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Desperately seeking a good DAILY Trading System

  • #21
  • Apr 9, 2010 6:51pm Apr 9, 2010 6:51pm
don't bother with FOREX..

you will lose all your money.. PERIOD.
Why do we fall? "So we can learn to pick ourselves up."
  • #22
  • Apr 9, 2010 7:04pm Apr 9, 2010 7:04pm
Starting to see a trend here w/ your latest posts. I gather it was not a good week.
Quoting ForexDude
don't bother with FOREX..

you will lose all your money.. PERIOD.
In trading, there is no bullshit. You either make money or you don't.
  • #23
  • Apr 9, 2010 10:45pm Apr 9, 2010 10:45pm
You should try ADX parameter with time frame D1/H4?H1
with pivot, MACD and stochastic parameter
  • #24
  • Apr 10, 2010 12:15am Apr 10, 2010 12:15am
Quoting indiarsa
You should try ADX parameter with time frame D1/H4?H1
with pivot, MACD and stochastic parameter
Bingo.
  • #25
  • Apr 10, 2010 7:27pm Apr 10, 2010 7:27pm
Quoting swissforex
I THANK you all mates

but we're going no where

I'm not searching for the Holy Grail

But I've been reading forums - backtesting-forwardtesting in demo and real Eas and Trading sys for the last 2 years and I'm starting to think I wasted my time

...how many sleepless nights

But NO

I don't wanna give up
http://www.forexfactory.com/showthread.php?t=27286
  • #26
  • Apr 10, 2010 8:28pm Apr 10, 2010 8:28pm
Quoting ForexDude
don't bother with FOREX..

you will lose all your money.. PERIOD.
Wrong
They call me "Hondo"
  • #27
  • Apr 11, 2010 5:53pm Apr 11, 2010 5:53pm
Quoting swissforex
I THANK you all mates

but we're going no where

I'm not searching for the Holy Grail

But I've been reading forums - backtesting-forwardtesting in demo and real Eas and Trading sys for the last 2 years and I'm starting to think I wasted my time

...how many sleepless nights

But NO

I don't wanna give up
Vegas currency daily.
  • #28
  • Apr 19, 2010 4:16pm Apr 19, 2010 4:16pm
Quoting pipmutt
Really? I thought some of the replies you got were quite helpful.

So what are you after exactly, a system or strategy or something?
I'm searching for a KISS system

easy to follow with low breakdowns

No,I'm not crazy
Account deleted
  • #29
  • Apr 19, 2010 8:11pm Apr 19, 2010 8:11pm
i get up with the birds and trade the open, if i see a potential move through the day i "set it and forget it". i trade based on certian criteria that HAS to be met, and if its met then i dont need to baby sit it, the risk is worth the reward. if i dont see anything i dont open a position. every pip in the market dosent have to have my name on it, ill humbly take what the market gives me. its what my schedual allows for me right now
  • #30
  • Apr 19, 2010 10:01pm Apr 19, 2010 10:01pm
Hi

You can try swing trading at that period.
  • #31
  • Apr 20, 2010 11:58am Apr 20, 2010 11:58am
If you can't trade and watch charts you could always consider some exotic options, such as a barrier option where you basically look to buy the option and state that it will either touch or won't touch a certain point.

For example

GBP/USD is trading at 1.5357 and you think it will go upto 1.5457 within 3 days (not a recommendation, just an example). You buy the option and the site will calculate how much it will cost for the amount you which to get back. i.e. if you want to make $100 if correct, it might cost you say $70. If it crosses the barrier, you make $30 with in the time scale. Otherwise you lose $70.

Obviously the amounts you win/lose differ depending on the specifics of the trade.

This sort of trading is not easier than other methods, just different, but if you develop a decent plan/strategy it is possible to make money from it (just as it is also possible to lose lots of money from it).

I use to trade these and based my strategy on the daily charts. Each night I would look at the current prices and work out my entry levels and barriers, then set alerts to notify me of these via my mobile phone and would place my trade accordingly (didn't matter if you were a little late).

My strategy was probably the most boring you can imagine, maybe produced perhaps 4-5 trades per month (more if you added more currencies). You wait days for a trade, place the trade, then leave the option till expiry. The return I made was around 80% for the year. Unfortunately, due to personal circumstances I had to take time out from trading and haven't trade these options since. My strategy was based on the turtle trading system, but modified for trading exotic options.
  • #32
  • Apr 23, 2010 8:57am Apr 23, 2010 8:57am
Try the above, its sweet simple and free. Also its pretty good

http://www.lindencourt.net/daily_fx_system.html
  • #33
  • Apr 23, 2010 9:08am Apr 23, 2010 9:08am
Quoting swissforex
Hi mates

I LOVE Forex,but my regular job doesn't allow me to stay glued to the Monitor 8hrsday

I've been backtesting a lot of Trading systems and EAs

there's a lot of junk out there

I'm Desperately seeking a good DAILY Trading System,or whatever system could be work placing order between 8 PM GMT and 1 AM GMT

If you find something really good,please share

Please help me
Hi,

You may find some value here:

http://www.forexfactory.com/showthread.php?t=155459

Regards,
  • #34
  • Apr 23, 2010 9:47am Apr 23, 2010 9:47am
Hi,

I've recently moved from H4 trend trading to dailies and it is much easier!

