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All Indicators Trading system

  • #801
  • Oct 31, 2012 11:57am Oct 31, 2012 11:57am
Hi tafa. I must say you are doing way better that you were before. you do set stop loss. The point is that your risk is still too high. you risk 5% sometimes, which is still a lot. try to lower down your risk down to 1% by lowering position size. It will be less painful for you. Besides hesitating means loosing. Once your indicators tell you to get in position - do it, do not hesitate, just do it.

one more thing. I have a feeling that you didn't test your system properly. You have one 10-20% or 1000% profit and just by this one you judge that system will do - "yes, this is it". think that this 1000% profit could be just luck, nothing else. after at least 100 trades you can say anything about system's reliability, you can see how much profit it gives over certain period, you can say what is the ratio between win and loose, and as you're daytrader the 100 is an absolute minimum, and it must be done on low budget account or on demo.

you remember when I told you to read some of the books from my list? you keep loosing money, you could actually have a library of books about forex by now. spend them 50 quid on 2-3 books, read them, it opens mind
On my way to financial independence - if others can do it - I can do it
  • #802
  • Oct 31, 2012 12:15pm Oct 31, 2012 12:15pm
Quoting kokopelli
Is this the beginning of the end, again? Only you seem to be able to produce the almost perfect inverse curve.

In the last dozen or so trades, have you been religiously setting stop loss and taking them?

If your answer to this question is "yes," then my friend, you are a lot closer to being a great trader than you think.
The answer is yes , and you are right I am on the road to glory.I am religiously following my system
  • #803
  • Oct 31, 2012 12:16pm Oct 31, 2012 12:16pm
Quoting tafadzwa02
The answer is yes , and you are right I am on the road to glory.I am religiously following my system
Look out for my PM...
  • #804
  • Oct 31, 2012 12:18pm Oct 31, 2012 12:18pm
Quoting Eur Usd
Hi tafa. I must say you are doing way better that you were before. you do set stop loss. The point is that your risk is still too high. you risk 5% sometimes, which is still a lot. try to lower down your risk down to 1% by lowering position size. It will be less painful for you. Besides hesitating means loosing. Once your indicators tell you to get in position - do it, do not hesitate, just do it.

one more thing. I have a feeling that you didn't test your system properly. You have one 10-20% or 1000% profit and just by this one you judge that...
I honestly did a 3 year analysis and it proved to be very profitable , about 50pips per week , avarage .Remember that spreadsheet I attached the other day with 2009 records?
  • #805
  • Oct 31, 2012 2:55pm Oct 31, 2012 2:55pm
Quoting tafadzwa02
I honestly did a 3 year analysis and it proved to be very profitable , about 50pips per week , avarage .Remember that spreadsheet I attached the other day with 2009 records?

you did analysis, not test of your system. it's not the same.
On my way to financial independence - if others can do it - I can do it
  • #806
  • Nov 2, 2012 5:59am Nov 2, 2012 5:59am
I had to go in with £7 per pip .This is a banker , textbook , one in a month trade with 30 pip stop and 40 pip take profit.
There is absolutely no way this is going to be a loser.That's my last trade for the week
  • #807
  • Nov 2, 2012 6:52am Nov 2, 2012 6:52am
what indicator told you this?
On my way to financial independence - if others can do it - I can do it
  • #808
  • Nov 2, 2012 7:40am Nov 2, 2012 7:40am
Quoting Eur Usd
what indicator told you this?
8th signal on this pair it cant go wrong
  • #809
  • Nov 2, 2012 8:06am Nov 2, 2012 8:06am
it already went wrong. you lost 57%!!!!!!!!!. for me it looked still like time for short, and you went long.
edit: you actually lost 85%, sorry to hear it mate.
On my way to financial independence - if others can do it - I can do it
  • #810
  • Nov 2, 2012 8:16am Nov 2, 2012 8:16am
Quoting Eur Usd
it already went wrong. you lost 57%!!!!!!!!!. for me it looked still like time for short, and you went long.
I just cannot believe this
  • #811
  • Nov 2, 2012 8:19am Nov 2, 2012 8:19am
that's why I ALWAYS stick to max 2% risk, 1% most of the time.

