Acerinvest

I have tried both EAs and manual trading. I have had the usual infatuation with indicators and I have tried working on PA alone. I have studied breakout strategies, trend and counter trend strategies, candle formations, divergence strategies, scalping and position trading. At the end of all this I really don't know whether I am any nearer THE answer. Is there anyone out there who can geniuinely claim to be making money consistently by trading? I have had periods of success but so often it has been little steps up then lost in a few failing trades. Yes. I am having a good whine! Trading is endlessly fascinating but, please, someone tell me that they are making a living from this. Like the parable, I keeping meeting these wise men. Usually, though, I feel that their solution is to sell yet more useless tools to us mugs.

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.

Hi Mike Like everyone else, I am seeking the Holy Grail of Forex robots and, like most people on this and a gazillion other forums, I am a sucker for the latest greatest thng, whether and indicator such as FX Smooth or robots such as Stealpips, Brilliance etc. etc. etc......... If we are to come up with a successful robot we need tostart from a successful investment principle of which there are many to choose from. The first step here is to decide whether we want something that analyses the hell out of the market to churn out the highest probability trade of whether we go for more of a breakout strategy where we acknowledge that we haven't really got a clue which way the market is going to go but we can manage our way to a profit wichever way it goes. Here, I declare myself to be sitting well and truly on the proverbial fence. Sometimes I do think that I have cracked it with an invincible combination of indicators but usually I then go and blow it or simply get bored and move onto somthing else. Along with breakout strategies I have also tried porfolio strategies with some success on demo accounts but also with scary levels of drawdown. Assuming we can come to some conclusion on this, we then need to consider whether to go for a scalper, day trader or swng trader. Personally, I do believe that longer-term trades are probably more reliable and certainly the RR vs spread are much better but to be quite honest I don't think I have the patience and also you need such a wopping great account balance to trade on long timeframes because of the huge SLs you have to use. So. My bet would be for a scalper, say, aiming for the M15 or M30 TF and going for an analytical rather than finger in the air breakout approach. My favourite indys of the moment are QQE and congruent signals from Kicker indy set to 81,35 and 15. However, I am also using a Slope Direction indy, NewTrend and GannHiLo, a 5/12 EMA crossover and one called ind_RSIColored . What would be your best bet for the ultimate robot?