In those cases start simple and just have a look at the chart and get a feeling for how the indicator behaves at different levels. In my country it is zar. This can be random and is pushing us right into the direction we do not want to go. I have not had any success with NNs in the past and I have also used genetic programming but results suffer from curve-fitting. This is of course if I understood correctly what you are doing.
Nov 01, · I have such system, backtested over trades to 90% and can trade in any market condition, but there is a big flaw with it, the sl is many times larger than the tp.
Ask any trader who makes money on a consistent basis and they will tell you, "You have two choices: You can either methodically follow a written plan, or fail. If you have a written trading or investment plan, congratulations!
You are in the minority. While it is still no absolute guarantee of success, you have eliminated one major roadblock. If your plan uses flawed techniques or lacks preparation, your success won't come immediately, but at least you are in a position to chart and modify your course.
By documenting the process, you learn what works and how to avoid repeating costly mistakes. Trading is a business, so you have to treat it as such if you want to succeed.
Reading some books, buying a charting program, opening a brokerage account and starting to trade is not a business plan - it is a recipe for disaster. Once a trader knows where the market has the potential to pause or reverse, they must then determine which one it will be and act accordingly.
A plan should be written in stone while you are trading, but subject to re-evaluation once the market has closed. It changes with market conditions and adjusts as the trader's skill level improves. Each trader should write their own plan, taking into account personal trading styles and goals.
Using someone else's plan does not reflect your trading characteristics. What are the components of a good trading plan? Here are 10 essentials that every plan should include:. Are you ready to trade?
Have you tested your system by paper trading it, and do you have confidence that it works? Can you follow your signals without hesitation? Trading in the markets is a battle of give and take. The real pros are prepared and they take their profits from the rest of the crowd who, lacking a plan, give their money away through costly mistakes.
How do you feel? Did you get a good night's sleep? Do you feel up to the challenge ahead? This is guaranteed to happen if you are angry, preoccupied or otherwise distracted from the task at hand. Many traders have a market mantra they repeat before the day begins to get them ready. Create one that puts you in the trading zone.
Additionally, your trading area should be free of distractions. Remember, this is a business, and distractions can be costly. How much of your portfolio should you risk on any one trade? This will depend on your trading style and risk tolerance. That means if you lose that amount at any point in the day, you get out and stay out. It's better to keep powder dry to fight another day if things aren't going your way. Many traders will not take a trade unless the potential profit is at least three times greater than the risk.
Set weekly, monthly and annual profit goals in dollars or as a percentage of your portfolio, and re-assess them regularly. For more, see " Calculating Risk and Reward. Before the market opens, check what is going on around the world? Are overseas markets up or down? Index futures are a good way of gauging market mood before the market opens.
What economic or earnings data is due out and when? For most traders, it is better to wait until the report is released than take unnecessary risk. Pros trade based on probabilities. Whatever trading system and program you use, label major and minor support and resistance levels, set alerts for entry and exit signals and make sure all signals can be easily seen or detected with a clear visual or auditory signal.
Many traders cannot sell if they are down because they don't want to take a loss. Get over it or you will not make it as a trader. If your stop gets hit, it means you were wrong. Don't take it personally. Professional traders lose more trades than they win, but by managing money and limiting losses, they still end up making profits. Ramdass converted it from MT3. I am not sure but I think that imran just re-named it only why people are renaming the other people's property?
And it is indicator which I am using: By the way, asctrend indicators were not created for scalping: Mainly for D1 and W1. I made some other systems for M, M5 and so on but you can see - I did not use any asctrend indicators sometimes. We are having new asctrend now: Igorad created labtrend indicators many months ago and improved it many times it is in elite section.
Besides you can read Igorad's review critisizing asctrend system in general and asctrend indicators in particular. It is famous well-known review evaluation posted on almost all forex forums as final conclusion about asctrend. It was posted on this thread as well. So, after this review Igorad made his labtrend and I designed many asctrend systems. ASCTrend system - page To add comments, please log in or register. This is some part of Asctrend M5 from elite section.
Why from elite section?
These are trading because you do not think system are going to work but they actually work. Effective it simple strategy is such a strategy that makes forex minimum use of the Forex resources and forex it provides the most useful information of the market. Discussion board about forex trading, trading systems, expert advisors, indicators, forex brokers, economy, fundamentals, mql programming, trading platforms, trading. Feb 09, · Hello all, I'm just curious to see if anyone who has a trading system that can attain a 90% win rate, using only trades open at any one given time.