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Stop fooling yourself; There is no system

  • #41
  • Nov 30, 2008 2:15pm Nov 30, 2008 2:15pm
Vlad

did you blow your $300 account using lotsize=3.0 ?????
  • #42
  • Nov 30, 2008 2:20pm Nov 30, 2008 2:20pm
YES, i beat the math 6 out of 10 times. Thats all i need todo. Forex is not roulette or a fruit machine. i.e. its not fixed against you winning.

I worked for barclays dealing desk in London for 7 years before going alone at trading.

if what you say is correct then all employed currency traders would be sacked.
  • #43
  • Nov 30, 2008 2:32pm Nov 30, 2008 2:32pm
Quoting Vlad
I am glad that at least somebody found the way to beat the Math, I really am. With such astonishing results, you will accumulate enough money to throw all forum members a party on Tahiti with Angilina Jolie riding every single one of us. Just as a token of apreciation, common , it will be only a small token within a few months of such magnificent trading.

Okay 2 things here:

I) I don't care how good or bad you trade, I like the way you think.
Win or lose, forex or whatever, let's go back to the Angelina Jolie doing everybody idea.
If we could all just put our differences aside for a moment and agree in principal that
Angelina riding everyone of us is a good idea, then we might gain some common ground.

2) Give the guy a break. Up 18% YOY sure ain't the worst I've seen lately.
Also A. J.'s tits are up about 18% since last year too. Not a bad return.
Attached Image
  • #44
  • Nov 30, 2008 2:36pm Nov 30, 2008 2:36pm
Place the attached indicator on USD/JPY 1H chart. When the indicator says WEAK BUY all xxxJPY pairs. When the indicator says STRONG SELL all xxxJPY pairs.

- When the total orders profit is greater than your TP, close all orders.
- When the total orders profit is less than your SL, close all orders.

Trial this on a demo account for a week. Then come back to me and say you cant make money from forex/currency trading.

lotsize on all BUY's and SELL's should be equal and no more than 3% of your balance.

PS. Dont trade when there are news alerts affecting JPY.
Attached File(s)
File Type: ex4 RS_GROUP_JPY V1.0.ex4   5 KB | 770 downloads
  • #45
  • Nov 30, 2008 2:48pm Nov 30, 2008 2:48pm
so, what the problem?
10% a month - double in 10;
from $2k in about 5years you coming to 100k and counting(doubling) ... : )))
(kindamartingale)

problem is - where all the money goes? : (((((
  • #46
  • Nov 30, 2008 2:48pm Nov 30, 2008 2:48pm
ok....I never publised this, but here it is!
put it in expert~scripts folder.
It will help you to relax.
Attached File(s)
File Type: mq4 3d.mq4   3 KB | 641 downloads
forexflash
  • #47
  • Edited 3:06pm Nov 30, 2008 3:00pm | Edited 3:06pm
Interesting well if there is no system then this is of no use to you then lol
attached is a Random entry EA with a 50 tp and 50 sl and double up on loss.

It's not my idea all i did was a copy and paste job from two different EA but I liked the idea.

Feel free to improve or throw away.

Attached for what they are worth is a back test.

Cheers

Kiwi
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 9 KB
Attached File(s)
File Type: mq4 Random Magic EA.mq4   5 KB | 527 downloads
  • #48
  • Nov 30, 2008 3:02pm Nov 30, 2008 3:02pm
Quoting fxxx
so, what the problem?
10% a month - double in 10;
from $2k in about 5years you coming to 100k and counting(doubling) ... : )))
(kindamartingale)

problem is - where all the money goes? : (((((
... some day i should take closer look how my wife blew all this (my) money!!!.. : (((((((
  • #49
  • Nov 30, 2008 3:05pm Nov 30, 2008 3:05pm
Quoting mt41969
Place the attached indicator on USD/JPY 1H chart. When the indicator says WEAK BUY all xxxJPY pairs. When the indicator says STRONG SELL all xxxJPY pairs.

- When the total orders profit is greater than your TP, close all orders.
- When the total orders profit is less than your SL, close all orders.

Trial this on a demo account for a week. Then come back to me and say you cant make money from forex/currency trading.

lotsize on all BUY's and SELL's should be equal and no more than 3% of your balance.

PS. Dont trade when there are news alerts...
Will this work on IBFX mini accounts?
  • #50
  • Nov 30, 2008 3:07pm Nov 30, 2008 3:07pm
Quoting parisienne
I disagree. I disagree that there is no system, but not completely.

No system can be effective for ever, but combination of systems that fill out the gaps in each other, are the only way of a successful trading.

Yes, I know, many of you will not believe me and I also have no need to convince you - because I know what I am talking about.

I can proudly state that in the year 2008 I have not lost a single trade. This was not the case when I started out. I blew out two 10k accounts in one year and now I have difficulty in spending my money.

What made the difference for you to trade successfully?
  • #51
  • Nov 30, 2008 3:08pm Nov 30, 2008 3:08pm
Rick,

Yes it should work with all brokers.

