Guys, your posts were interesting, but really off-topic, I've removed them, the Big Boss will restore them if he think it was a bad decision.
But the topic subject was: who use this, and if yes, what does he think about it.
As fas as I know, most if us here are Ninjatrader users, and a minority is trading Forex with MT4.
So, old wars from MT4 forum, well, I'm not sure it's very interesting for the majority...
I repear, the question was: who use this, how to use it, and maybe what is the associated equity curve, etc, etc.
It is not the indicators, method or system... it's the trader.
Price only moves up or down.
If you can properly identify which way price is moving, then you can be profitable. Some people need a little help and that's what indicators do. Where traders go "wrong" is that they think indicators predict future price movement. NOTHING CAN PREDICT FUTURE PRICE MOVEMENT WITH 100% ACCURACY. Failure to recognize that fact AND trade accordingly is why 95% of traders fail.
What's a trader to do?
"If you're always long, you can't always be wrong".
If you are always long and honor your stop loss, you will never experience the BIG DROP! But sooner or later, you will be on the rocket when it takes off. Ponder that sentence until the light bulb goes off and hits you like a ton of bricks. Of course, you can choose to only trade short and experience profitability, too. The trick is to stick with one trading direction. By doing so, you do not have to concern yourself with trend, support, resistance, and other "myths" of the market.
Of course, someone will want to debate me on this. Those people are always welcome to be the counter party on any of my future trades.
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