Hello All,
I'd like to share my trading experience with you. There might be something for somebody out there that he/she will find it useful.
Let me begin by a brief description. I started trading Forex in January 2006 and just like any other newbie I lost a substantial amount to learn that I needed to know more.
I eventually got a certificate in Technical Analysis and also learned about MetaTrader and programming MT4. I'm an engineer so it is not very difficult for me to write programming codes. Anyway, I also decided to get a mentor. He is a great guy and opened a window to the world of Forex to me .
I eventually found out that emotion is a great barrier to trading successfully. Since I've not managed to overcome my emotions yet and on the other hand I have a full time job, I decided to focus on mechanical trading. I developed an Expert Advisor for MT4. The EA is a quasi-breakout system and shows long term success on several pairs. Among them USDJPY, EURUSD, GBPUSD, USDCHF, and AUDUSD are the best.
Here is a thread that discusses the behaviour of the system for USDCHF:
http://www.forexfactory.com/forexfor...ead.php?t=8692
After backtesting the system I found out that in short term it may generate loss. Then I decided to diversify my trades among all 5 successful pairs. This will mitigate short-term losses (hopefully) while keeping the chance to make money over a long period of time (6 months or more). Here is a thread that I discuss this issue there:
http://www.forexfactory.com/forexfor...ead.php?t=8334
After backtesting the system. I tested it for about 3 weeks on a demo account. It worked very well. I then started trading live last week (starting Oct 16, 2006). So far so good. In the first week I lost about 19 dollars but then on the 6th day of trading everything turned around. I'm now over $600 up.
Anyway, I will post more information about this system shortly. I will also post charts and tables about the behaviour of my portfolio on a weekly basis. You'll have the chance to discuss around what happens to my portfolio and we can share ideas. This will hopefully help me to improve my system and you to enter the live trading world successfully.
Have fun,
Al
I'd like to share my trading experience with you. There might be something for somebody out there that he/she will find it useful.
Let me begin by a brief description. I started trading Forex in January 2006 and just like any other newbie I lost a substantial amount to learn that I needed to know more.
I eventually got a certificate in Technical Analysis and also learned about MetaTrader and programming MT4. I'm an engineer so it is not very difficult for me to write programming codes. Anyway, I also decided to get a mentor. He is a great guy and opened a window to the world of Forex to me .
I eventually found out that emotion is a great barrier to trading successfully. Since I've not managed to overcome my emotions yet and on the other hand I have a full time job, I decided to focus on mechanical trading. I developed an Expert Advisor for MT4. The EA is a quasi-breakout system and shows long term success on several pairs. Among them USDJPY, EURUSD, GBPUSD, USDCHF, and AUDUSD are the best.
Here is a thread that discusses the behaviour of the system for USDCHF:
http://www.forexfactory.com/forexfor...ead.php?t=8692
After backtesting the system I found out that in short term it may generate loss. Then I decided to diversify my trades among all 5 successful pairs. This will mitigate short-term losses (hopefully) while keeping the chance to make money over a long period of time (6 months or more). Here is a thread that I discuss this issue there:
http://www.forexfactory.com/forexfor...ead.php?t=8334
After backtesting the system. I tested it for about 3 weeks on a demo account. It worked very well. I then started trading live last week (starting Oct 16, 2006). So far so good. In the first week I lost about 19 dollars but then on the 6th day of trading everything turned around. I'm now over $600 up.
Anyway, I will post more information about this system shortly. I will also post charts and tables about the behaviour of my portfolio on a weekly basis. You'll have the chance to discuss around what happens to my portfolio and we can share ideas. This will hopefully help me to improve my system and you to enter the live trading world successfully.
Have fun,
Al