the greatest thing i've ever seen on a forum

[1a2b3cppp]

So, we all know there are forex forums with a lot of peopel who are trying to get rich trading systems. Most of us know these don't work.

What about the idea here? Basically it's a system that goes long, if it doesn't work it goes short, and repeats 7 times until it stops out for a loss or turns a profit.

https://www.forexfactory.com/showthread.php?p=1967227

Supposedly there was another system that goes 24 times.

If you can't predict direction this might be the way to do it.

 

[speedo]

Whipsaw yourself to fame and fortune

 

[Saltynuts]

Hahaha. Roulette. Bet black. Lose? Bet red. Lose? Bet black. Win? Bet black again I guess. Lose? Bet red. Freaking A, almost there!

 

[1a2b3cppp]

It's almost as if gambling has every turn independent of the previous but trading might not be.

 

[fyretrading]

I like it. ive seen some roulette strategies that are similar and semi "work"

 

[Saltynuts]

It's almost as if gambling has every turn independent of the previous but trading might not be.

I wouldn't buy that in a million years.

 

[Scataphagos]

I like it. ive seen some roulette strategies that are similar and semi "work"

Must have been in your imagination.

The probability of hitting any one number is 1:38. They payout is 35:1. Those odds are fixed and cannot be altered by the player. Any strategy which seems to work (semi or otherwise) is random.

 

[Scataphagos]

It's almost as if gambling has every turn independent of the previous

That's half of the definition of gambling. The other half is "the payout is less than the probability of win". The gambler is hoping to prevail in spite of the odds being against him.

Trading is not gambling. The trader is not "hoping to beat fixed odds against him".

 

[rb7]

So, we all know there are forex forums with a lot of peopel who are trying to get rich trading systems. Most of us know these don't work.

What about the idea here? Basically it's a system that goes long, if it doesn't work it goes short, and repeats 7 times until it stops out for a loss or turns a profit.

https://www.forexfactory.com/showthread.php?p=1967227

Supposedly there was another system that goes 24 times.

If you can't predict direction this might be the way to do it.

This is called the 'Martingale Strategy'.
Nothing new here. And that's why casinos have limits on tables.
It has a 100% chance of failing. It a well documented strategy.

 

[fyretrading]

Must have been in your imagination.

The probability of hitting any one number is 1:38. They payout is 35:1. Those odds are fixed and cannot be altered by the player. Any strategy which seems to work (semi or otherwise) is random.

thats why i said "work" I would never martingale in a serious manner