Forex Tips : There is NO 100% Winning Strategy

* Don't change too much, just change your attitude *


I have read an e-book, "Timely Advice from a Pro Trader", stated that  "Success in Trading is 80% Psychology and 20% Methodology". " If you can master the discipline to follow your system’s rules, you are eliminating that dangerous ‘human factor’ from your trading. This is the most important step towards becoming a successful trader."


So what is human factor?

I would say :

a) an immediate within seconds, you turn yourself to be greed.

b) an immediate within seconds, you turn yourself to be fear.

c) an immediate within seconds, you enter your trade without planning.


Basically investment is forex is 80% psychology and 20% system. Why do I agree? There is a lot of system (strategy, indicators) tell you that their system is good. However, do you do your research by comparing system and do your homework that you are confident of using it for at least 6months? Why do we change the system so much and why not we focus the problem and solve it using the same system?


 

I do believe some other systems has their pro and cons, that's why I mention here that there is no 100% system without your 100% support from you. You are the trading system and what is your system?


 

Does changing trading system is part of your system?

How do we differentiate between improving a strategy with changing a strategy?


If you like to use MACD, try to focus it and explorer the various MACD system available out there, and knowing which condition is work best, and which condition doesn't work at all. Then choose other system to replace this MACD weakness. Therefore you at least have two system on hand.

In other words, One (1) trick is not enough. But if you keep on changing the only one (1) trick you have, you are going to nowhere.

 

You may download the ebook here : Timely Advice from a Pro Trader


What do you think?


Once you have mastered the psychology, it is become 20% psychology and 80% method. It is the symptom of becoming relax, steady when you able to obtain monthly income from forex and have time to troubleshoot other available methods.