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I have not used my own money to trade some of these entry programs that are "out of the box". Paper trading provides an accurate reflection of what a trading program or indicator program offers. Along with backtesting, I've tried a series of these programs - some offering free trials and others a small monthly fee.
The point of my thread is there is no holy grail trading system unless you develop your own. Some may work and others won't, but in the long term they fail. Technically they may be good trading systems but you end up blaming the originator of the program that his program/system/indicator is poor. Thus, the point was, if you have to rely on someone else to give you buy/sell signals, you will lose and will not be a successful trader. The best system is one that you invent for yourself.
Here are my systems that I altered for my trading style and temperment:
Trade system #1:
I use a variation of the famous Bunny Cross
Indicators:
30min chart
5wma, 20wma cross
ATR set at 14
Enter buy/sell at 2x ATR
Stop at 2ATR
Target at 2ATR
Trade when European market opens.
Trade system #2 (For quite markets)
This is a variation of the Turtle trade adapted for the forex market
1hr chart
Buy/Sell at 20 bar breakout or
30min chart
Buy/Sell at 55 bar breakout
ATR 14
Enter market once market breaks after 20 or 55 bars at 1.5ATR.
Setup pyramid entries as per turtle trading rules, but keep at 3 pyramid trades
Set stops at 2ATR
Exit market at 5wma 20wma cross
I use real money to trade systems #1 and System #2.
The point of my original thread was that there are alot of programs and systems out there promising a 60,70,80% win rate. If you have to rely on someone else to give you entrys and exits. In the long run, you will not win.
Last edited by mika : 07-01-2005 at 02:49.
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