Give Up ?

advfntrader: You already have plenty to read here, but here is something on stochastics:

MACD And Stochastic: A Double-Cross Strategy

This isn't exactly what I do, but I am currently using stochastics, MACD, various price-moving averages, and a few other things, not necessarily all at the same time


Good luck.

Regards,
M.

Give up or start by getting yourself a proven trading edge that you can employ is the simple answer.

Some good advice already in this thread, but if you are going to carry on...you should as advised in posts above completely re-examine what your goals and objectives are then develop a plan to meet them. The plan has to encompass a proven trading edge and part of your plan should allow time to develop/acquire one.

Currently, judging by your posts re stochastics you don't have one. Acting on o/b or o/s stochs with the trigger of the lower t/f's rolling over at ma's does not constitute a profitable trading edge as you are finding. This is because you are effectively swing trading with no attempt to determine trend or potential supp/res other than ma's (which on their own do not constitute potential supp/res, particularly on the lower 1hr and sub 1hr t/f's.) Also you are using an indicator as an effective trigger, not price action itself.)

Once you have developed/acquired a trading egde, and as further suggested in posts above, trade it with impunity such that:

a. Ensure that you know it's historical strike rate over an extended sample that encompasses all market conditions.
b. If the strike rate fits your tolerances ensure that you calculate your risk such that it does not cause you to suffer a destabilising loss in your account or a destabilising psychological effect if you suffer a consecutive losing run of trades
c. Calculate the optimum risk to reward profile that best fits this trading edge and optimises the gain from it.

Ie Be in a position that your trading edge can pull no surprises, you know what it is capable of and what the likely distribution of winning and losing trades./runs are, so that when it occurs there is no panic.

I think it was Einstein that noted that the definition of insanity was doing the asme thing over and over and expecting a different result...this is effectively what you doing...change the way you work, get a plan that encompasses a proven edge, or save yourself more pain/time and give it up.

G/L.

I assume you were able to cover your costs, in spite of not being consistent for 7 years ... I gave myslef a 6 month target to get consistent in the Bund. At the moment I am breaking even although am still experiencing off days when I'm better off staying out of the market completely. Hope of success and riches can at times be intoxicating however ... being able just to walk away may be a harder thing to do in practice. Like a recovering alcoholic, I live each day as it comes

90% fail. The odds are firmly against any of us succeeding at trading.

Trading is far from simple. Poor implementation of a near perfect trading plan can result in heavy losses.

Many new and old T2W & other trading forum members talk as if they are highly successful high flying traders to whom success came easy.
Sadly, regarding profitability, i think many members are lying, or kidding themselves, or both.

Trading is not simple. It is a mine field.

This is a very good point. It is easy to believe when reading these and other trading boards that it is just ones-self that is struggling/not profitable and that everyone else is, and the inevitable conclusion seems to be '..it must just be me that is not getting it...what am I missing etc..' This is simply wrong, as JT says many of the posters here will be /have suffered the same trials and errors that you are going thru, you are in good company, lol, and to that extent it is the norm. Success therefore does not come easily and it can take a long while to become consistently profitable.

It is always far easier to impart advice than implement it.

http://www.trade2win.com/boards/567868-post24.html

As an example -

Look at how much effort this guy put into trading & t2w ffs.

I am guessing he never actually traded properly as he never actually found a method that worked consistently enough for him that allowed him to prosper.

If this is so, at least he had the balls and good sense to walk away at the right time.

There is a saying - if you find yourself in a hole - stop digging!

Surely this has to serve as a warning!!!!!!!!!!!!!!!!

Lots of sensible replies already to this BUT I would add that whilst I agree that trading profitably is extremely tough that doesn't mean that it has to be extremely complicated.

When you are banging your head against a wall there is a tendency to think the solution is to bang it harder. Take a pause, go back to the basics, be professional and disciplined.

Ben

This is why most trading courses and systems are a CON.

Because the people that pay for them, do so believing all they need is a profitable strategy to make them money.

Sadly, there are profitable systems all over the web for free.

But few traders implement them correctly.

And if they do, they bring a whole other host of other personal issues to the table which impede their success.