I have been trying to trade forex for the past 3 years and have tried well over 100 systems. Since I'm also a developer, I have programmed many of these into EAs for the purpose of backtesting. Thus far, every single mechanical system I have tried has failed to be profitable. I have also tried a variety of manual system that have clear rules but are hard to program into an EA (like the absurdly overpriced T3 system) and all of those failed too.
I now suspect that there is no such thing as a forex trading system that has mechanical rules that is profitable if you follow those rules strictly. The very few profitable forex traders I have interacted with seem to be profitable only because they have some 6th sense as to which trades to take and which not to take. When asked to explain their decision making process, they are unable to do so - any extra rules they give as to why they take or don't take a trade don't hold up when looking at past trades.
So is it really the case that in order to succeed in forex trading, one must somehow train your subconscious to get in tune with the market in some sense? Is it really not possible to develop a trading strategy of fixed rules that is consistently profitable? What do you guys think?
This forum contains hundreds upon hundreds of threads regarding just about every forex strategy available. Usually someone shares a system, then people dig into it, and after some posts for a few months people have little to no success with it and the thread is abandoned. I cannot find a single thread on this forum where people are having consistent success with any method.
Comments?
I now suspect that there is no such thing as a forex trading system that has mechanical rules that is profitable if you follow those rules strictly. The very few profitable forex traders I have interacted with seem to be profitable only because they have some 6th sense as to which trades to take and which not to take. When asked to explain their decision making process, they are unable to do so - any extra rules they give as to why they take or don't take a trade don't hold up when looking at past trades.
So is it really the case that in order to succeed in forex trading, one must somehow train your subconscious to get in tune with the market in some sense? Is it really not possible to develop a trading strategy of fixed rules that is consistently profitable? What do you guys think?
This forum contains hundreds upon hundreds of threads regarding just about every forex strategy available. Usually someone shares a system, then people dig into it, and after some posts for a few months people have little to no success with it and the thread is abandoned. I cannot find a single thread on this forum where people are having consistent success with any method.
Comments?