The Best Forex Trading System - This is the REAL Way the Pros Trade Forex

What is it that makes the best forex trading system? Is it the one that most people use? Probably not, otherwise why would there be so many people failing to make any money? Everyone knows the statistics. 95% of traders who try trading forex, fail.

So, if the best forex trading system isn't based on popularity what is it based on? Simplicity!

I know some of you are probably thinking that these systems, where you put a bunch of indicators on your charts and you just trade based on the readings of the indicators, sound fairly simple. After all, it is something that anybody can follow.

But when I talk about simple, I mean having a less is more kind of approach. If you are adding more indicators and more gadgets can you really say that you are making things simpler? Better yet, can you really say these indicators are helping you actually understand the market?

If you are paying hundreds of dollars a month on charting software from eSignal or TradeStation, you have to ask yourself is it worth it? Who knows? To some, it probably is.

I can only speak from experience but when I was finally able to trade the markets successfully, is when I got rid of all these excesses. The market suddenly became simpler and easier on the eyes. I was able to spot patterns that get repeated constantly in the price action, which helped me to forecast future movements. The moment you wave bye-bye to all the unnecessary filler that comes with trading, is the moment you have a true understanding of the market.

Want to learn how to trade forex without indicators then check out my best recommendation Bird Watching in Lion Country

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Forex Trading - What is a Realistic Target in Terms of Profit?

What is a realistic gain per annum for a new trader in forex trading? Most new traders either give you an blank expression, or quote a wild figure. Here I will give my views based upon the experience of having taught and been a broker to over 5,000 traders...

The best traders I have seen have managed 100% + per annum with the very best at 167% compounded per annum over 3 years but this woman was special! Other traders who did will were in the 30 - 50% bracket. Let me say though this was a very small minority.

What amuses me today in the world of online forex trading, how the myth has grown of how easy it is and the track records of some forex robots not only beats the best I have seen but are better than the top hedge fund managers. Of course all the track records quoted are not real profits just paper profits in hindsight and are no reflection of reality where the robots soon destroy equity.

The myth is there and everyone wants to be a professional forex trader and there are plenty of vendors offering untold riches with no effort - but the ratio of losers today, is the same as it was when I started trading - 95% lose and get wiped.

So don't believe all the great advice you get on making money the easy way, making money is never easy and you wouldn't expect it to be with the rewards on offer in forex trading.

If you made 50% per annum, you can consider yourself doing very well and if you do 100% + year in year out, your up there with the best.

Another myth of forex trading is you are going to get rich on a few hundred dollars.

When I started trading we didn't take retail accounts under $5,000 and they were considered small.

Today, the amounts you can invest are tiny and the leverage is higher than ever before - 200:1 is standard, with many brokers offering 400:1 - but it won't help you win, as volatility is so high and small swings wipe you out. 10 or 20:1 is a more sensible leverage to use.

Most accounts have no chance of winning because they leverage up and of course sooner rather than later, the market gives them a slap and bang goes their account.

If you made 50 - 100% per annum that will compound up into a massive figure if you do it consistently and you can do it if you are prepared to get the right forex trading education, have the right mindset and be realistic.

If you do the above currency trading success can be yours.

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