"Whe someone comes on this forum and confidently states mechanical systems dont work they had better have some objectiveness and proper evidence to support that."
Likewise. When someone comes in here with a counter argument they have to provide evidence. You were asked yet failed to deliver.
Granted trading institutions use Algorithms, statistical arbitrage etc etc etc whatever. Obviously that has no relevance here. Those instos have teams of coders, super responsive super computers analyzing multiple markets constantly that have extremely complex parameters. Keep in mind there has been spectacular failures with these systems as well in given time.
I'm talking about the private trader at home that has a PC, limited data and obviously cannot literally look at multiple areas of the market 24/7, let alone analyze it in time.
Hometrader using the limited tools etc that is available to the private trader at home has backtested thousands of mechanical variations coming to the conclusion that drawdown was a major issue with Forex. Some of the researchers involved with Hometrader have worked in the trading industry.
I know professional traders that use price action come to that same conclusion.
Through my own experince I found Forex moves differently to the equity markets for example.
Stay away from retail black boxes. Stay away from anything mechanical. Learn raw price action and use it to make your decisions. Keep it simple. Use risk management. Don't overtrade. Don't day trade but rather use the longer time frames. Don't get greedy and be happy with a conservatve return. Any return does well in the long term when its compounded anyway.
