Day Forex System

Challenges in the Forex marketplace

When I first began trading the forex market, I found it very difficult and seemingly impossible to find decent charting software and an efficient day forex sysem, that I did not have to pay thousands of dollars, just to find out that the system I just sacrificed my hard earned money for is mediocre at best.

I also learned the brutal lesson to always test a system via paper trading (trading with a DEMO account, i.e. fake money) before putting my hard cash on the line. Now... I know you probably heard all this before, but I am sure that, like myself, when you were/are a brand new and nieve trader, your excitement gets the better of you.

You trade with a system that you paid 4 figures for thinking... 'Hey, I paid $3000.00 for this system that I bought from this seminar where the speaker touted how superior their system is (the point they used to justify the "investment" you are making for their great program.). Its a sure thing! Why paper trade?" Come on... you know you have done just that, or at the very least, it has crossed your mind.

Suffice it to say that I lost thousands "testing" systems both in the money I lost do to inexperience (that's how some of us learn) and in the "investment" in poorly performing systems.

Painful lessons many experienced traders in any market have gone through. If you have not experieced the crucible of losing large sums of money, you either are new to the game and have not blown it YET, or you are an anomaly consisting of luck and other hokus pokus. I truly beleive the latter does not exist. The BEST traders have learned through the school of hard knocks AND with the advice of those who have blown it before them.

The point is to learn from the mistakes of those who have gone through the hard lessons the world of trading has tossed in their direction and have managed to come through it victorious.

It is my hope and purpose that this hubpage will serve as a guiding light to beginning traders and a resource for the experienced traders among us to find fresh, new stratagies to utilize in the marketplace.

Here is a news article that I found interesting...

Pound May Fall 20% More before 2009

The Great Britain pound returned to its declining trend today even after the big positive opening gap this week. Analysts believe that this year may become the pound's worst since 1992... Read More>>