Need some feedback on my trading plan

Trading Systems
21

It works the problem is in us - people

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22

Static rules! means not subjective, the person cannot make mistakes if the strategy is static, if that is subjective, and what you say is totally wrong. with static rules people cannot do mistakes unless they read a wrong instruction.

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23

Patience young padawan, some day you will achieve this knowledge :slightly_smiling_face:

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24

LOL thank you I do not want that knowledge. search static and static rule in a dictionary and it will be really helpful to you. At least I might then be able to take your posts and comments more seriously.

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25

Can you please explain how you’d calculate the SL from this. I don’t understand.

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26

You don’t have to take my posts and comments seriously, skip it :slightly_smiling_face:

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27

Taken like a gentleman🙂

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28

I actually agree with what he says, static rule based trading is based on static rules, meaning that the thing is clearly stated, so it cannot be mistaken, the rules can be outlined verbally and followed accordingly, how would that be a human mistake to lose based on static rules?

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29

I never did! but do not give false information so confidently people can lose their money and that is a serious thing! not your words, the consequences can be serious.

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30

There’s a huge gap between our knowlede and experience. Before you accuse me of giving false information, do some research on why turtle traders achieved different results even though they used mechanical trading methods

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31

The best way to explain this is to refer you to a Youtube video on the subject. NNFX has an excellent video on use of ATR as a volatility indicator, but this one explains from first principles. As the author says at 3:20 into the video “Always make sure you know the logic that supports any indicator before you use it”. I think only experience of staring at charts as they develop can give the user a full explanation of how that looks in real time. Please watch this 30 minute video for a good explanation. It is far better than anything I can explain that would take me an hour or two to prepare with good chart annotations (which I no longer use anyway because I can “eyeball” what I need without having to draw entry, TP and SL levels. https://www.youtube.com/watch?v=UgAXWT7NLKg

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32

You just gotta go for the testing… Backesting doesn’t really prove anything you have to see how it performs in real time

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33

turtle trading strategy I* guess you mean!! :smiley: and that is correct we are very different, at least I know that turtle trading strategy is a mechanical strategy and i know that mechanical strategy differs from static rule based strategies. Far apart forex knowledge for you that need a lot to be improves, even if you use a dictionary you can understand static is opposite of mechanic. so at least check a dictionary before you misinform others. respect the importance of providing correct information please and in any forum just talk as much as your knowledge lets you.

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34

what? each mechanical strategy has static rules, that is why strategy is mechanical

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35

LOL… thanks for your awesome knowledge on mechanical and static rule based strategies. LOL

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36

so explain me if you are so such experience :slight_smile:

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37

Everyone IS looking at everything differently.

Regardless, bottom line:
• Use a tool or system that presents successful entry opportunities most of the time; and,
• Know your numbers.

Remember, too: The tortoise always beats the hare.

Combining the philosophies:
• .05% a day ≈ 12.75% a year;
• .10% a day ≈ 27.11% a year;
• .15% a day ≈ 43.29% a year;
• Etc, etc, etc…

Since trading is exponential and not multiplicative, it’s more important to report PROFIT/GAIN daily than it is to seek maximizing any study or indicator.

This simple concept will yield better long-term realized gains along with a better balance and quality of life.

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38

  1. Look at a back chart

  2. Mark a random candle

  3. Move the chart forward until you see a setup that matches your strategy.

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39

Hi I just found another thread that refers to use of ATR based stop losses. Recurrent mistake is stop loss being triggered

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40

I wont!

And I wont!

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