When you are looking at forex systems, one of the factors that you might see mentioned in a good system review or summary is drawdown.
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I’ve been playing with the FAP TURBO EA for couple of month by now and I think I have interesting results to share. So do your analysis as best as you can. Define the entry points. Define the stop loss and take profit levels. Calculate the position size and risk. Once the price comes to the entry point, execute the trade. Then leave it to mature. Go do something else. Come back after some time to see the results of your trade. This approach will save you time and psychological energy. So many people fail in trading Forex. But you don’t have to. Some people ask me if there any rules to become a successful trader. When I think about my trading I clearly see 20 rules that if followed can make you consistently profitable trader. Some of them you probably know. The only thing is left is to implement them in your trading. If you ask two different people statistician and Forex trader what would be the probability for one to get run over by the car you will probably will get two different answers. Statistician would likely to say that the probability is very low. Forex analytic would say that the probability is 50%. The problem is that Forex trading requires completely different mindset than that we used to in our daily life. |
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