Need Trade Strategy
Členem od Sep 29, 2010
2 příspěvků
Sep 30, 2010 at 08:20
Hi guys.
I have been trading for about a year now.
I made a loss of quite some cash,and I want to get back to profitability.
I need a serious comeback strategy.
You can view my trade history and current open positions.
Any ideas?
Thanks.
I have been trading for about a year now.
I made a loss of quite some cash,and I want to get back to profitability.
I need a serious comeback strategy.
You can view my trade history and current open positions.
Any ideas?
Thanks.
forex_trader_18574
Členem od Sep 18, 2010
18 příspěvků
Sep 30, 2010 at 19:06
I have one thing to say, cut your losses.
Why do you keep losning trades open for so long? Do you have an exit strategy for SL and TP?
Why do you keep losning trades open for so long? Do you have an exit strategy for SL and TP?
Členem od Sep 08, 2010
46 příspěvků
Sep 30, 2010 at 23:50
I'm sorry to say that, but your strategy was probably NEVER profitable. It only seemed so, but it wasn't.
Systems with the absence of stoploss usually seem profitable for several months, but they are a time bomb just like systems with martingale money management and other insanities.
First off, try to apply a stoploss on your historical data and see if it would remain profitable (I personally doubt that). If yes, bingo, just use a stoploss. If not, you should just start over and find a strategy WITH a stoploss.
Systems with the absence of stoploss usually seem profitable for several months, but they are a time bomb just like systems with martingale money management and other insanities.
First off, try to apply a stoploss on your historical data and see if it would remain profitable (I personally doubt that). If yes, bingo, just use a stoploss. If not, you should just start over and find a strategy WITH a stoploss.
A hard thing about business is minding your own.
Členem od Sep 29, 2010
2 příspěvků
Oct 04, 2010 at 06:23
Thanks PensionsKongen and Martin.
I need to work on the exit strategy and stop loss that you are talking about.
I will review my strategy and see how it pans out.
Thanks guys!
I need to work on the exit strategy and stop loss that you are talking about.
I will review my strategy and see how it pans out.
Thanks guys!
Členem od Jun 07, 2010
82 příspěvků
Oct 13, 2010 at 02:43
you always have a stop loss.. even if you don't put one. The stop loss that is always with you is called.. Margin Called and after October 17 for every trader that trades in USA will only trade 50:1 leverage so there is the stop loss. I think the biggest problem is not having a good strategy that enables you to profit even with out the stop loss.
There are some traders out there with some good strategies but my advice is keep loosing and try some new things until you find what gives you success.
There are some traders out there with some good strategies but my advice is keep loosing and try some new things until you find what gives you success.
Grace is the greatest thing ever!
forex_trader_7
Členem od Aug 01, 2009
941 příspěvků
Oct 13, 2010 at 03:49
There are strategies out there. Like 20 pip daily: https://daily20pip.com/ea/
Or do a search for New York open time strategy.
But following them means you'll never develop as an a trader. If I stuck to something like that I'd still be doing 20 pips a day. It's the journey that's important. Not the destination.
This environment is always changing. Unless you know the craft whatever you do will stop working at some point and you won't recognize the change till it's to late.
Or do a search for New York open time strategy.
But following them means you'll never develop as an a trader. If I stuck to something like that I'd still be doing 20 pips a day. It's the journey that's important. Not the destination.
This environment is always changing. Unless you know the craft whatever you do will stop working at some point and you won't recognize the change till it's to late.
Členem od Oct 02, 2010
8 příspěvků
Oct 13, 2010 at 11:05
In Forex trading losses will always be there but it is how you manage them. Far too many trades open at the same time for my liking, but may be that works for you. I'd prefer at most two trades open at the same time if I really had to. I always open one trade at a time. I have also noticed that at times you opened some short USDCHF and EURUSD trades at the same time. Interesting to hear what other people think, although they closed in profit I generally tend to avoid that because of the negative correlation between the pairs. Watch the USDPJY and EURJPY, they have nice swings but they can leave you high and dry with poor money management. Sawa sawa mzee?
Členem od Oct 20, 2010
13 příspěvků
Oct 25, 2010 at 06:00
(Upravené Oct 25, 2010 at 06:03)
You can check out my strategy :
<a href='https://www.myfxbook.com/files/RebelMartin/KissMethod.jpg' target='_blank'><img src='https://www.myfxbook.com/files/RebelMartin/KissMethod.jpg'/></a>
I also giving out a free manual system strategy if you subscribe my Newsletter.
