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The life of a trading system on Forex Factory

  • #561
  • Apr 11, 2012 3:45pm Apr 11, 2012 3:45pm
they're the sort of charts that bring planes down !!!
tradewith60
  • #562
  • Apr 11, 2012 5:03pm Apr 11, 2012 5:03pm
Quoting Slim Buffett

But you can't seem to think past that (doggie can only do what doggie is trained to do)
Old dog, new tricks.....well, you get the picture
  • #563
  • Apr 12, 2012 6:41pm Apr 12, 2012 6:41pm
that chart picture ist fantastic, i had to save it into my collection. so many lines, for SURE one of them tells the truth.

i keep hammering this one: 20% a year means <2% a month, less than 1% per week.
guys. 5 full NY sessions and you dont get at least one big winner? or 5 small winners and 4 very small losers? account exposure is no excuse.

then, what do those charts tell you? random noise?
  • #564
  • Apr 12, 2012 6:48pm Apr 12, 2012 6:48pm
Quoting Brutalpip
that chart picture ist fantastic, i had to save it into my collection. so many lines, for SURE one of them tells the truth.

i keep hammering this one: 20% a year means <2% a month, less than 1% per week.
guys. 5 full NY sessions and you dont get at least one big winner? or 5 small winners and 4 very small losers? account exposure is no excuse.

then, what do those charts tell you? random noise?
Yep, people really do suck that badly at trading there barely able to make a profit at all and cause they suck they think everyone else must also suck and doing better just isn't possible.

Risk 2% per trade, make 1 trade per day, get a win rate of 60% and your making 2% per week, that without compounding 104% per year, you've got to believe above 60% is possible, you can make more than 1 trade per day and sometimes you'll make 2-5x's your risk so 4% - 10% in 1 hit.

Most peoples edge is literally 51% win rate anyone who's trading of H4 candles and waiting for the candle to end to make a decision, you can click ignore on immediately, in short.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #565
  • Apr 12, 2012 7:04pm Apr 12, 2012 7:04pm
Quoting Turveyd
Yep, people really do suck that badly at trading there barely able to make a profit at all and cause they suck they think everyone else must also suck and doing better just isn't possible.

Risk 2% per trade, make 1 trade per day, get a win rate of 60% and your making 2% per week, that without compounding 104% per year, you've got to believe above 60% is possible, you can make more than 1 trade per day and sometimes you'll make 2-5x's your risk so 4% - 10% in 1 hit.

Most peoples edge is literally 51% win rate anyone who's trading of H4 candles...
I agree with everything here...

except the H4 statement? that makes no sense at all...

in fact everyone I have ever known to really make their living trading has paid a lot of attention to h4 closes and most have used them to enter trades..

GA short today for instance... posted it on my thread... +3%... Price bounced off a monthly s/r line, H4 closed down below s/r.. short the next h4 for 70 pips...
tradewith60
  • #566
  • Apr 12, 2012 7:13pm Apr 12, 2012 7:13pm
Quoting 60minuteman
I agree with everything here...

except the H4 statement? that makes no sense at all...

in fact everyone I have ever known to really make their living trading has paid a lot of attention to h4 closes and most have used them to enter trades..

GA short today for instance... posted it on my thread... +3%... Price bounced off a monthly s/r line, H4 closed down below s/r.. short the next h4 for 70 pips...

We can all quote 1 trade which worked, even the worst of the worst of us, odds are you'll give it back on the next trade whats the point.

Or maybe you can actually trade and read a H4 chart.

Look around most people trading H4 might aswell just flip a coin there results are pretty much 50/50 there entrys might aswell be random as there is nothing in them.

H4 gets interest cause it's safe, if you run same TP and SL like most do then odds are 50/50 you don't blow through your account quickly, but at the same time you don't actually get anywhere due to the near 50/50 nature of that trading style. A good trade maybe gets to 52% win rate, 54% top, a bad trader won't drop below 46% pretty much. *

M1 you can and likely will blow the account in no time, but the potential is there to explode your account into something huge!!



