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What was your "holy grail"?

  • #61
  • Jun 1, 2017 2:51am Jun 1, 2017 2:51am
Quoting TudorIoan
{quote} Wrong, market moves only on: - import-export flows; - monetary policy decisions (involving economical and financial data); - "Big Dogs" speculations; Period.
Ok, so it is random then, or these move the markets?

By the way all these influence supply and demand, the policy, the big dogs and all that, it all comes down to supply and demand imbalance eventually. You just keep proving how little you know about the markets. You say it is random, now you say it is moving because of this and that, I'm crying.
Price and volume reveals everything. The market moves on supply and demand.
  • #62
  • Jun 1, 2017 9:13am Jun 1, 2017 9:13am
Quoting HeyYou
In order of importance: high leverage intelligent compounding something that has to do with pyramids edge does it make sense ?
Funny, I recently took a trade in where I applied a pyramiding method... it worked GREAT in my favor but my problem is my exits. I had 10 positions opened and I kept waiting for more profits to come in, damn I really should have exited when I could with a nice amount of pips hauled in. I was +850 pips until it started to reverse on me, and as you know... pyramiding is one of the best ways to exponentially double, or triple your profits but vice versa... once price reverses, your profits can disappear as quickly as you are profiting. I believe if you position correctly and don't get GREEDY while pyramiding, you can realize some great profits. Just know when to exit and enter at the right time, as for me I was greedy and kept trying to squeeze some more pips. The trade turned out to be pretty ugly and it turned out to be a small loss.
  • #63
  • Jun 1, 2017 9:15am Jun 1, 2017 9:15am
Quoting forexer801
this seems to be a fascinating thread. in my experience, the " holy grail "is a bit like quantum particles (double slit ) it looks different depending on your point of view. I never set out to make a holy grail, I set out to make a somewhat safe EAs, I'm always losing capital in the markets but I'm also gaining a lot more then I'm loosing for some this is not the holy grail and yet for me ,I am happy. Also, Ganative slow down on the salt perhaps eat a potato.
Man, I'll calm down when everybody else can learn to stop being shitty. LOL
  • #64
  • Jun 1, 2017 9:17am Jun 1, 2017 9:17am
Quoting FairTrader
Momentum. Trend.
Yes. Momentum and trend is both very crucial in having the odds on your side. But trading with the trend is not always the answer... people think trading with the trend automatically means they're going to be in profit. So I am glad you mentioned momentum. For an example, suppose the trend is bullish, are you going to buy in when price is having a huge retracement? The key is to enter when momentum is joining in, towards the overall trend.
  • #65
  • Edited 9:41am Jun 1, 2017 9:20am | Edited 9:41am
Quoting TudorIoan
The market is totally random. There is no solution for randomness Don't think you will "feel" the market when you will have enough experience ...is impossible. You will have a temporary success then failure will come again. Don't try to "read" charts! Only thing you can do is to master a money management scheme. GL!
You sir, are very naive. If you believe the market is completely random, then what are you even doing trading? What is your method then??? Are you just entering and exiting as you please? If you believe it is random then obviously you do not have a system, so you're just giving your money away, or gambling it away. If you stop over complicating things, you may see some patterns... just look to the left.
  • #66
  • Jun 1, 2017 9:32am Jun 1, 2017 9:32am
Quoting WolGod
Interesting gamative. Do you trade everyday? Or the 3 days a week? So what risk/reward per week do you consider success? AND what risk/reward are you experiencing per week? 2:1, 3:1??
I used to trade everyday. Monday-Friday, I would wake up at 3AM for the London open. try to catch some pips, take a quick nap, and then wake up at 8AM for the New York open. Honestly, this is just stupid. That was a painful experience, I lost so much sleep it wasn't even funny. AND I traded when I was exhausted, sometimes causing me to manifest unclear trades. But I soon realized that if you just develop a system in which you can check at your own leisure, that's the best way to trade.

