High Level Accuracy Method With Little To NO Draw-down
Greetings Ladies & Gents,
I've been trading for almost 30 years. I'm going to show you some stuff that's going to blow your mind away... but first... Let's get some stuff about me out of the way...
It's been a fun, and a scary journey Trading Currencies. Google never existed 30 years ago. I had the pleasure to use AOL and Yahoo! Search engine, all from a 56Kbps modem. So you could imagine finding resources to learn from was scarce (minimal) at its best. All I had to learn from was OLD Stock Trading images and reverse engineer the Technical Analysis Tools as we see today such as the RSI, Momentum, Moving Averages, etc, I would spend up to 18 hours a day studying. Some days longer. 7 days a week for YEARS AND YEARS!
I'm very analytical / thorough in my thinking, Mathematics is my forte and pattern recognition is what has helped me basically know all there is about Trading successfully - ALL of what I'm about to show you can work on any Compression (Time Frame), as well as Stocks, Equities, Commodities, Futures - you name it, anything that has a chart attached to it, it will work...
I do not expect everyone to have these traits (abilities) and if you're a person who doesn't, do not worry yourself. This can be learned quickly - I have a knack of shorting that learning curve - IF you put the time in!
Oanda was the first platform I physically practiced on in 1995 before moving to FXCM in 1999, which I later left as MT4 (MetaQuotes) came on board in 2002.
For MANY years I used technical analysis tools as I have previously mentioned. It wasn't until my 10th year into Trading Currencies I took on a whole new world of Analysis. Pure Price Action with Japanese Candles & Bar Chart Trading. It blew my mind away and I have never looked back since - it's VERY, VERY rare I would use any Oscillating Analysis tools like the RSI, Moving Averages, etc, and you will see why as I illustrate how awesome these very kept closed to the public secrets are.
There are literally over 100 highly laser focused Advanced Price Action approaches I have mastered, some though my own findings and others who I have had the pleasure to personally meet in person - mostly Floor Traders & Market Makers. However, in this document I will provide just 2 of them.
Let's get the dirty stuff out of the way first.
I am not in any way affiliated with Forex Factory dot com. They have NOT paid me to be here. I am here at my own free will - I like to spend these boring days mingling with Day Traders alike and help guide newbies where I can from making mistakes from people who still think they know how to trade properly - aside from the Trolls you see here from time to time which has given FF a bad name in my opinion - there should be MILLIONS of people here, not a fraction of the 500K that are currently members.
My hopes is that we can change that, maybe these Trolls who just make people's life worse due to their own unsuccessful attempts to make them feel happier is to bring you down to their level. Please, just IGNORE them. Concentrate on you! Be the best you can. And most of all, be polite to those who are helping you. And NEVER GIVE UP! Quitters Never Win and Winners never quit!
I am also NOT here to sell anything. I do have my own Forex Training Businesses, and I will not supply you any links, and you will not find them on search engines by searching for FXCyborg either. And I am not going to give you my name, you can call me "Mr. X", if you have to.
I will ask you to take my words lightly in the terms of how my attitude may come across to you - I type 120-150 words a minute and I hardly go back to re-read what I type - so this note is an advanced apology if I may come across wrong - I mean no disrespect.
I am NOT Arrogant - people mistake that for CONFIDENCE - which I have LOTS of and you need confidence when you're Day Trading too. I am NOT an Egotistical Narcissist either - I could care less if you like me or not. I just want you to WIN in this ugly market / world we live in as Day Traders. When I heard for the first time how Market Makers make their money. I was livid! So now I'm going to show you TWO very powerful approaches that anyone can do, using nothing but PRICE ACTION!!! No Indicators - so throw them away!
I am NOT here to compete with anyone. Each person has their own way of trading. OK sure, I may chime in and help add more insight as to what people here and elsewhere should be looking out for, or correcting their terminology which has been skewed/altered over the years. Or how to draw trend lines in properly, or how to use the Fibonacci correctly... I'm a perfectionist by heart - I treat this very seriously - it's what I do and I'm REALLY good at it.
I don't want to sound like some dickhead who can't even get the terminology correct. If I'm going to remain ignorant on the simplest things as saying terminology correctly, I would stand no chance in building my career as an Advanced Price Action Day Trading Professional. And neither will any of you - I'm not sure what your overall goal is Trading the Forex - But let me just say there is no Holy Grail and if you try to rush this and mess up your money & risk management or if you don't focus, you will lose. That much I can guarantee. But I can NOT guarantee you will be successful, or if you pull off 100-200-300% weeks as I have done and still to this day do. Not by over leveraging my account, but by HTF (High Frequency Trading - performing MANY trades per day over a course of 4-10 hours).
If you want help, ASK by replying to the Forum thread / Post I made. Show your images and it will be my pleasure to assist you.
