What Holy Grail really means in Forex?(Need experienced traders comment) - Page 3
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Thread: What Holy Grail really means in Forex?(Need experienced traders comment)

  1. #21

  2. #22
    you simply don't understand the meaning of 'Holy Grail'.

    It's not just any system that generates a profit...

    And if you believe you have a system that can be placed into an EA and earn money long term, you are almost certainly mistaken.

    The planet is filled with beginner traders who've never made any money and believe they will earn a living at trading.

    The point you do not understand is that market conditions change and no 1 system (or EA) can earn a consistent profit long term.

    A successful trader doesn't repeat his method year in, year out, he simplifies it often...

    The thought that there are people out there claiming that the holy grail of trading secret is not true.

    The nearest thing is High Frequency trading performed using sophistied software that detects large institutional transactions and uses clever algorithms to place a trade microseconds facing it. But that's not really possible for the average individual and it's not even trading.

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  3. #23
    Quote Originally Posted by ;
    LOL, this only shows indiors that are on most MT4s and such as all indiors, they show what has happened, not what is going to occur. They've been in existence for ten years.

    I've tested this and although it's helpful, it merely shows once an instrument has been steadily climbing or falling, and it will be no indiion that it will keep doing so. In fact, if an instrument has been rising so strongly that all the indiors reflect that, it has likely run it's course and is expected for a retrace.

    A Holy Grail can't really exist since if everybody had it, where could the losing traders come from to provide the winnings? There must be winners to pay the winners...

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  4. #24
    Quote Originally Posted by ;
    Hello, I know we keep saying that there is not any such thing as holy grail in trading. But what does holy grail really means? Let us put aside money management and plogy . Let us say I'm looking for a system that with 60%-65% accuracy after backtested if for around 300-500 transactions or maybe 1000 transactions, assuming 1:1 risk and reward ratio. The machine should be 100% mechanical rules or at least hardly any discreet involve. With these conditions to get a system that I'm looking, am I looking for holy grail? Comment and advice from seasoned traders...
    The holy grail is in fact quite simple. Does not matter what time period you trade. I just trade price action and by taking a look at the charts:

    1. When there isn't any chance, do nothing. Do not go looking for something which isn't there.
    2. When you see a trade you prefer, place clear rules about your trade (why you took the transaction, what would invalidate that reason, trade size, profit target, SL) and confirm that the trade appears reasonable based on these rules.
    3. Place 1 trade. If it goes against you, do not add on.
    4. Above all. . .BAIL THE 2nd YOUR REASON FOR ENTERING A TRADE CHANGES. Don't hold on to your position hoping it's going to turn around. Don't loot at time frames that are greater to warrant holding onto the position. Do not start looking for reasons to keep the trade. Take the small loss and move on.
    5. In terms of closing the transaction, some individuals have a hard target and others are more flexible (they will proceed the TP around based on market conditions, close the transaction regardless of the price prior to the market close / economic launch, or some more conservative traders will probably close the trade the moment a contrary signal appears).

    That is it. For new traders, you may be wrong a majority of the moment, but if you reduce your losses small and allow your correct trades operate. . .you could be profitable. And of course, with time you'll get better at spotting winning transactions.

    The reason people lose is that they don't want to admit they are wrong and will continue to their losing positions (I used to do this too). Do not. You could always reenter the transaction afterwards. And trust me, in case you daily trade, you won't remember how much you misplaced or exactly what price you bought/sold it after a few days (definitely not after a week) unless it's a significant win/loss. Take the loss and reside on to trade the following day.

  5. #25
    I suppose Holy Grail may have a couple meanings concerning trading. It might indie a system that wins for anyone who uses it. I really don't feel that sort of holy grail exists. No two traders trade alike. But it might indie a system you could trade for a consistent profit. I know of many people who've discovered a system that is right for them. Usually that requires several years of study and refinement. Typically, they build upon the thoughts. My advice is to study what others do, however, create something that is right for you. Take a hint from someone who's been down the road and commerce in demonion until you are consistently profitable. Do not be shocked if that requires 10 years of work. That's exactly what it took for me personally and I'm just an ordinary man. -G

  6. #26
    There cannot be more than one Holy Grail! It's called THE Holy Grail because just one exists and has never been discovered!

    Concerning trading, it indies that the ultimate egy that constantly generates a profit in most conditions, long term.

    And this kind of method doesn't and never will exist.

    A lot of people believe they have discovered it but when conditions vary (as they always do), it blows the account...


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  7. #27
    Anyremote: The holy grail saying has become a cliche really, it certainly depends on what you really think it is on your own, more often than not traders say you shouldn't look for such holy grail in the comprehension that you can't always achieve a 100% winning trades and no losing ones, however there are so many distinct opinions as heads on earth, worry not afterward for what the saying means...

    I believe you're right on your own route to look for a profitable trading methodology, although achieving more than 60 % is cerainly difficult and requires lots of ability and screen time more than back testing, I also believe there is not truly any full mechanical method, and no matter how rigorous your rules are, experience will teach you if your trading signals aren't okay to follow (or Okay to be overrided).

    In short: I don't think you're on the lookout for a holy grail but you will need to conform with less of what you describe at least for the start learning curve, '' So yes, it is possible but I think you won't have the ability to eliminate the discretion component of the decision making process.

    I write concerning the method that I use in my webpage with tons of examples in the event you're interested, it has around a 1:1 risk reward ratio and also training I believe you can get around 70 % winning trades, of course it'll be up for you, just visit my profile.


  8. #28
    I won't believe myself as newbies although not quite profitable traders as well. That's why I try to find a system which is less dependable on discretion since I do not really trust my experience or intuition yet.

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