Our Main EUR/USD Trend is Short.
EUR/USD today will go Short. Entry Level I'll give you little later.
This way we do not loosing no one pip.
Everybody got Buy EUR/USD 1.3037, now Stops neat Entry.And let it go.This our Buy Entry against trend for extra money, but later we'll Sell. Short is our Main Trend.
Next week we'll Sell much lower... it means we'll add much more from our Profit.
It was our last Daily EUR/USD Sell near 1.3437.
Now it's good time to concentrate on EUR/USD Short.
We'll Sell EUR/USD in algforex.com.Yesterday our EUR/USD Buy 1.3417 did not go well.
TIPS FOR FINDING GOOD TRADES ON A SMALLER TIME FRAME
People find many ways to be successful in the market, some use price action, some use trend lines, some use moving averages and other indicator, some use the news and some use support/resistance, etc. Whichever method You use to bring You success, supreme discipline will make it even more successful. REMEMBER: Your biggest opponent to market success stares back at You from Your own mirror.Since you never know what the market is going to do, always be prepared to cut a trade that has moved against You. If You are telling yourself, it will come back that is a trade You should have cut.
With a good signal, You are only likely to get 2-6 trades per 24 hour day that yield 30 pips or more on the EUR/USD.
Since the market doesn't trend most of the time, it is a good idea to master other forms of trading.
Let's talk about ways to increase your odds of getting some of those trade set-ups.
Know Your candlestick reversal patterns.
Understand support and resistance.
Understand trend lines, moving averages or any other indicator that you are using.
The more things You have confirming Your analysis the more likely You are to have entered a successful trade.
Example:
A hammer at a point of previous support that closes above a major moving average, at a Fibonacci retracement, with a MACD cross and an oversold Stochastic. That is a pretty extreme example, but more confirmations You have to Your advantage the better.
Always be sure that your flagship candle closes prior to entering the market, because like the hammer in the paragraph candles can drastically change form in the last minutes or seconds of a candle's closing.
Considering that You have so few really great trades in a day, You need to put as many odds in Your favor as possible.
Try to trade the more active liquid markets
If You are in a range bound market be sure to identify resistance and support. Only counter-trend off of resistance or support with proper candlestick confirmation.
Trade in harmony with an established trend.
Swing trade swing highs and swing lows in a swinging market.
Wait for a candlestick candle to close confirming a signal.
Have 2 or more things confirming Your analysis.
Take good candlestick reversals within a trend and against the trend. In an established trend You will have corrections and retracements, getting a strong reversal signal in harmony with the established trend usually makes for a good entry.
No trend goes on forever, at some point trends take hard dips and reversals. Candlestick reversals make valuable entry signals in these situations. The more confirmation to that signal the better.
If the next candle engulfs Your entry candle, GET OUT!
Often times reversals at the beginning of a trend is a trap. The more established Your trend; the more likely it is to reverse with proper reversal confirmation.
Trend lines and moving averages are good temperature gauges, they help identify a trend that has already started or they can show market strength or weakness. A price break and close above usually indicates strength and a break and close below shows market weakness, but these can also be market shake outs.
KNOW THAT UNLESS YOU ARE A GREAT SCALPER, YOU DO NOT NEED TO BE IN THE MARKET ALL DAY. AFTER A GOOD RUN, YOUR TRADE IS LIKELY TO RUN OUT OF GAS. Use this time to rest and wait for the next trade. YOU USUALLY DON'T GET GREAT TRADES BACK TO BACK. THERE IS USUALLY A WAITING PERIOD IN BETWEEN GOODTRADES. LIKE A BUS SCHEDULE INCLUDES WAITING PERIODS BETWEEN BUSES, SO DOES THE MARKET BEEN PROFITABLE TRADES. THERE IS A WAITING PERIOD, SO WAIT; OTHERWISE THE MARKET WILL TAKE BACK THE PROFIT IT GAVE YOU!!!!
THE VERY BEST SET-UP CAN FAIL. THE MOST IMPORTANT TOOL IN A SUCCESSFUL TRADERS TOOL BOX IS THE CUT SCISSORS TO CUT A BAD TRADE QUICKLY!!!!!!
THE DIFFERENCE BETWEEN A SUCCESSFUL TRADER AND THE UNSUCCESSFUL TRADER IS DISCIPLINE!
If You get tricked, CUT THAT TRADE SHORT AND TRY AGAIN LATER!
