What kind of system are you using?

I've talked to some traders that work for few years now (successfully) about their trading systems.

All of them said me the same thing.... First, you try to find best custom system

and at the end you get back to basic indicators. I've also returned to that as they said.

My opinion is that you can't become successful trader over night by just

finding great custom system, for that you need at least a year working with the same system.

Custom systems work one time and other time they just don't.

This is my conclusion:

"Large" traders use basic indicators (especially Fibonacci) and they move the market.

You just need to see market trough their eyes (use same trading analysis) and play by the rules.

Re: What kind of system are you using?

i don't use any indicators, i'm watching the market and try (successfully) to get the feeling how the markets goes....

sorry for my bad english...

Re: What kind of system are you using?

i don't use any indicators, i'm watching the market and try (successfully) to get the feeling how the markets goes....

 

sorry for my bad english...

You trade only on feeling or is there a little more?

Your English is good Latsoc :D

Barbara

Re: What kind of system are you using?

I either use EAs and trade manually. I usually try to find promising EAs in forums and tweaking them to fit my style and expectation. As for manual systems, I design and develop systems to my need, they are usually systems for short time frames...

Re: What kind of system are you using?

thank you indo-investasi... now i become a better trader...

Re: What kind of system are you using?

After my 6 months at this forum i also found out that basic indicators really are the best.

It's not like we're smarter that traders which work 5+ years. They all use simple indicators as

pivot lines, fibo, trend lines, bollinger etc.

If you're still trying out more custom indicators, then you aren't even on

1/4 of the way to become long term successful.

Custom systems work depending on market conditions.

Basic systems work in any market condition but they need a lot of practice.

I consider custom systems "shortcuts" which lead nowhere at the end.

Re: What kind of system are you using?

your right, it is all about the individual trader.................. It's price action for me :D

Re: What kind of system are you using?

my preference is for trading system that favor Price action analysis and/or trading. To my Knowledge wolfewaves focuses primarily on Price action analysis and trading.

Are there any other trading systems that focus primarily on Price Action analysis and trading ?

Re: What kind of system are you using?

I only use EAs as I do not have the time to trade manually. I am still looking for one that will make money constantly.

Re: What kind of system are you using?

Back to the basic for me

I use EMA, Stochastic and heiken ashi, plus pivot and fibonacci.

Re: What kind of system are you using?

I'm using custom created system.

Re: What kind of system are you using?

@mandreke: How long has it been since you added new indicator in your system?

I've been changing my system every 1-2 weeks until I've given up and returned to basic indis.

Re: What kind of system are you using?

With all these systems with colorful charts and bells and whistles, I cannot trade with them, I always get conflicting signals that I do not know when to enter. The best thing is to go back to the basics instead of trying to find the Holy Grail, there are none. If you watch the market long enough, you will see certain times when you can easily grab PIPs and then get out without a loss. I typically grab 20 PIPs with a standard account during the London Session [5:30AM EST] within 5-10 minutes then I am done for the morning before I get ready for work.

I will never trust an EA, easily to blow your account especially if you have not demo'ed it long enough. I see some EAs that starts trading against the trend which is not good, it will blow your account easily. If you do use an EA, be sure to monitor it and hopefully there is MM built into it.

Re: What kind of system are you using?

After complete fiasco on my side (and burning my account to zero), I decided that I will diversify.... So now (and for the last 6 months successfully) I am combining my manual trades (which are all trend following trades (min few weeks - and no more daytrading that got my first acct wiped), with EAs (megadroid) and with some hand picked signals (free, from rent a signal).

I did some due dilligence on forex trade signals, but there are not many that work out of the box for metatrader platform, or i dont like their lack of transparency / interest / price.... So if you want to know more about RAS see my forex blog: http://forex-trading-on.net/2009/09/23/automated-forex-trade-signal-for-metatrader-platform/

Re: What kind of system are you using?

