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Here's what I'm trying to do. I've got a small investment in stocks, some money in a savings account, some 401K plans, plus, I'm trading the forex with real money. I'm a bit diversified. I don't have to win in the forex because I've got other things working for me. So it's just one of a number of investments. My life doesn't hang on it, even though I find it very interesting and feel that there's quite a bit of potential here. I'm trying not to let my life go up and down with my wins and losses. I'm trying to trust the Lord, not my schemes or limited resources. He cares. That's all that matters. God is rich so I don't have to be.
__________________ Success is more perspiration than inspiration . . .
I am so sick of those folks who say "conquer yourself "...bs. You need a winnable system and be able to have the balls to just stick your money out there. Most system are not winnable. I would say about 99% of them are not worth the time to study. Heck, most ea's designed are not worth testing nor worth the time it spent programming. My motto is big stops, big martingales,
and trending markets.The small tf /technical stuff is just bunk applied and will just be 50-50 and wipe out the trader
I am so sick of those folks who say "conquer yourself "...bs. You need a winnable system and be able to have the balls to just stick your money out there. Most system are not winnable. I would say about 99% of them are not worth the time to study. Heck, most ea's designed are not worth testing nor worth the time it spent programming. My motto is big stops, big martingales,
and trending markets.The small tf /technical stuff is just bunk applied and will just be 50-50 and wipe out the trader
I'm sorry you feel "so sick of those folks" but it does sound like you've been struggling with forex yourself, and that you have some issues.
I agree, of course, that you can't win without a winning system. But even a winning system loses from time to time, and you've got to be able to handle that and stick to it. I've never seen a Martingale that doesn't show major losses, eventually. Can you stomach those...50 or 60 or 70% of your capital gone? You've been making money for 9 months, and then you're back to the beginning...no gain. That's a waste of time!
But you're absolutely right that most systems are worthless. I'll bet very few are making a living with even the best EA's posted in the Elite Section of this forum. I wouldn't try one myself.
__________________ Success is more perspiration than inspiration . . .
If i didnt have a winning system (thats so far ahead it will prob NEVER be net negative) I might believe your crap. forex IS beatable but you have to get your numbers right.
most people simply take profits too soon and let losses run too long. if youre average winning trade is $200 why would you allow a loss of $500? I admit that i trade by EA so my strategy gets executed exactly as i wish without my emotions messing things up. MT4 doesnt fully equalize the tilted brokers table but there are enuff tools in it to give you at least a winning chance. like Prego 'Its in there'.
since in Forex you CAN win and you WILL lose, any real strategy should focus on proper exit MORE than entry since winners can turn to losers at the last second. Use TP targets that are statistically high % hit targets and SL that leave you cash on the table for your next educated guess. Never give the Forex the ability to wipe you out CAUSE IT WILL EVERY TIME!!
Anything is beatable except death. Can't beat death!
Most trading systems fail simply because people don't follow all the rules of the system. I'm sure there are some systems out there that no matter what you did, you would still lose.
Another problem is people don't know how to manage their account. Their trading style can't stand consecitive losses because they use too much of their account per trade.
Forex is beatable, your broker on the other hand...
__________________ "Let the losers worry about losing"
If you are worried about the spreads (especially on the majors), you should not be trading. The edge is having more data and know what to do with that data.
And here's the biggest thing.
Learn to trade. A trader can trade almost any market if given enough data. You have to think outside of the box to find that "edge". It is not a giant green arrow to buy or a giant red arrow to sell. It is just some gleen of data. Then use that data to trade the old school way. How did traders trade back in the days? There wasn't even computers. They used the chart and paper/pencil. Now, how did they figure it out? That's right, they learned to trade the market.
If you are worried about the spreads (especially on the majors), you should not be trading. The edge is having more data and know what to do with that data.
And here's the biggest thing.
Learn to trade. A trader can trade almost any market if given enough data. You have to think outside of the box to find that "edge". It is not a giant green arrow to buy or a giant red arrow to sell. It is just some gleen of data. Then use that data to trade the old school way. How did traders trade back in the days? There wasn't even computers. They used the chart and paper/pencil. Now, how did they figure it out? That's right, they learned to trade the market.
our brain is like a database ...we must know the reason why we loss and why we get a profit ..input them to the brain ..so in the next round we can catch the profit and avoid the losses ...repeat it and minimize the risk with money management ..I'm sure we can reach our wishes
A computer (automated trading ) can monitor 10 different pairs and act on given instructions for given circumstances.It can monitor many different markets when you are at lunch,or in the loo or watching television.After 5 consecutive losses ,your computer won't be a stupid idiot scared of taking another losing trade but you wilL be.
The computer will master the markets.
Man if spread is your bread ,you got a lesson in trading coming your way
Success is more perspiration than inspiration . . .
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