Whats your opinion on the most important aspects of a trading system
Členem od Jun 24, 2020
4 příspěvků
Jun 28, 2020 at 02:01
Most important thing is statistics and logging everything you do and its results so you can see areas of optimization. Rather than trying to force your SL/TP (RR/DD) on the market. Statistics (logging each trade with as many data points of reference as you can gather and comparing results) will tell you everything you need to know on how your strategy will survive in the long-run, what factors you can stretch and still profit, etc. Believe in statistics because that is actually how the market works.
Day after day I pray the market away
Členem od Jul 20, 2019
373 příspěvků
Jul 01, 2020 at 13:54
kc8yty posted:
Sharp ratio?
RR/DD?
Profit factor?
Expectancy ?
Stagnation?
Z score?
Or combinations
Here's my suggestion when having a look for systems on Myfxbook:
1. Broker:
Is the connected broker reliable? Is the broker well-known and regulated by good regulators (like FCA, BaFin, FinMa, IFSC, NFA, ASIC (only for Australian traders!), ICB, ...). Keep in mind: VFSC and FSA are not regulators for international brokers (it's just a company license not a regulator's license)!
Why? Because there might be some faked results being shown on the connected myfxbook system pages. Brokers come and go, they can be just created to show fake (to good to be true) results to possible clients and to scam them with faked EAs or PAMMs at the end.
Another good question could be: Is the system working with other (good) brokers aswell? or: Can the system really work with my already used broker?
2. Drawdown:
The max. account drawdown needs to be lower than 20%. If it's higher than 20% the system creator should definitely can explain it, like with a short spike, a testing period at the beginning (with a small deposit) or something like that. Also have a look on the DD charts by yourself, not only on the number on the left side of the system (click on custom analysis and check the 'open time' box in 'timing' for a better analysis).
3. History:
Have a look on the history, to get to know if the system creator is using only low risk (low lot sizes and not much trades per day if no SL/TP is being used, or a good/low SL if higher lot-sizes are being used).
That's it. All the other numbers are not really interesting, just showing you how your results could be if you'd use the exact same system/deposit/trades/broker etc.
patience is the key
Členem od Jun 08, 2020
30 příspěvků
Jul 02, 2020 at 05:35
make your OWN opinion and your OWN rules.
everything else is not for you.
One can not make a discovery by reading already printed material ..
everything else is not for you.
One can not make a discovery by reading already printed material ..
Členem od Oct 07, 2019
47 příspěvků
Jul 02, 2020 at 13:25
(Upravené Jul 02, 2020 at 13:25)
VabenMaria posted:
make your OWN opinion and your OWN rules.
everything else is not for you.
One can not make a discovery by reading already printed material ..
so true. i read a lot of material, but pointless. even demo doesn't help
Členem od Oct 23, 2019
8 příspěvků
Jul 02, 2020 at 13:31
Two things will point north to any trading journey.
1. Live trade
2. Lower your Lot size
Never give up your quest. There is a wonderful lifestyle at the end of your trading journey but it will take 10,000 hours...
1. Live trade
2. Lower your Lot size
Never give up your quest. There is a wonderful lifestyle at the end of your trading journey but it will take 10,000 hours...
Členem od Apr 06, 2020
2 příspěvků
Jul 02, 2020 at 13:38
It shouldn't take 10,000 hours to become profitable.....
But...before you think I am trolling you PipRaider, I do understand the philosophy behind your reasoning! Also, I am not advocating 'Don't study' either.
I could teach most people to read and understand a chart with simple support and resistance and a couple of other useful little niblets of advice in about a week.
Psychology and risk management are way more important to becoming a successful trader. Just my take on it :-)
But...before you think I am trolling you PipRaider, I do understand the philosophy behind your reasoning! Also, I am not advocating 'Don't study' either.
I could teach most people to read and understand a chart with simple support and resistance and a couple of other useful little niblets of advice in about a week.
Psychology and risk management are way more important to becoming a successful trader. Just my take on it :-)
Členem od Apr 04, 2020
57 příspěvků
Jul 16, 2020 at 06:10
It is interesting to read the situations that occur with this or that trader in relation to certain brokers.
