Hiya, been trading 18 years, was on here in 2004 16 years ago.
Just something to do - ask anything you like from a veteran
Just something to do - ask anything you like from a veteran
- Joined Apr 2006 | Status: UK Veteran Trader | 612 Posts
I might be mistaken, but were you the one that lead a group of traders many years ago trading a particular strategy that did very well for months until it stopped delivering and you guys decided to pack it up? Did you indeed stop trading the strategy or continued with it? And what have you leant since then as good tips for success in this wild wild west of forex trading?
But then it crashed and died. I wrote a book about it in the pen name of James Windsor.
No-one from the team trades grail anymore but I still trade, my right hand man on grail passed away, my mate in the usa now heads up cybersecuruty, the software guy makes tons and was sued by a broker for taking millions off them with a bot. one of the team bought a landscaping business which he's just about to sell and retire from and he is still looking for the grail replacement bot even after all these years
I have played for the last few years - after grail i ran a radio station, got voice cancer, wrote 22 books on amazon, started a t-shirt business and sold over $4million of shirts and got cancer again - more serious bowel that time around.
I'm now semi retired still with a passive shirt website and my trading to keep me interested. I trade most days but totally manually now. my hit rate is around the 85% mark and i make around 20% - 50% a month
. More than FX I am into gold and silver - just waiting for the death of the dollar and i'll be done 
- Joined Apr 2006 | Status: UK Veteran Trader | 612 Posts
What system do you use for your 85% success rate? Do you use any indicators? Can it be done on the 1 minute or 2 minute? Can it be replicated on other pairs? Thanks Swnlobo
I dont have a 'system' as such, it's more a set of core principals that guides my trading.
most traders look for a way to find an entry that is optimum and then find some sort of signal to get them out. they use say a moving average cross, or a macd rising below zero or a cci sat there with a batmans head on - (can you tell i've done all these before?
) That's not the way to trade successfully. it's all bollocks.If you are all searching for a system or using a system that constantly lets you down then you will have more of the same results that you have now.
all this complicated bollocks and failed trades leads you to believe that either you are a failed trader or you arent trying hard enough. you must be really bad to keep losing money. This is what the banks and brokers want you to think - they pay money to so called 'educators' to teach you even more ways of looking at a myriad of lines on a chart and use fibonacci or a squeeze indicator to show you where the great trades are. of course they never show you a track record and if they do it's a week or so at a time, which anyone can do right? they want you to keep trading.
Some people trade for years and get to break even- they think 'i'm on the cusp' and think that they will soon be profitable - they wont. These are the clients that the brokers love. they churn over money and although they arent losing they arent winning either. they provide liquidity to the markets, they provide the swap fees that the banks and brokers live on. they pay the commissions that they want - and the most important thing is that they don't blow up and they keep on doing it month after month year after year. yes they love you! wining or losing it makes little difference. Thing is though, new customers cost money to find - the longer you are break even the better for them. any way they can use to keep you in the game means less outlay for them to being in that liquidity. you are a cash cow.
To be successful in trading start thinking of the BIG truths of the market. mine are this:
1) Trends exist
2) 95% of the time the long term trend is not broken for a long time
3) The market does not turn on a dime
4) Stops were invented to take your liquidity
That's as far as i'm going to go right now - discuss....
- Joined Aug 2017 | Status: Member | 1,609 Posts
{quote} Hi Wags, nice name lol I did like ta but grail was more mathematics than TA In answer to your question about indicators my answer is none. grail didnt use any indicators at all and today I have nothing on my screen apart from two moving averages. so in answer to which are the best combination of indicators it would be your eyes and your brain. not sure if that helps though
do you mind me asking your MA periods and timeframe you use
On Point All Time Return:
-53.3%
- Joined Apr 2006 | Status: UK Veteran Trader | 612 Posts
{quote} I had a feeling that the reply was going to be a bit like that lol do you mind me asking your MA periods and timeframe you use
timeframes i use are daily 4hr 1hr 5minute and 2minute