the worst indicator and system that you used before!! | Forex Factory

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the worst indicator and system that you used before!!

  • #1
  • First Post: May 31, 2009 7:21am May 31, 2009 7:21am
hi all,

as the title of this thread suggests. i would like everyone to share here. that the worst indicator or system that you used or tried. which cause you to lose money demo or live.

the best is those that if you took the signals of the indicator or system. you will definitely lose money. especially those that would cause you to blow an account within hours.

ideas that would cause you to lose money are also welcome. but they must be ideas or concepts that would really make you lose money!! they must not stand a chance of even making you money.

explanations of why the indicators or system would make you lose money would be good. thanks all
  • #2
  • May 31, 2009 7:58am May 31, 2009 7:58am
Quoting winningfx
hi all,

as the title of this thread suggests. i would like everyone to share here. that the worst indicator or system that you used or tried. which cause you to lose money demo or live.

the best is those that if you took the signals of the indicator or system. you will definitely lose money. especially those that would cause you to blow an account within hours.

ideas that would cause you to lose money are also welcome. but they must be ideas or concepts that would really make you lose money!! they must not stand a chance of even making you...
So you can do the opposite, right

I think you'll find the idea has been tried before and it didn't work then either because it's not the system or indicator which makes/loses money, it's the trader himself.

A controlled study was done at some university or other where they took a selection of students and gave them all the exact same strategy. Only a very small percentage actually made any money. If those losing students were here on this thread they would probably reply to your question and say they had the worst system and indicator, of course the winning minority wouldn't agree obviously.

Anyway, by using words like "definitely" and "they must not stand a chance" is unrealistic, even the worst system/trader in the universe has a chance of making money. It's all down to probability not certainty, and fundamentally that is where 95% of 'traders' go wrong in my opinion, they don't understand the very basic concepts of trading.
  • #3
  • May 31, 2009 8:53am May 31, 2009 8:53am
Quoting pipmutt
So you can do the opposite, right

I think you'll find the idea has been tried before and it didn't work then either because it's not the system or indicator which makes/loses money, it's the trader himself.

A controlled study was done at some university or other where they took a selection of students and gave them all the exact same strategy. Only a very small percentage actually made any money. If those losing students were here on this thread they would probably reply to your question and say they had the worst system and indicator, of...

hi pipmutt,

no, i was not thinking of doing the opposite. my purpose of starting this thread is because...

i would just like to hear from other traders.their views on why the systems and indicators that they tested did not work!! that's all. by using "definitely" and " don't stand a chance". i use this word and phrase, so that traders would go through their mind. think about the indi or system that left them a deep impression that equals to failure or sh%t.

if i ask you to name a person that you "don't like" or "hate", i'll get 2 names. so i used the above word and phrase. so that traders would list the indi and system that would kill their acct.

yes, i know. to succeed in forex. we gotta treat forex as a business. to naked traders, trade only pa. fundies, only fundamental and news. ta for technical people. the concept of high probability in trading. patience and use what works for you. r/r ratio, percentage. 70% win system etc. trade with an ecn and avoid the mm bucketshops. don't scalp and trade short-term, only trade daily.

just wanna read the experience of traders and what they think. so that maybe me and some future traders. would save our time with some indis and systems. base on other traders inputs and experiences.

thanks for your refreshing input by the way.
  • #4
  • May 31, 2009 9:19am May 31, 2009 9:19am
All indicators work it is the individual application and interpretation of the person using it.
Many times we would say they are wrong but if it works with their methodology then it is good for them but the mental idea seems warped by others so be it it works for them
  • #5
  • May 31, 2009 9:48am May 31, 2009 9:48am
Moving averages
Fibs
Volume

Any combination. Oh, and hedging the same pair.