DISCIPLINE WILL DO FOR YOUR FAMILY WHAT DESIRE WON'T!!!
YOU CAN DO THIS (^_^)!
To our EUR/USD 1.3855 Short we do one more adding...
We did adding EUR/USD Short 1.3817, so now we do manage Stops based on own Profit and risk management.
THINK PERCENTAGES AND MONEY MANAGEMENT
This was the Email Response I got from the $236 video challenge and I loved it so much that I had to share it!
People don't realize that it's not how much you have in your account that determines success. Whether you win or lose, its all based on percentages. Its still the same percentage of the account gained or lost on an account with $100 as it is with $10,000 or even $1,000,000. 5% gained is $5 on the $100, $500 on the $10,000 and $50,000 on the $1,000,000. The actual returns, money wise is different.. but the percentage gained is the same. People who say success isn't possible with a small account, don't know their percentages well.
You can successfully grow a very small account with proper knowledge and discipline. In fact, its smarter to start with a small live account until you can trade with discipline and confidence; that way you don't lose as much initially. A small live account is training grounds to build a larger account.
What's the point in adding funds to your account if you can't build the little you have in your account already?? If you're losing and not gaining consistently.. putting more funds into your account is just going to ensure that you lose more! It is the consistency of applying a good strategy, not the account balance that gives a trader the advantage.
Hopefully traders understand the value of thinking 'percentages', instead of account balances.If you think in percentages, you also understand the value of money management so much better.
For example, if a trader loses 50% of their account, it requires a 100% gain (double!) to get to break even. Whereas, a 25% loss requires only a 30% gain (a mere 5% over the loss) to break even.
A good trading system combined with strict disciple, and good money management will lead to success for any trader, no matter what their account size!
HAPPY TRADING!!!
Thanks Steve!!!
LOVED IT!!!!!!!!!!!!!!!!(^_^)!
Now it's absolutely dangerous to Sell EUR/USD. Hold all EUR/USD Long.
We'll add EUR/USD Long, but I still don't know Level.I'll let you know in algforex.com 6h before Entry.
I did Sell 1.3831 and lost 25 pips.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do
EUR/USD still short and Today I'll add 1.3333 very small.It came time to make Big Money.EUR/USD will fall down, because of crises in Europe.We do not care why it came and where crisis is bigger, we know that now it's time to Sell EUR/USD.So if you are new just Sell very small amount.Later next day or better in 2 days add one but also very small.It means do not take money from account, but take
Very, very... dangerous to Buy EUR/USD.
If you do not have algforex.com Signals, just Sell EUR/USD and you'll make money anyway.
FOREX IS RANDOM
Have You ever had the perfect trade set-up, the perfect time and the perfect indicator reading and the market still went against You? What most traders don't understand is that forex is a random game of chance where You are constantly seeking an edge. The edge when your set-up fails is to CUT!
The same trade set-up that bought You the fancy car and the great house the last time may move sharply against You this time. Pros cut bad trades all of the time, because they understand that this is a game of chance. In order for my trade to work out just right, I have to have some bigger players agree with my analysis or loads of other people to see the opportunity that I see and jump aboard with their hard earned cash. If the majority of the money doesn't agree, the market will move against me; that is why it is so important to protect your profits when your set-up fails because it will.
The advantage of the pro is the discipline it takes to be consistently profitable. I might see a set-up and think I have reached the bottom and buy, but the bank with $700,000,000,000 may think, the market can drop another 70 pips. Who do you think the market is going to respond to??????????
In a situation like the one above, most traders will try to re-analysis the set-up, go to higher, lower time frames, and find reasons why they are right, while the market continues to move against them. Before the day's end they have a margin call or they are so far down they don't dare cut; then that sickening uneasy feeling creeps in. That feeling that says, 'I can't afford to lose this money, I have to pay my mortgage'. The wise trader says 'Oh hell, this ship in sinking fast, I'd better jump and swim ashore and wait for the next ship" At the end of the day the bank that started out with $700,000,000,000 ends the day with $700,067,893,972, because so many traders refused to except the fact that THERE ARE NO ABSOLUTES IN TRADING! The people in the bank end the week with fat paychecks, take nice trips, and live the lives most only dream about. They live these lavish lifestyles because so many traders 'who have to be right all of the time' are constantly contributing into their wealth pool. It is true that the rich keep getting richer, and it is especially true in forex. QUIT CONTRIBUTING TO THEIR FAT, FANCY LIFESTYLES AND START CONTRIBUTING TO YOUR OWN!!!!!
