DislikedHi Eelfranz, this question is for you. although if anyone else knows something for certain please contribute also. I have not been trading long but in the short time I have been, I have lost money on a system that didn't work and I have read that even if systems do work they do not continue to work permanently. my question is this: Is there any reason that this system might not continue to work? what happens if too many traders get onto it. Not likely in such a huge market but who knows?Ignored
Even if everyone was using this exact system, people interpret signals differently. People have different ideas on the strength of candles and are bound to enter and exit during bad periods (ranging markets) or on weak candles etc... The system is super simple, but you can't throw out basic fx knowledge and skills out the window. Those skills, and your interpretation of them, will effect the way this system compliments your trading.
If it was as simple as it will work for everyone or it always works, then it would be easily turned into a robot... Robots, in my opinion, are destined to fail due to lack of interpretation being used. The system isn't going to "break" whats going to break (if anything) is HOW YOU use the system and your particular style. I have spent a huge amount of my free time playing with this and learning fx basics (still learning haha) and can tell you my first few plays have been terrible and lost a lot of monopoly money... After having found this, and still learning it in conjunction to adding to my basic fx knowledge, my penny trading is now a break even... Not making anything, but not loosing, and still learning!
I'd highly suggest reading this thread from start to end, there is so much information here to learn and absorb!