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Re: CAN WE ACTUALLY Making Money in Forex????????

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naluvs01 wrote: Thu Aug 06, 2020 12:41 am Hi Everyone,

I started this post and would like to say I have found a way to make constant profits every week. I'm sharing this because I promised to and for anyone in the future struggling will find their way. This is for the 4H chart, but the same concept can be used for smaller timeframes. However, their will be greater noise. Number one, I want to point out that all strategies work with this concept: MACD, ADX, 2 MA Crossover, etc. The problem with trading forex is you can't look at one pair...It's Suicide!!!!!. But you must compare all currencies against each other. And I have found no Currency Strength Meter (CSM) to reveal this consistently.

The process: I profile all currencies against each other on the daily and/or weekly (this determines trend direction). I use a Zero Lag HMA (from this site) set to 20 (div 2.0) which determines the prevailing trend; Half-Trend because is acts a floating S/R; a MTF Hi-Lo indicator that shows the previous week Hi and Lo; a TDI-ish concept for range (RSI 10 - Ema 1, EMA 7 & BB 34/3); I use RSIx3 (indicator on this site) set to close - periods 2, 3 & 5. Or you can use 3 RSIs. This reveals when the moves are being made. I also make sure I'm not buying near an S & R level. Once you compare the currencies, you get a true idea of what currencies are stronger/weaker. I also reverse the hull color when the profile currency is in second place like the JPY pairs. This keeps uniformity.

Next, I registered for a demo account with Liteforex for their index charts (you can also find a similar indicator on FF by mathtrader7 (I WISH WE HAD ONE HERE...hint, hint). This gives me a snap shot of the entire market profile on one screen. I use the HMA, TDI-ish setup and RSIx3 here as well on the 4hr and Daily. The most important thing is to ONLY trade in the direction of the daily. Your entries (on whatever strategy you choose) should be after the Daily pair OR index chart is already in place. For instance, for me, the HMA has to be white/black on the daily (remember either on the index or your main broker chart) in order for me to buy/sell. Below are examples of profiling by my main broker and index charts. I hope this helps everyone. I've been receiving 500 - 1000 pips weekly using this concept. This is a way of me giving back to F-S community. You guys have really helped me especially the coders: Mr. Tools, Jimmy, Mladen, Pacios and others. Thanks you all and may your dreams become a reality!!!
When you said "I've been receiving 500 - 1000 pips weekly using this concept." Did you mean results from backtesting or results from Live trading?


Re: CAN WE ACTUALLY Making Money in Forex????????

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mystylez007 wrote: Wed Nov 18, 2020 10:43 am

When you said "I've been receiving 500 - 1000 pips weekly using this concept." Did you mean results from backtesting or results from Live trading?
I've been testing demo. I've actually switched indicators. I've scaled down a bit. I use the cumulative volume (CV) to confirm entries (the one here has a MA I set to 2), the ADX (2) and the delta indicator (default), also here. My rules consist of the ADX cross, with confirmed volume from the CV and the delta indicator MAs must be in alignment. Meaning the orange MA is above the black MA for a buy and reverse for a sell. Oh and price should be above the channel. In this example, it's a 5 EMA channel (Hi/HLC3/Low).

Re: CAN WE ACTUALLY Making Money in Forex????????

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naluvs01 wrote: Wed Nov 18, 2020 10:54 am
I've been testing demo. I've actually switched indicators. I've scaled down a bit. I use the cumulative volume (CV) to confirm entries (the one here has a MA I set to 2), the ADX (2) and the delta indicator (default), also here. My rules consist of the ADX cross, with confirmed volume from the CV and the delta indicator MAs must be in alignment. Meaning the orange MA is above the black MA for a buy and reverse for a sell. Oh and price should be above the channel. In this example, it's a 5 EMA channel (Hi/HLC3/Low).
Which begs the question -- Why would there be a need to have a 180 degree change in indicator use if the previous "system" gave you good pip profit expectancy already?

I don't mean this in any way that's condescending or critic. I'm here to learn and I was honestly interested in your system, however, I think everyone would agree with me that once a good-enough system is formed, you shouldn't be changing things around too much in the system, else it becomes ineffective. You can tweak and be discretionary but not change the whole thing altogether.

Happy pips to you.

Re: CAN WE ACTUALLY Making Money in Forex????????

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mystylez007 wrote: Wed Nov 18, 2020 3:20 pm

Which begs the question -- Why would there be a need to have a 180 degree change in indicator use if the previous "system" gave you good pip profit expectancy already?

I don't mean this in any way that's condescending or critic. I'm here to learn and I was honestly interested in your system, however, I think everyone would agree with me that once a good-enough system is formed, you shouldn't be changing things around too much in the system, else it becomes ineffective. You can tweak and be discretionary but not change the whole thing altogether.

Happy pips to you.
No problem with your response. I've put a lot of hours trying to figure out the right combinations. I've put together a system that alerts me via push so I know when and where to look for a trade. The new indicators give me the same info with less alerts. I've tried both systems and the results are pretty much the same without addition alerts every 4 hours.


Re: CAN WE ACTUALLY Making Money in Forex????????

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My own Algo. I use the indices as my direction. Under VPs instructions, you set it up based on indicators which is fine, but you don't know why price is moving. The indices represents a mathematical formula that compares 1 currency against the other 7 (more or less). So if two currencies are strong, you don't want to against them. You increase your probability by trading weak against strong. Even if you complete your algo, incorporating indices can confirm your trades.

Is it perfect, no. But it sure helps avoid bad trades. In a nutshell, I developed my algo, backtested it and placed it on the indices. When they align, I trade. This concept helps me know when and where to trade. And no matter what your strategy is, using this concept WILL improve your trade results. I think looking at 2 pairs doesn't give you enough information or tell the whole story. The only thing that helps is looking at the daily TF (like VP states) because it gives a larger foot print on the directional bias. But, you can still lose trading the on the daily TF. That's why the indices can help...

Re: CAN WE ACTUALLY Making Money in Forex????????

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Maximiliano wrote: Sat Dec 12, 2020 7:33 pm "The main reason there are always new traders joining Forex is to make an extra income. Traders dedicate their time to learn and build their skills towards Forex, so in return, they are profitable.

Some succeed with significant profits after a few years, few fail and give up on trading. It all depends on the level of focus you have put in Forex."
That's right! The market has a lot to give, but it all varies on how prepared and focused the trader is. Those who put in extra efforts and explore the markets well. will win, others usually quit.

Re: CAN WE ACTUALLY Making Money in Forex????????

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Hi Everyone,

I can now answer my question due to me maturing and understanding the Market a little better now. As promised, I would reveal a methodology that has helped me trade more consistently than ever before. In short, the ONLY way to confirm your entry (IMO) is via strength and weakness utilizing currency baskets. For a detailed explanation, please look at my post regarding Bitcoin going down...

If anyone incorporates this strategy, then ALL of your strategies WORK! I've spent 100s of hours with indicators, patterns, news, watching FX youtube vids, trying to determine where price will go. In my opinion, it's all crap! There are instances where the news is great and you buy...you still lose! The news is bad and you sell...you still lose! There is no news...you still lose!
The one thing I have found to be consistent ALWAYS is currency baskets' strength and weakness. I hope this helps anyone who was struggling like me and Happy Trading to all!

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