Understanding oneself and your current situation will determine your trading style and setup, which is crucial for success.
I have been experimenting with different systems from intraday to swing trading, and I found that unless you are a professional day trader, you are not going to be successful with some profitable trading systems if they don't suit you. Probably automatic trading can helps you in another way, but the every day market condition is unique so if we want to make more pips, auto trading would not be able to do what manual trading could.
As a new trader who just started out with Forex earlier this year, I have always been fascinated with fancy setups and beautiful customized indicators. Although many systems are profitable if strictly adhere with its rules, however, if a system does not fit into individual style of trading, we won't be able to make pips nor stick to it 'religiously'.
Everyone of us has different style, and it is particularly important to find out what suits our personality if we want to be successful in trading.
Same like most -if not all- of the new traders who just started out, I am also no stranger to losing trades and seeing my position being liquidated due to over-leveraging the account result of trying to exploit the 24-hour Forex market has to offer. That is, always want to be in the thick of action but I have realized that I don't have the time and energy to do that consistent unless trading is what I do for a living.
So what setups and systems are we going to use if we are doing part-time trading? It depends on what suits you and your current time available for trading. My advice is, if you are not an intraday trader, don't pick up systems that are customized for day-trading no matter how profitable it is because if your conditions don't allow, you won't be able to follow through it consistently throughout the day. You might just miss a winning trade after a string of losses due to your time schedule and other priorities. That would be detrimental.
Right now, I sense that I am going through to the second stage of my trading and I am constantly picking up knowledge from traders around the world in the forums, webinars and books etc. I am looking less at other trading systems now but rather focus on my own EMA trading setup since it suits me the most as I am not a day trader with a large capital nor the time to do scalping during the day.
I have been experimenting with different systems from intraday to swing trading, and I found that unless you are a professional day trader, you are not going to be successful with some profitable trading systems if they don't suit you. Probably automatic trading can helps you in another way, but the every day market condition is unique so if we want to make more pips, auto trading would not be able to do what manual trading could.
As a new trader who just started out with Forex earlier this year, I have always been fascinated with fancy setups and beautiful customized indicators. Although many systems are profitable if strictly adhere with its rules, however, if a system does not fit into individual style of trading, we won't be able to make pips nor stick to it 'religiously'.
Everyone of us has different style, and it is particularly important to find out what suits our personality if we want to be successful in trading.
Same like most -if not all- of the new traders who just started out, I am also no stranger to losing trades and seeing my position being liquidated due to over-leveraging the account result of trying to exploit the 24-hour Forex market has to offer. That is, always want to be in the thick of action but I have realized that I don't have the time and energy to do that consistent unless trading is what I do for a living.
So what setups and systems are we going to use if we are doing part-time trading? It depends on what suits you and your current time available for trading. My advice is, if you are not an intraday trader, don't pick up systems that are customized for day-trading no matter how profitable it is because if your conditions don't allow, you won't be able to follow through it consistently throughout the day. You might just miss a winning trade after a string of losses due to your time schedule and other priorities. That would be detrimental.
Right now, I sense that I am going through to the second stage of my trading and I am constantly picking up knowledge from traders around the world in the forums, webinars and books etc. I am looking less at other trading systems now but rather focus on my own EMA trading setup since it suits me the most as I am not a day trader with a large capital nor the time to do scalping during the day.
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