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What is Forex? | We have 469 free forex articles/answers for you.
What is Forex? | We have 469 free forex articles/answers for you.
Latest Articles
Forex Brokers are Valuable AdvisorsYou should be able to find several indispensable facts about forex broker in the following paragraphs. If there's at least one fact you didn't know before, imagine the difference it might make. A forex broker is one who assists individuals,...
FOREX Money Management Tips
Whether you are a seasoned trader or new to FOREX, without a good money management it will be hard to ever make a dime. Good money management will be out a great trading system any day. Without knowing how to keep losses to a minimum will only...
Spot forex Trading: Little Known Wealth Building Secret Of The Rich & Famous
If you search on the internet you'll find millions of investment programs such as real estate, stock trading, bond trading, mutual funds, CDs, auction programs and various internet programs. I have not done many internet income opportunities...
Choosing A Forex Trading System – Part 2
In the first part of our series – Choosing A Forex Trading System – Part1 we covered a few quick tips to get you a few steps closer to choosing the Forex trading system that’s right for you.In Part2 we will take a look at a few other do’s and don’ts for choosing a Forex trading system. With that in mind her is “don’t” number 1.
1) Don’t be overly impressed by a high percentage of winning trades
Often times you will see Forex trading systems advertising a high winning trade percentage. The ad might contain information a line like the following:
“Over 90% Winning Trades”
You might look at that and say, “Wow, with numbers like that I’ll be rich in no time!”Before you stop reading the ad to call your local real estate broker about buying that private island just realize that this one figure does not tell the whole story.
The fact is that most successful traders the world over have made their money with far smaller percentages of winners than many of the trading systems you will see advertised.
I would suspect that the reason the high winning percentages are advertised is to attract as many customers as possible. Many buyers believe that the closer the winning percentage is to 100% the closer the trading system is to being a
“sure thing”. In the trading world there is no such thing and you would be well advised to run as fast as you can away from anyone who tells you otherwise.
Here’s a quick illustration of a losing trading system with a high percentage of winning trades:
Trading System A Performance
Number of trades = 1000
% of Winning trades = 92%
% of Losing trades = 8%
Average Winning trade = $180
Average Losing Trade = -$2100
That’s just a quick illustration of how a Forex trading system can have a high percentage of winners and still lose money. We’ll go into even more depth in the next part of our series as we continue to explore choosing a Forex trading system.
To Your Forex Trading Success!
About the Author :
Whether you're a beginner or a seasoned pro you'll discover the best Forex Broker tips, techniques and valuable resources and information at http://www.forex-strategies.com
Article Source: www.iSnare.com
Written By: Tony Hosea
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