Thanks for dropping by my forex blog ! I have studied technical analysis of Forex Markets for a number of years now; and have come to the realisation that i may as well be flipping a coin (or burgers)
I have coded and backtested numerous automated TA trading systems (MT4) with negative results. Although, I have doubled forex demo accounts in one week using pivot points and also trendline analysis, only to give it all back in half the time. I cannot seem to achieve any consistancy with TA.
Dare i say that TA does in fact work... Thats if the definition of "working" is to blow up your account. Although TA must be a gift from the gods for bucket shops who push it with their "TA 101 Resources and Education" and hundreds of lagging indicators included in their trading platforms ... So i am quite happy with TA, as it probably goes towards ensuring there is fresh supply of new losers entering the market every day.
No doubt i will get flamed for this at some point, i dont care, thats my stance :)
My focus has turned to Order Management, Risk/Reward and Position Sizing; using Grid Trading techniques. According to many forums and blog posts "The Grid Trade has been done to death"
- However i am not sure that i can agree with this is as i have been working on the ongoing development of an MT4 Expert Advisor - i have called it GridTraderPro (©2011 Nigel Martin) Through out back tests i have observed a smooth equity curve producing 20x the initial account deposit in just 2 months. $1m become $20m .. Now these are the kind of profits i had been looking for.
I will be publishing a number of Grid Trading articles and MT4 Scripts that maybe useful to others in their trading.
Good Trading
Nigel
HIGH RISK WARNING & DISCLAIMER: Forex trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment;
All the information in Nigel-Forex Blog website is for educational purposes only and is not intended to provide financial advise. Any statements about profit or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit and loss; and you agree, not to hold Nigel Forex, its owners and operators responsible for your actions.
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp diferences between hypothetical performance results and the actual results subsequently achieved by any trading program. Hypothetical trading does not involve any financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
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