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

  1. #1
    I know there is a year not a very long time. Here is the time I have been on this forum, other forums just don't compare IMHO. However, I have looked at, read and studied many, not all of course, of the systems or any thing else they could be called and I can not come up with a trading system for me to adapt to. Its like nothing is filling the bill.

    Whats up with this? Is this normal? Is this going to last long? A number of the EA's are very good but most leave no room for learning. Some of those are being used by people that don't even understand the basic, which is of course their selection. For me I want a deeper engagement with my trading enterprise.

    Others are so many indiors its confusing and like most of those Pro. Traders here like James16, forgive me mis-quote, but all those indiiors aren't needed to successfully exchange.

    Some others that have systems give you just enough to wet the whistle the rest that they would like you to cover and there's nothing wrong with this but at the moment I do not have those funds plus I understand what a few are likely to say about that announcement.

    Others that are moderators of the threads are down right rude. Ask a simple question and you get a brief response that makes you feel dumb and does not answer the query in the first place.

    I really liked Vegas, but we understand what happened . Is any one trading his egy on a normal basis?

    So are all my feelings of being backed up against a wall, is this normal? Can some one give me a few pointers?

    I'm wanting to order a publiion by Pring on price action analysis, is this advoed by those of you that know more I?

    I do not want to go into detail about my life's tragic narrative, we all have them a bit worse then others. But I will do this to get a full time income and I will be loyal to those who assist me in ways you let yourself, together with me having to ask for free stuff and with you out feeling resentful about assisting me.

    So I do want management for the upcoming few months approximately. I hope to join James16 at a month or 2.

    I really do want to say that those I have emailed, read their threads, gained what knowledge I have due to the placement of this forum, the generosity, the kinship I hear in reading between the lines, the respect, I thank you all for this and will in another year be trading with the best and I know I will be sharing with those in my own foot steps now.

    Thank You!!

  2. #2
    Why would a broker want to keep me as a customer, when he understands that after I've blown my account from which he's gathered his dues - there are a zillion other punters prepared to meet my shoes?



    There are 3 sides to this. Lets look at all them.

    1. There ARE a zillion other punters and also the brokers know one thing about relating to them.

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

    Some of these folks will also come back with a refunded account and perform exactly the same thing many times.

    2. A small percentage will attempt to treat it like a business and hang in there with varying success. The larger account holders will always do better.
    All of us will be two completely different traders depending on account size and big account holders will trade less and are more disciplined since they know two or three good transactions a month will really matter.

    3. A very small fraction of the little account holders from #2 will assemble accounts to big sums and a larger percentage from the big accounts will discover long-term success for reasons stated above.

    the bottom line?

    Nothing or no one besides the trader decides success. Not brokers or anything else.

    For anybody that cares to listen nearly 26 decades of personal experience tells me .

    1. Little account holders with no experience and no desire to treat this as a business are more likely to hit the powerball than build an account extended term.

    2. How a lot of people ever started and built a successful business after 3 months practice, or a year for this issue. When they did they were damn lucky.

    3. When a trader cant trade daily charts on demo for an extended time period with success they cant trade it with real cash and find success.

    4. If they cant trade daily with success with real cash intraday is sure unhappiness.

    5. If they cant trade 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 beast for new traders.

    I can keep counting off for an hour but when I start doing that I start feeling ill. it brings back memories. I got this far ahead of the ill feeling 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 come accross as a know it all. I try real hard to not do this particularly with this public forum.

    Im just speaking from the heart and from experience.

    Jim

  3. #3
    If I'd add my two cents to this issue, I think there is a few factors at play .

    -In my experience, the market does move in patterns (differently men like Martin Pring are only complete shysters). But, I've back-tested price action with indiors and EAs and the back-tests are choppy (even on 4H and daily timeframes). You will at best be up and down. Even Kathy Lien's double-inside bar system that I created an EA of was very choppy. This is because of changing market conditions.

    -There are a few aspects that also will affect your performance if you are a pure tech:

    -plogist (of course, but that is a biggie because it constitutes )
    -Changing market conditions (Meaning analysis that exploited an inefficiency before no longer applies)
    -Another biggie is that you generally can only buy at best 50-60percent of the majority of moves. Consequently, bang half of your profit gone right there.

    So if you would like to produce a profit, (and can be appropriate here):
    a) Reserve your bets and begin gaming w/big positions.
    B) Focus on fundamental market forces to safeguard against altering market conditions and other factors.

  4. #4
    I Concur with Hanover and James16. I add this. If you don't have extreme patience and shield yourself. . .this market will eat you alive.

