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17558473 No.17558473 [Reply] [Original]

Or is it a meme?
I'm studying hard to find some good strategies for forex and trading in general.
I don't think i will make it in one single shot, but i would like to go on with trading.
So far very few of the traders i see seem to be really successful.
Many of them just pack a lot of well known bullshit strategies into courses and try to shill them, so real trading doesn't seem their main business.
I'm struggling to find good strategies, but so far backtesting doesn't seem very convincing.
Fuck it, a lot of strategies have a success rate that is less than 40%, if you throw a dime and make a good money management you can do better than that shit.
What do biz, is it really possible to be a successful trader if you try hard?

>> No.17558536

are you a bull or a bear?

>> No.17558585

>>17558536
Right now i'm trying mostly forex, so being bullish/bearish isn't really important, i usually prefer to short.

>> No.17558614
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17558614

>>17558473
Trading is like jumping over a chasm. If you're even 85% of the way there in skill, you still fall in. That's why people typically will either become super wealthy or lose money in the markets, not much middle ground. But what "well known bullshit" are you talking about? Just using divergence trading alone boosted me to 60%-70% winrates and that goes almost to 100% when used with supports and resistances

>> No.17558670

>>17558614
So far i'm trying several indicators, some of the most common are complete garbage and give a lot of false signals.
Do you actually trade for real or just demo?

>> No.17558730

>>17558473
you cannot learn how to trade. because if you someone shills you his strategy, that strategy wont work anymore. go figure something out. glhf

>> No.17559320

>>17558670
Yes I trade. Can you tell me one of the strategies you've tried without success?

>> No.17559547

Whenever you make money trading, someone else is losing it. Hence why it's so hard.

>> No.17559577

>>17558473
you are never going to win at trading. just be a value investor and buy index funds

>> No.17559661

>>17558730
this, OP. why do you think every legends keep their strat a secret? because they want to keep on making money. If you share your strat, it will render useless right that second.

Figure your own trading strat. Then test it on different asset that has same properties/market by using the same parameter. If the profit is consistent, use that strat. Dont try to improve it, make money first.

Remember that market is full of randomness and uncertainty. To approach it you have to be like an engineer, which is you should be comfortable with errors (losses), always uses approximation, and reactionary (not trying to predict the future, figure your next plan as you go)

and not approaching this market like a mathematician, which cannot take errors, prefers accuracy (trying to pick tops and bottoms), and predictive... thats why engineers can do good in the real world, they have make peace with randomness and errors..

>> No.17559718

>>17559547
Literally "iron hands" moonboys who hold through 85% dumps are the ones losing money. The market has no tolerance for emotions and desperation

>> No.17559838

>>17558730
>>17559661
Anons ok, i get it, but i'm not talking about having a 90% winning strategy, it's just to pass that 50%, that's the dim strategy.

>> No.17559977

>>17558473
https://www.youtube.com/channel/UCGwIt1ysvM8Rn1sgjUoYfEA

Watch this guy's stuff. Literally the only forex trader I've seen on youtube that actually knows what he's talking about or isn't trying to scam you. Learn to stop trying to snipe the market at the perfect price and instead layer out lots of small limit orders. Buy low and sell high. Do not follow moving averages or any kind of trend strategies. They do not work in the long run.

>> No.17560060

>>17559838
this is how i do it.. take a time off uni.. pick one pair, literally just watch chart and listen to music all day for 2 weeks.. look at every time frames.. develop your own hypothesis on the market, jot it down on paper.. now develop your own strategies based on that hypothesis

>> No.17560101

>>17559661
good words. I will add this: since its impossible to be right all the time, make up for it by diversifying by having multiple long short strats. small but many positions.
also sometimes when I talk to people about algo trading they are like. - So anon your algo predicts the market? how does it do that?
no it doesnt. it only reacts. its impossible to extrapolate the market. that is the error a lot of traders who try the DSP approach using digital signal processing techniques to approximate but its not a radio signal. you just cant generate stuff and fill in the blanks with it and be right like in DSP.

>> No.17560109

>>17559977
simple ton is good stuff... he is funny too

>> No.17560131

the longer your time horizon the better chance you have at beating bots

>> No.17560244

>>17560131
you beat bots and fees at the same time and TA makes much more sense. long timeframe is the way to go if you want to stay sane and have fun.