Also recruiting people who want a mentor to guide them write their own simple EA too.
Or you smart enough, also can self learn in the build EA template given.
<a href='https://www.myfxbook.com/files/RebelMartin/SmallBook.jpg' target='_blank'><img src='https://www.myfxbook.com/files/RebelMartin/SmallBook.jpg'/></a>
Check out my webpage at footer link below.
<a href='https://www.myfxbook.com/files/RebelMartin/KissMethod.jpg' target='_blank'><img src='https://www.myfxbook.com/files/RebelMartin/KissMethod.jpg'/></a>
I also giving out a free manual system strategy if you subscribe my Newsletter.
Also recruiting people who want a mentor to guide them write their own simple EA too.
Or you smart enough, also can self learn in the build EA template given.
<a href='https://www.myfxbook.com/files/RebelMartin/SmallBook.jpg' target='_blank'><img src='https://www.myfxbook.com/files/RebelMartin/SmallBook.jpg'/></a>
Check out my webpage at footer link below.
Přílohy :
Členem od Apr 13, 2010
83 příspěvků
Oct 25, 2010 at 09:22
i knew some internet marketer would show up😁
winning isnt victory and losing isnt defeat.
Členem od Oct 02, 2010
8 příspěvků
Nov 02, 2010 at 07:02
(Upravené Nov 02, 2010 at 07:05)
rubionfunds posted:
i knew some internet marketer would show up😁
You bet. But it is all about common sense and sifting what you think works from smoke screens
Členem od Feb 01, 2010
11 příspěvků
Nov 03, 2010 at 15:44
Yep! Completely agree with Chikot!
Trading without Stop Loss isn’t trading… it’s the “hope I’m lucky today” strategy, more like going to a casino and make a hot chick kiss the dices... It’s like playing Tennis without the net or the court lines… Simply no sense at all!
Trading it’s all about taking decisions, we take decisions based on facts not on hopes, if the price broke a support level and had retested it as a resistance the fact is that the price SHOULD drop once again... that’s the reason why we decide to sell, if the price do not drop and go bullish… then the reason is invalid and so the trade, that’s why we use a stop loss.
And for new traders, a strategy will never make you profitable… It’s like if you ask Michel Jordan for advice on choosing the right basket ball to become a NBA Star.
First things first, you need to know the rules of the game (market basics: what moves the price in Fx markets, order flow, support and resistance) then play the game following the rules.
They are a lot of strategies but they all have the same basic concept, price action.
Learn the basic concept and you will find the strategy that fits your personal psychology.
And that my friend (friends), is the big difference between the 90% of losers and the 10% of winners, 10% knows what they’re doing, 90% don’t have a clue!
Trading without Stop Loss isn’t trading… it’s the “hope I’m lucky today” strategy, more like going to a casino and make a hot chick kiss the dices... It’s like playing Tennis without the net or the court lines… Simply no sense at all!
Trading it’s all about taking decisions, we take decisions based on facts not on hopes, if the price broke a support level and had retested it as a resistance the fact is that the price SHOULD drop once again... that’s the reason why we decide to sell, if the price do not drop and go bullish… then the reason is invalid and so the trade, that’s why we use a stop loss.
And for new traders, a strategy will never make you profitable… It’s like if you ask Michel Jordan for advice on choosing the right basket ball to become a NBA Star.
First things first, you need to know the rules of the game (market basics: what moves the price in Fx markets, order flow, support and resistance) then play the game following the rules.
They are a lot of strategies but they all have the same basic concept, price action.
Learn the basic concept and you will find the strategy that fits your personal psychology.
And that my friend (friends), is the big difference between the 90% of losers and the 10% of winners, 10% knows what they’re doing, 90% don’t have a clue!
Členem od Jun 07, 2010
82 příspěvků
Nov 04, 2010 at 17:17
I created a simple strategy.. my thread is here https://www.myfxbook.com/community/new-traders/simplest-forex-strategy/63720,1
Grace is the greatest thing ever!
Členem od Aug 01, 2010
104 příspěvků
Jun 08, 2011 at 21:49
The tip is there are no tips.
Study and study hard again.
If you don't know what you are doing it's very dangerous.
No matter if you win or lose when you don't know for sure why that happened, you may have lucky believing that is talent.
