MoneyTec.com Traders Community Forum - View Single Post - 1 year, 6 pairs, 1 lot, daily chart, 504 signals, 13942 pips profit

birdjaguar · 28-02-2005, 22:58

4xfool:
Have you traded before?If not, 30% less efficient in a demo is realistic. Making a profit trading live is another animal altogether. Also, make sure that you have a good position sizing method before going live. I am impressed with your backtesting because it does seem as though you have captured the characteristics of the six pairs. I would drop USD/CHF and USD/JPY, however. My own experience with these pairs shows up in your backtesting. Focus on the four that are less trouble to trade.

HardNut:
While I may not agree with everything from fxscalper90, he is correct in guiding you to be cautious with S/R trades that apparently have a stop/reversre function to catch trends. It is reasonable and possible, but much fewer people make consistent money this way trading currencies that are known to be trendy. This approach would be better suited for a commodity that channels most of the time.

28-02-2005, 22:58	#21 (permalink)
birdjaguar level 3 Join Date: Nov 2004 Posts: 174 Rep Power: 0	Re: 1 year, 6 pairs, 1 lot, daily chart, 504 signals, 13942 pips profit 4xfool: Have you traded before?If not, 30% less efficient in a demo is realistic. Making a profit trading live is another animal altogether. Also, make sure that you have a good position sizing method before going live. I am impressed with your backtesting because it does seem as though you have captured the characteristics of the six pairs. I would drop USD/CHF and USD/JPY, however. My own experience with these pairs shows up in your backtesting. Focus on the four that are less trouble to trade. HardNut: While I may not agree with everything from fxscalper90, he is correct in guiding you to be cautious with S/R trades that apparently have a stop/reversre function to catch trends. It is reasonable and possible, but much fewer people make consistent money this way trading currencies that are known to be trendy. This approach would be better suited for a commodity that channels most of the time.