Experts: || "BROTHER - By Rainbow On Trend High Extreme Results" EA || 5 minute manual system || - page 2

[jgray110]

Although I have no idea if this system really works, Just the fact it is a trend follower system I give it ten stars because I am reading a very interesting book Trend Following by Michael W. Covell that gives an understanding more than telling the reader what to do or how to do it, and cites the long term performance of a very small elite group of successful trend followers, including legends like Richard Dennis and Ed Seykota, I have spent exhaustive hours testing and searching for systems both trend and counter-trend that have some robustness and consistency over different securities, and I have found a small handful of systems that do well enough over different markets to at least test trade, but I have yet to find anything that works in forex generally below daily time frame, actually the most difficult of all markets, and the one thing I found that shows a generally good curve in strategy tests doesn't seem to work in live trading because I personally suspect this market we all know is unregulated is also totally manipulated and the central robot that I believe controls every move, seems to easily take out the system's trades, but with general markets including stocks, etfs, futures, I personally believe that if something truly works, it should at least work for more than one pair, and ideally the majority of pairs or securities, I would be very skeptical of a system that only works for one pair or that the author mandates only use on one or two pairs. As the book says, there is only one consideration: price action, and my own take, in testing there is only one consideration: how much percentage of money does it capture out of the total, the more the better. The best way I opine to test trade this trend following system is to demo trade or live trade on one minute to speed the curve and see how it trades and behaves so it can be improved, then test it again before trading live on the more realistic longer term time frames, but it is very important that people be excessively patient and only trade the smallest real money possible because in my own experience, once a trader's account capital is gone, it is that more difficult to have any chance, and this market from my own experience can be evil greedy for account cash. As I said before, I have yet to see anything work in this market so real money should be the last confidence level. Best regards, JJ