Quote:
Originally posted by gibsonmh
...Most strategies I've investigated, and back tested, simply do not work.
I was just wondering what the results of others have been, as I really don't see a lot of the systems discussed yielding positive results. I was wondering if it was worth continuing....
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I started my forey into the Forex 6 months ago.
I first started trading on "instinct" with no particular plan. Results: Down 50K (well a 50k
demo account anyway).
I learned from that.
I moved onto Neural Networks (as I am a programmer) and this did not produce good results (very good in backtesting, but it got killed during paper trading).
I learned from that.
I tried trading using a MACD strategy, again - disaster.
I learned from that.
I've been examining many different systems (mostly those on MoneyTec) and absolutely none of the systems I've seen on MoneyTec are relable enough for me, so I've had to develop my own, not based on any indicators.
I'm paper trading my new system and it seems very promising.
What I'm trying to say here is that profitable systems are seriously HARD to find, and those that have them don't want to share (who would blame them?)
But if you keep persevering, you'll eventually find one that you're happy with.
Then trade it.
So you ask if it's worth continuing?
I say yes.
(Oh, and don't listen to those that would discourage and patronise you by saying that your Forex "education" will take years - it doesn't have to!)