So, whenever I talk to professional traders about creating a profitable strategy that can generate a 30% monthly profit, they always dismiss it with laughter, claiming that it's impossible in Forex or real-life investments. They argue that if such a strategy existed, a small group of traders would monopolize all the world's wealth, leading to the inevitable shutdown of the market.
Alright, let's lower the bar and ask for a strategy that yields 5-10% per month. They still maintain that it's impossible.
Okay, what about aiming for 2-4% per month? They continue to assert its impossibility.
...And the pattern continues.
Alright, what about considering the Martingale and grid approaches? It's a controversial topic with no definitive conclusion on whether it's a successful approach or not.
Well, then. When I couldn't participate in well-known technical analysis due to my blindness, I once believed that I had missed the most crucial aspect of trading and that my disability was the reason I couldn't develop a profitable strategy.
However, after listening to numerous YouTube videos by self-proclaimed professional traders, reading countless articles, and delving deep into the essence of trading, I've come to realize that everything relies on probability, and nothing is guaranteed beyond 50%. Thus, we find ourselves right back where we started.
Now I am truly obsessed with the idea of creating a strategy solely based on numbers, without any technical analysis. So, for this purpose, I'd like to discuss with you a modification we can make to the grid and Martingale techniques.
What if we traded as follows:
We enter a trade in the opposite direction of the currency pair's movement after it has moved a considerable number of pips. Let's take GBP/USD as an example, which has moved downwards from 1.255 to 1.231. Now, we enter a buy position with a stop loss set at 1.27, which is 40 pips away, and a take profit at 1.252, which is 210 pips away.
Suppose the trade hits the stop loss. In that case, we place a buy limit order 80 pips away from the stop loss point, at 1.219, with a 40 pips stop loss and a 210 pips take profit. Additionally, we set a buy stop order at the same level from which we initially traded, at 1.231, with the same stop loss and take profit approach.
Of course, if our buy limit order gets triggered, we will delete our buy stop order. Therefore, we only place a buy limit order and a buy stop order because our intention is to capture the market's upward movement.
We continue this process as long as the market moves against us. We can also adjust the take profit level if the market moves significantly away from our original entry point, potentially by several hundred pips.
Furthermore, we can incorporate our old friend, Martingale, after reaching two or three levels.
Now, the big question is: don't you think this approach is both safe and profitable?
Please note that now we are not simply adding trades while the market moves against us by keeping the losing positions open. We are also not immediately opening trades in the same direction or doubling our positions as soon as the trade hits the stop loss. Therefore, don't you think this is a very safe approach if we use small lot sizes and trade multiple currency pairs to diversify our risks?
In other words, isn't this a good way to finally make our old friends (Grid and Martingale) work for us after experiencing failures in the market for so many years?
So, what we are essentially dealing with are the repeated upward and downward movements of the market that may trigger our trade and hit our stop loss multiple times. However, we can counteract this by having a substantial take profit target and implementing the Martingale strategy after reaching multiple levels.
The biggest challenge I face is testing this idea. Currently, I have opened a demo account and I am testing it manually, but it is incredibly time-consuming. Do you have any ideas on how to test this more efficiently?
Can you assist me in testing it?
Alright, let's lower the bar and ask for a strategy that yields 5-10% per month. They still maintain that it's impossible.
Okay, what about aiming for 2-4% per month? They continue to assert its impossibility.
...And the pattern continues.
Alright, what about considering the Martingale and grid approaches? It's a controversial topic with no definitive conclusion on whether it's a successful approach or not.
Well, then. When I couldn't participate in well-known technical analysis due to my blindness, I once believed that I had missed the most crucial aspect of trading and that my disability was the reason I couldn't develop a profitable strategy.
However, after listening to numerous YouTube videos by self-proclaimed professional traders, reading countless articles, and delving deep into the essence of trading, I've come to realize that everything relies on probability, and nothing is guaranteed beyond 50%. Thus, we find ourselves right back where we started.
Now I am truly obsessed with the idea of creating a strategy solely based on numbers, without any technical analysis. So, for this purpose, I'd like to discuss with you a modification we can make to the grid and Martingale techniques.
What if we traded as follows:
We enter a trade in the opposite direction of the currency pair's movement after it has moved a considerable number of pips. Let's take GBP/USD as an example, which has moved downwards from 1.255 to 1.231. Now, we enter a buy position with a stop loss set at 1.27, which is 40 pips away, and a take profit at 1.252, which is 210 pips away.
Suppose the trade hits the stop loss. In that case, we place a buy limit order 80 pips away from the stop loss point, at 1.219, with a 40 pips stop loss and a 210 pips take profit. Additionally, we set a buy stop order at the same level from which we initially traded, at 1.231, with the same stop loss and take profit approach.
Of course, if our buy limit order gets triggered, we will delete our buy stop order. Therefore, we only place a buy limit order and a buy stop order because our intention is to capture the market's upward movement.
We continue this process as long as the market moves against us. We can also adjust the take profit level if the market moves significantly away from our original entry point, potentially by several hundred pips.
Furthermore, we can incorporate our old friend, Martingale, after reaching two or three levels.
Now, the big question is: don't you think this approach is both safe and profitable?
Please note that now we are not simply adding trades while the market moves against us by keeping the losing positions open. We are also not immediately opening trades in the same direction or doubling our positions as soon as the trade hits the stop loss. Therefore, don't you think this is a very safe approach if we use small lot sizes and trade multiple currency pairs to diversify our risks?
In other words, isn't this a good way to finally make our old friends (Grid and Martingale) work for us after experiencing failures in the market for so many years?
So, what we are essentially dealing with are the repeated upward and downward movements of the market that may trigger our trade and hit our stop loss multiple times. However, we can counteract this by having a substantial take profit target and implementing the Martingale strategy after reaching multiple levels.
The biggest challenge I face is testing this idea. Currently, I have opened a demo account and I am testing it manually, but it is incredibly time-consuming. Do you have any ideas on how to test this more efficiently?
Can you assist me in testing it?
