Trading Systems Forex - Simpler the better-

[nbo2]

Basically what is being requested here is that all the work is done for you (not specifically you, but more a generalisation being used here). People learn far more by taking something simple, researching it themselves, checking it out themselves, testing it sensibly, then putting it into action than would ever be possible by posting charts on any message boards anywhere.

To trade successfully and consistently takes hard graft not hand-outs - so I shall post no charts etc. Anyone can easily take the simple rules as published and apply them to charts and research forthemselves so that they understand what is being said.

 

[Anonymous]

Many commercially available systems are like "Trading made difficult".

I would find it easier to call a spade a spade instead of a diamond or something else.

 

[neil]

beauty of simplicity

Thx for nice answer.
It was my point to get it.
As i post i know in person couple people with made money on Pattern breaks.
Still talking about theory and posting real trades are two way diff ways.
Talk is cheap.
Sup res breaks are great for trading and i never say nothng against it.
But i like live screenshoots from open and close positions to teach people not talking about something with is all over net and in gazilion books.

Listen to nbo2. He is experienced in the art of trading and his advice is posted free for all to study.

 

[FOREXHUSKY]

Basically what is being requested here is that all the work is done for you (not specifically you, but more a generalisation being used here). People learn far more by taking something simple, researching it themselves, checking it out themselves, testing it sensibly, then putting it into action than would ever be possible by posting charts on any message boards anywhere.

To trade successfully and consistently takes hard graft not hand-outs - so I shall post no charts etc. Anyone can easily take the simple rules as published and apply them to charts and research forthemselves so that they understand what is being said.

Good answer.Thx.


And all newbies still going to nowhere lol

 

[FOREXHUSKY]

Listen to nbo2. He is experienced in the art of trading and his advice is posted free for all to study.

Dear Neil im liesten,read and study from many years.
But so far i meet only couple proven rich traders including me.
There was no negs in my comments,just some spice,and i get right answers so long life to you and author of this thread.

 

[neil]

Dear Neil im liesten,read and study from many years.
But so far i meet only couple proven rich traders including me.
There was no negs in my comments,just some spice,and i get right answers so long life to you and author of this thread.

And you also Sir

 

[nbo2]

I'm a little suprised that a successful trader would be questioning so vehemently the points I've made since if they are trading very large size, they would automatically know that they need to await the dips/rallies in order not to move price too far out of their favour...???

 

[neil]

Beauty of FREE simplicity

I'm a little suprised that a successful trader would be questioning so vehemently the points I've made since if they are trading very large size, they would automatically know that they need to await the dips/rallies in order not to move price too far out of their favour...???

Maybe that "successful trader" has a system/course to sell and doesn't want you to give free advice to members of this site.

 

[Anonymous]

If someone can learn all there is to know by reading on Forums then "successful trader"'s system/course selling business will see no sales. No sales no profit, no profit no income, no income "successful trader" becomes mad, and goes "mooooooo".

If a retailer lets his customers know where he gets his wholesale supplies won't the customers go direct?

 

[Baruch]

Maybe that "successful trader" has a system/course to sell and doesn't want you to give free advice to members of this site.

There are hundres of systems out there. Please mention one, which works day after day, week after week, and I will buy it. I have never heard a trader say: "Yes, I bought a system, and it gives me 100 pips or more every week".

But I could be wrong. So please tell us, neil.

 

[Anonymous]

I want to know too. Most probably black marketeers will be very eager to know too, and are anxiously scanning the forums looking for such a remarkable system.

 

[nbo2]

If such a system existed (and truly was the holy grail of trading) - by that I mean foolproof and able to consistently outperform hard work combined with Common Sense, then I too would buy it and retire to counting the money from time to time. Alas no such system does or every will.

