The Equilibrium, a key to success!

Hello skipper,

I'm sorry, I can not help you, because I do not know anything about this area. But there is a creative and professional programmer high impact member fxdaytrader who might be able to help you.

https://www.forexfactory.com/fxdaytrader_

best regards

Hello skipper13,

I can only confirm you in this, because in this blog there are some examples to identify the Equilibrium. Of course, not all assessments are correct, which trader can say that he is always right. But it will help you to get closer to the mystery of supply, demand and balance. This gives you a better feeling for future price movements and that's what helps you in daily trading.

best regards

hello Bionik,

Thank you, I will take a look at this

How the US Dollar Index continues to help us


Dear Traders,

The US Dollar Index (USDX) represents the ratio of the following currency basket to the US dollar:
Euro 57.6%, Japanese yen 13.6%, British pound 11.9%, Canadian dollar 9.1%, Swedish krona 4.2% and the Swiss franc 3.6%
This can be used to read the strength or weakness of the US dollar. A rising index means that the US dollar is strengthening against the currencies in the basket of currencies, while a falling index is depreciating.

Attached Image (click to enlarge)

In order for you to be able to load the US Dollar Index into your MetaTrader, your broker must provide it to you. Not every broker offers this service.
Under "View" and "Market Overview" you have to select "Show all" and see if the US Dollar Index is available.

Attached Image (click to enlarge)

If you compare the US Dollar Index with the EURUSD, you will believe at first sight that the price is exactly the same. The opposite is the case. Basically, the courses are similar, which is inevitably clear, but the differences are clearly visible. What has always bothered me is that the US Dollar Index is almost mirrored to the EURUSD. Being a visual person, I wanted to put the US Dollar Index in the same direction as the EURUSD.

Attached Image (click to enlarge)

I finally succeeded with the iMirror indicator. Unfortunately, I can not figure out who developed this indicator, but it does help to implement that idea. At the end I post this auxiliary indicator. With this help, the US Dollar Index can move in the same way as the EURUSD. Where I drew the two circles would have been a nice confirmation for me that the course goes down. Since the price is only in a sideways range, that was only 16 pip, but at least.

Attached Image (click to enlarge)

As a rule I work in the 1H chart with the US Dollar Index and can work there with supply, demand and balance as described in our blog. Sometimes the US Dollar Index determines where to go and sometimes the EURUSD. I can use this index very well as a confirmation, but it is not the holy grail.

Attached Image (click to enlarge)

Unfortunately, I can not consider the price display because the chart image is mirrored. Neither can I use the Momentum Indicator, which gives me the strongest momentum in the course. Here, the Sensity indicator helps me find the strongest and weakest candles in the market.
Just when the EURUSD hit an important resistance line, the US Dollar Index has usually provided me with very good information.

This is a nice help, for me still supply, demand and balance decide on success and failure.

I wish you a nice day

best regards

Attached File(s)

iMirror.ex4   13 KB | 744 downloads

Hello Techanalyst,

after some trembling you have reached your goal. Congratulations. I hope you have traded with as many contracts as possible.

best regards

[quote=Bionics;10800228]{quote} Hello Techanalyst, after some trembling you have reached your goal. Congratulations. I hope you have traded with as many contracts as possible. best regards[/quote

Thank you. It's a big possibility that this will go further down. Just waiting now to see if i get a signal that is going to go back up to about 1.25 i will buy, if it starts going under the support line, i will still sell.

Hello dear traders,

5 days ago I gave up this post.



The course has developed as follows to this day and we are now in the area of strong resistance.



In the lower green line, demand dominates supply. The question is whether the price may go up to 1.24 and turn because the supply is there dominating, or the price can break the resistance zone.

That should be watched closely now.

I wish you a nice evening.

best regards

Hello dear traders,

Yesterday was a day when many traders thought it was going up again. The expectations were unfortunately not met.

Attached Image (click to enlarge)

In the 4H chart we see that the course is currently forming a small equilibrium. That could be an indication that there will be a pullback afterwards. The offer zone 3 is very strong, so I would give a pullback the chance to a maximum of the point 4.

At point 2 there is demand, but at point 1 demand is much stronger as this is shown by the source of demand.
If the course continues to run down, he could develop strength again at point 1 to run towards point 4. Now we have to watch closely the price history in the smaller timeframe.

Yesterday the bulls tried to push the course over Zone 4 and failed. This shows how much power the bears currently have. So we are waiting for the big demand that allows a pullback.

It will be exciting today, let's see what will become of the Equilibrium.