I had no risk to reward ratio each time I entered a trade. The market is dynamically changing each day and there are always different circumstances. If you limit yourself strictly to a fixed rule of how many pips you are willing to lose, it may not end too pretty. Well, you can do that... just position your trades correctly. If you are setting a stop loss and it gets hit every time, well that means you are risking too much and setting your stops too close.
  • #67
  • Jun 1, 2017 9:49am Jun 1, 2017 9:49am
Quoting Darastonius
{quote} Ok, so it is random then, or these move the markets? By the way all these influence supply and demand, the policy, the big dogs and all that, it all comes down to supply and demand imbalance eventually. You just keep proving how little you know about the markets. You say it is random, now you say it is moving because of this and that, I'm crying.
Isnt it funny how people don't really think before they speak? Then they continue to bash and assume the market is this way, or that way but their argument contradicts their point altogether.
  • #68
  • Jun 1, 2017 10:08am Jun 1, 2017 10:08am
Quoting Ganative
{quote} Funny, I recently took a trade in where I applied a pyramiding method... it worked GREAT in my favor but my problem is my exits. I had 10 positions opened and I kept waiting for more profits to come in, damn I really should have exited when I could with a nice amount of pips hauled in. I was +850 pips until it started to reverse on me, and as you know... pyramiding is one of the best ways to exponentially double, or triple your profits but vice versa... once price reverses, your profits can disappear as quickly as you are profiting. I believe...
It has its pros and cons... great compounding but as you say, at some point you end up buying tops and selling bottoms. that's why it's important to diversify.

It is indeed useful after a MC.. that's definitely pyramiding time.
  • #69
  • Jun 1, 2017 10:18am Jun 1, 2017 10:18am
Quoting Ganative
{quote} Yes. Momentum and trend is both very crucial in having the odds on your side. But trading with the trend is not always the answer... people think trading with the trend automatically means they're going to be in profit. So I am glad you mentioned momentum. For an example, suppose the trend is bullish, are you going to buy in when price is having a huge retracement? The key is to enter when momentum is joining in, towards the overall trend.
Nothing new ... but something like this.
Sorry for the drawing
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The funniest, is that nobody takes me seriously.
  • #70
  • Jun 1, 2017 3:35pm Jun 1, 2017 3:35pm
Quoting cat
I disagree completely with the last poster, and this is why. The market is not random. If it was, it would be impossible for any single individual to profit consistently from it, which is clearly not the case. For the retail day trader, it is all about reading charts, and eliminating the psychological factor here for the sake of clarity, it is only about reading charts. Now to answer the main question. I posted one response to this thread, and it was just to say in answer to the question, " What was your holy grail ", that " I was ", my holy grail....
Cat,

