Exactly. Every simple and not-so-simple system is guaranteed to have been coded into an EA. And, you know what ? Some of these systems may have also been making money FOR YEARS. But not always. Sometime the market will change and you have to have ...

The life of a trading system on Forex Factory

No, discrediting EAs is a scammer teacher's escape route. I can code ALL CLEAR RULES into en EA. If I make an error in coding, or if I can't code a specific rule, then it's my problem. But if I code everything perfectly but the system is not ...

The life of a trading system on Forex Factory

Yes, if your business is to sell low-return or even useless systems. Not if your business is making money from trading. $5000 per day would be an easily achievable goal for some "gurus", according to their own claims, without even running into ...

The life of a trading system on Forex Factory

Most probably there are such systems: 100% mechanical, consistently profitable. And there appear to be several people in this forum who use such systems, even coded in EAs, and ARE NOT willing to share them, money or no money. Now, we have two ...

The life of a trading system on Forex Factory

I don't think so. Show me a system with clear rules and I can make it into an EA. You just have to tell me the rules as you would lay them out to someone you would like to teach. "Apply discretion" IS NOT a rule. It will not be profitable.

The life of a trading system on Forex Factory

Yes, and this is another issue I have with most "profitable systems" that say "keep it simple". Well, if I keep it REALLY simple, I will lose my money. No matter whether it is automated trading or manual trading, "simple" doesn't cut it. What I've ...

The life of a trading system on Forex Factory

No, not at all. What I'm saying is that it is the discretionary element that makes or breaks the vast majority of systems. And those who say "I've been profitable using this system", more often than not do not realize the other elements that have ...

The life of a trading system on Forex Factory

Well, this "undercapitalization" argument comes from people who think that it is totally irrational to expect anything more than eg 20% per year. So they say that you can perhaps live with a starting capital of $100,000, by making $20,000 per year. ...

When to break the 2% rule?

The fact that some people can have astonishing account growth using a certain system DOES NOT mean that: 1) They can continue having the same rate of growth until they make a lot of money 2) They can teach their system to others (even if they want ...

The life of a trading system on Forex Factory

This thread gets the micmic recommendation for highest entertainment value!

The life of a trading system on Forex Factory

Yes, the retracement is an important part in those systems. If you think about it, most entry techniques feature a retracement and a confirmation of continuation. Outside engulfing bars and inside bars can't happen if the previous bar is not ...

Why exactly do EMA crossover systems not work?

You could try to experiment with a system that looks for continuation after a retracement. Eg, look for a touch of the 20 EMA as a sign of retracement, and then enter when price breaks above the previous high, with stop loss below the low of the ...

Why exactly do EMA crossover systems not work?

When I first started testing systems I was amazed at how many ideas would be profitable IF I didn't have to overcome the spread. As you say, your profits are near zero, but you do have some predicting value because you do overcome the spread. Some ...

Why exactly do EMA crossover systems not work?

I don't know why it is so often said that "you don't need to predict where the market will go in order to make money". You do need to predict it. Not with 100% accuracy, but with enough accuracy. This is included in the definition of "prediction": ...

It's A Heart-Mind Game... Are You Ready?

Yes, of course there are more rules. The test on that specific system was with 4H candles in all 28 most common pairs. But there are similar results in most systems I'm testing. Basically I notice the same pattern in all systems that try to catch ...

Why exactly do EMA crossover systems not work?

I was making a general comment and not responding to you personally. In any case, I don't really understand the "I don't believe in backtesting" statement, which I hear pretty often. Even forward testing has become backtesting by the time you start ...

Why exactly do EMA crossover systems not work?

Anyone who has performed a backtest over several years, will know that very very very rarely a system works for a decade, giving consistent profits year after year. MA crosses are no different. And why should they be ? Any programmer with minimal ...

Why exactly do EMA crossover systems not work?

un-overoptimized is the key word here... curve-fitting waits just around the corner (or should I say curve ? )

Are you a consistently profitable trader?

Depends on various things: 1) Are those 200 trades on different market conditions ? Because if they are all during a very bullish and volatile EURUSD month, the situation may change dramatically next month. 2) What is the risk:reward ratio ? Some ...

Are you a consistently profitable trader?

You have to set a failure rate that will cause re-examination of the system. That could be a percentage of lost trades in a specific number of trades, a percentage of lost trades over some period of time, a specific drawdown, etc. Nobody can do that ...

Are you a consistently profitable trader?