The HolyGrail, want to help make it? - page 2
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Secondly there is only one holygrail, there are not 2 nor 3 nor 10 nor 50, mathematicly there can only be one holygrail. The reason for this is because in order to earn the title of holygrail a system would have to earn the highest possible profit achievable. And that is, the "highest possible profit point"... and it is impossible to go beyond the "highest possible profit point," profit beyond it, does not exist.
You sound new to this game, a lot of pure ideas which I guarantee the market will beat out of you. A 'holy grail' is not the "highest possible profit", it's anything that wins more than it loses, it's that simple. Think about it, if you have something that does that one simple thing, your made. To date, I have only seen one EA which backs up this claim with actual live money results, not hot air, bullshit & and mysteriously resetting demo accounts (and guess what, it ain't on this forum & it ain't for sale) so I know it's possible, and talking to it's creator this is what I picked up... Forget all this AI trend following martingale hogwash, just manage your risk properly and be ready to react. Risk management is always the last thing that gets considered around here, after a few (demo) accounts get wiped. You would think the message would sink in after a while, but no (witness steinitz's backpedaling on his 'god dammed ATM machine!', his words, not mine). Manage risk first, take profits second, that's it.
You sound new to this game, a lot of pure ideas which I guarantee the market will beat out of you. A 'holy grail' is not the "highest possible profit", it's anything that wins more than it loses, it's that simple. Think about it, if you have something that does that one simple thing, your made. To date, I have only seen one EA which backs up this claim with actual live money results, not hot air, bullshit & and mysteriously resetting demo accounts (and guess what, it ain't on this forum & it ain't for sale) so I know it's possible, and talking to it's creator this is what I picked up... Forget all this AI trend following martingale hogwash, just manage your risk properly and be ready to react. Risk management is always the last thing that gets considered around here, after a few (demo) accounts get wiped. You would think the message would sink in after a while, but no (witness steinitz's backpedaling on his 'god dammed ATM machine!', his words, not mine). Manage risk first, take profits second, that's it.
yeah craig i agree with everything you said.
great post really serves as a great wake up call. and should for many others too. I hope the market beats out all the ideas outa me soon, because then ill be able to sleep at night.
my template will be posted here soon.
Good two cents prasxz. Pretty clever, your right. Technical analysis will be the foundation for the martingale system that is to become the holygrail.
and thats basicly the idea i wanted to share with everyone here.
The complete idea will be posted soon I want to have an Expert available when I post it. so we dont have to wait a long time.
Wow Orion good idea about pairing a trend following system with AI and having the AI potentialy mitigate DD with hedges during counter-trends.
thank you for sharing.
First i would like to say that the existance of the holygrail can be mathematicly proven.
The strategy, in the end, is the martingale setups, like blessing ea or v1v2 ea. so the holygrail if it gets made will have to originate from there.
Elitecamper,
I would like to discuss these 2 very strong statements you made because they surprise me a lot.
- First "the holy grail can be mathematicly proven", could you please elaborate on that, give us more information or links to documents that demonstrate it. From my knowledge the people in Universities working in the market theories support more an efficient market theory, rather than a "holy grail" theory. So anything supporting your statement would be very interesting.
- The strategy is a martingale: again from my knowledge (I may be wrong) if there is 1 system that can be mathematicly proven that it fails it is martingale. So in my opinion it should be the last one you should think to use.
Martingale fails at least for 2 conditions that are requested in order to have it work and that cannot be met: your account needs to have an infinite some of money, and you place orders with an infinite sze of lots. (I think it's hard to put orders over 100 lots)
But it's maybe only me who misunderstood what you said.
by the way if you took the daily setting form the flash files I send to you, you will be able to get the daily trend ( or lets say the new day trend based on the previous days and yesterday candle ) however keep this approach to your self and please don't post it here its copy right material.
Personally, I think there should be a ban on the use of HG in thread titles - if only to keep down the clutter as it attracts newbies like moths to a flame. Every month or so you find the same stuff being regurgitated, (normally be a newbie to forex), which is fustrating.
@Craig, completely agree with you, especially about Steinez strategy. I've been away for awhile and was completely amazed by the fervour being generated by Steinez. I was incredulous after spending several hours going through the threads in various forums to learn that this 'systems' basic premise is 'trade with the trend' - and that's it! No money management apart from vague references to trade multipe pairs to manage risk, no exit strategies, nothing!
It has been shown that 'entrys' have a relatively minor influence when compared to risk management over the long haul. But rather than concentrating on this, 90% of people devote their time to picking the 'best' entry and then nothing, just hoping it works out.....
Personally, I think there should be a ban on the use of HG in thread titles - if only to keep down the clutter as it attracts newbies like moths to a flame. Every month or so you find the same stuff being regurgitated, (normally be a newbie to forex), which is fustrating.
@Craig, completely agree with you, especially about Steinez strategy. I've been away for awhile and was completely amazed by the fervour being generated by Steinez. I was incredulous after spending several hours going through the threads in various forums to learn that this 'systems' basic premise is 'trade with the trend' - and that's it! No money management apart from vague references to trade multipe pairs to manage risk, no exit strategies, nothing!
It has been shown that 'entrys' have a relatively minor influence when compared to risk management over the long haul. But rather than concentrating on this, 90% of people devote their time to picking the 'best' entry and then nothing, just hoping it works out.....yes omelette i understand your frustration. I just want you to know that i debated a long long time on weather i should use the word holygrail. It was not easy. dont be so hard on the newbies, everyone one was a newbie at one time. newbies can not come up to your level, but u can go down to their level if u wish to do so. dont be so hard on newbies they already have it hard enough.