Spot on.
  • #71
  • Jun 1, 2017 3:39pm Jun 1, 2017 3:39pm
Quoting 4for4
If there's one thing every trader should realize is that the market can't do anything else but changing directions from the smallest tick-by-tick movements to the small minutes-hourly-daily swings, up to the bigger weekly-trends and monthly cycles ... The randomness is applicable to the timing of the changing-period, i.e., of the when it will happen, but the change-of-direction itself will surely happen ... Learning to identify trend-reversal patterns is an appropriate thing to do to be able to ride a new trend as early as possible ...
Sometimes it's best to not even try to catch the reversal of the trend as early as possible, catching tops and bottoms can be dangerous... Sometimes it's better to catch the meaty center of the trend.
  • #72
  • Jun 1, 2017 3:40pm Jun 1, 2017 3:40pm
Quoting 4for4
{quote} (If you're asking me) ... In some months I can open up to 5-6 trades a month, but there are some months where I can't open any trade because the patterns aren't there at all (or I might miss them) ... On average, my trade-frequency is about 2-3 trades a month ... As for the RRR, I always use 1:1 initially to calculate the TP but then I'll use Trailing-SL once the trade is going in the intended direction ...
Are you trading the daily charts?
  • #73
  • Jun 1, 2017 4:49pm Jun 1, 2017 4:49pm
Quoting Ganative
{quote} You sir, are very naive. If you believe the market is completely random, then what are you even doing trading? What is your method then??? Are you just entering and exiting as you please? If you believe it is random then obviously you do not have a system, so you're just giving your money away, or gambling it away. If you stop over complicating things, you may see some patterns... just look to the left.
There is no right or wrong opinion. There are many methods and some are unique and are unable to comprehend. My holy grail was when TudorIoan prove to me his logic and my team spends months to create this random EA (no equity float) I do trade if without EA looking for supply and demand zones. All trade works, to each his own.
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Self discipline It is a practice
  • #74
  • Jun 1, 2017 7:39pm Jun 1, 2017 7:39pm
Quoting Ganative
{quote} Are you trading the daily charts?
Yes, daily chart backed by higher charts for directional reference ...
Market is not random but unpredictable
  • #75
  • Jun 1, 2017 7:50pm Jun 1, 2017 7:50pm
Quoting Ganative
{quote} Sometimes it's best to not even try to catch the reversal of the trend as early as possible, catching tops and bottoms can be dangerous... Sometimes it's better to catch the meaty center of the trend.
Not trying to catch top/bottom, but trying to enter the new trend on its first "confirmation", i.e., on a breakout of a trend-reversal patterns (after a top/bottom was formed) ...
Market is not random but unpredictable
  • #76
  • Jun 1, 2017 9:11pm Jun 1, 2017 9:11pm
Quoting Redeflect
{quote} No, you don't need to code a program to see it. It's actually pretty obvious when it happens. You just have to know what you're looking for.
you misunderstood me. i dont mean that you need a special software in general but for this particular strategie.
its a mathematically approach and not a technical one. there are alot of holy grails and you dont have to go the mainstream way.
  • #77
  • Jun 1, 2017 11:23pm Jun 1, 2017 11:23pm
Holy Grail doesn’t exist in Forex! But, it’s true in my beginning stage of trading I was looking for 100% success ratio! But now I am not, my personal trading strategy provides me 70-75% success ratio, in addition I try to recover my losing trade positions by using strong money management and risk management policies!
  • #78
  • Jun 1, 2017 11:41pm Jun 1, 2017 11:41pm
There was no Holy Grail for me. Just hard work and a lot of sleepless nights. I don't think there's such a thing as a Holy Grail in Forex.
  • #79
  • Edited 3:04am Jun 2, 2017 12:14am | Edited 3:04am
Quoting Ganative
{quote} You sir, are very naive. If you believe the market is completely random, then what are you even doing trading? What is your method then??? Are you just entering and exiting as you please? If you believe it is random then obviously you do not have a system, so you're just giving your money away, or gambling it away. If you stop over complicating things, you may see some patterns... just look to the left.
Maybe I used the wrong word.
Maybe I've looked to the left too much and I saw too much patterns ...but unfortunately, their frequency to develop themselfs up to your profit target ...is random

(never mind, I will never repeat that word random to that guy in your avatar photo,
because he just couldn't believe in randomness, as the most famous quotes is, "God does not play dice with the universe.")

...and maybe that because I've back-tested hundreds of systems on the long term history, systems wich were praised to work excellent...
The tests showed the market is changing behaviour in some unexpected manner, so no method can last too much to such an unpredictible environment.

BTW, in any of our analyzes we, as traders, we don't predict, we just dealing with probabilities.

My conclusion after many years of thorough testing is that any possible technical strategy has 50% chances to be successful on the long term.
You can draw/observe patterens, S/Rs, S-Ds, TLs, Channels, indies (they all lag), ...all of them approaches have 50% to win for the long term.

What is your method then???

If you read more careful my post:
"...the only thing you can do is to master a money management scheme"

Ok, don't ask what that mean (okshop trader offered a sample above)
Member
  • #80
  • Jun 2, 2017 12:15am Jun 2, 2017 12:15am
Quoting mlawson71
There was no Holy Grail for me. Just hard work and a lot of sleepless nights. I don't think there's such a thing as a Holy Grail in Forex.
Absolutely, there is nothing like Holy Grail in Forex business! In addition, surely you are on the right track! Keep it up, no doubt end of the day you’ll be a successful Forex trader if you can continue with the same momentum! Best of luck!
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