The Dukascopy community has drawn people from diverse backgrounds, pursuing different passions. Therefore whether one is a model, writer or poker player in on order to crystallize the winning prize the rules dictate that a minimum trading turnover be achieved among other conditions as shown in Fig 1.
Fig 1: Prize and awarding Rules for the Fundamental Analysis Contest.
Therefore, regardless of one’s passion and interest, ultimately to be successful one has to be a god trader. Being a good trader starts with creating a working trading system.
A trading system can be defined as a set of specific rules, or parameters, that determine entry and exit points for a given Forex pair. Further to that a trading system is a comprehensive strategy that takes into account six very important factors.
In this article, we will cover the general approach to creating a rule-based trading system.
- Examine your Mindset
Know yourself: The first port of call will be choosing the right contest that matches your style, passion and competences among the various contest on offer in the Dukascopy Community. This will ensure that you enjoy whatever you will be doing and eventually open up th…