* there will be exceptions, but I've not seen 1 of them yet, maybe your it, maybe your not without your account passwords we'll never know.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #567
  • Apr 12, 2012 7:20pm Apr 12, 2012 7:20pm
Quoting Turveyd
We can all quote 1 trade which worked, even the worst of the worst of us, odds are you'll give it back on the next trade whats the point.

Or maybe you can actually trade and read a H4 chart.

Look around most people trading H4 might aswell just flip a coin there results are pretty much 50/50 there entrys might aswell be random as there is nothing in them.

H4 gets interest cause it's safe, if you run same TP and SL like most do then odds are 50/50 you don't blow through your account quickly, but at the same time you don't actually get anywhere...

Are you on drugs? Or just drunk because that is complete bullshit what you just wrote.

Or your just trolling and having some fun.Which I understand...But if your serious then someone stab me in the balls with a fork because surely im dreaming. LOL
Master your Mind,,,Master the Market
  • #568
  • Apr 12, 2012 7:24pm Apr 12, 2012 7:24pm
Quoting bluesteele
Are you on drugs? Or just drunk because that is complete bullshit what you just wrote.

Or your just trolling and having some fun.Which I understand...But if your serious then someone stab me in the balls with a fork because surely im dreaming. LOL
Or you've been brain washed like everyone else here about how great H4 is and you shall only trade H4.

It's your life/money your wasting not mine!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #569
  • Apr 12, 2012 7:31pm Apr 12, 2012 7:31pm
shit... back to the drawing board for me then...

and everything was going so wel... ho hum....
tradewith60
  • #570
  • Apr 12, 2012 11:46pm Apr 12, 2012 11:46pm
Quoting Turveyd
We can all quote 1 trade which worked, even the worst of the worst of us, odds are you'll give it back on the next trade whats the point.

Or maybe you can actually trade and read a H4 chart.

Look around most people trading H4 might aswell just flip a coin there results are pretty much 50/50 there entrys might aswell be random as there is nothing in them.

H4 gets interest cause it's safe, if you run same TP and SL like most do then odds are 50/50 you don't blow through your account quickly, but at the same time you don't actually get anywhere...
can you explain a bit more how win-rate and time-frame is linked? I don't really understand your argument. Also not sure why a high win-rate is needed in your point of view. I have a 20% win-rate and haven't looked back ever since.

Quoting Turveyd
M1 you can and likely will blow the account in no time, but the potential is there to explode your account into something huge!!



* there will be exceptions, but I've not seen 1 of them yet, maybe your it, maybe your not without your account passwords we'll never know.
problem with the low time-frames is always trading costs. You really must be lucky to find something that can be profitable on the m1 over the long-term.
  • #571
  • Edited 2:22am Apr 13, 2012 1:47am | Edited 2:22am
Quoting Turveyd

Yep, people really do suck that badly at trading there barely able to make a profit at all and cause they suck they think everyone else must also suck and doing better just isn't possible.
It's not a matter of sucking at trading, some people (particularly investors) prefer extremely low risk and are perfectly satisfied with double digit returns and an ultra smooth equity curve. Mention 100, 200, 1000% return and they'll run a mile! For traders with say $500 who want to turn it into a couple grand that's fine, they're happy to blast away and good luck to them, I have no doubt at all that it's achievable.


Quoting Turveyd

Risk 2% per trade, make 1 trade per day, get a win rate of 60% and your making 2% per week, that without compounding 104% per year, you've got to believe above 60% is possible, you can make more than 1 trade per day and sometimes you'll make 2-5x's your risk so 4% - 10% in 1 hit.
You're starting to sound like one of those 'all-I-need-is-10-pips-a-day' guys!


Quoting Turveyd

Look around most people trading H4 might aswell just flip a coin
lol, you need to get into a landing pattern my friend, your head is in the clouds.....or somewhere!


-
  • #572
  • Apr 13, 2012 1:49am Apr 13, 2012 1:49am
Quoting 60minuteman

shit... back to the drawing board for me then...

and everything was going so wel... ho hum....
I hope that was sarcasm because from what I've seen you're doing great so far!

