The Best Way on Forex

[mishak]

Dear Forex Fellows
Many of us have learned about forex at a free workshop, from a friend or an article.
There are various ways to continue and different approaches to become successful and profitable on the forex market. Here they are

• To attend more seminars, read books and forums, get some Experience and make trading decisions Yourself
• To sit side by side with a Mentor and Study his methods and techniques
• To subscribe for a Signal Alerts services or to get Live deals from a Guru on a chat/forum and trade according to them
• To buy a Software Package that gives you easy understandable signals or to buy a profitable Model/Strategy Description and trade according to it
• To subscribe for Analytical Reports/recommendations with fundamentals, trends, resistances and make your own judgement
• To take time to Develop and backtest your Own profitable System
• To pay monthly fees for a Robot which will make profits for you by itself
• To hire a Professional Forex portfolio/money Manager or to Invest in a Hedge fund
• To open a Managed account and learn by Monitoring the activity
• There is no way to become continually profitable on Forex

What do you think ? What is most suitable for you ?
Your input will be appreciated by our community

[bearprofits]

Mishak Hi,

Good question, developing your own system gets my vote. You can borrow, change, tweak ideas and settings from other systems, but in the end you need a system that:

a. You know like the back of your hand, why it works, win/loss ratios, backtested, average profit expectations, max drawdowns ect.....

b. Fits your personality for time and risk tolerances.

c. Gives you the security, or belief in the system, that permits you to trade it with real money.

Just trying to trade someone elses system or reco's in my mind always leaves a doubt, and this leads to always looking for greener pastures.

Just a poor bear's thoughts

[fairwind]

An interesting poll Mishak,

It will be more interesting when more members vote.

I voted for "develope your own system" and this also imply's that I found it best to study on my own via forums and forum friends, starting with MoneyTec ( of course ! )

[Stardreamer]

Interesting poll, let's get some more votes

[Ugly_Dog]

The only one I have any real experience with is the last one!! Losing money!
Has anyone tried all of those options so they can definitively say which is BEST?
Ugly Dog

[mishak]

The dynamic of voting is very interesting.
The fellows who is developing their own systems voted first and kept the overwhelming majority for first days. I guess they are visiting our forum every day.
Later "Study yourself - Get Experience" guys came and voted. Unfortunately no post from them.
Recently we got some votes for "Learn from a Mentor". Do you have a good story about some mentor ? Please share.

Today, the POLL is running for one week, 41 votes distribution is:

• Develop Own System 46%
• Study Yourself - get Experience 32%
• Learn from a Mentor 15%

Obviously, fellows who buy signals/strategies/reports/managing_services do not attend our Forum.

Maybe some stories about negative experience about some of the "ways on forex" will be valued by members. Please contribute.

Take care and have fun

[novice]

Develop Own System and Study Yourself - get Experience are similar enough to be the same IMHO.

[novice]

I was a Study Yourself - get Experience man BTW.