Using the Same System for a Year or Longer? | Forex Factory

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Using the Same System for a Year or Longer?

  • #1
  • First Post: Apr 20, 2007 9:35am Apr 20, 2007 9:35am
Hello Everyone:

Is there anyone out there that has been consistently using the same trading system for a year or more. If so, what has been your results?
What has been your challenges? Do you see yourself continuing with that system for a while?

Any feedback I would greatly appreciate it.

Thanks..

Marc
  • #2
  • Apr 20, 2007 5:15pm Apr 20, 2007 5:15pm
Now why would anyone do that!?


GRIN.

OK really, the only thing i've seen remain consistantly profitable and withstood the test of time is naked price action and trend line and S/R analysis. Systems come and go, but candles/bars remain.

: ) Thom
  • #3
  • Apr 20, 2007 6:31pm Apr 20, 2007 6:31pm
Come on and be honest!

Same system. No adding "filters". No changing TF's.

Is it really possible?

Newbies like me need to know what passes the acid test!


Thanks for the thread and your replies!


FXS
  • #4
  • Apr 21, 2007 3:37am Apr 21, 2007 3:37am
How about Heiken Ashi Smoothed? It seems like the kind of system that works on everything all the time, though the exit and entry rules would change depending on the kind of market I would think.
  • #5
  • Apr 21, 2007 4:39am Apr 21, 2007 4:39am
Price action .... yes price action, i'm agree with you accrete Oh once more, forgotten, fundamental analysis, this 2 things r the mother of all analysis....
  • #6
  • Apr 21, 2007 5:16am Apr 21, 2007 5:16am
Quoting accrete
Now why would anyone do that!?


GRIN.

OK really, the only thing i've seen remain consistantly profitable and withstood the test of time is naked price action and trend line and S/R analysis. Systems come and go, but candles/bars remain.

: ) Thom
I Second that.
  • #7
  • Apr 21, 2007 7:44am Apr 21, 2007 7:44am
Quoting marcf
Hello Everyone:

Is there anyone out there that has been consistently using the same trading system for a year or more. If so, what has been your results?
What has been your challenges? Do you see yourself continuing with that system for a while?

Any feedback I would greatly appreciate it.

Thanks..

Marc
Yes... Rainbow remains... LoL
  • #8
  • Apr 21, 2007 8:25am Apr 21, 2007 8:25am
Quoting linuxtroll
Yes... Rainbow remains... LoL
I do like the rainbow LT. . . and your use of it on the 5 second charts are very cool. I have the Guppy DVDs and enjoyed the study/insights he gave to the model/use of the MMAs.

. . . a tanget and look behind the scenes : )

I've come to a juncture in my trading career in that i realized (this came after reading/studying the content/philosophy behind the "Secret" book/dvd and the many similar books i've read over the years...) that my trading off the short term intraday charts was not reinforcing my ultimate goal of trading from our Recreational Vehicle while traveling. I am so drawn to the 15m timeframe i'll sit for hours watching the charts during the London session (my midnite Pacific Time to the NY morning session). . . BUT in reality this pattern of trading will do nothing to cultivate my long term goal of trading on the road. SO... I am turning over a new leaf as of this month (April 2007), that I am making an extreeeeeem effort to ONLY include in my trading model, those ideas based on longer term charts, such as the daily and beyond. With all the time spent with price action (Thanks James16 !!), and the many daily based models studied/discussed here at FF there is more than enough info to create abundant wealth.

Cheers,
Thom
  • #9
  • Apr 21, 2007 9:47am Apr 21, 2007 9:47am
When I first started trading the Forex, I seemed to be all over the place, trying every system I saw, thinking one was better than the next. In my opinion I think alot of systems can work, but you really need to focus on the system you choose and stick with it. I didn't have any consistency whatsoever. I was trading off of the 15 min chart then 30 min chart. But, what I came to realize trading above the 1 hour chart, well, the 4 hour chart for me, you can really make some serious pips. For me, it takes a lot of discipline and staying calm, because sometimes I don't have patience and I start to freak out, but I'm getting much better.
I've got a great system that I use, which was given to me from someone on this forum and I will be forever grateful for that.
With this business you never stop learning and for me it's important to stick with a system and learn it until its burned into your brain. Of course a system isn't 100% correct and far from it, but at least you have a kind of roadmap to follow.

I appreciate everyone's feedback.....
  • #10
  • Apr 21, 2007 11:46am Apr 21, 2007 11:46am
Quoting accrete
I do like the rainbow LT. . . and your use of it on the 5 second charts are very cool. I have the Guppy DVDs and enjoyed the study/insights he gave to the model/use of the MMAs.

. . . a tanget and look behind the scenes : )

I've come to a juncture in my trading career in that i realized (this came after reading/studying the content/philosophy behind the "Secret" book/dvd and the many similar books i've read over the years...) that my trading off the short term intraday charts was not reinforcing my ultimate goal of trading from our Recreational Vehicle while traveling. I am so drawn to the 15m timeframe i'll sit for hours watching the charts during the London session (my midnite Pacific Time to the NY morning session). . . BUT in reality this pattern of trading will do nothing to cultivate my long term goal of trading on the road. SO... I am turning over a new leaf as of this month (April 2007), that I am making an extreeeeeem effort to ONLY include in my trading model, those ideas based on longer term charts, such as the daily and beyond. With all the time spent with price action (Thanks James16 !!), and the many daily based models studied/discussed here at FF there is more than enough info to create abundant wealth.

