Current status, November 25th 2010: I've made it past the first hurdle, or is the 10th...? I've got a profitable system! Can you believe that?! Oh it feels so good!
It's totally technical, no discrete decisions at all, and no fundamentals. Backtested the s**ker for 10 years, and yes, it's got drawdowns, but nothing good old MM can't take care of. Been trading it for a while now, and it has brought 11% to my account.
Naturally, there are no guarantees that it'll continue to be profitable, but the odds are good. It has got a few crucial compontents. It's also simple and straightforward.
I'm also aware that there are more hurdles ahead but they will improve my system.
I won't share it. I've been taught (Thank you so much! You know who you are...) that one has develop as a trader (and as a person) by yourself. It makes findings all that more clear and one achieves a greater understanding for the system and the indicators in it, and how they work on the inside.
But I'm happy to share another "system". I trade it on EU 1H. There's a summary in post 397 in this thread. Please feel free to comment and/or as questions. I've been trading it for nearly two weeks and since then it has added 16% (2% risk) to my account.
Three threads that has been very helpful:
Hi *,
I've been trading for two years, give or take a few months. Stocks, stock options, forex, scalping, indicators, this system and that system. Lost approx. 10% on a $15K account, went back to a $2,5K account and lost approx. 75% of that. Got kicked in the a** by volatility. Etc, etc.
However, I just can't believe that I won't eventually succeed. As of July, I changed my strategy (again...) to trading daily charts only. Buying or selling, with the main trend, at the end of retracements. Maybe I will publish this strategy in greater detail later, but I've pretty much got it all from different threads here at FF.
I have to say (although it's a common newbie statement), please bare with my misspelling and bad grammar. English is not my first language.
Anyway, go ahead and learn something, or, more likely it seems, have a good laugh on my behalf. "More likely" as in the "95% will fail" rule...
It's totally technical, no discrete decisions at all, and no fundamentals. Backtested the s**ker for 10 years, and yes, it's got drawdowns, but nothing good old MM can't take care of. Been trading it for a while now, and it has brought 11% to my account.
Naturally, there are no guarantees that it'll continue to be profitable, but the odds are good. It has got a few crucial compontents. It's also simple and straightforward.
I'm also aware that there are more hurdles ahead but they will improve my system.
I won't share it. I've been taught (Thank you so much! You know who you are...) that one has develop as a trader (and as a person) by yourself. It makes findings all that more clear and one achieves a greater understanding for the system and the indicators in it, and how they work on the inside.
But I'm happy to share another "system". I trade it on EU 1H. There's a summary in post 397 in this thread. Please feel free to comment and/or as questions. I've been trading it for nearly two weeks and since then it has added 16% (2% risk) to my account.
Three threads that has been very helpful:
- Help for Newbies. What can you learn on Forex Factory?
- CrucialPoint (excerpt from my trading journal over the years)
- Jacko's Forex House of Pleasure and Pain
The above has been added AFTER this thread was started. Below is the original first post.
Hi *,
I've been trading for two years, give or take a few months. Stocks, stock options, forex, scalping, indicators, this system and that system. Lost approx. 10% on a $15K account, went back to a $2,5K account and lost approx. 75% of that. Got kicked in the a** by volatility. Etc, etc.
However, I just can't believe that I won't eventually succeed. As of July, I changed my strategy (again...) to trading daily charts only. Buying or selling, with the main trend, at the end of retracements. Maybe I will publish this strategy in greater detail later, but I've pretty much got it all from different threads here at FF.
I have to say (although it's a common newbie statement), please bare with my misspelling and bad grammar. English is not my first language.
Anyway, go ahead and learn something, or, more likely it seems, have a good laugh on my behalf. "More likely" as in the "95% will fail" rule...
- Pro's: Feel free to post constructive criticism.
- Newbies: Don't repeat my mistakes!
Until later, have a nice day, week and month
Regards,
beam