Investing in Forex

Apr 30, 2018 at 06:27
6,977 Views
177 Replies
Member Since Aug 05, 2019   50 posts
Sep 12, 2019 at 06:01
Greenwood posted:
So many people don't seem to have any patience when trading....then they wonder why they blow their acount

I agree…Many traders enter the forex market every day, but many of them fail because they focus too much time on creating just the trading strategies which leaves them with little or no energy to develop proper discipline and they let emotions rule their mind.
Member Since Apr 13, 2018   22 posts
Sep 12, 2019 at 08:09
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.
Be in time
Member Since Sep 12, 2019   9 posts
Sep 12, 2019 at 08:39
TaloR_11 posted:
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.


True point. Most people do not understand this. A robot is designed for specific market conditions. These conditions may change and it is when this happens that a human must adjust or remove the robot
Member Since Jan 05, 2016   1189 posts
Sep 12, 2019 at 10:32
TaloR_11 posted:
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.

Properly designed automated systems require minimal if any human interaction.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Jan 05, 2016   1189 posts
Sep 12, 2019 at 10:32
burstfiltering posted:
TaloR_11 posted:
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.


True point. Most people do not understand this. A robot is designed for specific market conditions. These conditions may change and it is when this happens that a human must adjust or remove the robot

WRONG.
Properly built automated systems work across ALL market conditions.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Feb 05, 2019   43 posts
Sep 16, 2019 at 11:30
Professional4X posted:
burstfiltering posted:
TaloR_11 posted:
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.


True point. Most people do not understand this. A robot is designed for specific market conditions. These conditions may change and it is when this happens that a human must adjust or remove the robot

WRONG.
Properly built automated systems work across ALL market conditions.

Is there on myfxbook any of such system? I have never seen the EA that works with any conditions.
my experience is my profit
Member Since Jan 05, 2016   1189 posts
Sep 16, 2019 at 17:18
Prest posted:
Professional4X posted:
burstfiltering posted:
TaloR_11 posted:
Professional4X posted:
pullpotential posted:
It is impossible to avoid emotions we are all human. you need to put structures and strategy in place so that emotion can be controlled controlled

If you have problems controlling emotions during your trading, then you should automate those systems where emotions are impacting you.

automated systems need to be controlled and adjusted according to the market. so, robot trading includes some human interruptions.


True point. Most people do not understand this. A robot is designed for specific market conditions. These conditions may change and it is when this happens that a human must adjust or remove the robot

WRONG.
Properly built automated systems work across ALL market conditions.

Is there on myfxbook any of such system? I have never seen the EA that works with any conditions.

They exist.

But you aren't going to find people selling them for $99,95 or whatever absurd price people are willing to pay for a hyped up EA.

Ask yourself a simple question, if you had an automated system that no one else has, that is constantly and consistently making you a solid profit across all market conditions, why would anyone sell it? They wouldn't. Why sell something worth BILLIONS of dollars possibly in profits.

The answer is simple, NO, You wont find it on MyFXBook or any place else available to the general public,

They exist in private collections, built by Quants and Developers that know what they are doing. If you want one of those kinds of systems, then you have to be prepared to devote years of your life developing them and a considerable amount of money to get them, and you have to actually know what you are doing.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Jan 05, 2016   1189 posts
Sep 16, 2019 at 17:49
Even systems that work across all market conditions lose trades. They aren't the Mythical 'Holy Grail', those simply do not exist, The closest you will get to a pure win only system, is by using latency arbitrage. And while that would work, your broker will quickly catch on, and they'll freeze your account. There are systems that do exist that will make profits across all market conditions. But, as I've said you simply won't find them being sold for $99,95 or whatever. Why WOULD they sell them? They'd have no need for anyone to give them money, they would be extremely wealthy, or at least well off enough to never need to sell it.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Apr 18, 2017   718 posts
Sep 25, 2019 at 15:12
Professional4X posted:
Even systems that work across all market conditions lose trades. They aren't the Mythical 'Holy Grail', those simply do not exist, The closest you will get to a pure win only system, is by using latency arbitrage. And while that would work, your broker will quickly catch on, and they'll freeze your account. There are systems that do exist that will make profits across all market conditions. But, as I've said you simply won't find them being sold for $99,95 or whatever. Why WOULD they sell them? They'd have no need for anyone to give them money, they would be extremely wealthy, or at least well off enough to never need to sell it.

