My Own Made Trading System
that is a smart system.. thank you
Nothing wrong with it Unreal if it works for you. Only you will know that.
this good only know this
The points you included are good and will work as well.
Every trading system is good for developer only. Every trader must create its own trading strategy that will follow his requirements and money/risk management, besides it must be allowed by trader's broker. And if it even extra-profitable, it doesn't mean that such profits can get anyone else except creator of it.
Every trading system is good for developer only. Every trader must create its own trading strategy that will follow his requirements and money/risk management, besides it must be allowed by trader's broker. And if it even extra-profitable, it doesn't mean that such profits can get anyone else except creator of it.
agree with you
you should input different strategies in your trading system, i have good idea for you that will send in pm.
I have been looking for a winner for years. My experience coding EAs for MQL4 has taught me to be very suspect of anybody touting their "system" as a guaranteed winner. To actually win at Forex from the retail level (most all of us I'm sure) you have to change your thinking. One way to develop a winning method is to spend years trading until you learn all the subtleties of each of the currency pairs, become intimate with support/resistance in all its forms (i.e. Fibo, Pivot Points, etc.), recognize candlestick patterns, and sit and watch price action for hours on end.
I don't know if it was out of frustration or insight but what I am trying now, with some success, is to take advantage of what I am certain about the markets.
About 2 years ago I was still trying to find the $97 Holy Grail (why I was so naive to imagine somebody would sell me an EA that would make $1000s for $97 is still a mystery to me). An EA was being touted as 100% successful. To make a long story short, the developers essentially would not close any trade that was losing money. Drawdown be damned, the trade stayed open until the market swung back to where the trade was in profit. Ah! martingale systems. Anyway, I got my Clickbank refund after informing the developers that I didn't need an EA to do what a coin toss could accomplish if drawdown wasn't a consideration. I only had to wait for the market to swing in my hoped for direction.
I put this away in the back of my thinking until it occurred to me that the strategy wasn't the problem ... it was the ability to endure the drawdown. If I could handle any drawdown I could keep trades open until they showed a profit. If I limited that to a small profit it would happen even quicker. So that's what I did. Using the 1M timeframe on currency pairs with the least spread I would make my best guess as to which way the market was moving and enter a BUY/SELL trade accordingly with 0.1 lots. Yeah, I know. This puppy isn't going to make a lot of money. That wasn't what I was trying to find out. So far I have about 30 winning trades ... in a row. They would have all been winners if I had paid more attention to the trailing stops I was using to exit the trades. On a few occasions the TS was smaller than spread and I would have a 1 or 2 pip loss. If this stetch of winners continues, I will code an EA and let it run 24/7 making certain there are trades open continuously on 3-4 pairs. The question is how much drawdown can you endure and wait for the market to return. So far, every trade has returned and I settle for a small profit. I started this in a mini live account and the drawdown went as high as 30% but it always came back.
I take all of this as confirmation that you need to play like the banks and market makers if you expect to make big bucks and I can't do that. I don't mind making small profits ... as long as I can do it all the time.
So you're saying that I can make a trading system myself? Like for real?
And I can find the tips on this forum? So what do you gain from this? There must be some profit for you.
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Hi,
I hope someone more experienced can guide me to constructing a decent simple trading system.
I am an intra-day trader mostly trading 15 min timeframes on the Eur/Usd only. I look at the swissy and cable for correlations only.
My main trading analysis is based on previous supply and demand zones on the 4/1/30 min timeframes I look for confluences.
I go with the trend always. I use a point based rating system which I base my risk to reward ratio on. The more evidence I have to enter a trade the more I risk but no more than 3% of total account. I look for 2 profit levels 1 at 20 points and 2nd at 40 points moving my stop to breakeven after 20 points as capital preservation is my number 1 goal even if it takes longer to become profitable.
I wait for a rally in price and wait for a double top/bottom enter on a retest of the high/low's at the necklines and look for candlestick formations. I use Fibonacci cluster zones from the W/D/4/1 and also pivot clusters I increase/lower my risk when I see weekly or monthly pivots approaching price.
I use the 5 min chart to get a more precise entry/exit/stop price and warning for the 15 min timeframe. I use the 1/4 for the current trend look at the last few candle bars.
My arsenal of tools are: harmonics ABCD, Psychological Levels RSI, MACD, MA's, Trend lines, Pin Bar Reversals, Bolly Bands, Alligator.
I also use a couple other systems within my own strategy if they confirm if I add them on if they don’t I leave them. I use the Pip Accumulator with trend probability, Siddus System, SRS Trend Rider and Ultra Trend line system as extras.
I do not clog my chart up with all these indicators and price action points but keep them separate to make it naked as possible.
Personally, I like the idea of going total naked using support and resistance only, but it makes me shiver that I haven't done my analysis properly I am comfortable on the idea that there is a confluence/cluster zones rather than only S&R zones.
The only areas that I feel I can improve on is moving to the 4 hour charts I would like to, but I can't wait that long I would rather be stopped out in 1 hour than waiting 4 hours for a winner sorry but that's me.
I am reading as much as I can about price action and watching tutorials learning new things, but I am at my wits end about to pack it all in as it’s not working for some reason yet I have a glimmer of hope as my account is not blown up yet. I do get burnt out on most days with information tried to take a back step but trading is far too attractive to stay away the computer for a few days.
If anyone can add or erase anything that you feel will help my system feel free too as I am out of ideas.
Thanks for reading.