Big Profit Without Using Any Indicator - page 19
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Every system MUST have stop/loss.
Some time ago i have used a "nice" scalping technique:
- ONE point trailing stop (+ 2 point of spread)
- no stop loss
- slow and stable operations: 2%-5% of income per day.
I was successful for almost three weeks. I have gain 40% of income without any loss.
BUT in one day i have lost all my money from SINGLE order.
STOP/LOSS is a MUST for every system. Don't be fool like me.
Blessing system could be good IF there will be ANY stop/loss, at least S/L should save 50% of account money.
PS. Sorry for my poor English.
Rifo,
If we have some open trades from yesterday, do we still start level1s at 00gmt ? or we continue with yesterdays levels with 20pip distances ?
spot-on ea
Hi everyone,
That was a fun testing this system. It can be profitable for some time, it can bring you some money today and tomorrow. But any big trend will take out everything you got and everything you had before starting this game. And it may happen anytime today or tomorrow. You could see it on testing - that was many time that price went in one direction without any re-trace bloody long.
You can reduce the risk playing by microlots. But what the point to win 50 cents a day?
So, my advice - keep looking for more profitable and less risky ideas.
Regards,
Timbowell done! and gracias, timbobo
you've got the codes perfectly organized in v5. it's doing exactly as outlined
by rifo (as far as i understand it)
rifo, pls confirm
my forward test is sailing first day very smoothly on quiet ranging GU. will see how it rides the storm when it comes
many thanks again, timbobo and rifo and everybody else who's contributed.
Can anyone explain what this system had to do wtih Elliott Wave that author elluded in his first pdf document?
Rifo's system relies on the a,b,c,d waves of elliot. 20pip retrancement is what keeps the system alive.
Btw. I have back-tested this system and you need at least 10.000$ to be successful (because you need to have that huge 6.4 order...)
Btw. I have back-tested this system and you need at least 10.000$ to be successful (because you need to have that huge 6.4 order...)
You need more, as at level 8 with 6.4 order you would have 12.8 lots open...
Wake up people!
I have said it before and I say it again, Martingale does NOT work! It may be 'adjusted' but you are chasing an illusion here, something so much worse than a mirage that will only have you drinking sand at the end.
It may work on micro (for a short period) if you feel that $10 a day is suitable to pay the rent but after a few exponential doublings on a full lot account you are up to 150K Margin and a potential 15-22K loss, for what??! A possible $200 return?! Insanity.
Youre chasing this system because the idea of one that accepts no losses is the eternal dream. I'm sorry people, the reality of trading is taking losses and making sure they are much smaller than your gains.
FxNorth
I have said it before and I say it again, Martingale does NOT work! It may be 'adjusted' but you are chasing an illusion here, something so much worse than a mirage that will only have you drinking sand at the end.
It may work on micro (for a short period) if you feel that $10 a day is suitable to pay the rent but after a few exponential doublings on a full lot account you are up to 150K Margin and a potential 15-22K loss, for what??! A possible $200 return?! Insanity.
Youre chasing this system because the idea of one that accepts no losses is the eternal dream. I'm sorry people, the reality of trading is taking losses and making sure they are much smaller than your gains.
FxNorthI think you have a point here.
Dan.
mirage
dreamchaser goes through worse than drinking sand
keep on chasing