Quote:
Originally Posted by droesparky
So its persistance that pays in this method?
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Hey droesparky,
That is so in anything. I have benn through 100's of "systems". Some free some that cost thousands. Some good, some bad. The point is I found something that works. For me.
You need to be comfy with what you do in trading. I dont want to knock other peoples system because I have no right to do so.
If it works for them great! But they dont work for me.
Let me give an example. Someone sent me a system they where developing where the SL was between 100 & 200 on a 4 Hr chart. The system was generating around 700 a month. When I told them about FTC they said it would never work. You will get stopped out so many times. Its true. I do. But When I win I dwarf what I lose by a substantial amount.
Im ok with losing 30-50 pips a trade. Not 100-200. He said he averages only 4losses a month. I average 7-9 a month. He averages 3-5 wins between 100-200 pips each. I average around 3 wins @ 400-1000+. You see my point.
He still was not comfy with almost 10 losses. He was so worried about his "average". Who cares about averages. It does not matter in Forex. What matters is how much you get in the end.
He is trading minis right know. Lets see if he is comfy with full lots losing 200 pips. Not me.
There are many great systems on this & other forums. This is the one that works for me. I hope you all can make some pips on this until you find what works for you. If this is it then great! If not I understand.
Good Luck to all of you.
Bear-
