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One Way to Develop a Winning System

  • #81
  • Mar 3, 2016 10:47am Mar 3, 2016 10:47am
Quoting goldtime
{quote} Sir it seems Your works are very complicated but it looks there is hope. thanks
Yes there is always hope, but what about faith and charity?

This thread was started in 2007 and while I think the fundamentals for single system creation are still valid, I'm not convinced anymore that a single strategy can give a trader consistent results. I instead stress that diversification and trading many systems together can give much more consistency. A very approachable discussion with many examples that should be achievable by any who are willing to do the work:
Diversified Trend Trading

And a to take this idea further into auto-creating strategies for those with the coding skills and time to burn:
Systematic Trading
  • #82
  • Edited 11:24am Mar 3, 2016 11:12am | Edited 11:24am
Quoting FXEZ
{quote} Yes there is always hope, but what about faith and charity? This thread was started in 2007 and while I think the fundamentals for single system creation are still valid, I'm not convinced anymore that a single strategy can give a trader consistent results. I instead stress that diversification and trading many systems together can give much more consistency. A very approachable discussion with many examples that should be achievable by any who are willing to do the work: Diversified...
thanks Sir.

faith is action, charity and love are the form of faith
today i wonder if we can actually make money from forex.
or we all actually play gambling.
none of the system can give consistency except guessing this and that.


how to have a private talk with You Sir ?
thank You
  • #83
  • Mar 3, 2016 1:36pm Mar 3, 2016 1:36pm
Quoting goldtime
{quote} thanks Sir. faith is action, charity and love are the form of faith today i wonder if we can actually make money from forex. or we all actually play gambling. none of the system can give consistency except guessing this and that. how to have a private talk with You Sir ? thank You
Hi, why not just post here in the thread and if it is of interest I'll respond here. If it really is private I likely won't be able to help anyway. PM is off due to lack of time.
  • #84
  • Edited 6:30pm Mar 3, 2016 1:45pm | Edited 6:30pm
Quoting FXEZ
{quote} Hi, why not just post here in the thread and if it is of interest I'll respond here. If it really is private I likely won't be able to help anyway. PM is off due to lack of time.
i guess You might tell me to read and study materials, but i have no that luxury
thank You
  • #85
  • Mar 3, 2016 3:43pm Mar 3, 2016 3:43pm
Quoting goldtime
{quote} i wonder if You could save me from disaster. i wonder if You have the reliable system with consistency, would You like to share ? i guess You might tell me to read and study materials, but i have no that luxury, i need to defend my last resources with limited resources in the short time. thank You
I feel for you but don't think I or anyone else can save you from disaster. Only the person who put you in disaster can do that. Many of us (including me) have been there and done that. There is life after this, never forget.

If manual trading isn't working out I'd suggest to stop doing it. You might try systematic trading, i.e., developing trading systems but that can take a great deal of time and requires an analytical ability that not all have, and isn't a rescue for your current dilemma. If the analytical exercise of system development isn't in your wheelhouse I'd suggest taking what funds you have left out of the markets and preserving those funds for yourself / your family, and being happy with avoiding total disaster.

Note that the sunk cost cognitive bias will tell you that pulling out now will be worse than staying in and losing everything, because you've already invested so much in getting to this point. Not many people can overcome that bias but logic should tell us that $10 is better than $0.
  • #86
  • Mar 3, 2016 6:29pm Mar 3, 2016 6:29pm
Quoting FXEZ
{quote} I feel for you but don't think I or anyone else can save you from disaster. Only the person who put you in disaster can do that. Many of us (including me) have been there and done that. There is life after this, never forget. If manual trading isn't working out I'd suggest to stop doing it. You might try systematic trading, i.e., developing trading systems but that can take a great deal of time and requires an analytical ability that not all have, and isn't a rescue for your current dilemma. If the analytical exercise ofhan system development...
thanks for the advice Sir, take care
  • #87
  • Last Post: Mar 4, 2016 6:54am Mar 4, 2016 6:54am
Quoting FXEZ
I'm not convinced anymore that a single strategy can give a trader consistent results. I instead stress that diversification and trading many systems together can give much more consistency.
No need to feel bad, even professional funds that manage billions and billions of dollars don't produce consistent returns either.
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