is buying a trading system worth it and which?

[scoobiedoo]

Hi, I have been over saturated with so many strategies and indicators I am kind of in a whirlwind. I was thinking about purchasing a trading system / platfor (Seven Summits Trader) and was wondering if it is worth it or if there is another that would be better? Or are they altogether just another rip off?

 

[Fxpipper]

You can check some of the reviews posted and if a product/service in question is brand new, stay away until it has been tested by someone else. As regards the 7 summits, it is not possible to forecast the market in advance and if you look at their sales page, you'll come across the one liner "legally forecast the market"..what the heck does that mean?
Either way, for my 2 cents, not sure about this..would stay away.

 

[scoobiedoo]

Thank you for that. It's $1200 so I'm glad I asked, I will not be buying it. Do you recommend any good systems? I'm trying the Cobra Forex system which is free actually but just doing back-testing, haven't tried it live yet. Let me know please if you have heard any bad water on that one. I'm just looking for something dependable though so if anybody has any suggestions it would be appreciated. I do look for reviews by the way but I never know if it could be a website created by the people selling the trading system.

 

[Fxpipper]

For starters, there's no easy way when it comes to this market. Stay away from EA's, they are designed to make $$$$$$ for one person and that's the developer. It is not possible to automate trading, at most, you can subscribe to trading signals but that's about it. As regards the effectiveness of these signals, that depends on the provider.
No to EA's and certainly 7 Summit whatevers.
Nothing beats manual trading and that's the truth!

 

[scoobiedoo]

great advice thank you.

 

[fxability88]

I think for newbie, it's also not easy to just buy a method, learn it, then trade profitable tridng.. Because I think there's too many factors to be analyzed in fx trading, and I'm not sure newbie will grasp it in just 1 week or 2.

 

[Fxpipper]

Ahh, there's no easy solution when it comes to manual trading. You need to put in the time, effort to learn the trade and that's the truth. Try this one for size, to this date no automated solution exists that can convert every single trade profitably.
Here's a factoid: If such a solution did exist, no one would put it up for sale as they would prefer to keep the money maker for personal use. To put it in two words, "human nature"