How to find forex grail?
Good day, ladies and gentlemen, Forex traders. Everyone who is interested in trading in the foreign exchange market has at least once heard the expression “Holy Grail”.
What is this Grail in relation to forex trading? The grail is a strategy that has impeccable performance and brings millions to those initiates who recognize it. “Find the Grail” means to come up with / find such an “ideal” trading system.
Is there a Grail and How to find it? What traps await inexperienced hunters? We will talk about this and much more at a special webinar.
Short webinar program
- Is there a forex grail?
- How to use the strategies available on the network? (they don’t talk about it)
- What is the Dark side of trading and how not to switch to it?
- What trading methods work best and why?
- 3 trading paradoxes you need to know
- How to find the same "Holy Grail"
Watch the webinar on record
Shortened text version
Let's start with what is generally called trading in trading in general. This term means a certain strategy that always brings 100% of profitable transactions - that is, an ideal and error-free system. Naturally, as something magical and incredible, the strategy should be hidden from the public. The Grail that everyone knows is not the Grail.
In fact, the Grail is a strategy that is right for you. Moreover, it may not be statistically the most effective, but it is your strategy that will work well. Today we’ll talk about how you can find that very strategy and use it in your work.
Why are techniques like PA, VSA, etc. popular?
Surely many paid attention to the popularity of Price Action, VSA, Gunn, Sniper ... but what is their popularity? The fact is that all these methods do not have clear rules, only general principles are given there, and then it all depends on the interpretation of individual traders. That is, people are given some freedom, allowing them to modify the rules for their vision and understanding of the market.
Advisors and manual vehicles
It’s a completely standard situation: the forum discusses a trading strategy, people share their experience, and then a certain programmer comes in and an offer to write an adviser comes in. Almost always, a born development brings only drain. Although, it would seem, prior to writing the robot, the strategy worked and was profitable. It’s the same when the adviser in the tester shows millions and billions, but on real accounts it merges.
The problem here is the lack of perception of the artist (developer). In life and in trading, some questions do not need to be answered with the answer “Why does it work like this?”, Or “How to do it, what would be better?” - something needs to be accepted as is. In other words - no need to re-optimize, try to create the perfect adviser - while something works, you need to use it. Everything in life is inconsistent, so over time, something may stop working and this is quite normal.
How to work with strategies from the network?
Usually, if someone puts out a strategy, forum users immediately rush to test it. Having received a not very beautiful result, people are disappointed and forget about the vehicle for good. In fact, in the strategy you need to look at what attracts your attention. If you take at least one idea / moment from the strategy, then this already has value. It is much more important than finding a ready-made working strategy, having your own development, assembled in pieces. Nobody asks you to invent it - everything has been invented for a long time.
However, if you find a ready-made strategy that you like, it is very important to make at least some change. Up to changing the period of the moving average or its type. Customization is very important, as emotional comfort is very important for us.
Three paradoxes of trading
1st paradox - the more money you need, the more likely you are to not earn it or even lose it. You begin to look for opportunities where they do not and cannot exist. Therefore, the old rule works here: we come to the market only with what we can lose.
2nd paradox - the more mistakes you make, the more likely you are to succeed. The master was mistaken more than the beginner had ever tried.
3rd paradox - the more you are confident that you are right, the more likely you are to make a mistake. Therefore, one must always allow some doubt, not drowning out the critical point of view.
One of the main mistakes when testing a vehicle
People think that a strategy should always work perfectly: in all years, on all timeframes and instruments. In fact, principles that work in long-term positions are not suitable for trading on short timeframes, and vice versa.
Sometimes dramatic changes occur, such as the crisis of 2008 or the unlinking of the Swiss franc from the euro - all this can significantly affect the work of strategies, models: some stop working, others, on the contrary, show their potential. Therefore, when testing a vehicle for history, it is not necessary that it works perfectly anytime, anywhere.
The dark side of trading
The dark side, first of all, inside you:
- attachment to a position;
- excessive confidence;
Intuition is partly related to the dark side, or rather, its incorrect interpretation. Indeed, in fact, intuition is the knowledge and experience accumulated by you.
An important point that many in trading and in life neglect is the issue of giving back to the world, namely: helping others, topics on forums, charity, lack of desire to take everything for yourself. In life you need to give 10 times more than you take, and then you will begin to come. It is not necessary to give money, you can give help, advice. Even helping with the answer to a simple question, you will notice how things will go better for you.
Three levels of trading
First level - this is when you just start earning something. To do this, in fact, it’s enough just not to be dumb, not to fool around and not to be “the smartest”.
Second level - you need to be more attentive and increase volumes.
Third level - you need to remove all your shoals in both psychology and strategy, keep a transaction log - everything that is advised standardly on the Internet.
Many people get stuck even lower than the first level, because they try to immediately go to the third: try to be perfect, try to break themselves. Perfectionism is often to blame for this. Why, for example, does everything work out well on a demo? Because there is no impact of psychology, there you do not stupid and do not think too much.
There is such a rule (Paretto principle): do everything at 80%, since you will do the remaining 20% for a very long time and very hard. For example, if the strategy, in your opinion, is 80% perfect, this is enough. No need to strive to bring it to perfection.
Try to always create something of your own. Even if it is borrowing other people's ideas, you will feel more comfortable trading by your own rules. You should not always strive for the ideal, if something works - you need to use it. Do not give in to the dark side and try to give, even if it is just help to newcomers to the forum.