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Thread: Trading Without a System

  1. #1
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    Trading Without a System

    Does anyone else use no indicators or any real system when trading?
    Recently I have totally abandoned all indicators. I felt my trading had become a slave to them and my results had started to slip. Back testing seemed to work but when I implemented them in the moment they failed me.
    Currently I bring up a few time frames, check out the candlesticks and go with my gut. Made over 1000 pips this week alone on this new strategy. Can I carry this on? Who knows? But I feel more comfortable anyways.
    Anyone else use this style of trade? How successful are you?


  2. #2
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    I trade mainly with support and resistance; I think I outlined the way I trade in my thread (http://www.fxfatcat.com/forex-forum/...Trading-by-YES).

    I also, when I feel the need to, look at other factors such as news, Fibonacci retracement, and the stochastic oscillator (overbought and oversold).

    It's good to learn how to trade without any indicators as indicators pull all of their information from the price, therefore you can learn how to interpret what is going on from the price alone, where you can see from a naked chart what an indicator would be telling you.

    When you have indicators which you're not the master of, they become your master, so either:

    a) Learn to trade without indicators (with the option of adding one later on)
    b) Become a real expert in the indicator so you know it through and through (i.e. you being the Master of the indicator).

    Well done on making 1000 pips this week, that's phenomenal really. If you have the right money management and risk strategy, there's no reason why you couldn't continue in that success, however, if you don't make as many pips per week, don't get discouraged as most people don't make any positive pips per week

    I have been trading like this for a long time and I am successful at it.

    Trading is a science of uncertainty and an art of probability.

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    Rein135 (03-21-2014)

  4. #3
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    I loved it forexmetal. It's a great website and offers free MAM/PAMM terminals for fund managers.


  5. #4
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    i dont think so that this type of strategy can work for long, with out any trading system i can't assume to trade for a bit. I used fxreplitrader automatic trading forex signal system which is very essential in making a nice profit. It is free to use.


  6. #5
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    Trading without a system will be like traveling without any map or traveling without having any destination. How can you reach a place if you don't have a map for that place. You cannot profit if you don't trade using a proper system.


  7. #6
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    Quote Originally Posted by MrEuro View Post
    i dont think so that this type of strategy can work for long, with out any trading system i can't assume to trade for a bit. I used fxreplitrader automatic trading forex signal system which is very essential in making a nice profit. It is free to use.
    There are many automated trading systems, but its better to rely on skills and experience of ourself, as you cannot fully depend on it.


  8. #7
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    I don't think it is a good idea to trade without using the tools and software. You can make money in this field but not much until you use full power of the latest technology that has been given to you.

    Regards,
    Amazon Consultant


  9. #8
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    I don't think trading is possible these days without using indicators or system. I trade through web traders too but still i use MT4 even for trading Binary Options and optiontrade also do recommends downloading MT4 from their hotforex site.


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