Imagine if You will that at the top You have big banks and mega traders who have the power to influence the market in ways that You and I can't imagine doing. Now imagine that these same people have vacuum cleaners in the average traders pockets. They lead traders like sheep to the slaughter with what seem to be good trade set-ups, then they turn the vacuum on and that's it. The traders who didn't cut the bad trades are now broke and miserable, while the banks and mega traders are fat, rich and happy.
Trading is not a right and wrong game, it is a shopping game. You have to spend money to find the best deals. If the deal fails, stop your money flow into it and look to buy a better deal. No man in his right mind would continue to send someone $100.00 every month to get the grass cut, when the grass man never shows up, yet traders pay good money for positions that are not serving them.
QUIT PAYING TO BE WRONG AND BROKE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Your positions should be making You fat, rich and happy!
All You can really do in forex is look for the odds that give You an advantage and grab'em. If You grab and find that Your hand is full of air instead of paper, You'd better cut that trade and follow the money trail. The discipline to follow good trading rules will give You the advantage in forex!
YOU CAN DO THIS (^_^)!!!!!
Our priority is EUR/USD Short since 1.3773, but ...
We must to remember that somebody always wants to take our money.If 1.3575 would be broken substantially, it would go more Long.So, please manage your investments very carefully.
Analisis 21 September
GU (D1)
Status : Not Valid
Trend : Downtrend + major correction
Entry : Buy Stop @ 1.5756
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5826
TP2 = 1.5946
TP3 = 1.6043
Stop Loss @ 1.5628
Status : Not Valid
Trend : Downtrend + major correction
Entry : Buy Stop @ 1.5756
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5826
TP2 = 1.5946
TP3 = 1.6043
Stop Loss @ 1.5628
I got 3 Entries. No more for me... you can take more on your own risk.
I'll hold all Entries for weekend.EUR/USD Sell near 1.3937GBP/USD Sell near 1.5875AUD/USD Sell near 1.0331NZD/USD Sell near 0.8257USD/CAD Buy near 0.9841USD/CHF Buy near 0.8633
Analisis 15 September
GU (D1)
Status : Not valid
Trend : Downtrend + major correction
Entry : Buy Stop @ 1.5818
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5882
TP2 = 1.5991
TP3 = 1.6080
Stop Loss @ 1.7503
Status : Not valid
Trend : Downtrend + major correction
Entry : Buy Stop @ 1.5818
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5882
TP2 = 1.5991
TP3 = 1.6080
Stop Loss @ 1.7503
Analisis 15 September
UCHF (D1)
Status : Not valid
Trend : Uptrend + major correction
Entry : Sell (0.8798 - BDB D1)
Filter: BDB Daily + Divergence H4
TP1 = 0.8462
TP2 = 0.8319
TP3 = 0.8176
Stop Loss @ 0.8931
Status : Not valid
Trend : Uptrend + major correction
Entry : Sell (0.8798 - BDB D1)
Filter: BDB Daily + Divergence H4
TP1 = 0.8462
TP2 = 0.8319
TP3 = 0.8176
Stop Loss @ 0.8931
Analisis 15 September
EU (D1)
Status : Not Valid
Trend : Downtrend + major correction
Entry : Buy (1.3695 - BDB D1)
Filter: BDB Daily
TP1 = 1.3897 (Target Hit!)
TP2 = 1.4022
TP3 = 1.4146
Stop Loss @ 1.3496
Status : Not Valid
Trend : Downtrend + major correction
Entry : Buy (1.3695 - BDB D1)
Filter: BDB Daily
TP1 = 1.3897 (Target Hit!)
TP2 = 1.4022
TP3 = 1.4146
Stop Loss @ 1.3496
ALGORITHMIC TRADING (GUEST BLOG)
What is algorithmic trading?
Trading with an algorithm is where traders take their trading strategy and put it into code, allowing a computer to execute that code 24 hours a day while the market is open. By default, trading manually is restricted to waking hours (often aided by the use of Red Bull, in my case), and is limited to the number of charts and currencies the trader can watch.
Naturally, the amount a single person can watch, monitor and trade is quite finite. But by utilizing an algorithm traders can have computers do in microseconds what would take humans hours to manually, thereby opening up a new supply of trading opportunities (not all of them being good opportunities, mind you).
