Impossible to predict the future

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sshhmmuueell
141
sshhmmuueell  

Hi everybody

I am beginning to think its impossible to predict the future so I thought of a new system and would like to hear your two cents

On the daily

Find three or four currencies with the lowest spread

Buy or sell them It really doesn't matter \

Put a 15 pt stop loss on each one

Check them once a day

After three days take your profits and hope it is more then your losses

Erman Ardianto
1144
Erman Ardianto  
swall:
Hi everybody

I am beginning to think its impossible to predict the future so I thought of a new system and would like to hear your two cents

On the daily

Find three or four currencies with the lowest spread

Buy or sell them It really doesn't matter \

Put a 15 pt stop loss on each one

Check them once a day

After three days take your profits and hope it is more then your losses

Sounds like gambling. Have you ever try it?

mmccormac
63
mmccormac  

Roll the dice, close you're eyes... And BANG you loose!

swall:
Hi everybody

I am beginning to think its impossible to predict the future so I thought of a new system and would like to hear your two cents

On the daily

Find three or four currencies with the lowest spread

Buy or sell them It really doesn't matter \

Put a 15 pt stop loss on each one

Check them once a day

After three days take your profits and hope it is more then your losses

The title I gave this post will sum it up...

sshhmmuueell
141
sshhmmuueell  

No

I think this is a way to cut you losses and let your winners ride

Erman Ardianto
1144
Erman Ardianto  
swall:
No I think this is a way to cut you losses and let your winners ride

Gambler won't win anything

Amritendu Maji
1446
Amritendu Maji  

An idea worth trying. However, the stop is too tight. If you are looking to keep a trade open 72 hours, you should look at the 4 hour and daily trading ranges. Your stop should be adjusted based on those values.

mmccormac
63
mmccormac  

If you like the idea of just placing trades to see what will happen then I would look up "grid trading". If you follow the methods outlined it will help you with direction in this method you are talking about. This method does not suit me but some people are very successful with it.

If trading was so easy that you could place random orders and still make profit then we would all be rich... That's why the casino's always win. They have a strategy layed out that will benifit them not the customer. Develop an edge an you have a chance. Without one you will blow your account. Just my opinion though.

PS. By the way thanks for that beginning post... I haven't laughed that hard for a very long time!

drg00dvibe
589
drg00dvibe  

Yes it's impossible to tell the future.. Trading, like professional gambling is all about probabalities.. it's a numbers game. That is all.

superbait
42
superbait  
swall:
Hi everybody

I am beginning to think its impossible to predict the future so I thought of a new system and would like to hear your two cents

On the daily

Find three or four currencies with the lowest spread

Buy or sell them It really doesn't matter \

Put a 15 pt stop loss on each one

Check them once a day

After three days take your profits and hope it is more then your losses

I won't criticise your idea except you may know little about the market environment. There are four basic market conditions, namely trendy, choppy, range bouncing and flat.

In trendy market, you win if you choose the right trend, so your winning chances is 50%. In choppy market, your chances of winning is 0%.

In rang bouncing market, your chances of winning is also 0% and in the flat market condition, the little spike for up and down could range between 5 to 30 pips, so eventually your chances of winning is 0%.

Hence in total your chances of winning under the 4 market conditions is about 12.5% and losing chances is 87.5%. The winnign factor is 0.125 far below the 1.5 ( the norm factor ).

et_phonehome_2
1387
et_phonehome_2  
swall:
Hi everybody

I am beginning to think its impossible to predict the future so I thought of a new system and would like to hear your two cents

On the daily

Find three or four currencies with the lowest spread

Buy or sell them It really doesn't matter \

Put a 15 pt stop loss on each one

Check them once a day

After three days take your profits and hope it is more then your losses

I feel that I must give you my two cents worth on this since putting a SL of 15 PIPs will definitely kill you, and you will wind up with more losers than winners. I Know that you want to minimize your losses, but having such small S/L will not help you. No matter what, you will need to look at the chart inidcators from the top down TF to see the direction to get a good feel as to which way you should go. I have even putted in S/L of 50 PIPs, get stopped out, and then just to see the currency move in my direction latter on during the day. I find that the most important thing which will help you is to use Pivot Points to see where the current price action is....

Hope that helps....

ccjjaa
2036
ccjjaa  

Predicting the future

Try using Murrey Maths - that is the closest you will ever get to predicting the future price direction - that and plenty of experience

123
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