Does anything really work?
Dear @arcazia
There is no need to try and reinvent the wheel.
It has all been done before.
You just have to find and implement some of the many proven principles.
Whenever there is something that works, it will leave a trail throughout history.
You can look for this, and pick up on it.
And then if you implement it in the exact manner it was designed,
Then there exists a mathematical certainty that you will also have to become successful.
Hello everyone,
I've spent the last few months learning Forex in the usual way: charts, demo accounts, indicators and programming EAs in MQL.
I am here to learn and realise that I will never be as smart, nor code as well as others here who upload their ideas and EAs.
But I look at all the uploaded EAs and the comments and debates and I worry.
Surely if there was a profitable EA here, we would know about it and it would be recommended and people would share their profitable results.
Am I wasting my time chasing rainbows?
Why is there no consensus as it is surely an objective matter of what method works with what data.
I ask sincerely and thanks if you take the time to reply.
Paul.
Do not double post.
I have deleted your duplicate topic.
Hey there arcazia, don't lose hope, you already have enough patients to be on demo, why not read candlestick charting by Steve Nison for basics and YTC Price Action by lense berg for a strategy? Try doing that mate.
Thanks for your reply. I understand the basics of price action and indicators and can program simple EAs. That's not really my question.
If there are EAs that produce reliable profit on a particular data set, why is there no evidence of that on this site?
There are very many uploads of free code and pay EAs, but they are all variations on similar themes and there is no evidence that they produce
much profit. If it were possible, people would be shouting from the rooftops. On the general web, paid EAs seem to be mostly scams.
My question is really: Is anyone making much profit from these methods?
Thanks, Paul
Thanks for your reply. Walk forward optimization (Pardo, 1952) is a method for optimizing pararamters given a strategy.
I'm asking the more basic question of whether there exists worthwhile strategies?
Thanks, Paul
You will get it eventually if you don't quit. You are lucky now that you have all the resources available to you in the internet. When I started in 2002, I was in the Philippines and internet connection there at that time was not that good. The broker required me to go to their office to trade and deal over the counter :(. My first 10 years were frustrating but I didn't quit. I even started to research how to automate my plan when I heard that it's possible, so it could run while I'm at the job. Next few years were good but not always profitable. but of course, once you discover a good trading plan, the next good trading plans become easy to discover.
No consensus because in every successful trading plan not every trader can become successful on using it, and those who really discovered a solid trading plan that can be replicated easily by other traders are not shared. Not shared because those who discovered it are not willing to share as they spent so much money and time on it. It's just my 2 cents.
You will get it eventually if you don't quit. You are lucky now that you have all the resources available to you in the internet. When I started in 2002, I was in the Philippines and internet connection there at that time was not that good. The broker required me to go to their office to trade and deal over the counter :(. My first 10 years were frustrating but I didn't quit. I even started to research how to automate my plan when I heard that it's possible, so it could run while I'm at the job. Next few years were good but not always profitable. but of course, once you discover a good trading plan, the next good trading plans become easy to discover.
No consensus because in every successful trading plan not every trader can become successful on using it, and those who really discovered a solid trading plan that can be replicated easily by other traders are not shared. Not shared because those who discovered it are not willing to share as they spent so much money and time on it. It's just my 2 cents.
I agree, you just need to focus on simple profitable trading method, then develop other way, like EA. I merely like you, about 6 months learning and practicing demo and i focused in oscillator and moving average, studied the behavior of those indicator and find the way they can make profit for me. I especially like RSI for oscillator indicator, you can find your own simplest profitable trading method and develop them to make consistent profit for you, at least that's what i'm trying to do, keep up!
I saw some people make great profit in competition (even reach 2000% in 2 weeks) or in signal (that you can choose any of them to follow) and most people believe that trading yearly give consistent profit about 20% is good enough in safe trading method.. Good luck.
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Hello everyone,
I've spent the last few months learning Forex in the usual way: charts, demo accounts, indicators and programming EAs in MQL.
I am here to learn and realise that I will never be as smart, nor code as well as others here who upload their ideas and EAs.
But I look at all the uploaded EAs and the comments and debates and I worry.
Surely if there was a profitable EA here, we would know about it and it would be recommended and people would share their profitable results.
Am I wasting my time chasing rainbows?
Why is there no consensus as it is surely an objective matter of what method works with what data.
I ask sincerely and thanks if you take the time to reply.
Paul.