Rank: Newbie
Groups: Registered, Registered Users Joined: 2/1/2011(UTC) Posts: 2 Location: Sydney
|
Hi Guys,
I'm a new MS11 user and trying to come to grips with it. I've been unsucessfully trading FX with The Lifestyle Trader system over the last 18 months. I can no longer tolerate the drawdown it seems to produce.
I decided to evaluate MSpro11 over the next 3 months or more depending on whether or not it can generate some positive equity.
I have gone over the various getting started tutorials but from what I can see nothing really to help me specifically with putting together a forex strategy using the system with the various expert advisors.
Can anyone help me in selecting a few ones to try and eval the system with my demo fx account? Are the USD/EUR trading systems good enough to get an idea if it's worth continuing my subscription?
I ask this as Metatrader 4 seems to have much better out of the box and web support along with many expert systems to test already?
Anyway I'm impressed but overloaded with the capability of MS so would love it if someone could help me get charting and making some sim trades?
Thanks
Mark
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users Joined: 10/28/2004(UTC) Posts: 3,111 Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
|
MarkB wrote:Hi Guys,
I'm a new MS11 user and trying to come to grips with it. I've been unsucessfully trading FX with The Lifestyle Trader system over the last 18 months. I can no longer tolerate the drawdown it seems to produce Gee, I am surprised you lasted that long! That system and its spruikers don't seem to have a very good reputation (according to the thousands of posts on the internet forums I have seen slagging off at the system and the company!) MarkB wrote:I decided to evaluate MSpro11 over the next 3 months or more depending on whether or not it can generate some positive equity. Software, for the most part, doesn't generate trading success; the user generates success. I know some AWESOME traders who still use a newspaper and hand-drawn graphs. Software is a tool; the real knowledge and ability is in the user. MarkB wrote:I have gone over the various getting started tutorials but from what I can see nothing really to help me specifically with putting together a forex strategy using the system with the various expert advisors.
Can anyone help me in selecting a few ones to try and eval the system with my demo fx account? I have a strong belief that trading systems are very personal things; I have tried trading a few systems offered by other people and they haven't worked for me. Everyone has their own thresholds for pains and gain, so many times simply opening a box and applying the trading system doesn't work for everyone (as you have seen with your previous fx experiences). Have a look at the trading systems offered in MS and see what they are trying to do and how they attempt to do this; apply your personalisations to meet your risk profile and trading goals. (I don't mean run a curve fitting optimisation either! Do the work properly and it will reap rewards.) Putting together any trading system is simple (and yet exceptionally difficult). Define your entry, manage your risk, manage your trade, exit. Simple? Software can help, but computers will only do what they are programmed to do and cannot make assumptions or interpretations. "[censored]in begets [censored]out." MarkB wrote:Are the USD/EUR trading systems good enough to get an idea if it's worth continuing my subscription?
I ask this as Metatrader 4 seems to have much better out of the box and web support along with many expert systems to test already?
Anyway I'm impressed but overloaded with the capability of MS so would love it if someone could help me get charting and making some sim trades? MetaSTOCK is a charting package with no trading functionality; MetaTRADER is a trading package which has some charting functionality. They are different beasts. If you're an EOD trader placing trades by phone then wont really matter which software you use. If you're at the bleeding edge and you need exceptionally rapid order placement then you'll need a trading application more than the charting application. On another note: why only use one application? "If the only tool you own is a hammer, then eventually everything looks like a nail." wabbit [:D]
|
|
|
|
Rank: Newbie
Groups: Registered, Registered Users Joined: 2/1/2011(UTC) Posts: 2 Location: Sydney
|
Thanks for the reply it cleared up a few things for me right away.
On ARLT
Well there is only so much "trust the signals" without any hit of positive equity than you can stand :-) Guess I'm a bit thicker than most and unfortunately the people in charge prey on emotional triggers to make you think that it's your "fault" even if you trade every signal and every pair that you aint' making money. ENUFF SAID!
MS Stuff
Despite having spent a bit of time live trading I really know nothing when it comes down to it and what you said down the bottom is what I want to do..IMO the cause of my failure is that I am lacking the basics and need to go over some useful technical analysis indicators, try,back test and get and idea of what works in what situations.
Take an existing strategy, chart it, evolve it and see if I can actually learn something and make some money is what I want to do..may have a technical issue now as I have found that most the the expert advisor systems don't generate any buy signals on any fx pair? (support call raised)
It's taken about 5 days to just get my head around it and I work in Virtualisation SAN technologies for my day job - now I wished I did more programming :-)
Now I get the diff with MT4 and why there are so many downloadable expert advisors since it's emphasis is on trading not charting but at my level of usage they look to have the same functionality if that makes sense?
|
|
|
|
Users browsing this topic |
Guest (Hidden)
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.