It is only natural for one to
feel upset, but for the follower of a forex trading system,
making money or losing money from that trade is not the
Why is this so?
For the trader who employs a forex trading system, he can
still face the losing trade with a smile, because he has had
followed through the trading signals in a disciplined way,
and it is only when a trader follows a system, he can be
sure of keeping his losses small and to live to trade again
By using a forex trading system, the trader can have a cool
head, and can face his trades rather unemotionally.
He can execute his trades following
pre-determined price levels of initial stop loss, trailing
loss and computed and projected price profit.
He knows his tolerable level of loss, his
threshold of pain - and of course, his risk to reward ratio
even before he trades.
Now when a trader has a trading system
and follows through the trading plan, making profits is a
natural result when he makes a correct trade. But when his
trade is wrong, his forex trading system will very quickly
show him that the direction of his trade is wrong, so that
he is out of the game fairly quickly.
I am often flabbergasted at some very
broad claims of some traders who condemn day trading systems
and relegate them to the garbage bin.
When you look at forex
trading systems, review them quickly by peer recommendation
By peer recommendation, I mean you can
ask existing traders their experience on the trading system,
and how they are doing with it.
Posting to the numerous
reliable trading forums will allow you to receive some
independent reviews fairly quickly.
At the same time, my
personal experience, and that of many other professional
traders is that day trading can be profitable, though it is
never easy to day trade.
Otherwise, how is it that so many
day traders are able to earn their income day trading the
short swings of the market daily for a living?
So it is
important for you to have a broad view of forex trading
systems if you are contemplating of learning or purchasing
any trading system that relates to day trading.
If you ever wish to trade successfully,
whether you day trade or swing trade, it is important that
you have a trading system that will allow you to approach
trading in a disciplined manner. It is only when you are a
disciplined trader that you can see consistent large gains
and small losses.
by Peter Lim