The 7/10 System - page 3
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Because it is necessary to analyze the losses, not profit.
As to the statements so we passed this story.
Look at my statements:
.
What I want to say - start with description of your trading system: post indicators, describe the rules to trade and it will be interesting for all the members.
Because if you will post the results for some system which we do not know - it will look like commercial promotion and we are banning for that sorry.
On any good statements/results - I will have more good results from public systems developed on this forum. The only way to stop it - post your system herehey, i just started learnign forex ok!
it is not perfect yet because I am on the test run still!
i just have an idea for a system that seems logical and not that hard.
I came by of a post which one guy was making only 5 pips each trade, close the trade and then open it again 5 pips and then done for the day!
if i sit and watch my trade why should I need to put stop losses?
I will do it manually, and the broker will be happy because the more I win the more I play and he is making money.
If im loosing he doesn;t make money, because it doesn;t make sense!
He is getting his losses from my account and his spread and thats it!
If I rise my leverage he is getting more money from me and he is happy!
because he is making money!
a leverage 1:10 in a $2000 account will take 5 years for the broker to make money and for me!
Stop loss is necessary.
Because there is big difference concerning trading on demo and on real money about psychological point of view. Besides, "broker is not friend" in some of the cases ... because broker is happy in any situation especially if 80 or 90% of the traders are losing deposit ... so ...
Stop loss is your protection if something happened ... electricity can be switched off for example ... or any other case ...
It is necessary to analyze the losses: why I will lose, when, which day of the week, time of the day, fundamental forex news and so on. Too many factors even if you are trading 1 pair. Besides, 5 pips in profit is too small so ...
For example: to take 2 trades with 5 pips in profit for each - it is necessary to watch the screen of the chart for 6 or more hours without break ... it may be fine for 1 day but 1 year every day? And it will be few days without any single trade ... It is very hard job. So, use stop loss.
Stop loss is necessary.
Because there is big difference concerning trading on demo and on real money about psychological point of view. Besides, "broker is not friend" in some of the cases ... because broker is happy in any situation especially if 80 or 90% of the traders are losing deposit ... so ...
Stop loss is your protection if something happened ... electricity can be switched off for example ... or any other case ...
It is necessary to analyze the losses: why I will lose, when, which day of the week, time of the day, fundamental forex news and so on. Too many factors even if you are trading 1 pair. Besides, 5 pips in profit is too small so ...
For example: to take 2 trades with 5 pips in profit for each - it is necessary to watch the screen of the chart for 6 or more hours without break ... it may be fine for 1 day but 1 year every day? And it will be few days without any single trade ... It is very hard job. So, use stop loss.yeah, it makes sense
i agree! I will put a loss stop in my tradings!
i have a forex robot and i did a back test, here are the results I don;t use it to do live tradings and i don;t think i would use it as my only advisor, but I wanted to show to you the importance of lot size!
the problem is that i don;t know how to upload it!
anyway,
in my first back test with a lot size 0.1 a $5000 account after one month :
2010.02.18 15:17 up to 2010.03.04 13:43 made
Total net profit 561.38
Gross profit 688.44
Gross loss -127.05
lot size 1: at the exact same period as the first backtest
Total net profit 5493.82
Gross profit 6884.36
Gross loss -1390.54
lot size 2: at the exact same period as the first back test
Total net profit 12947.65
Gross profit 15568.73
Gross loss -2621.08
my system depends at the balance of lot size and pips!
So, If you put a goal of 250 pips per month and u lose 35 pips your clean profit will be 180 pips!
im not saying to trade like the robots but we can trade successfully without eagering for 1000s of pips and make money!
my system depends at the balance of lot size and pips!
So, that is why I asked you to place your system here.
Because what you posted - it is not a system. It is some virtual results.
If you are not placing your system here so why you are here? I really need to know because we are banning the people for direct commercial promotion in public sections
(i deleted 1 your post on different thread where you were talking about your system without postin the system itself).
Or ... may be I will delete this thread and you will come back when ready?
So, that is why I asked you to place your system here.
