OK, So I did not trade during the Asian market today and I missed out on the big UP move on the Nikkei and Gold. Sometimes you just need to sleep.
But I did get in on a crappy down move on Gold and it paid out in cherries (Winner Winner, Chicken Dinner).
So if I can do it and hit +7% then so can you. Don't let the dream pass you by, pull the trigger, center mass kill shot, take the prize. You earned it!
Have a wonderful trading day making a boatload of Pip$ again.
Xard777

PS What you bringing to the table for the US session?... Me, I'm bringing "HOUSE MONEY"

xard777 wrote: Mon May 20, 2024 9:37 pm OK, So I did not trade during the Asian market today and I missed out on the big UP move on the Nikkei and Gold. Sometimes you just need to sleep.
But I did get in on a crappy down move on Gold and it paid out in cherries (Winner Winner, Chicken Dinner).
So if I can do it and hit +7% then so can you. Don't let the dream pass you by, pull the trigger, center mass kill shot, take the prize. You earned it!
Have a wonderful trading day making a boatload of Pip$ again.
Xard777

PS What you bringing to the table for the US session?... Me, I'm bringing "HOUSE MONEY"

but was the sell done on open day?
XARD: No 1 Rule: Don't be greedy, no.

xard777 wrote: Mon May 20, 2024 3:53 am Here is XU v015-Setup for everyone's perusal.

While you download this version please take the time to consider this...

I've repeatedly emphasized this throughout this thread: don't be too greedy, have a plan, and stick to it. Reverse engineer everything and break it down into manageable, bite-sized steps.

Start with a five-year plan of day trading without risking too much initially. Whether your initial capital is $1,000, $10,000, or even $100,000, I recommend using only 10% of it as your starting fund. The money will start to flow once you've achieved sustainability; until then, only risk 10% of your capital.

Now that you have your starting fund, let's move on to reverse engineering. What can you comfortably achieve in a day/week, trading every day? Consider realistic targets like 3%, 5%, or 7%. Avoid over-trading and giving back your hard-earned profits.

Remember, your growth is calculated by starting fund times (1 + daily/weekly percentage growth) raised to the power of the number of trading days/weeks that you put in.

For example:
- **Starting Fund**: $100
- **Daily Percentage Growth**: 3% (or 0.03)
- **Number of Trading Days**: 220

Using the formula:
`Starting Fund x (1 + Daily Percentage Growth) ^ Number of Trading Days`
It becomes:
`100 x 1.03 ^ 220 = $66,709.76`

Starting with one hundred dollars, growing it at three percent daily for two hundred and twenty trading days results in sixty-six thousand, seven hundred and nine dollars and seventy-six cents. That folks is one year of your five year trading plan. Go figure.

Keep the bigger picture in mind: your five-year growth potential towards true wealth. Always remember this goal when trading. Stick to trades and markets you are comfortable with, whether it's GBP/JPY, GBP/AUD, Gold, Oil, the Dow, or the Nikkei indices.

Finally, establish a daily routine and adhere to it diligently. Consistency is essential for success in trading. Whatever your trading target is... Daily or weekly percent. Once you hit your target, it's crucial to tell yourself to shut everything down and engage in other activities. This practice is vital as it helps maintain checks and balances in your trading approach and overall mindset.

One last thing, being out of the market is just as important as being in the market. WAITING for that perfect setup, that center mass kill shot, is just as critical. Patience is a virtue in trading, and exercising it can often make the difference between success and failure. Remember, not every moment is an opportunity to trade. Sometimes, the best action is to wait and preserve your capital for the right moment. Stay disciplined, stick to your plan, and always keep the bigger picture in mind.

Enjoy the setup and may you make a boatload of PIp$.
Xard777

Mr. Xard,

With this setup, do you calculate the entry by looking at the 5-minute or 15-minute timeframe?

I really like this compound interest calculator because it provides a breakdown of the profits.... it helps to understand why compound interest is the eighth wonder of the world !

https://www.thecalculatorsite.com/finan ... terest.php

Have fun, fellow traders!

xard777 wrote: Mon May 20, 2024 3:53 am Here is XU v015-Setup for everyone's perusal.

While you download this version please take the time to consider this...

I've repeatedly emphasized this throughout this thread: don't be too greedy, have a plan, and stick to it. Reverse engineer everything and break it down into manageable, bite-sized steps.

