Just a question on the alert system. Does it alert me on my mobile through my mobile phone MT4 App?
- #42
- Jun 24, 2014 4:17am Jun 24, 2014 4:17am
- Joined Oct 2013 | Status: Forex Shaman | 1,468 Posts
"There's a sucker born every minute" - P.T. Barnum
- #43
- Jun 24, 2014 4:18am Jun 24, 2014 4:18am
- Joined Oct 2013 | Status: Forex Shaman | 1,468 Posts
"There's a sucker born every minute" - P.T. Barnum
- #44
- Jun 24, 2014 10:03am Jun 24, 2014 10:03am
- Joined Oct 2013 | Status: Forex Shaman | 1,468 Posts
It is funny that most traders dont understand that the winrate alone doesnt matter.You can have a 99.99% winrate system and still lose all your money with it.
So the risk : reward ratio is the second most important factor in paralel with the winrate.And our RR is 2:1, the winrate if it is slightly better than random, then we will win.
And in my experience, the indicator is good, however the indicator is not the entire system.Please read post 1 to understand, we look at 5 day and 22 day average volatility, and the daily price movement.
Also i encourage you to look for fundamental signs aswell, the system can be profitable as technical only, but why not have better odds.
But only major news for example the chinese british currency pair which has just born, will add extra liquidity to the GPB pairs, so expect some ranging periods.
This information can be useful, just read the most major news.
And if you do this with the 2:1 method, volatility analysis, indicator and only trade in liquid hours with small spread, then only 1 thing left, which is risk management, if that is done too, then it is impossible to not be profitable.
Yet many traders are indisciplined and amateour when it comes to these principles, they only look for 100% accurate buy sell signals, which is very amateour, and doesnt exist, not even the big banks know the future price with that accuracy, and even if it would exist, some traders would still f*ck it up because they would overleverage themselves or similar
So the risk : reward ratio is the second most important factor in paralel with the winrate.And our RR is 2:1, the winrate if it is slightly better than random, then we will win.
And in my experience, the indicator is good, however the indicator is not the entire system.Please read post 1 to understand, we look at 5 day and 22 day average volatility, and the daily price movement.
Also i encourage you to look for fundamental signs aswell, the system can be profitable as technical only, but why not have better odds.
But only major news for example the chinese british currency pair which has just born, will add extra liquidity to the GPB pairs, so expect some ranging periods.
This information can be useful, just read the most major news.
And if you do this with the 2:1 method, volatility analysis, indicator and only trade in liquid hours with small spread, then only 1 thing left, which is risk management, if that is done too, then it is impossible to not be profitable.
Yet many traders are indisciplined and amateour when it comes to these principles, they only look for 100% accurate buy sell signals, which is very amateour, and doesnt exist, not even the big banks know the future price with that accuracy, and even if it would exist, some traders would still f*ck it up because they would overleverage themselves or similar
"There's a sucker born every minute" - P.T. Barnum
- #45
- Jun 24, 2014 6:03pm Jun 24, 2014 6:03pm
- | Additional Username | Joined Apr 2014 | 1,312 Posts
" and even if it would exist, some traders would still f*ck it up because they would overleverage themselves or similar " oh so true lol 
