Forex Trading Systems - Thinking of Buying One? Then Look for This
I read a lot of material on forex trading systems and the great copy offering me huge profits for $100 or so, sounds great!
Then when I come to buy the system I look for one thing and one thing only to see if it's worth me parting with my money.
Its obvious but most forex system buyers don't think to ask the obvious its:
The real time audited track record from the vendor.
After all if they make claims about how great their system is shouldn't they be trading it and shouldn't they have some proof it makes money?
Of course they should!
In most cases however with forex trading systems all you get is a hypothetical track record at best, or a load of vague claims without substantiation.
A hypothetical track record means absolutely nothing.
Let's define exactly what this means:
It means the person had all the closing data in hindsight and can simply make the profit and loss whatever they want it to be.
You never see one that loses money.
Let's face it, if we are doing a track record knowing the closing prices anyone can make money as they know what the prices did.
My 10 year old boy can do that!
There are some good forex trading systems out there and the best way to get one that is reputable is to get a trader who puts his money where his mouth is and trades his own system.
Would you take driving lessons from someone who had not driven before?
Of course you wouldn't!
Use the same rule in trading if the vendor doesn't have the confidence to trade his own system why should you?
Don't fall for the hype
Fact is, there are many forex trading systems sold by vendors without track records and they know their systems don't work and that's why they don't trade.
Of course, they make money from greedy and foolish people who fall for the copy.
Vendor wins you lose - Simple.
People will say the fact that a froex trading system just because it has made money in the past does not mean it will make money in the future and of course this is true, but I Like the fact the person selling at least has shown profit and has the confidence to trade.
My view is never trade a system without a real time track record of at least two years.
Related Tags: forex, forex trading systems, currency trading system, best trading system, currency success
MORE FREE BETTER TRADING INFO
On all aspects of becoming a profitable trader including info and for an exclusive Gann Trading Course visit our website at http://www.net-planet.org/index.html
Recent articles in this category:
- Sbi Best Sip Plans 2010
SBI Mutual funds have introduced many mutual schemes. Each scheme has different limitations. SBI SIP - Icici Sip Plans 2010 - Best Sip Plans
ICICI Prudential offers many schemes. These fund schemes have SIP. What is SIP? SIP's expansion is S - Determining Where To Invest Money
There are several kinds of investments, also you will find numerous factors to find out where to inv - Retirement Plans A Necessity Of Life
A person works whole life to give a decent upbringing to his children and families. But while improv - Stock Market Timing Signals
Follow the PlanThis would seem a statement of common sense, but the fact of stock market timing sign - A Selection Of Financial And Investment Strategy Guidelines For Turning A Profit
Yet, we don't often have the money to leave work right at this moment. We need a constant salary to - Find Out The Profitable Way To Invest In Small Cap Stocks
Everyone wants to find a penny stocks list or other investment strategies that can turn your literal - Portfolio #4 - Watergate
IntroductionThe problem is not that the world is running out of water. No, the problem is that drink - Dulton Group: Information Content Of Dividends
Dulton Group helps you to analyze the information content of dividends, an important factor affectin - Coping With Fear In A Markets
The real fact is that all traders, investors as well as stock market investors, who feel afraid, occ
Most viewed articles in this category:
- Investor Stress: A New Approach
George Muzea is both an investor and a stock market advisor. In any given month, he will be paid $10 - Real Estate Investment Financing
1. Location: Your real estate investment's location is arguably the most important component of your - Canadian Oil Sands - Who Are the Major Players
The Canadian oil sands represent one of the most lucrative investment opportunities to oil and gas i - Why Bulk Preconstruction?
Bulk preconstruction is the latest trend in secure, high profit real estate investing. By buying wit - Investing - It Is Not As Scary As You Think
Many people want to have more money - OK everyone does. However, most people don't know how to go a - How Do I Know Which Programs Are Scams?
Although it is virtually impossible to tell if a HYIP is a scam until the moment when they stop payi - Currency Trading Success - 6 Tips to Increase your Profits
If you want to increase your profit potential and achieve currency trading success then the simple t - The Business Cycle
Investors who want to beat the market should be followers of the business cycle. The business cycle - Pros and Cons of Real Estate
Like any other profession, there are good and bad things about what are available. Each of the thin - The Fixer Upper
Real estate investing has become almost a national pastime. Millions are made every year on the buyi