Start with a five-year plan of day trading without risking too much initially. Whether your initial capital is $1,000, $10,000, or even $100,000, I recommend using only 10% of it as your starting fund. The money will start to flow once you've achieved sustainability; until then, only risk 10% of your capital.

Now that you have your starting fund, let's move on to reverse engineering. What can you comfortably achieve in a day/week, trading every day? Consider realistic targets like 3%, 5%, or 7%. Avoid over-trading and giving back your hard-earned profits.

Remember, your growth is calculated by starting fund times (1 + daily/weekly percentage growth) raised to the power of the number of trading days/weeks that you put in.

For example:
- **Starting Fund**: $100
- **Daily Percentage Growth**: 3% (or 0.03)
- **Number of Trading Days**: 220

Using the formula:
`Starting Fund x (1 + Daily Percentage Growth) ^ Number of Trading Days`
It becomes:
`100 x 1.03 ^ 220 = $66,709.76`

Starting with one hundred dollars, growing it at three percent daily for two hundred and twenty trading days results in sixty-six thousand, seven hundred and nine dollars and seventy-six cents. That folks is one year of your five year trading plan. Go figure.

Keep the bigger picture in mind: your five-year growth potential towards true wealth. Always remember this goal when trading. Stick to trades and markets you are comfortable with, whether it's GBP/JPY, GBP/AUD, Gold, Oil, the Dow, or the Nikkei indices.

Finally, establish a daily routine and adhere to it diligently. Consistency is essential for success in trading. Whatever your trading target is... Daily or weekly percent. Once you hit your target, it's crucial to tell yourself to shut everything down and engage in other activities. This practice is vital as it helps maintain checks and balances in your trading approach and overall mindset.

One last thing, being out of the market is just as important as being in the market. WAITING for that perfect setup, that center mass kill shot, is just as critical. Patience is a virtue in trading, and exercising it can often make the difference between success and failure. Remember, not every moment is an opportunity to trade. Sometimes, the best action is to wait and preserve your capital for the right moment. Stay disciplined, stick to your plan, and always keep the bigger picture in mind.

Enjoy the setup and may you make a boatload of PIp$.
Xard777

Hello xard777,

Thank you for the latest update, is simply amazing.
And have a wonderful week for you, and for the people are following this thread.
XARD: Nice

Re: Forthcoming AI advances.

The imminent release of Chat GPT-5 is projected to eliminate approximately 100 million jobs, with government estimates indicating a seven-year transition period, impacting around 3% of the global workforce. I see this prediction as a harbinger of significant market and economic shifts. The rapid pace of technological advancements necessitates a deeper understanding of the broader implications, especially with the potential release of Chat GPT-6 just a year following GPT-5.

Firstly, the acceleration of job displacement could lead to unprecedented market volatility. Investors and traders need to be acutely aware of sectors that are most vulnerable to automation and AI integration. Industries such as customer service, manufacturing, and certain administrative roles could see a quicker adoption of AI, leading to sharper job losses. This means reevaluating investment portfolios, focusing on sectors poised for growth amidst technological disruption, such as AI development, cybersecurity, and education for re-skilling.

How significant will the job losses be with the advent of Chat GPT-6, and what will the transition timeline look like? The job market may not have sufficient time to stabilize from the effects of GPT-5 before GPT-6 introduces another wave of displacement. This compounds the need for agile and adaptive trading strategies to capitalize on short-term opportunities while hedging against potential downturns.

Furthermore, the economic implications of a shrinking workforce cannot be ignored. Governments will struggle with a reduced tax base, potentially leading to budgetary deficits. This fiscal pressure could compel governments to adopt digital currencies, providing them more control and flexibility in managing monetary policy (see side-note). Digital currencies could facilitate easier distribution of unemployment benefits and support social welfare programs like housing and food subsidies for migrants.

For traders, this shift to digital currencies could open new avenues for investment, but also introduce new risks. Monitoring government policies on digital currencies and understanding their impact on traditional financial systems will be crucial. Additionally, the shift might spur innovations in fintech, offering fresh opportunities for trading and investment.

