Posts by fxanalytics
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people who can argue the last statement are those who come to trading with significant portfolio's... Typically it's money made elsewhere. On average, people are not going turn small portfolio's into large ones in just a few years, forget about just a few months.
If you want to trade for a living you need a LOT of cash up front. Not every model is going to make money every year... You need to either be working and making income elsewhere or you need to have enough cash to survive the down times. It's very difficult. The great thing about trading is, anyone can choose the path they want.........
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I can't give you an honest clear example without giving up a lot of my hard earned knowledge! So I won't bore you with a dance around the bush. Sorry...
Please keep in mind it's purely speculation that the model worked for five years; I had to back test up to the old results. Who knows what would have happened in real time...
If you find you have to tweak your system after one or two years, you may have over-optimized. That's not a bad thing if you're just trading for your self. If you're trading for others you have a certain responsibility and need to be consistent. Changing parameter......
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Well that's the question... If I have any hopes of trading professionally and raising the kind of money it takes to really make it worth while, a methodology has to survive for five years or more. We both know that is a lot easier said than done. When the model was initially developed I was well aware of it's limitations and internal biases so I had addressed those through different filtering processes. It "APPEARS" it held up over time, at least in back-testing from the point we were forced to halt trading. That's worth about a four pack of Charmin TP. The real test will be whe......
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He can't talk right now... he's instructing his broker to buy the Bahamas <img src='http://static.myfxbook.com/images/smiley-lol.png' alt='[lol]'/>
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Shankar,
No one can really answer that question for you. There are so many variables here we would have to write a book. First and foremost is the volatility you will encounter taking signals from a daily data-point. It means you will typically be in a trade for weeks while things develop. This can lead to very deep draw-downs. Proper account funding use of leverage are paramount here.
Your best bet here is to sit down and learn first and foremost how to properly test a system, then apply your questions to the test method and see what returns are generated. You will need significant dat......
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[quote]biz0101 posted:
[quote]fxanalytics posted:
The only instruction I can find on the site are for adding an Oanda or an MT4 account. How do we add an FXCM Demo account? I've set one up, just can't figure or find out how to link it...
[/quote]
don't think you can, looks like only oanda and mt4 accounts are supported for now.
but why would you open a demo fxcm account? just open another mt4.. much better platform i would say.
[/quote]
Thanks for the input...
To answer the other question, I'm not a programmer. More of a power user LOL. I tested a lot of different platforms......
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The only instruction I can find on the site are for adding an Oanda or an MT4 account. How do we add an FXCM Demo account? I've set one up, just can't figure or find out how to link it...
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I've been reviewing some of these "incredible" systems... they seem to come out of know where... Do people fire up a dozen or so models and then make the profitable one "public". It's not possible that there are only "winning" models in this data-base and the returns that are being presented are neither probable or reasonable. I think it sends the wrong message...
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On a different note, I'm going to use this first model simply as a test of the application here. My trade model can be quite slow to signal, on average it kicks out about a trade a week but I've had periods where it has left me on my thumbs for three or four weeks. I want to see how the analytics work etc so I'm just going to throw some technical trades in there across the few weeks and see how the application works and what kind of information it gives me.
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It's all about the money... After Refco there was very little left. I had spent three years supporting myself, a lot of capital on R&D and on the business itself to turn the model into something that would handle the kind of funding it takes to make it worth while. I also found myself without a way to generate livable income after the collapse. I don't live in one of the financial hubs so running out and landing a Series 3 job wasn't a possibility.
Just starting the trading over wasn't an option and to be honest the emotional impact of it took some time to get over as well. Decisions ......
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