Does anyone else use no indicators or any real system when trading? I personally don't think that this 'system' can lead anyone to success. I knew a couple of examples when people started confusing trading with gambling. They opened and closed positions when they wanted (without any calculations), didn't use money management rules etc. And their deposit were flushed in less than a month. For me the only way to successful trading is to pick an existing trading strategy (or even invent a new one) and strictly follow it's rules. What are your views about this? Please share your opinions.
You have to set yourself some rules, at very least when to admit being wrong and when to take profits when speculating, otherwise it's going to be just random guessing.
like the man (Ed Seykota) said, the system is just to eliminate everything you don't want to do for yourself (I paraphrase) When you can't make up your mind, you resort to a system, the oldest one being the coin flip. (heads long tails short, although many contrarians are now going short on heads, but backtesting shows it's always better to go long on heads.) I've also used the system method to smooth out the bitch factor in my marriage, that's why we always have "Taco Tuesday", just so nobody has to bitch about what is for dinner at least one night a week. Whenever you can't figure something out, just delegate it to a system.