There are a lot of good books out there, find those that will help you become a better trader.
I love Point & Figure, ADX and ATR, that's because I know when they work and why.
My library is allways getting bigger, no matter the experience I have.
I'm always looking to the past,and to the next future 10 years at least.
All that help me trade day by day and keep me on the tracks.
Have a nice study.
Tradingboy
Study and study hard again.
If you don't know what you are doing it's very dangerous.
No matter if you win or lose when you don't know for sure why that happened, you may have lucky believing that is talent.
There are a lot of good books out there, find those that will help you become a better trader.
I love Point & Figure, ADX and ATR, that's because I know when they work and why.
My library is allways getting bigger, no matter the experience I have.
I'm always looking to the past,and to the next future 10 years at least.
All that help me trade day by day and keep me on the tracks.
Have a nice study.
Tradingboy
I Trade You Profit. Forex is suitable for smart and patient people...
forex_trader_43716
Členem od Aug 06, 2011
345 příspěvků
Aug 09, 2011 at 21:50
I have used Ichimoku Kinko Hyo for about 18-months and it works for me. I combine IKH with Heiken Ashi and MACD, and apply to 1-hour and 4-hour timeframes. My stop-loss is set just below the Kijun Sen (uptrend) or just above (downtrend), and this trails the Kijun Sen. Exit occurs if stop-loss is hit, or Tenkan Sen crosses the Kijun Sen. Heiken Ashi colour helps time my entries, whilst MACD confirms. At first sight IKH appears complex, but it is actually a very simple method to use. Want to learn about IKH? Check the link below:
https://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page
Don't you just love free information of this quality?
https://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page
Don't you just love free information of this quality?
forex_trader_27988
Členem od Jan 26, 2011
1367 příspěvků
Aug 10, 2011 at 06:53
i could also use a decent strategy.
thank you.
thank you.
Členem od Sep 28, 2011
16 příspěvků
Sep 29, 2011 at 17:22
as a new trade i am also looking for some good indicators and system too... anyone pls give me some ideas
forex_trader_34364
Členem od Apr 18, 2011
239 příspěvků
Oct 08, 2011 at 19:10
i have to say : bravo
you are holding this account with manual trading for a year now. that is not a thing that every trader could do. and you increase your balance up to 70%.
your problem now is that u have a very big DD , you should use hedge and martingale system together for avoid big DD , (if u dont using Stop losses)
when you are getting a signal from your manual strategy , instead of SL use sell stop (same Lot) in buy orders or (buy stop) instead of SL (same lot) in sell orders , to hedge your trade , in case of the market goes the opposite direction. hold trading until next signal , and increase your lot size twice , also use hedge order instead of SL. in this method you can always manage your account and avoid losses and DD.
for example take look at to my live system which uses the same thing.
https://www.myfxbook.com/members/daily_martingle/wallstreet-real-pamm-system/141429
you are holding this account with manual trading for a year now. that is not a thing that every trader could do. and you increase your balance up to 70%.
your problem now is that u have a very big DD , you should use hedge and martingale system together for avoid big DD , (if u dont using Stop losses)
when you are getting a signal from your manual strategy , instead of SL use sell stop (same Lot) in buy orders or (buy stop) instead of SL (same lot) in sell orders , to hedge your trade , in case of the market goes the opposite direction. hold trading until next signal , and increase your lot size twice , also use hedge order instead of SL. in this method you can always manage your account and avoid losses and DD.
for example take look at to my live system which uses the same thing.
https://www.myfxbook.com/members/daily_martingle/wallstreet-real-pamm-system/141429
forex_trader_34364
Členem od Apr 18, 2011
239 příspěvků
Oct 08, 2011 at 19:14
sudip02 posted:
as a new trade i am also looking for some good indicators and system too... anyone pls give me some ideas
i have many systems , let me know your E-Mail address and i will send you a few good systems. its good to start with
Členem od Oct 09, 2011
1 příspěvků
Oct 10, 2011 at 07:33
@Bijan,
Please send it to my id too.
Please send it to my id too.
Členem od Sep 20, 2011
5 příspěvků
Oct 11, 2011 at 18:19
to Bijan,
i am interested in too, if you have time send me please your advise about the systems.
Thank you a lot in advance
JB
i am interested in too, if you have time send me please your advise about the systems.
Thank you a lot in advance
JB