Meta4 trading platform allows traders to create their own automated forex trading programs in what is called an “Expert Advisor.” The use of the software is free for all traders - demo and live.
The rise of the algorithm
According to my research, in 2004 a whopping 98% of trading in the foreign exchange market (or forex for short) was manual trading; but by 2010 only 55% of trading volume came from a human. The forex market is a fast moving market that is open 24 hours a day, and I think this huge influx in algorithmic trading is traders trying to capitalize on these factors.
Some exchanges here in the States have tried to embrace algorithmic trading, but have met resistance. My research concluded that forex has been more friendly to algorithms simply because the market has no central exchange to regulate where a trade comes from.
The Pros and Cons
One of the benefits of algorithmic trading in any market is the increase of liquidity. Algorithmic trading typically places more trades than a human naturally would, which opens up more liquidity for everyone: human and machine alike. But with this comes a change in volatility. An increase in volume naturally leads to increased volatility. But some suggest algorithmic trading might actually lower market volatility as algorithms aim for optimal execution at minimum cost.
What’s on the horizon?
One very important lesson from my college years is this: the more we learn, the more we learn we don’t know. My research into algorithmic trading has answered some questions, but seems to have opened up even more. For instance, what is the future of algorithmic trading, and how will it impact my trading? I’m currently researching this topic, and plan on releasing another infographic soon with my findings. Stay tuned: more good stuff is on the way!
For more information on Algorithmic trading, Here is a programming link: http://www.ibfx.com/Education/Programming, or You may contact Adam at <adam.evans@interbankfx.com>
Analisis 13 September
Gold (D1)
Status : Success!!!
Trend : Uptrend + major correction
Entry : Sell Stop @ 1822.80 (SOA D1)
Filter: BDB Daily + Bearish Divergence
TP1 = 1750.09 (Target Hit!)
TP2 = 1698.85 (Target Hit!)
TP3 = 1646.61 (Target Hit!)
Stop Loss @ 1885.00
Status : Success!!!
Trend : Uptrend + major correction
Entry : Sell Stop @ 1822.80 (SOA D1)
Filter: BDB Daily + Bearish Divergence
TP1 = 1750.09 (Target Hit!)
TP2 = 1698.85 (Target Hit!)
TP3 = 1646.61 (Target Hit!)
Stop Loss @ 1885.00
Analisis 13 September
GU (D1)
Status : Not Valid
Trend : Downtrend + correction
Entry : Buy Stop @ 1.5884
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5932
TP2 = 1.6032
TP3 = 1.6112
Stop Loss @ 1.5768
Status : Not Valid
Trend : Downtrend + correction
Entry : Buy Stop @ 1.5884
Filter: BDB Daily + Bullish Divergence H4
TP1 = 1.5932
TP2 = 1.6032
TP3 = 1.6112
Stop Loss @ 1.5768
Hold all EUR/USD Entries Short as much as you can.
Very strange feelings. Everybody loosing money. Stock market, realtor and all investments going wrong, but we're making huge amount of money.
Hold all EUR/USD Entries Short as much as you can.
Yesterday Call was:I would Sell EUR/USD 1.4047.It means FOREX is amazing kind of business. We're making money always in all conditions of market.
We did Sell EUR/USD. No more Entries. Hold EUR/USD Short as much as you can.
It was our Update:EUR/USD Sell near 1.4097GBP/USD Sell near 1.6053AUD/USD Buy near 1.0537NZD/USD Buy near 0.8253USD/CAD Sell near 0.9897USD/CHF Buy near 0.8497
It was 09/01 Update:
EUR/USD Sell near 1.4297GBP/USD Sell near 1.6197AUD/USD Buy near 1.0667NZD/USD Sell near 0.8577USD/CAD Sell near 0.9799USD/CHF Sell near 0.8077
Yesterday our Update was:
Absolutely no correlation between USD pairs.EUR, GBP Short, AUD, NZD Long.Selling USD/CAD, Buy USD/CHF.Invest just very small amounts.EUR/USD 1.4473GBP/USD 1.6347AUD/USD 1.0607NZD/USD 0.8473USD/CAD 0.9831USD/CHF 0.8107
We did know that some news is coming, so we did wait.
U.S. stocks plummeted with the benchmark indexes down about 4% or more, on worries about Europe and the global economy.
