We CAN NOT predict the market ! - page 4

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trustfultrading #:

Then I apologize ;D just hang in there, trading works

Hmmm.. I'm still looking for a profitable strategy. None seems to work for me 
 
How long are you on the search?

Every trader has heard about the ichimoku indicator, but very few know the story behind it, and the fact, that it is a full blown trading system with high accuracy. In fact it has been developed by one man and he dedicated more than 50 years of his life on creating this system. He passed away in the early 80s.

If you don't have any system, learn that, it's composed of multiple aspects, and they all have shown to work up to today.

It will take you quite some research to get hands onto it, but I am sure, if you dedicate enough energy and time, be relentless, you will be successful.

Else, another approach to building a system can maybe be the no nonsense forex channel on YouTube.

He brought a whole community up with his channel, lots of people believe in his proposed way.

But, stay away from all the YouTube Channels that "propose" successful strategies. Believe me, none of them work. I have literally coded 50 of them. All fail. No exceptions. Really none.

It is a good start to have solid understanding of trading as a prerequisite. Like having understood margin, the different asset types, the types of orders, filling modes, and so on.

Allot of details you need to have understood, next to having a good strategy.

And Btw, it all starts with how you want to integrate it into your life. One hour a day? An afternoon per week? Find your timeframe, define your dedication level.

Get a demo account, learn the basic maths for margin and volume. Understand the assets and their differences. Forex is totally different from Gold or Crypto, Oil behaves different, stocks, ETFs...

What are Futures?

And if you are interested, what and how do options work?

And if you are in the US, understand FiFo.

As you study all of this, and play around with a few demo accounts, build your strategy, learn and understand it.

As a hint, expect to blow the first 3 accounts. Every successful trader has his blown accounts. It's mandatory, part of the game.


 
Goldland360 #:
Hmmm.. I'm still looking for a profitable strategy. None seems to work for me 

How do you test a strategy to be able to say it's not working?

 
Dominik Christian Egert #:
How long are you on the search?

Every trader has heard about the ichimoku indicator, but very few know the story behind it, and the fact, that it is a full blown trading system with high accuracy. In fact it has been developed by one man and he dedicated more than 50 years of his life on creating this system. He passed away in the early 80s.

If you don't have any system, learn that, it's composed of multiple aspects, and they all have shown to work up to today.

It will take you quite some research to get hands onto it, but I am sure, if you dedicate enough energy and time, be relentless, you will be successful.

Else, another approach to building a system can maybe be the no nonsense forex channel on YouTube.

He brought a whole community up with his channel, lots of people believe in his proposed way.

But, stay away from all the YouTube Channels that "propose" successful strategies. Believe me, none of them work. I have literally coded 50 of them. All fail. No exceptions. Really none.

It is a good start to have solid understanding of trading as a prerequisite. Like having understood margin, the different asset types, the types of orders, filling modes, and so on.

Allot of details you need to have understood, next to having a good strategy.

And Btw, it all starts with how you want to integrate it into your life. One hour a day? An afternoon per week? Find your timeframe, define your dedication level.

Get a demo account, learn the basic maths for margin and volume. Understand the assets and their differences. Forex is totally different from Gold or Crypto, Oil behaves different, stocks, ETFs...

What are Futures?

And if you are interested, what and how do options work?

And if you are in the US, understand FiFo.

As you study all of this, and play around with a few demo accounts, build your strategy, learn and understand it.

As a hint, expect to blow the first 3 accounts. Every successful trader has his blown accounts. It's mandatory, part of the game.


Very informative. Many thanks for the great advice!

"Don't predict. Plan. And perform." :)
 
John Winsome Munar #:
...
"Don't predict. Plan. And perform." :)

Yes,

I agree with you :)


 
trustfultrading #:

How do you test a strategy to be able to say it's not working?

You backtest it in a thousand manners a thousand times with a thousand variables and periods of time. When you think it is the one, deploy to a demo account for 5 months, if it didn't yet burned your account start micro account real cash and test it for another 6 months, if it didn't yet burned your account you can start a business with real cash

 
Yohana Parmi #:

Yes,

I agree with you :)


Nice illustration
 

There are plenty of traders who show with live trading webinars, that they can predict market movements.

It is a question of the approach. Many traders do not know market (e.g. CME) and economic rules (some use even algorithm-patterns of great banks for sculping), so they roll the dice to get their system. Some have luck and some not. But if one uses the rules in his system he can get good win-propabilities without the need of luck.

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