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Investment Forex Version 21, Foreign Exchange Market Discussion

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TheKraken
post Dec 10 2020, 03:20 AM

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There are lots and lots of strategies that can makes consistent money. Look around on youtube. Like this for example, looks legit even though I haven't backtested the strategy myself: https://www.youtube.com/watch?v=elCAnL_Sw4k

People are struggling in trading because of a combination of factors:

They want to win all the time, but every strategy will have its bad period, there will be a period where consecutive losses will happen, and if people are not familiar with the strategy - for example, if they don't develop it themselves, they just got it from someone else, never back-tested it properly - then when a bad period comes, 99% of the people will start losing faith and look for another strategy, another holy grail.

Whenever I have friends who are newbies, asking me for winning strategies, I always give them one strategy (just to test their EQ) with the following stats:
- winning percentage around 46-55%
- Each win is 2R (i.e. if you risk 1% of your account, you will gain +2% of your account on each win)

but...

- it may have have 15 maximum consecutive losses (from backtesting 10 years of data)

but

- it will also have 10-15 consecutive winners.

Over a one year period, it can return 100% easily on EURUSD and GBPUSD (just two pairs).


and NONE of these 'friends' are able to execute this strategy despite it's proven track-record. They all gave up after suffering 6 to 8 consecutive losses. I told them, if they risk 1% of their account, a drawdown of 6% to 8% is nothing to worry about. But this is human nature, losing demoralizes people. sweat.gif



QUOTE(cmk96 @ Oct 24 2020, 04:59 PM)
I have been here since 2008... no one share drawing or strategy here.

Maybe this is "C" platform.... go to "M" websites.... you see tones of strategies...EA... Even give you investor pw.
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TheKraken
post Dec 10 2020, 08:28 PM

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if you can keep it up, in few years time, you can become richer than Bezos
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QUOTE(cmk96 @ Dec 10 2020, 10:31 AM)
For me risk:reward is the most important...

This year i made 846.4% from GBPJPY alone...

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TheKraken
post Aug 29 2024, 09:14 PM

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QUOTE(gomydata @ Aug 18 2024, 06:52 PM)
Please share your forex strategy here. I saw someone are making 30% yearly and continues for 2 years online in fxbook. Another making 100%  continuesly for 5 years from Malaysia. Anyone know how they make it
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Can you show me the myfxbook link to the guy that made 100% continuously for 5 years? Then I will be able to tell you whether this guy is legit or not.

 

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