There are NO ‘trading secrets’ in Forex. You are hiding behind a façade to sound smart, using a 20 year old trading platform, and not knowing about the most powerful strategy network in the world, I’d be pretty embarrassed too. No thanks on that “free strategy”. BabyPips secrets. Just sad. Well-deserved Block from me.
To the OP, you can find 10x better trader signals just here https://www.mql5.com/en/signals & with the MQL5 network, you’ll be able to simulate all trading scenarios with any of these free Expert Advisors https://www.mql5.com/en/market/mt5/expert/free and choose to trade similar ones manually once you find a strategy that suits your goals.
wrote a guy which doesn’t have any live results , no trading secrets on the market? There are many method to build and test strategies, that’s why each me method is trading intellectual property, trading secrets but what do you know about it, you don’t have any. Do you think mql5 cloud and MT5 us the best solution to build and test strategies? You don’t know nothing about development strategies in current technology time. You have still so much to learn young padawan.
A system should be set of rules that dictates whether if you enter a trade.
The set of rules can be based on anything: whether if prices are high low, how far has price moved, how long has price consolidated, how does the RSI look, how does the RSI look compared to the MACD, which day of the week is it, is it a full moon yesterday… It can be anything that gives you an edge… you get the idea…
And how do you know if it gives you an edge? You backtest your rules, and then you forward it in demo, and then you start small in live account, then you scale up…
Somewhere along the way, you will find that your system is wonky, and you need to tweak it, so you go back to the drawing board and redesign your rules, and repeat the entire process.
Well, I guess the million-dollar question is what rules are out there that I can choose from? I don’t know what I don’t know. You know what I mean.
Sounds like I just need to try systems, a bunch of them, and then like pick pieces from one and another piece from a second one and then just keep doing that.
It’s not really a million dollar question as to what rules are out there…
Almost ALL of the above said rules are readily available on the internet. Some do not have an edge, others do have a slight edge. You will find that you need to put together several rules to have an edge.
Don’t just try blindly, use a bit of common sense and crowd psychology and pick your rules around them.
To start anyone off perhaps, imagine you are in a trending up trade, and you see HHHL, and you joined the trend, and perhaps your stop loss is set below the most recent low, and then price went down and hit your stop loss, you market sold and pushed the price further down. And you thought to yourself, you should have shorted instead of going long. Now that’s a very common scenario isn’t it? So that is your idea, and you build your system around it. Perhaps EMA to suggest price is trending up. Perhaps ATR to suggest where to put your SL. Perhaps RSI to indicate how strong the trend is. Perhaps RSI overbought to indicate maybe the trend is TOO strong. What does too strong imply? What would you normally do if price is TOO strong? Would you keep buying? Or would you have decided to short?
And then you have a set of rules that you can go and backtest on. After backtesting you realise that it doesn’t work, soo now maybe you need to refine how you define trend? Or maybe your initial idea that people joining trend is incorrect? But surely that can’t be incorrect because everyone sees HHHL they want to long it, or is it really? Then perhaps you go and research about what institutions do when they see HHHL. Maybe it works in commodities, and not in FX. And you go and figure out why.
You start digging and trying and digging and trying, and after a long while you form a set of belief and how you read the market that sort of make sense more often than not, and there is your edge.
Just sad. Well-deserved Block from me.
, no trading secrets on the market? There are many method to build and test strategies, that’s why each me method is trading intellectual property, trading secrets but what do you know about it, you don’t have any. Do you think mql5 cloud and MT5 us the best solution to build and test strategies? You don’t know nothing about development strategies in current technology time. You have still so much to learn young padawan.