It is a tool to look at, but it should be out there something more powerful.
We shoul keep working on that.
How about Fib levels .. off the last move ? Maybe exit within the Fib level just to keep it conservative
Yes, Fib levels are another tool. I use Fibo Pivots.
StepSto_v1 is the best I've seen so far for exits along with Stochastic. We should keep searching.
As said, I'll be in Banda Aceh (Indonesia) from Monday to the 28ht.
I wish you all Merry Christmas and good luck.
I know we are testing the potenciality of this easy system. So all the profits are hypothetical.
Ok, do you want to reduce them to 25% of weekly total posted? Go ahead:
How many retail forex traders make that amount of pips per week?
Of course, if you trade minis -which is a waste of time and money- and divide those pips by the number of hours you spend looking at your screen(s), you'll become an indigent soon.
What has been proved is that you should be able to make at least 10 pips out of 90-95% of your trades.
But, anyway, as I'm not a seller, I only try to show you that, if you want to make money trading FOREX, you do not need to complicate anything.
Now, I think, we need to try to find the best way to exit with the maximum of pips. So you are welcome.
I really wish you luck. I myself do those profits consistently. But, I really would love to see you do those types of profits on a real account yourself. Backtesting and emotion free demo trading will give you those results all the time. Even live demo trading would be an improvment rather then constant daily backtesting. If you can, post some more statements of actual trades. You will probably see a difference in your profits right of the bat.
Another thing I wanted to comment on. You refer to mini accounts, and smaller accounts, as a waste of time. I think you are highly mistaken. When I first started tradind I turned a mini from 1000 to 7200 in about 4 months. This wasnt very good, but nonetheless, it taught me many things. My first real account was funded by investors and was 30,000. That is a rather large sum of money in any place in the world. But even trading a dollar a pip, at 250 pips a week, that is extremely successful. If you compound weekly, your profits come out to thousands upon thousands in months. Now I trade with a rather large account, typicall orders between 7 and 10 lots at a time.
I hope this strategy works for you as it has been in your backtesting. You seem to be a little to excited though. I really doubt your going to be ending eith these profits but Im more then apologetic when someone proves me wrong.
Trading doesnt have to be complicated, you are correct. But, generally if trading were a walk in the park there wouldnt be as many people losing money as there are. This system itself is very basic. A little to basic. This system has been tried by many other in the past. Most have failed. The basic concept will fail, its almost a guarentee. But, with proper filters and rules, you might be successful.
To sum it up, there is alot of "maybes" and "probablys" with this type of system. I think you might be blinded by the light, so to speak. I wish you all the success and profits in the world, but I hope you take this strategy with a grain of salt. Instead of backtesting and looking for signals and trying to prove the signals work. Try one day to prove your signals wrong. Thats were you figure the weaknesses of a system.
May the pips fall from the heavens and land in your account.
Step by step:
I'm not doing this for fun like those funny threads on Moneytec that say:
"20000 in one day". I'm a part time trader. I improve my incomes trading FOREX. I do trade live. But I agree with you, there is a big difference when you demo trade.
I'm really happy to know you turned a mini from 1000 to 7200 about 4 months. 98% of the mates get a margin call. Congratulations.
My real account is funded by investors and it has much more than 30,000. That's why I say that I trade almost always wit 5 lots and I can go till 20 lots if I need it. Just a detail: my broker is UBS.
It does, it really does. I'm not excited at all.
Yes, you are right. This system itself is very basic. I want it to be like this: easy. If it fails, I'll switch to another one. Proper filter rules: right.
I have posted wrong entries.
I'm taking this strategy not with a grain of salt but tons.
Thank you for your words.
Congratulations Nina for all your posts in this forum.
And thank you!
Even it is basic; it is very effective... I do not think that it will fail with proper money management... I am using it for several years like Nina; but I use HMA 21 (Alan Hull's Moving Average - with color) -- with a support of 3D Rainbow Chart...
Thanks for all the posts Nina...
Thanks for sharing, in what way do you utilize the HMA and what do you mean by 3D Rainbow Chart? Thanks again.
Is this the same as your HMA :
Do you have an mq4 indicator for MetaTrader ?
I think it would be beneficial to all if you could explain in detail how you use your method as you seem to be confirming that the strategy works and has worked over a long period of time. Perhaps you could post a chart for us ?
thankyou for helping