DislikedHi Sonic,
I'm also an avid follower of your thread. I invested many hours studying the Kantor system, and the number ONE concern for me was the drawdowns. I was caught in the GBP/JPY meltdown, and learned a very hard lesson there. That lesson is that, no matter what indicators or fibs or fundamentals you may use, there is no way you can predict just how high a pair may rise or fall. Just when you think there's a top or bottom, a new top or bottom comes. After you swear that's it...that it can't go up or down any further, it does. That's how accounts are wiped. This one had a 1400 PIP drawdown just last month. What if there were a few wins, and then another drawdown of 2400 PIPS? How many here can withstand that unless you're doing micro lots. And, if you're doing micro lots, you don't really gain much when you make those 1000 pip gains. I don't know how to make indicators or anything. But, i know from experience that the number one thing you must do in forex is to not get wiped out by not using stop losses. With all due respect to Brian, the inventor of the Kantor system, not using stops is a recipe for disaster. Another recipe for disaster is using a system that has bad money management where you're going for 150 and risking 200. Yes, you're gonna have those months where you do just great. The months to plan for are the ones where you lose 2000 pips or even more. A win percentage of over 70%, and you lose money? Give me a break. Even someone with zero experience in forex can see there's something wrong with that picture.Ignored
-1400 pips can make me out of the forex business....
Recently, I posted nice pdf document regarding about trading mentality in my journal..go read it if u have time buddy...
sonic