Post your Losing Strategies Here!
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BSD
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Anything with a huge inverse R:R ratio, where your losers are many times bigger than your take profits.
That way you will have outrageous win rates, but in all likelihood still end up broke.
Good for people though who like being right over making money.
That way you will have outrageous win rates, but in all likelihood still end up broke.
Good for people though who like being right over making money.
montmorencyt2w
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This was a great thread idea Tradergirl, and a lovely theory: find a losing strategy, and then do the opposite. One would think it can't fail, but as we all know, it's not as simple as that.
Anyway, I suppose the most obvious losing tactic, rather than strategy, and what beginners are always told never to do, is moving your stop-losses wider, and wider, if your trade is going against you.
I've been guilty of this, and have even got lucky and got away with it sometimes, not that I recommend it. It's far too stressful...
One of the problems though is that the SB firms usually impose such large minimum stop requirements. If I could use a 1 or 2 pip stop (as some experts seem to recommend, presumably not talking about spread-betting though), I think I'd be much more disciplined. However, if the minimum stop is say, 50, and your trade goes against you early on, and it's moving fast, you've already lost a fair amount with the minimum stop. So the temptation is to start off big a bigger stop to cope with the volatility, and that can be the start of a slippery slope.
Whereas if you'd been allowed just a 2 pip stop-loss, say, you could have 9 losing trades, and only need to win 20 pips plus the spread on the 10th to break even, and any more would be profit.
Anyway, I suppose the most obvious losing tactic, rather than strategy, and what beginners are always told never to do, is moving your stop-losses wider, and wider, if your trade is going against you.
I've been guilty of this, and have even got lucky and got away with it sometimes, not that I recommend it. It's far too stressful...
One of the problems though is that the SB firms usually impose such large minimum stop requirements. If I could use a 1 or 2 pip stop (as some experts seem to recommend, presumably not talking about spread-betting though), I think I'd be much more disciplined. However, if the minimum stop is say, 50, and your trade goes against you early on, and it's moving fast, you've already lost a fair amount with the minimum stop. So the temptation is to start off big a bigger stop to cope with the volatility, and that can be the start of a slippery slope.
Whereas if you'd been allowed just a 2 pip stop-loss, say, you could have 9 losing trades, and only need to win 20 pips plus the spread on the 10th to break even, and any more would be profit.
TheRumpledOne
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Anything with a huge inverse R:R ratio, where your losers are many times bigger than your take profits.
That way you will have outrageous win rates, but in all likelihood still end up broke.
Good for people though who like being right over making money.
You do NOT GET IT!
This is to show that you can use a random number entry and make money. I have the 5 win vs 20 loss there ON PURPOSE to show that this will still win!!
If you look at the charts, you can see that most of the winners could have made more than 5 pips but for the sake of this challenge, I am happy with 5.
The point is to get traders to SEE what PRICE is doing WITHOUT indicators.
You don't have to worry about how big a SL to have when you can SEE what price is doing. If the trade is going against you, then you exit and if it is going with you, then you let it run.
TheRumpledOne
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More winners....
How many winning 5 pip trades in a row would you need per day before you're done trading?
zupcon
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On the 18:00 bar (based on your usual levels), you'll find that you end up with a -8 followed by a -15 as on both entries price retraced back below the open before hitting 5 pips !. Those two losses of course wipe out half a days profits.
Why quit for the day, just because you happen to be ahead ? the long term stats are going to play out regardless of howe many times you quit whilst you are ahead, you cant escape from that however hard you try
TheRumpledOne
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I do NOT think you read the rules about stopping out.
7) We will STOP LOSS at 20 pips OR if the candle changes color AND hits a price ending in one of the random numbers. For example if we are long at x.xx25 and the price never reaches x.xx30 and the H1 candle turns red and hits x.xx09 (assuming 09 is another random number) then we will stop out and reverse (assuming this is the first time x.xx09 was hit this hour).
The candle has to CHANGE COLOR AND HIT ANOTHER LINE.
I thought I had explained that clearly and even posted an example.
Why quit? One quits because they have other things to do. My idea of trading was to make enough money so I don't have to work all day. Hit you daily goal and quit. Then you can go back to sleep, go play, or do whatever you want because you have both the MONEY AND TIME to do it. It's a wonderful life!!
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zupcon
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Thanks, on the basis of todays data that would seam to make much more sense, both North5 and I incorrectly implimented the exit based on the color change, will change EA's accordingly.
In terms of todays numbers, -10 would have been a -20, and the -8,-15 probably become +5,+5, more like break even for the day.
No problem with quitting to go and have some fun !
cheers
zu
Hopefully we'll get the bugs ironed out of respective EA's
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UKtradergirl
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Great to see TRO posting about his strategy on a thread that has a more relevant title! (sorry, couldn't help myself).
new_trader
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nine
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Anything with a huge inverse R:R ratio, where your losers are many times bigger than your take profits.
