Which system is the best? Or which combinations of systems work the best? | Page 2 | Forex Factory

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Which system is the best? Or which combinations of systems work the best?

  • #21
  • Jul 9, 2007 5:21pm Jul 9, 2007 5:21pm
Well, that certainly got a reaction.I actually agree with all of you and to that end I keep learning and of late have arrested the decline of my REAL account and have managed to breakeven for the last 6 weeks.I would, however, like to move to the next level i.e PROFIT and any insight into how to acheive that goal would be welcomed.
  • #22
  • Edited 7:32pm Jul 9, 2007 7:09pm | Edited 7:32pm
Quoting melpheos
Here is the best system :http://www.forexfactory.com/search.p...threadid=37396
Someone stole my system!

Seriously though, on my little newbie journal I've got what, TO ME, are
some nice setups for following the pair that I'm most interested in.
They help me indentify, in real-time, breakouts, consolidations, continuations
and reversals etc. but guess what? Nobody could give a rat's butt!
Why:
1) They don't mean much to anyone else because they didn't conceive them.
Same with me and other people's stuff.
2) They want to be spoon-fed a system or, better yet, just place trades
along with me as I post them. An EA would even be more convenient!

Blueruby said it earlier here: We must become traders.


FXS
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  • #23
  • Jul 9, 2007 7:18pm Jul 9, 2007 7:18pm
Quoting edge540
Well, that certainly got a reaction.I actually agree with all of you and to that end I keep learning and of late have arrested the decline of my REAL account and have managed to breakeven for the last 6 weeks.I would, however, like to move to the next level i.e PROFIT and any insight into how to acheive that goal would be welcomed.

When I first started with fx I thought there may be someone who could just give me the answer on how to be profitable or show me how it is done.
I sure don`t believe that now.
I`ve never even been able to verify a truly successful mentoring program that turns out professional traders.
I don`t believe one exists. But now (2.5 years later) I think I know why.
In my humble opinion all you can do is study systems and read everything you can get your hands on untill your prediction level improves.
I am convinced that no one can give you this, it takes hundreds possibly thousands of hours of monitor time.
The answer is to familiarize yourself with this market until you develop an instinct for market movement.
When you have it you will not be able to just give this instinct to anyone else either.
I think thats why mentoring programs don`t work.
  • #24
  • Jul 9, 2007 8:00pm Jul 9, 2007 8:00pm
I am a firm believer in removing the "trader" from the equation completely. Mechanical trading with EAs definitely fits my personality more than pulling the trigger myself.

Quoting blueruby
I maintain that if there were such thing as a mechanical system, then EA's would work.

Without frequent human intervention ( = trader discretion), they don't.

I know this is bad news, there is no system that can simply be learned and traded.

The good news is, you'll just have to learn to be a trader.
  • #25
  • Jul 9, 2007 8:58pm Jul 9, 2007 8:58pm
There are EA's which work, but you won't find any that make money without huge risk (i.e. Martingale and/or no stop loss) on public forums. I live in NZ so it's either swing trading or mechanical trading, I do both. As time goes on I become more convinced of the power of the computer though.
The breaking of a wave cannot explain the whole sea.
  • #26
  • Jul 9, 2007 9:22pm Jul 9, 2007 9:22pm
How to find system?
Very hard question on Forex.
The problem I see is, very difficult to find exact people who are positive in trading. People who write more convincingly and with nice looking charts not nesseseraly positive themselfs.
I wish it will be possible to have something like fantasy leage for sportbetting but here on forex, to see who is who.
In my experience people who are actually winning in fantasy leages never really post on forums, and people post the most, is the one who looses money in the very first month.
I wish we have something like this on Forex.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #27
  • Jul 9, 2007 9:24pm Jul 9, 2007 9:24pm
tdion and Craig, I`m not even sure that a profitable mechanical trading EA system exists does it?
Kind of like bigfoot or loch ness I thought?
I`m not trying to be smart here, just curious , do you know of one?
  • #28
  • Jul 9, 2007 9:47pm Jul 9, 2007 9:47pm
I know of several people that trade automated, I don't know the details of the systems however. I do know that they all take different approaches, and what I do is a blend of some of those ideas + other stuff. These people are not to keen on parting with detail, and that is understandable. Simple systems like MA crosses and so forth may work for a while but this is usually due to lucky market conditions more than anything. So in summary, yes they do exist, but you probably not going to find them on public forums.
The breaking of a wave cannot explain the whole sea.
  • #29
  • Jul 9, 2007 10:49pm Jul 9, 2007 10:49pm
Quote
Van Gogh could give someone his system for creating a great painting, no?

Trading is an art.

