Find out how to Boost your Revenue in FOREX
A trading system that is simple, has well-defined rules, and provides you with a profit/loss ratio of atleast 2:1 is a best forex systems. You also have to make sure that your trading system will fit into your lifestyle. In case that you can only trade during 2 morning hours, then you must have a system that operated with delayed orders. Scalping system may also work well with you if you can trade whole day long.
The best FOREX system’s important part is money management. You have to manage your risks well in order to stay profitable for a very long time. Control your risk. No matter how often your positions close with profit, use not more than 5% of your deposit per trade. So that you still have sufficient fund on your deposit to survive unfortunate incident such as large drawdown.
My best FOREX system is based on third-party FOREX signals, money management and special rules of opening and closing positions. When I receive signals from one of my two signal providers, I check if profit/loss ratio is at least 2:1. By doing this, I only accept safe signals and I reject the risky ones. I also make sure that my take profit orders are base on the average daily range of a currency pair which I am trading, regardless of what projected target is. If my positions are not close by take profit orders, I manually close them by the end of the day.
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