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Originally Posted by Kalenzo
2 -> harold4x : READ THIS - THIS IS ABOUT YOU
"My point is that, for most people, CatFX50 will never be profitable in the long run. Most of the "systems" posted on any forum will never be long-term profitable. Why? Because most people don't know how to trade, they only know how to watch an indicator and do what the indicator says. New people don't want to hear about discretion, they just want rules. I know, I've been there. EAs reinforce that by requiring us to have every entry and exit signal spelled out perfectly. They require rules. New "traders" don't learn to trade, they learn to become "filterers", adding more and more indicators to try to filter out the bad signals and keep the good ones."
Here u have a full post http://www.forex-tsd.com/7305-post784.html
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Hi Kalenzo,
real true words - but unfortunately that is an experience everyone must make for him/herself.
It's like education of kids - if you are a kid you don't want to hear the mostly good advices from your parents - if you grow there is a time when you recognize that it could have been easier in life if you had followed these. If you are father/mother for yourself you don't understand why the kids want to get the similar trouble as you had although they need not.
On the other side - you must start with any kind of "
plan" if you want to "grow up" from a beginner demo trader to a more durable profilable trader. As I said before in another posting - the successful traders (not many) I know all trade with a trading plan based on a smaller or bigger portion of the discretion factor. Unfortunately there is no Holy Grail besides discretion and market knowledge.
Best wishes
mibl