That way you will have outrageous win rates, but in all likelihood still end up broke.
Good for people though who like being right over making money.
I recommended your post BSD because it is frequently true ... but it can be wrong.
In trading, something that goes against the current wisdom, the crowd etc, can provide an excellent edge. There are strategies that have a huge win rate that can provide excellent returns - its just that most that are offered are simply weak strategies tuned to have a high win rate to make them easy to trade. Newbie bait.
BSD
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BSD
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Buddy the only one who doesn't gettit here is you...
As many people keep pointing out, your 1hr trigger charts are completely irrelevant for the MANAGING of your trade once it is on, as posting one hour charts AFTER they completed does NOT show one what happened IN the one hour bar after entry...
For the thousandth time - although you won't respond coherently here any more than in the other thread...
You ENTER off of a one hour chart...
Price goes against you by your sl of 25 pips...
You exit with a LOSS...
BUT...
Just looking at the one hour charts you keep posting it would LOOK like a winner, because the POTENTIAL for a 5 pip take profit was there...
But unfortunately in REAL life price went against you first.
THAT is why you never answer any questions re this most pertinent of objections...
And THAT is why you do NOT trade this in real life and post screen shots with 1 min charts that actually show what happened after you ENTERED your trades and that would offer proof that your systems aren't just the crudest mechanical dead ends.
I've said so before:
Open an account whose number you'll tell us in advance at Oanda whose charts show your complete trading transactions, trade it there for a minimum of one quarter, and post screenshots of every single trade with the one hour trigger AND a 1 min trade management chart - it is just up to a dozen a day anyway max - and if that then ends up net profitably I'll be the first to applaud that.
But the only thing that doesn't work at all is your putting up one hour chart after one hour chart after one hour chart that does NOT tell you how price moved INSIDE that one hour bar after entry, against you by your sl of 25 pips FIRST, or did it hit your take profit of 5 pips directly.
TheRumpledOne
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Buddy the only one who doesn't gettit here is you...
As many people keep pointing out, your 1hr trigger charts are completely irrelevant for the MANAGING of your trade once it is on, as posting one hour charts AFTER they completed does NOT show one what happened IN the one hour bar after entry...
For the thousandth time - although you won't respond coherently here any more than in the other thread...
You ENTER off of a one hour chart...
Price goes against you by your sl of 25 pips...
You exit with a LOSS...
BUT...
Just looking at the one hour charts you keep posting it would LOOK like a winner, because the POTENTIAL for a 5 pip take profit was there...
But unfortunately in REAL life price went against you first.
THAT is why you never answer any questions re this most pertinent of objections...
And THAT is why you do NOT trade this in real life and post screen shots with 1 min charts that actually show what happened after you ENTERED your trades and that would offer proof that your systems aren't just the crudest mechanical dead ends.
I've said so before:
Open an account whose number you'll tell us in advance at Oanda whose charts show your complete trading transactions, trade it there for a minimum of one quarter, and post screenshots of every single trade with the one hour trigger AND a 1 min trade management chart - it is just up to a dozen a day anyway max - and if that then ends up net profitably I'll be the first to applaud that.
But the only thing that doesn't work at all is your putting up one hour chart after one hour chart after one hour chart that does NOT tell you how price moved INSIDE that one hour bar after entry, against you by your sl of 25 pips FIRST, or did it hit your take profit of 5 pips directly.
I have posted M1 and M5 charts, too... a win is still a win and a loss is still a loss. The H1 charts show more winners than losers, it's that simple.
All you have to do is post a chart showing the loss. to prove your point. Yet, you don't.
BSD
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LOL what nonsense.
YOU KEEP POSTING ---ONLY--- ONE HOUR CHARTS as ALLEGED WINNERS EVEN THOUGH THEY DO NOT SHOW WHAT HAPPENS INTRABAR !!!
DUMBEST and OLDEST trick in the book to PRETEND that one has a winning system when actually one doesn't !!!
God this is such brain dead snakeoils salesman crap.
Go and open an account at OAnda and trade your "system" live.
Never going to happen is it, because you do not live from trading, but from selling books for a ridiculous 500 bucks.
YOU KEEP POSTING ---ONLY--- ONE HOUR CHARTS as ALLEGED WINNERS EVEN THOUGH THEY DO NOT SHOW WHAT HAPPENS INTRABAR !!!
DUMBEST and OLDEST trick in the book to PRETEND that one has a winning system when actually one doesn't !!!
God this is such brain dead snakeoils salesman crap.
Go and open an account at OAnda and trade your "system" live.
Never going to happen is it, because you do not live from trading, but from selling books for a ridiculous 500 bucks.
luckyd1976
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