DislikedThat was a great post, thanks. I have one more question, related to the quoted part. The rules of the system are very simple. I am sure the people who contacted you are not stupid or blind, they can see when 4 dots turn red. So I suppose (correct me if I'm wrong!) that the mistakes those people made are of a different kind. Maybe they don't grasp some discretionary aspects as well as you do. I can think of many such things - e.g. entering when the pair has almost completed its daily range, or when important news are expected or when the pair is...Ignored
Yes you're absolutely correct, discretion indeed does play a large part in this, and in every system. I posted my method a few pages back in a zip file, (I have it bookmarked if you want to have a look), and the main error people make is 1. ignoring the stochastic and entering short when the PA is massively oversold, and even more common, and this is common to all new traders, that they insist on taking trades at a time that suits them. I have spoken at length about only taking trades when the market wants to give up it's pips. For me, in my time zone, that is from about 1 hour before Frankie opens until about 4 hours after London opens. That's when I make consistent gains. The hours can be anti social, but we cannot force pips to come at a time to suit us!!
A few pages back, someone (I forget who) wanted to take a trade because Symphonie indicated a long position, and I said that I wasn't interested because the stoch was overbought. The trade went up for about 8 pips before it fell a long way. I think Ohammond made a comment about it. This is the typical type of error I see, and is easily avoided.
Top conclude, a system that trades 100% mechanical doesn't exist. Take a look at any EA and you will see why this is so!! As I have said in this thread a few times now, the trader MUST know how to trade to get the most from this system.
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