I know the there is an old saying: "You can't teach an old Dog new tricks", well... that's complete and utter bollocks (Bulls**t / Rubbish). Please don't have the attitude that you know better than anyone else. I did, and it didn't get me that far. But now, I'm so far up that ladder it's hard to find a fault. I'm not saying I'm free from any faults because that would be a total lie. I know where my faults are. And I know I still have more to learn & master. I will always have my eyes and ears open just in case I do find another perspective I could use and adopt.
WHY AM I HERE?
I've been on Forex Factory LONGER than what it says on my Profile (Nov 2014). I was one of the very first people to be on FF. But I left because of the Trolling going on. When I was new here, I just like you came to learn something new and when I perfected it I wanted to share - that's when the Trolls came in to attack me. I left and never came back for years. When I did come back for a 2nd time, you guessed it, the Trolls came out of their wood works. So, I left again.
I think in hindsight this was a God send. It sent me a massive message that I should stay well away not just from this forum, but all Forex Related Forums - It took away the important time I needed to not only focus on my perfecting Price Action recognition and the Tools that came with Trading Stations/Platforms, but to focus on myself. To truly tune in on my instincts and learn how to read them.
I was almost convinced that Forex was a Scam. I mean, how many times would my SL's get hit? Too many to mention. It was like as if someone was looking over my shoulder ready to stop me out. I was beyond annoyed. I was starting to develop a complex. Was I really ready for this? Is it really for me? Is it really this difficult as it appeared to be based on previous experience of losing all the time? It cost me a fortune in the mid 6 figures I had lost and still had no way of breaking even. Not even close. Looking for a Job came to mind many times.
BUT NO! I stuck it out. Roll on 30 years I'm kicking butt and taking names. And I want to share with you two very powerful techniques that you can apply right now. It does NOT matter how much experience you have. If you were a person who just found out about Forex, you can do this too. You just need to use some common sense, follow instructions and most of all, PRACTICE on a DEMO ACCOUNT (Live Simulated Platform - Virtual Practice Money). And don't be afraid to ask questions.
UNITED WE ARE STRONGER!
As a Community, I would like you to help others if they ask questions (Only if you're sure you know the answer). This is a Global Speaking Forum; the forum is open 24 / 7. I cannot be here all the time. And I do have a life too. It's my wish that you all be kind to each other and help each other move up that ladder of success and finally beat the brokers at their own game and make money together.
I do also ask, don't rely on anyone but yourself when it comes to placing a trade. You have to understand why it is you are placing that trade you are going after. And you do so at your own risk. And if you mess up you only have yourself to blame. Not me, or anyone else who has mastered what I'm going to show you. This is why it is VERY important you PRACTICE on your demo account.
Use a $1,000 Demo account, do not open a $10,000 or a $100,000 demo account, that's not your reality (even if it is, start low). Heck, if $1,000 is out of your comfy zone when you are prepared to go Live, open a $500 demo account (enter $500 in the box instead of choosing one from the drop-down menu, if you are able to).
Quadruple your demo account first, once you have done this with 90% success rate it may be time for you to consider to open a live account. To start with, and if the Broker allows it deposit $100 or $200 to begin with. You may lose this amount the first time. Trading is not just about understanding how price moves and perfecting a pretty powerful price action approach, but it's about how you can deal with and come up from the ashes when you experience adversity and the adrenaline rush that comes with trading real live cash. Once you master that, the worlds your Oyster and that's when life really starts - it's a real nice feeling when you can start printing your own cheques / Checks at will.
One day, you will get there... Again, don't give up. If you find yourself struggling. Take a day off. Listen to music while Trading, drink plenty of water, eat plenty during the day to keep those energy levels up. Rest some more if need be. And most of all, double check your work/analysis before pulling the trigger with sensible Risk & Money Management.
TRANSLATING THIS DOCUMENT TO OTHER LANGUAGES
Since we have many people from all over the world. If English is not your native language and if you wouldn't mind, kindly download this document and translate it into your native language - this will help reduce any misunderstandings of what I'm trying to illustrate. Once you have done so, please upload it to Dropbox, or some free file storage website and I'll download it and I'll edit the post and add to this post.
Thanks so much!
GIVE CREDIT WHERE ITS DUE!
This is for educational purposes only. At no time are you allowed to use this and pass it off as your own. Or sell it. If anyone is found doing this. I will contact the customer and demand that they get a refund and or perform a charge back and re-direct them to this thread.
I own the rights to this material and it's FREE! And it should remain that way!
SHOW THE LOVE!
At the bottom right hand corner of every post here on FF, there's a Thumbs UP icon... Give it a click! to anyone who has helped you or made a post. Help build other people's confidence, it makes a huge difference in their and your performance. And subscribe to their FF profile too, click their username, you'll find the word "Subscribe" - give that a click too, so when they do make a reply here showing their work, you will be notified!
