John T
I have tried for months the method that you have described (letting run without SL) and can say that it worked very well when I first tried ON DEMO ACCOUNT. But as soon as I shifted to Live account....Nyet....Nada......would not work. Moreover as soon as I had placed my 10 trades on the live account it became an uphill battle to keep trading THE PORTFOLIO up only to see the PORTFOLIO siiide back down again a few days later....repeat repeat repeat...
When I complained to broker....his only response was that traders are nervous on Live as opposed to on Demo...(which is also what 99% of traders and teachers say also)
Well that is hogwash becasue my method did not require me to sit and watch I simply found a trend or some kind of extreme low or high and set a short at the top of the chart/market and a long at the bottom and went fishing...checking in days or weeks later.....same as trapping animals....no nerves involved.
Then I read an article from Google where a guy described PLUG IN SOFTWARE. This is software that brokers plug in to delay your trades by 5 seconds or widen spreads to trigger or send out ghost candles to trigger or completely make a successful trade disappear....and much more......not all at once of course.
Which is why I left FXDD after seing before my eyes one of these ghost candles reach down to my SL about 1.5 inches long and trigger it, and jerk off back to where it came from. Now I am with Axitrader whuich will not respond after I asked embarrasing questions...
If you check Wikapedia you will read what a totally infested thing this Forex has become...from the brokers to the Instructors to the quick fix software sellers all leaching off hopeful traders. Is it any wonder that 97 or 99% of them fail?.
If there is any way that 1% of traders can win in this crowd of cock roaches I admit to not knowing their method.
I believe that a software might be able to skim a small percentage off arbitrage, but who WHO could one trust to buy that from.....none are trustworthy in such a latge crowd on outright crooks and criminals ALL SUPPORTING ONE ANOTHER. And just so you know I only lost $1000.
Truly I am an experienced stock and options trader, and not stupid. I watched traders at the Apiary Fund school of forex demonstrate a session of live trading whereafter they had promised to buy all in attendance pizza from the winnings. Well guess what there were no winnings and no pizza.
With only one year of intensive forex training and experience I am tempted to say that the winnings were made some years ago in the first days of Forex...and BIG.
But now I think there are only liars and scammers inhabiting this world....and noe will admit to their level of earnings.