Is it true that anyone can succeed using any strategy? | Forex Factory

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Is it true that anyone can succeed using any strategy?

  • #1
  • First Post: Dec 16, 2011 8:58am Dec 16, 2011 8:58am
Hi guys, is it true that all the strategies that's available around internet (free or paid) is possible to achieve great success?

As in, if 100 people are given the same strategy, there may be one who will succeed by using the given strategy?

Is it not so much of the strategy but it is the person using the strategy?


Or does strategy does makes a difference in trading? Without a good strategy is it impossible to succeed as a trader? Is it possible to eliminate or minimize psychology issues during trading if one has a good strategy?

What do you say?
  • #2
  • Dec 17, 2011 2:39am Dec 17, 2011 2:39am
Quoting dvc11
Hi guys, is it true that all the strategies that's available around internet (free or paid) is possible to achieve great success?

As in, if 100 people are given the same strategy, there may be one who will succeed by using the given strategy?

Is it not so much of the strategy but it is the person using the strategy?


Or does strategy does makes a difference in trading? Without a good strategy is it impossible to succeed as a trader? Is it possible to eliminate or minimize psychology issues during trading if one has a good strategy?

What do...
I believe that you need a good strategy. Without a good strategy you won't make it in the long-run.
And then if you give a good strategy to 100 people only a handfull will be able to execute it by the letter.
And yes, it is possible to minimize psychology issues, what works for me is to review my decades long backtests and see that it works out over the long-run. Then discipline kicks in.
  • #3
  • Dec 17, 2011 2:42am Dec 17, 2011 2:42am
Quoting Custos
I believe that you need a good strategy. Without a good strategy you won't make it in the long-run.
And then if you give a good strategy to 100 people only a handfull will be able to execute it by the letter.
And yes, it is possible to minimize psychology issues, what works for me is to review my decades long backtests and see that it works out over the long-run. Then discipline kicks in.
i would listen to Custos.

he is got my credibility as a trader
AVT INVENIAM VIAM AVT FACIAM
  • #4
  • Dec 17, 2011 3:51am Dec 17, 2011 3:51am
actually, NOBODY can succeed without good and consistemt money/risk management
"If The Fool persists in his Folly he will become wise." - William Blake
  • #5
  • Dec 17, 2011 4:36am Dec 17, 2011 4:36am
Quoting The Fool
actually, NOBODY can succeed without good and consistemt money/risk management
well, but that goes hand in hand with having a good strategy that exploits an edge. Taking random entries with good and consistent money/risk management will still make you a loser in the long run.
  • #6
  • Dec 17, 2011 4:55am Dec 17, 2011 4:55am
Quoting Custos
Taking random entries with good and consistent money/risk management will still make you a loser in the long run.
a good trader could disprove that assumption
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7
  • Dec 17, 2011 5:04am Dec 17, 2011 5:04am
Quoting The Fool
a good trader could disprove that assumption
then please do so.
  • #8
  • Dec 17, 2011 5:21am Dec 17, 2011 5:21am
Quoting Custos
then please do so.
how much will you pay me?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #9
  • Dec 17, 2011 5:23am Dec 17, 2011 5:23am
Quoting The Fool
how much will you pay me?
nothing
  • #10
  • Dec 17, 2011 5:24am Dec 17, 2011 5:24am
An astute trader could trade any system on this forum profitably simply by knowing which trades NOT to take, and which may be of value.
Time hides Nothing
  • #11
  • Dec 17, 2011 5:34am Dec 17, 2011 5:34am
you both are right...... because as Cindyxxxxx said an astute trader can profit from a heads and tails system with a good money management and picking the best possible entrances, however that is what Custos said.....you need to know how to exploit this, hence a profitable system.