In conclusion, the landscape we are facing with the imminent release of Chat GPT-5 and the potential arrival of GPT-6 requires a multifaceted approach. It is essential to stay informed about technological advancements, government policy shifts, and market trends. By employing adaptive trading strategies, focusing on resilient and growth-oriented sectors, and understanding the broader economic implications, we can navigate this dynamic environment effectively. This approach not only safeguards investments but also positions us to seize new opportunities arising from this rapidly evolving technological landscape.

side-note.. If you think gov fudge the numbers now, just wait until digital currency kicks in.
Xard777

Re: MT4 Longivity & MT5 Adoption

MT4 (MetaTrader 4) has indeed been out for quite some time now, having been released in 2005. Despite the release of MT5 (MetaTrader 5) in 2010, MT4 has shown remarkable longevity and resilience in the trading community. Let’s break it down for clarity:

### 1. **Longevity of MT4:**
- **User Base:** MT4 continues to have a strong and loyal user base even more than a decade after its release. This longevity is primarily due to its robust, user-friendly interface and a rich ecosystem of Expert Advisors (EAs), indicators, and scripts developed by a vast community.
- **Support:** While MetaQuotes, the company behind MetaTrader, officially ended support for MT4 in 2018 to encourage migration to MT5, many brokers still offer MT4 due to its popularity.
- **Functional Specialization:** MT4 has cemented its place, especially among retail forex traders, due to its simplicity and efficiency for forex trading.

### 2. **Adoption and Transition to MT5:**
- **Slow Adoption:** The adoption of MT5 has been relatively slow compared to MT4. Several factors contributed to this:
- **Compatibility Issues:** Many traders and developers invested significant time and resources in MT4 and were reluctant to transition due to compatibility issues with existing EAs and custom indicators.
- **Education and Training:** The community, educators, and brokers heavily invested in MT4 training materials, further creating inertia against switching to MT5.
- **Enhanced Features of MT5:** MT5 is a multi-asset platform that supports not only forex trading but also trading in stocks, commodities, and futures. It has advanced features like a built-in economic calendar, improved charting tools, and a depth-of-market feature, which make it appealing for more experienced traders.

### 3. **Market Preferences:**
- **MT4 for Forex Traders:** If your primary focus is forex trading and you rely on existing EAs and custom indicators, MT4 remains a solid choice.
- **MT5 for Diverse Strategies:** If you require more advanced trading tools, support for additional asset classes, or are developing new trading systems from scratch, MT5 may be more suitable.

### 4. **Broker Support:**
- Many brokers continue to support both MT4 and MT5, allowing traders to choose based on their preferences and needs. Some brokers also provide incentives for traders to transition to MT5, highlighting its superior features.

### Conclusion
In summary, while MT4’s official support by MetaQuotes has ended, its use is still widespread due to its simplicity, reliability, and extensive community support. MT5 adoption has been growing, particularly among those looking for advanced trading capabilities and multi-asset trading. The decision to use MT4 or MT5 often comes down to the trader’s specific needs, existing investments in trading tools, and the type of assets they trade.

Ultimately, both platforms offer robust solutions, and the choice largely depends on individual trading strategies and preferences.
Personally, I will continue to use MT4 for all my trading needs until brokers no longer support it. Then, I will have no choice but to adopt MT5 and convert my setup to the MT5 platform. Hopefully, we still have a few more years of fun trading MT4.
Xard777

xard777 wrote: Tue May 21, 2024 3:11 am

seems like all the Ea's are mt4 and mt5 exclusive
haven't seen any acclaimed good Ea's on anything else either
manual trading forever

xard777 wrote: Mon May 20, 2024 3:53 am Here is XU v015-Setup for everyone's perusal.

Xard777

Hello everyone.
The package is missing one indicator. Therefore, after uploading the template, there is one inactive element. from News reader.
All you need to do is add XU-v015 to the folder, add an indicator to the chart and save the template again.

The XU-v015 version is great, thank you very much XARD
best regards
stond

XARD: OOps! My Bad, that was me having a senior moment. Thanks stond for the update.

stond wrote: Mon May 20, 2024 8:08 pm Hi,
try this Panel_1
I processed it for myself.

stond

Thank you!

I have the same problem with panel2. Do you have the mq4 version? Unfortunately, with my broker, I need to correct other indices as well. I don't want to bother Xard for these minor issues.

Thanks anyway.