....I don't care how many pips you promise me......I'm not gonna cut off my ear!!!

Seriously.....

I would agree with Dial and would also suggest that the person starting this thread take a look at "TRADE YOUR WAY TO FINANCIAL FREEDOM" by Van Tharp. There is quite a bit about "system searching" that is of interest. Also a lot about how the "system" is not the most important component to successful trading.
  • #30
  • Jul 10, 2007 1:14am Jul 10, 2007 1:14am
I guess I`m just old school.
No mater how many people have a friend who have a program that makes money I won`t believe it till I see one myself.
I believe with the currency market there needs to be a person watching and exercising discretion.
To each his own,
good trading
  • #31
  • Jul 10, 2007 1:39am Jul 10, 2007 1:39am
Quoting blueruby
I know this is bad news, there is no system that can simply be learned and traded.
wrong, with a good money management and a win ratio of only 50% you can be a winner.

why should someone not be able to learn a system that works pure mechanical?

anything is possible!!!
  • #32
  • Jul 10, 2007 6:00am Jul 10, 2007 6:00am
Quoting Wallboroff
wrong, with a good money management and a win ratio of only 50% you can be a winner.

why should someone not be able to learn a system that works pure mechanical?

anything is possible!!!
You're right, I shouldn't have said "never". I usually don't do that, and flame anyone that does.

I can say, however, over on Forex TSD there are hundreds of people testing all sorts of EA's for years, compiling data month after month and programming their fingers off, all looking for one that works, and none do, consistently. Everyone wants to go to the beach and let the robot rack up the profits.... This universe just doesn't work that way.

And market conditions change frequently.

I've seen posts by TWO people who claim to make money with EA's, BOTH say they continually intervene (= trader discretion).
  • #33
  • Jul 10, 2007 7:32am Jul 10, 2007 7:32am
Which system that is mentioned on forex factory has produced the most profit?

I thank everyone for their comments
  • #34
  • Jul 10, 2007 7:51am Jul 10, 2007 7:51am
Quoting gio9
Which system that is mentioned on forex factory has produced the most profit?

I thank everyone for their comments
Your question cannot be answered.

It's the trader, not the system.

Got it?
  • #35
  • Jul 10, 2007 7:56am Jul 10, 2007 7:56am
Quoting blueruby
Your question cannot be answered.

It's the trader, not the system.

Got it?
I agree, a system is a tool. And as any tool, badly used it can causes havoc.
  • #36
  • Jul 10, 2007 8:27am Jul 10, 2007 8:27am
Quoting gio9
Which system that is mentioned on forex factory has produced the most profit?

I thank everyone for their comments
If you are looking for a system/combination of systems, study Mouteki and the Cornflower system. You will gain insight on how MAs are used and you will study and learn to apply trendlines. After you demo those for a while you may want to use them together or you may have gained enough knowledge to know what type of system fits you for the future.

If you do trade Mouteki and Cornflower, I would suggest filtering Mouteki breaks with MA or Cornflower crosses. Use the 4hr and 1hr charts. Good luck.

What everyone is saying, though off topic, is very true. Systems don't typically make the money ... I am still looking for one that does though, in my spare time of course.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #37
  • Jul 10, 2007 8:33am Jul 10, 2007 8:33am
Quoting Wallboroff
wrong, with a good money management and a win ratio of only 50% you can be a winner.
If you mean you can money manage a break even system into a winner, I disagree.

I think the myth that you can turn a non winning method into a winner through money management costs more people more money than anything else going around these boards.

I do agree with you that a mechanical method can make money, if its the right one.
  • #38
  • Jul 10, 2007 11:27am Jul 10, 2007 11:27am
Quoting billbss
If you mean you can money manage a break even system into a winner, I disagree.

I think the myth that you can turn a non winning method into a winner through money management costs more people more money than anything else going around these boards.

I do agree with you that a mechanical method can make money, if its the right one.
yeah thatīs right, you gotta have a good system that shows good entry signals. but even a lot of people trun a winning method into a losing system because of no proper money management.

well itīs the golden middle, you gotta have a promising system and skills for trading as well.
  • #39
  • Jan 31, 2008 1:25pm Jan 31, 2008 1:25pm
I have actually found a lot of success with a trader I bought over ebay... yeah I know pathetic right? There are a few (not many) EA's out there that work.
  • #40
  • Jan 31, 2008 3:41pm Jan 31, 2008 3:41pm
Quoting beachfrontfx
I have actually found a lot of success with a trader I bought over ebay... yeah I know pathetic right? There are a few (not many) EA's out there that work.
LOL, 99% of the EA's being sold on eBay are an absolute scam!
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