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The life of a trading system on Forex Factory

  • #1,501
  • May 1, 2012 8:07am May 1, 2012 8:07am
Quoting mmaker
Excerpts from a ebook,
cool... should i give my 200 pips back from today then?

gonna expand on it or is that it?
tradewith60
  • #1,502
  • May 1, 2012 9:25am May 1, 2012 9:25am
Quoting mmaker

Excerpts from a ebook,
Very nice but what does the author suggest the reader do with his new found knowledge? I'm assuming there's more to the story?
  • #1,503
  • May 1, 2012 9:35am May 1, 2012 9:35am
oh he's added another page..!

wish he would get to the point
tradewith60
  • #1,504
  • May 1, 2012 9:38am May 1, 2012 9:38am
LOL, simply excellent diagnosis of the "Search of the Holy Grain on FF" phenomenon!
I think there's a lot to learn from this behavior (which most of us had at some point): that you can very successfully trade a simple support & resistance, a trendline or a fib or simply trade without any indicators at all if you've reached the maturity to understand 1) that there is no guru or holy grail; 2) there's no consistent profit without hard work, discipline & dedication & 3) the probability to turn $100 into 1M by exponentially exploding your account equity is about the same as winning the lottery (that's about 1 chance in 12million here)
All this being said, anyone tried any good system on FF lately?
  • #1,505
  • May 1, 2012 9:41am May 1, 2012 9:41am
Quoting 60minuteman

oh he's added another page..!

wish he would get to the point
It's like a lot of these e books, they're long winded and repetitive, most of the information could be written on the back of a beer mat (probably was originally!) but I'm guessing not many people would buy it so they need to eeeeeexpaaaand it out a bit! Why say in two sentences what you can say in two hundred pages!

Bit like this thread really......
  • #1,506
  • May 1, 2012 9:44am May 1, 2012 9:44am
Quoting mmaker
Excerpts from a ebook,
Haha what a load of BS. The charts show you market sentiment, who gives a toss who or what it is causing the moves? Learn how to follow the biggest money.
  • #1,507
  • May 1, 2012 9:45am May 1, 2012 9:45am
its the mathew fischer one i think... nothing new...

still got 94 on au and 85 on gold regardless
tradewith60
  • #1,508
  • May 1, 2012 10:50am May 1, 2012 10:50am
Quoting jag1966
Haha what a load of BS. The charts show you market sentiment, who gives a toss who or what it is causing the moves? Learn how to follow the biggest money.

Something we agree on, anything else is seriously over thinking and confusing it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,509
  • May 1, 2012 11:21am May 1, 2012 11:21am
Quoting PipsAndTips

All this being said, anyone tried any good system on FF lately?
lol, you were going great......until.....you fell at the last hurdle!

Sarcasm, right?
  • #1,510
  • May 1, 2012 11:26am May 1, 2012 11:26am
Quoting PipsAndTips

All this being said, anyone tried any good system on FF lately?
Yeah. Some guy named Paulus trades 1min chart on spread bet pwatform and makes 200% per month Its true. He told me.
  • #1,511
  • May 1, 2012 11:55am May 1, 2012 11:55am
Very well said! That is one reason why I've stayed away from the forums to be honest. Trading currencies doesn't have to be complicated, newbies love to make it complicated with tons of indicators.

When I first started, I had 5-6 indicators on each screen for 10 different pairs. Now, I have 1-2 per screen, for 7-10 pairs. What a big difference!
  • #1,512
  • May 1, 2012 11:58am May 1, 2012 11:58am
Quoting jag1966
Haha what a load of BS. The charts show you market sentiment, who gives a toss who or what it is causing the moves? Learn how to follow the biggest money.
Why do people get so excited about bashing fundamentals? Macro fundy sentiment moves the market. Can be used as an indicator alongside the context of price action, that's all, no big deal, no conspiracies etc.
  • #1,513
  • May 1, 2012 12:31pm May 1, 2012 12:31pm
Quoting Porkpie
Why do people get so excited about bashing fundamentals? Macro fundy sentiment moves the market. Can be used as an indicator alongside the context of price action, that's all, no big deal, no conspiracies etc.
because fundamentals are much more difficult to analyze. People prefer the easy road and just look at price or indicators per se. And like the little children they are, they rather stick their fingers in their ears and scream "lalalalala", when they hear about fundies.

