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set & forget/low maintenance systems

  • #1
  • First Post: Aug 30, 2007 3:05am Aug 30, 2007 3:05am
I am new to this business and have been trying hard to accumulate knowledge. Maybe I've been acquiring the wrong sort of knowledge because the methods I now understand all require me to spend large amounts of time in front of my pc. Trying to fit this into my normal lifestyle is leading to mental exhaustion and I wonder if someone could recommend a profitable system that doesn't require huge amounts of time in front of the pc.

Thanks.
  • #2
  • Aug 30, 2007 4:19am Aug 30, 2007 4:19am
Hi Mate,

one thing I have learned about trading is that its a self developement course in its self, its not a get rich quick scheme or a holy grail.

when you trade you need to understand that you bring into the trade all your good habits and unfortantly all of your bad habits (and the bad habits tend to get magnified by about 100%), its about getting to know yourself.

so you need to ask yourself a few questions;
like do I want to make a lot of money, average money or do I just want to get by.

then you need to develope your skills and the most important is discipline.
thats disciplined thought, rules and action and if you can't commit to these basic rules then walk away now and dont waste your time and money because entering a maket whether its stocks, options, futures and even fx tradering the big boys will eat up without blinking an eye.

sorry if it sounds like I'm venting, just finished a conversation with a friend that wants me to teach him how to trade and basically he decided that trading was to hard (which it is if you believe it is) and wanted me to trade for him. So I asked him a question as to where else in his life does he give up on things and really invited him to have a look.

so basically there is no quick and easy method to give a new comer to the game because you wont believe how simple it is and you will probably try and reinvent the wheel.

hope this helps and I could go on for pages and pages about this stuff.

good luck Go Getter
Go Getter When Trading Its All About "WHO YOU ARE BEING"
  • #3
  • Aug 30, 2007 7:54am Aug 30, 2007 7:54am
Quoting bundubill
Maybe I've been acquiring the wrong sort of knowledge because the methods I now understand all require me to spend large amounts of time in front of my pc. Trying to fit this into my normal lifestyle is leading to mental exhaustion and I wonder if someone could recommend a profitable system that doesn't require huge amounts of time in front of the pc.

Thanks.
I can certainly relate to that.

  1. Concentrate on position trading systems.
  2. Test it then test it some more.
  3. Be prepared to use LARGE stops.
  4. Accept losses when they occur, don't second guess yourself.
  5. Allow the winners to run and run and run to make up for the LARGE stops.
  6. Resist the temptation to change to a different system.

This list could go on and on... but you're better off doing the research in the System Thread yourself. It can be done. I'm doing it, but my system is still young and too fragile to be let out just now. There are so many things to concider such as your brokers platform(order types), account size... here we go again.

No knowledge you aquire is wrong and there's no substitute for hard work in this field. Forex isn't about quick-n-easy (unless your a fraudulent broker)

Wow, this is sounding like a lecture. I hate lectures! Seriously though, I've waisted way too much time and money looking for quick-n-easy in the past. Now I'm seeing good results from simple-n-effective, but it has taken much hard work and constant study, testing and retesting and I don't expect things will ever take care of themselves.

One more thing. Check out PeterFM's Thread for beginners. It's not just for beginners BTW. He offers a great deal of sound advise with links to other threads where he got reliable info.

Hope this helps
MM

  • #4
  • Aug 30, 2007 8:52am Aug 30, 2007 8:52am
Hi bushman.....

Some time ago you asked about the Daily Fozzy Method; did you research this? It can be a very simple, low maintenance, minimal time required, almost set & forget trading strategy. I know there are people who successfully follow the basic, simple rules set out by Fozzy in the first post of the original thread. Some of us have developed this strategy further for various personal reasons, but the end result is the same; it's positive. I suggest you read the e-book prepared by thebhoy, and if that piques your interest, then take a closer look at the original thread. HTH!
  • #5
  • Aug 30, 2007 9:34am Aug 30, 2007 9:34am
Quoting BeachBum
Hi bushman.....

Some time ago you asked about the Daily Fozzy Method; did you research this? It can be a very simple, low maintenance, minimal time required, almost set & forget trading strategy. I know there are people who successfully follow the basic, simple rules set out by Fozzy in the first post of the original thread. Some of us have developed this strategy further for various personal reasons, but the end result is the same; it's positive. I suggest you read the e-book prepared by thebhoy, and if that piques your interest, then take a closer look at the original thread. HTH!
Hi BB

You always seem to be coming to my assistance and I'm grateful for it. I have to admit I was a bit intimidated by the size of the Fozzy thread and never really got going on it. If I'd realised how many fruitless hours I was going to spend on MA crossover systems I'd have thought differently. Thank you for the timely reminder, I'll get started.
  • #6
  • Aug 30, 2007 9:37am Aug 30, 2007 9:37am
Thanks Go Getter and thanks Micro. You make some very valid points which I have taken on board.
  • #7
  • Aug 30, 2007 9:38am Aug 30, 2007 9:38am
Quoting bundubill
Hi BB

You always seem to be coming to my assistance and I'm grateful for it. I have to admit I was a bit intimidated by the size of the Fozzy thread and never really got going on it. If I'd realised how many fruitless hours I was going to spend on MA crossover systems I'd have thought differently. Thank you for the timely reminder, I'll get started.
Great! PM me if needed...........and reserve a 'Squires' for me too!
  • #8
  • Aug 30, 2007 10:41am Aug 30, 2007 10:41am
Quoting bundubill
I am new to this business and have been trying hard to accumulate knowledge. Maybe I've been acquiring the wrong sort of knowledge because the methods I now understand all require me to spend large amounts of time in front of my pc. Trying to fit this into my normal lifestyle is leading to mental exhaustion and I wonder if someone could recommend a profitable system that doesn't require huge amounts of time in front of the pc.

Thanks.
Hi Bund,

I agree with BB above,
The Fozzy is great IMO for what you may be seeking. Hell even I learned it a few months back. Now I am a scalper/day trader....yet recently opened a sub account just for Fozzy trades longer term.
It really would be worth your time.....I don't usually thumb thru the "sytems" section much, if at all.....yet happened across it one slow night, and it has helped me develope another side to my trading that I REALLY had a hard time with.....longer term trades.
Best of luck to you
Proper Prior Planning Prevents Piss Poor Performance
  • #9
  • Aug 30, 2007 12:24pm Aug 30, 2007 12:24pm
Quoting FxJarhead
Hi Bund,

I agree with BB above,
The Fozzy is great IMO for what you may be seeking. Hell even I learned it a few months back. Now I am a scalper/day trader....yet recently opened a sub account just for Fozzy trades longer term.
It really would be worth your time.....I don't usually thumb thru the "sytems" section much, if at all.....yet happened across it one slow night, and it has helped me develope another side to my trading that I REALLY had a hard time with.....longer term trades.
Best of luck to you
Thanks FxJ
  • #10
  • Aug 30, 2007 12:35pm Aug 30, 2007 12:35pm
Quoting BeachBum
Great! PM me if needed...........and reserve a 'Squires' for me too!
I'll almost certainly take you up on that BB, but I'll have to reserve you a 'Castle' or a 'Lion' - I'm an African bushman ! (though sadly not there anymore ) but hoping to be drinking the 'Squires' stuff in the not too distant future.

Thanks mate
  • #11
  • Last Post: Jan 8, 2018 7:57am Jan 8, 2018 7:57am
it is DI + DI- crossover, need to wait for one day extra otherwise it can repaint.
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