Cheers,
Thom
Rainbow fits into any timeframe... Alan Hull's MMAs for weekly charts...
My active investment GBPUSD long is in 1143 pips now (no end signal yet)... LoL
  • #11
  • Apr 22, 2007 5:47am Apr 22, 2007 5:47am
Quoting accrete
OK really, the only thing i've seen remain consistantly profitable and withstood the test of time is naked price action and trend line and S/R analysis. Systems come and go, but candles/bars remain.
Oscilators, from my memory, wore introduce during the early '90. If they survived till now, they sure were profitable. I'm not a suporter of indicators, but sometimes I found that trading naked need the suport of an indicator (I use default stochastic).

How about moving averages crossover, I read about them from very old books and i still see them on ff and ofcourse all those indicators are based on them

Btw Candlestick were used in 1500 by the Japanese traders as Steve Nison recorded, so, candlestick are used by centuries, not by years
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #12
  • Apr 22, 2007 6:06am Apr 22, 2007 6:06am
hi...

I agree with the idea that the only method that will last over a year or more is basic bar/candle trading..using S/R and trendlines...
Most other indictors where designed to be used with shares and not currencies...there are not many indictors that can deal with the regular supply of data releases occuring in FX.
  • #13
  • Apr 22, 2007 6:54am Apr 22, 2007 6:54am
Quoting semar
Oscilators, from my memory, wore introduce during the early '90. If they survived till now, they sure were profitable. I'm not a suporter of indicators, but sometimes I found that trading naked need the suport of an indicator (I use default stochastic).
Oscilators are create to confirm market moves on the chard. i personaly use RSI 9
  • #14
  • Apr 22, 2007 9:02am Apr 22, 2007 9:02am
Quoting Angler
Most other indictors where designed to be used with shares and not currencies...
stocks, currencies, metals, softs or meats they all work thru supply and demand. Technically there aren't differences, they are only fundamentaly
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #15
  • Apr 22, 2007 10:12am Apr 22, 2007 10:12am
Quoting accrete
I do like the rainbow LT. . . and your use of it on the 5 second charts are very cool. I have the Guppy DVDs and enjoyed the study/insights he gave to the model/use of the MMAs.

. . . a tanget and look behind the scenes : )

I've come to a juncture in my trading career in that i realized (this came after reading/studying the content/philosophy behind the "Secret" book/dvd and the many similar books i've read over the years...) that my trading off the short term intraday charts was not reinforcing my ultimate goal of trading from our Recreational Vehicle while traveling. I am so drawn to the 15m timeframe i'll sit for hours watching the charts during the London session (my midnite Pacific Time to the NY morning session). . . BUT in reality this pattern of trading will do nothing to cultivate my long term goal of trading on the road. SO... I am turning over a new leaf as of this month (April 2007), that I am making an extreeeeeem effort to ONLY include in my trading model, those ideas based on longer term charts, such as the daily and beyond. With all the time spent with price action (Thanks James16 !!), and the many daily based models studied/discussed here at FF there is more than enough info to create abundant wealth.

Cheers,
Thom
Thom:

You might benefit greatly from trading the H4 charts, with a good indicator like HAS to support the price action. Quite a lot happens in a day, and daily charts can miss out on some very obvious moevements. That said, I ALWAYS look at the dailies to check the medium term trend. My 2 cents
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #16
  • May 1, 2007 7:16am May 1, 2007 7:16am
Quoting Plutonite
Thom:

You might benefit greatly from trading the H4 charts...
I think your advice is sound, and thx! I've actually taken a two week "vacation" from trading just to break the mental/physical ties i had to the shorter term chart trading. I've been primarily observing the 4hr and daily charts since mid April, and today, May 1st, marks the first day of trading off 4hr and up charts on a regular basis rather than the STF charts...or that's the plan anyway!

: ) Thom
  • #17
  • May 1, 2007 7:22am May 1, 2007 7:22am
For the original poster, I have used the same "system" for many years. No tweaks, no changes. The "system" does not make the trader, the trader makes(or breaks) the "system."
  • #18
  • Last Post: May 1, 2007 7:52am May 1, 2007 7:52am
Quoting semar
Oscilators, from my memory, wore introduce during the early '90. If they survived till now, they sure were profitable. I'm not a suporter of indicators, but sometimes I found that trading naked need the suport of an indicator (I use default stochastic).

How about moving averages crossover, I read about them from very old books and i still see them on ff and ofcourse all those indicators are based on them

Btw Candlestick were used in 1500 by the Japanese traders as Steve Nison recorded, so, candlestick are used by centuries, not by years
Nothing really wrong with using indicators. The problem is that people become fixated on the indicator. When price crosses this line jump in. Unfortunately sometimes the line is just 5 pips away from strong support or resistance. You have to watch the whole chart not just the action of the indicator. Most newbies scanning these forums are looking for the magic indicator that is always right. There isn't one.
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