Many times I see people posting something like this:
"My system is as follows: Enter when 5 EMA and 20 EMA cross 50 EMA. Exit when 5 EMA cross 20 EMA."
Then they proceed to post a successul trade plus profit with a chart attached (see attached photo)
When I see this, I immediately know why 90% of newbie traders fail. They kid themselves. They break their own rules to squeeze out the largest amount of profit possible with an entry. They "establish" new rules in hindsight based on one trade and when a newly established rule fails in the very next trade it will be abandoned and newer rules will be introduced. A vicious circle continues. A search for the Holy Grail continues.
But the true Holy Grail already exists. It's between our ears.
"My system is as follows: Enter when 5 EMA and 20 EMA cross 50 EMA. Exit when 5 EMA cross 20 EMA."
Then they proceed to post a successul trade plus profit with a chart attached (see attached photo)
When I see this, I immediately know why 90% of newbie traders fail. They kid themselves. They break their own rules to squeeze out the largest amount of profit possible with an entry. They "establish" new rules in hindsight based on one trade and when a newly established rule fails in the very next trade it will be abandoned and newer rules will be introduced. A vicious circle continues. A search for the Holy Grail continues.
But the true Holy Grail already exists. It's between our ears.
Attached Image