Hi and welcome to the 'Which Forex System?' blog.
I'll be posting regular market updates from well respected Forex experts and showcasing the best Forex advice and systems, so you don't have to waste fruitless hours searching for it yourself!
Add me to your 'Favourites' now and as a special thank you, I'd like to give you 4 fantastic FREE gifts by simply entering your details on the right of this page >>>
You'll receive my 3 Part Ebook series 'The Forex Decoder' which covers everything from the history of Forex, to revealing the most consistently profitable indicators you'll need in your Forex arsenal. I've sorted the 'wheat' from the 'chaff' so you don't have to make the same mistakes as I did when I first started.
You'll also receive a copy of Mark Nelson's famous '7 Habits Of A Highly Successful Trader' which will prove an indispensible aid in your Forex career, as it has done in mine.
Just enter your details on the right and get these 4 fantastic gifts absolutely for FREE >>>
Yours 'Forexly',
Cliff
I'll be posting regular market updates from well respected Forex experts and showcasing the best Forex advice and systems, so you don't have to waste fruitless hours searching for it yourself!
Add me to your 'Favourites' now and as a special thank you, I'd like to give you 4 fantastic FREE gifts by simply entering your details on the right of this page >>>
You'll receive my 3 Part Ebook series 'The Forex Decoder' which covers everything from the history of Forex, to revealing the most consistently profitable indicators you'll need in your Forex arsenal. I've sorted the 'wheat' from the 'chaff' so you don't have to make the same mistakes as I did when I first started.
You'll also receive a copy of Mark Nelson's famous '7 Habits Of A Highly Successful Trader' which will prove an indispensible aid in your Forex career, as it has done in mine.
Just enter your details on the right and get these 4 fantastic gifts absolutely for FREE >>>
Yours 'Forexly',
Cliff
The Holy Grail of Forex
How many times have you seen Forex traders (new and old) on forums on the internet searching for the “Holy Grail” of Forex—the one tried and true strategy, system or automated trading program which will bring them success time and again—and never fail? And how many times do you see other traders contesting that there is no Forex Holy Grail, and that these traders are just kidding themselves? Well, the fact is, those traders who say there is no holy grail are partially right, but not entirely. If you’re looking for a perfect system, you’re not going to find it—but that doesn’t mean there isn’t a Holy Grail of Forex—it’s just not what you’re probably thinking it is.
There is no such thing as a foolproof system, and there are a couple of reasons for this. The first is simply that it’s statistically impossible since there is always some degree of chaos in the markets and in life. The second reason is that change happens, sometimes suddenly, sometimes gradually, but nothing can stop it, which means all systems will eventually fail unless they are adjusted.
Of course, if your system has recently failed, that may be what you’re out searching for the Holy Grail (or maybe you’re a newbie Forex trader, and you don’t even have a working system yet). The fact is, though, you aren’t going to find it—the next system you find will fail eventually, and the next one, and the next one. But during all this time, you’re getting distracted looking for new Forex systems instead of focusing on the real Holy Grail—which is you.
You are the one ingredient in your trading method over which you have relatively complete control. Of course even that is never going to be perfect, but by honing your self discipline, taking time to practice, and accepting that adaptation is always necessary in Forex and in life, you can improve your odds of success. That system you were using which was working well and suddenly broke one day is something you may be able to fix. Instead of going on a wild goose chase looking for the perfect system somewhere else, why not figure out why your perfectly adequate system has stopped working? It may be as simple as looking at the changes in the market and making some adjustments to compensate. Or perhaps you’ll figure out that what changed wasn’t your system or the market, but you!
It takes time, faith, introspection, and dedication, but you’ll often get further by taking a deeper look at the system in which you’ve already invested your hard work than you will trying to build something entirely new from scratch. Does that mean that you won’t have to build a new one? Not necessarily, but there’s a good chance you won’t. Many Forex traders use variations on one trading method for many, many years (of course, this may not suit everyone). And either way, by analyzing what you’ve got instead of panicking, you’ll be developing positive personal attributes which will help you succeed at Forex in the future.
There is no such thing as a foolproof system, and there are a couple of reasons for this. The first is simply that it’s statistically impossible since there is always some degree of chaos in the markets and in life. The second reason is that change happens, sometimes suddenly, sometimes gradually, but nothing can stop it, which means all systems will eventually fail unless they are adjusted.
Of course, if your system has recently failed, that may be what you’re out searching for the Holy Grail (or maybe you’re a newbie Forex trader, and you don’t even have a working system yet). The fact is, though, you aren’t going to find it—the next system you find will fail eventually, and the next one, and the next one. But during all this time, you’re getting distracted looking for new Forex systems instead of focusing on the real Holy Grail—which is you.
You are the one ingredient in your trading method over which you have relatively complete control. Of course even that is never going to be perfect, but by honing your self discipline, taking time to practice, and accepting that adaptation is always necessary in Forex and in life, you can improve your odds of success. That system you were using which was working well and suddenly broke one day is something you may be able to fix. Instead of going on a wild goose chase looking for the perfect system somewhere else, why not figure out why your perfectly adequate system has stopped working? It may be as simple as looking at the changes in the market and making some adjustments to compensate. Or perhaps you’ll figure out that what changed wasn’t your system or the market, but you!
It takes time, faith, introspection, and dedication, but you’ll often get further by taking a deeper look at the system in which you’ve already invested your hard work than you will trying to build something entirely new from scratch. Does that mean that you won’t have to build a new one? Not necessarily, but there’s a good chance you won’t. Many Forex traders use variations on one trading method for many, many years (of course, this may not suit everyone). And either way, by analyzing what you’ve got instead of panicking, you’ll be developing positive personal attributes which will help you succeed at Forex in the future.
