Consistently Profitable Trading System
- Thread starter aslv2000
- Start date
ET's illustrious MurrayTTurtle tells us how to find support reliably on the daily chart. Thereby proving that ET is not totally worthless as a source of trading ideas.
"trade" is kind of a loose term. One person's "trade" is another's "investment".
There are ideas posted out there all over the place.
I just ran a test on one I originally saw last week (slapped together the rules it had when I read it and just looked at it again) - now I wish I could remember where I saw it...
Anyway, I'd have to look at it closer to see what it was supposed to be doing, but it's pretty easy to find stuff - figuring out if it's worth looking into further is the "work" part.
There are ideas posted out there all over the place.
I just ran a test on one I originally saw last week (slapped together the rules it had when I read it and just looked at it again) - now I wish I could remember where I saw it...
Anyway, I'd have to look at it closer to see what it was supposed to be doing, but it's pretty easy to find stuff - figuring out if it's worth looking into further is the "work" part.
First step to becoming profitable is to learn to control your fear and greed. Maybe the best way to learn this is to trade an amount of money so small that trading is boring. Another way, is to turn off your P&L so you cant see how much you are making or losing and do some kind of panic trade(if you do this dont cheat and start calculating your profits or your losses in your head) After you do that, you will find that many systems that work fall right in your lap.
What you seek has been developed by traders like myself, BUT, I can make more money trading it than selling it to you. And this is what you will find most often. When one spends thousands of hours making systems to produce extremely consistent profits, any other person trading it becomes another person competing for same prices. You could offer me a million dollars and it would not be enough. And don't want to trade OPM cause I can make 100% return than 20% for clients.
The Commercial systems that are sold, some are very good, but all have degrees of drawdown that can choke a hippo.
I have literally bought over 200 systems in nearly three decades of trading, 90% of them were junk, a few were profitable, but I could never stomach 60% drawdowns.
What most traders work at is developing methods to produce the most profits, but by doing so, usually produces larger drawdowns. Some years back, I changed my desires 180 degrees and sought to produce methods that offer the least losing percentages, AND in turn produce less profits. But by doing so allows for larger size to be put on.
Handle
The Commercial systems that are sold, some are very good, but all have degrees of drawdown that can choke a hippo.
I have literally bought over 200 systems in nearly three decades of trading, 90% of them were junk, a few were profitable, but I could never stomach 60% drawdowns.
What most traders work at is developing methods to produce the most profits, but by doing so, usually produces larger drawdowns. Some years back, I changed my desires 180 degrees and sought to produce methods that offer the least losing percentages, AND in turn produce less profits. But by doing so allows for larger size to be put on.
Handle