Hello i don't know if you are going to see my answear but there is a Youtube channel that put all the knowldge about Forex without BS its name NO NONSENSE FOREXnaluvs01 wrote: ↑Sat Nov 23, 2019 2:06 amHi Everyone,
I've been backtesting with my Algo and decided the Daily TF is the best for me to avoid most of the banks' manipulation/foolishness. Because they can see all of retail traders' positions, they just flip the switch and take price the other way (see attached chart). When I search for successful forex trades, some names come up like Anton Krill, Jarret Davis, George Soros, Bill Lipschutz, etc. However, they were institutional traders and had access to information quickly that cost hundreds of dollars a month. So, my question is does anyone here ACTUALLY make money, full-time in the Forex market and what advice can you share to help us get there?
The reason I ask is because I'm a Realtor and own a few homes and was looking for a another way to earn passive income so when I retire from Real Estate, I can make consistent money in my golden years. But after almost two years of trading (live and demo), it seems impossible to consistently win. I have excellent money management skills and I have never blown up my original account or added money to it. However, trying to grow it seems impossible. For the record, my money management strategy is as follows: calculate your risk amount and divide it by your SL to reveal your lot size. For example, if you are willing to risk $40 (or whatever your percentage amount - I currently don't risk more than 1%) and your SL is 112 pips; divide $40 by 112 and that gives your your lot size ($.40 rounded up). So if the trade goes against you, it's $40 only. This has saved my account many times over.
If anyone is willing to show or reveal their strategy, that would be awesome! As for me, I've been using a 5EMA averages indicator, two MTF Pivots indicators one set on Daily and the other on Monthly, and Two OBV MTF histo indicators set on Weekly and Monthly (by the way, I want to thank MrTools, Mladen and coders for their extraordinary work!). I use the ATR to set targets once I enter a trade because it ensures a high probable trade. So far I'm seeing consistence results in backtesting and forward testing (somewhat), but the banks just keep switching things up regardless if there is news or not.
Also, people keep ranting that it's very hard and you have to put in hours and years to get it. I kind of disagree to a certain degree and here's why. If Michael Jordan or Steph Curry taught you their regimen on how they play basketball to be successful, you would get better over time because you have the structure and formula. Now it doesn't mean you will be them at all, but you would become a better/best you. Their instructions would save you countless hours of you trying to figure out how to play the game on your own. However, even with their instructions, you would still need to put in the work to develop your game and build up your muscles and mental capacity to compete on the court. But Forex is not that complicated in my opinion. I guess what I'm really asking for is if someone would kindly share their instructions to help us become our better selves in the Forex market. I have put in the long hours, studied tons of indicators, read forums, invested in courses (many of them are pure BS and you can find the info for free on google) and I'm not afraid to continue to work hard and study until I succeed! But, I want to make sure that I have the right regimen/instruction/formula to be successful in this market. So I'm asking for the Steph Curry's, Michael Jordan's, etc. of Forex-Station.com to help us in anyway you can!
I Thank you in Advance for your knowledge and wisdom you are willing to share...Happy Trading to all!!!!!!!!!!!
Definig the TP with the ATR is his strategy, Go chekc his channel thank me later https://www.youtube.com/channel/UCc8IRY ... baQFnd2b-A