>> No.17560368

>>17559838
Don't buy when everyone is shilling an asset and the asset had already pumped significantly in a short time. That alone would help cut you down on major losses. Buying on slow uptrends is your safest bet and it's easy to spot these on a chart.

>> No.17560378

I don't trade at frames =<4, i tried but it's excruciating, it forces you to stay all day checking charts

>> No.17560407

>>17558614
What do you actually trade usually?

>> No.17560458

how's Forex different from stocks? obviously that you trade currencies and stocks in each one but are the strategies different?

>> No.17560548

>>17560458
Forex is always on, except 1hr pause during the week and weekends, stock market is open just for a part of the day, this is one of the many differencies.

>> No.17560571

>>17560548
yeah, but are they different in nature? forex is not as predictable as stocks right?

>> No.17560610

>>17558473
Start small with like a hundred bucks & figure out a strategy that works for you.

Alternatively, pretend you have 10k, write down your "trades" on some paper & see if you profit. If not, readjust.

>> No.17560629

>>17560610
is there a non-bullshit program to do that? writing it on paper is not very practical.

>> No.17560689

>>17560629
You know what, just stay poor you dumb nigger. When I've made my billions I'll gladly sell you a prepackaged program that guarantees a safe 1% rate of return /yr.

>> No.17560726

i just tried one of my crypto strats on USDJPY on Oanda (with volume). Never thought it would work but it actually does a little bit. (more than 50 percent correct). Can officially tell you that a crypto strat can work on a forex pair. feelsgoodman.png. Keep at it. hard work pays for itself. There is no innate knowledge. You have to get it all by yourself or by learning from other successful traders. Everything else is luck.

>> No.17560753

>>17560629
Don't listen to that dumbass. Find a broker, open a practice account, download metatrader 4, and trade with fake money until you feel comfortable with your trading plan.

>> No.17560808

>>17560753
Anon, I...

>> No.17560822

>>17560726
i take it back. just went further back (until 2010) and it tanks down to around 43 percent correct. still make me want to adapt it just for fun.

>> No.17561180

>>17558473
just day trade until you get hired at VP level or above

>> No.17561798

>>17560571
Yes, they behave in a different way, for example FA impacts much more on stocks than on forex, for obvious reasons.

>>17560610
So far i'm paper trading on past charts and using demo accounts

>> No.17561867

>>17560822
43% is less than throwing a dim.

>>17561180
VP seems to be an ass, at least in simple ton opinion.
I'm sure that he knows what he does, but he just brags too much on his yt

>> No.17561958

>>17558473
apparently there's a legit guide on a DNM about a forex strategy, everyone that's left a review says it works. costs like $1000 though, and he's sold probably hundreds. curious to know what's in there that everyone else doesn't know, or if there's a leaked file out there

>> No.17562024

>I'm studying hard to find some good strategies for forex and trading in general.

good luck, it took me more then a decade to figure it out. most of that time was spent going trough the colossal pile of garbage that you find on interweb.

Save yourself allot of time, you won't find anything of value for free and if the garbage salesmen (scammers) were trying to sell you worked they wouldn't be selling it in the first place

>> No.17562126

>>17562024
>nothing free
>nothing paid
So there's no way?
I don't want a complete strategy to apply like a bot tough, i want to get a good vision, or improve mine, and avoid rookie mistakes.

>> No.17562276

>>17561867
i know but if you can extract patterns from your returns or losses you can still come out in profit if you manage position size based on said patterns as long as they are not completely random.

>> No.17562481

>>17562126
Trader is probably the only job in the world that nobody will teach.

Because your gain is others loss and vice versa. Its you vs everybody else.

In this game game, the one who tell don't know and the one who know don't tell.

>> No.17562584

Trick is to be smarter than everyone else

>> No.17562636

>>17562276
This is an inspiring view, but i'm not sure that a winning rate lower than 50% can bring you to a profit in the long time.

>>17562481
Market is wide, you know.
I agree on "common strategies" being all bullshit tough.

>> No.17562823

>>17562636
yes. that is often the problem. and that non-randomness is pretty cool but difficult to find. there would have to exist streaks long enough either losses or wins for this to be possible to exploit.

>> No.17562855

>>17562823
anything lower than 55 % I never use though. its mostly for experimenting with a few ideas.