5 years and still no strategy | Page 79 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

WRB/MC strategy:Coder needed to semi-automate my strategy 11 replies

strategy builder/tester for new scalping strategy 1 reply

Is opposite of losing strategy a winning strategy? 21 replies

After years in trading, do you still believe in get-rich-fast BS? 98 replies

Fozzy - still using after all these years 2 replies

Attachments: 5 years and still no strategy
Exit Attachments

5 years and still no strategy

  • #1,561
  • May 16, 2017 6:00am May 16, 2017 6:00am
Quoting Mingary
{quote} well simply because this: " For example, if the Asia range is very low, there is a good chance the London/European session will form a strong break out. " and a million other strategies are not reliable. Therefore random entries are no better, no worse than any entries coming from any strategy.
You are right, it is not reliable, especially in the hands of someone who is not an experienced trader.

Here are a couple of recent charts:

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd170510 m525.JPG Size: 42 KB


Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd170510 m546.JPG Size: 73 KB
Gone to a better place
  • #1,562
  • May 16, 2017 6:13am May 16, 2017 6:13am
Quoting Mingary
{quote} well simply because this: " For example, if the Asia range is very low, there is a good chance the London/European session will form a strong break out. " and a million other strategies are not reliable. Therefore random entries are no better, no worse than any entries coming from any strategy.
Your logic is flawed here. Not reliable = random entries are just as viable? I don't think so.
Gone to a better place
  • #1,563
  • May 16, 2017 6:14am May 16, 2017 6:14am
Quoting smikester
{quote}if the Asia range is very low, there is a good chance the London/European session will form a strong break out.

One could consider using this piece of information (with ideally some quantification behind very low and some stats behind strong) as a filter for sure-fire type strategy (ideally of a capped martingale persuasion, a.k.a the not-so-sure-fire strategy ).
Cheers,
k
  • #1,564
  • May 16, 2017 6:20am May 16, 2017 6:20am
Quoting smikester
{quote} Your logic is flawed here. Not reliable = random entries are just as viable? I don't think so.
Yes, I think so (:
There are no patterns, nothing, zero that are reliable in the time price series.
You may think that you are picking and choosing the correct pattern and carefully weighing in your entries according to some startegy but in the long run there is no edge in any pattern or strategy.
What is a lot more important is the exit not the entry (over a sample of trades)
  • #1,565
  • May 16, 2017 6:20am May 16, 2017 6:20am
Quoting kprsa
{quote} One could consider using this piece of information (with ideally some quantification behind very low) as a filter for sure-fire type strategy (ideally of a capped martingale persuasion). Cheers, k
Well, you should do your own calculations. Personally, I would never use any type of martingale strategy, but sometimes I will increase risk if I'm already in profit in a trend.
Gone to a better place
  • #1,566
  • May 16, 2017 6:32am May 16, 2017 6:32am
Quoting Mingary
{quote} Yes, I think so (: There are no patterns, nothing, zero that are reliable in the time price series. You may think that you are picking and choosing the correct pattern and carefully weighing in your entries according to some startegy but in the long run there is no edge in any pattern or strategy. What is a lot more important is the exit not the entry (over a sample of trades)
Really? I end this discussion here. I have better things to do than discuss the difference between reliability and probability with someone who, by their own admission does not know how to trade profitably. Not only that, someone who deems it impossible to trade forex profitably. Try telling Mr Soros.
Gone to a better place
  • #1,567
  • May 16, 2017 6:35am May 16, 2017 6:35am
Quoting smikester
{quote} Entries are extremely relevant...It is true that one can profit from random entries, but one can also lose from them. Why make it difficult by making stuff up?
I hope I can shed enough light for you to see the point of view.

Q. When do you know you entered at the wrong price &/ direction?
A. When you exit.

This means your entry at the point of entry was neutral (neither good/bad)...because you did not know the future.

What made it a great trade/loss was your exit.

Therefore entries are not exactly relevant in themselves...not having to bother about pinpoint entries does make things mighty easier I should also add.
  • #1,568
  • May 16, 2017 6:37am May 16, 2017 6:37am
Quoting sinqua
{quote} I hope I can shed enough light for you to see the point of view. Q. When do you know you entered at the wrong price &/ direction? A. When you exit. This means your entry at the point of entry was neutral (neither good/bad)...because you did not know the future. What made it a great trade/loss was your exit. Therefore entries are not exactly relevant in themselves...not having to bother about pinpoint entries does make things mighty easier I should also add.
Exactly ..
  • #1,569
  • May 16, 2017 6:38am May 16, 2017 6:38am
Quoting jmn5611
{quote} You might be surprised, but trading is 90% waiting. Plenty of time to be on the forums.


You can't say as just 90% of waiting, the main thing is how you behaving at that time period, and very powerful word i use Patience, instead of waiting.


Trading is The World Of Patience who have that quality will win in longer run.
Nothing is Perfect... Every Body is Right...
  • #1,570
  • Edited 8:13am May 16, 2017 6:39am | Edited 8:13am
Quoting smikester
{quote} Really? I end this discussion here. I have better things to do than discuss the difference between reliability and probability with someone who, by their own admission does not know how to trade profitably. Not only that, someone who deems it impossible to trade forex profitably. Try telling Mr Soros.
You can end the discussion if you want but you cannot put an end to statistical results.
Certainly a degree of reliability does lead to "some probability" (:
  • #1,571
  • May 16, 2017 6:41am May 16, 2017 6:41am
Quoting smikester
{quote} Well, you should do your own calculations. Personally, I would never use any type of martingale strategy, but sometimes I will increase risk if I'm already in profit in a trend.
I've got my own variation of the MIDAS system that I'm happy with.

