Is There a Strategy or System that I should Use and where Can I Find it?

This is a discussion on Is There a Strategy or System that I should Use and where Can I Find it? within the New to Trade2Win forums, part of the Reception category; Having traded for many years its quite clear that the main reason people trade is to loose money! But they ...

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Old Aug 13, 2010, 8:30pm   #9
Joined Nov 2008
Re: Is there a system I should use, and where can I find it?

Having traded for many years its quite clear that the main reason people trade is to loose money! But they start in the belief that with the intensity and poliferation of these hyped up websites that tell you your going to be rich very quick, that its the next best thing since sliced bread. There are stats available, but its something like 80-85% of traders loose and never year on year make a profit. 10% make a nice living and 5% make a fortune.
So your chances of winning are tiny, as the top 15% include the pros aswell so Joe average doesnt have much of a chance.
But does the normal person get out scott free, oh no you normally spend thousands on the way and loose constantly.But you then have the bug and your hooked so you keep spending.
There are plenty of systems out there but most are just the same group spewing out different named products and giving each other testimonials to make it look good. Goodness knows what stupid named holy grail will be clickbank marketed tomorrow. Lets have a think what i can think of "Forex Devastation" I can just see the sales copy and how it would go. "Devastate the forex spreadbetting companies with the BEST forex system launched this year" .
Anyway back to reality. It takes years of hard work and patience to become a seasoned trader so please dont go off chasing the next holy grail as all you do is keep chasing the next system. Stop, keep your money in your pocket and start learning from the ground up.
Dont get me wrong there are a number of good systems out there and only a few good signalling services so your limited with help. I dot mean for this to be pessemistic I just want to say it as it is. There are plenty of people on this forum who thrive on negative and lack of knowledge comments, so take these for what they are and ignore them. This forum should be used to help others and there are some good people on here for this.
But when you get it right BOY does it work and you get some great money. So look for someone with experience who will take you under their wing and help.
It would be good if we had a section on the forum where stystems could be tested to see them for what they really are, maybe one of our moderators might see this. Wouldnt it be great if we had a section which sifted these out and had real analysis. Anyway my thoughts fornow
Regards
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Old Aug 13, 2010, 9:53pm   #10
Joined Aug 2009
Re: Is there a system I should use, and where can I find it?

I prefer to use a method rather than a system.
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Old Aug 13, 2010, 10:00pm   #11
Joined Nov 2008
Re: Is there a system I should use, and where can I find it?

I agree as a method is a way of doing something, especially in a a systematic way. (definition of method) it cannot be the other way around.
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Old Jan 5, 2011, 11:58pm   #12
Joined Feb 2006
Re: Is there a system I should use, and where can I find it?

Quote:
Originally Posted by pjchalmers View Post
It would be good if we had a section on the forum where stystems could be tested to see them for what they really are, maybe one of our moderators might see this. Wouldnt it be great if we had a section which sifted these out and had real analysis.
- Section to test systems for what they really are
- Sift them out with real analysis

Great ideas. First candidate surely has to be this one http://www.tradingelitemembership.com/ "Trading Elite Club". Wonder if that one can stand any sort of test?

Last edited by timsk; Mar 3, 2011 at 5:05pm. Reason: Housekeeping
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Old Jan 6, 2011, 10:05pm   #13
Joined Feb 2006
Re: Is There a Strategy or System that I should Use and where Can I Find it?

Reason I posted the above rather flippant comments is that I believe that the author of posts 9 and 11 just happens to be the same person that is behind the latest 'attempt' http://www.tradingelitemembership.com/ Sounds good on the face of it doesn't it?

I just had to respond the way I did though after reading some of this thread here http://www.bizoppjungle.com/Forum.aspx?g=posts&t=541 Bit of a mission to read through, but it gets very interesting as it progresses. It seems to me as if the poster above is suggesting what others should do, but not be subject to the same themselves. I don't know to be honest as I also have been there before and am wiser for it.

Anyone involved in what we do obviously needs a level head and analytical brain. I have picked up on the sales points that are promised on the Trading Elite website and have seen them all knocked down on that Bizopp thread. Sure there is some lively posts, but there is some good meat there as well
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Old Jan 19, 2011, 6:20pm   #14
Joined Jan 2008
Re: Is There a Strategy or System that I should Use and where Can I Find it?

Quote:
Originally Posted by pharland View Post
Reason I posted the above rather flippant comments is that I believe that the author of posts 9 and 11 just happens to be the same person that is behind the latest 'attempt' http://www.tradingelitemembership.com/ Sounds good on the face of it doesn't it?

I just had to respond the way I did though after reading some of this thread here http://<b>http://www.bizoppjungle.co...osts&t=541</b> Bit of a mission to read through, but it gets very interesting as it progresses. It seems to me as if the poster above is suggesting what others should do, but not be subject to the same themselves. I don't know to be honest as I also have been there before and am wiser for it.

Anyone involved in what we do obviously needs a level head and analytical brain. I have picked up on the sales points that are promised on the Trading Elite website and have seen them all knocked down on that Bizopp thread. Sure there is some lively posts, but there is some good meat there as well
Would appear the thread you refer above was accidentally deleted -



but a new one was started here -

new thread

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Old Jan 19, 2011, 6:40pm   #15
Joined Feb 2006
Re: Is There a Strategy or System that I should Use and where Can I Find it?

Well Done PS

This one needs to be kept being highlighted for the ongoing farce that it is.

pjchalmers can think himself very lucky that his shovel selling excercise has not been put under test here. He has proven himself to be totally incompetent from day 1. He refuses any sort of trial. He insists on a £100 up front payment for people to be his guinea pigs while he tries out different technologies and trading 'methods' (word used loosely). He treats his subscribers disgracefully and withdraws elements of his 'service' at will, resorting to banning them completely when they dare to question any part of what he is doing.

The original Bizopp thread contained a lot of good quality comments that have unfortunately now been archived. They can still be read though via the link on the first page of the new thread.
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Old Nov 11, 2012, 7:22pm   #16
 
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Re: Is There a Strategy or System that I should Use and where Can I Find it?

A system or strategy has alot to do with what your goals are in trading.

You're never going to find a shortage of methodologies to trade but until you define your objectives and match them to you personality then, IMO, you're spinning your wheels.

Warren Buffett and George Soros are amazing investors/traders that achieve staggering results due to their unique approach to the markets - value investing for Buffett and Soros' Theory of Reflexivity - which is attributed to having their trading approach match their own personality and beliefs about the market.

You trade your beliefs, not the market. Your system/strategy is how you define your criteria (what you trade) and then measure the criteria for your trade (buying, trade management, and selling).

Buffett can't invest like Soros and vice versa just like I can't daytrade like Marty Schwartz but can swing trade more like a cross between Dave Landry and William O'Neil.

My personal beliefs are that there is always a trend somewhere in the market, that the market is in trading range for the last decade and is not prone to a Buy & Hold strategy in the long-term at this moment in time, making money in the market should be easy and you make it easy by having a highly defined set of criteria to be met before entering any position, that controlling risk is the most important thing that you can do to avoid big losses, that avoiding huge drawdowns allows you to keep making money consistently, its better to make small consistent returns that wild gyrations in your equity curve as it leads to greater returns over the long-term, and there are a few others but you get the idea.

Figure out what you believe about the market to be true for yourself and then build an approach around it. Then, practice putting that system/strategy into productive use in the market, observe yourself, observe your results, take lots of notes, seek improvement in the application of your approach along with seeking improvement in the execution of it, and never give up.
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