What Holy Grail really means in Forex?(Need experienced traders comment)

ÂÂ
Yes there is. And more than one.Â
I have one hanging around.ÂSimple black &white logic.
Â
Sadly, I'm too weak to implement it fully. And to follow. Emotions get in the way....
But testing it for couple of years. On paper nice results.
ÂÂ
All arguments above are pointless - people generally lose money. Who gets it - banks and skilled traders. Will anyone just hand out his grail??? Yeah sure.
What you don't know doesn't exist???
ÂÂ
Right now I'm getting annoyed of work etc and may get serious on my Grail. Will write EA for testing, though i know it's good. That's actually my setback - if i do test it and confirm my estimate of over 2500 pips a year - i have to kick my ass really hard for laziness. Or if someone steals it....
I'm working now on a separate account - but get distracted or scared... Then curse myself. It's that accurate. Â i put some improvements months ago.Â
Then the problems of setting up a new computer, couple more accounts. No VPS ofcourse 
Â
So i think I'll get it formal and tested, add few dollars in my account, quit job etc. But it's the big change that's something scary...work...life....so postponing it Stupid.... I could have made thousands.Â
Â
Eventually I'll stop wasting time.... Will post few reports when backtest....Go to a tropical island..... And you may never hear again of it 
Â
I bet many others discovered their grail and keep it secret. Anyone share his?? Nope.Â

Here, Holy Grail!

http://www.forexfactory.com/showthread.php?t=611999

Not-KPMG you simply don't understand the meaning of 'Holy Grail'.

It's not just any system that produces a profit...

And if you think you have a system that can be put into an EA and make money long term, you are almost certainly mistaken.

The world is full of beginner traders who've never made any money and yet think they will make a living at trading.

The point you don't understand is that market conditions change and no one system (or EA) can make a consistent profit long term.

A successful trader does not mindlessly repeat his method year after year, he modifies it regularly...

The idea that there are people out there keeping the holy grail of trading secret isn't true.

The nearest thing is High Frequency trading done using sophisticated software that detects big institutional trades and uses clever algorithms to place a trade microseconds in front of it. But that's simply not possible for the average person and it's not even proper trading.

.

LOL, this simply shows indicators that are on most MT4s and like all indicators, they show what has happened, not what is going to happen. They've been around for over ten years.

I've tested this and although it's useful, it only shows when an instrument has been strongly rising or falling, which is no indication that it will continue to do so. In fact, if an instrument has been rising so strongly that all the indicators reflect this, it has probably run it's course and is due for a retrace.

A Holy Grail cannot really exist because if everyone had it, where would the losing traders come from to supply the winnings? There have to be losers to pay the winners...

.

The holy grail is actually quite simple. Doesn't matter what time period you trade. I simply trade price action and by looking at the charts:

1. When there is no opportunity, do nothing. Don't go looking for something that isn't there.
2. When you see a trade you like, set clear rules about your trade (why you took the trade, what would invalidate that reason, trade size, profit target, SL) and confirm that the trade looks reasonable based on these rules.
3. Place 1 trade. Do not add on later if it goes against you.
4. Most importantly...BAIL THE SECOND YOUR REASON FOR ENTERING A TRADE CHANGES. Do not hold on to your position hoping it will turn around. Do not loot at higher time frames to justify holding onto the position. Do not look for reasons to keep the trade. Take the small loss and move on.
5. As for closing the trade, some people have a hard target and others are more flexible (they will move the TP around based on market conditions, close the trade regardless of the price before the market close / economic release, or some more conservative traders will close the trade the moment a contrary signal appears).

That really is it. Even for new traders, you may be wrong a majority of the time, but if you cut your losses small and let your correct trades run...you can be profitable. And obviously, with time you will get better at spotting winning trades.

The reason people lose so much is they don't want to admit they are wrong and will keep on to their losing positions (I used to do that too). Don't. You can always reenter the trade later. And trust me, if you day trade, you won't remember how much you lost or what price you bought/sold it at after a couple of days (certainly not after a week) unless it is a big win/loss. Take the loss and live on to trade another day.

I suppose "Holy Grail" could have a couple meanings with regard to trading. It could mean a system that wins for anyone who uses it. I don't think that sort of holy grail exists. No two traders trade exactly alike. But it could mean a system that you could trade for a consistent profit. I know of many people who have found a system that works for them personally. Usually that takes many years of study and refinement. Typically, they build upon the ideas of those who came before them. So, my advice is to study what others do, but develop something that works for you. Take a hint from someone who's been down that road and trade in demo until you are consistently profitable. Don't be surprised if that takes 10 years of solid work. That's what it took for me and I'm just an average guy. -G

There cannot be more than one Holy Grail! It's called THE Holy Grail because only one exists and has never been found!

In terms of trading, it means the ultimate system that always produces a profit in all conditions, long term.

And such a method does not and never will exist.

Many people think they have found it but when conditions change (as they always do), it blows the account...


.

I won't consider myself as newbies but not really profitable traders as well. That's why I try to find a system that is less dependable on discretion because I don't really trust my experience or intuition yet.