Originally Posted by elektrance
Well, mp, quite arrogant of you to state your ideias as if they were dogmas. For me most of them dont really make any sense.
I use 2 EAs which work in paralell with my manual trading.
cant deny it, I am arrogant --- comes from years of trading and teaching a number of traders who are now successful themselves and then seeing people on these sites who figure they can "make it" without doing anything ! Its the arrogance of the educated and experienced, and i take it as a delicious compliment !
To address your usage of the word "dogma", allow that even I am aware there are many ways to skin a cat, but Im not putting forth my "sysetm" or methods of trading, but a trend that is growing daily in popularity (no stop losses). Im getting emails from newbs who try it, using EA's or not, AND they are taking profits for the first time, because they LOST NOTHING to the drawdowns (which destroys so many accounts !)
I didnt invent it, build it or clean its bottom when it was a baby --- i just happen to notice that its a radical change from what was held to be ABSOLUTE truth or as another poster stated, "the eleventh commandment".
If youre not willing to look and possibly learn something new, youve already ceased your education, and thats kinda pathetic !
They both have stop losses.
I have no idea of what your systems are, how you take profits and whether you set your stop losses at a realistic point or not, but I will still bet large amounts that MOST ea's lose money because stop losses are hit, that would become profit just a bit more down the road if simply left alone--- OTHERWISE I WOULDNT BE READING IT ON THIS, AND OTHER SITES so often !
Last year they profited 400%.
DECENT, but i once did that in 4 days with the run up on USD/CAD a few months ago, a currency im still trading manually ! (i will have to admit I got lucky -- i was practicing a new theory with another trader --- we hedged 50 lots each way on a hunch and got VERY lucky !)
They were both coded by me in MQL and they are not for sale or in open source mode. Sorry about that.
thnx, dont need them at all since we seem to both do decently, only distinct difference being i just look at the chart and you use robots !
But your ideas about stop losses... Not for me.
allow me this if nothing else ---- do a demo, even if in your mind, and while i certainly dont know how you trade, SEE what would happen without a stop loss and WITH good money management and trading with the trend, and you can pick which one of the 3 main trends to use !
Even you might possibly learn something new and that is supplanting the old "set your stop" routines, which many others are now finding works !
Anyway, hope you manage.
after 36 years of trading, I'll probably manage --- thank you !
BTW, IF A NEWB TOOK THAT 4500 EUROS, CONTACTED A PROFESSIONAL TRADER AT ONE OF THE BANKS OR INSTITUTIONS, THEY WOULD RECEIVE ONE HECK OF AN EDUCATION !
And
Good luck.
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