Equity:93.96 - Holy Grail?

Good day, recently I borrowed a book from my town library, which is the book below. The author of the book is actually a stock exchange trader. But the author claims that the technical strategies in the book can be used for anything that uses a candlestick chart. But the conditions to use his strategies is that the trading product has to be highly volatile and liquid. Needless to say, Forex is king in terms of those conditions.

Why is my title Holy Grail? Actually I believe there is a Holy Grail in trading. And many books that are written will tell you Dream On! Including the above book. Maybe it is just my definition of a Holy Grail. In this book, the very first method that was being taught something called the 'Bread and Butter' method. It is the author's favorite method, and to him it is the most consistent one. The author gives a statistic by testing the method in real data, and the winning chance was 13/17. That is like over 75% chance of winning using the trade!

What is the method all about? Basically, you use a 20 period and 50 period SMA (Simple Moving Average). And when the 20 line crosses under the 50 line, it is a sell opportunity. (Likewise if the 20 line crosses above the 50 line, it is a buy opportunity)

Then you go on to the next condition, which is by looking at the stochastic graph below. And if the stochastic line is facing downwards and hovering around the 80% region (for sell) , you sell!

Why do I conclude it is a Holy Grail? Because, I read another Singaporean book and it recommends the same thing! It is like people that goes through the S$3000 trading courses will be taught this method! Then why do the 2 books I read mention there is no such thing as a holy grail? Most of them have good intentions to say that, because they want to emphasize more on your money management skills, and not get complacent.

But to me, it is still a Holy Grail. Because when a Holy Grail is presented to you, it is still up to you to do whatever you want to it! You may use the cup as a mug for brushing teeth. You may find it so beautiful that you store it in your cabinet for display. You may even melt the cup for its precious metal. And to me, what you do with it is actually your money management skills.

Just like any Tom, Dick and Harry who gets excited and thinks he has found the Holy Grail, I will be depositing another S$1000 into my account. I hope this is a turning point in my Forex journey, and aim to hit S$100,000 in my account ASAP. It is because the author of the book mentions that only when you hit a 6 figure amount, then you can consider becoming a full-time trader. And that means not waking up every bloody morning at 6:30am for me!