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I have a long term trend following system for equities in which I pyramid. Each purchase is based on fixed percent risk, and I add whenever a position is up by 15% or more. But backtesting shows that pyramiding only adds about 2%p.a. compared to the same system with pyramiding disabled...

Yes I agree the books are no substitute for screen time. And I agree also with your other point about technical analysis indicators. They are lagging and a complete waste of time. My core system and my other systems are and will be based on pure price action. BUT the problem is, so many...

Haha, yes i share your views. But its amazing how many people even on this board ("elite" traders) that think they can just download an EA from a website and then have it print money for them. Theres no such thing as a free lunch. The steps to developing a mechanical system are, in my...

I agree wholly with your views. Risk/returns look very nice. 10:1 leverage is probably the maximum i would take personally.

Who said it would be easy? It is supposed to be easy?

Interesting how the Yank in second place based his system around daily timeframes, considering the competition was for 12 weeks.

Well, in contrary to the responses above, Alot of guys who have mentored me in the past have done it for free. Budd Fox never really paid Gordon Gekko, did he? I would love to take on the job, as I have a passion to trade and to teach people how to trade, but at this present time, Im not...

Then don't trade with a market maker. ECN brokers dont care how you trade. The more trades = more commission for them.

This refers to the practice of buying and selling currencies pairs such that all positions will usually be closed within the same Forex the trading day. Yes, less time in the market = less market exposure. The day trading idea comes from stock market. Day traders rapidly buy and sell...

Martingdale and anti-martingdale are methods of money management, they are not trading strategies.

Hi Neke, Congrats on your performance in 2007, i didn't read the full thread but i read bits and pieces. One thing I did notice is that while your discretionary options trading was rather erratic in terms of performance, eg. +80k this week, -60k the next, etc, it seemed your automatic...

Interesting thread. Im discussing a forex system which is very similar to this one in the high frequency scalping thread in the forex trading section.

You know when I was designing my system for stocks I spoke to alot of what I would regard as top traders. They all designed their own systems. It seems that its a forex thing that people trade other people's systems? I could never do it. The only way you can have confidence in a system is...

Which pairs did you trade with that system? GBP/JPY seems to have a massive range and give decent trends, but the spread is wider so theres a tradeoff there.

Top post. I was going to reply, but then I saw this and everything I was about to say is contained therein. I especially agree with the conclusion (in bold).

Yeah cabletrader, you are probably right. This is more like intraday trading and not scalping. What exactly does scalping mean? Holding time of seconds?? Below is a screenshot of realtime action and some trades. Yellow dot is for long entries, green dots for short entries. Notice how...

To be honest with you, I dont keep track of what my average initial stop is. Because say the spread is 1 and the commission is 0.5pip. So total costs per trade is 3 pips. EFX for USD/JPY and GBP/USD are almost always 1 pip from what Iv seen from the demo. I've attached a sample of the...

Oooohh, now i get it. You thought i target 3 pips with a 2 pip stop because i said the SYSTEM stats was 1.5:1 average win to average loss. The word average means the "mean". It does not mean every single trade I make 1.5x my risk. This is how I get this statistic. Over a large and...

Hi Cabletrader. My fault, i didn't address your previous post. I do not use a 2 pip stop. The stop is very tight and is trailing. And there are no "targets". Some of the wins are 30-40 pips. But on average, each trade netts 3 pips after spreads and commissions. As to the stop its...

Pippi and bugscoe, thanks for your thoughts.