Funny
dude.........I think I love you
well, I am longer at this fx thing than 98% of you (and I do this for a living), I have seen it and tried it all, so take my honest advice, you are on the wrong track.
Only people who use boxes profitably are pros that use them to automate their discretionary trading. Translated, if they weren't profitable per se in the first place, boxes would not do them any good.
master
you guys are so funny
You think that by using black boxes you will take money form those less than 10% traders who actually make money constantly. You are really optimists 
I read about hundereds and thousands of pips monthly. Well, it's really amusing.
Don't you realise here how much time do you spend to endlessly tweak those systems. It's too much work instead of less work. If those systems were something, banks would buy them all and keep all the money for themselves.
I can see that most systems can work in trend periods but are hopeless during consolidation. Well, 5 year old can trade profitably during trend period, you don't need box for that.
I do not mean to deluge you, but better start learning one step after another. Slowly but steady. This is only path to success in this business. When you finally master, earning will be much simpler than by using any box.
warm regardswhat did u mean by master ? can u share us few secret of your strategy here ?
=====================
Thanks but...
Thanks Danko.
Everything about Forex.
But the capacity of a computer program is to modeling the real life.
And here, it's what we try to do.
This will be shortest (and maybe among best) fx course in the world. How much are you ready to pay
Donations are welcomed.
Let's go on. First unwind everything you know, you need clean plate. Forex is game of probabilities. Like roulette, blackjack etc. (like it or not, for example I didn't like this fact, now I'm used to it).
First master technical analysis. By that I mean find max 2 or 3 indicators that help you in you decision. Those are mostly simple ones: trend/channel lines, supp/resistance lines and MACD (used only for divergence). That's all you need.
After that learn to read waves (currencies moves in waves)- higher high/higher low mean it goes up and vice versa. When next higher low falls below former, trend is over (get out). In consolidation periods use same technique, only on less scale - micro trends (less pips on risk and less pips as target). Also learn to recognize patterns. That will be your edge, which mean that by constantly using this method you have more chance to win than to lose - it's all you need for now. Test methods (by using very small real-money stakes, you need to feel pain of a loss, however small it is) until you find your edge.
Then learn money management. Without much theory involved, you simply need it. Risk between 2-5% per trade. If you risk more you will be nervous and inevitable losing streaks will set you back too far. Around 3% is ideal, you can stand 8-9 losses in a row withou much damage (I never had more than 8-9 losses in a row, even when I was rookie). That's all for MM.
Finally, you need to build right psychological attitude. As said, it's game of probabilities. If you find and tested edge, it means that after certain number of trades you will have more gain than loss. Let's clear this out. You cannot for sure predict outcome of a single trade, because there are too many parameters involved. But you can be sure that after commiting enough trades in a row, by using your learned edge over market you will earn more than you will lose. And it's all you need to know. It sets you free from stress and pain in trading. So approach to every new trade by forgeting outcome of last two or three, because they have absolutely no significance in determining outcome of your next trade. You need abit training in order to obtain this skill.
And be patient and disciplined enough to trade according to your plan/edge.
That's all folks. Remember me after you earn your first 10,000.-
1. All the things above are the very fundamentals of FOREX trading. You can find them, phrased like "FOREX for beginners" (and so on and fo forth). Now do you think you've said smth really major here? Or do you simply think that those fundamentals are enough to earn big bucks?
2. Most (not all but most) of the systems that get twicked and tested here, are NOT black boxes, but Open Source EA's. If it is a black box for YOU (or anyone else, for that matter): simply take the time to learn MQL4 and understand the logic behind any system. The fact that you might not know/ understand MQL4 programming, doesnt make an open source EA a black box.
3. FOREX is not a constat-type system, it is constantly changing. Thus it needs constant (or at least A LOT) of tweaking and playing around to find an ideal or good balance in settings. I see nothing wrong with it.
My point is that, well, if you cant make profit from those systems, that doesnt mean it cant be done. If you belive in different methods of trading, that doesnt make autotrading stupid or wrong. If you cant understand an open source system, how can you call it a blackbox?
Now people, please feel free to correct me on any of my remarks, if you think I'm wrong/ mistaken somewhere.
