Don’t make complicated trading systems.
This paper is devoted to trading systems. Let’s begin with a discussion of the principles that should be taken into account when designing a successful trading system.

The first item is closely connected with emotions. Trading systems can’t support emotions and be based on intuition, which can be either an advantage or a disadvantage. Perhaps emotional control is the main reason why traders want to find a successful trading system. Emotions and intuition can not be calculated mathematically, and mathematics is considered to be the main thing with what must every trading system must operate. So the first and most fundamental principle in designing trading systems is that every rule or reason should be mathematically justified to enter the market.

The second principle points out to the fact that a particular trading system should be rather simple. The natural tendency is to make the trading system to be too complicated. The system, which has initially begun with a few rules, becomes too complex very often when adding more rules to include or exclude specific situations. You should be able to mentally understand and remember the rules. If you can not remember all the rules, and immediately recognize the cause for the alarm, the system is too complicated.

Trading systems are expanding with the addition of new rules to accommodate new circumstances to analyze trading situations more accurately. It’s a natural process from my point of view. As a “rule of thumb, I believe that the rules should not be of a great quantity and their number should be limited to about six.

The third principle is that the trading system can not improved undergoing a further development within a certain collective. Using the command sounds like an advantage, but it is not. The team will never reach consensus. Debates about the appropriateness of each rule or option will continue too long and it seems to me bright shouldn’t be expected in this case. The matter is that every trader has got his unique individual altitude to trading risks. The risk that each individual person wants to take is completely different from another person. Everyone has got his unique trading situation and budget, market expectations, rate of patience and so on. If your last transaction has been really winning, you might be over – confident and greedy. If your last deal has brought a great loss, you might have to deal with fear and lack of confidence. Some traders are likely to have a scalping trading style performing fast transactions. Others look for longer trends. Some do not want to move the position of the next day, and at the same time other traders dislike the trading style mentioned above. There’s no wonder you’ll work out your own trading preferences very soon.

It is really vital to realize that forex trading is not the game of chance, though it may look like.
Due to this, people who start trading on the Forex market, are getting into a trap. And this is when a good forex book can be of real help.

Of course, it is pointless to trying reading all forex book info in the world, but extra advice is not an extra.