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Looking for a full time trader trading a mechanical system

  • #21
  • Feb 8, 2012 9:44am Feb 8, 2012 9:44am
Here are two charts 5M with a 1 day moving average and 1H with 3 day ma. Most systems look great after the fact. If there was a way to filter lets say half of the bad trades I'd be happy trading either one of these.

The point I'm trying to get across is how do you filter the good trades from the bad?

http://i1083.photobucket.com/albums/...2pips/5M1D.png

http://i1083.photobucket.com/albums/...2pips/1H3D.png
  • #22
  • Feb 8, 2012 9:45am Feb 8, 2012 9:45am
Quoting johnny2pips
Are there any full time traders here trading 100% mechanical systems. By mechanical I mean you see something happen via indicators and take a trade. Where discretion is not part of the equation.

I've always been told if you want to learn learn form those who are already successful in the business.

I'm really struggling with trading this year and last. It seems like I can only go wrong or when trades go good all the small losses overtake the larger wins. You'd think if someone can be consistently wrong with a little work and perseverance the...
it may take years of backtesting to come up with a winning trading system. that implies work(backtesting) and creativity(coming up with your own ideeas). take the whole trading system section and test everything that you can, even the most simple ideeas.when you're done try these websites: http://www.forexstrategiesresources.com/ and this http://forex-strategies-revealed.com/ . learn also about price action. at least 500 trades for backtesting each good ideea. you might get ideas from this book also - entries and exits - elder alexander.
  • #23
  • Feb 8, 2012 9:48am Feb 8, 2012 9:48am
Quoting johnny2pips
Here are two charts 5M with a 1 day moving average and 1H with 3 day ma. Most systems look great after the fact. If there was a way to filter lets say half of the bad trades I'd be happy trading either one of these.

The point I'm trying to get across is how do you filter the good trades from the bad?

http://i1083.photobucket.com/albums/...2pips/5M1D.png

http://i1083.photobucket.com/albums/...2pips/1H3D.png
ok heres my two cents.. your on the right track.. I'd say spend this month trying to solve this issue... except when doing so alternate between what you asked and also the question "how do I know what to go long or when to go short" and other similar but different questions
  • #24
  • Feb 8, 2012 9:50am Feb 8, 2012 9:50am
Quoting newyear498
really dont care, maybe if someone offered a full system to me in my beginning on FF I'd do the same(if it worked)

however I think the reason people don't help is way better reason than any... its the blind leading the blind around here..

and what works for me doesn't always work for you, so its better we not confuse eachother.. take a look around FF and my point is proven

so I guess its a paradox that I am really helping you buy not offering a xyz system but rather smaller bits of advice.. similar to how you don't feed the baby a whole steak...
For goodness sake, the man is only asking for a little help and guidance! Would a bit of "milk of human kindness" be too much to ask?
  • #25
  • Feb 8, 2012 9:52am Feb 8, 2012 9:52am
Quoting newyear498
ok heres my two cents.. your on the right track.. I'd say spend this month trying to solve this issue... except when doing so alternate between what you asked and also the question "how do I know what to go long or when to go short" and other similar but different questions
This I can do
  • #26
  • Feb 8, 2012 9:56am Feb 8, 2012 9:56am
Quoting eyevoltage
For goodness sake, the man is only asking for a little help and guidance! Would a bit of "milk of human kindness" be too much to ask?
I agree no reason to continue the trend, lead by example I'll help where I can but I also don't wanna say do this do that and you'll make money so ya know

also I havent been profitable for 2 consistent years which is my goal before I can claim success so everyone needs to take my words with grain of salt
  • #27
  • Feb 8, 2012 9:58am Feb 8, 2012 9:58am
Quoting johnny2pips
Instead of blatantly asking to be taught I'll give a few examples and maybe you can comment on what may or may not be right.
is that to response of my post?
Have I got something on my face, SOLDIER?
  • #28
  • Feb 8, 2012 10:02am Feb 8, 2012 10:02am
Quoting newyear498
I agree no reason to continue the trend, lead by example I'll help where I can but I also don't wanna say do this do that and you'll make money so ya know

also I havent been profitable for 2 consistent years which is my goal before I can claim success so everyone needs to take my words with grain of salt
Fair enough, brother. You can "suggest" this and "hint" at that, and let the man make his own mind up. Nothing wrong with that.
God bless.
  • #29
  • Feb 8, 2012 10:09am Feb 8, 2012 10:09am
hi eyevoltage,

you re very kind person,

i wish you the best, take care

regards.
  • #30
  • Feb 8, 2012 10:11am Feb 8, 2012 10:11am
Quoting bumapatria
read ma post brother ...


and to Johnny - i am still new to markets as well. skill is nothing, i learnt basically what u need to learn about buying and selling for profit in less than 6 months. I range from price action trading , to trading cycles and time and astrology... its not hard..but what i didnt realize was the mindset takes more time. im not consistently profitable yet - but i do have that skill and potential to profit. in fact i have. i jsut need to be consistent. now johnny do u haave the same case as me?

i am working on my psychology...
Sorry bud skipped right over your post. I think we are in a similar boat. Most systems I've traded can be profitable if as the saying goes cut your losses short and let the profits run. I tend to cut losses to early and take profits to early. Does that make sense?

