Agree totally...Quote:
Originally Posted by ;
Vegas system is based on the price always coming back the mean... This is precisely why his system will work in almost any major market since the machine is based around PRICE nothing over that. It works better in some markets than others, things like OJ or Electricity work flawlessly since the factors surrounding the commodity have an effect on his or her system. IE when the price of Orange Juice becomes too costly, people switch to apple juice. So the price in essence is tagged to the mean in various ways, perfect for his or her system. A platform and egy ought to be based on functioning in all markets along with you eduion. I think that fibs and fad trading both have merits and use both of these on a daily basis and work very well and are profitable. The important thing that a lot of people forget when they're fad trading in Currency Market is that they base it on a daily range forgetting the people that own the market do not trade that manner. Bank traders are trading on a intraday basis, so you trend trading platform needs to be based on that. Too beat your enemy you first must think like him The best way to concentrate on isn't if Vegas system works or not at the present market, but that fact that it is a well thought through,plausible structured approach to trading which consistantly derives profits.Quote:
Originally Posted by ;
I disagree.... Have a look at the weekly chart on cable over the last 4 decades, the market is always trending. Remember that Currency Market is similar to almost all other markets is that it is actually traded 24 hours per day and concequentally from the very definition a market in a market in a market (individuals trading only the week chart, only the 15 min chart, 1 hour chart etc ) so with this very definition it's a market that's trending within other markets. Just because the specific system you are using says that it not trending does not mean that somewhere within a different time period somebody else isn't investing in a fad. .Quote:
Originally Posted by ;
I really don't think it is, I think that it is the mark of a legitimate trader. There are 2 sides to the coin, for somebody starting out, how do they actually know that's has changed and also to use the other system till it was over. For me personally it was the break in the fashion line to the upside down on the cable on the weekly chart, I knew that the market would be moving for long for an adequate amount of time. But that's me in years of expertise, but to the average man with 12 weeks under his belt wouldn't understand. So using 2 different system at different times would end up having the benefits of and loosing faith in the system. It is wise for the new man to stick with his system which for a few weeks or what ever looses him pips but keeps faith in the machine, so that once it's all over his gets back to normal and starts to consistantly make profits .Quote:
Originally Posted by ;
My 2 cents worth, hope I haven't upset anyone, wasn't meant to be like that.
Joyful trading
Bear