it's just cumulative data collated from myfxbook
Hanover already re-posted/uploaded his latest content and software: https://www.forexfactory.com/showthread.php?t=915949
and if you think, that man could infringe the law if he diffuses your personal infos like address where you live and so on in public blogs or defame you with name and surname. Theorically he cant do it because European privacy law (GDPR) wherever he is..also in Antarticta!
However let it go...keep on posting without regards on what someone can says. FF is ablog...where everyone is free to follow or not
The Speculative Sentiment Index (SSI) is a proprietary tool offered by FXCM. Many technical indicators, such as moving averages, use past data and in a certain sense look in a backward fashion to understand trends. The SSI, however, analyses current data and is considered a leading indicator, meaning it can often signal a change in market direction before the change happens. The index is published twice a day by FXCM.
https://www.fxcmapps.com/apps/specul...ntiment-index/ = Free
This Indicator is only compatible with FXCM Trading Station Desktop software. Additionally, an FXCM account (Real or Demo) is required.
So easy to see when the EURGBP went through 70 today after a two day pullback.
And not forgetting the EURGBP correlation with the EUR/SGD.
When a method works and it's put out to the trading populace, it won't work for long. The loop will be closed. The reason most HAVE to fail at trading is because it is by design. There MUST be more losers than winners. If it even looks like that isn't the case, the game will go through another change like it did with the algorithmic speed wars. Perhaps the next phase will be professional level FALSE information, maybe we are getting there already.
Agreed SWD; that’s why I worry about this thread. Although I guess only a very small percentage of retail read this, thankfully.
FYI; the RSI2 on both close and hlc3 seems to repaint for me. Obviously that’s owing to the short term nature of it, wonder if this can be mitigated somehow without lagging the indi.
Why do indicators repaint
Because the candle itself repaints. Simple hey.
Contrarian trading has been about since the markets began.
Warren Buffett - George Soros - Jim Rogers have been doing it since they started trading. Does it still work today. YES. Will it work ten years from now. YES!
It will never end because people are naturally stupid and follow the crowd. In every thing in life. (P.S I don't mean you are stupid :-)
The markets are changing. You don't get the big trends now like you used to.. WHY? Because more banks, big institutional traders have turned to Forex instead of the stock market.. Its easy money to them to manipulate you and go do the opposite.
If you where following 100 people on a road and came up to a crossroads and everyone turned left.. You would turn left as well. But what makes them 100 right?
Even though I only read this thread once a day now and don't comment if I can, I just had to answer you.
Thinking outside the box and doing the opposite of what every one else is doing gives you a better chance of success because 90% of time retail traders are wrong.
Look at the daily candle of the EUR/GBP... Has it opened and gone straight up to the level it has today.
NO. It went up, up, down, up, up, up, down, down, down, up, up, up, down, up etc.. It repaints itself.
Edit. WHY? Why has the EUR/GBP momentum stopped? It's hardly moving now and in fact moved down a bit. WHY?
Read another post a few pages back on session correlation.. You would ONLY trade the EUR/GBP in the London session.
What is contrarian thinking?
Contrarian thinking applies to every aspect of business ownership. ... Contrarian thinkers are trailblazers in business. They are the polarizing visionaries who are just as likely to be called crazy as brilliant, and they have the foresight to see hidden opportunities and seize them at just the right moment.
Contrarian Investing: The Top 6 Contrarian Investors of Our Time
Contrarian Trading – What It Is & How to Do It
Seems a little puzzled with UJ. Its more than 70% long and it seems retrace(after 31st May).
How would you deal with such incident... as in, how do you determine to exit or would you stack in more during the pull back.
3rd week of testing trades. Stung on every one so far this week.
Will test again next week and hope this is just the market naturally sometimes moving in the intended direction.
So what happened?
Or it's another trading system which "almost guarantees"?
I am not sure why it hasn’t worked this week, Botan. It’s only my third week of testing the contrarian approach; I wanted to share my honest experience.
I have put real time and money into this; hopefully next week is better!
Although in saying this; I wouldn’t be surprised if there’s a market turnover next week that would allow me to at least break even if not profit on some. Well, that’s if the institutions aren’t allowing temporarily retail profit taking to keep the cash cows primed.
This is the beauty in testing strategies I guess.
i wanted to share an article about contrarian trading. Maybe is different like in this thread but the concept is the same. Contrarian strategy works very good if you trade smart and you do all the things in good way and properly. it doesn't matter how you do it but what it counts is the concept. Be careful, Buffet & Co are contrarian traders...
The article was written by Nial Fuller, we are talking about a professional trader very known in the world that has a trading career background very wide. He is talking about contrarian trading approach. Go to see...
Then there are people that don't believe in contrarian trading and others that believe on this. Ok perfect..free to do it, the important they don't become a pain on the neck.
it can be useful for everybody.
Have u seen the power of myfxbook contrarian edge. hats off neil .
Whole day gbp was strongest and chf weakest. who ever had bought was contertrend (with retail myfxbook). i wait for the whole day like cheetah.
why gbp strength and chf weakness gone. Think of it and that too result are shown intraday only.
My sell ride (contrarian to myfxbook) on gbpchf m15 chart.
good for you! green pips!
Like life some people can and some people can't. Give two people one million Dollars and in a few years one will be rich and the other poor.
This method will work for some and not for others. WHY? You answer it.
How many closed the EUR/GBP trade saying oh this doesn't work when it started to go down. The manipulation to make you either close your buy or make you sell. Then they go and buy it. You just need to find out when they do it. I'm not going to tell you.
Just ignore the psycho's like my troll Francis with his blog and how he unlikes everyone's posts. Just shows you he is a loser.
The EA is nearly ready. It will keep you out of trades even if the BUY is 90%. It will not take a sell until certain conditions exist. Not just the RSI2
I won't show all trades just yet as its still needs improvements. It brought the EUR/USD to perfection. It brought the EUR/GBP again and is up $200 per lot.
How I'm going to give it away for free is still a problem as I don't want just anyone having it like trolls.
I will show the last screenshot not to brag as you will get this EA for free but this is how it has done today........ On some it did go the retail way. With the myfxbook outlook.
You will be able to turn this feature on or off. It uses a rolling stop loss. As London is closing it will close certain orders including the EURGBP.
So the EA can't be shared when you have it I will need somehow to block it so it only works on your account.
Last post for ages... Make my psycho troll happy ;-)
Some moan here why it doesn't work. Work out when do you take the trades. When is it going to go your way. when is it not.
Do you take the trades in the Asian session.. London session or the New York session
LONDON rules the Forex market. Always has and always will.. The power of the United States but it never will rule the Forex market. London does.
Just to prove from London closing I left the trades running on purpose. I turned off the EA so it wouldn't close them before London closed.
Now see what it did.... From the last screen shot to this one. Some are getting near the rolling stop loss.
I would love to receive the EA if you want some testing support Neil? It’s probably something best shared privately amongst those who put effort into this and could contribute?
I have been playing with code on tradingview to set alerts for the RSI2 which I was going to share when done, but that’s not useful comparatively!
Near end of day edit:
Took small profits on usdcad and eurgbp. I can see usdjpy shaping up for profit and will leave that open.
I may have been slightly inconsistent in my approach this week as I’ve been on holiday. Usually I align the contrarian approach with currency strength/weakness analysis too (if retail attempt to call reversals in the opposing direction of a trend and currency s/w it seems powerful). This week I blindly traded off Myfxbook stats as I was by the pool.
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