After having optimized the system described at http://forexfactory.com/showthread.php?t=74793 I have now decided to make a journal. This time I will use what I consider as good money management. I have said that I don't like indicators but I have now found one indicator which I think is very good to use with the system described in the other thread.
If slaughterhouses had glass walls, everyone would be a vegetarian!
That I am not going to reveal at the moment. I am afraid that the system will stop working if too many knows about it.
Ignored
I am a bit confused. Your system is based on price action which is a solid way to trade. I fail to see how adding an indicator will cause the system not to work if a large number of people know about it.
...This time I will use what I consider as good money management. I have said that I don't like indicators but I have now found one indicator which I think is very good to use with the system described in the other thread.
Ignored
There are some sound money management rules in this article from Technical Analysis of Stocks & Commodities magazine:
"Even the best trading systems will only be right about 60% of the time. So for every 10 trades, you will lose an average of four times. Even trading systems or certain trading setups with higher rates of return nearing 80% usually fall back to a more realistic 60% return when actually traded. This is because the rates of return of most systems tend to regress to the mean.
If you're losing 40% of the time, you need to control risk..."
Yesterday evening I bought I closed the USD/CHF position for a loss of 100 pips. I also bought EUR/CAD for about 1 percent of my account balance and sold USD/CHF for a little more than 1 percent of my account balance.
Total -81 pips
If slaughterhouses had glass walls, everyone would be a vegetarian!
I have just bought GBP/USD, EUR/USD, USD/CAD and I have sold AUD/JPY. All trades are for a little less than 1 percent of my account balance so I have opened positions for a total of a little less than 4 percent.
If slaughterhouses had glass walls, everyone would be a vegetarian!
That I am not going to reveal at the moment. I am afraid that the system will stop working if too many knows about it.
Ignored
With all respect to you but that made me laugh out loud.
1. Out of the 2 Trillion a Day FF Members probably make up 0.0001% of the Volume.
2. It would be the the other way around.
Ever wondered why pivots work? Because people use them and most important the big money uses them.
