The trend in Forex trading systems is towards using complex mathematical algorithms to predict Price turns in the market but which are the best? Lets take a look...
Lets first of all define what a mathematical theory is - it's a theory that works all the time. Now as yet, there is no algorithm that works all the time and the reason is quite simple - the markets don't move to certainties just probabilities but are any of these complex theories able to make a profit?
Most Forex trading systems that make money are simple not complex!
The more complex you make the rules the more likely it is to fail as there are too many elements to break.
You see a lot of vendors selling systems online which are supposed to beat the markets but they don't. These vendors simply do a back test on data knowing the closing prices and bend the system to fit the data. Going forward of course you can't do this and the system collapses and loses.
We see technology enrich our lives in many areas but in the Forex market technology and complicated theories don't and the reverse is true they help you lose. If you want an example of how technology doesn't help you then consider this:
30 years ago 95% of traders lost and the ratio remains the same today, despite the amount of technology traders throw at the market.
If you want to enjoy trading success, forget about technology and complication and keep it simple and robust; you then need what I will refer to as the missing link and that's the correct mindset.
Trading is not about just a method, it's about having the discipline to apply it.
If you don't have the discipline to execute your trading signals, you have no system.
You have to trade with discipline through periods of losses until you hit a home run and this is something most traders simply cannot do. They either think they won't face these periods or lack the confidence to have the discipline required.
The Good News
Is anyone can learn to trade, as trading is essentially simple and anyone can adopt the right mindset if, they have confidence in what there doing and they have the right Forex education.
If you want to win at Forex, forget mathematics and complex theories, use a simple one instead, apply it with discipline and you will be well rewarded for your efforts.
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