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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 Day Trading SystemsUsually, we associate trading with purchasing a commodity, bringing it home or to our business premises, and then selling it. Similarly, we purchase stocks and shares in the stocks and shares market, hold them until their value increases and then...
Forex vs Stocks
First of all, what is Forex? It is a short version of FOReign EXchange. It is also called FX and 4X, but regardless of the name you use, it is the largest financial market in the world. From 1997 to the end of 2000, daily Forex trading has...
Trendline Backside Forex Strategy: Getting In At The Optimum Price
Knowing how to utilize the power of trendlines as part of your forex strategy can make a big difference to you profits. Getting in at the right level results in more pips which can accumulate steadily. Two methods of drawing trendlines are: 1....
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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