If we'll not be in hurry,- no effect on our Trading at all.
We Trade Intraday, just taking our Profit and run.
So let's wait until end of US session and we'll take our Daily Income, but little later.
U.S. stocks plummeted with the benchmark indexes down about 4% or more, on worries about Europe and the global economy.
If we'll not be in hurry,- no effect on our Trading at all.
We Trade Intraday, just taking our Profit and run.
So let's wait until end of US session and we'll take our Daily Income, but little later.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
08/15 Intraday Update. Next Update just in algforex.com.
EUR/USD Buy near 1.4207GBP/USD Buy near 1.6237AUD/USD Buy near 1.0347NZD/USD Buy near 0.8257USD/CAD Sell near 0.9927USD/CHF do not correlate (still Long). No Trade.
Next Update just in algforex.com.
EUR/USD Sell near 1.4207GBP/USD Sell near 1.6373AUD/USD Sell near 1.0677NZD/USD Sell near 0.8573USD/CAD Buy near 0.9653USD/CHF Sell near 0.7793 (no correlation)
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
Next Update just in algforex.com.
AUD/USD and NZD/USD do not correlate.EUR/USD Buy near 1.4447GBP/USD Buy near 1.6034AUD/USD Sell near 1.0731NZD/USD Sell near 0.8321USD/CAD Sell near 0.9647USD/CHF Sell near 0.8473
We got very small amount, because it came just with 7 pips accuracy. Usually it goes with 3 pips. We did not get 4 pips for Safe Entry.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
Buy EUR/USD near 1.4427.Next Update just in algforex.com.Last our Signal was "Buy EUR/USD 1.4337."Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near
EUR/USD Sell near 1.4207.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make
We lost 25 pips.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note.
FOREX AND DISCIPLINE
Besides skill, there is really only one thing that separated the pro from the amateur in forex and that is DISCIPLINE!
The DISCIPLINE to do what You need to do when it needs to be done. In order to succeed in forex, You need a game plan. A set of rules that You must adhere to in order to enjoy any real measure of success. Forex is a master game that isn't hard; it is just tricky and not playing with discipline is a very costly venture. The #1 No-No in forex is holding on to bad trades. It is the thing that will break You faster than anything else.
Let me simplify this for You:
Superior DISCIPLINE = Superior Success and eventually a lavish lifestyle
Great DISCIPLINE = Great Success and eventually a very lucrative lifestyle.
Good DISCIPLINE = Measured Success and a nice/decent living.
Fair DISCIPLINE = Too much frustration and lots of struggling.
No DISCIPLINE = BROKE, busted, frustrated and disgusted
When I first started sharing strategies, I was asked was I afraid that the market might start to change because of my sharing. I know that any master trader can freely share any strategy/secret and the market doesn't have to worry, because most traders don't have the DISCIPLINE make the strategies work for them.
Everyday Traders are lead into traps by Master Tricksters and it happens to the best of Pros too, but the difference is that the Master Pro will spring the trap when Her/His rules say cut, while the amateur will hold on until the market cuts the trade for them. Never let the market cut Your trade, because it will always be at a point much worst than the point that You thought You couldn't afford the loss.
DISCIPLINE is the ultimate advantage for the Pro Trader. It is the secret forex weapon that the Amateur fails to use. Traders are always looking for the holy grail of trading, well the closest thing to the holy grail in trading that I know is discipline. The discipline to enter when Your rules show that You have the advantage and the discipline to exit when Your rules show that You don't have the advantage that You thought that You did.
A trader who follows a good set of rules with discipline will enjoy success and happiness, the trader who makes exception to good rules will be frustrated, full of self pity and BROKE.
REMEMBER THE CHOICE IS ALWAYS YOURS, YOU NEVER HAVE TO STAY IN A BAD TRADE. YOU ALWAYS HAVE THE POWER TO CUT!
YOU CAN BE SUCCESSFUL HERE, BUT ONLY IF YOU CHOSE TO BE!
YOU CAN DO THIS (^_^)!
In algforex.com we'll do one more safe EUR/USD adding Long.Later we'll show and there.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also
THE 3 C's TO SUCCESSFUL TRADING
Confidence
Consistency
Cut
Consistency
Cut
Develop a system that You have confidence in and trade it boldly! Have confidence to ride winning trades until your rules say exit.
