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Originally Posted by Maji
Breakouts... you won't win every day, but if you follow the rules and trade it religiously, over the course of time your average will be 10-20 pips per day. However, you will have to be prepared to withstand losses, sometimes for weeks in a row. That is when the boys and the men get separated, with the men going on to become successful traders. For the ladies on this forum, it separates the girls from the women  |
Just my Opinion and will concede that i'm still a raw newbie 'boy' myself.
I believe that it will be up to the trader to find the best system suitable that he / she feels comfortable with, Only the trader will know what will suit him/her. Such systems will be based on the traders own circumstances, How much of his income will he be trading, his risk profile, comfort level etc.
I've seen breakout systems that are in continuous draw down for YEARS on end as the market was continously fluctuating around giving false break out signals and the accumulating draw downs through relying solely on a break out system is surely to break even the most hardened trader I believe. In such a case I feel that it may be better to actually to supplement the breakout systems with a suite of others systems (essentially diversify) in order to soften and somewhat smooth out the impact of such draw downs.
Just my two cents.