While I personally don't use fundies a lot, I also think for longer-term trading or investing being able to do an educated analysis might be beneficial.
  • #1,514
  • Edited 12:56pm May 1, 2012 12:40pm | Edited 12:56pm
Quoting Porkpie
Why do people get so excited about bashing fundamentals? Macro fundy sentiment moves the market. Can be used as an indicator alongside the context of price action, that's all, no big deal, no conspiracies etc.
Point taken, but the time spent studying them was utterly wasted once I realised monthly weekly TA pisses all over them and utterly negates any need to try to second guess the market. Just MHO based on years of research.

The other reason I keep on bashing it is that I so wish somebody had told me FA was a waste of time years ago, well actually they did and like tit I ignored their advice.
  • #1,515
  • May 1, 2012 1:54pm May 1, 2012 1:54pm
Quoting Porkpie
Why do people get so excited about bashing fundamentals? Macro fundy sentiment moves the market. Can be used as an indicator alongside the context of price action, that's all, no big deal, no conspiracies etc.
I think its simply easier to draw a line and draw a conclusion, its easier for me to look at an indicator and allow the indicator to tell me buy or sell. However, when I read bank reports from RBS or UBS, and it says that inflation is growing, many people would probably pass over that statement without second guessing what hint is coming from that small statement. It's easier now for me to read those small cryptic messages because I've been taught well what the Fed might do to stop inflation.

Learning how an economy works takes time and effort, studying, dedication.
  • #1,516
  • May 1, 2012 2:00pm May 1, 2012 2:00pm
I would go even further.

A PhD in economics and you still DON'T know how the market works hence the nick name the "dismal science".

so it is just ignorance to believe that one can possible know what price will do by simple mathematical calculations.

trading is difficult, and mostly unpredictable.
AVT INVENIAM VIAM AVT FACIAM
  • #1,517
  • May 1, 2012 2:29pm May 1, 2012 2:29pm
Quoting the redlion
I would go even further.

A PhD in economics and you still DON'T know how the market works hence the nick name the "dismal science".

so it is just ignorance to believe that one can possible know what price will do by simple mathematical calculations.

trading is difficult, and mostly unpredictable.
wish you would stop saying trading is difficult... it's bad psychology if nothing else
tradewith60
  • #1,518
  • May 1, 2012 2:40pm May 1, 2012 2:40pm
Quoting 60minuteman
wish you would stop saying trading is difficult... it's bad psychology if nothing else
no it is not the psychology

and it is not the analysis

it is not the money management apparently ... and it is not the intellect i have plenty of that.

I trade an account of 10,000 usd, to me i can give that away to charity and not feel any pain at all so the psychology is not my problem

i am extremely intelligent and have a great amount of knowledge of market structure, macro economics, technical analysis etc.

and i am fairly ok with risk management.


I believe we need to stop with the stupidity of saying that making money CONSISTENTLY in the market is easy, and a matter of experience, or other bull shit people spit out.

it is clearly extremely difficult, even inter banks, and incredibly great traders loss fortunes.

let's accept how difficult it is and begin meaningfully trying to understand it, adapt and work on it.
AVT INVENIAM VIAM AVT FACIAM
  • #1,519
  • May 1, 2012 2:47pm May 1, 2012 2:47pm
Quoting the redlion
no it is not the psychology

and it is not the analysis

it is not the money management apparently ... and it is not the intellect i have plenty of that.

I trade an account of 10,000 usd, to me i can give that away to charity and not feel any pain at all so the psychology is not my problem

i am extremely intelligent and have a great amount of knowledge of market structure, macro economics, technical analysis etc.

and i am fairly ok with risk management.


I believe we need to stop with the stupidity of saying that making money CONSISTENTLY...
Give away 10k, bank of mommy and daddy?
  • #1,520
  • May 1, 2012 2:49pm May 1, 2012 2:49pm
Quoting jag1966
Give away 10k, bank of mommy and daddy?
i did not understand the question.


are you saying to give it away to may parents? or that my parents funded my account?

or are you trying to be an ass implying that i do not have what it takes because I believe this to be difficult.

state your views clearly.
AVT INVENIAM VIAM AVT FACIAM
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