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Old 27-08-2009, 17:35
Henry Henry is offline
Level III Lasers Member
 
Join Date: Mar 2009
Location: Pretoria South Africa
Posts: 68
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Quote:
Originally Posted by AshFX View Post
The thing is, the system only works if you apply reasoning behind each trade setup. One can't just blindly enter every trade the system produces. This is why I don't believe in EAs. Rather, you have to look at price action, support and resistance, fibonacci, fundamentals. Indicators on their own won't make you millions, in fact they'll make you pretty much jack all. Plus as others have mentioned, the system is only part of it, many traders just can't hack forex because they don't have the temperament, losing out to factors such as hope, fear, greed, etc...
I agree with you Ash. Let's suppose you have a genie that gives you the trades with 100% accuracy. Will you still make it in Forex? How about 90% or 70%?

Quote:
Originally Posted by AshFX View Post
I'm not sure how long you've been a member, but if you go back through the forum you'll see there were some horrible trades that were taken by me and others. Bad months will and do occur.
Bad months (losses) is a cost of doing business. They will happen, but can your trading balance handle it? Can you handle it psychologically?

Last edited by Henry; 27-08-2009 at 17:38.
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