Every trading system is a complex object with a lot of rules. All Forex systems should consist of the entry and exit rules, define the market (instrument) they are designed for and state some position sizing (money management) strategy. Most traders I know give the highest priority to the entry rules of the system, pay some attention to the exits, in half of the cases don’t understand the difference between the trading instruments and have no idea about position sizing. I find myself quite aware about the importance of the position sizing but I’m always struggling to define some reasonable exits for my trading system. Of course, it can be said that all parts of the trading system are equally important. But I wouldn’t agree to such point of view. What do you think?
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