Ignorance, is blatantly, bliss.
  • #6
  • May 31, 2009 10:02am May 31, 2009 10:02am
True hedging same pair is to bet against yourself and is a long hard road.
Just acknowledge you are wrong and limit your loss.
  • #7
  • May 31, 2009 10:05am May 31, 2009 10:05am
this ma crosses that ma...bingo!!!!! holy grail.
lmao
  • #8
  • May 31, 2009 10:13am May 31, 2009 10:13am
MA may cross now but it may be short term do not try for holy grail huge profits
take and get out no hoping and praying. otherwise gamble.
  • #9
  • May 31, 2009 10:14am May 31, 2009 10:14am
breakouts, i definetly lost the most with breakouts

i believe ma cross is bad too, because youre late, but u can use ma's for other things like pullbacks and overall trend, i like the 200

but the worst system is your emotions
Invincibility lies in the defence, the possibility of victory in the attack
  • #10
  • May 31, 2009 10:15am May 31, 2009 10:15am
Quoting winningfx
trade with an ecn and avoid the mm bucketshops. don't scalp and trade short-term, only trade daily.
Perfect example, I personally know a trader who scalps off a tick chart with a bucketshop and has done for years!

I bet for every person who says a strategy, indicator, or trading style doesn't work there will be someone somewhere who is making it work for them!

You should get an interesting list though, it'll be great to see what people have tried
  • #11
  • May 31, 2009 10:18am May 31, 2009 10:18am
Open Positon -> Close Position -> Pay Spread

Now repeat untill Account reaches 0.

Bad enough?
  • #12
  • May 31, 2009 10:20am May 31, 2009 10:20am
Quoting Tjpld
Open Positon -> Close Position -> Pay Spread

Now repeat untill Account reaches 0.

Bad enough?

lol, now that would do it
  • #13
  • May 31, 2009 10:22am May 31, 2009 10:22am
We must remember indicators are lagging after the fact so watch main trends and play the pull back and enter with trend and if proven wrong get out and wait for next opportunity preserve your resources.
  • #14
  • May 31, 2009 5:56pm May 31, 2009 5:56pm
Quoting cheagil
this ma crosses that ma...bingo!!!!! holy grail.
lmao
a trend pivot indi, arrow only, that repaints to do so
  • #15
  • May 31, 2009 7:19pm May 31, 2009 7:19pm
Any autotrading robot out there will nicely empty your account, infact go for the ones which are really hyped up to the eye balls with real slick sites, they are the best ones. Its amazing how "For A Prank Turbo" will fill your account in a day.

Surely someone's missing a trick here, they need to produce a really crappy amature site - maybe those might make you money?

Also, you can't go far wrong joining a live room and have them sell you their snazzy indicators for $4k, you must ensure that the more indicators they have the better, the more complex the sceen the better it will be, also the more you pay for it the better as it is almost certainly going to make you more money.
June 09, account growth so far this month 27%
  • #16
  • May 31, 2009 8:09pm May 31, 2009 8:09pm
Hi

My 2¢ opinion... the multiple MAs like GMMA is useful to trade.

Also, combination of RR, MM and emotion control should be the key factors in any trading method.

fxpip8
Attached Image (click to enlarge)
Click to Enlarge Name: 13ma 1stoch.gif Size: 24 KB
  • #17
  • May 31, 2009 8:20pm May 31, 2009 8:20pm
Raghee Horner's stuff. Ugh.
  • #18
  • Jun 5, 2009 10:39pm Jun 5, 2009 10:39pm
a black cat crossed my path when i went out to get something. came home and started this thread. posted 2 posts and my pc crashed. this reminds me about a backup plan, pc wise.

do u have a plan when your pc crashed, isp problems or broker server problems?? especially when you're trading live?? i know i'll have 1
  • #19
  • Jun 5, 2009 11:02pm Jun 5, 2009 11:02pm
Quoting winningfx
hi all,

as the title of this thread suggests. i would like everyone to share here. that the worst indicator or system that you used or tried. which cause you to lose money demo or live.

the best is those that if you took the signals of the indicator or system. you will definitely lose money. especially those that would cause you to blow an account within hours.

ideas that would cause you to lose money are also welcome. but they must be ideas or concepts that would really make you lose money!! they must not stand a chance of even making you...
WOW! Why didn't anyone else think of this?
Give me your Absolute Worst Systems/Methods & I will become rich Trading against you... nada nada nada...

Consider yourself as having taken the First Step on a Journey of a Thousand.

{2 forward, 1 back beats the alternative}
  • #20
  • Jun 5, 2009 11:51pm Jun 5, 2009 11:51pm
Quoting Tjpld
Open Positon -> Close Position -> Pay Spread

Now repeat untill Account reaches 0.

Bad enough?
Yes and if you're in a hurry, do it on the weekend with something like AUD/NZD (higher spread).
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