Have i found the holy grail

[TheBramble]

My system works flawlessly all the time.

It gives me a generally consistent percentage of winning trades which over time I have found to be less than 100%. It therefore fairly obviously also gives me a generally consistent percentage of losing trades. My winning trades happen to outnumber my losing trades, though this isn’t a prerequisite for all trading systems for them to be overall profitable and I’d have no problem trading one that a higher number of losers than winners, providing certain other criteria existed.

As I have no control over what the market offers me, I have no control over precisely how and when those winning trades will be presented to me, or the losers.

My system allows for the fact that on occasion, I will register a significantly non-uniform pattern of winners and losers. This isn’t a system flaw, but is as a result of the nature of randomness and its tendency to cluster.

If I ever find the (or a) rule to detect the onset of clustering for winning trades and losing trades, I will modify my system to accommodate that information. Until then, I’ll keep using my system exactly as developed even when confronted with consistently and consecutively anomalous winning sequences and consistently and consecutively anomalous losing sequences.

If your system been providing a positive expectancy over more than 5 years with a max drawdown of no more than 10% at any period over that time, that’s as close to a Holy Grail as you’ll ever need.

Doesn’t mean you should stop searching. That’s part of the juice But don’t hold out for the one-and-oly TRUE Holy Grail when something a bit better then Brasso will clean up your existing system.

I guess what I’m saying is, don’t overlook (or even worse, ditch!) what works acceptably well.

 

[Splitlink]

My system works flawlessly all the time.

It gives me a generally consistent percentage of winning trades which over time I have found to be less than 100%. It therefore fairly obviously also gives me a generally consistent percentage of losing trades. My winning trades happen to outnumber my losing trades, though this isn’t a prerequisite for all trading systems for them to be overall profitable and I’d have no problem trading one that a higher number of losers than winners, providing certain other criteria existed.

As I have no control over what the market offers me, I have no control over precisely how and when those winning trades will be presented to me, or the losers.

My system allows for the fact that on occasion, I will register a significantly non-uniform pattern of winners and losers. This isn’t a system flaw, but is as a result of the nature of randomness and its tendency to cluster.

If I ever find the (or a) rule to detect the onset of clustering for winning trades and losing trades, I will modify my system to accommodate that information. Until then, I’ll keep using my system exactly as developed even when confronted with consistently and consecutively anomalous winning sequences and consistently and consecutively anomalous losing sequences.

If your system been providing a positive expectancy over more than 5 years with a max drawdown of no more than 10% at any period over that time, that’s as close to a Holy Grail as you’ll ever need.

Doesn’t mean you should stop searching. That’s part of the juice But don’t hold out for the one-and-oly TRUE Holy Grail when something a bit better then Brasso will clean up your existing system.

I guess what I’m saying is, don’t overlook (or even worse, ditch!) what works acceptably well.

They do say that activity keeps you young so the search continues! However, more for curiosity rather than expectancy. these days. Money comes in, which is a comfort.

 

[the hare]

So why not do the opposite of what you would have done. Can't be any worse, could it?

Actually it could be a hell of a lot worse.

 

[Joseff]

My personal holy grail:

 

[vaughanv]

You do know counterfeiting is illegal?

 

[vaughanv]

Back on topic...

I've had people email asking if I knew the Holy Grail. Some were tongue-in-cheek requests, methinks, but some not.

I do not consider myself an expert. I've been doing this part-time and occasionally full-time since 1988. I have seen many Holy Grails come and go.

I do not believe an universal Holy Grail exists. Markets are too dynamic for that.

I do, however, believe, a personal Holy Grail exists. To achieve it takes a lot of time and effort. More time than most people have available and more effort than most people are willing to put in.

If Tiger Woods spent a week showing me how he plays golf, will I play as well as Tiger Woods? Definitely not. I would be a better golfer (my current handicap? The clubs.), but it is unlikely that I would be tour material.

So it amuses me to see people thinking that they just have to find somebody who claims to be making money in the markets and then copy them.

Each of us has a style that we are comfortable with. We have to apply ourselves to find it. That is the Method part of trading. It is the Mind (ego) and Money parts that people struggle with.

That's my 2p. It's all I've got left after many failed Holy Grails.

 

[Jackn8]

LOL @ this thread, made my morning!