On that note... Let's kick some butt!
Good luck everyone!
GUIDELINES/RULES OF THIS THREAD
1. No Trolling. Don't ruin this for everyone else. Just because the Troll is unable to see sense or is having a hard time understanding to make PIPS in the Markets, does not mean it does not work. Keep those lame thoughts to yourself. There are others here who want to learn. Don't ruin it for them. Listen. Trolls or not. I will help you, just put the effort in and I will help you become less frustrated with a very easy concept to master.
POSTING YOUR EXAMPLES
2. A lot of you (thx by the way for submitting your examples) are not posting the charts in the SAME manner as I have. Look at how clean my chart is. Look at how clean the labels are. When you're posting your examples, label them as I have as if you were teaching me how to do it. This will allow me to see where your view point is coming from and allow others to view and understand your setup examples.
Any examples that are not posted in the same manner as mine, will be ignored.
KEEP THREAD ON TOPIC
3. If I see any posts that are not on topic they will be set to IGNORE. So If you see a bunch of posts that have been hidden. It's not because they were rude, or alike, though some have been. The ignore is being used to keep the thread clean. This thread should be covered in IMAGE EXAMPLES, not text on their own.
I have received countless PM's here on FF asking that those of you who are posting is to follow the guidelines in the method shown to the letter. And not to go off topic asking about indicators, time frames, etc. All that you need to know is contained in these images - and this page. DO NOT OVER COMPLICATE THIS... Granted you may feel your questions are necessary and related, but 90% of them here are not. The line I go over where I feel they are not, is if people are not posting images of their back-testing or forward testing examples. If a person comes back and replies to such post asking them how they found it, that's acceptable.. but to go off on a different note not related, is not acceptable.
So stay on topic, post your back-testing and forward testing examples as you found them. The more of you who do this, not only will allow you and everyone else to learn this method easily and quite quickly, it'll turn into a sentiment thread, a heads up on up and coming - real time setups that we can talk about.
EUR/USD Compression - Advanced Supply & Demand
~~~ Side Note ~~~
Know your trend bias - is the trend going up, or down? If it's going down, we're looking for sells and vice versa - IDEALLY!!!
~~~ End Side Note ~~~
I've named these images as 01, 02, etc these are the order in which you should view them. If you set your FF settings to have images show up in a light-box rather than a new window, it might be more convenient to view them?
SELL / SHORT Pending Orders and or Instant Market Orders
What we are looking for is an area where price has accumulated orders. Essentially were price was not really making any significant highs or lows - basically going sideways from a standing view point. These are more easily identified on 1 & 5 M Compression (Time Frames)
Once we have found / identified this area we are looking for a revisit back to that zone - it must revisit back to this zone in short order (come back reasonably quick) - if it takes far too long to come back to that area it's generally best to ignore the setup.
In this accumulation zone where orders are being created, we're looking for two BULL candles of reasonable / healthy body sizes (ideally body sizes should be almost the same size) going in the same direction followed by a 3rd Candle, a BEAR bar creating an engulfing pattern.
When you find this setup WITHIN that accumulation zone, place a box (Or draw in a horizontal trend line) starting from the CLOSE of the 1st BULL bar and the OPEN of the 2nd BULL bar and extend the box (Or draw in a horizontal trend line) to the highest wick out of the 3-bar formation. Remember, the 3rd Bar is our Engulfing Bar and it will be the opposite type, in this case, a BEAR Bar. It's close must close Below the Open of the 2nd Bull Bar's Close.
Place your pending order, or execute an instant market order (real time execution) at the bottom of the box / horizontal trend line and place your SL above the box / upper horizontal trend line by 2-5 pips (experiment with it) ... You do not need to go any higher than this for your SL (Stop Loss) for 1 min TF's.
R:R (Reward to Risk ratio) will be anywhere between 3 to 50 to 1 reward of your risk! I know, sick/crazy right? And people wonder who I manage 100%+ weeks!
PLACING YOUR TP's (Take Profit Levels).
Here's the easiest part.
Locate the previous structural Low. Locate the closes/open of those two bars that forms that structural low and put your TP there.
REPEAT & SPIN - & KICK BUTT!
BUY / LONG Pending Orders and or Instant Market Orders
It's the opposite of what we do for SELL/SHORT Trade setups.
Identify the accumulation. Locate the 3-bar setup WITHIN that zone. Place your box or horizontal trend line on the CLOSE of the 1st BEAR bar and the OPEN of the 2nd BEAR bar. Drag your Box (or add your horizontal trend line) to the lowest wick of the 3-bar setup. The 3rd Bar, the Bullish Engulfing Bar must close higher than the 2nd Bear Bar's Open.
Wait for a revisit to this area we just drew in. And execute a pending order, or wait and execute a real time market order at the top of the box / trend line. Place your Stop Loss below of the box / horizontal trend line by 2 - 5 pips!
