Hi all
I have been searching for a forex/futures trading system with the following attributes for the last 7 years:
1) It must be CONSISTENTLY profitable. (I've found lots of systems that work brilliantly some days, but are rubish other days).
2) It must be objective rather than subjective. (I have discipline and can follow rules).
3) It should operate on the smaller timescales. (A 10 pip win with a 10 pip risk will earn me the same money as a 50 pip win with a 50 pip risk, and the smaller timescales give more trading opportunities).
4) It must have a smaller risk than reward. (I have seen many systems that risk 30 pips to make 5 or 10. Whilst they work great most of the time, the occasional loss will take you many winning trades to pay back; you only need 3 or 4 losses in a row and you're way behind).
5) The fewer indicators the better. (I too have trod the magic indicator overload route).
6) It should be profitable during the London open.
So if anyone actively trades a system that matches (or almost matches) my critera, using real money, and they are consistently profitable, please give me a clue as to where I should be looking.
I am extremely determined so it really pains me to admit defeat but after 7 years, I'm beginning to think that there is no one out there actually making money other than the brokers!