DislikedDo you think there is a profitable strategy on forex forums?
This is the question that one of my friends asked me and took me to the old days when I would read every topic popping up on forex forums such as forex factory, I think it was 2007.
Like most people around here, I was looking for a profitable strategy... actually no, I was trying to find the holy grail, a system with no flaw, is that familiar to you?
Anyway, that's another story.
When my friend asked that question, the first thing that came to my mind was, I don't think so.
Have you tried all of the strategies there? , I asked myself, maybe there is one, or at least there is a strategy with a potential of profitability.
I remember, every now and then I would find a thread with high-quality content. The OP of the thread knew what he/she was talking about to a great extent and the strategy could have been profitable if I had used and tried to find its strong suits.
That's why I paused when he asked the question.
Then something came into my head!
Let's backtest some of the strategies on FF or maybe other forex forums to find out the answer.
I'm not actually talking about backtesting using EAs because first many strategies either can't be turned into an efficient EA or if it's possible, the creator hasn't made one for it and my programming knowledge is just at this level: buy when MA 6 crosses MA 12; actually, I can't remember how I did that.
Plus, I want human feelings and decisions to be involved
That's why I decided to backtest the strategies manually by using some simulators made for this purpose such as fxblue simulator which is a free MT4/MT5 add-on provided by fxblue for free.
For the first strategy, I picked "trading made simple" thread from FF because first it's been around since 2011 and has more than5000 posts and second, it's still active so people probably see some results that make them committed to the strategy. So basically I think it can be a good start.
I've backtested that in three separate years and I'm gonna publish the results, probably tomorrow because I need to find some time to write what I found about the strategy.
In the meantime, let me know your thoughts on this subject.
What do you think about trading strategies on forex forums? Do you think they are profitable?
Do you have any suggestions for the next backtesting? Is there any specific strategies that you want to be backtested?