Everyday that passes I’m thinking that having success in trading is a question of luck…unless you have a huge amount of money.
I can’t understand why I start using a system that seems to work and immediately it start loosing!
I started trading with macFibo since a couple of weeks now and I’m already down more than 130 pips. Initially I thought I made some mistake because I started a trade with the first cross that met the conditions to start as Primary signal…and so I lost on eurusd, usdjpy, eurgbp and usdgbp.
Then Sufian suggested me to concentrate only on one cross and so I’m trading only eurusd now…but unfortunately the results seems to be always a disaster.
My question now is: is trading forex like gambling or betting at sports?
I’ve got told that studying Economics is really useful for seeking job, but then why A founds awesome job and makes career while B fails badly? Surely not cos of luck, but cos one learned how to use the tools he learned better, cos is generally better than B and yes a bit of luck maybe gave him a hand!
Forex is the same, just cos macfibo IS (cos it is statistically) profitable, doesn’t mean it’s profitable with whoever uses it. There are many good systems out there, it’ s a matter of knowing them well and finding the one fitting us. Maybe this is not your case? maybe the TF tradable with it is not in your inner spirit? maybe you trade in a emotive way? etc etc etc
5-10% of the traders are profitable, this tells much! But no… they don’t pass their day in church preying and touching wood, belive me
Let’s not get into this mined field of guessing forex=gambling pls, cos it is not!
Where do Am I wrong? It’s a matter of emotiveness? Why? When not using a trading system I agree and infact I remember that in the past I had several bad losses just because I tried to recuperate as soon as I made a loosing trade and then I loose again more and more…but now I’m strictly using one trading system…so what?
Probably there’s something I don’t understand.
But I am here to learn. So if there is someone that can help me please raise your hand!
Hey apfrezza,
I´m new using this system, but one thing I can say is this system really works combined with money mgnt, few our after losing this trade I got another signal that made me get my pips back.
So in my newbie opinion, rolly grails don´t exist, we have to do the work our selfs! And the process of learning can be painfull with real money.
Hey FxDaSelva,
can you please tell me which was the other signal that made you get your pips back? Because after the signal you posted (where you lost your pips) it there is a secondary signal (that was a loosing one) and after there was another Main signale (which I traded) that was again a looser one.
So if we start trading eurusd at 14:00 (yesterday 24/05) then you would have the following result:
1st sell signal (Main): -46 pips
2nd sell signal (Secondary): -15 pips
3rd buy signal (Main): -40 pips
you have been wiser than me because you used the 127% because of the resistance…
However by reading macFibo manual it seems that the resistance should have been placed at the maximum of previous day that was at the same value as 161,8%.
I’m convincing myself that in order to win more frequently it should be used a mix between th MacFibo and the 3 ducks system…try to have a look at it.
What I mean is that should be started a BUY trade only if prices are above 2880 AND 720 AND 60 Simple moving average (on a 5 min chart), while should be entered a SELL trade only if prices are below the three SMA…and then using the MACfibo method.
I couldn’t quite get on your second chart… Your point A is a candle OPEN for a bearish candle in a potential bearish activation… by which I might add, you put your PT A when 5ema is yet to cross 20sma… I am confused.
I am here to help but you need to help yourself first. Have you actually backtest the system thoroughly as I adviced others many many times? If you go through the process of manual backtest… you will learn at the same time. I asked you to focus to test (not trade live) on ONE pair before you start trading live.
Stop trading for now. Start backtesting and study the system thoroughly. Buy a notebook and write notes as you go through to each test trades. Don’t tell me it will take a long time because forex trading is hard work. Good luck buddy.
Hi Sufiansaid,
The black candle is a bulish one and its close price was my point A. After it closed I could see the 5 ema crossing the 20sma, that´s why I took the trade. My point A is the close price of the black candle as the price was going up and I could see a crossing. I don´t if it was the right thing to do, but it turned out ok for me.
I’ve been comparing your trading record with the actual charts on H1, and I’ve noticed numerous inconsistencies. Is your PDF trading record a combination of H1 and H4? If so, you should indicate on the PDF which trades were H1 and H4 because many of your wins/losses do not match what I am seeing the H1 charts.
