Forex trading is difficult!!!

Well thanks for the slap in the face and thanks for taking a look.. I guess I am not such a good writer after all.

I know you find this hard to believe...backtesting is not the end all...its just not that easy.

Michael B.

Quote from tonyzhou:

I took some time to read the thread, but I cannot get the idea. Where can I get detailed information?
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As I see the daily moving average does not work very well, (I really think trend indicator is very good for daily system), I looked into 1 hour chart.

The 1 hour chart's problem is sometimes, the heavy up/down will happen in 1 minute, say 60-80 pips in 1 minutes.

ok, now the trend indicator cannot work in 1 hour chart. So i guess we cannot detect those sudden up/down to profit. And the only way to prevent it is to use stop loss/trailing stop.

However, we can guess after those sudden up/down, there will be probably a correction there.

So I use simple RSI, and a combination of stop loss and take profit.

In 1 and half year, profit 4082 pips, relative drawdown 280 pips.

OK, for 20% fund loss tolerance, it requires $1400 in mini account, and profit is $2700 a year, so the annual return is 190%

But i am not feel good for 70% loss trade and 30% win trade.
 

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:-). English is not my first language. Frankly speaking, reading an English book is not so difficult to me. But reading forum is more difficult to me.

Quote from ElectricSavant:

Well thanks for the slap in the face and thanks for taking a look.. I guess I am not such a good writer after all.

I know you find this hard to believe...backtesting is not the end all...its just not that easy.

Michael B.
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Are you Japanese? just curious...


Quote from tonyzhou:

:-). English is not my first language. Frankly speaking, reading an English book is not so difficult to me. But reading forum is more difficult to me.
More...
 
The only success I have is with Forex. Lost big money in futures and small in stocks.
I like reading these threads where it seems almost no one has a clue, it makes me think forex will continue to be the market to study.
 
Well if he is not Japanese then what nationality might he be ...:)

Quote from roberk:


I like reading these threads where it seems almost no one has a clue, it makes me think forex will continue to be the market to study.
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From what I understand Idealpro is what they use. I think there are Marketmakers within Idealpro and I believe Idealpro was created by IB.

I cannot answer you directly, but I believe the ECN model might be the comparative model.

I will say that any dealer who accepts orders from their clients with minis (10k units) or anything under lots (100k units) would have to collect enough orders to trade lot size...directly with the Banks. IB allows single unit increments over a certain amount causing in Forex what would be comparative to odd lots...I am not familiar with the arrangement that IB has with the various Banks and you will need to ask them. They are active in ET and frequent it often and they are a sponsor here.

Michael B.


Quote from baidu2005:

ElectricSavant, do you know IB is a dealing desk or non dealing desk broker?
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