End of Day Trading System

No I don't

Hi Porkpie

After reading some articles & watching some videos by Seiden as prompted by your post 19 Nov 2009 (http://www.forexfactory.com/showthre...=206723&page=5) your mention of supply & demand levels sounds familiar

May I hear your view on differences between Seiden's supply & demand & WMD's Deadly approaches? Am still making head & tail of them.

Sorry if this is a little out of place here. Thx.

Just an observation to be made. There's no such thing as a 100% winning system (I know you knew that). But one shouldn't get depressed by the fact that a system has losses. The only thing a trader really needs is an edge. The edge can be small, but over time, it results in gains. If you can verify that a system gains dependably over time, then you have a system worth trading.

It's a sliding scale of gains/losses depending on the R/R. With an RR of 1:2 or greater, you're wins will happen less often, but your gains will be greater. You can actually lose more often than you win, and still make good money.

On the flipside, a system with an RR of less than 1:1, such as 2:1 or less, may give many winning trades, but as you've experiened, it's hard to stay with the system when it takes just a few losses. It could even wipe out your account.

So I would suggest that one learns to love a good RR of 1:2 or better with enough edge to make a decent profit. This is "healthier" in my view than craving a system that wins most of the trades. Small losses and big gains works well, but one needs to learn to love taking the small losses in order to get the big gains. The key is in absolutely loving to take a loss because you know it is small, and the big gain is on it's way (provided you've done your due diligence and backtesting, etc...) That's the proper trading attitude IMHO.

HI, you say that you have to find a pair that moved 100 pips from high to low, does the same fomula apply if the pair moved from low to high.

Thanks