The Really Useless System
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thread: The Really Useless System

  1. #1

    The Really Useless System

    The inspiration:
    I'd love to get my holly grail, which I will follow and trade from live account. I am hoping to be a full time trader from my cash after. I'd love to be displaced and remain in a car introduced http://www.dailymail.co.uk/news/arti...st_read_module and do a few caritative events. For me personally it's a big difference in helping people with a fish or teaching them to ch the fish, not everybody will love to learn, most of idle people will prefer the fish only.

    I have calculated with 1000 base currency account, every month 15% gain it's over 1 million at the 50th month. At August, I do not need to trade, same round New Year, therefore 10 month / year, theoretically can be done in 5 years. 15% should be sensible, but I have traded lower timeframes that most of the time. I am aware that it's going to be drawdowns and once I shed and when I can not trade, and need money and that I will withdrawn, but this really is my goal: about 10-20%, exactly what market offers: no forced trade, no bank loans, periodically add founds, if is possible while I have daily occupation.

    The Reality:
    In history there was/are a few traders who made hundred of countless nothing. Http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore, http://en.wikipedia.org/wiki/George_soros and several more. Like not everybody become F1 world champion who has driving permit, I do believe after a few years of research and experiments could I become finally full trader and get from http://www.cashflow101game.com (operating from 9 to 5 to pay another month bills)

    That can be one individual company, it's ideal who has problem with communiion, people and disabilities of proceeding and who do prefer to remain at baseline and do nothing with a little irony. I think all old appliions engineers ( over 10 years of expertise ) are ideal candidates to become forex traders. And studying this and performing over 10-15 even 30 years, should be greater than anticipating the pension from private or state. People that are managing your private retirement exactly what they do with your cash? -investments?

    It is a company, it isn't a job. It does need to invest money to live from it and occasionally can you loose even with holy grail in hand, since it's a business. In every kind of company: should you choose higher risk, than greater are the payoff, lower risk, lower possible rewards there are greater periods and there are worse, although even on worse period should pay my bills.

  2. #2
    This biz is about 20% skill 40% money management 40% managing yourself your own emotions.
    I'm not sure on those proportions, but in my experience that money management has about that importance as the ability.
    With trade ability if it's possible to grab trades 95 percent:5% win lose ration ( really good) using a bad money management or simply does not raising the account optimised, or perhaps is going in negative! -even with that high win rate!

    Managing myself and emotions, well, I have a weakness here. I believe he describes other article, which was similar to that: traders are payed to have patience - for entry and exits, or cut your loses and let the profit operate, not precisely the reverse, what Idid in couple past weeks: TP asap and let the losers come back - isn't a good feeling when a winner commerce turn around and become a looser one, which was my reason to shut it at first sign of weakness, or an imaginary sign. -need to alter it.

  3. #3
    Now the daily chart it appears nicely trending.


    Monday low volume anticipated, a few larger traders are entring Money-Tuesday and depart Friday, German Ifo Business Climate news release maybe provides a push from EU players and NY will follow that, even safer for enter is the Tuesday ECB President Draghi Speaks event. Remember those, that moves the price how they feel, explained here

    I will attempt to input this days ( to late I woke up, but better now, than never) and ch some daily candles, also now stick with my position until I do not see it is the trend weakening / over.

    Until the price wont reach the HH (1.3200) I will not add new dimension to my position, I will not correct the position, I will prefer to stand out by SL.

  4. #4
    Time frame:
    Jesse said something about nobody can guess each movement of the price, but on large waves are the money, -can not loe where exactly it's -

    Input:
    Also in his view should be start to input in complete position when the trend confirmed (the previous trade has shown profit).

    Exit:
    It should remain until the trend gives sign of above, again should search where is says.

    It's nothing regarding the two type of indiors: fad follower and oscillators.

    Something about the very first and also the 7th wave /candle? Are the most expensive, maybe that http://en.wikipedia.org/wiki/Robert_Kiyosaki told, for me it doesn't matter anymore who.

    Probably can be found a dozen of indiors and which clarifies the subsequent thing, maybe a lot of systems are written based on those indiors and George Soros has that similar theory, but used other words, but mine it's:
    The currency pair is similar to generating energy as time passes. When it isn't consumed ( no movement ) than it'll burst ( breakout ), if needed a to large movement than it has to be pushed hard by an event ( external energy source ) or simply it was an artificial movement and it'll bounce back. A fantastic trend forming description I've found http://club.ino.com/lessons/psy.htm. I would like to enter in full position trade after D, near E, once the price is over C ( backtested and reached) out following K point in the event head and shoulders patters fulfilled, if double shirt, than following second shirt, if is beginning to fall. Occasionally it's observable once the fad has no more energy, than it will accumulate (small ranging movements) and explode in either way.

