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5 years and still no strategy

  • #2,421
  • Jul 18, 2017 12:35pm Jul 18, 2017 12:35pm
Trading is incredibly difficult. It takes a great deal of time and effort, frustration, tenacity, and determination to develop a profitable strategy. But it is ultimately well worth it.

when I say "develop" I mean you have to try, backtest, tweak, backtest, edit, back test etc etc and slowly but surely you make progress.

You should know exactly what the probability of a profitable trade is before you place it. The only way you will know that is by backtest backtest backtest!
  • #2,422
  • Jul 18, 2017 4:36pm Jul 18, 2017 4:36pm
Quoting Forex-Jedi
Trading is incredibly difficult. It takes a great deal of time and effort, frustration, tenacity, and determination to develop a profitable strategy. But it is ultimately well worth it. when I say "develop" I mean you have to try, backtest, tweak, backtest, edit, back test etc etc and slowly but surely you make progress. You should know exactly what the probability of a profitable trade is before you place it. The only way you will know that is by backtest backtest backtest!
trading is not extremely difficult, but creating your own strategy is I'm not looking for a 100 or 300 pip trades - even 10-15 pips per trade will be enough for me, as I would like to have a few opportunites daily to take a trade and have at least 70% accuracy - that's why I decided to trade on the lower timeframes H1 or H4 doesn't work for me, as I was wasting too much time on them...
Trade or not to trade - that is the question...
  • #2,423
  • Jul 20, 2017 2:02am Jul 20, 2017 2:02am
Quoting freakout
So... I have 5 years of experience, I know price action, I know how to trade with trend, I know how to manage risk, etc., but I still don't have a strategy. Is this normal or it's a waste of time? I'm not looking for a holy grail, but for something really simple with 50% accuracy at 1:2 ratio. 3-5 trades per day during EU session and that's all. I tried to trade H1-H4 pullbacks, pivots, breakouts and many other strategies but without any success... Should I continue my searches or it's time to leave it?
All people have their own trading strategies: range tradings, breakouts, complex technical analysis, or even intuition. The Culture, personality, professional knowledge of different traders, all shape their strategies.

I think as you have years of trading experience, you have already developed your own trading strategies, but just don't realize it yourself. Try to review your own trading records to find out the pattern, examine 1) the reasons behind on each trade, 2)trading periods that are more on your side, 3)trading currencies/index that are more on your side, 4)the win loss ratio and whether the net asset reflecting the ratio, and then cross analyze it with the previous 3 patterns. Very often after the review, you can find out some kind of transactions just happen over and over again. Stick with the good patterns, that would probably your best strategy.
  • #2,424
  • Jul 20, 2017 2:02am Jul 20, 2017 2:02am
Tradinng isnt difficult. what is difficult for some is to have discpline and patience of a saint

Freak, you u sure you want to focus on M5? its very choppy....
Alternative is to trade 8 pairs at the same time .. using d1, W1 and Mo as direction candles and entry from H1 or H4.
Actually if you trade D1 and open all pairs ... theres at least one trade setup in a day.
Life Is Good
  • #2,425
  • Jul 20, 2017 2:04am Jul 20, 2017 2:04am
An example of a super trend, D1. W1 and mo all is going in same direction.

Youll make a kill if u can enter from h1
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audusd-mn1-fxdd.png Size: 90 KB
Click to Enlarge Name: audusd-w1-fxdd.png Size: 93 KB
Life Is Good
  • #2,426
  • Jul 20, 2017 2:10am Jul 20, 2017 2:10am
A H4 equivalent mean renko chart... ) its very clear...

Mean renko chart is awesome
Have u tried mean renko chart?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-h3-fxdd.png Size: 62 KB
Life Is Good
  • #2,427
  • Jul 20, 2017 2:17am Jul 20, 2017 2:17am
AUDLFX,NZDLFX AND AUDNZD CHARTS ON SAME WORKSPACE.

Please take a look at them closely. What do you see?
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-liteforex-investments-limited.png Size: 98 KB
Life Is Good
  • #2,428
  • Jul 20, 2017 2:18am Jul 20, 2017 2:18am
All charts i posted are invaluable please study them