 

[SOCRATES]

All this is very funny. This is because successful traders cannot graft their success onto others.effectively as they would or might like This is because going past basic rules, trading is an art form. As it is an art form, many aspire but not all succeed. It therefore appears as if there are secrets, but in the end analysis there are none as such, but, it is as if there were because it is not prudent or wise to discuss edges or impart information that would immediately disseminate personally developed advantages for knowledgeable and successful practitioners in what is after all a public forum. So it is not a question of witholding information in order to place a commercial value on that information, it is that the nature of the information itself does not render it suitalble for dissemination in a public forum. This has a side effect. The most noticeable side effect is to make frustrated people even more frustrated than they already are. In contradistinction to this, when successful traders meet by arrangement, out of the public spotlight, creative discussions take place freely, in lieu of deliberate brain picking as is the norm in all other circumstances that they would either individually or even collectively encounter and that they would have to tolerate or even endure. This is the delight and enjoyment that successful traders seek within a framework of harmony and equality instead of to the contrary when dealing with iformation beggars or frustrated wannabees. Another side effect is that it serves to perpetuate endless discussion about it. This endless discussion is grist to the mill of several vested interests. These include media. Media thrives on advertising revenue. Advertising revenue is only attracted if there is an audience suitably available. The same is the case with books, and with courses. Now imagine what would happen if suddenly all was explained and everyone knew everything ~ this would put an end to media books and courses. In all of this there is an irony. The irony is that the more I read and hear and experience, the harder my conviction that traders are born, not made. Therefore the posture adopted by nbo2 in his post number 121 above, ought to be properly understood and acceptend and not to the contrary.

 

[Anonymous]

traders are born, not made

Possibly so. If one was to isolate the factors that make up trading skill by examing whether there is indeed such a skill as trading skill, whether trading skill is indeed a separate skill by itself, examine 3 things, access to funds, access to facilities, possession of trading skill under 3 scenarios:

1. A beggar. Simply by sitting in the street and putting out his hand the money comes dropping. According to your upbringing, can you sit in the street and actually put your hands out? There are those who beg because their highest form of nobility is begging, they don't think begging is shameful. There are weirdos who interpret human rights as: since the beggar is actually begging therefore he is suffering from degrading treatment, therefore he is entitled to receive human rights like social security payments. The beggar has access to funds, unlimited funds actually, and facilities since he qualifies for social security payments, resident permits etc.

2. A highly qualified. After getting his academic and other qualifications he stands in good stead just by the salary he commands, but as an example one by margin trading goes bankrupt. The highly qualified has access to funds, access to trading facilities, but goes bankrupt? It goes to reason he lacks trading skill.

3. One who fell on hard times but turned £25 (all that he had) into £100 in less than 6 months using the crudest form of exchange. Without the right to enforce his contracts will he be able to convince any bank or venture capitalist to allow him access to funds? Would any counterparty be willing to take him on as a counterparty in margin trading? Despite falling on hard times, physically sleeping in the street, suffering homelessness, unemployment, hunger, starvation, seeing hypocrites unfold themselves, he was able to turn £25 into £100 in less than 6 months, and continues to make more and faster profits.

The access to funds, the access to trading facilities, possession of the trading skill.

Are traders born or made?

 

[nbo2]

Spot on Socrates.

You can tell someone what works and lay out the framework for them.

But you can't do the observation for them. You can't do the homework for them. You can't make the connections for them. You can't pull the triggers for them. And most importantly you can't THINK for them while its all going on. These are all things people have to do for themselves.

Them that do all that by their own hard work and self application reap the rewards. Them that don't.........

The old addage was never more true - Good ideas are Dime a Dozen, but the people who make them work are PRICELESS!

 

[Baruch]

See my new Holy Grail trail and look at this free system: http://www.tradecurrency.ca/daytrade.htm

 

[rglenn]

If you are looking for a simple method of trading try this.

1) if the market is trending up Buy the dips. Exit when it fails to make a higher high and instead makes a lower low.

2) If the market is trending Down do the opposite of 1.

3) If the market is trending sideways stay on the sidelines and wait till the market trends either up or down.

to determing the trend, draw 2 lines from left to right. one above the price bars the other below. If they are heading up, then the trend is up. If they are heading down then the trend is down. If they are heading more or less sideways Small slant allowed in this - then the trend is side ways.