Be consistent with Your trading rules even when it hurts. Discipline in the market is what makes a long term successful trader.
Cut bad trades quickly! Always have a cutting point when You know that You no longer have the advantage. All long term successful traders use a Stop losses! Traders who refuse to cut bad trades go broke
It is better to ride the price train than to be hit by it **
YOU CAN DO THIS (^_^)!
Be consistent with Your trading rules even when it hurts. Discipline in the market is what makes a long term successful trader.
Cut bad trades quickly! Always have a cutting point when You know that You no longer have the advantage. All long term successful traders use a Stop losses! Traders who refuse to cut bad trades go broke
It is better to ride the price train than to be hit by it **
YOU CAN DO THIS (^_^)!
HOW TO GET GOOD AT FOREX
Many people are wondering how to get good at forex. Forex is very easy, the discipline to do what you need to do in forex when you need to do it is what is hard. I always talk about discipline in forex, today I want to talk about how You get good at forex.
The first thing I want to suggest is to STUDY!
Study and learn your candlesticks/bars, it doesn't matter which one, although your candlesticks provide more of a visual signal than your bars. This is the language of your charts, learn it well! Get to know the language of the charts like you get to know a lover. You can not be successful in forex without a deep understanding of chart language. Both the internet and your library provide some valuable inexpensive material on your candlesticks and bars. I picked up Steve Nison's Candlestick books at my local library.
You have to learn to be a chameleon. You have to have the ability to switch sometimes very quickly as price may change from it's course and choose a new course. Forget the "Trend is Your Friend", "You need to be the Friend of the Trend", when it changes, You'd better change too!!!!!
You must be confident.
You need to observe price movement and study past charts.
You have to take baby steps and keep going forward. Trade tiny amounts first; get your feet wet before jumping in the pool.
Open one position at a time until You are proficient and disciplined enough to handle more.
You have to be able to WAIT (for a proper trade set-up)
You have to be in the market, even if it is with a penny. You have to trade so that you can learn to deal effectively with your emotions.
You must learn to control your fear, and take risk on good trade set-ups.
You have to believe that you can trade successfully, I have made every mistake in forex that can be made, more times than I dare to think. I am no smarter than You. I have probably just gotten my butt kicked a lot more.....lol (^_^).
My success has come through GOD's grace and persistence on my part. A Trader is much like a Doctor or Lawyer. We are Practitioners always perfecting our craft.
The 5 things that are going to make You successful in forex are these
knowledge
discipline
patience
consistency
faith
YOU CAN DO THIS (^_^)
Learn the language of Your charts
Wait for a proper trade set-up
Cut bad trades quickly, then wait to see where the market is going and follow profit once the trend has revealed itself
NEVER LET THEM TRAP YOU! it is better to be tricked than to be broke
YOU CAN DO THIS (^_^)!
CBclickbank Website Review Promotion
CBclickbank Website Review Promotion: "Free download indicator"
ZMFX all pivot levels
Description:
Here is an indicator, which draws daily, weekly and monthly pivots, support and resistance levels. All lines are drawn from the beginning of the timeframe (daily levels - from the beginning of the day etc.).
You will be able to choose which timeframe (monthly, weekly, daily) pivots, support and resistance levels to show. Also, there is an option to choose any level color. For more information visit ZoomInForex.com.
Update:
In v2 corrected issue on smaller timeframes, when labels did not show on chart. Now You can adjust label position by Yourself. Also, added customization possibility to change pivot, support and resistance lines type and width.
Download: ZMFX all pivot levels.mq4
Download: ZMFX all pivot levels v2.mq4
I-Regr Alert Notifier
Description:
It alerts when Price Breaks Up or Down I-Regr lines.
Regression Channel
Linear Regression Channel consists of two parallel lines, equidistant up and down from the line of linear regression trend. The distance between frame of the channel and regression line equals to the value of maximum close price deviation from the regression line.
Linear Regression Channel
Second-power (Parabolic) Polynomial Regression Channel
Third-power Polynomial Regression Channel
MetaTrader Indicator i-Regr Setting
Degree - power of Polynomial : 1- linear; 2- parabolic; 3- Third-power
MetaTrader Expert Advisor e-Regr based on Regression Channel MetaTrader Indicator
If price lower than under line - Buy
If price bigger than upper line - Sell
TakeProfit by average line.
