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January 25, 2025
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January 25, 2025
Goals of your mechanical trading system.
We know you’re saying, “DUH, the goal of my trading system is to make a billion dollars!”
While that is a wonderful goal, it’s not exactly the kind of goal that will make you a successful forex trader.
When developing your mechanical trading system, you want to achieve two very important goals:
- Your system should be able to identify trends as early as possible.
- Your system should be able to help you avoid getting whipsawed.
If you can accomplish those two goals with your trading system, you have a much better chance of being successful.
The Hard Part
The hard part about those goals is that they contradict each other.
If you have a system whose primary goal is to catch trends early, then you will probably get faked out many times.
On the other hand, if you have a mechanical trading system that focuses on avoiding whipsaws, then you will be late on many trades and will also probably miss out on a lot of trades.
Your task, when developing your mechanical trading system, is to find a compromise between the two goals.
Find a way to identify trends early, but also find ways that will help you distinguish the fake signals from the real ones.
If you have no idea where to start, drop by our Free Forex Trading Systems thread in our forums.
Tons of forex traders post their ideas for trading systems, so you may find one or two that you can use when you build your own mechanical trading system.
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