Keeping It Simple No1 – Trading System

Keeping it simple.

9th July 2015

Welcome to the first in a series of blogs which will guide you towards becoming a confident, self-sufficient and profitable trader. Throughout the series you will find hints, tips and rules which you will need to take on board and put into practice. Wherever you are on your trading journey, you will find some of those eureka moments that help move you along towards your trading goal. All you need to do is think carefully about each point made and how it relates to you, then make the effort to put it into practice. Sometimes I may appear a little blunt and sometimes what I have to say may be a little basic. That is just my nature and my intentions are always good. The basics need to be in place before a full understanding can be developed. And please remember that some people need a bit of a kick before they take any notice. You can lead a horse to water but a pencil must be lead. Sorry! An old joke I know.

Your first task is to believe that trading is simple. You may not find it easy but believe me “Trading IS Simple”. Each of these blogs will tackle a discrete topic and my aim is to help you build your confidence by de-mystifying the whole process. Sometimes you need to step back and take stock of where you are on your trading journey and start again with KIS in mind.

So let us start at the beginning. KIS No1. Trading System

Do you have a trading system? If so do you have the rules clearly defined and documented?

If your answer to either of these questions is no then you should n not read any more of these blogs until you can answer yes to both.

You MUST have a trading system with clearly defined rules to follow because if you don’t then you are not a trader, you are a gambler and the market will take your money off you. Once you have decided on you system then learn it thoroughly. You will not be able to use the system to trade profitably by just sitting through a couple of webinars. Just like every other job you need to fully understand what you are doing before you start working at it on your own. You would not expect to be a mechanic and fix aircraft or cars without serving an apprenticeship and becoming trained first, so be realistic and don’t expect to trade without training in a tried and tested system.

There are many people and organizations out there who simply want your money, so they make trading complicated so that you have to keep going back to them for more training and of course this is at a cost. We at FX Traders EDGE™ employ the Wavy Tunnel trading system and let me tell you that all the indicators we use are public domain and free to use, our training is always available for you to revisit and through our trading services we ensure that you fully understand.

It really does not matter which trading system you choose to employ and these blogs will be of help, but occasionally I will discuss Wavy Tunnel specific topics.

Right then!

  1. If you have a system and know it inside out you can move on to my next post.
  2. If you do have a system but do not fully understand it then now is the time to revisit your training and make sure you understand before moving on to the next post.
  3. If you don’t have a system then find one and learn it inside out, but make sure you choose a system that you can understand and that has a high probability of success. There are many systems out there and many do work but be sure you will ultimately be able to be independent as a trader. You do not want to be in a position where you are dependent on somebody else’s signals and trade alerts. This is something you should be able to establish for yourself as a result of quality training and a good understanding of what you are doing. You also need a system that can be used during your trading time. An M15 scalping system is no use if you only have an hour or two to trade each day. The FX Traders EDGE™ Wavy Tunnel is obviously the system that I would recommend because it has a high probability of success. In fact one of our students reported that 90% of her trades were positive ones though this level of success is not necessary to become wealthy. This is not a promotion for the Wavy Tunnel Trading System but I will say that those of our students have tried other systems on their search for one that suits them. Once they found FX Traders EDGE™ and the Wavy Tunnel they stopped looking. If you are interested in seeing testimonials then you need to contact Jody at jody@fxtradersedge.com.
    I hope this was of some help. See you next time.

Be patient.

Be disciplined.

Have fun

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