Členem od May 18, 2020
9 příspěvků
Jul 16, 2020 at 09:59
Exits. An exit strategy is more important than an entry strategy. So many people just think that settings TP is an exit strategy. It is not. You need to close early if price shows that it will reverse
Členem od Oct 23, 2019
8 příspěvků
Jul 16, 2020 at 10:03
EXIT is uber important until you exit you’re still swirling around the plug hole of loses...😎
Členem od Oct 23, 2019
8 příspěvků
Jul 16, 2020 at 10:38
Using a driving analogy:
The gas or accelerator pedal - you entry
The brakes - your exits
The dials and mirrors are your indicators
Lot sizes - the fuel octane
The engine - the market
The steering wheel - stop losses
The gas or accelerator pedal - you entry
The brakes - your exits
The dials and mirrors are your indicators
Lot sizes - the fuel octane
The engine - the market
The steering wheel - stop losses
Členem od Jul 17, 2020
2 příspěvků
Jul 18, 2020 at 12:07
damunwa posted:
...there was once a mechanic who went to visit a client having problems with his very expensive 4 color printing machine. The mechanic looked at the machine, walked around it a couple of times. He took out a listening rod and listened to the machine in a couple of places. Finally he went to his bag, took out a delicate little shiny hammer. He went to a specific point at the machine and with a determined and crafted poise he struck the point with a very precise and calculated hit. Instantly the whirling machine sounds changed and there was a more melodic tone in the air. The machine started spitting out copy after copy at very precise intervals of time. The machine was fixed.
After a few discussions and suggestions from the machinists the invoice was handed to the owner. The owner looked wide-eyed at the amount to be paid. It was a bill for $1320.00.
“You were here for less than 30 mins” said the owner “How do you rate that then?”
The mechanic raised his head from the pad from which he had just written the invoice and looked at the owner.
“Well” he said.
“There’s 20 dollars an hour. And there’s 1300 dollars for my experience in knowing where to strike the hammer “
It’s the knowing where to strike the hammer that’s important in most endeavors.
In trading this is the equivalent to the knowing where to exit in trading.
The exit matters the most.
We don't compete We dominate
forex_trader_476239
Členem od Nov 19, 2017
39 příspěvků
Jul 21, 2020 at 00:08
Tuxedo888 posted:
divinamarine
Stay with it.
Thank you
Členem od Jun 02, 2020
7 příspěvků
Jul 21, 2020 at 07:43
kc8yty posted:There are lot of important factors in forex trading. Risk management is an inevitable element in arsenal of successful trader.
Sharp ratio?
RR/DD?
Profit factor?
Expectancy ?
Stagnation?
Z score?
Or combinations
Real Profit Expert Advisor
Členem od Feb 22, 2011
4862 příspěvků
Jul 21, 2020 at 08:17
The most important factor is indeed stability.
If you have system that has consistent results for years that is sort of Holy grail
I have seen many systems that were like comet, going up fast as hell for a while and then BOOM.
If you have system that has consistent results for years that is sort of Holy grail
I have seen many systems that were like comet, going up fast as hell for a while and then BOOM.
Členem od May 13, 2020
128 příspěvků
Jul 27, 2020 at 02:58
I also think that stability is a guarantee that you are really doing everything right.
forex_trader_476239
Členem od Nov 19, 2017
39 příspěvků
Oct 24, 2020 at 10:19
togr posted:
The most important factor is indeed stability.
If you have system that has consistent results for years that is sort of Holy grail
I have seen many systems that were like comet, going up fast as hell for a while and then BOOM.
Vontogr, Thank you for the reply. I have also concluded that the mathematical standpoint of degrees of freedom is an extreme important factor - therefore factors in with the stability of the system
Členem od Oct 05, 2020
40 příspěvků
Nov 04, 2020 at 09:24
There are several aspects of a good trading system. Risk management and stability are to name a few. It should have a good risk management strategy and there should be stability in profits. This will ensure growth sooner or later.
Členem od Oct 07, 2020
29 příspěvků
Nov 05, 2020 at 07:06
Consistency and stability are two of the most important aspects of a trading system. They can serve as indicators about your performance and will tell you how you are actually doing. A good risk management technique will also contribute to the different aspects of a trading system.
Členem od Oct 12, 2020
38 příspěvků
Nov 06, 2020 at 12:05
Forex trading gives you chances to improve over time. Staying stagnant might keep you from making better trades.
Členem od Oct 15, 2020
1 příspěvků
Nov 09, 2020 at 19:53
Multiple factors play and determine if you will make money. The 3 most important things about trading which you need is
*To be able to manage your emotions and have a good headspace
*Perfect money management (VERY IMPORTANT)
*Entries and everything that falls into that category. Risk Management, Exiting, NEWS AVOIDANCE, etc
So my overall opinion is that there isn't one thing that you treat more important, Many things determine how your system will perform if you dint have Money management but your system and psychology and trading entries and so forth are good but you don't have any money management you won't make no money long term.
You get the point I'm sure so make sure everything up to standard and you will be making consistent profits
*To be able to manage your emotions and have a good headspace
*Perfect money management (VERY IMPORTANT)
*Entries and everything that falls into that category. Risk Management, Exiting, NEWS AVOIDANCE, etc
So my overall opinion is that there isn't one thing that you treat more important, Many things determine how your system will perform if you dint have Money management but your system and psychology and trading entries and so forth are good but you don't have any money management you won't make no money long term.
You get the point I'm sure so make sure everything up to standard and you will be making consistent profits
Practise Makes Paper
