Instead of arguing with these guys, why don't you just show them some charts with your system? Or at least show them a chart explaining why you are about to take a trade so they can follow along.
Instead of arguing with these guys, why don't you just show them some charts with your system? Or at least show them a chart explaining why you are about to take a trade so they can follow along.
Ignored
Here you go... you will see, that his system is worth every dime you spend...
Quoting medbs
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Sell short USD/JPY at 91.80, waiting for closing position. (Safe position)
Er, yeah this is a wiggly line that actually proves nothing.
The difficulty I think anyone has in taking you seriously anymore is the massive losing trades you had, which you then went on to claim were fake trades. You are yet to provide clear, consistent proof of your strategy. Why for example do you need multiple accounts to trade this strategy in one month? if you are hedging your bets, does not this show doubt in your system.
As for calling me and others losers, can you also provide proof to that? I am not the one making claims of 100% winning systems, I am also not the one who is up for judgement as I have not once made claims to how successful my strategy is and how much money I make.
You have made a decent percentage of profitable trades, but there still seems plenty of unanswered questions.
Also it will take a lot longer than a month to prove a system is 100% accurate.
All my trades are statistically 100% right, even the three very highly risky trades that I took on 05/05/2010:
EUR/USD reached 1.2900
GBP/USD reached 1.5400
35 trades, how long did you hold some of those trades???
I think I took 35 trades in Asia last night with a 90% success rate and 5 pip draw down max, holding trades no longer then 10 minutes normally.
To me the real holy grail is price at the present, take a stab for the quick "it is going here" trades, and the success rate jumps with little stress holding for months.
If you are as good as you claim to be why then don't you post the details of your system so the rest of us can test it? If you don't plan to sell the system or start a signal service then what is the big deal about providing details of the system?
Are you trading the old magical 100% retacement following a S or R b/o? and utilising the lower 5 min tf to pinpoint exits / S or R breach? all while checking the daily & 4 hourlys to ensure a big b/o on a higher tf is not about to run your temperary loss through the roof or have you considerd hedging.? When you do consider hedging you might increase your tf's and start really enjoying the hard work you have done by taking larger profits less regularly and by maybe using your boat more?
No disrespect to any trader here but its not a 100% winning system you should be looking for. Its the draw down in pips that counts, let me explain suppose you want to trade and make money but you don't know which trade is going to fail, you have to assume all the trades have a similar risk level. So you are prepared to let a trade go 1200 points against you.
OK, so 10000 account $1 per point that a little high in risk but doable, so you are sitting looking at a $1200 loss or 12%, fine it goes to 1500 or 3000 pips and you are still in. But now the risk is 30% of your account and rising, one trade could wipe you out.
So lets say you accept a 5000 point loss and you set a max stop level of 5% of your account that means, $500 so you can trade this system for $0.10 per point. When you scoop your 100 pip trades you will make $10.
So even though a system like this can be traded, even with $10,000 you won't really make any money if you use major stops.
The holy grail does not need to be found, just a system that gives you a high win rate most of the time 70% or so, using a 100 pips stop.
Looking back above $500 can be risked on a trade, 100 point stop is $5 per point to trade with now when you hit 100 pips target you make $500 as long as you have a 70% win rate you will make money.
$3500 won
$1500 lost
$2000 net
Now, if you go gor a win to loss ratio of 70%, but look to run your trades to get 2 X your stop, the figures jumps dramatically.
$7000 as we go for double
$1500 lost.
Sadly when you go for double you often see the win rate drop, a way round this is to trade multiple contracts, say three contracts on a trade.
First contract is closed when your profit equals your stop on your two positions left, at this point your stop is covering any loss, you are now in a risk free trade. As soon as you get your two to one your stop on your second contract is moved to break even and your second contract is closed. You have now banked two positions and the third is left to run, the reaonbeing trades can run a long time. Taking a profit on a winning position with no risk is poor trading, profit targets are good, but the markets can move much further than anyone anticipates and that is where the money is made in trading holding winners.
