Perplexed - year spent looking for system - Page 2
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Thread: Perplexed - year spent looking for system

  1. #11
    Anytime my view is in agreement with my good friend the powerful magician I know im on the ideal path.

    Knows this for the very same reasons I do.

    Blood, tears and sweat.


    Quote Originally Posted by ;
    Quite simply optional trading is the way to go, right? I got it. Merlin said the same thing once also.

  2. #12
    Well said Jim. However I wish to ask you a question; how can a broker with 12-50 workers figure out how to keep an eye on 500 traders and figure out how to spike the prices so as to skupper every individual punter? IS it worth their time, hard work and te risk of being bad-named? I am not arguing for the brokers, but this really is a real doubt I have had for a little while, yes I have noticed markets going eerily in the exact opposite way of my trade, but true is that they always come back - if you have managed your position well enough not to ensure a margin call.

    Quote Originally Posted by ;
    Why would a broker wish to retain me as a customer, when he knows that after I've dismissed my account - from which he has gathered his dues - you will find a zillion other punters prepared to meet my shoes?

    There are 3 sides to this. Lets look whatsoever of them.

    1. There ARE a zillion other punters along with also the brokers know something about about them.

    They will try to be a physician after 3 weeks clinic or less (not cure it as a business) and that accounts for around 90% percent of all new traders.

    A number of those folks will also return with a refunded account and do exactly the same thing many times.

    2. A small percentage will try to take care of it as a company and hang in there with varying success. The bigger account holders will always perform.
    All of us will be two totally different traders based on account size and large account holders will exchange less and are more disciplined because they know 2 or 3 good trades per month will truly matter.

    3. A tiny percentage of the little account holders from #2 will build accounts to large amounts and a larger percentage from the large accounts will discover long term success for reasons stated above.

    the bottom line?

    no one besides the trader determines success. not brokers or anything else.

    For anyone that cares to listen almost 26 years of personal experience tells me .

    1. Small account holders with no experience and no desire to take care of this as a company are more likely to reach the powerball than build an account extended term.

    2. Just how a lot of individuals ever begun and built a successful company after 3 weeks practice, or annually for this matter. When they did they were damn lucky.

    3. When a trader cant exchange daily charts on demo for a protracted time period with achievement they cant exchange it with real money and find success.

    4. If they cant exchange daily with success with real money intraday is sure doom.

    5. If they cant exchange consolidation areas ( what markets do the majority of the time) or at least understand the nature of a sideways market they are doomed too. This is the monster for new traders.

    I could keep counting off for an hour when I start doing this I start feeling sick. it brings back memories. I received this far before the sick sensation set in and because im about to sit down with a cold one and watch a cowboy game I will stop so I dont destroy it.

    I sincerely hope I never come accross as a know it all. I try real hard not to do this particularly on this public forum.

    Im only talking from the heart and from experience.


  3. #13
    In addition, I concur with Nerva here,'systems' don't exist, what works is your ability to judge and respond to price behavior - A learnt lesson - quite profitable too

    Quote Originally Posted by ;
    If I might add my 2 cents to this issue, I think there's a few variables at play .

    -In my experience, the market will move in patterns (otherwise guys like Martin Pring are only whole shysters). However, I've back-tested price action with indiors and EAs and the back-tests are choppy (even on 4H and daily timeframes). You may at best be down and up. Even Kathy Lien's double-inside bar system which I made an EA of has been very choppy. This is probably because of changing market conditions.

    -There are a few aspects that also will have an effect on your performance if you are a pure tech:

    -Spread (of course, but this is a biggie because it adds up)
    -Changing market conditions (therefore analysis that exploited an inefficiency prior to no longer applies)
    -Another biggie is that you generally can only get at best 50-60percent of the majority of moves. Bang half your profit gone there.

    So if you would like to make a profit, (and can be appropriate here):
    a) hedge your bets and start gaming w/big positions.
    B) Concentrate on fundamental market forces to safeguard against changing market conditions and other things.

  4. #14
    Quote Originally Posted by ;
    thats excellent john, really.

    When it lasts you've got something literally millions of people have been looking for for almost a hundred years. I've come accross more than I could count that worked for a while maybe even a year but they never pass the test of time. The mechanical method I tried was about 3 years ago and its own that which grabbed my attention when I was going to depart after a 2 minute stop at a new forum called forum.

    I wasnt buying mechanical system but a number of the comments peaked my interest regarding a place I had been doing some research on. I mention the machine but if any old timers here see this they might. It like all mechanical systems was blowing the doors off due to a trending market at the moment. Individuals were doubling there money every fourteen days.

    That mechanical system is exactly what triggered Foreign Exchange factories premature expansion.

    i knew what was coming.

    It arrived and the sh@# hit the fan.

    Ive found it a thousand times.

    The individual who was selling it'd his support area hidden here for members only and he was a good man.

    It was a pity because so many people had such high hopes for this. There were really people posting spreadsheets showing how if this lasted they were gont be billionaires in under 5 years.

    When the markets went and there was no price related filter the roads of forum ran red with blood.

    it wasnt pretty.

    One simple thing can actually make a totally mechanical method work over the long haul. It could keep you from poor mechanical entries and re-enforce the good ones and that is a simple comprehension of price action.

    This of course takes the mechanical component out but just barely and it ALWAYS makes whatever its implemented to better.

    Just my opinion of course. nothing more/nothing less.

    Thank you for your thoughts Jim, and I concur with you that this system definitely works best in a trending market, but MM helps reduce the inevitable drawdowns produced in a volatile choppy sideways market, as far as I know there is no system which works 100 percent of the time, drawdowns are part of this business, the main thing is the way you control and decrease the losses.

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