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Are we all idiots?

Im guessing you use a broker who exaggerates the true spread. eur usd for example has ZERO spread most of the time in actuality. Sometimes even inverse and only 1 to 3 pips at times of fast movement. For scalping you need a broker that offers this, My broker charges 0.7 pip return, which is high, but cant find cheaper yet.

If your intention is to trade a higher time frame, why are you bothering with 1 min scalping. Just trade the system that you designed.
AmmaBoss, why did you start with one minute scalping? Don't you think, it would be better to start with higher timeframe? If you can see some sort of pattern on one minute timeframe, you should see it on bigger timeframe as well.

There would be probably less "patterns" but trading is about waitting for right entry, when you entry you need to see exactly your exit, you need to see that probability in every trade.

After that, when you will be successful on higher timeframe, you can try scalping.

Trading is about freedom, try to develop trading system on higher timeframe, you will have less noise, less stress, more free time and in that free time if you will get bored, you can go to one minute timeframe and do some scalping.
  • Post #103
  • Quote
  • Edited 11:22am Aug 21, 2018 10:50am | Edited 11:22am
Quoting Badget01
AmmaBoss, why did you start with one minute scalping? Don't you think, it would be better to start with higher timeframe? If you can see some sort of pattern on one minute timeframe, you should see it on bigger timeframe as well. There would be probably less "patterns" but trading is about waitting for right entry, when you entry you need to see exactly your exit, you need to see that probability in every trade. After that, when you will be successful on higher timeframe, you can try scalping. Trading is about freedom, try to develop trading system...
Agreed , I'm just trying to stay profitable on the one minute time frame for a period of time , to determine if the pattern is viable.
I expect much better results when i switch the time frame but for the purpose of this demo , I do not have the time to trade the large time frame long enough to get a decent sample size.
Also I personal customize my lots size to ensure I am paying at least $1.20 per trade despite whatever pair I trade.
Note also: it IS possible to be left owing your broker money, they know where you live so a slight but distinct possibility of a Lawyers letter, particularly if you live in a region where outages are common and you dont use a stoploss.

Be aware also, the last 4 months have been tame because August ends the down season and september is the month the "players" come back to the market. May is when they leave. I never forget what they can do, send the 1 min bar into a 3 second 150 pip frenzy back in 2014, nobody gets out alive, those who dont avoid the news releases perish. (oanda is great to see news events on the chart, though I dont bother to trade with them anymore)
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Quoting richyRich27
Note also: it IS possible to be left owing your broker money, they know where you live so a slight but distinct possibility of a Lawyers letter, particularly if you live in a region where outages are common and you dont use a stoploss. Be aware also, the last 4 months have been tame because August ends the down season and september is the month the "players" come back to the market. May is when they leave. I never forget what they can do, send the 1 min bar into a 3 second 150 pip frenzy back in 2014, nobody gets out alive, those who dont avoid...
I have a eu broker , so I have negative balance protection at the cost of low leverage.
but yea I usual have a hard stop of 7 pip
NBP means they put you in a sandbox,, no chance of progress as they limit you in many ways to protect themselves from your possible large losses. Theres no free lunch, negative balance conditions make trading very limited. Leverage limitations etc. It is however a viable solution for many folks, so Im not knocking it.
The very thing that I thought about after reading this thread was onions.

In fact I've lost a number of hours sleep thinking about the laws in which onions exist.multiple layers all co existing and at different stages within there existence.

One law in the overall state of an onion is that it respects the law in which it exists.but on the other hand whilst developing it appears to break certain given laws and yet all ways in its present state obides by these laws.

If I was to try and give a comparison it would be the way engineers often curve fit whilst in the developing stage and on completion always stay within the boundaries of the maths.

I guess if we don't understand the laws in which price exists and the boundaries of the maths within those laws then we can only describe our selves as idiotic.an onion.

But imagine if we understand these laws and are brave enough to also except that price it similar in nature to that of an onion with endless layers at different stages of it's very existance which during it's developing stage does not always adhere to those laws which are never compromised in the completed stage we may discover slight advantage .

If we apply the tools at hand with the knowledge of the laws it's not enough.we need to take advantage of the shifting probabilities during the developing unfolding price.look into the onion somewhat. I guess it's a cheat.

But I'm sure I will be slandered for suggesting anything that remotely goes against these laws that nobody really gets .the chaos that disguises this intricate perfectly set of rules is the reason for failure. You can't see something you are not looking for.just peel back a few layers and look.