    Money direction:
    He used something very substantial risk, likely that is why he had been bankrupt a couple of times. I am not prepared to follow his example here, since I have / had to considerably losing trades(and I've corrected my positions, what a fault...).
    His principles can be found http://tradingsim.com/blog/jesse-liv...ey-management/.

    The Broker:
    Dukascopy doesn't meet my requirements here, as: has http://www.dukascopy.com/swiss/engli...nts/overnight/ in evenings the maximum leverage it's http://www.dukascopy.com/swiss/engli...counts/margin/, and just to many http://www.dukascopy.com/swiss/engli.../fee-schedule/ has.
    Probably I want to return into Oanda and utilize they horrible softwares, unless a fantastic broker is suggested, which has decent mobile and desktop softwares.

    If somebody can suggest for me a sensible broker ( min 3 years old, however I do prefer over 5 years, no imitation spikes, fees everywhere, enormous spreads, etc...) with free API I would create open-source mobile software to that broker! Android hdpi, xhdpi screens, and iPhone4 platforms I would target. Http://www.villman.com/Product-Detai..._emd250-01G16i has 1000x600 resolution and no dedied GPU (considerated as desktop platform by broker), I can not know why the hell can not be used the same software features on 960x640 device with GPU(considerated as mobile platform by broker)! I believe that it is not the trader job to resolve the broker platform and make it usable, however once I wanted to improve it and I've references for mobile development too, so able to perform it. Oanda's Android platform (v 2.0.1) doesn't let me to change the TP, SL amounts, they're sick!

  5. #5
    I've found a lot of gurus here, most of they after the how to be guru in 10 steps described here.

    The 10v is not fair, but I'd like to get rid of those comments, from who has no visible proof of grooving balance or experience.

    It's only one more useless system, thread, not mandatory everybody here.

  6. #6
    Today went a bit farther down the price.

    since you can see todays candle isn't so powerfully as Thursdays one that can be sign of weakening, but I believe it's because of Monday and half quantity is traded just. Tomorrow will be an event:
    ECB President Draghi Speaks. If I am not busy and should will return the price I will go with they, around 1.2750 should we have any bull candles. In the event the price will go up, than that I will stick out and whatch what electricity has and likely enter within the next day only.

    I think my monthly target is pushing to create trades. Somewhere it's great, because if I am not trading for sure I will not understand and for sure I will not earn, but I will not lose. Staying away rather than risking anything for all those possible 200 pips, or possibly a new trend it's not sounds wise. I'll try with arould 50 -70 pip SL and 0.5-1percent (maximum ) risk.

    My demo_mt4 commerce explorer has 25 trades, which have been traded to try something different. I return to demonion and exchanged those 25 trades to test the position correction. It looks like profitable on short word, on longer duration it isn't. I've discovered why also, but this is another story and can be found in this forum. For starters it's great this technique: to reveal in short term you are profitable. In long term it will be a huge drawn down, just have to accumulate more consecutive corrections and once you margin will call you.

    I wished to search where exactly it's the excuse, and I got an intriguing http://www.google.com/search?hl=enso...ex trade myths. From a smart, old guy I know: first look who's telling, than what's telling. Keep in mind that, when read those trade myths, also.

  7. #7
    I could not resist to not fix my -30 pip position I have added another brief when I saw the price up but doesn't have enough steam yet. I'd luck or right? And the price went down together with around 35 pip.

    As I can see has no power to push upward, and not enough to push down, I wished to reduce the risk as much as I could. For that reason I wished to close 1 position. It was Oanda's decision which one (FIFO) -want to change the broker- About another opened commerce I have marked as secure 15 pip from 35.

    Later:
    the price touched the 1.2900 round amount and here are several touch and could not skip the 1.286, I saw no major drive to drive and that I wished to bank my profits, so I have closed the next trade too. I do believe in 12h it can bounce back like 50 PIP and fearful to hit my SL. Better stay a way somewhat until it is going to decide where will go the price. 50 PIP within my pocket is far better than 5 PIP(if stopped outside ).

    It's a diminished low or almost? I can put a Sell Order about 40-50 PIP from here, in the event of Asia session will push upward.

  8. #8
    I saw it is shing the AUD/USD. I did a scalp with two lots, about 1:17 leverage, I was hoping in 4-8 pips obtained 4.6 pip, 0.7% return, which is? 71.33 I wish it was real money

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  10. #10
    I had been in a resort with my Android cellphone, Internet over 3G. I could not wait and see, examine how is going, the number of pip more is expected to move, so I have closed early with secure pips.

    Monday:
    Around London open I saw the EUR/USD went a lot, like 60-100 pips?
    I tough that is a speculation motion simply, no major all-natural astrophe or political shift, so I bet against the now movements: all short. Thus far so good, scalping in lesser interval in direction of higher interval...

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