if you are trying to come up with your own strategy i'd say the 90% could easily be true. if you have learned a working strategy or even just realistic theories of a working strategy from someone i'd vastly improve your odds to say only a 50-60% failure rate. since i started working at my prop shop we have hired about 40 people and about 15 are still with us and profitable- and we have a working strat we teach you day one and still that failure rate (through the most volatile market in a few years)
That's quite a high success rate, I'm not sure but I don't think the even the turtles was that high. Goes to prove that it's not the strategy which makes the money, it's the trader who trades it, some people will lose even with a good strategy while others can make money even with a bad one! Home grown strategies based around sound money and trade management seem to be the best.
Price made a daily high and, uh hum, moved in the opposite direction, some may say "reversed", for over 40 pips.
Hi guys, a bit busy, so I'll just update my position, stance and reaffirm my thread ..... first, I consider it serendipitous to have found ET. There is no better board on earth IMHO. And such great advice for us newbies, so coming here = I at least got this right. So far, clearly I'm a netloss trader, but I can turn this around. I've been broke to the bone 4 times in this life but always turned things around fast. My low position size here will give me staying power to either learn, unlearn or both. ------------------
so student hat off for now and back to work .... I have 1 ongoing 1mL EurUsd short and one pend order. So no change here. The pend should trigger soon. If right on direction I will add more shorties. ---------------------------- Stand firm on my thread call for a major bullrun in $ = my EurUsd call targets. Taunted by everybody, even by worthless currencies, bet against recently by the German govt. & other euro govts., scoffed at bigtime by Washington, America's enemies calling for his death, you know the story ... but here is what this newbie is saying about him ... he still has the heart of a champion. If he can just put on his shoes and come outdoors, the jackasses will bolt for the hills. My money is on $.
Thread's LONG $ stance main & ancillary evidence (1) EurUsd (57.6% of DX) 60-min. 5 waves down = trend reversal signal occurred. Chart 1-2 pages back remains in force. (2) DX 9 waves down = wave C done. But we also have Daily trendline breakout. Good +ves here. Daily chart 3 pages back. (3) DX component GBP (11.9% of DX) surrendered already, still true, as long as Sept 10 GBPUSD closing holds firm, this is still in DX's favor. (4) DX component SEK (4.2% of DX) via USDSEK is THE ONLY one to take out a wave high already. So this one is very strongly in DX favor. (5) USDJPY (13.6% of DX) looks like its ready to go north. A move past 92.4 will confirm this. If so, a good +ve for DX. (6) USDCAD (9.1% of DX) has broken the downtrendline convincingly. Now need to take out 1.0931 for definite proof. If occurs, this will take out Crude Oil too, a singular DX enemy. (7) No +ve DX evidence from USDCHF (7) NZD & AUD, not DX components, look like they're ready to roll over. AUD has not broken any trendline but NZD has. And if AUD signal occurs, this will take out Gold too, another DX enemy. ------------------------------ Now we wait.