Cheers,
Diam0nd
I agree
i tend to agree with Danko even though he discussed this in simplistic terms. The best traders in the world are risking no more than 2% per trade (futures) and are able to withstand the drawdown that haunts us all. Success in the markets is more about correct money management and position sizing, entry is only 10%. In fact with correct position sizing algorithm you can make a fortune on a coin flip using any market. The problem with most of the EA's tested here is that the risk/reward is leveraged negatively, i.e. -4:1 or in the caes of multi lot scalper, -10:1. So, you could have 9x succesfull trades and only 1 to screw all your gains. This clearly is not the way to go. Have i found the 'holy grail', hell no, i'm here just like the rest of you seeking information and opinion to make me a better trader. Perhaps we could start a thread dealing only with money management and position sizing and see how it develops. The problem with my statements above is that it often takes huge losses (my case) to really understand what i'm saying and apply this in real terms. For me, if i could have a 90% chance of generating 20pips a day, i would be writing this mail from my beach bungalow. The point is getting your head around probabilities is not easy and we tend to go back to relying on a majic indicator or EA in the hope that someone else may have missed something that will go on to make us a millionaire. Anyway, the quest continues. PS: i would like to hear from traders who are trading for a living and have done so consistantly for at least 12 months.! I need a mentor...
you guys are so funny
You think that by using black boxes you will take money form those less than 10% traders who actually make money constantly. You are really optimists I read about hundereds and thousands of pips monthly. Well, it's really amusing.
Don't you realise here how much time do you spend to endlessly tweak those systems. It's too much work instead of less work. If those systems were something, banks would buy them all and keep all the money for themselves.
I can see that most systems can work in trend periods but are hopeless during consolidation. Well, 5 year old can trade profitably during trend period, you don't need box for that.
I do not mean to deluge you, but better start learning one step after another. Slowly but steady. This is only path to success in this business. When you finally master, earning will be much simpler than by using any box.
warm regardslol such a bullshit post 
i guess you are the 5 year old trend trader who you are talking about 
1. All the things above are the very fundamentals of FOREX trading. You can find them, phrased like "FOREX for beginners" (and so on and fo forth). Now do you think you've said smth really major here? Or do you simply think that those fundamentals are enough to earn big bucks?
It will always be naysayers, and they have 100% right to express themselves. Forex IS simple, problem is that 95% traders don't know what works and what is mumbo jumbo, and they spend precious years to reveal this. Decyphering what works for real is not 'forex for beginners' task (if so, we all would be millionaires). Read between rows and you will find clues in my post.
If you are constantly profitable by using box, my honest congrats to you. Of course it can be done (see above post). But what I'm trying to say (another clue), for majority it's too daunting task. Relying on your own knowledge is easier and better long-term solution.
But again, don't take me wrong, if someone finds using box profitable, it's perfectly ok. Test its output: during last 12 month period, did you finished at least 10 month profitably? If so, you don't need box (third clue)
This will be shortest (and maybe among best) fx course in the world. How much are you ready to pay Donations are welcomed.
Let's go on. First unwind everything you know, you need clean plate. Forex is game of probabilities. Like roulette, blackjack etc. (like it or not, for example I didn't like this fact, now I'm used to it).
First master technical analysis. By that I mean find max 2 or 3 indicators that help you in you decision. Those are mostly simple ones: trend/channel lines, supp/resistance lines and MACD (used only for divergence). That's all you need.
After that learn to read waves (currencies moves in waves)- higher high/higher low mean it goes up and vice versa. When next higher low falls below former, trend is over (get out). In consolidation periods use same technique, only on less scale - micro trends (less pips on risk and less pips as target). Also learn to recognize patterns. That will be your edge, which mean that by constantly using this method you have more chance to win than to lose - it's all you need for now. Test methods (by using very small real-money stakes, you need to feel pain of a loss, however small it is) until you find your edge.
Then learn money management. Without much theory involved, you simply need it. Risk between 2-5% per trade. If you risk more you will be nervous and inevitable losing streaks will set you back too far. Around 3% is ideal, you can stand 8-9 losses in a row withou much damage (I never had more than 8-9 losses in a row, even when I was rookie). That's all for MM.
Finally, you need to build right psychological attitude. As said, it's game of probabilities. If you found and tested edge, it means that after certain number of trades you will have more gain than loss. Let's clear this out. You cannot for sure predict outcome of a single trade, because there are too many parameters involved. But you can be sure that after commiting enough trades in a row, by using your learned edge over market you will earn more than you will lose. And it's all you need to know. It sets you free from stress and pain in trading. So approach to every new trade by forgeting outcome of last two or three, because they have absolutely no significance in determining outcome of your next trade. You need abit training in order to obtain this skill.
And be patient and disciplined enough to trade according to your plan/edge.
That's all folks. Remember me after you earn your first 10,000.-
Danko
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you guys are so funny
You think that by using black boxes you will take money form those less than 10% traders who actually make money constantly. You are really optimists 
I read about hundereds and thousands of pips monthly. Well, it's really amusing.
Don't you realise here how much time do you spend to endlessly tweak those systems. It's too much work instead of less work. If those systems were something, banks would buy them all and keep all the money for themselves.
I can see that most systems can work in trend periods but are hopeless during consolidation. Well, 5 year old can trade profitably during trend period, you don't need box for that.
I do not mean to deluge you, but better start learning one step after another. Slowly but steady. This is only path to success in this business. When you finally master, earning will be much simpler than by using any box.
warm regards