Quote:
|
Originally Posted by pipsnaper
Cubesteak thanks so much for the great advice! It's always nice to learn from traders such as yourself. After reading your reply and reevaluating the charts I realized that you're correct and with tight, efficient MM one would certainly be able to walk away from that day with a decent amount of pips. Given your suggested style of trading, and securing at least some pips for each trade, would you think it's possible to not bother with confirmation from the filters and enter trades when ASCTrend gives a signal? It appears that when ACSTrend gives signal usually there will be sufficient pips in the run to control the trade with tight MM. Actually waiting for filter confirmation seems to result in loosing critical pips in the smaller trends. As you can see in blue signal #1, entry at that point would have resulted in much more pips gained with protective MM. What's your thoughts on this? Thanks again!
Linuxser - I havent changed any of the settings from what ND posted. Only turned the grid off. The feed on those charts is interbankfx demo.
|
Hey Pipsnaper!
My pleasure! Just trying to "give back" in the spirit of this great forum.
About your question - that is a personal choice. It certainly seems at times to be a wise decision, but at other points, it just doesn't work. I think that if you put in the time and effort, and found a pair, TF and risk setting that works, you could certainly develop a system of MM that makes you consistent profit.
BUT, that would be something altogether different. IMHO, the idea is finding something that works consistently and then trading it the way that allows you to reach your goal. These ASCTrend systems by ND are already an excellent starting point for consistency.
The real choice is - do you want to spend time developing your own system from scratch, or do you want to use something that many people are testing / tweaking so that you KNOW it well enough to make an informed decision about how that next tweak or indicator will affect your trades.
Of course, you can do both, if you have an enormous amount of time to spend.
I can't tell you what to do, but I can what
I would do. My personal choice would be, if you like this system, trade it until you are consistently producing profit and can do it in your sleep. Then if you still want to play around with it, see what you can change to maybe more reflect your personal style/needs.
I'm just getting to that point now, and believe me, I've a long way to go! As I stated before, my biggest discovery so far has been that I don't need to win ALL the pips. To me, getting some of them all of the time is much better than getting all of them nearly none of the time.
I guess another way of saying that is "There is no Holy Grail" - and how many times have you heard that?? heh. Well, DUH on me for it taking so long to sink in.
Really, it should be "You don't NEED to look for the Holy Grail" - many other cups will do if you use them right.
All the best, and I'd love to hear of your progress..
Cheers,
Cubesteak