How are you making money?

I have been through the myriad of commercial EAs with bad RR ratios, the outright scams, taken many expensive classes that are supposed to me trading systems but turned out to be nothing more than chart reading, sooth saying, outright lies so on and so on.

 

I have convinced myself that any consistently profitable EA will not be offered for sale and also confirmed that most of the pay to play sites hosted by "gurus" are just as bad.

 

I can't say how many gigabytes of PDFs I have purchased and read read but still haven't found a reliable system.

 

I am looking for something that has a statistical edge, is based on a sound money management system, doesn't take weeks to materialize, doesn't require $50,000 to cover the draw down, and isn't an Asian scalper, London Breakout, grid, hedge or martingale.

 

There must be something that doesn't use 46 indicators (all saying something different), or depends on the phase of the moon, doesn't requires Gann angles or counting Elliot or Jane waves.

 

If some of the good traders (manual or EA) here be willing to share their knowledge, I am all ears.

 

Many thanks in advance.

 

Dave

I trade a manual system that i develop on my own thru trial and error. And I do not know if I can explain how I really do it. It just works for me.

My suggetion is to work at it till you get it on your own. I had many systems from others that i end up giving away to this forum, because I never felt confortable trading them. I still keep an open mind and I love this forum sharing spirit. I hope this helps.

Future is not with any indicators, sysytems and EAs LOL.

Future is not with any indicators, sysytems and EAs LOL.

 

agree with you, but it helps us a lot, it helps

this forum is wonderful, why do we think we are on track (almost taking the pips) suddenly appears a system that leaves us in doubt. Does such an indicator does not work better than mine?

these are questions that I think most members of this forum to ask.

at least I have asked myself that question.

and it seems I'm finding answer ....

I do not believe you can ask anyone what is the best system for them, you need to fine what fits best for you. Not everyone trades the same way nor will all enter/exit by the same rules. Do not buy anything, most of what you find out there is readily available in one form or another, and its basically all the same ideas in one form or another. If you fine something that you like, demo it for awhile, in both trending and range bound markets to see how it fits your style, and also if its any good. I can only suggest to stay away from indicators that repaints, some can trade with it while others cannot. Do not deal with systems that overly complicate things with tons of indicators, elliott waves, etc., trading does not have to be that complicated to may a go of it.

I have tried some systems and EAs that have made money but most have not. Look at any thread on his forum and one of the first things you will notice is that they all start with a simple approach. Look a few pages later into the thread and see how many indicaors have een added.

 

The best thing I have found is to kee things fairly simple. This could be an EMA crossover say 5/20 periods or even just a 50 EMA looking for long opportunities above and short opportunities below. I also quite lke a Zigzag on 12/5/5 for scalping trades. However, if you have more than say three indicators on your chart that is probably too many.

 

The next stage is to use the strategy tester on MT4 to try out your "system" and develop your insight and trading skills. You will need a simulator which I cn provide if you don't have one. If you cannot make money on the strategy tester you will most certinly fail if you trade live.

 

Like an athlete you must train. Try, for example, trading on the simulator with no indicators at all and learn to really understand price action. The market will do what it will do. All you can do is to ride the ups and downs and bias your trades towards the dominant trend. If there is no trend, don't trade that pair or that timeframe.

................................

I've been trying several different EAs over the past few years. Some of them work for awhile, but all have ended up going into huge DD and wiping out my account.

any good recommendation of EA around? thx

I trust manual trading compare to EA as we got brain n robot don't :D Cons, is we got emotions Hehehe

Here's a suggestion-

 

Download Forex Strategy Builder. Look for it. It's free.

 

Download a trial copy of Forex Tester. Look for it. It's worth the purchase price.

 

Between this software, time and effort you can develop something of your own that will work.

