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Forum » General » Strategies & Profitability Techniques » Davids Strategy Discussion

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Author	Topic: Davids Strategy Discussion

crow45

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Re: BOD Strategy Discussion on: November 27, 2011, 12:32
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This is a screen shot from David's video and I think a good place to start.

Dave

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Re: BOD Strategy Discussion on: November 27, 2011, 13:33
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Hi I want to weigh in here and hopefully not throw too much water on the fire here. First, Cherry, David and I trade totally different as far as a strategy goes. I have not taken the time to learn how their strategies and I have not taught them mine. The strategy is 9% of being a successful trader but it gets 90% (or more of the attention.)

No two people trade the same. You can use Davids method as a basis, but you will need to take his strategy and make it fit your personality. There is no silver bullet when it comes to trading, the 95% that fail would be successful.

My sincere suggestion, get a charting program, get a demo acct (BDB will give them to all members here) and jump in. Try his strategy, see how it works and figure out what needs to be done different and that answer could be you or the tweaking of the strategy (to your personality) or both.

Some look for the perfect trading system instead of working on perfecting themselves as trader

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Re: BOD Strategy Discussion on: November 27, 2011, 15:31
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And please remember it takes a couple of months to test a strategy to see how consistent it is. Dont trade for a week and think because you went 90% your first week that you have a good strategy. You have to rule out luck, thats why you need to test it for at least 3 months.

Dave

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Re: BOD Strategy Discussion on: November 27, 2011, 19:49
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Excellent point Dean!! A strategy always needs to be back tested and demo tested before it is put into service.

Some look for the perfect trading system instead of working on perfecting themselves as trader

crow45

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Re: BOD Strategy Discussion on: November 27, 2011, 21:30
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Quote from Deans912 on November 27, 2011, 15:31
And please remember it takes a couple of months to test a strategy to see how consistent it is. Dont trade for a week and think because you went 90% your first week that you have a good strategy. You have to rule out luck, thats why you need to test it for at least 3 months.

You mean they are not going to hand us the holy grail? ... Seriously, what does this have anything to do with outlining David's system? Please tell me.

I would assume someone who can make 180 trades in a row, has probably tested his system extensively.

Dave, I understand psychology of trading has a lot to do with it. Also money management, conditions of the market, blah, blah. I heard it all before and there are endless books on the subjects. I am trying to get to the "meat and potatoes" of David's system as a starting point. Once established, then we can discuss the nuances of trading.

Optimus --
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Re: BOD Strategy Discussion on: November 28, 2011, 05:02
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you mean they are not going to hand us the holy grail?

lol there's no such thing as holy grail system am afraid. If there was 1 we all would be millionaires or worth more lol

cherrycoke

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Re: BOD Strategy Discussion on: November 28, 2011, 06:13
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Quote from Optimus on November 28, 2011, 05:02
lol there's no such thing as holy grail system am afraid. If there was 1 we all would be millionaires or worth more lol

"I was doing sum research on what makes a system successful. It makes sense, but don't you think it's best to have system that can trade universally; every time frame & in my example (Forex) every currency pairs?? What would happen if we were to optimise the indicators to work for a specific time frame & currency pair eg 10m time frame & strictly on USD/JPY?

If a system can be universally adopted, it is destined to adapt to whatever the market conditions."

Now where did i read this

http://www.cherrycokesignals.com/
https://www.signalpush.com/providers/cherrycokesignals/?cid=157

Optimus --
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Re: BOD Strategy Discussion on: November 28, 2011, 16:10
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How do u remember all these?? Did u record this somewhere 4 u to remember? Or by chance u visited over to HSM?
Lol I can't even remember what u wrote yesterday on the forums hahaha.

No I meant that with FX , it is possible to have the same system that can work universally for all TF between 5min-daily & all currency pairs. But it takes alot of hard work & time. Trading based on PA is also a system & it will work well if u have worked on it. I wouldn't necessarily want to use PA on FX to Stocks. Totally different trading environments, as stocks are more fundamentally driven. By the way with optimization, it would b ideal to have a moderately optimize any system, rather over optimizing or under optimizing (curve fitting)

David

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Re: BOD Strategy Discussion on: November 29, 2011, 21:08
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Here you go crow. Merry christmas. http://www.youtube.com/watch?v=EiyDIyL0tQY

cherrycoke

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Re: BOD Strategy Discussion on: November 30, 2011, 20:16
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Hey Crow , apparently only you can use the "edit" feature to change the header for this topic.
So go ahead if you still want to change. And since the much coveted video is out, i am sure this thread would find new meaning again.