My experimentation with a given trading system taught by someone else
For the past couple of days, I have been experimenting a trading system that is taught by someone.
On the whole, it makes sense but if you are someone who makes lots of human errors, then it is not for you.
The losses will be accumulated very steeply especially if it only works for higher time frames but fails at the slightest of human errors. As you know, the bigger the time frame, the bigger the stop loss it has to be. The system must obey a certain risk:reward ratio and you have to see that the reward reaches its maximum potential in order to cover back the losses.
If you have problems trying to ensure the losses are minimal and rewards are maximal due to poorly timed trade entries, there you have it, you become the loser of a silly ploy made by the kind hearted mentor as a gift to share to the world.
I intentionally make a couple of mistakes just to see how much losses it can make after a few trades. It is called a "Dummy Test". Obviously the teacher himself has to be strict on his students and the students need to be strict in how the trade is handled, otherwise the entire group will be suffering tremendous losses with finger pointing at the loser. He has no patience with the dummy who cannot follow his simple instructions, and make the dummy his punching bag of his bad temper. Smells of a typical alpha man in the room, who commands authority because he is confident with proven trading track records and other miscellaneous business and leadership accolades.
Not every trading system is suitable for everyone.
So I leave this group and work out something that will eliminate the human error flaw of this particular system. Better that way and more efficient rather than reporting to him on short term gains from beginner luck. The answer to it is of course the expert adviser.
If you are truly experienced, you would have noticed the flaw of your trading system and do something about it, before teaching people how to use it.
Good thing is that he is a kind person and make it all free except for his proprietary indicators. But I guess he will never know why in the long run, he will have a tough time managing the group performance at the human level.
Perhaps in the end, he is the only one who can make $500k in this world, and he has to be strict about it on himself and his life. It will be his life, if he likes it that way. A highly disciplined person of which there is going to be none except himself and his team members. No laughter. No smiles. No joy. If there is any, it will be artificial just to welcome more members to his gift. And the irony is, I think he already has a robot doing it for him, but he will never give it free to his students.
The "not so kind hearted" strict mentor vs the “submissive and dummy” student with human error - a typical human story in the forex world.
For this system to work perfectly, you need the day's strongest sentiment, scalping accuracy and patience to wait to succeed.
For the past couple of days, I have been experimenting a trading system that is taught by someone.
On the whole, it makes sense but if you are someone who makes lots of human errors, then it is not for you.
The losses will be accumulated very steeply especially if it only works for higher time frames but fails at the slightest of human errors. As you know, the bigger the time frame, the bigger the stop loss it has to be. The system must obey a certain risk:reward ratio and you have to see that the reward reaches its maximum potential in order to cover back the losses.
If you have problems trying to ensure the losses are minimal and rewards are maximal due to poorly timed trade entries, there you have it, you become the loser of a silly ploy made by the kind hearted mentor as a gift to share to the world.
I intentionally make a couple of mistakes just to see how much losses it can make after a few trades. It is called a "Dummy Test". Obviously the teacher himself has to be strict on his students and the students need to be strict in how the trade is handled, otherwise the entire group will be suffering tremendous losses with finger pointing at the loser. He has no patience with the dummy who cannot follow his simple instructions, and make the dummy his punching bag of his bad temper. Smells of a typical alpha man in the room, who commands authority because he is confident with proven trading track records and other miscellaneous business and leadership accolades.
Not every trading system is suitable for everyone.
So I leave this group and work out something that will eliminate the human error flaw of this particular system. Better that way and more efficient rather than reporting to him on short term gains from beginner luck. The answer to it is of course the expert adviser.
If you are truly experienced, you would have noticed the flaw of your trading system and do something about it, before teaching people how to use it.
Good thing is that he is a kind person and make it all free except for his proprietary indicators. But I guess he will never know why in the long run, he will have a tough time managing the group performance at the human level.
Perhaps in the end, he is the only one who can make $500k in this world, and he has to be strict about it on himself and his life. It will be his life, if he likes it that way. A highly disciplined person of which there is going to be none except himself and his team members. No laughter. No smiles. No joy. If there is any, it will be artificial just to welcome more members to his gift. And the irony is, I think he already has a robot doing it for him, but he will never give it free to his students.
The "not so kind hearted" strict mentor vs the “submissive and dummy” student with human error - a typical human story in the forex world.
For this system to work perfectly, you need the day's strongest sentiment, scalping accuracy and patience to wait to succeed.
