What you call a holy grail should be considered a necessity for putting on any trade. Only after you have this do things like risk management and psychology matter.
Do you believe in a holy grail?
- Thread starter tandh
- Start date
A thousand pardons oh mighty one.
Moving averages are indicators.
If one doesn't read. Otherwise, it takes days and days.
You're welcome, though the link was posted for the OP.
You remind me of the guys who go into an established field, say physics, and decide to redefine one or more established terms to mean something they were never meant to mean. These people are called cranks.
A holy grail trading system is one that never loses ("100% system").
Perhaps you shouldn't use words you don't know the proper definition of.
Yes, but I don't use them to day-trade the Forex, because my price action pattern appears only when the market is trending.
Sure, but I am talking about finding your own winning price action pattern, not using patterns that have already been discovered by another trader. Keep in mind that if a trader finds a highly profitable price action pattern, he won't sell it to the public for twenty bucks on Amazon books, he will use it quietly and make millions. And yes I read a lot, more than 300 trading books so far and still counting.
The holy grail system will not only have a 100% winning rate, but the minute you initiate a trade the price will immediately go in your direction and never look back, never revisiting your entry point!
And of course it will also allow you to liquidate your position at the best possible price, at the extreme high of the move (or low for short positions), just before the reversal
http://i.imgur.com/JloN4uP.png
http://i.imgur.com/lrEI55l.png
http://i. imgur.com/OzeOoFh.png move since feb,using this simple 3 pt method,on macro then micro charts,you will always have an edge in forecasting
You apply this process to naz,dow trans,spu's ,japan,dax,and china collectively and the surprises are few
no such thing as 100% but if you can get above 70%,you have found one,then it's up to you to manage the 30% , to hang on to the 70
http://i.imgur.com/lrEI55l.png
http://i. imgur.com/OzeOoFh.png move since feb,using this simple 3 pt method,on macro then micro charts,you will always have an edge in forecasting
You apply this process to naz,dow trans,spu's ,japan,dax,and china collectively and the surprises are few
no such thing as 100% but if you can get above 70%,you have found one,then it's up to you to manage the 30% , to hang on to the 70
If I understand your charts correctly you are using the Market Profile approach for forecasting purposes.