JMO...
1a) J16
1b) Trading Made Simple.
1a) J16
1b) Trading Made Simple.
Hej.
- #43
- Aug 21, 2012 10:13am Aug 21, 2012 10:13am
- | Joined Oct 2011 | Status: In your head, eating your brain | 2,562 Posts
Interesting that you mentioned tweaking. If someone found a good profitable system, and proven with results, and all you have to do is follow the same exact steps ...... you would theoretically reap the same results. BUT, what people tend to do is to "doubt" the system, and then try to tweak it or "make it better". After a series of extensive tweaking and modifications, and adding of new features after backtesting, the "new" system is quite different from the original proven system. Everyone wants to tweak everyone else's system, because...
In the end you can ALWAYS improve systems, and the big companies are doing exactly that. Algorithms are constantly adapted
Also, most systems don't work in all market environments. Take THV for example, it rocks during trending markets, but isn't that great during ranging markets...but you can easily adapt the system to make it work in both cases.
You should always apply "Sig Sigma" rules to trading...as in: "always look for improvements".
Also, not that adding some indicators can often improve results drastically. For example, I added Fractal support/resistance lines to the THV system and it had a great effect on results, especially during ranging markets.
- #44
- Edited 11:29am Aug 21, 2012 11:17am | Edited 11:29am
- | Commercial User | Joined Dec 2010 | 1,135 Posts
No longer trading forex. Looking for full time job.
- #46
- Aug 21, 2012 11:51am Aug 21, 2012 11:51am
- | Joined Oct 2011 | Status: In your head, eating your brain | 2,562 Posts
Honestly, it doesn't take that long to spot check a system. Pick a random 3 months last year and 1 currency pair and run your backtest. If the system is somewhat complex and no EA's available you need to do it by hand, and yes, it will take some time...but at least that way you'll learn.
Won't take you long to figure out if the poster is full of s*** or not
Also, just because someone claims to be using system XYZ doesn't mean he's using it exactly as advertised...so in the end, unless you test it yourself you'll never really know if it works or not.
Laziness is hurting trading performance in the long run. You HAVE to do the work, no one will tell you "here's system XYZ, it'll net you 10%/mo if you follow the rules exactly". Well...they'll tell you that, but it won't be the truth. In the end YOU have to do the work.
I started out testing various systems and ended up liking the THV one best...but I added some parts of other systems, so while it's most similar to THV, it's really a modified version and my results might differ from the base system.
Cliff notes: Don't be lazy, run tests yourself...it's a great learning experience.
Won't take you long to figure out if the poster is full of s*** or not
Also, just because someone claims to be using system XYZ doesn't mean he's using it exactly as advertised...so in the end, unless you test it yourself you'll never really know if it works or not.
Laziness is hurting trading performance in the long run. You HAVE to do the work, no one will tell you "here's system XYZ, it'll net you 10%/mo if you follow the rules exactly". Well...they'll tell you that, but it won't be the truth. In the end YOU have to do the work.
I started out testing various systems and ended up liking the THV one best...but I added some parts of other systems, so while it's most similar to THV, it's really a modified version and my results might differ from the base system.
Cliff notes: Don't be lazy, run tests yourself...it's a great learning experience.
- #49
- Aug 21, 2012 12:28pm Aug 21, 2012 12:28pm
- | Commercial User | Joined Dec 2010 | 1,135 Posts
No longer trading forex. Looking for full time job.
- #52
- Aug 21, 2012 3:39pm Aug 21, 2012 3:39pm
- | Joined Oct 2011 | Status: In your head, eating your brain | 2,562 Posts
Dude I have back tested a lot, but in the stock markets, commodity markets etc.. i also have a programmer who works with me to make algos using C++ and we trade in Flex.
All I m trying to do here is trying to shortlist system(s) which I want to backtest and also share the results here. As I have already said I ll do that once I get enuff plus (+)'s for a particular system.
That doesn't only depend on how much time to trade you have, but also your mentality. There's people who excel at short term trading on the 5min charts...others can't handle the pressure and prefer to trade of the 4hr charts no matter how good the other system is.
Of course if you use algos then that doesn't matter at all. The problem then becomes pinning down what the system really is.
For example, most of those threads are dozens (or hundreds!) of pages long and the system evolved along the way. Often there's also various versions of a system. The Trading Made Simple strategy and EA is an example of that.
What you then get is dozens of people using variously modified systems with different parameters. So a system might be good and bad at the same time depending on parameters and variation you use.
Also, it should be more like "which are your favorite trading systems?" because often a system that works under certain conditions (trending market for example) would be better replaced by another if conditions change (ranging). Or you change parameters.
So just linking to a system or "vouching" for it by linking results isn't all that helpful to be honest...
By the way, I think reading entire threads of systems that initially sound interesting is a great learning experience. You get to figure out how people fared with it, and what changed over time and why. Very rarely do people seem to post a strategy only to then never change anything throughout the thread. That change isn't always for the better btw
PS: I think some people linked their stats in the original THV (and Pipware) threads.
- #53
- Aug 22, 2012 2:15am Aug 22, 2012 2:15am
- Joined Oct 2007 | Status: Former institutional dogsbody | 1,253 Posts
But every trader needs at least the following things to succeed:
1). An edge which can be achieve by a method/trading system.
2). A conviction in a certain method which gives DISCIPLINE.
3). Hard work to master ur method with discipline.
So in all this noise all I wanted to do was to separate the systems which r known to have an edge from those which dont.
I mean, you can teach a trader a method or a system, but I don't think you can teach another trader the same "edge" that guides your trigger.
Of course, I could be wrong!
And I can chalk that up to my "limited" experience in coaching... 
So I needed the experienced traders to name their systems so that a trader does not waste his many months and money on some approach which at the end of the day has no permanent edge.
Trading with these methods profitably or not will depend on trader to trader at the end of the day.
I'm not trying to convince anyone. I'm not in the "convincing" business.
I believe you're assuming that one person's "edge" can be independently verified by someone else using independently-obtained price data. I can't put my finger on it, but on an intuitive level, I don't believe "edge" can be taught or even accurately described by one trader to another.
I mean, you can teach a trader a method or a system, but I don't think you can teach another trader the same "edge" that guides your trigger.
Of course, I could be wrong!
In...
Pls can u refrain from saying a lot of bullshit.
- #55
- Aug 23, 2012 2:27am Aug 23, 2012 2:27am
- | Commercial User | Joined Dec 2010 | 1,135 Posts
No longer trading forex. Looking for full time job.
- #56
- Aug 23, 2012 4:14am Aug 23, 2012 4:14am
- Joined Oct 2007 | Status: Former institutional dogsbody | 1,253 Posts
Pls can u refrain from saying a lot of bullshit.
I suppose, as the thread starter, you felt otherwise, and I respect that.
For what it's worth, in the spirit of answering your original question:
My fav system is Stairstep Breakouts and "Trading in the Buff"
I will leave this thread if you wish and I wish you well in your search for a system.
I'm not trying to convince anyone. I'm not in the "convincing" business.
