Is it possible to develop any trading strategy to become profitable? - page 6
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I just like to make 1 thing clear:
there are infinite holy grails in technical analysis
how can i prove it?
1- coca-cola is a holy grail and procedural, anyone with the formula can become mega rich and fast
2- It is possible to discover infinite drinks even better than coca-cola
3- to disprove it, you should not test "all" possibilities, but test infinite possibilities, so its really impossible to disprove it
Apparently the original coca-cola recipe has been available online for an number of years already. Google for it and when you find it post the link here :-)
Dear Micael, You are a very kind hearted and generous person. You really want to help me. Thank you for showing your kind heart and generosity here on this public forum.
You state: "I think your main problem is that you don´t really have a plan."
I always had a trading plan and I always have a trading plan. It was based on MACD and Stochasitic BUY and SELL signals on the M1 for 24 of the 26 months I have been on the Demo platform. Now I don´t even set up the M1. I think it should be banned. I will never set it up again for any financial instrument. I may soon condemn the M2 to that fate too.
I only trade the EuroDollar.
I keep a daily journal. I refine my trading plan almost every day. This morning was no exception. Here is the shortest version of my plan as I wrote it this morning:
TRADING PLAN BUY ON M3 STOCH X BLUE UP PLUS M3 MACD Signal Line Trend UP REVERSAL.
SELL ON M3 STOCH X GOLD DOWN PLUS M3 MACD Signal Line Trend DOWN REVERSAL.
I do not use the default or standard parameters for the MACD and the Stochastic. I have my own parameters for them as well as my own coloured BUY/SELL levels on the Stoch, not the 20% BUY line or the 80% Sell line.
My trading plan additionally includes the 10 crossing the 50 Exponential Moving Average and Trend Channels on all charts, but, only as background confirmation information. I don´t make BUY and SELL decisions based on them. I look at the following charts and update them all the time when I trade: EuroDollar M3, M4, M5, M6, M10, M12, M15, M20, M30, H1, H2, H3, H4 and the Monthly chart. Their thumbnails all fit along the bottom of my screen.
You have to accept that you know very little about my trading.
I do understand only the EuroDollar market and I understand a reasonable amount about trading.
No, I think I have to rephrase that: I don´t understand a great deal about how other traders trade. Nonetheless, I am completely mercenary: I just want to make some money, even if I never come to understand how other traders trade. :-) All I am interested in is refining my trading plan till I can consistently make money with it. And I am getting there.
My signature quality is that I think for myself. The reason for that is a long story. Not for now. Basically, since a 19 year economic research project from 1995 to 2014, I approach all economic activities from first principles. I don´t believe any textbook on anything economic. Including trading.
This is my trading history for this morning: In percentages.
+ 2.56%
- 3.78%
-1.215%
-1.345%
+16.6% Total as at 13.31 my time = +12.82%
I stated before I am now at break-even, more or less.
I make profits every day. I have had 28% profit in one deal. I am not looking for profits here and there. I am looking to make at least 5% per day. I am looking for a profitable trading plan.
I am confident I will get there.
In the past I would almost every day be down by 20% loss 45 minutes after the London open. Now that does not happen any more.
I will reply to the rest of your comments later.
I will write down an example EuroDollar trade to explain the 200 basic pip concept to you.
Thank you for the time you spent on my account. You are a very kind person.
While others are trying infinite possibilities, i just like to make profits...
At the end of the day, they will have figured out what doesn't not work, and i will be a bit richer then yesterday.
There is one thing i can tell you for sure tho, I did not try infinite possibilities, i just pressed BUY, SELL and CLOSE.
Which seems a lot easier to me.
I guess it just depends on how you want to spend your time.
We should look profitability in a yearly basis not in a monthly basis, if your equity curve is constantly increasing every year then you are quite sure that your trading is doing fine, any loses that you experience most recently is just part of the statistics but it wont bother you because you know that you recover soon and make profits over a period of time.
While others are trying infinite possibilities, i just like to make profits...
At the end of the day, they will have figured out what doesn't not work, and i will be a bit richer then yesterday.
There is one thing i can tell you for sure tho, I did not try infinite possibilities, i just pressed BUY, SELL and CLOSE.
Which seems a lot easier to me.
I guess it just depends on how you want to spend your time.
What you say doesn't make any sense, if you just buy and sell with no criteria, your winning chance will be 50%, or 1:1 on the long term, but to be profitable one needs at least 1:3 winning ratio, so
you are not helping anyone with these advices, if you have a criteria to then press buy or sell, then you can share your view, but you are treating us like fools this way
What you say doesn't make any sense, if you just buy and sell with no criteria, your winning chance will be 50%, or 1:1 on the long term, but to be profitable one needs at least 1:3 winning ratio, so
you are not helping anyone with these advices, if you have a criteria to then press buy or sell, then you can share your view, but you are treating us like fools this way
It might not make any sense but at least it's working.
Why don't you try it ?
In stead of the usual assumptions.
Besides i have already told you the criteria:
Practice,
I didn't see this comment. sorry. I guess you're making a headway then. I'm quite impressed. the most important thing about a successful trader (one who will be successful even if he or she isn't for now) is that they find out what's wrong and continually try to improve and become profitable. it's great you've almost reached there. I urge you to continue to believe that you'll get there and you'll get there even before you realise it. all the best and thank you too
Thank you for your good wishes. You are very kind.
Eventually I only made 12% profit yesterday. So, my 7.5% daily profit still seems feasible. Today I´m profitable too. The Euro is going down all the time. And I´m short.
All the best to you too and thank you.
I think that profitable traders do not come on comment sections very often looking for advice, and do not sell any products on MQL website (no matter what they charge, it not worth the hassle of supporting the product vs just making the money on the market). They may sell signals, but thats about it. Of course there are the 5% who do not follow this rule, and all of use are trying to find and learn from them.
What you say doesn't make any sense, if you just buy and sell with no criteria, your winning chance will be 50%, or 1:1 on the long term, but to be profitable one needs at least 1:3 winning ratio, so
you are not helping anyone with these advices, if you have a criteria to then press buy or sell, then you can share your view, but you are treating us like fools this way
True. You cant just go into the market and randomly buy and sell. No matter what you, you would definitely have a criteria for buying and selling.
I think that profitable traders do not come on comment sections very often looking for advice, and do not sell any products on MQL website (no matter what they charge, it not worth the hassle of supporting the product vs just making the money on the market). They may sell signals, but thats about it. Of course there are the 5% who do not follow this rule, and all of use are trying to find and learn from them.
Haha. I agree with you to some extent. So i guess my disagreement would be because of the 5% that do not follow the rule.