Hello,

I've been trading demo/prop firms consistently for 1 year. I've failed 2 auditions. I've been trading all 28 FX pairs primarily on the daily chart. I'd like to continue using daily charts, trading all symbols, and I want to pass my audition at the same firm or another one.

Here are the pieces I am missing:
- Is there a way I can filter out certain pairs that have high swap fees? Is there an indicator for this?
- I have 2 new indicators on my chart. They are designed for trading trends. I'm using iTrend as my primary confirmation and HILO channel OMA BT as my secondary confirmation. Do I need a third indicator for exits? Any suggestions?
- I am using Position Sizer for risk management. 1.5 ATR for Stop losses, first TP at 1.5 atr and 2nd TP no level. As far as risk percentages go, I don't know whether to have less positions open at 2% risk or more positions open at .5-1 % risk. Any suggestions?

Indicators used:
https://www.earnforex.com/metatrader-ex ... ion-Sizer/
viewtopic.php?p=1295454737#p1295454737
viewtopic.php?p=1295476158#p1295476158

OANDA MT4 Demo Account for Analysis

the only way to tell swap fees is look at the brokers symbol details
never seen such an indicator unless someone built it new

Looks to me like you should be a trailing stop loss person
there is an ea out there called the wheelbarrel, i think it is for that positioning
have not personally used it


might try giving orbit a go on the 4hr? ItalianTrader posted examples of how simple

Chickenspicy wrote: Tue Sep 12, 2023 12:00 am the only way to tell swap fees is look at the brokers symbol details
never seen such an indicator unless someone built it new

Looks to me like you should be a trailing stop loss person
there is an ea out there called the wheelbarrel, i think it is for that positioning
have not personally used it


might try giving orbit a go on the 4hr? ItalianTrader posted examples of how simple

Can't find any information on wheel barrel.
Orbit seems overkill for my purposes.
Thanks though.

bilbao wrote: Sat Apr 15, 2017 4:47 am Specification

only the single file
someone would have to create a dashboard of it
but i dont think anyone here knows how

Adding more info here about my trading schedule, history and goals so that people can suggest the right indicators.

- Goal is to pass most challenges that prop firms offer in FX, which is to hit 6% profit targets and not go below 5% drawdown, then maintain profitability so that the account can be scaled.
- Prefer Forex because the swap fees are lower and most prop firms offer FX trading. Open to exploring other instruments as long as the commissions/fees are low and ideal for holding overnight.
- I only like to analyze overbought and oversold levels if they are relevant for avoiding whipsaws. For example, do not enter a long trade if the price is currently within an overbought area, so that I can avoid getting stopped out early. I currently have been playing with Trend Scalp and HAOS Visual Averages from the Top 10 list, however I would prefer to see evidence of fewer, stronger reversal points.
- I've decided that timeframes are not the best metric for deciding how frequently I should trade. For example, a g channel on the 1 hour chart will show much fewer entry signals on the chart than HAOS Visual Averages. In this instance, the timeframe is irrelevant in terms of determining holding time for a position.
- Based on my journals of demo trading for a year, I've determined that I start to get impatient when I hold trades for longer than 2 weeks.
- 2% Monthly return is my goal.
- I can spend 2 days a week day trading for about 4 hours each day. I live in the Chicago time zone.
- I could also trade on a longer time frame and place 2-3 trades each week, checking charts whenever time permits.
- I prefer entering long or short when indicators are in agreement. Highly systematic.
- I don't prefer mean reverting strategies over trend trading or vise-versa. I care more about good back testing performance and the constraints listed above.

Hi ethica,

I'm curious. You said:

- Goal is to pass most challenges that prop firms offer in FX, which is to hit 6% profit targets and not go below 5% drawdown, then maintain profitability so that the account can be scaled.

What is the time frame within which most prop firms require you to hit 6% profit targets? Is it within 1 year, 6 months, 1 month? Please let me know. Thanks.

Depends on the firm, but assume 6 months -1 year of time allowed to pass a challenge.

Many reputable firms are offering unlimited audition time now, including 5ers (where I failed my previous auditions).

Current setup. Pretty good core set I think, however I still need the following features:

- I have an indicator to show the spread in gold numbers (which should filter out pairs with high swap fees). Maybe there is an indicator which shows average spread over time?
- For symbol changing I am using Symbol Changer Profit Display 5.1 (attach/file/3405979). Anyone know if there is a similar indicator has a hotkey switching feature?

Again, I still need a way to filter out pairs which have low liquidity/volume relative to high liquidity pairs such as EUR/USD so that I can avoid high swap fees. It's possible that there is also a relative volume indicator that you can configure a threshold / cutoff for.

Hello friend

I believe you definitely need to concentrate on just a few pairs. Trying to watch 28 pairs with limited chart time will lead to mistakes, IMHO.

Also, focusing on the daily chart and taking all the swap fees that go with holding trades for weeks can be very frustrating and expensive, I know this from experience. The pullbacks on the daily chart can also be quite expensive and can severely limit your lot size. Especially when using proper risk management, as required by prop firms. This may cause your good trades to not produce the profits otherwise gained on lower TF’s that will have smaller SL and higher lot sizes that go with it.

Perhaps you’ve tried lower TF’s in the past and it did not work for you and/or it simply doesn’t fit your style or nature? But if you haven’t given it a go or if you think your skills have improved since then, spend some time on demo with lower TF’s.

Just my 2 cents. Have a great day!

ethica wrote: Tue Oct 03, 2023 10:18 am - I have an indicator to show the spread in gold numbers (which should filter out pairs with high swap fees).

Hi Ethica,

I just thought I'd comment on your quote. You seem to be getting confused with regard to spread and swap fees. An asset's spread does NOT determine its swap fees. As you can see in the example below from my broker IC Markets, USDCHF only has a spread of between 0.6 and 1.4 but THE MOST IMPORTANT factor is in which direction I take the trade!

In MT4 you can check what the swap fees are for each asset and the direction i.e. Long or Short, Take the time to go and check out each asset that you plan to trade and note down the swap fees :-)

Also, do try and trade on the lower timeframes to build up your equity. I trade on the 30min and H1 timeframes. However, if you do like the daily then take 1 trade on the daily and let it run.

If you are time-constrained then possibly trade in whatever session you are able to.

Warmest regards,
BeatlemaniaSA