Well ultimately I plan to die and drop back to being a break even trader I guess Although I have a good system, it's not the system that's making $$$'s it's me, 9 years or something of experience, I'm likely using the same system as I was losing with 8 years ago, the difference is I can finally trade it live. The secret is in keeping is simple stupids!!
I agree. The system is the same. Learning how to trade it can take a lifetime. And sometimes, dying early at the top is better than living longer and dying at drawdown.
Dying with money unspent in my trading or bank account will negatively effect my high score. I've been retrying a few of my previously losing methods and got to say, they all looked good back then but failed, but look good and work 9 years on.
try cutting your losses short, and letting your profits ride. If you have correctly counted the cost of war, you will win. That's the system. It always works over time. How much time? Well, that's the risk. Instead of searching for a system, or claiming there is no system, just accept it and start learning how to trade it.
But that's complete BS, it appears random, but that's just cause you don't understand it, it's actually very simple too simple and over complicating it is why most people won't get it. Don't get me wrong, TA, candlestick patterns and all the rest of it are rubbish to give false hope and lose your money, same as H4 trading. Give M1 or close to a good 6months of watching and learning, you won't go back, your told it's more random and noise but those are lies to yet again take your money. If you think that's true, why are you even trying ??
Correct!! It's not the entry which counts, you can edge your bets on that don't get me wrong, but it's what happens after, some times you want to let it run, sometimes you'll realise it's about to turn against you and bail for +5, or -5 less than SL loss. Less focus on the entry, more about managing it, setting a 200SL and 200TP and walking away isn't trading, it's just hoping, no wonder you'll think it's random.
The OP is wrong. Price is not random. There are systems that work, but nobody is going to hand him one on a silver platter. Sorry 'bout that. As far as entries: they do matter. Great trades start with great entries. Lousy trades start with lousy entries. IOW if you have a great entry, your exit will pretty much take care of itself. But if you have a lousy entry, that's when you have to manage your exit like crazy to save your ass. My advice: stop taking lousy entries aka get a system that works and stick to it.
Disagree on the entry side, yes there are good entries but trying to accurately predict what the market will do in the next 10mins is a fools game, even good entries go wrong.
Good entries based on guesswork often go wrong because they are merely lucky or unlucky. Good entries based on scientific analysis (a very rare phenomenon in the trading world) rarely go wrong. Most trading entries are based on iffy patterns, iffy bar analysis and iffy indicators. Very little of it stands up to scientific scrutiny, hence the unfamiliarity among traders of what a science-based entry can accomplish.