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You are here: Home > Finance > Investing > Choosing A Forex Trading System – Part 6 |
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Casual Articles - Choosing A Forex Trading System – Part 6
Get Rich Quick? rich-quick traders, etc.Would you go to the grocery store, come home and put the groceries away, sit down and wait for your supper to make itself? Of course not.Would you get out the dust mop, the broom or the vacuum cleaner and expect the house to Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the New Niche Business Blue Print In our last installment we discussed the super-important performance measure called maximum drawdown. Today I have another measure who’s importance may not be immediately obvious to you. That measure is the actual length of time over which the trading systems results were achieved. Some of you may identify this as the length of the trading system’s track record.Here is your step-by-step business blue print for how to start your very own Niche internet business:Step One: Find a specifc niche market that you are interested in and have a passion for.Step Two: Through research fi Why is this so important? The main reason that this is so important is that the shorter the track record of the trading system is the less significant the track record may be. A trading system with a short track record may be only cherry picking and displaying the best possible period of trading. Don’t be impressed by some wording like “made 10% return this month”…so what. In my personal best month of trading I made hundreds of times more than the above example of 10%...again, so what. In trading, as in life, there are many things that are a flash in the pan…trading systems, get-rich-quick traders, etc. Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the l Ecommerce Solutions for Small Business Owners the trading systems results were achieved. Some of you may identify this as the length of the trading system’s track record.You are running a small business. Or You may have a web site but has not been generating a good income. Or You may have a web site, which is generating a good income, but you want to increase your income. Or You do not have a Why is this so important? The main reason that this is so important is that the shorter the track record of the trading system is the less significant the track record may be. A trading system with a short track record may be only cherry picking and displaying the best possible period of trading. Don’t be impressed by some wording like “made 10% return this month”…so what. In my personal best month of trading I made hundreds of times more than the above example of 10%...again, so what. In trading, as in life, there are many things that are a flash in the pan…trading systems, get-rich-quick traders, etc. Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the How Effective Is Keyword Rich Domains? the trading system is the less significant the track record may be. A trading system with a short track record may be only cherry picking and displaying the best possible period of trading. Don’t be impressed by some wording like “made 10% return this month”…so what. In my personal best month of trading I made hundreds of times more than the above example of 10%...again, so what. In trading, as in life, there are many things that are a flash in the pan…trading systems, get-rich-quick traders, etc.Are keyword rich domain names the relic of a deluded past or are they the last hidden pot of gold at the end of the ethernet rainbow? Let me put you out of your misery, they are not either effective nor have they ever been. Now we c Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the How Autoresponders Work return this month”…so what. In my personal best month of trading I made hundreds of times more than the above example of 10%...again, so what. In trading, as in life, there are many things that are a flash in the pan…trading systems, get-rich-quick traders, etc.In order to build a list of subscribers to your newsletter, or simply a list of people who trust you enough to allow you to send them emails now and then (with the occasional offer), you're gonna need an autoresponder. An autorespo Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the Handling Redundancy rich-quick traders, etc.Why did you leave your last job?It’s a question that, following redundancy, many job applicants stumble around hopelessly with as they attempt to convince the interviewer that they wanted to leave when in Fortunately, you and I realize that success in trading is a marathon and not a sprint as so many would love for it to be. Your trading system needs to be one that at least displays the ability to weather the long-term storm. As we all know past performance is no guarantee of future returns. A longer track record may give you more insight into your trading system’s chances of survival than one without as much data. You should plan to have a long and profitable relationship with your trading system. Like any relationship that you plan for the long term it makes good sense to have as much history on your potential partner as humanly possible. So shy away from those trading systems that seem to selectively share only one or two months of hypothetical performance. Remember, even a broken clock is right twice a day. To Your Forex Trading Success!
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