Many currency traders spend their time searching for the ultimate trading system. They might purchase the latest and greatest mechanical systems from other traders, or they just spend countless hours trying to piece together their own catchall technique. The problem with these strategies is that the currency market evolves over time. When too many people start using the same criteria for conducting their Forex trades, those methods cease to be useful. In other words, systems can only be so effective; once enough other traders begin to copy such systems, that system stops being effective.
This means that in order to stay ahead of the competition in the Forex market you must always be looking to grow your trading system. The optimum trading strategy or the Portfolio Prophet for an individual is also always evolving. Whatever your trading philosophy might be, you need to always be looking for an edge over other traders in order to keep your own trading profitable. Think about it this way: if there was a single system that worked perfectly, why would anyone not be using it? Taking this a step further, if everyone used the same system, why would there still be losing trades? This implies that there is no single correct strategy. If there was, there would be no currency trading since everyone would now be using a single global currency. We know that this is not the case; therefore we must always be looking for the most profitable angle. The sooner we can find such an optimal strategy, the longer we can use it before others discover it. This will always happen, thus making finding our own optimum strategy an ever evolving goal.
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