I’d like to ask you a funny question.
How much money are you ready to spend on a strategy+execution method that actually works ( a technical method that really works)? And yields you from 30 to 100 pips a day.
This is a serious question, even if it’s a funny one (I’m not trying to sell something).
50-100 bucks a month if there is proof. i.e. you share all the trades etc for a period of like 6+ months first before charging.
Not a penny.
A lot of the reason I started FX was to prove to myself that I could do it, so buying an EA or system from someone doesnt fit what I want to achieve
Your question rests on an assumption that isn’t quite right: i.e. that there’s such a thing as an “objective, working strategy”, that will simply “work” for everyone who buys it.
This isn’t so.
The reality is that all systems and methods (that “work” at all) will work only for some people, some of the time, but [B]not[/B] produce a long-term, sustainable [U]edge[/U] for most people, most of the time. Understanding the [I]reasons[/I] behind that is at the heart of beginning to learn to trade steadily and profitably.
For many people, “becoming educable” realistically [B]starts[/B] only with the eventual realisation that they’re [I][U]not[/U][/I] going to manage to “buy a system” or “buy an EA” and just “make steady income by using it”.
Edited to add: large numbers of would-be traders never quite grasp this, let alone understand the reasons for it, and they’re not profitable traders. It’s all part of a “syndrome”: it typically goes along with using retail “brokers” (who hold the other side of your positions), dreams of automation, relatively deficient understanding of statistics, probability, money-management in general and position-sizing specifically, and imagining that indicators can produce consistent profits from the market “if you can just find the right ones”. None of this belief-set, needless to say, is at all well grounded in reality or conducive to making a living, and all of it is basically “missing the point”.
Thank you for replying guys!
That’s basically what I thought.
I know that most of the traders fail because of their lack of knowledge/discipline and their emotions.
People will always be looking for the holy grail while all they need is psychological training.
But I still think that some of the systems are more “discretionary” than others.
I am wondering if people will still keep failling with a high probability strategy that has no room for discretionary decision.
People also fail because they change their strategy a lot as soon as they have losses.
What if you only trade when you have a 1/4 risk-profit ratio and only on certain circumstances.
Risk-to-reward ratios are not, [I]in themselves[/I], the primary outcome-determining factor of whether or not a system/method has an [U]edge[/U].
A system/method with a 1:1 risk-to-reward ratio and a 57% win-rate will make 40% more profit than a system/method with a 1:4 risk-to-reward ratio and a 22% win-rate.
It will also do so [I]far[/I] more steadily, with [U]far[/U] shorter losing runs, and typically far more trades with a smoother progression, and make the money-management and position-sizing (the exact issues over which so many people typically fall down) [B]far[/B] easier to handle.
This consideration adds nothing, in itself: all trading systems/methods trade “only on certain circumstances”: that’s what a system/method [U]is[/U]. 
I like to do it on my own. Plus there r no guarantee, it could have 5 yrs profitability, doesn’t mean a dam thing in present/future.
I think the question would be, how long will it take to get back what you intend spending on a working strategy. If the investment can be gotten within 3 months, its fine by me. Then I hope to get at least another 3 months of constant profit. I can’t expect a system to last more than 6 months. One has to be very realistic.
I will empty my bank account :17:
…the greatest expense is
TIME:
this is the most valuable currency,
as once you spent it you cannot
get it back…
Spend it well…
[QUOTE=“PipMeHappy;711534”]…the greatest expense is TIME: this is the most valuable currency, as once you spent it you cannot get it back… Spend it well…[/QUOTE]
Have you seen that movie with Justin Timberlake, ‘In Time’?
Totally agree with this. I’d also add that it’s less expensive to abandon a 1:1 R:R system than a 1:4 R:R system.
Suppose you experience 10 losses in a row with a 1:1 R:R system. With 2% risk per trade, you experience a drawdown of 20% before you quit the system.
With a 1:4 R:R system, 10 losses in a row won’t be too unusual. You may have to lose 20 times in a row before you decide to quit, in which case, your drawdown is 40%.
I try to keep all of my trades within a 1:0.5 to 1:2 R:R bracket.
Being that I have a background (because of school) in programming, my “willing to spend” value cannot be measured strictly in dollars, as I am with eddieb on that thought, and want to “build my own.” Once I find one method that works, and can figure out how to build it, will be “willing to pay” in the way of trades that my system makes in the hopes that I knew enough of what I was doing for it to repeatedly bring in more money than it lets go.
Until then, I am not above using someone else’s trading system to help increase my account balance, but not interested in paying a dime unless it is proven to work.