I'm happy to be called an idiot
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100 trades completed draw-down of 2.2%( $5)
Total profit lost to the spread $120-$150.
Many errors were made, however the results was fairly good.
I think I will put up another TE , my next objective would be to turn $250 into $1000 using the right money management and my system.
Quoting AmmaBoss
100 trades completed draw-down of 2.2%( $5) Total profit lost to the spread $120-$150. Many errors were made, however the results was fairly good. I think I will put up another TE , my next objective would be to turn $250 into $1000 using the right money management and my system.
Congrats, the experiment is over, with what seem to be adequate results.

On a side note, you mentioned many mistakes. If I was to ask you what the nature of those mistakes were, I would wager it was the many side trades we all do, executive decisions, particularly after a normal system loss, that we should just accept, instead, we take a chance hoping to reduce the loss or whatever cock-eyed logic springs to mind. I STILL catch myself considering it and once considered, the hand moves the mouse without the brains consent lol

Not money management, not over leverage, but it is these side trades that double the losses for an otherwise viable system.

Well done mate, hope to hear about your continued success.
---There were only 3 incidents , where I held on to losses hoping they return tbh.
--- And 3 incident where I took revenge trades
---There were about 4 incidents where I loaded my template with preset automatic take profit and stoploss to 10 pip as I normal for forex , however the correct setting for indies is 100, 2 out of these trades would of been were massive winners , 2 were small losses.
-I also tried to switch indies from ger30 to UsaInd, However the spread was hoping from 1 to 5 pip in a instant therefore making my limit order ineffective as 5 pip is usually my stop on these pairs due to there massive ADR, this happen about 3 time.
---Then in range market my edge suck , 80% of my losses would be in range market , however 90% of the time my edge will also occur at the end of the range as price is ready to breakout many times I had 3-4 losses then took a break only to see my break out in the 1 or 2 trades, so by addressing this I thik my results would be better , while most people say your previous result have no impact on the next one , The longer price range the better and stronger the breakout is gonna be so I would not advise stopping trading after a few losses.
---Many time I took profit just because I was in draw-down and the profit would get me back to breakevem , this surely made me lose some pips.
Therefore I was pleased the results , also you do not need a massive edge in Forex to make money , I believe once you can a sure that you would win 50 out of every 100 trades ,I would say a edge of 55/45 would be enough to achieve this, you can then twisted your money management to make a decent profit with relatively low risk.
Most retail traders try to give the impression they are smart by talking big and posting useless charts without showing any evidence of profitability.

This forum is filled with traders with ego issues.
'For the market to work, it needs people who think that they can beat it.'
I was forced to abandon this project well trading on a whole due to serious life issues.
However, I finally had some free time and decided to pick back off where I left off.
I am a scalper by nature so my stop loss averages between 2 pip - 3 pip max.
my broker fee is on average .6 pip per trade, after 120 trades I still somewhat what positive.
According to the calculation, I should at least be about 70 pip down approx.
which is massive considering the size of my stop loss, wouldn't it be fair to say that there must be at least somewhat of an edge within my method?
If not would someone be able to calculate the odds of this occurring?
( not sure if anyone is still interested in this thread.
https://i.imgur.com/ivSCW25.png
No. You are not idiots. How are you supposed to master something without any education on that topic?
Many smart people here on ff. Theres just no proper education on trading.
every one is in prison of his own idea , he must burst it open and that is his youth , and so try to test , his idea in reality , E = mc2
Quote
No indicators , NO SR , No Trendline , NO pivots literally nothing.
I wouldn't even call it price action trading, It was literally a pattern that occur everyday and took countless hours for me to even notice it.
So was anyone else edge so simple , it was almost unbelievable Or am I delusional

Can you give some hints on what kind of pattern you are talking about?, so we can talk about it and how viable it is

What kind of pattern doesnt even use SR at all....?
Quoting patterncode
{quote} Can you give some hints on what kind of pattern you are talking about?, so we can talk about it and how viable it is What kind of pattern doesnt even use SR at all....?
The point of the thread is to decide whether or not we are over-complicating forex.
Anyone asking for hints when a " TE " is present does not deserve to be profitable and their opinion would not matter to me.
Profits would slow down as I have decided to use a more conservative MM method.
Nice thread, Amma!

I wish you all the best with your new test. Btw, do you still use 1m chart now or switched to a higher TF?
Let's go with the flow
Quoting artem_t
Nice thread, Amma! I wish you all the best with your new test. Btw, do you still use 1m chart now or switched to a higher TF?
1 minute still unfortunately still lacking time, stop loss is still 1 - 3 pips .
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