Here are the other currency basket indicators.
Attached File(s)
File Type: ex4 RS_GROUP_AUD V1.0.ex4   5 KB | 465 downloads
File Type: ex4 RS_GROUP_CAD V1.0.ex4   5 KB | 411 downloads
File Type: ex4 RS_GROUP_CHF V1.0.ex4   5 KB | 408 downloads
File Type: ex4 RS_GROUP_EUR V1.0.ex4   5 KB | 530 downloads
File Type: ex4 RS_GROUP_GBP V1.0.ex4   5 KB | 475 downloads
File Type: ex4 RS_GROUP_NZD V1.0.ex4   5 KB | 416 downloads
File Type: ex4 RS_GROUP_USD V1.0.ex4   5 KB | 470 downloads
  • #52
  • Nov 30, 2008 3:20pm Nov 30, 2008 3:20pm
Quote:
Originally Posted by parisienne http://www.forexfactory.com/images/buttons/viewpost.gif
I disagree. I disagree that there is no system, but not completely.

No system can be effective for ever, but combination of systems that fill out the gaps in each other, are the only way of a successful trading.

Yes, I know, many of you will not believe me and I also have no need to convince you - because I know what I am talking about.

I can proudly state that in the year 2008 I have not lost a single trade. This was not the case when I started out. I blew out two 10k accounts in one year and now I have difficulty in spending my money.

Quoting KudzuFX
What made the difference for you to trade successfully?
i know it's possible thought it's not the goal
but how did you do it?
  • #53
  • Edited 4:10pm Nov 30, 2008 3:57pm | Edited 4:10pm
Quoting parisienne
I can proudly state that in the year 2008 I have not lost a single trade. This was not the case when I started out. I blew out two 10k accounts in one year and now I have difficulty in spending my money.
How many trades have you had 5?

Thant is a big statment I kinda want to see proof to back up a year with out a single loss. unless you made a couple of trades.

Cheers
  • #54
  • Nov 30, 2008 4:18pm Nov 30, 2008 4:18pm
If you want to use the xxx/JPY basket trading I suggest you read the entire thread at http://www.forexfactory.com/showthread.php?t=123284

Eddie
  • #55
  • Nov 30, 2008 5:12pm Nov 30, 2008 5:12pm
Quoting FOREXflash
ok....I never publised this, but here it is!
put it in expert~scripts folder.
It will help you to relax.
Don't tell me you actually put this graphic on your charts? I would be so distracted and don't for get dizzy I would push the wrong button,lol.
  • #56
  • Nov 30, 2008 5:31pm Nov 30, 2008 5:31pm
Quoting Vlad
And there is no one who knows how to trade. If there was, W. Buffet would be his butler and Bill Gates his foot chair. 5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years. Unless you are a fat rat from a Federal reserve with insider's info, trading is glorified gambling no more and no less. Only ones who win are those who are lucky and quit early. Sorry.
I think you're on about step 2, from the mouth of soultrader:

http://www.forexfactory.com/showpost...20&postcount=1

Link to article:

http://www.zen18752.zen.co.uk/html/forex_trading.html

Get yourself a simple MA cross EA (10 and 20 periods will do fine). Put it on a daily chart and backtest for the past 5-10 years.

Completely mechanical, no stops, short on cross down, exit and re-enter long on the cross up.

You may be pleasantly surprised that it IS actually profitable.
  • #57
  • Nov 30, 2008 5:34pm Nov 30, 2008 5:34pm
Quoting wiztrader
Facts.

...

Trading is just a job you do. It's not glamorous, not pretty.

Trading for a living is just that, trying to make a livng. It's not fancy, not entretaining.

Trading gets you into a lot of frustration and deception, yet you need to carry on. If you can't take the heat, then you're lucky. We're in christmas time and a lot of mega-stores are hiring.

Posting here at FF it's a lot more entretaining than trading.
I don't think anybody should take trading as a job. There are better jobs if one is losing. If one is winning, then it's a business.

And as soon as a business becomes a loss, that is when you have lost your investment, you go back and take a job.

If you are not ready to trade the market - leave the market!
  • #58
  • Nov 30, 2008 5:41pm Nov 30, 2008 5:41pm
Maybe you should tell this guy there are no working systems.

Infinite yield forex challenge.


.
Same Whore .... Different Dress
  • #59
  • Nov 30, 2008 5:43pm Nov 30, 2008 5:43pm
I somewhat agree, trading forex is like gambling.
if you are winning now, it's just like being on a winning streak at vegas. keep on going, a few hours later you will lose it all. A few months from now or a few years from now you will lose at forex. the house always wins.
  • #60
  • Nov 30, 2008 6:01pm Nov 30, 2008 6:01pm
it seems you have missed the point.
we don't care how many pips you made this week, IT'S NOT ABOUT PIPS!
it's about ROI.
what % of your account did you make this week? oh wait, maybe it was just a lucky week, i don't care what you made this week, or this month for that matter.

tell me how long have you been trading forex live? and what % return do you make on average per month?



Quoting mt41969
Vlad,

Yes there are systems and strategies that work. I make over 1000 pips per week using basket trading 24/5.

Ofcourse you will not profit from every trade, thats virtually impossible. But if you have correct money management/lotsize and win 6 out of 10 trades then you WILL be in profit.

I suggest you go back and do your homework. Its like everything in life, if you put the work in then you will get the benefits back.

Yes, forex trading is just a posh word for gambling BUT there are allot of things you can do to make it profitable overall...
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