price action guys will love what i posted
Life Is Good
  • #2,429
  • Jul 20, 2017 6:14am Jul 20, 2017 6:14am
Quoting cowcool
AUDLFX,NZDLFX AND AUDNZD CHARTS ON SAME WORKSPACE. Please take a look at them closely. What do you see? {image}
I see your Trade Explorer and see two month result - 10% loss.
  • #2,430
  • Jul 20, 2017 7:33am Jul 20, 2017 7:33am
True , but thats because I have found it not long ago ...
if what I posted is not useful then diregard the posts. MY TA is good but I am still need to overcome my impatience and discipline issue
Life Is Good
  • #2,431
  • Jul 21, 2017 2:27am Jul 21, 2017 2:27am
Quoting cowcool
True , but thats because I have found it not long ago ... if what I posted is not useful then diregard the posts. MY TA is good but I am still need to overcome my impatience and discipline issue
Better offer strategy which already is giving positive results. Good luck to you with new strategy!
  • #2,432
  • Jul 21, 2017 9:09am Jul 21, 2017 9:09am
Quoting freakout
So... I have 5 years of experience, I know price action, I know how to trade with trend, I know how to manage risk, etc., but I still don't have a strategy. Is this normal or it's a waste of time? I'm not looking for a holy grail, but for something really simple with 50% accuracy at 1:2 ratio. 3-5 trades per day during EU session and that's all. I tried to trade H1-H4 pullbacks, pivots, breakouts and many other strategies but without any success... Should I continue my searches or it's time to leave it?
I believe you have too many strategies and you are a master of none. Stick to two or three or even one strategy.
Anyway, i do not have much experience trading but after i did my research i have come to the conclusion that you need to know what suits you. Dont chase everything.
The most successful indicator is the ichimoku followed by the macd(according to a babypips.com extended test of all indicators.Some indicators resulted in losses.You can google this) and i have always followed the ichimoku and i agree.Just my choice.

It follows that indicators like the Awesome oscillator since they are macd lookalikes they shouldnt produce dissimilar results.
I then came across a trader called Rockypoint who has his own forum where he uses the ichimoku and the awesome oscillator.
For me,from his results and routine he is one of the most successful traders.He trades about 2-3 hours a day and out of 3 or 4 or 7 trades a day he loses maybe just once a day and very rarely has two losses a day.If you follow his system with the discipline you will never go wrong.Here is his forum :https://www.forexfactory.com/showthread.php?t=583609
  • #2,433
  • Jul 21, 2017 9:23am Jul 21, 2017 9:23am
Just focus in one strategy and one pair. It's better unless you are a pro and trade for years.
I'm testing a strategy using only price action on USD/JPY and I have good results.
  • #2,434
  • Jul 23, 2017 1:22pm Jul 23, 2017 1:22pm
Quoting Talker
Save your time and efforts. I am more than 15 years in this industry. The only real way to make money on Forex is : Become a broker, Become an Affiliate, Make your trading course, Develop related software in other word use it to build your own bussiness. No trader even successfull ones (and there are so few comparing to losers) survived for a long term So stop wasting your time and efforts Regards Good luck
I see....
You can't cut it so as every broken soul-, write books, advice scam money, whine???
Great!!!!
Beware of robber banks (RB), bad advisors.
  • #2,435
  • Jul 23, 2017 2:20pm Jul 23, 2017 2:20pm
Quoting willfant
Just focus in one strategy and one pair. It's better unless you are a pro and trade for years. I'm testing a strategy using only price action on USD/JPY and I have good results.
I agree. One something is always the best way to start. Either one pair or one strategy. You have to zoom in somewhere. Also, stay away from lower time frames IMO. Leave that for the scalpers.
  • #2,436
  • Jul 24, 2017 4:54am Jul 24, 2017 4:54am
Hi,

I have just began trading and have been pouring over articles, youtube videos to look for a strategy.

I learn over the past few weeks in trading that it's all about practice.

It's like learning any other skills. First you find one that works for you....then you began practicing it and refining it.

I guess why you have not been unsucessful for the last 5 years is because you didn't find a strategy that suit your style.

Find that first, practice it on your demo account and refine your methods.

Also, there are tons of strategies around, but non of them is going to work all the time. Just put in your MM rules and practice, practice, practice
  • #2,437
  • Jul 24, 2017 7:37pm Jul 24, 2017 7:37pm
Man I can show you but you don't have the nuts to try it.
If you really want to see the skills and the method than reply and I'm talking about three years. Hell after the first month you'll be proved wrong. And I'm talking about one pair four days a week a solid strategy with drawdowns but winning trades. So put your account where your mouth is .
. Vs. r u a or do you have the nuts?
  • #2,438
  • Jul 24, 2017 7:44pm Jul 24, 2017 7:44pm
I challenge anyone to separate a live account with just 50 to 100 dollars and play with 10cents a pip only and see what I'm talking about. And watch after the profits you'll adapt it as your own strategy.
  • #2,439
  • Jul 24, 2017 7:55pm Jul 24, 2017 7:55pm
Quoting ewebb205
I challenge anyone to separate a live account with just 50 to 100 dollars and play with 10cents a pip only and see what I'm talking about. And watch after the profits you'll adapt it as your own strategy.
So what is this magical system you have that you keep talking about?
  • #2,440
  • Jul 24, 2017 8:00pm Jul 24, 2017 8:00pm
You see I keep fighting myself not to bring it out because of the value but I'll put it out there. Subscribe to me and I'll start a thread tonight.
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