Just pointing out the obvious pathways for the people that claim that no meaningful technical (or otherwise!) trading is possible.

In this thread alone - I think - a dozen or more strategies could be formed with what the senior traders have shared. Starting from candlesticks, indicators that measure kinematic properties of the price, pair strength, trapped traders, change of sentiment, to pure money management and fundamental trading. Really, despite occasional flaming between traders - apparently stuck in their ways and not understanding that there are more than one way to skin the cat - it is quite obvious that the proverbial cat is not a lion but merely a cute little kitten, and that this is one of the most useful threads to be read here.
(I'm actually surprised that the thread didn't end up in the Commercial section like the rest of the meaningful threads. )

Attached Image (click to enlarge)
Click to Enlarge Name: archange_-700x525.jpg Size: 69 KB


k
  • #1,572
  • May 16, 2017 7:18am May 16, 2017 7:18am
I'm not showing you exactly why or when I take a trade. I'm presenting ideas. I can't show everyone exactly how I do it, as I've worked hard to hone my skills. I'm presenting ideas, things to think about. It would be quite refreshing to here some of your thoughts and ideas about trading, as my mind is wide open and always craving knowledge....
  • #1,573
  • May 16, 2017 7:22am May 16, 2017 7:22am
Quoting jmn5611
{quote} It depends. As someone who is a student of students who are students of the market, I have learned quite a lot on this forum especially. For one, I do not do teaser posts like the one you just did. Are you trying to establish a following so you too can become an IB? I have seen lots of people who do that, and they usually like to tease newbies. {quote} Everyone here trades! Some trade insults. Some trade egos. Some trade stories. Some trade politics. Some trade indicators. Some trade price action tips. Some trade chart art. Some trade FX....
Why on earth would I want people to listen to ME? I want them to think for themselves. I just believe the journey is half the fun and if someone isn't profitable yet then they either need to keep searching or give up. There is a certain level of 'being ready' required that many people aren't. Sometimes I mislead, sometimes I'm scathing, sometimes I'm just looking for entertainment, and sometimes I'm incredibly helpful and reveal too much. What they do with what I give is up to them.
"The fun is in the hunt. Not the kill."
  • #1,574
  • May 16, 2017 7:25am May 16, 2017 7:25am
Quoting dkrock
{quote} Sounds like you need to write a business plan and establish working hours. Then make a list of daily goals so you can design a calendar to organize yourself.
Why on earth would I do that? It took me 10 years to realize that was what I needed to do before doing it. It worked far better than any business plan or daily goals would have(the idea of THAT working is laughable).
"The fun is in the hunt. Not the kill."
  • #1,575
  • May 16, 2017 7:40am May 16, 2017 7:40am
Quoting nealpek
I'm not showing you exactly why or when I take a trade. I'm presenting ideas. I can't show everyone exactly how I do it, as I've worked hard to hone my skills. I'm presenting ideas, things to think about. It would be quite refreshing to here some of your thoughts and ideas about trading, as my mind is wide open and always craving knowledge....
You already showed us. We know what pair that is, we know what timeframe that is, we know you want the market to go long, we know you recently went short(and to bed)... and we know you drew a third blue arrow. You pretty much just told us everything about how you trade. But; it's lacking.
"The fun is in the hunt. Not the kill."
  • #1,576
  • May 16, 2017 7:43am May 16, 2017 7:43am
Isn't it refreshing to know that simply trading 1 market can generate all of your income? No need to bounce from pair to pair if you don't want to....
  • #1,577
  • May 16, 2017 7:45am May 16, 2017 7:45am
Redeflect, are you in a trade now? What markets are you watching? Mistake, I don't WANT the market to go long or short. I let the market tell me what it wants to do....and then happily follow!
  • #1,578
  • May 16, 2017 7:49am May 16, 2017 7:49am
Quoting nealpek
Redeflect, are you in a trade now? What markets are you watching? Mistake, I don't WANT the market to go long or short. I let the market tell me what it wants to do....and then happily follow!
Tomato tomato. 'Want what the market wants'
"The fun is in the hunt. Not the kill."
  • #1,579
  • May 16, 2017 7:51am May 16, 2017 7:51am
Trading 1 pair is very limited. Every day there are strong and weak currencies through news and sentiment. If you trade just one pair you will often have days where your pair might have been a no show or range. Sure you can trade a range but why bother when you have larger potential taking place elsewhere. It's just a very limiting approach.
  • #1,580
  • May 16, 2017 7:58am May 16, 2017 7:58am
Quoting EcoTrader
Trading 1 pair is very limited. Every day there are strong and weak currencies through news and sentiment. If you trade just one pair you will often have days where your pair might have been a no show or range. Sure you can trade a range but why bother when you have larger potential taking place elsewhere. It's just a very limiting approach.
Didn't say that's what I do necessarily Just letting some noobs understand that looking at 4 or 5 markets, isn't necessary, and to learn to become proficient at 1 market before tackling others...
3 traders viewing now