You May Find It Beneficial to . . . Ctrl + . . . Make Page Bigger

.

Probably . . The Worlds Best News Channel

Probably . . The Worlds Best News Channel
Click . . . Then Open A New Tab For Blog


The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors.

What is the Secret to Making a lot of Money in Forex ?

  • First it is to identify the currency that has the biggest chance to appreciate.

  • Second it is to identify the currency that has the biggest chance to depreciate.

  • Third is to match those two.

The Winning Strategy Is . . . The Simplest One !

There are many losing traders in this business. They think that they must be different, innovative and original to succeed. Yes, all that may be true, but unfortunately for them they choose an approach that is far too complicated. Being different and original does not mean that you have to use the more complicated system! Keep it simple. All the top traders will tell you that trading is easy. The famous trader Dan Zanger trades nothing else but a triangle pattern and he turned 10,000 dollars into 42 million in 23 months!

Another top trader, Larry Williams, (blog) trades well-known patterns. People wouldn't believe he could make a fortune trading simple patterns. He turned 10,000 dollars into one million and won the World Cup Championship. He taught his daughter Michelle Williams (biography) how to trade and she won the same competition when she was sixteen! Sceptics asked him to repeat these amazing results and he did.

Don't believe ? - Just Google it and see for yourself!

Most people are trying to succeed with help of sophisticated software and extremely complicated trading strategies. They sit in front of a computer screen all the day, but they still end up with losing trades. On the other hand, there are also some 'lazy' traders who trade a simple pattern once a day. They wake up, send an order to their broker in one minute and go swimming. They earn thousands every day and we call them top traders.

What a joke !

Scientists are continually trying to understand the Universe and they build theories that become incredibly complicated. As new experiments are carried out and new results are proven, they can succumb to the temptation to fit these results into their theories, rather than changing their theoretical assumptions to fit the results! Sometimes the whole theory fails. Experience has shown that the simplest theories survive. Never forget the rule of

Occam's Razor:

    ● If you have two theories that both explain the observed facts, then you should use the simplest one until more evidence comes along;

    ● Scientists must use the simplest means of arriving at their results and exclude everything not perceived by the senses;

    ● If you have two equally likely solutions to a problem, choose the simplest;

    ● The explanation requiring the fewest assumptions is most likely to be correct;

    ● The simplest explanation that covers all the facts is usually the best;

    ● Keep things simple!

“Everything should be made as simple as possible, but not simpler.” – Albert Einstein.

Occam's Razor philosophy is applied to many areas such as biology, medicine, religion, statistics... and of course Forex Trading. Too often currency traders spend so much time trying to understand a system that is so mathematically complex, that they never get to apply it. 1minutedaily.com teach a system that is easy to learn and put into practice, right out of the box. A complex theory of Forex Trading is not what day traders need; they need an empirical system that works and has been proven to work, over and over again. That is exactly what you have here in your hands now, a tool that works. . . . . 1minutedaily.com



Tuesday, 18 May 2010

Backtesting

Just a matter of checking everything is as should be.  HOWEVER . . . The model  DID  need changing to . . . Open Prices Only.

THE  REPORT

    * Initial Deposit - 10,000.00 -   1,000.00 -    500.00 -    100,000.00
    * Gross Profit  - 118,542.20 - 11,854.22 - 5,927.11 - 1,185,422.00
    * Gross Loss      - 77,559.00 -  7,755.90 - 3,877.95 -    775,590.00
    * Nett Profit       - 40,983.20  - 4,098.32 - 2,049.16 -    409,832.00

At first glance looks pretty good - Looking closer  at the period - 1st January 2009 > 1st May 2010 = 17 months . . Ughh

Decided to run it for a year - 1st May 2009 > 1st May 2010 = 12 months

    * Initial Deposit - 10,000.00 - 1,000.00 -    500.00 -   100,000.00
    * Gross Profit -    80,319.90 - 8,031.99 - 4,016.00 -   803,199.00
    * Gross Loss -     51,736.50 - 5,173.65 - 2,586.83 -  517,365. 00
    * Nett Profit -      28,583.40 - 2,858.34 - 1,429.17 -   285,834.00

Move the decimal point the other way  WOW !

