Trading Systems don't last forever? Myth? I saw the below trader talk and decided to reply here at the new TSL Support Forum.
Quote:
Quote from focusonmoney:
What do you think guys, is this true or not? I have seen some traders actually say they have been using the same system for like 10 years and longer.. I think the systems that really last long are the ones that focus on price action (no indicators).. What are your thoughts?
You really need to look into that statement very carefully via the words...
Quote:
...been using the same system for like 10 years and longer...
Most traders using the same system for years like 5 years, 10 years, 15 years, 20 years or more...they have made modifications or adapted it whenever market conditions change so that the method can still exploit the price action.
Thus, I doubt there are traders using the exact same method without any modifications for that long of period of time because the markets have change often as expected and any trader that ignores those changes will endure deep drawdowns.
I myself have been using the same trading approach/method for many years with small modifications whenever market conditions change...
Yeah, it's a price action only (no indicators) trading approach.
As for indicators, if you use them long enough, you eventually begin to understand the price action in that you no longer have a need to trade via indicators.
In fact, I've met a lot of indicator traders that moved into price action only trading not because their indicators performed poorly...
They made the change because they developed over the years a stronger understanding of the markets and the price action they're trading that there was no need to continue using indicators.
Note: I'm a member of EliteTrader.com (a.k.a. ET) via the user name NihabaAshi. Instead of replying to messages at ET with useful trading tips or market insight, I prefer to reply to such messages here at my own forum in a more controlled environment. Go Back To TheStrategyLab.com Homepage
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