99% success trade

[fxtrader777]

Today US confidence release was the right time for this strategy, no matter you bought or sold, you would have stayed winner, :Pwe must catch such situations. I think NFP release time is appropriate for this strategy

[astro]

Originally Posted by fxtrader777

Today US confidence release was the right time for this strategy, no matter you bought or sold, you would have stayed winner, :Pwe must catch such situations. I think NFP release time is appropriate for this strategy

What you're doing now is not the right way to build a strategy.
Yes, it's always easy to tell in a hindsight that "if I was so and so then I would ...", "yesterday was the right time..." etc. This way all strategies are winners. The only problem is that you don't know in advance what will happen.
As I demonstrated in my example (a few posts back), one long ranging day would wipe out your account.
And you can't tell what type of day it will be BEFORE it ends. Therefore your strategy must consider such cases.

As opposed to what others think here, I think that it's possible, but you need some tuning to make and a well defined money management.

Astro

[snow]

Think about it for a moment.

After been flipped a few times what has happened to your risk:reward?You end up risking a large % of your capital for a tiny profit!!

What happens when the it whips between say 25 pips for a couple of hours?You finished!!

At news time , if your broker widens the spread you will get filled when in actual fact your price never hit , which leaves you possibly catching the breakout....but the wrong way!!

Bad fills , slippage , frozen platforms etc will render this system useless.
Furthermore one your broker knows your system it would be just far too tempting for them to you know what....

I know these things cause i fooled around with this idea years ago.
BTW , this is how Nick Leeson broke Barings.

[Atomised]

Originally Posted by snow

Think about it for a moment.

After been flipped a few times what has happened to your risk:reward?You end up risking a large % of your capital for a tiny profit!!

What happens when the it whips between say 25 pips for a couple of hours?You finished!!

At news time , if your broker widens the spread you will get filled when in actual fact your price never hit , which leaves you possibly catching the breakout....but the wrong way!!

Bad fills , slippage , frozen platforms etc will render this system useless.
Furthermore one your broker knows your system it would be just far too tempting for them to you know what....

I know these things cause i fooled around with this idea years ago.
BTW , this is how Nick Leeson broke Barings.

That just proves what a bad idea this strat is when even snow felt strongly enough about it to actually post something on the moneytec forums, enough said !!

[fxtrader777]

LOL got 20 pips today on GBPUSd after US GDP release.
First I lost, entered short before release, then entered long and revocered + 20 pips in profit.

I agree that this is no strategy but for some time it could be used. As for risking acc, if you trade like news releases you are winner easily. as for broker. Forex.com has never widened spread for me, i am with them all my carrier on forex. So if you are loser two times on news day leave it. You lost 20 pips + 2* 20 pips. The news day is good because price goes fast one direction and 90% of time it goes right away withoyght moving sideways.
So theoretical approaches can be made much but first you should think what is happening in reality. I agree that this cannot be a strategy and all income coming from it but you can take easy pips sometimes. Why not taking it?
currently I am trading it successfully but with mini lots first time, I take about 20$, hmm free dinner huh?

[fxtrader777]

So there should be fitlers for any strategy.
For this strategy is that, you stop trading that news if you were stopped two times.

[Dr. Zogg]

As Snow said, this is how Leeson lost an entire bank.

This might be a well known gambling strategy, but it's also well known that winning gambler use the exact opposite strategy to take advantage of the winning/losing streaks aspect of gambling, which you also find in trading.

Don’t even fiddle with this thing…. rather go and buy some books written by Prof Von Tharp and learn this stuff properly.

[MickMason]

Originally Posted by Dr. Zogg

As Snow said, this is how Leeson lost an entire bank.

Nick Leeson, my claim to fame, I lived in the apartment next door to where his sister lived and met him twice.

I still reckon if Barings hadn't closed his positions in a panic they could have traded out of that loss. He was unlucky though, what was it, an earthquake in Asia?


Mick