If the lines are up and the prices go below the up line, then start drawing new ones. vice versa for down. For sideways - well that's obvious - just make sure you're outside the lines and going somewhere before you take a trade on...

Do this on a bigger chart 4hr-day and on a shorter chart - you chose the time 5 or 15 something like that - it really doesn't matter. Tie the two next to eachother so you know where you are in the market and let the market do the rest for you...

Does this work? you better believe it. Not every trade will win, but more than enough will win more than big enough to make consistent quality returns with few headaches. Strangely - it can take maybe years to discover the simplicity of it and yet whole Banking dynasties were built on nothing more than riding the trend out till it died.

Goes with what I said many weeks ago on another thread - Wait for it to break into a direction - wait for it to pull back then enter in the direction of the break and wait till the trend fails! - same thing different language that's all.

If it ain't going somewhere - leave it alone! Otherwise go with it!

Wonderful post NBO2 - I have been researching all sorts of strategies on Forex and that is the only one that seems to have any lasting value.

As you correctly stated you must first determine the intermediate trend which can be done by a variety of ways including the one you mentioned.

I haven't finished my research yet but the best ways I have found so far to determine trend is use the higher time frames i.e weekly/daily against smaller time frames 15mins/1hour to get you into the trend- when markets are trending.

Thanks again for your input as it now adds weight to further investigations into this profitable area. Although you may not get alot of trades from this method you certainly get more winning trades.

 

[Baruch]

See my new Holy Grail trail and look at this free system: http://www.tradecurrency.ca/daytrade.htm

Any comments? :cheesy:

 

[nbo2]

Thank you for the compliment RRG, but:-

I havn't invented or even said anything new. This strategy is as old as the hills. Ever since any kind of market for anything has existed where any level of speculation has been involved, this kind of approach has been employed. It has stood the test of time, unchanged in any way other than small details that apply to modern markets and methods of access to those markets. It was being employed successfully long before any mathematical approach was even considered or indicator invented...

The ability to exploit short term abberations or the aplication of mathematics which is only relevent some of the time in any market are where most systems/methods derive from, but short term abberations soon enough disappear, and the method of exploiting them no longer works. Other more mathematical methods go through very hard times being whipped to death where conditions are not quite perfect. But inevitably, even the most stubborn of markets will start to trend at some time or another. This has Always been the case and will always be the case (until someone or some group has total control of a market effectively making it no longer exist). Waiting patiently for trends to happen and then running with them, will reap its rewards

Like I said, this "old fangled" pre-historic approach has more than stood the test of time, and people will profit from doing little more long after I'm gone.

Good luck with your observations and research. I hope you make the connections.

 

[rglenn]

Thank you for the compliment RRG, but:-

I havn't invented or even said anything new. This strategy is as old as the hills. Ever since any kind of market for anything has existed where any level of speculation has been involved, this kind of approach has been employed. It has stood the test of time, unchanged in any way other than small details that apply to modern markets and methods of access to those markets. It was being employed successfully long before any mathematical approach was even considered or indicator invented...

The ability to exploit short term abberations or the aplication of mathematics which is only relevent some of the time in any market are where most systems/methods derive from, but short term abberations soon enough disappear, and the method of exploiting them no longer works. Other more mathematical methods go through very hard times being whipped to death where conditions are not quite perfect. But inevitably, even the most stubborn of markets will start to trend at some time or another. This has Always been the case and will always be the case (until someone or some group has total control of a market effectively making it no longer exist). Waiting patiently for trends to happen and then running with them, will reap its rewards

Like I said, this "old fangled" pre-historic approach has more than stood the test of time, and people will profit from doing little more long after I'm gone.

Good luck with your observations and research. I hope you make the connections.

That is very true Nbo2 - but you must appreciate what is happening all around us- everyone is looking for something new or something better not really realising that the old methods are the best.

As the wisest man that ever lived said" There is nothing new under the Sun. "

It may be different but not new.

Cheers