    So Far as systems. There is nobody perfect system. Find or create. Combine that system with price-action and exercise extreme caution and patience.

    I would say that MOST traders over commerce! My friend... patience.

  5. #5
    I agree but will add one thing.

    systems dont work.

    Methods that are always being refined over time with experience and hard work together with common sense and also a company like approach do.

    Its called the study and developement component of your company.

    No trading egy should EVER go live until it's tested and proven first in the lab.

    That people IS ordinary sense. Traders either figure out that early and endure or they dont. Most dont.

    Jim

    Quote Originally Posted by ;
    I concur with Hanover and James16. I'll also add this. If you don't have extreme patience and also shield yourself. . .this market will eat you alive.

    As far as systems. There is no one perfect system. Loe or create a system that is suitable for you. Combine this system with price-action and exercise extreme patience and caution.

    I'd say that MOST traders over trade! My buddy... patience.

  6. #6
    Quote Originally Posted by ;
    I agree but will include 1 thing.

    systems dont work.

    Methods which are always being refined over time with experience and hard work together with common sense and also a company like approach do.

    Its called the study and developement component of your company.

    No trading method needs to EVER go live until it is tested and proven in the laboratory.

    That folks IS common sense. Traders either figure out that early and survive or they dont. Most dont.

    Jim
    Is price action not a egy? I would say a system is anything that you have refined and works for you. This so called system must incorporate price action, money management and extreme patience.

    James16 maybe we are on precisely the same page....just wish to clarify my input though.

  7. #7
    We are I just always systems with something mechanical.

    Whats a thermonuclear burst to some traders account?
    A mechanical system in a sideways market.

    I guess I made a joke but its no joke to most of us who have gone down that street. Thats traders in a certain stage including me.

    Jim



    Quote Originally Posted by ;
    Is price action not a system? I'd say there is a system anything that you've elegant and works for you. This so called system should incorporate price action, cash management and patience.

    James16 maybe we are on the same page....just wish to describe my input .

  8. #8
    Quote Originally Posted by ;
    I agree but will add one thing.

    systems dont work.

    Methods that are always being refined over the years with experience and hard work together with common sense and also a business like approach do.

    Its called the study and developement part of your business.

    No trading egy needs to EVER go live until it's tested and proven in the laboratory.

    That people IS common sense. Traders either figure that out early and endure or else they dont. Most dont.

    Jim
    In other words optional trading is the thing to do, right? I obtained it. The same thing was explained by once too.

  9. #9
    Quote Originally Posted by ;
    In other words discretionary trading is the thing to do, right? I got it. The exact same thing was explained by also.
    Hmmmmm, discretionary trading. I don't think so.
    I utilize a purely mechanical system that's been working fairly well for me personally, and I don't pay any attention to news or fundamentals.

    Of course you can always http://web.ics.purdue.edu/~ssanty/cgi-bin/eightball.cgi in case all else fails

  10. #10
    Thats great john, really.

    When it continues you have something literally millions of people have been searching to find for almost a hundred years. I have come accross more than I could count that worked for a little while perhaps even a year but they never pass the test of time. The last mechanical method I tried was approximately 3 years ago and its own that which grabbed my attention once I was about to depart after a two minute stop in a new forum called forum.

    I wasnt buying mechanical system but some of the comments peaked my curiosity regarding a place I was doing some research on. I mention that the system but when any old timers here see this they may. It like all mechanical systems was blowing off the doors because of a trending market in the time. People were doubling there cash every fourteen days.

    That mechanical system is what triggered forex factories premature expansion.

    i knew what was coming.

    It came along with the sh@# hit the fan.

    Ive found it a million times.

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

    It was a shame because so many people had such high hopes for it. There were really individuals posting spreadsheets showing how if this lasted they were gonna be billionaires in under five years.

    Once the markets went backward and there was no price associated filter the roads of forum ran red with the blood.

    it wasnt pretty.

    One easy thing can actually make a totally mechanical method work over the long haul. It can keep you out of bad mechanical entrances and re-enforce the decent ones and that's an easy understanding of price action.

    This of course requires the mechanical part out but only barely and it ALWAYS makes anything that its implemented to better.

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

    Jim

    Quote Originally Posted by ;
    Hmmmmm, optional trading. I really don't think so.
    I use a purely mechanical system that has been working pretty well for mepersonally, and I really don't pay any attention to news or fundamentals.

    Of course you can always http://web.ics.purdue.edu/~ssanty/cgi-bin/eightball.cgi if all else fails

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