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Holy grail means how me translate the markets into a profitable trading. Nothing is permanent. Today I can make money because of simple tools, tommorow I can make profit because of complicated tools. Always changing..
One of the holy grails of forex market is news. You should really read daily news on currency markets and understand them.
Some recent news:
Couple of days ago inflation numbers for euro zone were announced and there are (very probable) speculations that ECB will raise interests because of them. Same time very negative news come from US on all fronts.
So what would you do based on that information?
there is no gainsaying the fact that no system can consistently make money all year round without any hitch.
it is also true true that economic factor in the form of news release usually make nonsense of some forex sytems because nothing is permanent in the currency world.
hence,traders discipline and money mamagement are the real and only HOLY GRAIL of forex trading.
OK, the truth is that the holy grail is controlling your fear (aka having a pair of steel balls).
Some will laugh because it sounds funny, but most people fear success. If you read Ed Seykota, he says exactly the same thing. For the longest time, I didn't understand what he was saying, and I thought he was just being an a-hole and throwing us for a loop.
But as each loss mounted, I slowly understood what he was saying. Consciously, we all want to win, that is why we troll the forums to help us win. But subconsiously, we fear losing. We fear it so much that we tap into our consciousness to find way to make us winners. Always searching the next great system with the high hit rate, the magic indicator, the perfect timing tool and obviously the Holy Grail.
So instead of having balls of steel, and trading for homerun trades, we keep boxing ourselves into ever decreasing boxes, decreasing target profits and increasing stops to make us right. So there it is, if you get it, then you understand what Ed Seykota was trying to say. And he's right all along.
Last analogy, if you are always fishing for little fish in the kiddie pool, you are not going to get too much food even if you catch a bunch of them. You gotta go after the big fish in the big pool, it only comes onces in a while, but that's what pays the bills.
My own holy grail
Hello,
I want to create my own holy grail. I have a system that i'm working on the last 2 years and am preaty sure I have worked out some of its major flaws.
The basics are preaty simple.
I want to create a grid of longs and shorts that are 20 points appart and take profit at 20 points. No stop losses.
Thats where it gets dangerous. as long as the system stays in a range od 300 to 400 points all was fine. But sudden shifts up or down are a killer. First system i lost all my money when the euro droped to around 1.27 (greeks) and then again when it suddenly went well again and it went all they way back to 1,42. (totaly i lost about $350 to $450 I guess) But I learned from it and might have my own holy grail.
The first part is a simple grid buider, but my fail save i need to do by hand, and it is that part i want to automate. Because I firmly believe that an EA can do better in the longrun then a human. But it needs to have a fail save for those spikes.
What i want is that when I go under 200% margin I am atleast 50% hedged. Now im sure i might not use the rigth term so i give an example.
Say I have build up a grid of 20 points appart in 0.1 trades. It goes very well for the euro and it stands at 1.4500. I have 10.1 lots long and just 1.0 lots short. When I go under 200% margin i want the system automaticly open up trades of 0.5 lots short untill it reaches 10.1 long and 5,5 short. If the euro keeps rising it would not cost me as much. Henge I can survive for a little bit longer before going broke. Using this system I have survived all ups and downs this year without going broke.
Now the big question. I am not a wiz in programming, so who could help me automate my dream system? If u are intrested I can better discribe my Idea.
signed, Marloc
I think the reason you haven't had any response is that these types of systems generally fail. In your case, if it keeps going the other direction, you WILL bust. You have no actual "failsafe" to stop the trades. Just because it hasn't happened yet this year doesn't mean a lot, specifically because it only takes ONE time, EVER, to wipe your entire account.
I'd suggest one of two things:
1. There's a thread just for this type of request (I believe it's stickied up above). You post your idea and people will consider making it for you, considering they get to use it too. Look there for better luck, perhaps... However, since no one has replied to your post, my guess is most people don't think it's worth it. In that case:
2. Learn to code MT4. It's actually a lot easier than you think, it just takes time to learn the fundamental concepts. The good thing is that once you know how, you don't need to keep coming back to the board to ask people to code new ideas--you can just do it yourself.
The most accurate patterns and systems
Hello everybody,
I would like to ask you all about 90%+ accurate patterns/systems. I wonder if they are really true ? Is this possible to have 90%+ win rate in trading ?
What are your strongest patterns or systems that gives you these or similar results ?
It can be also multi time frame patterns.
Regards, pretorian1
Hello everybody,
I would like to ask you all about 90%+ accurate patterns/systems. I wonder if they are really true ? Is this possible to have 90%+ win rate in trading ?
What are your strongest patterns or systems that gives you these or similar results ?
It can be also multi time frame patterns.
Regards, pretorian1pretorian1
There are no 90% accurate systems. Whoever tells you differently, is not telling you the exact truth
"90% accurate systems" are a punch lines for those that are selling systems that they have never used, Usual in binary options now (they have to find something to attract people - by now everybody knows that it is a simple betting)
found it
enjoy
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