Search for the Holy Grail in Trading

[garyh]

Originally posted by jtb790
Doubtless there are systems both mechanical and non- that utilize strictly chart trading, or Fibs or some other indicators. These are all living on borrowed time if you ask me, and somewhere, someday the currency operators using them are destined to meet their doom.

I DO disagree with you. While systems may tend to lose effectiveness, I don't think indicators or chart trading ever will. The reason is that most traders do not trade mechanically, but by discretion. You may have a group of traders using the same set of rules with the same indicators, but they will more often than not trade differently than each other. Charts are nothing more than a set of tools. It's not the tools that build a house, it's the man using them correctly.

Gary

[autofx]

Originally posted by SimSpeed


What's in the file Autofx? I don't like downloading without knowing what I'm getting. Could it possibly be a record of successful trades your automated system has produced? I'd sure like to see one considering all the auto-trading hype of your system that I've seen no verifiable proof that it works. I'd be more than willing to offer my respectful apologies of doubt in your methods if you could kindly provide said proof.

waiting,
SimSpeed

It's a zipped screen shot of recently closed trades.

I don't know what your standard of verifiability is, and I'm often
the first to point out that these things can be faked, because
obviously, they can be.

You can also look here. There are zipped trading records
therein, and a zipped screenshot in the third post of the thread.

Before you dismiss what you will see as fakery, notice that Buff,
a well respected MoneyTec member, wrote a post on the
thread where he vouched for the consistency of the trading
record with the alerts he received. I could easily marshall other
people to vouch for my alerts in this way, but I have no need to.

Even if I could further "prove" these were real trades, I'd still have
the burden of proving they were executed automatically. One
thing you will notice is that the trades in the trading record are
opened pretty much around the clock (I'm human and I have to
sleep -- my computers do not), and are all opened near 00, 15,
30 or 45 minutes. SOMETHING very "clockworkish" is going on (or
at least I am able to make it look that way).

Those who don't want to believe in automatic trading never will,
no matter how much evidence they are confronted with.

You could also check out garyh's thread.

Either there is a strong body of evidence here at MoneyTec that
automatic trading does work, or some of us have contrived and
conspired to present products of digital trickery. Does anyone
think we would spend that much time engaged in illusion-making
just to recruit a few subscribers?

I'll answer that: yeah, some of you think that. Whatever!

[Should be in class. section]

[garyh]

Originally posted by jtb790
... indicators or chart trading (without the common sense of a currency operator) are destined to fail even though they even may be able to win 99% of the time as a stand-alone (mechanical) system(s).

Win 99% of the time... that's my kind of failure!

[autofx]

jtb790's comment didn't make any sense to me, either.

[autofx]

Originally posted by Handle
A good positive post.

Thanks

Yeah, KPCurrency is one who "gets it".

[garyh]

Originally posted by jtb790
Without a live trader's mental and emotional makeup, judgments and determinations, I don't care what the system is, mechanical, chart or otherwise, it will fail.

Now that's really funny! Emotions and thoughts are what most traders blame their trading mistakes on. While most traders are striving for more discipline in trading by using tools that might help their decisions, you are recommended they do what.... guess at it based on what they THINK or FEEL the market may do? And how do you arrive at your trading decisions? What drives you to the moment of saying, "Now's the time to get in the market in this direction", or "It's time to get out!". Do you use stops? How do you determine the placements for those? Gut feeling? Do you look at charts...you'd better not, because that would FAIL! Don't tell me...you're a purist... I bet you would drive a nail into wood using your fist (or would it be your head since it seems to be hard) because using a hammer might cause you to fail?

I must be totally missing what you are trying to say????

[autofx]

The term "Holy Grail" has got to be one of the most popular
ones you'll see in thread titles. Those familiar with "Monty
Python and the Holy Grail" will recognize my icon/avatar as an
image of Tim the Enchanter from that movie, as brilliantly rendered
by John Cleese (trivia: his family name was originally "Cheese" --
it's true, you can check it out).

Anyway, Tim the Enchanter directs King Arthur and his knights to
a place guarded by a little bunny rabbit, whom the knights dismiss
as harmless, despite a warning that the creature is deadly.

The little rabbit viciously attacks some of the knights
straightaway, making the rest of them run away in fear.

I find all this imagery very funny, and I think there are parallels
between that movie and the quest for the Holy Grail we see here
at MoneyTec.

In the movie, King Arthur and his knights never find the Holy Grail.

Did they ever know why they were looking for it in the first place?
Did they ever really want it anyhow?

I submit that many of you deny its existence because you
wouldn't know what to do with it if it was within arm's reach.
You're afraid of success. You sabotage yourselves. You've
convinced yourselves that trading is enormously hard, and
present us with tales of woe about how your trading accounts
got wiped out. The harder you try, the more you lose.

"Oh, if only I could find the right technical indicator, or if only I
could find the right charting package, or the right strategy, or the
right online broker, or figure out how to interpret the news...then,
THEN I'd be winner!"

No, you wouldn't. You think like losers. You'll never let yourselves
win. Unless...

Is there REALLY a Holy Grail?

Yes.

"To the north there lies a cave -- the cave of Kyre Banorg --
wherein, carved in mystic runes upon the very living rock, the
last words of Ulfin Bedweer of Regett proclaim the last resting
place of the most Holy Grail.

"Follow! But! follow only if ye be men of valor, for the
entrance to this cave is guarded by a creature so foul, so cruel
that no man yet has fought with it and lived! Bones of four fifty
men lie strewn about its lair. So, brave knights, if you do doubt
your courage or your strength, come no further, for death awaits
you all with nasty big pointy teeth."

[garyh]

Autofx... I LOVE that movie!!! That's got to be one of my all time favorites (along with Dumb and Dumber)

"It's only a flesh wound..." the trader says as trade after trade of his emotionally charged "discretionary" trading system pulls his account into margin.