Conor Mcnamara / Profil

We need to discuss the ambiguous nature of financial news publications. The broker is often releasing the news too us too late, after the fact, after the trend had already concluded (not always did it conclude, but sometimes!) So, as a retail trader, we have to ask what the news should be used for, and what purpose it serves us given that we get it too late. We can't use it for entries - not unless it is very high impact and a longterm policy change. I am now only using any incoming news as a tool to decide whether I could hold a trade or not that I had already entered. I cannot trust incoming news for entries. You will have more luck with a MACD signal than news for entries...because just look at what happened yesterday. They tell us the United States ISM services PMI was below expectations, and when they released this, EURUSD went DOWN instead of UP. Because it had already gone up you see. The trend already ended and bears came back into the market.

Week 1 of FTMOs Trading Challenge... 4 days trading, very bad week to trade, but I still found opportunities

I am a developer, but yet I might buy your products. The world is bigger than ourselves.

High risk manual trading involves some some level of psychopathy.

I have never tried prop firms until now where I took the FTMO trading challenge 3 days ago. So far so good, I don't think it is too difficult

Some days, capturing a good trade is as difficult as finding a date.

Some people say that intraday scalping is for naive people who think it's profitable. It is profitable...but has to be done dexterously, and it is not for beginners. I am still trying to refine my approach all the time. I'm at a point where my entries are actually good, but I still don't trust them, so my error right now is to close positions too soon. Still trying to improve my trading.

I made a new look and feel to the max lot script, which now includes percentage of max input. It's available for free on the seller page

This is a nice trend indicator that comes with Metatrader. It may catch breakouts like CHoCH breakouts.

There are bad indicators out there that have a beautiful appearance but are misleading and dangerous, and there are good indicators that nobody knows about.

There's too much education and articles that can get in the way of actually trading. Trading doesn't require any brains, it just takes understanding and being methodical

Unpopular opinion: Trading is the easiest thing in the world with a good indicator and understanding of price action. Trading will obviously be difficult with no statistical edge, a lot of repainting, and a lot of wild guessing

testing my "statistical zigzag" on bitcoin, it's essentially a breakout indicator based on standard deviation volatility

Code publié Statistical Zigzag

Code publié Simple Bar Timer

"Until you do what you believe in, you don't know whether you believe it or not."

- Leo Tolstoy

The manual trading simulator is completed, I have nothing more to do on it. It is good I asked in the forum if it was possible to make buttons work in the EA tester...because sometimes there is a solution found by someone, and it saves you from thinking that it might not be possible.

Keep this is mind when it comes to automated trading:

- An EA that was designed for a particular market style (trending/volatile/ranging) is unlikely to work properly in other market styles with the default setting.

- If a market is choppy, a setting has to be created to account for that, and that takes understanding of technical market dynamics.

The other world of automated trading is quantum/adaptive where it is not trading like a trader anymore and is using complex adaptive algorithms.

It's not fully known if this is more profitable or risky, or whether keeping it simple is more profitable. Simple systems can offer transparency. Complex systems come with validation challenges and opacity.

Personally I see markets as something that alternates primarily because of news and data releases. Both algorithms and manual traders react to that.
If a position is opened by a simple EA, the user must have due diligence and decide if the trade should sit there, or if it should be closed soon based on current news, and not the news that was published at the trade open time.

The answer is 2, it's still going down.

Because THAT is known as a liquidity trap which traps a lot of novice traders.