Stop Loss = 0 but you can set Stop Loss
Trend Protection: If D1 candle (for previously day) bigger than 150 pips – trade prohibition and close all opened position.
Stop Loss = 0 but you can set Stop Loss
Trend Protection: If D1 candle (for previously day) bigger than 150 pips – trade prohibition and close all opened position.
MetaTrader Expert Advisor e-Reg Setting
Warning: The Expert advisor e-Regr was not adjusted and was not optimized.
Download: i-Regr.mq4
Download: e-Regr.mq4
Kaufman Volatility
Description:
Kaufman Volatility according to Perry Kaufman books "Smarter Trading".
Download: b_Kaufman_Volatility.mq4
Kaufman Efficiency Ratio
Description:
Kaufman Efficiency Ratio (also called "generalized fractal efficiency") according to Perry Kaufman books "Smarter Trading" and "Trading Systems & Methods".
Download: b_Kaufman_Efficiency_Ratio.mq4
Description:
This indicator compares four types of regression (linear, quadratic, logarithmic and exponential) and chooses the one that best fits the data analyzed.
This analysis is done every time there is a new tick.
// ---- inputs
// dp_limiter It should be >2 . If not it will be autoset to default value
// endpos Last value position to the right. It should be >0. If not it
// will be autoset to default value
// record [true] - record on; [false] - record off
extern int dp_limiter =100; // Number of data points
extern int endpos =0; // Last value position
extern double multStdDev =1.96; // Bands separation
extern bool record =false; // Record info into a file text
In the left top corner of the chart four values are displayed. These values represent the dispersion of data regarding to its regression, so the smallest value indicates the best option. Additionally, the indicator allows recording these values into a text file for further analysis.
Download: b_Regression_Analysis.mq4
ZMFX Forex Trend v3
Description:
More information at my blog. Allows You to have a look at 8 currency pairs and their 5 indicators with this, 1 indicator. It is recommended to use it on higher time frames, such as 4H, Daily, Weekly. For example, if trading on 15MIN TF, put this on Daily chart, and trade strongest and weakest currency pairs, depending on trend direction.
Arrow descriptions:
LIME arrow - extreme Bullish trend.
GREEN arrow - simple Bullish trend.
FIREBRICK arrow - simple Bearish trend.
LIME arrow - extreme Bullish trend.
GREEN arrow - simple Bullish trend.
FIREBRICK arrow - simple Bearish trend.
RED arrow - extreme Bearish trend.
Download: ZMFX Forex Trend v3.mq4
GMACD
I do not take and will not take any glory for it cus i am not worthy for it.
It is that I found it too good to be ignored and I can see that many do not even know of its efficacy.
Download: GMACD_Signals.mq4
JJN-ActiveHours
Simply displays active hours (definied by the user).
Useful for visual backtesting.
Download: JJN-ActiveHours.mq4
JJN-Autopitchforx
Automatic Andrews, Schiff or modified Schiff pitchforks.
IMHO: modified Schiff is the best.
Download: JJN-AutoPitchforx.mq4
JJN-Fibo
Intra-[Month,Week,Day,H4,H1 ...] Fibonacci. (Maybe) one of the most useful Fibonacci tool.
For example:
Intraweek (BasisTF=10080) Fibonacci on H1 chart with ProcessedUnits=1:
Intraweek (BasisTF=10080) Fibonacci on H1 chart with ProcessedUnits=2:
Download: JJN-Fibo.mq4
JJN-TradeInfo
Indicator that shows profits and losses (in pips and money).
I use PosX and PosY, because I like it better than Corner.
I use PosX and PosY, because I like it better than Corner.
Download: JJN-TradeInfo.mq4
Buy / sell indicator with alerts.
It calculates number of bars on charts and then based on histogram it draws a arrow which is again confirmed when next opening bar price its high in case of buy arrow or low in case of sell signal, when both these conditions are satisfied it draws an arrow.
it is price behavior change It means if arrow has appeared price will change it direction a five bars sequence, where the central bar has higher maximum or lower minimum arrow shows central bar position.
Sound pop-up alert as well email alert have been added to it.
Recommended timeframe 1 hr.
it is price behavior change It means if arrow has appeared price will change it direction a five bars sequence, where the central bar has higher maximum or lower minimum arrow shows central bar position.
Sound pop-up alert as well email alert have been added to it.
Recommended timeframe 1 hr.
Download: trendsignal.mq4
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