Basically; there is nothing like Holy Grail in Forex; since it’s a decentralize market! so; expecting 100% profit is an illusion here!
Member Since Jan 05, 2016   1189 posts
Sep 26, 2019 at 08:23
AmDiab posted:
Professional4X posted:
Even systems that work across all market conditions lose trades. They aren't the Mythical 'Holy Grail', those simply do not exist, The closest you will get to a pure win only system, is by using latency arbitrage. And while that would work, your broker will quickly catch on, and they'll freeze your account. There are systems that do exist that will make profits across all market conditions. But, as I've said you simply won't find them being sold for $99,95 or whatever. Why WOULD they sell them? They'd have no need for anyone to give them money, they would be extremely wealthy, or at least well off enough to never need to sell it.

Basically; there is nothing like Holy Grail in Forex; since it’s a decentralize market! so; expecting 100% profit is an illusion here!

Exactly.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Member Since Sep 26, 2019   11 posts
Sep 26, 2019 at 08:47
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail
Member Since Feb 22, 2011   4862 posts
Sep 26, 2019 at 11:25
Debtless posted:
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail

There are actually no holy grails
ANd if there were any, nobody would share nor sell them,
as such holygrail would make enough profit just trading your own funds,
no need to deal with demanding clients.
Member Since Sep 27, 2019   10 posts
Sep 27, 2019 at 11:15
togr posted:
Debtless posted:
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail

There are actually no holy grails
ANd if there were any, nobody would share nor sell them,
as such holygrail would make enough profit just trading your own funds,
no need to deal with demanding clients.

Don't you consider yourself to have the holy grail? Your accounts seem to be performing well.
Member Since Feb 22, 2011   4862 posts
Sep 27, 2019 at 12:10
pleasingoink posted:
togr posted:
Debtless posted:
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail

There are actually no holy grails
ANd if there were any, nobody would share nor sell them,
as such holygrail would make enough profit just trading your own funds,
no need to deal with demanding clients.

Don't you consider yourself to have the holy grail? Your accounts seem to be performing well.
Nope.
I have just developed a portfolio of different systems to make a decent profit each month.
I did stop looking for holy grail as it is waste of time
Member Since Aug 27, 2017   994 posts
Sep 28, 2019 at 10:55
togr posted:
Debtless posted:
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail

There are actually no holy grails
ANd if there were any, nobody would share nor sell them,
as such holygrail would make enough profit just trading your own funds,
no need to deal with demanding clients.

Basically; scammers are active on online marketing use this type of key word for selling their product!
Member Since Oct 24, 2019   45 posts
Nov 26, 2019 at 11:56
Some new traders who are working full time jobs which can limit their time and effort for trading Remember your success depends on you as much you will learn and experience, It needs a lot of learning and experience to reach desired profits so before you invest your learning is must .
Revenue is vanity, profit is sanity, but cash is king
Member Since Aug 27, 2017   994 posts
Nov 26, 2019 at 15:08
Baazex posted:
Some new traders who are working full time jobs which can limit their time and effort for trading Remember your success depends on you as much you will learn and experience, It needs a lot of learning and experience to reach desired profits so before you invest your learning is must .

But for the beginners till now part-time trading is much better choice; since the success ratio is below 10% in Forex! And there is no guarantee.
Member Since Feb 22, 2011   4862 posts
Nov 27, 2019 at 08:28
togr posted:
pleasingoink posted:
togr posted:
Debtless posted:
Holy grail doesn't need to be 100% win rate but needs to be a strategy that really works and one can use it day in day out and at the end of the year you will be nicely in profit. For me that is the holy grail

There are actually no holy grails
ANd if there were any, nobody would share nor sell them,
as such holygrail would make enough profit just trading your own funds,
no need to deal with demanding clients.

Don't you consider yourself to have the holy grail? Your accounts seem to be performing well.
Nope.
I have just developed a portfolio of different systems to make a decent profit each month.
I did stop looking for holy grail as it is waste of time

Recently I am finishing 6 months testing of trading for system which makes more monthly profit than max DD.
So monthly profit is about 5% and max DD 4%. For me it is sufficient. I do not need a holy grail if the system's performance remains like it is :)
Member Since Aug 27, 2017   994 posts
Nov 27, 2019 at 14:20
Roberto21 posted:
Forex market is so complicated above all when you are a beginner , and there is lots of chances to take wrong decision even when choosing a broker . so the importance of a fx mentor is more. but dont fall a scam , good luck

Got your point; but as you know it’s not an available option to all: manage a FX mentor!
Member Since Oct 24, 2019   45 posts
Nov 28, 2019 at 11:29
Choosing a right broker for you is a bit complicated as there are many factors the broker should be experienced , must have technical trading skills and knowledge he must be regulated and have transperancy.
Revenue is vanity, profit is sanity, but cash is king
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.