Price and Volume are the Best indicators, then add support and resistance and finally some trendlines

Re: What kind of system are you using?

Price and Volume are the Best indicators, then add support and resistance and finally some trendlines

Amen \m/

Well.... you can check volume only with bollinger. Many people were searching for better volume indicator

but such indicator doesn't exist because forex isn't centralized...

Manual analysis and trading isn't that hard as most people here think. You just need a lot of experience.

After 6-7 months of using technical analysis and basic indis, you'll never ever look back on custom systems. 8-)

Re: What kind of system are you using?

not true,

I like shi-silvertrend signal and signal line also one good non indicator is angle of candle

Re: What kind of system are you using?

I've found my own unique way of trading. I use trend lines, supports and resistances and one more indicator combination

which is very powerful (I found that combo by myself, only clues on net). Most people post on this forum systems that should earn you 50+ pips

per day and enable you to make more than 10 trades per day (ironically, it seems that you don't even need experience

at all to trade with them, system does everything for you).

Actually, most people don't find them profitable at all. If those holy grail systems don't seem to be profitable, why don't you

try those systems that need a lot of work but at the end you will earn, not as much as people claim here, but you will earn.

Those who really earn on forex have no time to be on forums trying systems because they know their system works

They spend their time enjoying their life, not finding ways to earn more pips, they simply use larger lots.

95% people in forex lose... then... why is it so easy to find profitable systems on net as people who post systems here claim (ask yourself why do you lose)?

Be creative = )

Re: What kind of system are you using?

Hi folks,

I used martingale system but blew up my account. Now I realized how important good money management is. Never risk more than 2% of your account.

Most indicators lag but you can still be profitable if you use good mm and discipline.

Re: What kind of system are you using?

Those who really earn on forex have no time to be on forums trying systems because they know their system works

That's really true. For vast majority of people in the forex market, the search for the holy grail goes on everyday. I don't know if really profitable traders are in this forum, but the fact that they are using simple indicators and price action may not be true. Profitable traders do have an edge over others and this could be because of having tools that others don't have.

Re: What kind of system are you using?

Doms,

Please share your system with us on the forum, who knows it might help someone become a better trader due to your kindness.

I've found my own unique way of trading. I use trend lines, supports and resistances and one more indicator combination

which is very powerful (I found that combo by myself, only clues on net).

Re: What kind of system are you using?

 

That's really true. For vast majority of people in the forex market, the search for the holy grail goes on everyday. I don't know if really profitable traders are in this forum, but the fact that they are using simple indicators and price action may not be true. Profitable traders do have an edge over others and this could be because of having tools that others don't have.

Thats wrong, I like and I use inly easy indikators and systems and that profitable. The key is experience, not the counts of indikators.

Re: What kind of system are you using?

 

Thats wrong, I like and I use inly easy indikators and systems and that profitable. The key is experience, not the counts of indikators.

My meaning of the tools does not necessarily indicate more indicators. Information is a tool and is key to win trades. There are many key information: Fundamental outlook, broker volume, inside information etc.

Re: What kind of system are you using?

That's really true. For vast majority of people in the forex market, the search for the holy grail goes on everyday. I don't know if really profitable traders are in this forum, but the fact that they are using simple indicators and price action may not be true. Profitable traders do have an edge over others and this could be because of having tools that others don't have.

 

Thats wrong, I like and I use inly easy indikators and systems and that profitable. The key is experience, not the counts of indikators

I agree with the latter post, within the context of trading, edge is meerly a cognitive derivation. Everything needed to be successful is right in front of you, the only additional tool is your mind. Trading is based on a very simple raw data (OHLC/Tick data) and as such one can perform an unlimited array of mathematical functions or graphical representations. Just because they are possible does not mean they are right or make the situation any clearer. For me, in trading, less is more(occlam's razor).

Re: What kind of system are you using?

Ahoy!

Which MetaTrader platform does support the most instruments to trade????

Thx,

L.