Give me a system

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lewis91
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Give me a system

Postby lewis91 » Sun Sep 06, 2009 6:55 pm

Hi guys. Im new here. My names lewis, im 18, from the UK and about to study maths and economics at LSE. Ive been studying the market for over a year id say (books,blogs,forums etc) focising on developing systems in excel and trading options as i recon theyd suit my personality but ive came to the realisation that i might be complicating things and that i havnt even found an edge after all this time. Been looking at price action for the first time the last few days and found this forum.
I have about $6000 savings so the faster i can start to compound this the better.
Was hoping someone could point me in the right direction. I just looking for any profitable system. I feel that after having an edge (ill work out risk management myself) and papertrading for a month or so and seeing results will sort out everything out for me.
Thanks

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jacal1
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Postby jacal1 » Mon Sep 07, 2009 4:16 am

Lewis91. great to know you have savings at your age great to see young man thinking and making the right steps to free himself of the shackles at a young age.

As for "giving you a system" it still shows me you have alot of reading to do one system may work for someone may not work for another as personality and experience plays a big part on how disciplined your trades will be.

you have not yet opened a demo account I encourage you to do so

keep reading here at kreslik unbiased and untainted by the corporate beast everyone able to express themselves without coming away with learning something either about themselves or their trading discipline.

As for myself the system I use DTB V8 i have found success with this as it fits my discipline on reversal and also effective with breakouts but I'm only starting to learn to use this for breakouts as I have always been reversal trader.

Lewis91, use some of your money, find success in a demo account once you have done so open a small live account keep in mind you only 2%/day to find astronomical growth in a year. so don't rush, from what i see you are on the right path just be patient and disciplined and success will surely follow.

DTB!!
The fear of Jehovah is the beginning of knowledge, wisdom and discipline...Prov 1:7

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Patch
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Postby Patch » Mon Sep 07, 2009 12:48 pm

lewis91

Welcome to Kreslik, my favorite trading site on the web.

When I returned to kreslik a few months ago, I began by reading the new posts several times a day to see who was doing what. Read several of the briefer threads, maybe buyzone, simple system, ninja platform, drain the banks. Cut and paste posts that catch your attention into a word or excel file with date time references.

You want to prioritize your time and effort, but not rush into trading for pounds or dollars. Another excellent thread is Never Lose Again. It has a few more pages, but read it carefully and more than once.

When you have a question, do a search on the term or indicator first. Fore instance, this morning I saw a post by jacal1 about an indi, bz_everyhour_g I'd read about, but never seen named or posted before, so I did a search and came up with several hits for it.

This effort you are embarking on is kinda like going to medical school, so it will require time, effort, study and most of all commitment and perseverance on your part. You don't just start out trading and in a week be earning 1000 pounds a week. In NLA MO has a post where he talks about his recommendations of how you should begin trading.

After doing your homework and searches, ask lots of questions,

We are all here to help each other,

Patch
In VA
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

lewis91
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Postby lewis91 » Mon Sep 07, 2009 2:13 pm

jacal1 wrote:Lewis91. great to know you have savings at your age great to see young man thinking and making the right steps to free himself of the shackles at a young age.


Thanks. Yes it seems that there arnt so many people my age interested in trading/money. Most people i was at school with are told to go down the medicine and law route which i considered for a while, but I guess im really just looking for be best way to increase my wealth and freedom. Was hoping i might find a few more like minded people when i go to uni in London.

jacal1 wrote:As for "giving you a system" it still shows me you have alot of reading to do one system may work for someone may not work for another as personality and experience plays a big part on how disciplined your trades will be.

you have not yet opened a demo account I encourage you to do so

Agreed. I was looking at EOD systems as i would like the fact hat it would leave me a lot of free time, however i am still working on esting ideas on excel. i think ill try day trading while continuing to develop longer term ideas and maybe make the switch if ive discovered a succesful system. Been spending to much time reading and not enough time getting valuable market experience. need to get some ASAP.

jacal1 wrote:Lewis91, use some of your money, find success in a demo account once you have done so open a small live account keep in mind you only 2%/day to find astronomical growth in a year. so don't rush, from what i see you are on the right path just be patient and disciplined and success will surely follow.

Thanks. Thats the plan i have in mind. Id be more than satisfied if i could achieve 2%/day :shock: do you feel this is a realistic goal?

jacal1 wrote:Another excellent thread is Never Lose Again. It has a few more pages, but read it carefully and more than once.


Thanks patch, i had a quick scan through the baby pips NLA thread but got a bit lost. Ill take some time to go over it again and look at he NLA thread here more carefully.

Thanks again guys for your replies

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TheRumpledOne
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Postby TheRumpledOne » Mon Sep 07, 2009 3:24 pm

Learn how to DRAIN THE BANKS!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby jhtumblin » Mon Sep 07, 2009 5:00 pm

Lewis welcome to the forum and to reality. I love to see new traders with fire in their eyes but allow me to help keep you grounded. Keep your money in the bank until you can consistently return profit that meets your expectations on a demo account. When you achieve that, open a small live account ~$500 and trade it until you make 200%. Remember that % growth is the same no matter how much you fund your account with.

It would be terrible for you to blow your savings at this point. I hope for your sake that you are a prodigy and make a million in 6 months but the truth of the matter is that you will have to pay tuition first, and that means blowing up your account until you learn how to trade. Everybody does it, but keep your head up and your expectations real, eventually you will get ahead.

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Postby jamesworden » Wed Sep 09, 2009 8:08 am

Hello Lewis,
great to see you coming on. Like myself just starting using this trading forum it can be a bit overwhelming... but we will get through it.

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Postby owokudi » Sun Sep 13, 2009 2:10 am

Is there any one who can program FX5 MACD Divergence, Parabolic SAR and Trend Alert together as a EA. I have studied this three for a long time and the result is wonderful. I uses Alpari

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Patch
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Postby Patch » Sun Sep 13, 2009 2:28 am

owokudi

Welcome to Kreslik.

When you say you have been studying the several indis you mention, do you have an MT4 EA written and working? Could you also post a few charts showing the results you mention?

Thanks

Patch
The Tea Drinking Pirate
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ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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