Not taking every reversal signal | Forex Factory

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Not taking every reversal signal

  • #1
  • First Post: Oct 11, 2006 7:26am Oct 11, 2006 7:26am
As a computer programmer, nothing would thrill me more than having a mechanical system to program against; and sitting back while waiting for it to roll in money for me.

That said, I have awaken like Rip Van Winkle; and 100+ Forex e-books later; it seems that human discretion is the key.

Trading 100% mechanically, I've lost money 7 out of 10 times.

Trading with a little bit of discretion, I'm 10 for 10.

Talking with aha, he says I'm trading a "modified" mouteki. I don't think I am, I'm just viewing the signals with discretion.

Thanks to Horace etc et al, I am forward testing in accelerated time from 2005/01/01 to today. (MT4)

so far, profitable almost across the board.. I'm very encouraged by this.

Thus I encourage everybody else to try it by hand and go from there... This way, you can learn without paying real tuition.. (Don't be so eager to throw your money away!!)
google:
  • #2
  • Oct 11, 2006 7:38am Oct 11, 2006 7:38am
Quoting twoblink
As a computer programmer, nothing would thrill me more than having a mechanical system to program against; and sitting back while waiting for it to roll in money for me.

That said, I have awaken like Rip Van Winkle; and 100+ Forex e-books later; it seems that human discretion is the key.

Trading 100% mechanically, I've lost money 7 out of 10 times.

Trading with a little bit of discretion, I'm 10 for 10.

Talking with aha, he says I'm trading a "modified" mouteki. I don't think I am, I'm just viewing the signals with discretion.

Thanks to Horace etc et al, I am forward testing in accelerated time from 2005/01/01 to today. (MT4)

so far, profitable almost across the board.. I'm very encouraged by this.

Thus I encourage everybody else to try it by hand and go from there... This way, you can learn without paying real tuition.. (Don't be so eager to throw your money away!!)
Hey

Excellent point
I don't even take 50% of signals (mechanical or otherwise). I always look at the broader picture, the 1D chart to see where I'm at before deciding. Two fractal points with a thin line between them (whether drawn by hand or otherwise).....nice place to start looking. But that's all it is.
"The market will rally from this or lower levels"
  • #3
  • Oct 11, 2006 8:05am Oct 11, 2006 8:05am
Quoting twoblink
As a computer programmer, nothing would thrill me more than having a mechanical system to program against; and sitting back while waiting for it to roll in money for me.

That said, I have awaken like Rip Van Winkle; and 100+ Forex e-books later; it seems that human discretion is the key.

Trading 100% mechanically, I've lost money 7 out of 10 times.

Trading with a little bit of discretion, I'm 10 for 10.

Talking with aha, he says I'm trading a "modified" mouteki. I don't think I am, I'm just viewing the signals with discretion.

Thanks to Horace etc et al, I am forward testing in accelerated time from 2005/01/01 to today. (MT4)

so far, profitable almost across the board.. I'm very encouraged by this.

Thus I encourage everybody else to try it by hand and go from there... This way, you can learn without paying real tuition.. (Don't be so eager to throw your money away!!)
Manual backtesting since 1/1/2006 is showing interesting results. Many times you are victim of spikes. I agree that human factor {discretionary part} can improve system dramatically. Easy money is not in my life equation, Im just trying to think outside of the box. Could you, if possible, shed some light on the discretionary part?

Any response appreciated
Bluefish
  • #4
  • Last Post: Oct 19, 2006 2:32am Oct 19, 2006 2:32am
http://www.forexfactory.com/forexfor...ead.php?t=9064

I try to shed a lot of light in that thread..
google:
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