System Hopping - Part of a learning process?
System Hopping - Part of a learning process?
I'll admit it openly, when I first started trading Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, 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 Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term, 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?
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...
System Hopping - Part of a learning process?
I'll admit it openly, when I first started trading Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, 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 Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term, 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?
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...