December 2009 Question of the Month - What's your strategy?

[robert1]

mirror trading system

in responce to the december question. a trade system that might work I call the mirror. what you do is watch all trades that I take and do the exact opposite. since I consitently lose money, then you should make money.

 

[Pharaoh]

Sounds like Robert1 and I could start a new service called "Trade against us"

 

[378kris]

Is anybody aware that if a 17 pip take profit is set with a very large or no stop loss for the last qtr of 2009 on the GBP/USD on a daily basis the winning percentage is 83%. ???? Now to worry about the other 17%..

 

[Pharaoh]

A lot of these so called "never loose" or "95% successful" systems use over-optimized back testing in combination with a small TP and huge SL. They can work for awhile until you get wiped out by a couple of losers in a row.

 

[MACH26]

Haha that's funny I use the same two indicators. I've been trading full time for almost 2 years. I use the advanced synergy/compass and stealth for cross ref. I've noticed lately that I rarely use the stealth much as I've gotten very good at reading charts and shadowing the news. I also visit two trading rooms per day, one at that start of the London and the other New York. The odd hours kinda sux but it's better than getting a job. lol. Hey Mach have you tried the compass trading rooms? I've had alot of success with them so far.

Hi Indypip,
No, I haven't tried their Trading room yet, I'm trying out another couple first. I found out that Stealth is slightly more adaptable because it was designed to work on more charts and seems to pick up reversals slightly earlier. I seem to be working towards lower timeframes and scalping off the M5 chart using momo and a reversal indicator. I'll build up some profit then look at Compass trading room. Their support has been excellent

 

[marcus1rex]

A lot of these so called "never loose" or "95% successful" systems use over-optimized back testing in combination with a small TP and huge SL. They can work for awhile until you get wiped out by a couple of losers in a row.

absolutely true. well said.

 

[fxvoilaaa]

whats a pity is people still fall for these systems with no stops!