Do you still believe in the perfect trading system? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Not So Perfect but Perfect System 13 replies

The perfect trading system 1,207 replies

After years in trading, do you still believe in get-rich-fast BS? 98 replies

Do you believe in nest trading words... 0 replies

The perfect trading system 3 replies

Attachments: Do you still believe in the perfect trading system?
Exit Attachments

Do you still believe in the perfect trading system?

  • Poll

  • Do you still belive in the Holy Grail?
  •  
  •  
  •  
  • #1
  • First Post: Jun 13, 2009 3:55pm Jun 13, 2009 3:55pm
Hi all, after many years of trading, a question come to me, and it make me very curious about what other people think.

Well, the question is, do you still belive in the holy grail?

Be sincere, tnx
  • #2
  • Jun 13, 2009 4:10pm Jun 13, 2009 4:10pm
Quoting tunera
Hi all, after many years of trading, a question come to me, and it make me very curious about what other people think.

Well, the question is, do you still belive in the holy grail?

Be sincere, tnx
Yes

But had taken many hours to have arrived there.
  • #3
  • Jun 13, 2009 4:12pm Jun 13, 2009 4:12pm
Many hours? thousands of hours.. !!
  • #4
  • Jun 13, 2009 4:49pm Jun 13, 2009 4:49pm
I never believed in the Holy Grail. People have to be very delusional to believe that they could make millions in forex without work (i mean, where would the money come from? do they think that they're trading against chimps?).


The only Holy Grail that i know of is ourselves, but i suppose that is not the sense that you meant with your poll so i'm voting "no".
freedom
  • #5
  • Jun 13, 2009 4:56pm Jun 13, 2009 4:56pm
Quoting equilibrium6
I never believed in the Holy Grail. People have to be very delusional to believe that they could make millions in forex without work (i mean, where would the money come from? do they think that they're trading against chimps?).


The only Holy Grail that i know of is ourselves, but i suppose that is not the sense that you meant with your poll so i'm voting "no".
Oh no excuseme, i don't mean "holy grail" as an indicator or a strategy that make you milionaire without work, infact holy-grail is maybe a wrong term to use, mm let's see how to define what i mean..

I mean, the holy grail, as a "trading-style", of course it come with a big work and some long experience, but what i really mean with "holy grail" is a strategy (surely an extreme complex one) that let the trader use the market as an ATM machine.

Of course it require hard work and experience, but that was obvious
  • #6
  • Jun 13, 2009 5:28pm Jun 13, 2009 5:28pm
absolutely there is a holy grail; more than one in fact. most people don't have the fortitude to realize that most systems will pay out if they follow the rules. but as mentioned above me..."holy grails" are not found in cutting corners or easy to realize. they require work. anyone who thinks that there is a magic system that can be used that requires little to no work are the ones who regularly add equity to my account.

to those looking to get rich from trading with no work...ha

that's just a ridiculous sentence.
  • #7
  • Jun 13, 2009 7:20pm Jun 13, 2009 7:20pm
The Holy Grail is discipline and trading S/R breaks with MM. It takes (for me at least) many years to come to the realization. The Holy Grail is an "understanding" of how the market moves. Also, trading about half as small as you think you should is crucial. You should never feel nervous when entering a trade. If you feel the slightest anticipation, then you are trading twice too big. But yes, there is a Holy Grail. And no, its not a magical system or indicator. It is simple understanding and disciplined implementation.
There's always money in the banana stand.
  • #8
  • Jun 13, 2009 7:28pm Jun 13, 2009 7:28pm
Quoting LizardGizzard
The Holy Grail is discipline and trading S/R breaks with MM. It takes (for me at least) many years to come to the realization. The Holy Grail is an "understanding" of how the market moves. Also, trading about half as small as you think you should is crucial. You should never feel nervous when entering a trade. If you feel the slightest anticipation, then you are trading twice too big. But yes, there is a Holy Grail. And no, its not a magical system or indicator. It is simple understanding and disciplined implementation.
You have found it.

I totally agree with you

Nice job
  • #9
  • Jun 13, 2009 7:56pm Jun 13, 2009 7:56pm
I agree with BlueAce, there are most likely many holy grails out there. I recently found mine after searching and putting in hard work for what seems like a little over a year now. Even though my holy grail makes losing trades occasionally, I still have faith in it...just because a system isn't 100% successful doesn't mean that it's unreliable (oops, double negative there).
  • #10
  • Jun 14, 2009 1:45am Jun 14, 2009 1:45am
Quoting tunera
Oh no excuseme, i don't mean "holy grail" as an indicator or a strategy that make you milionaire without work, infact holy-grail is maybe a wrong term to use, mm let's see how to define what i mean..

I mean, the holy grail, as a "trading-style", of course it come with a big work and some long experience, but what i really mean with "holy grail" is a strategy (surely an extreme complex one) that let the trader use the market as an ATM machine.

