I always suggest you to make your own trading system. It is because you know your self best. In other words, you should be the best person to know what match your stock trading’s needs the most. Of course, there are many the ready system (free or paid) available that can be utilized for stock trading. By using the ready system, we do not need to create our own anymore. In other word, it saves our time.
Therefore, if cannot make your own, it may be good to utilize the ready one. As I have said, the most important thing in stock trading is to have a system (a set of rules) to do the trading – either to create your own or utilize the ready one. However, since the ready one usually created based on the creator’s trading experience, it may not match with our trading style. So, please do not be surprised if you cannot make money in stocks even though have used the most popular one.
You might have known the T3B, Chaos, Darvas Box, or Turtle system. All of them are the popular system among stock traders these days. Many say that these system have helped them to make money in stock market but may be not for you. So, we should always be cautious and be critical towards the ready system – especially the paid one. We should always make the deep consideration before buy a trading system.
To help you, I share 10 consideration points when want to buy it:
Trading System’s Consideration Point #1
The system should be already old enough so have been proven during the stock market cycles. The new one is a big no since there may be many “bug” on its inner system.
Trading System’s Consideration Point #2
Do not buy it based on testimonial only. It is better to find out about the system from the first hand user. In other word, you should only buy the system that have prove by someone you know. It is better if you can try it (let’s say for a month of more) for free.
Trading System’s Consideration Point #3
Do not believe on the marketing words. As usual, the sales will only tell you from the best point of view. There are no sales that tell the bad side of their product. Therefore, please ignore the marketing words and try to test the system by yourself before buy it.
Trading System’s Consideration Point #4
There is no a holy grail system in stock trading. Therefore, please do not buy the system that “too be good to be true”. You should never buy the one that offer “one night mega profit”. There is no such thing in stock trading.
Trading System’s Consideration Point #5
Find out how the system’s performance in various condition. For stock trading, find out the performance on each stock market cycles – especially on bearish condition. It is because, on the bullish market, every system will work. In bullish market, You can even make money in stock without the trading system.
Trading System’s Consideration Point #6
Buy the system that match your trading style. As example, if you are a scalper, do not buy the one that created for swing trader. It won’t work for sure. Therefore, knowing your trading style is a must before buy the system.
Trading System’s Consideration Point #7
Find out about the manual book (or e book). Please only buy the system that offers the easy to understand, clear, and complete instructions manual. If the system is good, we should no need a lot of thinking process to operate it. It should be “plug and play”.
Trading System’s Consideration Point #8
The trading based features should be complete. The system should include how to buy, how to sell, when to buy, when to sell, when to hold, when to avoid, money management, and risk management. It may cost more money but I believe it is worthy.
Trading System’s Consideration Point #9
A good after sales service is a must. We do not know when we will need a “consultation” to make the system give the optimum result on our trading activities. In other words, we never know so we should make sure that we can get access to the “help” every time.
Trading System’s Consideration #10
The good data updating and integration is a must. As for example, for stock trading, the system will be integrated with stock market data. We should only buy the system that offers a good stock market data updating and integrating. At least, we should make sure that the needed data will be provided in real-time by the system.
Have a great profit by choosing the right trading system everyone!