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  • 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

  • #2
    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.

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    • #3
      Future is not with any indicators, sysytems and EAs LOL.

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      • #4
        Originally posted by siddeshsd View Post
        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 ....

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        • #5
          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.

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          • #6
            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.

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            • #7
              ................................

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              • #8
                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.

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                • #9
                  any good recommendation of EA around? thx

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                  • #10
                    I trust manual trading compare to EA as we got brain n robot don't Cons, is we got emotions Hehehe

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                    • #11
                      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.

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                      • #12
                        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

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                        • #13
                          Originally posted by E2U
                          Now you are here with the spam. Before you was in Forex Factory. Its shit 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?
                          Last edited by hitescape; 05-01-11, 02:30. Reason: confused about his/her post.

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                          • #14
                            Originally posted by DDD View 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

                            Comment


                            • #15
                              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.
                              Last edited by conglo; 05-01-11, 05:57.

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