 

[sunset1]

I will be back posting my entries from Monday 7.30am
It will be entries only as I am only in control of my own emotions and it would be wrong of me to tell people when to exit.
What you have got to remember 20 pips a day can make you a very happy and financially sound trader.

 

[Doomberg]

Hey, i have not read the 14 pages but have you called out a winning trade yet?

 

[Ambrose Ackroyd]

It will be entries only as I am only in control of my own emotions and it would be wrong of me to tell people when to exit.

Never mind emotions, it is also a good idea to be in control of your bladder and bowel movements.

 

[GumRai]

I will be back posting my entries from Monday 7.30am
It will be entries only as I am only in control of my own emotions and it would be wrong of me to tell people when to exit.
What you have got to remember 20 pips a day can make you a very happy and financially sound trader.

I didn't realise that you were intending to give out trade advices. Didn't you say back in post 1 that you were going to prove that you had discovered the Holy Grail?
In my opinion, finding entries is the easy part. Trade management, SL and TP are much more difficult.
Simply posting your entries will prove nothing.
But good luck anyway

 

[Black Swan]

I will be back posting my entries from Monday 7.30am
It will be entries only as I am only in control of my own emotions and it would be wrong of me to tell people when to exit.
What you have got to remember 20 pips a day can make you a very happy and financially sound trader.

For sure,and if (like you), you're spreadbetting then 20 pips at ten quid a pip will give you twice above average salary...Now what kind of account size would you recommend in order to achieve this, given 1% return per day would be an excellent performance?

 

[TheBramble]

What you have got to remember 20 pips a day can make you a very happy and financially sound trader.

Amazing.

 

[robert_505]

I guess it is fairly possible to find The Holy Grail of Trading. But it is not the pips you gain from "series" of 7 trades that matter. As Mark Cook once said: "trading ain't what you think it is!". What does matter is consistency in your approach, your satisfaction from doing what you do and contribution to others, who might need guidance in their trading. You have to work on yourself to find these qualities. I wish you all happy trading.

 

[TheBramble]

But it is not the pips you gain from "series" of 7 trades that matter. [...] What does matter is consistency in your approach, your satisfaction from doing what you do and contribution to others, who might need guidance in their trading. [...] I wish you all happy trading.

Guess we're going to differ then.

What matters to me is how much I make compared with the amount risked. DF statements like “20 pips a day” are totally meaningless. Mind you, I’d argue even with all the other data supplied to enable a sensible evaluation to be made, nothing based on 20 pips per day is going to yield consistent profitability.

Consistency in approach is NOT enough. The majority of traders on these boards are consistent. That’s their problem.

As for happy trading – I think the majority would settle for being miserable and profitable rather than happy idiots.

 

[kimo'sabby]

"20 pips per day"

It's a disaster waiting to happen. When i see "x amount of pips per day" i always hear it in my head with a mid-atlantic accent...

"Hi there! I'm Josh Stevens, author of many books including 'Comfortable Air Travel Makes Sense' and 'Aliens We Are'.
I'm gonna be showing you how to make 20 pips per day in the forex market with a technique so simple, even your grandparents will be calling themselves traders in no time at all.
But first, let's make a summer fruits smoothie, you'll find the recipe for this and more in my new book, 'Smoothies For Drinking Anywhere.'.

 

[robert_505]

Guess we're going to differ then.

What matters to me is how much I make compared with the amount risked. DF statements like “20 pips a day” are totally meaningless. Mind you, I’d argue even with all the other data supplied to enable a sensible evaluation to be made, nothing based on 20 pips per day is going to yield consistent profitability.

Consistency in approach is NOT enough. The majority of traders on these boards are consistent. That’s their problem.

As for happy trading – I think the majority would settle for being miserable and profitable rather than happy idiots.

Well, I must say that agree with you. I don't see where exactly do we differ. I also think that consistency is not enough. You need to be consistent in what makes money for you, i.e. gives you satisfaction. And as of "happy trading" - I would rather be a profitable idiot ;-) God bless!

 

[sunset1]

To the cynical that always seem to crawl out of the woodwork if you know what off means well just
--ck off your comments are in no way justified.

 

[Black Swan]

For sure,and if (like you), you're spreadbetting then 20 pips at ten quid a pip will give you twice above average salary...Now what kind of account size would you recommend in order to achieve this, given 1% return per day would be an excellent performance?

bump..

 

[Ambrose Ackroyd]

sunset1

Don't listen to ar*se-wipes.

Do your own thing mate and best of luck.