It is quite possible for a newbie to make profits. However, comprehensive research & retail broker data evidently states that only less than 1% of traders can really make profits.
The problem, thus, don’t lie in the difficulty but in the way the average trader move towards trading. However in the end, trading is regardless of the market and is like a profession. You would not be expecting to watch some YouTube videos to become an expert. You cannot read a few articles and be ready to trade.
If you actually want to follow the path, it should not be for money, but because you have passion for it. The path to be a consistent trader can be a long one. You may experience frustrations, setbacks and the times when you would want to quit.
The best you can do is admit that the professional trader usually take years and you would need to treat it like business and a skills would help you to develop.
... i came to the conclution that intead of pointing out over and over again repeadingly the same things which are important in trading- to give the people what they truly want:
A methode to financial sucess in trading...
That's a lot of time and effort you've put in to help folks out Turbo. Well done!
Hi there Nero and thanks for your effort and time spent on this thread.
I would love to test the tool you are talking about (most probably I will do it manually too, because I don’t trust the strategy tester). Please do share out of your experience, if testing on Demo will give similar results to what you have tested in Live (I assume you are doing it on live account), or live conditions are needed?
sorry for my late answare. I can not tell you this since i never traded demo accounts in my life. All i did was always live accounts.
I do backtesting on paper only, and i think that paper backtesting is more accurate since you can take into consideration volatility much easier.
id be happy seeing a backtest on a demo account. would be very interesting.
Seems that you have an interesting system that I will try from next week on my life test account.
I have a few questions:
How did this system perform last year during the Brexit vote and US election day ?
I haven't had the time to look at all charts in details because I'm working on an indicator that calculates the High and Lows during past 5 or 40 trading days and calculates the position size. Will probably post it here when ready if you allow it.
How does the EURUSD perform with this system ?
Is this a pair that you are trading at the moment or are there more interesting pair such as gold, usdjpy ? Those are making nice waves over the past year.
I'm a little bit confused about the SL of the 40 day system.
Suppose we had 3 bad performing trades with the 5 day system, then we need to switch to the 40 day system.
SL in middle of High and Low. I checked a few charts. We can have then a SL of more then 500 pips.
So we will have a very small position size.
When our pending order gets triggered a few days later we need to follow the rules again of the 5 day system to change our SL every day.
Aren't we going then to a very small SL (5 day low), compared to the one of the 40d system ?
Why start with a big SL to have it changed the next day into a small one ? Or am I reading something wrong ?
You wrote that we can have only 5 active trades at one moment.
Suppose we follow with this system 10 to 15 pairs.
Since we are with this system 24/7 in a trade how can we keep then only 5 trades open ?
Do we have to close then a few trades ? Put system on hold ? Or what do you do ?
Thanks for your comments and putting this system in the forum here.
I'm also interested in this, would like to see back-test results if possible? Perfect strategy for me, long term positions which I like, but daily fiddling which stops me trying to pretend I can scalp!