Yeah that’s what I also want to know. I’ve learnt that because most of the EAs are mathematically and technically coded, they work really well in the trending markets, but when it comes to sideways markets, they are quite vulnerable (happened so with actrader’s EA). Especially when the market enters a low pip range, sideways, the EAs gets chopped off.
Hi Traders,
Please visit the download page and read the description and review the backtests. The performance on the image below is live performance to date from when the EA was deployed on a live account; before the live account, it was successfully run on a portfolio account for over 6 months. It trades the EURCHF so the EA is performing well in sideways and trending markets. It has a hard SL so it will take you out of the position should the price move too far against you. It has an excellent backtest from 2003 to 2021.
The EA is free for the community, I do not want anything from you so there is no incentive to make a scam/cheat strategy available.
Since it is free, you do not have to make assumptions based on your past experience. You can simply download it and deploy it to a test demo account. The worst outcome is you will not like it but the most likely outcome, if you allow it to run for a respectable amount of time, is you’ve located an actual EA that is robust, profitable, and that you OWN free of charge for life. Better you deploy it on a demo than to expect me to sell you a free product.
Regards,
I don’t know how @freeforlife’s EAs work but usually the creator of these bits understands the workings and releases them with a proper back-testing and optimization. I’ve seen many traders who fiddle around with the exiting trades according to their own understanding or assumptions and end up undervaluing the complete potential of the EA.
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Do you believe day traders would have the time to waste scribbling on the paper the whole day? I think
keeping a trading journal all the while trading especially when the market is running would actually be counterproductive. You might even end up missing trades.
Lol, the threads like this are rather enlightening. I think its a good idea to stick with people that see some fruits from trading though. Why bother about those who did not succed, if you don’t plan to follow their example.
I understand the discouragement, but this is confirmation bias that speaks inside of you. What you now to be the truth - you seek to find the proof of that in the outer world. I prefer to seek for the proofs I can become a millionaire as a trader.
That’s not a problem @Gerard. All you can do is mark up the chart, draw lines defining the indicator level that verify the trend and discover the probable reversal/ target points. I feel the charts are much better than words on the trading journals since the exact market conditions being traded are quite well visible.
Glad to have found someone who follows the same strategy. I include an hour of price action before beginning to trade. Kinda got to know what was happening before I entered without including the price action of the past day. Have been trying this strategy successfully with turnkey forex. Gonna do the same with xm too although I use a completely different trading strategy there. In all cases I feel it gives better access to the time frames while trading.
Hey that’s what I also thought, and you have rightly echoed the thoughts of tens of traders I personally know.
I have a totally different approach to it. I feel that that money grows in the trading market but it all comes to putting the money at the right trading instrument at the right time and making the right trade. Since market is always vulnerable, so the chances of increasing the profits is thin and the trader always needs to be on his toes to make the best of the situation.
Check out No Nonsense Forex on YT. He has literally saved my trading career 
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It’s not only you,every trader will lose money,soon or later,so my thought here is,don’t judge yourself in a negative matter,don’t entertain that thought and ask why you deviate from your goal with such thinking.Do you have a strategy?What is your edge? Do you backtest and look before and after your trades?Do you write and have equity management?Everyone has a trader within but we have to find through practise.
Hello, I tend to agree with hugoforex. In fact, I am even after 6 months convinced that there is a clever manipulation going on. How long is the dupery (oops, I have come out with it) going to continue ? It is hard to swallow. In fact, I would even say that traders make more money from teaching trading than from earning from it. Tell me I am wrong. Thank you.
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… Not just profitable trade, but consistently profitable trades. You can’t just skip the time and experience.
True and false. it might not fetch you big returns, but it will surely give you trading experience and proper money management skills without risking a big account.
Hello Inshala,well it is what you believe but i advise you to not consume much time thinking about manipulation,market is searching for liquidity,they go up and down until get orders.i agree with you about the traders making money about teaching,using their social media platforms to flash people into a new business,getting their education as another stream of income,they usually fall into their own falsehood because eventually people see who is real or not.You can’t forget how many people are living from Financial Markets,if you have 6 months be patient with yourself,don´t you know how much years a Doctor,Lawyer etc have to study to start working at the profession? Trading is a skill to be sharped and well worth living if you are passionate about the markets.You have to take in count the conditions of the Market right now,investments are being splited to another assets like cryptos,there are another players in the game hedge funders,institutions,Central Banks you work your edge and extract your part ,hope that helps.
For a long time before I began my trading journey last November, I had a big interest in personal development. Part of my journey included studing hypnotherapy and NLP.
NLP stands for Neuro Linguistic Programming. To cut straight to the chase, Richard Bandler and John Grinder were the creators and Bandler created a process called “Modelling”. Paul McKenna was a big fan and he best describes it as:
“If someone’s got a skill that you want to master, you ‘model’ that skill so you can learn to do what they do in a fraction of the time it took them. Say someone’s a master salesperson - they’ll be doing certain things with their body, and certain things with their language. So you ‘model’ that. Study it, break it down, work out the thinking behind it.”
Every succesful trader who I have followed, read or watched… every synposis of the courses I have seen all say the same things:
- Risk Management.
- Test a strategy for some time before using real money. Including backtesting.
- Keeping a journal of trading - Reviewing what worked and what didn’t.
- Understand how the tools you use, actually work.
- Mastering your emotions - Sticking to your strategy and being consistent.
- Allowing your losers to be cut, allowing your winners to run.
This is the model that you need to follow, these are the steps that you need to take, this is what people who have succeded have done themselves. Of course this is what I think now, my model might change over the next few years, maybe people more experienced than me can comment.
TBH I think also having determination, dedication and a genuine passion for what you are doing helps.
Here’s my progress since I deposited $2.5k on March 19th.
Second one is this last week. Made $1k on Friday alone.
That is an impressive result after such a short period. Well done. I’d be interested in knowing a few details, if you are happy to share:
Did you run backtesting, and if so, did you set a maximum drawdown that your portfolio will tolerate?
Are you continuing to record forward testing of results, since your screen shots show a target and an actual performance?
thanks. I prefer talking on discord. Feel free to dm for name.
I don’t spend a lot of time on it, but I have a guy who wants me to develop materials, so I may document more. But I haven’t decided yet.
Don’t worry, it’s not just you who’s falling prey to the harsh nature of the market. However, if for once we don’t blame the market, you should also watch out for your method of trading. Supposedly you’ve been scalping so far, but when introspective, it turns out that the trading style doesn’t suit your personality and lifestyle at all.