Disbelief - It's luck not skill - page 11
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FD, out of interest why an 800pt stop...considering it only has made 1 loss of 131 pts? Seems very larget for an average win of 250pts?
I've been trading the same method for around 8 years. The method is reasonably diversified, and involves trading approximately 10 non correlated sub systems.
Hi zupcon
I know what you mean, but I think you're wrong.
You can't have the same method for all market situations. You have to identify what is the market situation in each moment, and then, apply the method you have for this one.
If you have had a returned of 190% last year, I'm sure that this method is for that situation and now, maybe, the market situacion has changed.
I think that you try to have the unique method one, but it's impossible.
According that, when you use a signal and this works very well you never have to invest only with this, look for more signals and then you get that when this fails the other could be comensate your invest.
FD, out of interest why an 800pt stop...considering it only has made 1 loss of 131 pts? Seems very larget for an average win of 250pts?
It's a bit vague now why I chose that level of stop loss but in my development of strategies I try to look for the best return. In this case a stop of say a couple hundred points would have resulted in an unprofitable system. Often in the longer trades (several days to a week or two) the drawdown can be significant before the trade turns profitable and thus a 5% stoploss prevents me from being stopped out too soon.
Reading bigFish's post above is adding weight to my slow realisation that a 'universal' profitable system for any forex pair over any timeframe and over any period in history is an impossible dream. However, I would gladly be corrected if someone would show me otherwise!
Kind regards to all
In this case a stop of say a couple hundred points would have resulted in an unprofitable system.
then I think that is the point you should move on an find a different/better system.
Imo you shouldn't be "finding a stop" that gives the best return. All systems would return best with large/massive stops.
out of interest why are you so intrested in "forex pairs"?? What about other markets.
Imo you shouldn't be "finding a stop" that gives the best return. All systems would return best with large/massive stops.
Absolutely; I believe that in my first post I explained that I needed some new ideas. You asked me to post up my best system and maybe I would get some help. Well, I have done that and could do with something a little more constructive than:
then I think that is the point you should move on an find a different/better system.
Still haven't heard from either Kevinator or Zupcon which was the main reason I posted on this thread. I think it is time for me to leave this one as it has clearly run it's course.
Thanks for all the input from those who contributed.
Sorry if you don't find it constructive but pointing out why your system(s) fail I think is quite constructive. Its the numbers behind them...they don't add up.
Also what about my suggestion to think of other markets?
Well for idea...
how about find a market behaviour based on price not indicators?
Make sure your stop is less than your target price
and test.
It is that simple. You have to go through thousands of ideas. Or at least I did. And even then I can't claim to have made mint trading but I have done okay.
I don't think you are going to get anyone to say..."here is a profitable system I used day in day out...there you go. "
Also why would anyone want to take on a student who has admitted he has run out of idea?
What else have you tried? What are your aims in trading? How much have you got to trade with?
With all due respect I feel I am getting bogged down here with all your questions. To answer a few I have tried other markets and developed profitable systems for stocks and indices as well as forex. I only mentioned forex because this forum is primarily concerned with forex. As for:
I don't think you are going to get anyone to say..."here is a profitable system I used day in day out...there you go. "
I don't want to be handed a system on a plate - I just want someone to show me their ideas about how to develop a winning system.
BTW, what is market behaviour based on price (as opposed to using indicators)? I am relatively new to this so I am only aware of using indicators to try and guage where the market is going.
As for taking on a student who has run out of ideas I would have thought the criteria for a good student was willingness to learn and put in the effort required - qualities I have already declared.
Finally, I have tried many other ideas not worth detailing, my aims in trading are to become financially independent, and my trading capital is personal (but sufficient for a 3% risk per trade).
If you wish to help me then how about giving some advice on how you succeed in trading rather than just telling me things that I already know.
Kind regards, Freightdog
"trading capital is personal (but sufficient for a 3% risk per trade)."
Suggestion:-
I would suggest the system dictates how much you can risk per trade not how much money you have.
If you have 100k does that mean you can risk more % per trade than if you have 20k? I don't think so.
My point about the student was why would someone want to teach you for nothing. And as you say you have only been in this a short time.
It can take years to 'understand' the markets. You will find the best traders are the ones that have been doing it the longest.
I am sending you a PM.
He knows what he is talking about dont he lol