I'm following your thread from beginning and I think your system is good and worth it to try thanks for share
Forex Indicators Collection
That's good news that you are still making money little by little. Soon it will all add up to a good amount. So did you break out of the resistance on your equity curve? It was trending up nicely. I wish I could say the same for my own trading, I've been stuck in the same equity curve range for over a month. Hope you are doing better.
Thanks, mate. I don't think I have a system though .... The yellow line on the chart alone will make a wonderful system, I guess. I think I simply started to see the general picture (sometimes wrongly, one can't help it), and act accordingly, without being pushed away by random price fluctuations. It is all about mental state, and it comes only with practice (not demo-practice!). It's like learning to play a musical instrument, you work hard and then it comes in a kind of a magical way.
Breaking out of the resistance - yep, climbing slowly away from that hole. I was busy the last couple of weeks quitting my current job, cause I want to go full time trading. I even refused to go on a paid trip to Singapore my company offered me...
Hells bells, time to earn, and earn big time! And travel to wherever we want!
Good luck to you in getting out of the sticky area! It'll come, I'm sure.
PS It's scary though, alone in this big, crisis-stricken world, vis-a-vis with a chart, ain't it?
Good luck on your full time trading.
Brings back the memories.
I still remember when I quit my job to go full time trading, I've never felt so free and alive when I did it. But then I also realized how scary and how much pressure there was to earn a living by trading. It sure made me learn very quickly. But I was much more foolish than you, I didn't even have a good grasp of trading when I quit...I thought I knew enough, and I just did it. Yes, in hindsight, I was a moron.
Let me tell you, I had a very tough time adjusting, and it took me much longer than I had anticipated. Try not to burn any bridges at your work because you never know if and when you will need it. When you develop automated strategies, you just might find that you have a lot of free time...that you can become a consultant or go back to the work force for the stable income and benefits...while the EA is doing all the trading. LOL. The best of both worlds.
Appreciate that, Kenny. I surely have given a lot of attention to such considerations.
I AM now in a kind of a consultancy position, takes me hardly a week per month and pays relatively well, most people around me are busy whole month for the same dough or even less. Ideal situation for trading isn't it?
And yet - it's been like this for several years now, and I can see that it does not work for me.
Sometimes, you know, you need to burn a bridge or two so that people, including your own self, started taking you seriously. I am only efficient when challenged, if I'm safe, my laziness wins over and I just drag along with life.
And it's wrong, life is for more than that.
As we say in my country "he won't move until a rooster pecks him in the ass"
So are you trading fulltime now, or you have something on the side too?
When I was doing it full time trading, I realized that I didn't have enough stake money to trade full time. I was young, and didn't really think it through or prepare myself properly to trade. I think one really needs a big account to trade size comfortably because fear and greed wreaks havoc when you have a small account. Especially when you need to withdraw to live, and also try to build up the account at the same time.
I think that is one of the big reasons why I moved to scripts and EA because I really wanted to sleep. I came from the futures and equities world, and there wasn't much automation back then. I thought trading in the futures was very exciting at first, all the action and 24 hour market. Then it got to be a huge drag because I had to watch the chart and can't sleep if I was in a trade or waiting for a trade. So I looked more into automation, and I started very simple, just wanted some trailing stops so I can sleep, then it got more complex and the rest is history. Now, it has allowed me to do something on the side with my free time.
I like the system, simple and clear, I will try to make it in an EA.
How would you describe the rules though, mudar?
I really have no set rules myself.
I mean it must take a very clear understanding of things before doing an EA, right?
Well here is my description as I write:
We only open positions in the direction of the cross of yellow and white lines of the bottom indicator (period of which should be 3-5 times longer than the original chart, I use 150 minutes when trading on 30m chart). If yellow higher than white we only sell and vice versa.
Signal for opening position is metatrader's MACD cross of the zero line (same thing as (E)MA cross, actually) with period.... 10 and 15, or 13 and 34 - my favourite settings, surely other can be used.
JMA can be used for adding to the position.
But you see, there are things like support/resistance, trendlines, price speed, and you cannon formalize it into an EA. At least I have no idea how it can be done. I don't think so.
But yes, if you want to give it a try, please do. Please share with us your results.
Thanks for sharing, Kenny. I have nothing to say cause I have no experience with automation. My gut feeling is that a computer is more stupid than a man anyways and you need a much bigger account to survive those unnecessary rainy days while if trading manually, you can much better adjust.
As for fear and greed, I think I've left this stuff behind. Just look at EURJPY, say, 30min chart, crosses of, say 13 and 33 EMAs. They strongly tend NOT TO LIE! One just needs to put those crosses into a wider TA perspective. And stick to it. Once I realized that, all fears and worries were gone.
Equity resistance broken!