Because what you posted - it is not a system. It is some virtual results.
If you are not placing your system here so why you are here? I really need to know because we are banning the people for direct commercial promotion in public sections
(i deleted 1 your post on different thread where you were talking about your system without postin the system itself).
Or ... may be I will delete this thread and you will come back when ready?honey if you want to delete my thread go ahead!
im not selling anything either im promoting anything and i think if i were, i would mention brands, like robots or books!im not doing any of this things.
And yes, I have a robot , which I didn;t even pay! So what?
My system is not depending on a robot! I NEVER SAID THAT!
I just placed results for people to see that when someone can manage to have a 90% or even 80% winning ratio over a 10% or even 20% losing is possible to make in 8 months a really good profit in forex with the right balance of Lot and Pip.
i mention a robot , BUT! I never said which brand! And I said I HAVE IT IN THE DEMO ACCOUNT!
and i never said i will sell anything!
I just said in plain math that it is possible to make money with forex without have to be the King Of Pips in Forex!
Now what exactly u want more from me I really don;t understand because like I said I am new and I am still learning!
I have no live account and what I do and think I only do it in my demo account
And something else, I didn;t knew the system u post in one of the threads, I got inspired by a website which the guy says to start a $1000, to make per month the 25% of that account which it is easy for someone who knows how to trade and in 2 years will have an income of $50K per month!
That it is not bad at all!
My version is to make the 5% for 18 days per month profit and in 7 months someone can make also a really good income with a realistic goal!
180PIPS PER MONTH!
You are saying to make 550pips per month in 5 pairs!
I mean common!
to be able to do that you will have to know forex and successfully trade for more than 3-4 years!
I have one pair, u have 5!
Which one is a realistic system? Mine or yours?
I think yours is litltle bit greedy!
And more risky!
if you want a stop loss, put your own and what u can afford.
if u want indicators put the ones you like,
If you want charts and time put the one it is best for you!
if u can make 45 pips per week and not trade daily, do that!
I just did simple math in a realistic amount of pips per month and a realistic loss ratio!
If u want to have 1:25 leverage do that!
So, if u want to delete my thread BECAUSE U THINK IT IS NOT GOOD ENOUGH FOR YOU GO AHEAD!!!!!!!!!!!!
, I am in other forums which nobody said that im trying to promote something or to sell anything!
AND IF U ARE BOTHERED BY ME,because you are stating you are more experienced than me and u can judge what is a system and what is not why don;t we ask other people too?
because thats what you say!
Ok, I understand now.
You are talking about trading plan, not trading system.
No problem sorry.
hey
I take it you already downloaded the meta trader platform,if not you really should.You see using the meta trader platform keeps your options open because the entire world contributes to meta trader with custom indicators and trading systems.
But you propably have already done that.Also when you buy a system,indicators or some robot(i hate robots) you need to do your homework.Google it ,read as many reviews you can get your hands on before buying anything.O and remember if you buy something from clickbank you know that you can get your refund
ofcourse if you become a serial refunder they will block you and you will not buy anything from them again.So if something does work don;t refund it okay
good luckThank you, I have MT4 but i like much more the VT Trader.
I have a robot but I don;t want to leave it on its own, Im thinking to just have it in the demo account and use it as an expert advisor when I want to manually make a trade in a live account and just have an extra "help"
I will use the demo for practicing at least 2 months more!
I actually want to succeed firts a 90% winning ratio and then open a live account!
Ok, I understand now.
You are talking about trading plan, not trading system.
No problem sorry.I guess thats what I am saying!
It is a trading plan.
Sorry if I named it system, for me looked like a system! lol
anyway, I didn;t want to confuse people!
This your thread is popular only because the header as
'The 7/10 System'.
So, you definitely should create some system ...
Or the members will help ...
[joking]
Can I make an EA like the way I want to?
I want to make an EA which it will make up to 45 pips per week, 200 pips per month!
I don;t want more than that.
and I want the lot size to be able to fix automatically, to be a leverage 1:50 of my account.
How can I do that? Is it even possible?
thanks!