--------------------------------------------------------------------------------

Hi All,

I'm a newbie to this forum.

I've been studying for the past 5 years and trading the last 2.
I trade forex and have only recently changed from MT4 to Tradestation.
I have pruchased alot of Crap trading systems in the past and blown up hundreds of demo accounts.
I like most of you have blown up a live account or two as well.

Like most of the old dogs around this forum.
My advice to Newbie Traders is:

1) Don't fight the market.
2) Don't go against the trend.
3) Stand back to see the big picture. (Use higher timeframes "imagine learning to walk looking through binoculars")
4) Let your winner run and cut your losses early.
5) Never ever trade without a stoploss.

6) If you had the "Holly Grail" trading system, why would I give it away for $99-400,
to thousands of people.
If we all had access to the grail, In a perfect world we would all be Billionaires,
and there would be No Disease nor Poverty.
7) Don't buy repackaged or High Hyped Systems with marketing teams flogging over optomized
algorithems.

8) The only way to find a system that works, is to work with what works for you.
Look at the market and see what it is telling you.
Then apply different indicator that tell you the same thing.
Make your own rules and stick to them.
Let it evolve.

9) Belief/Trust in what your indicators are telling you, is the key to a successfull system.
10) Knowledge is power, Take free trading courses offered by forums and educate yourself about the
markets,effects of outside influences on the markets, learn how indicators work and what they are telling
you.

The first system I made used no indicators at all.

I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success.

Try it yourself it doesn't matter what pair.
It works.


Currently My strategy is a low to medium time frame trending strategy and I am constantly in the market.


"May the pips be forth coming,
the drawdowns low and infrequent,
In your trading for 2013."
TIDY8

Hi,
Thanks for that great advice. I am new to trading and would like to understand in a little more in detail how your following trading setup works:

"I would simply open a currency chart in 5min and look at the opening market.
I'd draw two trend lines 5 pips above and below the range of the bars.
From 2 hours prior (to the start of the 24 hour day) until 2 hours into the start of the day.

"From here I would wait for the market to tell me where it wanted to go,
place longs above the top of the range and shorts below the range.
I'd chase the trade for as long as it went, applying a trailing stop at half the previous bar.
Most days it had 65-70% success."

Could you explain it in more detail? "It does sound very clear and to the point but just trying to get more info on what you look for in the above setup. " Thank you in advnace!