i am sure Cindyxxxx if you look at all my post and i give you a run down on how i trade, as an experience trader my strategy will make sense and you can profit by identifying the most probable market conditions in YOUR experience..............exactly what custos said..........YOUR EXPERIENCE being the key factor here
AVT INVENIAM VIAM AVT FACIAM
  • #12
  • Dec 17, 2011 5:41am Dec 17, 2011 5:41am
Quoting Custos
nothing
well prove it for yourself then son, i don't do nothin for free
"If The Fool persists in his Folly he will become wise." - William Blake
  • #13
  • Dec 17, 2011 5:47am Dec 17, 2011 5:47am
Exactly because a random entry to an experienced trader will be a completely different trade to that of someone with no market experience and assuming the same money management is used the defining factor will be the exit.

What you now have is a non random trade.

It's impossible to draw any sort of conclusions as to whether even the best of traders could profit from random entries because although a potentially bad trade could be closed straight away and potentially good trades could be held, what frequency are the random entries being made? What are the rules? Can we average up, down, scale in, scale out, control our lot size? Stop loss? Target profit? Flip the trade?

With an accommodating set of rules a good enough trader could profit from random entries simply by choosing the right exits. But there's too many variables to say one way or the other, it would depend on the context of the experiment.
Time hides Nothing
  • #14
  • Dec 17, 2011 6:06am Dec 17, 2011 6:06am
Quoting The Fool
well prove it for yourself then son, i don't do nothin for free
did I miss something? I am in the camp that random entries can't lead to profits. So how / why should I be then the one proving that it is possible?
  • #15
  • Dec 17, 2011 6:35am Dec 17, 2011 6:35am
Quoting Custos
did I miss something? I am in the camp that random entries can't lead to profits. So how / why should I be then the one proving that it is possible?
what you do or don't do is nothing to me
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16
  • Dec 17, 2011 6:43am Dec 17, 2011 6:43am
Quoting The Fool
what you do or don't do is nothing to me
oh yeah, you are awesome man

Sometimes I feel like in kindergarden with you guys.
  • #17
  • Dec 17, 2011 12:23pm Dec 17, 2011 12:23pm
Quoting Custos
oh yeah, you are awesome man

Sometimes I feel like in kindergarden with you guys.
It's "kindergarten". It took me a while realise too. Must be the accent.
Living the adventure in my head.
  • #18
  • Dec 17, 2011 12:28pm Dec 17, 2011 12:28pm
Quoting Leonlorenzo
It's "kindergarten". It took me a while realise too. Must be the accent.
I thought in english it's pronounced kindergarden? Well, as I am from germany, I know that the original word is kindergarten.
  • #19
  • Dec 17, 2011 12:36pm Dec 17, 2011 12:36pm
Quoting The Fool
a good trader could disprove that assumption
I'm in your camp, that an astute trader can win out over the long run with random entries if they have the proper trade management techniques. I've read in different books about scenarios where floor trader managers and head traders would base the directional bias of the entire trading floor on the most obscure insignificant things...off the top of my head I think one example was where some head trader would call either shorts only/longs only every time a plane flew by, and the traders would take the bias and they'd still make money, because they were all taught trade management.

Examples aside, it actually makes sense, say flip a coin, trade goes bad close it flip again, etc. it's evens out to 50/50 chance, all the bad trades are filtered out at break even or small losses and the winning ones are stacked becoming an overall winning strategy, after all the same trade management approaches are used by traders with systems that are less than 50% right...Custos, you know there are systems that are less than 50% right, worse than a random coin toss in chance, that do perform well over the long run, what possible market edge are they exploiting?
  • #20
  • Dec 17, 2011 12:40pm Dec 17, 2011 12:40pm
Quoting jeanlouie
Custos, you know there are systems that are less than 50% right, worse than a random coin toss in chance, that do perform well over the long run, what possible market edge are they exploiting?
Of course there are, my best systems have an average win/loss ratio of 20-30%. But just taking random entries never turned out profitable in the long-run, at least not in my backtests, no matter which money management rules used.
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