Hi Ingo,
I think profx isn't a failure....I love it, but the last weeks I traded it too strictly in a time where it doesn't work out.
The high art of trading is to find a balance between the winners and losers....and one of the necessities is to stay with the system....
Your words are all true and wise, but what about your live trading?
How do you handle all that...? What results do you achieve? I am really interested...
I like it very much to study strategies, thinking like, when I would have done that and that all would be great...etc, you know what I mean....that is really fascinating....
You are right, the profits are right under our noses, but every time in a different way, never in the same way....and this is the great challenge for every trader, to stay strict with a strategy, but stay also flexible....and perhaps using different strategies....
You have not the last post...
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....but you can give us some information of your live experience and success....
Cheers,
Lucca
Thanks, everyone, for the contributions - and good luck.
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Hi Lucca - Yes - even my wife will not allow me the last word, so I am used to that!
The main problem with ProFx is that it does not work in ranging conditions. As you found, it WILL work in lower time frames, but for a smaller number of pips, when the markets are not trending.
But no one has been able to find out how to tell when markets are range-bound, and when they are trending ... have they?
And if they could tell with some accuracy that the market is ranging, or the market is strongly trending, then they would indeed have a valuable "secret", wouldn't they?
You said:
"I like it very much to study strategies, thinking like, when I would have done that and that all would be great...etc, you know what I mean....that is really fascinating...." and in this we are very much alike - I too love investigating systems and strategies, and it is because of this human condition of curiosity we have, that we are missing out on becoming and remaining profitable in our trading.
No one can ride two horses.
No one can chase two rabbits.
You get nowhere if you change horses in the middle of the stream.
To win, I believe we must find a system we like, and one that works in our "favourite" time frame. This means we will be "psychologically comfortable" with the market action. Personally I like the 1H to 4H TF, but I have friends who love the 15 to 30Min TF.
Why not become a "master" at such a system - none of us will get very far if we keep changing to the next, best thing that comes along.
Personally I think the Lindencourt method is probably OK - because so many remain keen on it so far into that thread on Donna Forex. But I do not have a copy of the system, and have not really delved deeply into that thread to try to understand it better.
Why?
Because I don't want to be continually distracted from what I already have - yes, even though I may be missing something good. In time I will read about it more fully, and then decide, but not yet. I have unfinished business with ProFx, and yes - I still very much like it.
When people get a winning strategy, or a winning system, they always, always, always, always, always, always, always, always, always (my two fingers are getting dizzy typing that)
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want to change it into something else, and then wonder what happened to the winning results from the past!
It is not too far back that I was thinking of giving up trading because I could never find a method that would signal good trades. But even with a good method, I am not a good trader, so I can not claim to be a profitable trader, unfortunately.
Some of us can not trade, but we have the kind of brain that finds trades as they set themselves up. We are not dumb ... just not cut from the cloth of a trader. This is one of the hardest admissions a would-be-trader can make.
I think I must be one of them. The reason I have not given up is that I love trading, and even to trade demo, gives me some small pleasure!
Kind regards
Ivan