Download 9 Forex Trading Systems FREE. This is an eBook that you can download FREE. This eBook explains in detail 9 Forex Trading Systems are being used by professional traders. The first is the forex profit system. The second system shows how to scalp on the 1 minute charts. The third is a Moving Average Intraday System. The fourth system is how to micro trade on the 1 minute chart. The fifth is the Tom Demark Trading System. The sixth is a forex news trading system. The seventh is a day trade forex system. The eight is CI System and the ninth is Forex Intraday Pivots Trading System.
Going through these 9 forex trading systems will give you an idea how to trade using moving averages, PSAR, Bollinger Bands, RSI, MACD etc. Practicing a few of these forex trading systems on the demo account will help improve your understanding on how to read the charts and decide when to enter and exit the market.
What you need is only one winning system. After trying all these 9 forex trading systems, you can decide which one is the msot suitable for you. Once you have selected a system, you should practice it on the demo account for at least two months daily. The more you are going to practice it, the more you will become familiar with it.
One of the most important things is the risk and money management. Always make it a rule that you are not going to risk more than 1% of the account balance on one single trade. Look for big winners while making sure that the losers are small. Let’s make it clear with an example. Suppose, you find a system that wins 80% of the time. The average size of the win is 20 pips and the average size of the loss is also 20 pips. How much pips on average you will make in 10 trades? If you do the maths, you will be winning 8 trades and making 160 pips while you will be losing 2 trades and losing 40 pips.
Now, let’s suppose you find a system that makes 40 pips and loses only 10 pips on average. Suppose the win rate of this system is only 60%. In this case in a series of 10 trades, this system will be winning 6 trades only and making 240 pips on average while it will be only losing 40 pips on average. So you can see yourself, the most important parameter is the average size of the win. Average size of the win is determined by the risk to reward ratio that you use in a trade.