Disliked{quote} If that is all you can do in 18 years, would not it turn off newbies from forex trading. I thought you should be able to do a hell of a lot more than just buy popcorn. Thanks and ReagrdsIgnored
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Disliked{quote} If that is all you can do in 18 years, would not it turn off newbies from forex trading. I thought you should be able to do a hell of a lot more than just buy popcorn. Thanks and ReagrdsIgnored
Disliked{image} XxixixX Would you care to share or teach some of your successful strategies that made you a great trader. What eas do you use etc. Thanks and RegardsIgnored
Disliked{quote} What strategy do you use in pyramiding? What is the ratio of the new positions to the initial one, how far do you stack your pyramids from each other? And what exactly gives you the confidence that the trend in question, at that point, is most likely to continue?Ignored
Disliked{quote} Agree. I do the following two types of stencils via automation (without bothering the news time as news trading is my discretionary style for reserved only for certain weeks in a year:-) Red Engulf/OutsideBar(OB)+Continuous Red bar(CB) >Enter Short Trade >> This is my trend following signal Red Engulf/OutsideBar(OB)+Continuous Red bar(CB)+CB+CB+(x number of times) >Enter Long Trade >> This is my countertrend (OverSold) signal. reverse for overbought but doing the above on the same timeframe won't work or else everyone will be insanely wealthy....Ignored
Disliked{quote} Thx. Could you please share your max %drawdown from peak AccountEquity (and not accountbalance) and... 1) how do you measure MaxDD? 2) what steps you take to prevent MaxDD 3) and what actions you take when Max DD is reached 4) and only if you want to share, what's your Annual %Profit / %MaxDD Ratio ?Ignored
Disliked{quote} Thanks for your detailed response. You are my HERO if you are able "to double accounts each year for the past 3 years with a MaxDD of 9%." Do you increase position size while stacking/pyramiding? That's the only way I know of that will increase profit and reduce drawdown and this type of pyramiding is VERY HARD. You got some skills if you are doing this consistently. Doubling the account every year with just 9% Max DD is an incredible feat. I am trying for over a year to limit my max DD to under 15% and it is one tough nut to crack. Could...Ignored
Disliked{quote} Thanks for the compliment, however I do not view myself as a great trader just someone that is persistence, accepted my weakness and developed processes to overcome them. I do not use EA's. I look at momo, patterns, fibs, laws of nature, etc.Ignored
Disliked{quote} Do you think stacking of trades give you an edge and can a trader's have an edge only with money Management? ThanksIgnored
DislikedHere is an example of GBP and the how institutions have been driving up prices since 2 days ago. {image} Not much of a pullback as they have been, adding and adding and adding, which is fine, I just want to ride with the whales Here is an example of GBP/AUD along side of the index chart posted above. {image}Ignored
(answer this to yourself before you continue reading)
Okay, I want you to imagine these:
Let me ask you again, which one is the most important?
(answer this before you continue reading)
If your answer is the brain, or the heart, or the lungs, or the liver, or the blood... then you're wrong!
Each are vital for survival. And each are equally as important as the other. Each are working as a whole and not as independent. They are all interdependent of one another. If one fails... Everything fails as a whole.
My trading philosophy puts emphasis equally to every aspect because I know if one is weak, it will affect the whole. If one fails... Everything will fail.
Amateurs are too busy debating, arguing and emphasizing on the one. Professionals are far away on a different plateau with their thinking and philosophy. "
"What if today was the first day of trading and trading never existed before today? What would your signals rely upon? Hypothetically speaking, what if the president banned all price history and is deleted in an instant? Does that mean you will never have the opportunity to trade because you can't figure out a signal to buy or sell?... because your signal/system to enter the market is reliant on historical data. - CrucialPoint"
"
Explanation: :nerd:
I've tested so many trading system that I can spot a failed trading system a mile away! It takes me 1-minute to figure out whether a system is successful or not. I don't even have to back-test it. And with a 98% accuracy that I am right with my assessment.
Every failed trading system has a pattern and if you have that within your system, it will fail. You don't need to waste your time to back-test a failed system.
Here are the pattern and signs of a failed trading system (excluding money management and trading discipline):
A system that doesn't clearly define the market condition is a failed system. Is it in an uptrend or a downtrend? Is it ranging or trending? If a system fails to address this issue it is a failed system in the long run. At best, it will be a break even outcome.
The best example of this are breakout systems; place orders at high/low here and here, set and forget, place stop or trail it.... Hold your horsie for a minute! Is the breakout with or against the trend? Is the anticipated breakout within a ranging market or not? Can you see the difference by simply finding out the market condition before entering can affect the outcome?
A system that takes every signal of buy and sell is a failed system. Whether you are using indicators or pure price action with naked charts, a buy within a downtrend market will quickly reverse. And a sell within an uptrend market will quickly reverse at a blink of an eye. Even trading within a trend, a false signal will occur during the exhaustion phase.
A system that has more than 3 indicators is a failed system. It is like having a motorbike that has air-conditioning . Traders who love stacking indicators don't know how indicators work. Indicators don't work that way.
Any system that possess any of these 3 points is a failed system. When you understand that there are different market conditions, you will understand why these 3 points will create or break a trading system (excluding money management and discipline). Vice versa, a profitable trading system possess the opposite of these 3 points."
Dislikedxx, here is my question. Do you have a trading plan that you follow religiously? does your trading plan have everything from mechanical entry points to risk management? honestly the only trader i have ever found on forexfactory to know what they're talking about is CrucialPoint if you trade without a trading plan that can be followed religiously with a blindfold, then your not really a professional. you just have something. real professionals can multiply their account much more than once a year. what I also find very odd is you don't support starting...Ignored