Best FOREX system is a trading system that is simple, has well-defined rules, and provides you with a profit/loss ratio of at least 2:1. Trading system must also fit into trader’s lifestyle well. If you can trade during 2 morning hours a day only, you need a system that operates with delayed orders. If you can trade whole day long, you can have fun with a scalping system.
A very important part of the best FOREX system is money management. You have to manage your risks well in order to stay profitable for a very long time. Do not risk too much. Use not more than 5% of your deposit per trade no matter how often your positions close with profit. One day you may experience a large drawdown and you must have sufficient funds on your deposit to survive it.
My best FOREX system is based on third-party FOREX signals, money management and special rules of opening and closing positions. When I receive signals from one of my two signal providers, I check if profit/loss ratio is at least 2:1. This way I accept only safe signals and reject the risky ones. I also set take profit orders based on the average daily range of a currency pair I am trading no matter what projected target is. By the end of my day I close my positions manually if they do not close by take profit orders.
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