I don't take fundamental analysis into consideration at all because it's just not in my personality to do so. I'd rather have a trade open for a week or two than have to wonder if a news release is going to wreck profits. Maybe this sounds weird from someone that had clearly stated they'd traded 1H charts. Hopefully this answers your question.
  • #31
  • Feb 8, 2012 10:15am Feb 8, 2012 10:15am
Quoting katrooo
hi eyevoltage,

you re very kind person,

i wish you the best, take care

regards.
Thank you, brother.
God bless you.
  • #32
  • Feb 8, 2012 10:19am Feb 8, 2012 10:19am
I am not a full time trader but in my opinion the best thing you can do is to trade the daily time frame. Its ALOT better. Try it for a while with the same methods you used before, I am sure it will work a lot better.
  • #33
  • Feb 8, 2012 10:23am Feb 8, 2012 10:23am
Sounds like you want someone to do all the work for you so I'd suggest you stop right now and save yourself some money.

Or, there are hundreds of potentially profitable methods/systems. Pick one. Figure out a money management -trade management strategy and manually back test the entry/exit criteria using several years of data. Does the method have a good expectancy? Do the rules fit with your understanding of the logic of the markets? Does your logic fit with the reality of how the market moves/behaves. Create a trading plan, create a trade journal, take screen shots of every trade before and after shots, jot down all your mistakes, review all trades at the end of day/week/year's results, adjust and learn from mistakes.
  • #34
  • Feb 8, 2012 10:46am Feb 8, 2012 10:46am
Quoting misterboy
I am not a full time trader but in my opinion the best thing you can do is to trade the daily time frame. Its ALOT better. Try it for a while with the same methods you used before, I am sure it will work a lot better.
hey man,

i think u can be right about this, but one very important thing is, that your learning curve will be definitely much more slower in comparison to frequent daytrading.

best regards.
  • #35
  • Feb 8, 2012 10:51am Feb 8, 2012 10:51am
Quoting bumapatria
bla bla bla this guy just randomly posts wins of 100 pips or whatever after the moves - no charts whatsoever - just posts that claim he's king.


------------------------------------
and to the Tthread starter :
most profitable traders do not have time to help hand in hand a beginning trader. its best to learn on your own - butsome do and you can always have a mentor or a trading buddy.

good luck to your journey

after the moves ?? have you forgotten me on the gold thread ?

i used to constantly state my entries BEFORE i entered, and used to have consistent winnings. are you not the same 14 year old bumapatria ??

little boy, having trouble making pips now then are you ?

i only post when i have time nowadays. as too busy making pips, unlike you.

bye bye.
  • #36
  • Feb 8, 2012 11:04am Feb 8, 2012 11:04am
Johnny,

Pork is dead on, the only option is to pick something that suits you (may I suggest supply and demand- google "Sam Seiden" and watch his webinars- that's what works for me). After choosing something that works for you stick with it at all costs and document your every move. You can only learn from your own success and failure. You have to objectively review your winners and losers and the only way to do this is by documenting them

Katrooo had a great post about sentiment and price action, also worth reading again.

Whatfx- be nice dude
  • #37
  • Feb 8, 2012 11:39am Feb 8, 2012 11:39am
As long as you do not over trade and do not use higher levarage any system will be profitable. I would love to help you. The problem is not with the systems but with the interpretation.
  • #38
  • Feb 8, 2012 11:53am Feb 8, 2012 11:53am
Hello,

Do some fundamental analysis,atleast basics.Get one or two indicators,tweak parameters so that it gives right indications in back tests.

Then STICK to your system.Indicators if is showing right signals in the past,have a very high probability to produce the same in future too. Just see if there is any big news release or S/R bands which might come in the way.

You can crack it.. All the best
  • #39
  • Feb 8, 2012 12:00pm Feb 8, 2012 12:00pm
Quoting myfx4u
As long as you do not over trade and do not use higher levarage any system will be profitable. I would love to help you. The problem is not with the systems but with the interpretation.
so if I flip a coin once a Month (to avoid over trading)

and I only trade 0.01% per trade (to avoid higher levarage)

then my system will profit?
  • #40
  • Feb 8, 2012 1:05pm Feb 8, 2012 1:05pm
Guys lets not turn this into a who's the better trader flame war.

For those of you thinking I haven't tried go ahead and think that. All I wanted was a nudge in the right direction there's always more to learn about any subject including trading.

Thank all of you who actually wanted to help and did. I'll have reading material for quite a while.
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