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Yes, it is me again with monthly poll! The question this month is "What is your biggest forex trading weakness?"
Possible answers include:
a)I lose control over trades.
b)I struggle with emotions over losses and lost "potential profits".
c)Indecision is my greatest weakness. I hesitate too much.
d)I am not focused as much as I should be!
e)I do not stick to my trading rules and not always apply my trading plan.
f)I still haven't defined a good money management system.
g)I believe that I have magical powers and can predict the future.
If you feel that you have some other weakness (not mentioned above) please share Thank you for your votes.
My biggest question about system trading (EA's) is can we get performance with Live Money comparable to backtest and demo results?
I have tried three different systems, two purchased and one written by me, that backtested well but did NOT do as well with live money.
There seems to be two types of problems, 1) typical system design issues with over optimization or unstable design, and 2) some brokers manipulate the prices and spreads making it very hard for the customer to make money.
With one system I traded live, all of my trades matched up very well with the trades using the same system in a demo account with a different broker, till the profits started to build up. Then problems started to occur, spreads would widen, and fills would be delayed or not occur at all, even on market orders. The system continued to make money in the demo account but not with live money.
Has anyone experienced these problems? Anyone had lots of good experience? Any solutions available? Thanks!
My biggest question about system trading (EA's) is can we get performance with Live Money comparable to backtest and demo results?
I have tried three different systems, two purchased and one written by me, that backtested well but did NOT do as well with live money.
There seems to be two types of problems, 1) typical system design issues with over optimization or unstable design, and 2) some brokers manipulate the prices and spreads making it very hard for the customer to make money.
With one system I traded live, all of my trades matched up very well with the trades using the same system in a demo account with a different broker, till the profits started to build up. Then problems started to occur, spreads would widen, and fills would be delayed or not occur at all, even on market orders. The system continued to make money in the demo account but not with live money.
Has anyone experienced these problems? Anyone had lots of good experience? Any solutions available? Thanks!
i have use EA for 1 years, and find out most of the EA lossing , because those EA chase the trend instantly , that is chase trend EA, which can profit only on strong market ~~
but however the market 80% of the time is being weak
and many EA use a very wide stop loss e.g. 2000pips of eurusd and short tp such as 20 pips , which is easily stop out by broker house for those account below 2000usd (0.1 lot)
ATC 2008 nub 1 EA is a middle term investment EA , which take profit is 460 pips, although it TP is long , but when the price is linger at a fixed range, it will lost lots of chance to enter market, when hold a position for a long time
so a best EA is to determine the market now is being weak (price fixed at a range ) or being strong(to chase the trend break-out system) ~~
My biggest weakness at this moment is
f) I still haven't defined a good money management system.
g) I believe that I have magical powers (woooshuuu... mmmmmmmmmmmm... listen, folks, the sun will rise again... wait... TOMORROW! You see, it is not hard) and can predict the future. (the price will go down after it goes up, and vice versa, just find out when it will happen - yes, the hard part)
Anyway, still fighting with Money Management and working on my own strategy.
I'm just wondering about those 'winners' giving advice, whether EA or manual. How long have these guys (or their Eas) been profitable? for all i know, 95% of people could have been profitable for 3 months and then decided because they are now 'profitable', their advice is worth giving.
"with great powers, comes great responsibilities" - uncle ben
I think that the difficulty about the expert advisor is the uncertainty of the signals. And the most difficulty for the traders is how to choose these signals to follow.
Strongly agree
get rid of all that crap from your charts all you need is price volume and the dom
I agree. I think there are a few that may work. good luck figuring out which ones. they don't work mainly because they're too slow for forex. they work great in stocks and commodities though. I'd say 95% of styles/methods/systems (or whatever you want to call it) that uses indicators under anything that's not used on the daily chart, will eventually stop working because those special settings are just curve fitted. people always wonder why their method fails. theres' your answer. only about 5%-maybe, (and that's a huge maybe) 10% of technical indicators work.
this is what i see from only trading live for a year. just drop all that stuff and figure out the 5% that does work so you don't become the 95%
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Keep your enemies close and your stops closer