Professional4XUczestnik z Jan 05, 2016 1189 postów
Nov 14 2019 at 02:39
My post is in the GENERAL not in the systems section... thus in my context 'Holy Grail' only means as it's defined in any dictionary: any greatly desired and sought-after objective (f.e. Merriam-Webster) - nothing more nothing less... a FIGURE OF SPEECH... I though I explained it well above 😄
It's clear what you r trying to say - and I agree with you - there is no 'holy grail' system and no one should claim they have it (as it was 15 years ago when many called their scammy EAs like that)... I only wanted to emphasize the paramount importance of FA, very often neglected by traders - nothing more nothing less... There is nothing/very little discussion on FA, why not do it? alternatively you may write to the moderators and ask them to remove these 'Holy Grail' words from the title of this tread and replace them with something more suitable for you - I will not object 😐...
NO don't remove 'holy grail' from the thread, it's actually a beneficial discussion and the removal of the terms might change the context.
No worries. It's not like we're actually angry at each other, it's just a friendly but somewhat serious discussion of the term 'holy grail'.
It's ok to have disagreements, it gives everyone an opportunity to grow and understand more.
In regard to the term 'Holy Grail'.....
It's a term that I think is thrown around a little too often. I'm confident you would certainly agree with that. :)
only a bit disagree with you in 'FA provides analysis of events that have ALREADY taken place.' - a sharp FA analysis may predict new trends and changes in present ones etc (sorry sorry not 100%)...
good trading to you 😎
Yes I think we're actually agreeing here on this.
My comment about 'already taken place', wasn't clear I think, what I was trying to explain was that FA uses previous similar events and news and such, and based upon those past event such as a sudden change of interest rates for example on a pair, we know that typically a currency pair is going to move.
For example if EUR/USD is the currency pair, and the Feds for USD suddenly decided that interest rates were going to move from say 3% to 18%, we would with a high probability see a market spike for the currency pair. We know this because of the interest rate change, and the historical data paired with the responses that happened when similar events took place.
And we know in advance this FA Event is going to take place because it's a scheduled news event which we can easily monitor for.
With this kind of event, I would probably place a pending long with a pending short on EUR/USD and set it up as a OCO (one cancels other) kind of entry. This would grab the spike. But it's also not a guarantee of profit, because it could be a spike then an immediate retrace. Which if this happened, I have a bot which monitors for this specific setup and would issue a coverage trade, and play it out to a break even point and close the basket to get out of the markets with little to no risk or loss.
That's more or less what I was trying to say when I said it was a rearward facing analysis.
I'm not great explaining this sometimes. Does that make more sense what I mean?
If it looks too good to be true, it's probably a scam! Let the buyer beware.
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