Check out waterskiguy's thread. Takes 5 minutes to learn and you can start earning. And it is free. Oh... it is a manual system, sorry but the only way you are going to make money consistently. Give him some big thanks!!!!

http://indo-investasi.com/showthread.php/10949-5-years-of-work-no-repaint-high-quality-signals-easy

Now you are here with the spam. Before you was in Forex Factory. Its s*** what you are doing. Only collect peoples email addresses. If I get spam from that site I will attack and hack the page. I made mistake and gave my email address and got nothing.

 

Who and what are you referring to?

Edited January 5, 2011 by hitescape
confused about his/her post.

I trade a manual system that i develop on my own thru trial and error. And I do not know if I can explain how I really do it. It just works for me.

My suggetion is to work at it till you get it on your own. I had many systems from others that i end up giving away to this forum, because I never felt confortable trading them. I still keep an open mind and I love this forum sharing spirit. I hope this helps.

 

well if you do not know how to explain your system then you might shot a short movie of a few trades and that should be self explanatory

Please reread post #12.

 

The reason I posted this is because the only trading systems I have that work are MINE.

 

Sure, I spend a lot of time on this forum always looking for ideas and trying other systems, but I have not stayed with any of them.

 

At least for me, I know how I want to trade and I know what I have experienced in trading; that experience and experimentation eventually leads to something that is MINE (yours); something you are comfortable and confident with.

 

I believe you are better off investing in tools that will allow you to develop YOUR trading method, whatever it is, rather than spend countless hours and $$ doing anything else.

 

95% of traders lose money and 95% of traders all believe the same things.

That means the 5% who succeed are doing something DIFFERENT.

 

Question EVERYTHING you have been told about trading. Most of it is BS.

After all, who is making up the "rules"? Either the 95% group or the weasels who want to sell you something.

 

Current conventional trading thought could be compared to the Middle-Age notion that the world is flat.

 

Dare to defy convention, think for yourself, think SIMPLE.

 

If you stop listening to the BS you may discover you're a genius.

Edited January 5, 2011 by conglo

I am looking for something that has a statistical edge, is based on a sound money management system, doesn't take weeks to materialize, doesn't require $50,000 to cover the draw down, and isn't an Asian scalper, London Breakout, grid, hedge or martingale.

 

Many thanks in advance.

 

Dave

 

If you know what you are looking for, than finding it is rather easy. Do you know what

edges are available to a trader? If you don't, then you won't know a system that has one if and/or when you come across one. Do you know what truly constitutes sound money management? If you don't, then you will not be able to fully take advantage of any trading edge you may possess. It is easy to "want" lots of things, a profitable trading methodology included, but no one who has it is going to hand it over to you for nothing. The work required to become a consistently profitable trader is as time and effort consuming as any of the higher-level professional occupations out there ( doctor, lawyer, etc..). Put in the time and effort, deal with and learn from the frustrations, and the results will come. They won't come from a 5-minute post to an internet forum, that much I can guarantee you.

Well said.

 

If you know what you are looking for, than finding it is rather easy. Do you know what

edges are available to a trader? If you don't, then you won't know a system that has one if and/or when you come across one. Do you know what truly constitutes sound money management? If you don't, then you will not be able to fully take advantage of any trading edge you may possess. It is easy to "want" lots of things, a profitable trading methodology included, but no one who has it is going to hand it over to you for nothing. The work required to become a consistently profitable trader is as time and effort consuming as any of the higher-level professional occupations out there ( doctor, lawyer, etc..). Put in the time and effort, deal with and learn from the frustrations, and the results will come. They won't come from a 5-minute post to an internet forum, that much I can guarantee you.

To answer your original question, "How am I making money?", the answer is, I work for a living at a JOB.

 

Am I making a living by trading? No.

 

I have some irons in the fire that look pretty good, but I'm a long way from trading Forex as my only income.

I'm getting closer (I think), and that's after 20 years and thousands of hours and $$$.

 

The only systems I would trade are the ones I have developed over time. They are all manual and long term.

 

Would I trade an EA for income? Never. I would only manually trade.

