Great thread. Allow me to add some food for thought...
The problem with using a system that works...people will turn to believe into it...but it only works for so long.
Markets keep changing and new systems will continue to emerge...until we realise that systems is derived from one thing only...price, infact thats what really matters. Forget looking for a winning system, coz when you have one, you will want to tweak it more and more to make it better, to give it the edge and to increase the percentage of winning trade. You start with MAs, then proly oscillators to look for oversold regions all that put together gives u 'signals'. It might work today, it might work tomm, it might work for the next two years with you being profitable but not understanding anything from Mr Market, then Mr Market changes, he grows old and frail, stops moving to far away places, and you're left wondering.
I'm not saying that systems and indicators are bad, i still use them as my forecasting tools but to rely on them as signalling bands, will not be very helpful for the trader.
My own two cents...I had a 'system', it was raking pips much like the OCC created by twoblink running on the 4hours. I wanted to make it better, tweaked it here and there, add indicators, improve MM plan add nastier rules etc etc, it suddenly has less whipsaws trade potential becomes better but backtest shows my winning pips were declining. So what system are you looking for? A loser system that rakes pips, or a winning system that gives you small overcooked pips?
This should be an enjoyable read for you:
http://www.forexfactory.com/forexfor...ead.php?t=5880
The problem with using a system that works...people will turn to believe into it...but it only works for so long.
Markets keep changing and new systems will continue to emerge...until we realise that systems is derived from one thing only...price, infact thats what really matters. Forget looking for a winning system, coz when you have one, you will want to tweak it more and more to make it better, to give it the edge and to increase the percentage of winning trade. You start with MAs, then proly oscillators to look for oversold regions all that put together gives u 'signals'. It might work today, it might work tomm, it might work for the next two years with you being profitable but not understanding anything from Mr Market, then Mr Market changes, he grows old and frail, stops moving to far away places, and you're left wondering.
I'm not saying that systems and indicators are bad, i still use them as my forecasting tools but to rely on them as signalling bands, will not be very helpful for the trader.
My own two cents...I had a 'system', it was raking pips much like the OCC created by twoblink running on the 4hours. I wanted to make it better, tweaked it here and there, add indicators, improve MM plan add nastier rules etc etc, it suddenly has less whipsaws trade potential becomes better but backtest shows my winning pips were declining. So what system are you looking for? A loser system that rakes pips, or a winning system that gives you small overcooked pips?
This should be an enjoyable read for you:
http://www.forexfactory.com/forexfor...ead.php?t=5880
