Hi Toshi,
It doesn't matter which sb platform you use for your system, cs or IG. In the long run it evens out. I have run many tests on both platforms, with mixed results. You think that net trap would have been positive with capital spreads? you may be right. But come april the same system could be negative with capital spreads, and positive with IG. in my experience This slight variation always balances out in the long run.
I have tried the net trap. it didn't suit my style of trading. As the saying goes "one man's meat is another man's poison " I personally will not dismiss a system because the masses say its crap. I Always respect every system out there as when i look at, i think in a way that i can always learn something from it.. you go through 50 systems and you may extract one ingredient from the last one that you can adapt to your own method.. which gives you consistent profit.
you are right, the majority of so called pro traders, dismiss anything that looks simple, cos their charts look like spaghetti, with 100 indicators overlapping them.
you will test many systems and in the end you will build your own system from them to trade. I have to admit that i have a very simple trading method that i use, which was formulated after testing most of the so called systems run by the top publishers, to name a few, surefire trading, louise woof, wealth builder, atm, tenkei, net trap, and numerous others. Every one of these promises vast riches, but fail. I have on the other hand learnt something from most of them. Maybe its a process of going through the grinder before you find what suits you.
The tenkei system was good, although i didn't use it myself after having tested it. which does not mean that somebody else will not like it, or make it work. I won't pass a judgement on it and say it was crap.
The majority are greedy. you don't need systems to make you 100 pips or points daily or weekly. even if you made 25 points per week, thats 100 points monthly. Now how do you make a decent income from that? you slowly build your betting bank and gradually increase the stakes from £1 to £2 and eventually to a point where you are confident in your system, then you can move onto a gradual £3, £4, till you reach £10 a point.
Its all about having respect for a live tested method of your own and respect for the risk you take. Always start off by taking small calculated risks.
On One of my strategies for the GBP/USD i don't use any indicators, just a 39 period simple moving average on a 2 minute time frame. it has served me well. The signal is generated when i see a candle close above or below the MAV. There are just a few more guidelines i use to weed out false signals. My aim is a mere 15 points. I will explain more in the near future , when i start my journal here, (look out for " daytrade with eddy") NOW you will get people who will give 101 reasons why this won't work in the long run etc, but i will ignore it because it works for me. Use what works for you no matter how absurd it may seem..
no way. Guys, fwiw I'll answer a few points tomorrow re. the TFs I use, the pairs I trade, the indicators I favour, the monthly targets I set and how I attempt to achieve them etc...don't expect a Holy Grail though, as Van Tharp states it exists alright, but each to his own and the journey of discovery to find it..