PLACING YOUR TP's (Take Profit Levels).
Here's the easiest part.
Locate the previous structural high. Locate the closes/open of those two bars that forms that structural high and put your TP there.
REPEAT & SPIN - & KICK BUTT!
THE SIMPLEST METHODS ARE THE BEST ONES!
BTW, there are opportunities to take on if these levels are missed / does not reach our desired low draw down entries... But these will do you for now.
I hope you enjoyed this!
Submit your images of any back testing or live forward images (before the revisit happens) and I will help you and or confirm if it’s done correctly!
Yes you can do this on any time frame.... I've only provided up to the 30 min compression/time frame
Yes there are Forex Cyborg mentions out there.. BUT THESE ARE NOT ME! YOU WILL NOT FIND MY STUFF OUT THERE UNDER ANY TYPE OF NAME OR SIMILAR - SO DONT GO OUT THERE THINKING THIS IS ME TO LEARN MORE! What I am showing you here will set you up for good!
Hi @okshop - thanks for taking the plunge
May I ask that you screenshot your chart in the same manner as I have.. I have no idea what time frame you are on, or what is to the left...
Please mimic exactly as I have done, then it will help me better to assist you
Edit your post and remove the image and upload a new one
Here is the setup... however, Bull bar #2 is not of the same or near body size as Bull Bar #1
You have to remember, the area you drew in on the far right has no bearish engulfing pattern formed and the two recent Bull bars are not of same or near body sizes.
I hope this image below helps?
Having saying all that, the pin bar next to the setup was triggered
There's a huge gap there, this needs to be filled (at some stage)... so this can go one of two ways... 1) trigger the gap and close below it then head up to the imperfect setup. 2) Trigger the imperfect setup and then drop to close below the gap.
I do nearly the same in my charts, but without hanging to much on specific candle formations. I do not care about, because if i have a touch of my pending order it is not from interest in what manner the pending was activated., as long as i have my setup filled. We can see chart over and over again from many corners and can interpret it different every time we take a second look. Wish you all the best with your thread and enough power to post further.
Fair enough mate, but what I'm showing you is how to get on the same side as the Banks and Market Makers... this is why my DD are so LOW... How often are your DD's less than 1 pip? mine is around 85-95% of the time.
So while you are sitting there not caring about candle formations and applying your say, 2% risk.. and if I had the same balance as you, I can set a higher lot size with high accuracy and double my account before you've even made 5%.
That's all I'm trying to say!
IF it were me sitting in your shoes... I would not leave that money on the table, after all, there is over 5 trillion per day to be grabbed
But hey, it's up to you.
Best of luck anyway and thanks kindly for your post
If you don't want to be constructive here, you can troll else where, there's plenty more threads you can do that.
Since i am a junior member, i cant click the thumbs up, this is my very first post and reply in this forum, and i will use it to thank you for your nice thread. Will do your method, hope i can improve the way i put SL. Again, thank you!
p/s = also at how many bars after setup if not trigger order should we void the order ?
No, that level is now invalid, orders were collected.
HOWEVER - please refer to the image I posted in the initial post. Find the one where there is 4 touches. Look at how close each candle is that triggers that line. Bulls and Bears were fighting in real time.
What we have to understand here, is that once these levels have been hit/triggered and some time passes, the Banks and MM'ers care less about that level now, as you depict from my image above. They are now looking for new / FRESH liquidy levels.
We could take these on. BUT... we are taking on high precision entries that have high probabilities of working out in our favor. Once you start to think like a MM'er, you'll be on their gravy train before the train departs
I hope this helps?
Refer to this statement: "using the most extreme setup" - price will always go to most extreme levels.
As that too with the Asian session. The Asian session depicts the Banks/MM'ers spread/commission. Price will try to find/reach those highs or lows of the Asian Session. If it does not break the previous day's high of the Asian session, then the price will more often that not, drop. As that with the Low, if the Asian session low is not broken, price will increase... there's more to this - but that's the basics of it.
Here's NZDUSD H4 - lots of opportunities here - as price moves we will need to take another look and re-evaluate - just because I have drawn this out - I will not go in blindly as there are too many buy and sell confluence levels - So I will wait for price to develop one way or the other and take another look then smack this out of the park.
OK Ladies and Gents - this thread has turned into the most viewed thread in this section Thanks. I hope the illustrations and live setups before Sunday Open has helped guide you to make more informed choices.
If you want to do any back-testing while we wait for the Markets to open, feel free to drop in an screenshot with your setup and I'll guide you on the right path.
I'm going to take a break and watch some Movies.
Let's see if we can fine tune your ability to locate these from back testing some charts on all sorts of TF's before the markets open so you're all fresh and ready to kick some serious pips out of the Brokers Pockets
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