EAs are for entertainment. Much better than TV.

Shows you how bad TV is.

Edited January 7, 2011 by conglo

Well said conglo,

 

The thought never crossed me but those who advice never listen to their own advice.

Thank you, but I rank among the guilty.

 

Well said conglo,

 

The thought never crossed me but those who advice never listen to their own advice.

any good recommendation of EA around? thx

 

Do not depend too much on EA. Long run and destroy all your profits

Guys,

 

Let's be honest - we all have spent thousands of hours testing everything what is on the market and what this forum has to offer. I have not seen even one thread that would say - look - I trade this way - I consistently make this money. Follow the steps exactly as laid out and you will end up with the same results.

 

I believe we should have all deep reboot and forget about all the indicators and Eas.

 

I think the questions is simple - "show me the money"

 

IS THERE ANYONE WHO HAS A SYSTEM THAT WORKS - and WE CAN USE IT TO TRADE FOR LIVING!

 

 

Jack

Hi Guys, my point of view is that. If you are bright and the one who success to create a good and safe strategy or a good ea. Normally, you will not sell it, if you sell it, the first reason must be to make a better capital to start trading more securely your own ea. But before if your ea is really really good, you have to encrypt the ea, that mean money to pay for this work before to sell it. web site cost. If you sell your ea, at these price like 99.99$-79.99$-129.$ etc. The price tell you don`t buy me, am cheap and my program is poor, made so poorly that you can pratically change nothing in the setting. That`s the kind of ea that a baby can use at 10 year old.. you can continue!!! Theses kind of sentence in theses scamwebsites are very commun.

 

When the creator of an ea show a visual strategy tester on his website and for a period minimum of 3 to 12 month in a row (non stop video). That`s will be a proff that you maybe have an ea or a program that have big possibilities. But surely not mean at 100% that you have found the jackpot, because, the best ea have sometime period of crash or anyting. The only way, we can survive in this forex world is to use a combinaison

(combo) ea and brain, start your ea only in x condition of the market, if your ea make some mistake, open manual trade and follow theses trade. I think we need a minimum of 5000$ to start trading in a micro account to lower the mental effect. and never trade more than one percent for your starting lot size. If your can lower do it. If possible the creator will give the possibilitie to copy his trade for a fixed period before his product will be on sell. Every one will be able to copy his trade for free, after that, if every one make money, the price of the ea will be higher, like 1000$-2000$-3000$-5000$, but all the folower will have seeing the result along the copy period given by the creator of the ea. Just my 10 Cents lol

 

I work personnaly on my own ea, near 3 year of spending money on. When he will be ready, i will show all of this, Visual strategy tester on video, the more long i can, (this will depend on size possibilité on youtube or other website to show the video, or in a shared link. i will too, offer my signal for free for a period between one to three month, before release my product and his price, when i will start, my web site will be complete, and if i have the money for it, i will pay for a minimum of 10 language traduction website, and in the future the ea will be traduced in theses 10 language too. And much more. I work to make my ea workable from 25000$, maybe 5000 $, minus if possible. Will talk more in this forum when finish only. best regards.

 

just a strategy tester of 01 dec 2008 to 29 dec 2008 for the moment with my ea, when drawdown program created i will see if my ea can be a winner on the long run. but only after..

 

image http://www.mediafire.com/i/?040dfmj1uywpcra

 

direct link http://www.mediafire.com/imgbnc.php/ed92e7eea365ae63e0b16d633f80566041d7d3f4a1b5573a9cbbefcdae2d82dc6g.jpg

 

bye

I like your thought, Its really best for earning profit..

I was thinking to start a weekly cooking show, but I want to do this for the income... So, I am wondering subscribers to you have to have before you can make any kind of income from advertisers.. Do help me please...

 

www.bestbuyseattlehomes.com

Edited April 2, 2011 by sweetyy

The human brain beats EA any day. To be truly successful you have to learn to trade yourself.