1 year, 6 pairs, 1 lot, daily chart, 504 signals, 13942 pips profit

[HardNut]

Originally Posted by fxscalper90

One(s) I developed myself. I'm self-taught, with... a little... input from a few of the best forex traders in the world.

What is your system?

Take care,

fxs

My system is simple. Makes use of support/resistance lines. First identify current S/R line then place buy at support and sell at resistance limit orders. For a breakout, place buy limit order 10-15 pips ahead of resistance and sell limit order 10-15 pips below the support. For limits try not to set any "take profit" limit, simply use trailing stop and let the breakout run.

I don't look at indicators a great deal. 1hr candle charts with Bollinger Bands (20,2) along with Fibbo retracements/fans, linear regression channel (all the stuff to identify S/R lines).

So fxscalper90, what is your system?

P.S. If you don't want to make it public, you can always PM me!

[fxscalper90]

Originally Posted by HardNut

My system is simple. Makes use of support/resistance lines. First identify current S/R line then place buy at support and sell at resistance limit orders. For a breakout, place buy limit order 10-15 pips ahead of resistance and sell limit order 10-15 pips below the support. For limits try not to set any "take profit" limit, simply use trailing stop and let the breakout run.

I don't look at indicators a great deal. 1hr candle charts with Bollinger Bands (20,2) along with Fibbo retracements/fans, linear regression channel (all the stuff to identify S/R lines).

So fxscalper90, what is your system?

P.S. If you don't want to make it public, you can always PM me!

edited. edited.

[HardNut]

Originally Posted by fxscalper90

About my system... I work with the market. Use no indicators, and trade away from losses, as opposed to trading towards profits. I simply counter-punch the market when it gets too uppity. Therefore I make my blood worth something.

fxs,

It seems you try to identify the market trend and follow it. Well that is all I could make out of your post. I am glad it is doing well for you and hope you'll get to your next level sooner than later , but I'd have appreciated if you could have given more details about your system on how "you trade with the market" and "trade away from losses". Am still curious to understand on how you do it.

Hard.

[fxscalper90]

Originally Posted by HardNut

fxs,

It seems you try to identify the market trend and follow it. Well that is all I could make out of your post. I am glad it is doing well for you and hope you'll get to your next level sooner than later , but I'd have appreciated if you could have given more details about your system on how "you trade with the market" and "trade away from losses". Am still curious to understand on how you do it.

Hard.

edited. edited.

[birdjaguar]

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.

[huggybaird]

I'm very interested in joining your crusade. i've written a system that automates trades with no human
intervention. Here are some things that may interest you with the
system i've written:

(1) The computer can use any indicator (RSI, MACD, EMA, etc) or any
proprietary calculation (with a little programming)

(2) the system can backtest any strategy.

(3) The program can check variations of the strategyy to find
ways to better tweakit; for example, if your system uses 20 and 5 EMA
crosses, the system can randomly set tolorances and maybe it will
indicate that based on the past 4 years woth of forex data, 19 and 6
EMA crosses are the best to use rather than 20 and 5. Another example
of this feature may be that the system will tell us it is more
profitable to set stops at 20 pips rather than 30.

(4) the system can log in to a forex brokers website and execute a
trade with no human interaction (currently, it is only set up to use dukascopy dot com since that is the broker i use)

(5) the system send sms messages to my phone every two hours
indicating gain/loss.

Here is the problem with my program.... i dont have a good strategy to put in it!!! I've tried many strategies. Some work well for months but finish loosers by year end. I think my value must be in software engineering and not forex analysis. I'm hoping to do more with the program than paper trade forever

Let me know if you wanna run with me?

[autofx]

Originally Posted by fxscalper90

Nice going but backtesting doesn't work.

That's a silly generalization. What do you mean by "work"?

If you have a reliable data set, and flawless logic that applies the strategy
correctly to the data, backtesting DOES show how a strategy WOULD have
performed.

Now, a whole other question is whether backtesting indicates future results.

Of course not. But a well implemented backtest engine with data from a reliable source (preferably the one you plan to trade with) is a good indicator
of the soundness of a strategy.

[autofx]

Originally Posted by fxscalper90

I mean, I don't just give them away. Took too much pain, sweat and blood to get them.

I put all that into mine, and still always gave 'em away, and continue to.

Don't worry, you haven't thought of anything original that is going to make
it impossible for you to make money again.