If it ain't broke......
  • #573
  • Apr 13, 2012 1:53am Apr 13, 2012 1:53am
Quoting pipmutt
I hope that was sarcasm because from what I've seen you're doing great so far!

If it ain't broke......

yeah pipmutt... sarcasm...
tradewith60
  • #574
  • Apr 13, 2012 2:13am Apr 13, 2012 2:13am
Quoting 60minuteman

yeah pipmutt... sarcasm...
ok that's cool
  • #575
  • Apr 13, 2012 2:27am Apr 13, 2012 2:27am
Quoting Turveyd
We can all quote 1 trade which worked, even the worst of the worst of us, odds are you'll give it back on the next trade whats the point.

Or maybe you can actually trade and read a H4 chart.

Look around most people trading H4 might aswell just flip a coin there results are pretty much 50/50 there entrys might aswell be random as there is nothing in them.

H4 gets interest cause it's safe, if you run same TP and SL like most do then odds are 50/50 you don't blow through your account quickly, but at the same time you don't actually get anywhere...
Where do you get that a good trader gets a win rate of 54% "tops"? Sounds to me like you just pulled that number out of the sky.
  • #576
  • Apr 13, 2012 4:07am Apr 13, 2012 4:07am
Quoting 2+2=4ex
Where do you get that a good trader gets a win rate of 54% "tops"? Sounds to me like you just pulled that number out of the sky.

Look around at the H4 trader threads, where they aren't lying, Win yeahhh, Lose Boooo, Win Yeeehhhh there barely above break even.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #577
  • Apr 13, 2012 4:33am Apr 13, 2012 4:33am
Quoting Turveyd
Look around at the H4 trader threads, where they aren't lying, Win yeahhh, Lose Boooo, Win Yeeehhhh there barely above break even.
Wow! I never knew the forex factory threads would be such a great tool to determine what time frame I should trade. Thank you Turveyd

Shit what if I want to scan the H4 using multiple time frame analysis. If using three time frames does that mean I could expect to have a third of my trades break even, lulz.
  • #578
  • Apr 13, 2012 5:11am Apr 13, 2012 5:11am
Since nobody's said the obvious:
Quoting Turveyd
Look around most people trading H4 might aswell just flip a coin there results are pretty much 50/50 there entrys might aswell be random as there is nothing in them.

H4 gets interest cause it's safe, ...
M1 you can and likely will blow the account in no time, but the potential is there to explode your account into something huge!!
M1 has more details, so you can see more opportunities.
H4 has fewer details, so fewer choices makes it seem like a 50-50 deal.

Just one variable, I suppose.
  • #579
  • Apr 13, 2012 7:32am Apr 13, 2012 7:32am
Custos, if you have a moderate SL of 25pips and you pay 3pips, its about 10% costs of your losers. this didnt scare me off last month, when i had a row of 12 SL runs. because before that, i had a nice collection of fully hit 1:4 R R trades. im unhappy about the fact that i touched the green trades at all, because what is the oldest trend following rule?

let them grow like a plant.

what i wanna say is, if you get one single nice trend thingie per week, or just on lasting several days, you have 100pips per every day at average, you risk 2-5% - you are doing phenomenal.

what i forgot to say: my last month consisted of coin tossing and ignoring charts, and my account has steadily grown. let the maths work for you if life offers it to you...
  • #580
  • Apr 13, 2012 7:35am Apr 13, 2012 7:35am
Are you guys still following the Extreme TMA System thread? Alorente just declared that he can predict future price actions! And he is giving away all his secrets!
Quoting Alorente
do you understand what I explained in the three posts about this method of price prediction? I am passing on to you my biggest and most valuable secret. It has been key for my trading over the years. It would be a pity if you guys donīt understand it.
Quoting Alorente
Does anyone understand what I am explaining? Please, let me know. I know it is complicated, but when you become an expert with this process, you will realize that future price is predictable to a large extent. Believe me when I tell you that over the years I have been able to predict many price movements using this method. By the way, it works equally well in all time frames. The longer the TF, the more accurate it is in its predictions.
No longer trading forex. Looking for full time job.
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