market is hard to predict especially on fridays
On my way to financial independence - if others can do it - I can do it
  • #812
  • Nov 2, 2012 8:19am Nov 2, 2012 8:19am
People don't make money with this thing.It's a waste of time and money
  • #813
  • Nov 2, 2012 8:21am Nov 2, 2012 8:21am
Quoting tafadzwa02
People don't make money with this thing.It's a waste of time and money
they do. take a rest and take my advices I wrote you before
On my way to financial independence - if others can do it - I can do it
  • #814
  • Nov 2, 2012 8:22am Nov 2, 2012 8:22am
Quoting Eur Usd
they do. take a rest and take my advices I wrote you before
Tell me one good reason why I should take advice from someone who is not winning?
  • #815
  • Nov 2, 2012 8:27am Nov 2, 2012 8:27am
Quoting tafadzwa02
Tell me one good reason why I should take advice from someone who is not winning?
maybe not winning but not loosing as much as you ;-)

spend some cash on books, stick to hard stop loss, and don't believe 100% sure indicator exists

besides you see my account now. I trade ONLY when I am at home. now I am at work, so I stay away from markets even if I spot opportunity.
Monday Tuesday and Wednesday next week I'll be trading.
On my way to financial independence - if others can do it - I can do it
  • #816
  • Nov 2, 2012 8:39am Nov 2, 2012 8:39am
Quoting Eur Usd
maybe not winning but not loosing as much as you ;-)

spend some cash on books, stick to hard stop loss, and don't believe 100% sure indicator exists

besides you see my account now. I trade ONLY when I am at home. now I am at work, so I stay away from markets even if I spot opportunity.
Monday Tuesday and Wednesday next week I'll be trading.
Good luck mate , I really wish you well.I am out .I might return after Xmas.I don't want my Xmas to be spoiled.
  • #817
  • Nov 2, 2012 8:58am Nov 2, 2012 8:58am
Quoting tafadzwa02
Good luck mate , I really wish you well.I am out .I might return after Xmas.I don't want my Xmas to be spoiled.
you're right, you need to rest. once you come back to it start from trading demo for 3 months
On my way to financial independence - if others can do it - I can do it
  • #818
  • Nov 2, 2012 11:54am Nov 2, 2012 11:54am
Quoting tafadzwa02
People don't make money with this thing.It's a waste of time and money
In general, this is a correct statement because "people," as in most of the people, as in 90+% of the people trading forex don't make money. But forex trading is a zero-sum game. Where do you think the top 5-10% got their profit from???
  • #819
  • Nov 2, 2012 11:59am Nov 2, 2012 11:59am
Quoting tafadzwa02
Tell me one good reason why I should take advice from someone who is not winning?
I need to jump in and defend Eur Usd here even though I've been tough on him.
Fibre is not giving you trading signals or trading system so you can't use the reason that he's not profitable. He's just giving you general trading strategies and observations, which have been spot on!!!
  • #820
  • Nov 2, 2012 4:32pm Nov 2, 2012 4:32pm
Quoting kokopelli
I need to jump in and defend Eur Usd here even though I've been tough on him.
Fibre is not giving you trading signals or trading system so you can't use the reason that he's not profitable. He's just giving you general trading strategies and observations, which have been spot on!!!
Them general rules I got from books I have read. It would take me much much longer to get to them ideas on my own. Why I am not profitable? because I am impatient. I am like tafa. I want my prize now.... and then falling down is painful.
This time I told myself it's last time. I have to stick to rules. Always. For example as it is presidents elections in states it was easy to predict movement of EUR/USD down. But I have a rule: I trade only from home. I was at work today. And even now when I know I was right about the movement I am glad I didn't get into trade in my old fashion way (no stop loss, and 100% of account invested - at 20 pips movement it was giving me 7% profit, and this strategy was working. but It won;t work all the time), and I am glad I didn;t get into trade at all, as then I would break my rules. And I need to stick to the rules. Sometimes even with this silly 25quid account I am tempted to do a bet, not a trade, a bet, a bet on silver which in case of movement will give me 100% profit fast. But it may as well go opposite direction, so why risking? I don;t have glass ball, I never had. If you have few good trades in a row trading this way, it only means you had luck, nothing else.
If you have account with at least 100 trades behind and you can see profit, when you have proper risk management, proper position size with s/l adjusted adequately to amount of pips you want to loose and percentage you want to loose per trade, then you can say you have good system.

having 3 100% profit trades in a row on the beginning of trading new system tells you nothing. means only that you will loose 100% as fast as you can gain 100%. it doesn't mean it's good system, it means that the luck won't be on your side forever. and you need to count on yourself, not on luck.

patience, knowledge, discipline
On my way to financial independence - if others can do it - I can do it
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