I have followed the thread and have enjoyed the coverage pretty much as a whole. I am surprised that with one week of losses there seems to be a shock and “what do we do now” sound to it. Truth is a 99% win system will still have losses. I have back tested the system over two years and there is a couple of times when two or three losses come in a row. Any market will trend and run sideways, have you considered some way to see that it is possible that this is going to happen. I run with a 100 EMA on my 4 hour charts when the market on the 4 hour charts is about to stall it is because it gets hung up on the 100 EMA. I put a 100 + & - level on the ma and watch carefully when the price gets in this zone. There are simple ways to know how and what the market is doing or about to do, this is just one I use. It just takes a little thought and experience trading.
It also is wise to be trading 2 different systems at one time so if one has losses the other can cover the loss and even put you in profit. Don’t throw up your hands and panic, think of what options you have. If you’re going to make money or trade for more than a few months until your account is broke then read, listen, and for God sakes think of your options, there are many ways to keep an eye on market conditions.
If you have back tested the market you would have seen a stop loss and take profit and know what to expect for losses and wining trades and at least a good idea what the profit exspectations are realistic. Then you would not panic over losing a couple hundred pips. Sounds like you are just following others blindly and that is not what any business man or woman would do. If this is or is going to be your business then do your homework and you will be a success. If this is just for fun then don’t fuss enjoy your ride as you give your money away.
I hope this doesn’t sound critical but show you there are options and not give up or question a system the first time you have some losses and go running for the next that will also have some losses.
Thanks Ace and to those others that have put together the system and for the others with ideas for making it more profitable. I appreciate the efforts, indicators, experts, input and ideas keep up the good work.
RickyD
It also is wise to be trading 2 different systems at one time so if one has losses the other can cover the loss and even put you in profit. Don’t throw up your hands and panic, think of what options you have. If you’re going to make money or trade for more than a few months until your account is broke then read, listen, and for God sakes think of your options, there are many ways to keep an eye on market conditions.
If you have back tested the market you would have seen a stop loss and take profit and know what to expect for losses and wining trades and at least a good idea what the profit exspectations are realistic. Then you would not panic over losing a couple hundred pips. Sounds like you are just following others blindly and that is not what any business man or woman would do. If this is or is going to be your business then do your homework and you will be a success. If this is just for fun then don’t fuss enjoy your ride as you give your money away.
I hope this doesn’t sound critical but show you there are options and not give up or question a system the first time you have some losses and go running for the next that will also have some losses.
Thanks Ace and to those others that have put together the system and for the others with ideas for making it more profitable. I appreciate the efforts, indicators, experts, input and ideas keep up the good work.
RickyD
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