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.
Can you further elaborate please? I don’t really understand the statement you are trying to make… thanks
Yes, what is a holy grail really? How is it related to trading, sorry but just a newbie to trading here…
that “Holy grail” doesn’t exist. That’s what geline tries to say. Ok?
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.
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!
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…
Great statement bookert! The sooner newbies understand this, the sooner they can take their trading to the next level!
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!!
And this is a HELL important level!
There is no holy grail…
Hi, to every body this is the place I learned alot about FX and I’m very kind about that to every body in this place.
But I can’t agree with statement “There is no holy grail…” - there is!!! and I found it and when I soo it I can’t believe it is so simple - so I think there are others who know it to - so keep looking. Market is stupid line on the screen - price is like a new girl which don’t know where she want to go and what to do - so be smarter… And no HG is not MM, indicators psychology, candlesticks or other staff - plain chart with stupid line on it - ask yourself right questions and give your self right answers - and you will see it…
And yes I don’t need You to believe me - because it doesn’t change the truth => HG exists.
Thanks I really appreciate, I I can to form my own trading system what tips can you tell me to include in it