Welcome to myforexdot.org.uk - I first created this website back in August 2009, mainly to share technical trading systems and trading strategies as I developed them, with the hope of getting some decent feed back and constructive criticism. I hope to create enough free mechanical trading systems to turn this website into the Internet's No. #1 library for free and tested mechanical trading systems.
There are plenty of traders who rely on their gut instincts and feelings when making their trading decisions - they are very rarely successful in their endeavours. There is simply no substitute for learning to trade, understanding the market, and developing a trading system (basically a set of rules) that suits you and has been mathematically proven to have a positive return expectancy when thoroughly back-tested on historical data. Even if you're not trading a system that is 100% mechanical you should still be following a basic set of trading rules. It's very difficult to follow a trading system that doesn't suit you, your goals, expectations and time frames; and even more difficult to have the confidence to stick with it through the draw downs. This confidence can only come through thoroughly understanding the system you are trading and having done sufficient testing to have the confidence to know that over the longer term, with the right risk management strategies, your system produces a positive return.
There are countless numbers of trading systems for sale on the Internet these days. Some of these systems may well be good, but most of them are undoubtedly the work of unscrupulous fraudsters trying to take advantage of novice traders by passing themselves off as seasoned traders promising to give them the secret to becoming Forex millionaires for a few hundred dollars and nonsense like that. Sadly, some people fall for these scams because they promise them what they really want to believe is true, that they can become successful traders and make a fortune with very little work, capital or effort.
The simple truth of the matter is that there is no 'special secret' closely guarded by the elite few in trading, there is no 'Holy Grail', and there is certainly no substitute to learning how to trade for yourself.
Even if you were lucky enough to be able to buy a decent system, you would still need to understand it and thoroughly test it before you would have the confidence to stick with it through the draw-downs; and the system would still need to 'suit' you. In fact, one successful trader once said that even if he published his trading system in a national newspaper it would make no difference because nobody would be able to follow it. This, I believe, is completely true. Without having the confidence that comes with understanding the markets and doing your research I believe it would be almost impossible for most people to follow any trading system through the good times and the bad when their own money was on the line. It is my sincere hope that the information on this website will help traders towards finding an edge to develop their own trading system that is right for them.
Best of luck,