System Hopping – Part of a learning process?
I’ll admit it openly, when I first started trading Forex, I was a System Hopper. I used to check out different trading strategies. I don’t have a finance degree, no-one taught me forex trading, nor could I afford a expert mentor, so I had to check out different trading strategies for myself.
Many experienced traders criticise “System Hoppers”. The accusations levelled against these new traders is that you’ll never get anywhere if you continually test a system for a couple of weeks and then move on to another because you didn’t see a gazillion pips after trading it. I totally agree with this criticism – up to a point. Yes, you won’t get anywhere if you keep doing this – for that particular system. However, what I realised after testing so many systems was – “is every friggin system just BS?” Or could it actually be me?
Stocks to Watch This Week – Expedia Group, IncGo to article >>
Was I the one that wasn’t giving full justice to a well thought out trading system? Was I the one ignoring its rules, entering every trade blindly, not even thinking about my entries?
You know what, I realised it was me. I’m not saying every system is a good system (actually, only a few are), but the point is that maybe “System Hopping” is part of the process that makes a trader. Not every trader was a System Hopper, but I certainly was, and even though it’s folly to jump from system to system, it definitely opened my eyes that I needed to study, work hard, and actually think about each trade I enter…