Of course it require hard work and experience, but that was obvious
Then yea of course there is. Otherwise there would be no profitable forex trader. The answer is also obvious, in this case. But what's interesting is that most "holy grails", if traded by a less experienced trader, will yield poorer results.
freedom
  • #11
  • Jun 14, 2009 2:01am Jun 14, 2009 2:01am
There is no "Holy Grail" what there is, are systems that will make profit 60-70% of the time and lose 30-40 % of the time.

And as others have said, S&R combined with money management is what those systems are about. It took me a full year to realize this after changing endless indicators that failed me, Blah, this one doesn't work, get another one, only to realize that the indicators were fine, I was the problem.
As they say "A poor craftsman blames his tools".

It was me that was broken and now I use only S&R with maybe fibos.
Starting to see instead of just looking.
  • #12
  • Jun 14, 2009 2:07am Jun 14, 2009 2:07am
For me the "holy grail" came after getting in contact with FxStreet.com's live trading contest winner of 2007. His kind of trading style was so completely different - it was just amazing.

Nowadays I'm one of the rare fundamental traders out there and it works very well. Trading isn't that difficult, the market can either go up, down or sideways. That's all. Combined with low leverage and a directional bias it's all you need.
  • #13
  • Jun 14, 2009 4:58am Jun 14, 2009 4:58am
Quoting Xaron
For me the "holy grail" came after getting in contact with FxStreet.com's live trading contest winner of 2007. His kind of trading style was so completely different - it was just amazing.

Nowadays I'm one of the rare fundamental traders out there and it works very well. Trading isn't that difficult, the market can either go up, down or sideways. That's all. Combined with low leverage and a directional bias it's all you need.
The market never ever goes sideways, it goes up, down a little then a lot, and occasionally sits in one place for a while, it is impossible for the market to go sideways as it is only a two dimensional beast.
Starting to see instead of just looking.
  • #14
  • Jun 14, 2009 5:08am Jun 14, 2009 5:08am
Quoting Rastaman
The market never ever goes sideways, it goes up, down a little then a lot, and occasionally sits in one place for a while, it is impossible for the market to go sideways as it is only a two dimensional beast.
I think your charts are missing the time axis.
  • #15
  • Jun 14, 2009 5:23am Jun 14, 2009 5:23am
My vote goes for the "yes". It takes many years of practise but at the end it is possible to make consistent money. Discipline is the key (not talking about the methodology and MM).
  • #16
  • Jun 14, 2009 5:28am Jun 14, 2009 5:28am
nothing is impossible they say and my vote goes for a yes. I think it takes years and the person's experience to make the best strategy and win every trade.
  • #17
  • Jun 14, 2009 5:42am Jun 14, 2009 5:42am
Quoting TrooperCoope
I think your charts are missing the time axis.
Well perhaps you should enlighten us all with a few charts showing us price going sideways.
Starting to see instead of just looking.
  • #18
  • Jun 14, 2009 5:48am Jun 14, 2009 5:48am
This discussion makes me think of a saying I like..I think it was thomas jefforson who said it..

"I like that thing called luck, and I find that the harder I work the more I have of it."

Trading is simply a business that a person can profit from if they know what they are doing. This involves as others have said, an understanding of how the market works/moves, and an even better understanding of risk/reward. There are many simple things that the market continues to do over and over again. One of the best bits of advice I ever received in regards to trading, was to sit down in from of a simple bar chart, no indicators allowed, and jot down on a note pad all the things I noticed about price movement. It works even better if you can print out a few charts and then sit down with a pencil and ruler and play around. If a person can clear there mind of the indicators nonsense, and the thought that they are going to get rich quick, the holy grail will be just around the corner for them.

Regards,

Scotty B
  • #19
  • Jun 14, 2009 5:51am Jun 14, 2009 5:51am
Quoting bksujal
nothing is impossible they say and my vote goes for a yes. I think it takes years and the person's experience to make the best strategy and win every trade.
That thought alone keeps some people from ever really trading. If you'd spend just one day dedicated to taking the time to understand some simple statistics and money managment, you'd come to realize that the most successful traders lose more trades then they win. Go figure .
  • #20
  • Jun 14, 2009 5:56am Jun 14, 2009 5:56am
I have made full time research for more than 3 years.
Finaly I got it, simple and easy. I combined some indicators that I got from free forum like forex factory.Modified them to get better result by using multi TF. Now I can easily determine daily high low with H1, H4 TF Charts by using MA and SF indicators. I can know short term and long term trend by using MA. Entry and exit Using RSI.Trading never been so easy like now. This is my life. It is worthy to hold on my dream about holy grail. When you know where you are heading for,your will never worries about the futures anymore. Now I trade with confidence. Thanks God
0 traders viewing now