A couple of trendlines and an understanding of support and resistance is all you need... K.I.S.S., as requested!

Regards,

Dan
  • #35
  • Apr 25, 2010 6:43am Apr 25, 2010 6:43am
Quoting swissforex
I THANK you all mates

but we're going no where

I'm not searching for the Holy Grail

But I've been reading forums - backtesting-forwardtesting in demo and real Eas and Trading sys for the last 2 years and I'm starting to think I wasted my time

...how many sleepless nights

But NO

I don't wanna give up
Don't give up.
http://www.forexfactory.com/showthread.php?t=27286
  • #36
  • Apr 26, 2010 11:20am Apr 26, 2010 11:20am
Quoting Gaukhoi
Try the above, its sweet simple and free. Also its pretty good

http://www.lindencourt.net/daily_fx_system.html
thank u mate and thanx to everybody here

I've tried that system 2 weeks ago
it was very good in backtesting

and I get burned out at my very first attempt

details= 2010.04.13 00.08 sell gbpusd 1.5357 sl 1.5498
I 'm in GMT+2 zone

stochs entered in the short range and then retraced !!
Account deleted
  • #37
  • Apr 29, 2010 4:02am Apr 29, 2010 4:02am
Hi, I personally feel there's is any Good Daily Trading System exist. Forex does not earn the reputation of being the most volatile market on earth.

There is always other factors out there to influence the price. If you are trading on a technical basis, there is always another technical theory or indicator to cover the previous error.

If you are trading on a fundamental basis, you are always being caught out by the big shots out there influencing the price movements.

In short, there's no good daily trading system. It all depends on you, urself. Risk management, greed/fear factor or luck whatever. It all depends on you.
  • #38
  • Apr 29, 2010 2:22pm Apr 29, 2010 2:22pm
Quoting The Loser
Hi, I personally feel there's is any Good Daily Trading System exist. Forex does not earn the reputation of being the most volatile market on earth.

There is always other factors out there to influence the price. If you are trading on a technical basis, there is always another technical theory or indicator to cover the previous error.

If you are trading on a fundamental basis, you are always being caught out by the big shots out there influencing the price movements.

In short, there's no good daily trading system. It all depends on you, urself....
No no no and yes.

You are right that it "all depends on you".

Being a successful trader is the same as being a successful businessman - not everybody is cut out for it. Some people must face the fact that trading is not for them.

But there definitely is some great daily trading systems around. James16's Chart Thread, Clockwork71's Silent Service Method, Jacko's House of Pleasure & Pain and Strat's thread are all great places to learn.

I am not just saying this because it is what I have chosen to do but I do believe trend trading the dailies is one of the easiest ways to do it: http://www.forexfactory.com/showpost...postcount=1000 give it a try (demo of course); I don't think you'll be disappointed.

Regards,

Dan
  • #39
  • Apr 29, 2010 8:25pm Apr 29, 2010 8:25pm
I honestly wonder how profitable some of the uber pessimistic people who are in this thread are. I'm not trying to be a jerk but sheesh, some of the posters in this thread must have just finished trading on the wrong side of the pip.

Trading isn't impossible but it is far from easy. Your best system is going to be experience married to whatever style or system of trading you decide to use. And until you have that experience yeah, trading is going to be a lot like looking at tea leaves for a while. But you CAN learn the market. You CAN be profitable. Winning doesn't equal being profitable, money management and not over trading equals being profitable, sometimes riding one out, sometimes taking your profits and running.

If I have learned anything from the seasoned traders on these forums, (the positive ones who are profitable), it is that you don't give up. Keep trying, keep learning, and use MM to gain profits as you do, instead of blowing your account.

If you are willing to go after trading and study it as you would any other vocation or field of study, you WILL be successful, it may take YEARS. But it will be WORTH it.

Btw, this isn't my advice, it is the advice of the veteran profitable traders on this forum, traders not just looking to take your buck, but the kinds that offer their help and experience often entirely for free, just to help you shave a bit off of the learning curve. But the curve will always be there nonetheless.
Thank you Lux!
  • #40
  • Apr 29, 2010 9:41pm Apr 29, 2010 9:41pm
Quoting swissforex

I've tried that system 2 weeks ago
it was very good in backtesting

and I get burned out at my very first attempt

details= 2010.04.13 00.08 sell gbpusd 1.5357 sl 1.5498
I 'm in GMT+2 zone

stochs entered in the short range and then retraced !!
2 weeks for a daily system and your done with it?

Theres your problem right there. So it failed the very first time... must be garbage right? If you are expecting a never lose strategy then you will be surely disappointed my friend.

If you dont change your way of thinking you may as well hire an financial adviser and go with some long term mutual funds because if one bad trade bothers you enough to drop a system then you wont make it too long here.
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