As I already knew - The more Money you have - The easier it is to make Money !

OK . . . Not a very good  wage  for a years work, if you only started with  500.00  Not even that good if you started with 10K !

HOWEVER . . . Do the sums . . . 38583.4 / 10000 x 100 = 385.8 %  R.O.I . . . Which is the same regardless of your investment !

THAT'S  MORE  LIKE  IT.

AND . . Only spent 260 minutes working (52 x 5 x 1) out of 525,600 (365 x 24 x 60)  That's a lot of  FREE  time to enjoy.  Next year will be starting with 1400 - 28,500 and the year after . . . . . ?

You would  NEVER  want to spend any - knowing what you are loosing.  Easy to see why the rich are so tight with their money.

THE  SOLUTION - The Holy Grail System That Can Take You From 0 to 1 Million Very Quickly

To start at the beginning - Chapter One - The Good News and the Good News - Recommended

MY  CONCLUSION . . . What ever amount of money (equity) you have got . . . It should be working for you  AND  not tied up in a property or fancy car.  I wish they had taught me this at school.  They won't - cos!
Share |
Posted by Nehpets at 1:29:00 am

5 comments:

Smiffy said...

Hi Scott,
I started my Forex journey on breakouts (the same as 1minutedaily).
I can tell you that it WILL work, especially with the right money management...You really dont have to have a wad of cash to start off...i started with £100 and now trade fulltime. Take a look at these guys. http://tiny.cc/forex107

They will send you free sms forex signals for 2 weeks...maybe it could kick start things for you.

If you need my money management strategy..ie starting off with £100 ,just leave a request on this blog or on the 1mindaily thread and i will be happy to forward it to you.
Regards,
Paul.

18 May 2010 at 23:27
Nehpets said...

Hi Paul

Welcome aboard

For what ever reason your tiny url doesn't work for me !

Yes I do need a kick start.

I need to first get my head around the MetaTrader and favour working through the 1minutedaily manual to give me an inclin into what it's all about - otherwise I'd just as well throw it back at ClickBank and get my money back ! (sorry Tim & Julie)

Having said that . . . it's hard work . . . I don't find it user friendly . . . At least not for Dummies like me ! THERE'S AN IDEA !

I'll take you up on the money management strategy offer - Thank you.

You may have noticed a page I am putting together - Candlesticks - very interesting.

That's the biggest problem so far - So much information to take in and digest. Not to mention working on this site.

Ce La Vie

Regards
MayYouLiveLongAndProsper

PS How did you find your way here?



.

19 May 2010 at 14:19
Smiffy said...

Hello again,
I would wait until you feel at home with MT4 and using 1mindaily before risking any cash (paper trade for a couple of weeks).

Then instead of risking your account, start of by risking £100 following the daily trading plan.

If you get it wrong then just go back a day.

You will see what i mean when you download this:
http://www.mediafire.com/file/myd2jejzrz2/Daily Trading Plan.xlsm

My url seems to be ok for the free forex signals, so im not sure how to help with that one.

http://tiny.cc/forex107

Regards,
Paul.

19 May 2010 at 14:44
Nehpets said...

Appreciated,

Tiny url worked this time.

Unfortunately had to open Daily Trading Plan.xlsm with Open Office and was a read only - couldn't widen the columns past £98,938,151.44 But I got the drift.

Not sure I'd have the bottle to place that kind of single bet!

However, having read about 'Dan Zanger' (here on this blog) RISK IS THE NAME OF THE GAME.

Regards
MayYouLiveLongAndProsper

19 May 2010 at 23:35
Nehpets said...

Hi Paul,
Most strange - I downloaded the money management strategy again - opened it again with Open Office - NOT READ ONLY - Brilliant

21 May 2010 at 11:15

Post a Comment

Subscribe to: Post Comments (Atom)