The Holy Grail
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Thread: The Holy Grail

  1. #1
    Join Date
    May 2006
    Posts
    126

    Default The Holy Grail

    Some traders talk about trading system design and its pitfalls and when they do this, they often talk about the search for the Holy Grail. Then they talk about the obsession of finding a specific indicator that will guarantee continual success in the markets. Then, there are software packages that come with indicators that are known as the Holy Grail and this adds to the mythology of an ultimate indicator. Unfortunately, only a few understand the legend behind this search and even fewer understand its relevancy to trading and how understanding the legend can improve trading performance.

  2. #2
    Join Date
    Jun 2006
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    2
    Can you further elaborate please? I don't really understand the statement you are trying to make... thanks

  3. #3
    Join Date
    Jun 2006
    Posts
    29
    Yes, what is a holy grail really? How is it related to trading, sorry but just a newbie to trading here...

  4. #4
    Join Date
    Nov 2006
    Posts
    1

    Default The point is

    that "Holy grail" doesn't exist. That's what geline tries to say. Ok?

  5. #5
    Join Date
    Mar 2006
    Posts
    5
    The holy grail is a sarcastic term that traders use when someone claims to have a system that is "100% accurate". It's sarcastic because there is no such thing and yet so many companies offer these so called systems for only thousands of dollars, haha. I almost got suckered once but thank goodness I didn't fall in the trap.

  6. #6
    Join Date
    Dec 2006
    Posts
    40
    Newbies don't be fooled. There is no Holy Grail, no perfect trading system. Whatever indicators/software/crystal ball you use, the market will still go where it wants. I have been at this for six months and am only now starting to have some success in live trading. All I do is spot and follow trends, look for breakouts after quiet periods and try to avoid major news - this can wipe you out in seconds. What's more important is to look at the big picture: How is the economy doing. What about employment, interest rates, etc. You can guarantee major headlines will rock the market. When we had the airline scare here in London the Euro spent the whole day falling through the floor!

    What is vital is good psychology and MONEY MANAGEMENT. Find out all you can about not letting losing trades run, good exit points and correct stop orders, etc. DON'T GIVE UP!!!! Good Luck!
    Last edited by paulr57; 12-08-2006 at 08:03 AM.

  7. #7
    Join Date
    Dec 2006
    Posts
    6
    Nope NO Holy Grail.
    Newbies DO NOT over concern yourself with perfection in trading. It simply cannot be done. There are plenty of profits to be had without being perfect....

  8. #8
    Join Date
    Mar 2006
    Location
    Babypips, USA
    Posts
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    Quote Originally Posted by bookert View Post
    There are plenty of profits to be had without being perfect....
    Great statement bookert! The sooner newbies understand this, the sooner they can take their trading to the next level!

  9. #9
    Join Date
    Nov 2006
    Posts
    41
    Pipcrawler, I've recently found myself to be a perfect example of what you just said!! Or, should I say, said in support of what Bookert said!

    As a "newbie" I found I was swampped in TONS of indicators; all sorts of "stuff" to try and locate that "perfect" trade! Obviously, all I found out was loosing monies from my account.

    When I backed off all that "garbage", leaned to simplicity, and traded according to my Money Management and simple guide lines, I started seeing a steady climb in my account. This was encouraging!

    Needless to say, I discovered the HARD WAY, the ole' saying, keep it simple stupid, paid off in the long run!!

    Also, being a member of this place is a big help as well!!

  10. #10
    Join Date
    Dec 2006
    Location
    Estonia
    Posts
    42
    Quote Originally Posted by Pipcrawler View Post
    the sooner they can take their trading to the next level!
    And this is a HELL important level!

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"We learn wisdom from failure much more than from success. We often discover what will do, by finding out what will not do; and probably he who never made a mistake never made a discovery."
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