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Originally Posted by autofx
Yes, there are systems that actually work. They work astonishingly well;
most of you wouldn't believe just how well.
They aren't widely known. They break some of the rules -- for example, one
amazing system trades against strong trends but does great in choppy
action.
Everyone is taught at some point to just follow trends, and you'll be fine.
If it's that easy, why don't more people do well at trading?
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I agree, trend following works yes, but in what timeframe are we looking at,
Why do you think that most majors banks have a group of traders who cant even reead a chart, they trade price, flow, fade rallys, scalp in/out of core positions and trade hundreds of times a day, end result: THey make money because:
1- they dont get married to their trades
2- they constantly adapt to market,
3- They take their losses, Its just one of many trades
4- They dont trade to be right, they trade to make money
5- They constantly monitor their trades and dont get set in their profit targets, they take what's available to them with the least amount of pain.
6- they repeat steps 1 thru 5 until it doesnt work, when that happens they sit on their hands and wait.
7- They are patient, they trade for the money, not the excitement. If you think about it trading is rather boring, watching prices etc.... and thats how it should be. How do I know this? I used to be one of them(traded interbank for a major canadian bank, traded as a local on the floor of an exchange, traded nasdaq and nyse stocks)
I have been perusing this forum for the last 6-8 weeks and I keep seeing the same thing over and over again, Massive egos(based on what I cant tell) Holy grail systems that work sometimes, bickering and god awful spelling. Treat each trade for what it is , just one of many, and the rest will follow $$$$$
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Re: What systems actually work?
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