I wish you much success today.

best regards

Trading workplace with 5 screens under $ 2,000


Dear Traders,


Anyone who wants to earn money on the stock market in the long term must invest. But you do not need to invest $ 10,000 at the beginning. If I invest, the price / performance ratio should be right. At the beginning I searched the internet for what i needed. I was scared how expensive such equipment was. If you want to become a full-time trader and have already gained experience in the marketplace, you should be comfortable at work and be able to work efficiently.
The question what you need is not so easy to answer, because everyone sees differently. Personally, I started with 4 screens and now there are 7 screens. That has been enough, but I will now upgrade something. Since I preferred to invest my money for the trades in the beginning, I had to come up with a solution.

Today I would like to introduce an idea, how you can put together a trading workplace with 5 screens under $ 2,400, or with 10 screens under $ 4,500. For the beginner certainly enough 2 screens, but professionals who want to optimize their trading station, could save a lot here.

Let's start with the computer. A laptop is enough for a start. Although Sony laptops are no longer manufactured, these are among my favorites. They are sturdy and because they are not built anymore, you get a Vaio laptop 17 inches with an i7 processor needed for $ 500. Make sure the Sony has a high end CPU with a Pass Mark value of at least 7,000. Here you can compare your CPU.

https://www.cpubenchmark.net/high_end_cpus.html

The RAM should be at least 8 GB and replace the 1 TB HDD hard drive with a Samsung 500GB SSD 850 EVO.



The advantage of my Windows 10 was up within 20 seconds and shut down in 5 seconds. Performance is also important, there are up to 6 different Metatraders running on my computer and up to 46 auxiliary indicators (Post 246) on my dashboard. This requires enormous power, which you certainly do not need in the beginning. To increase the access times you should set the rapid mode of Samsung, which brings the biggest improvement.



My access times are much better than before, which makes trading a lot easier. If you have an SSD in use, you can check the performance with the AS SSD benchmark, if you work with an HDD you need the program CrystalDiskMark. You can download the programs for free and check your computer. If you did the test, do not be fooled, at the beginning I had only 1,100 points. You can optimize everything.



As a monitor, I recommend the LG 32mp58hq-p monitor for about $ 250. He is 32 inches, a good resolution of 1,920 x 1,080 pixels has a decent access time and brightness. Your office chair should have a lumbar support and guarantee you a neat hold. It does not have to be a Recaro chair at the beginning. Just enter gamer chair on Ebay. An external graphics card saves the resources of your laptop. Here I recommend Digitus USB 3.0 adapter apiece for $ 75. A wall bracket should be adjustable on all sides costs about $ 50 each. An active USB distributor costs $ 20. Still a few USB cables, HDMI cables and a network cable for a total of $ 40.

Altogether we are for the laptop with SSD, 4 monitors 32 inches, 4 external graphics cards, office chair, wall mounts and accessories at about $ 2,400.
This will cost 10 screens 8 x 32 inches plus 2 laptops with all accessories around $ 4,500.

If you look around a bit, you can certainly save even more. With the Sony Vaio you can already drive 2 additional screens, so you would need only 2 external graphics cards in the beginning. If you negotiate well, you can buy a decent trading workplace for less than $ 2,000.

I have two different internet providers with 100 Mbit. One provider via cable, the other via the wireless network. I get the best speed over a network cable and the wireless network is my last resort. If the power goes out, I do not need an external power supply with the laptop, but then the Internet is off. Then I still have my cell phone with which I can close the position in an emergency.

In addition, I recommend a CO2 meter, please read Post 131

Light, oxygen, a good desk as adjustable as possible, so that you can sometimes stand are a basis for good work. I will rebuild my trading room this year to enjoy more comfort. I think if you spend many hours in a room, you should feel good. Then you can overcome losses much easier and enjoy the profit twice.
I hope you had some ideas and I look forward to your feedback.

A beautiful and successful day.

Best regards

hello bionik
Thank you very much for your analysis, I'm learning a lot and I'm already profiting.
My entrances are getting better, because I'm looking for balance, if I also include my auxiliary indicator that records S / R with me.
Yesterday 20 pips were short profit. Thank you.

Hello Skipper13,

I am very pleased that as a beginner you are concentrating on the most important aspect of the forex market, supply, demand, balance and thus your first successes. As a beginner, I would have been happy to know this foundation. This will save you many hours where you do not have to deal with unnecessary knowledge. You do not want to get cocky now, continue building your knowledge and working to identify the zones correctly. I am really proud of you, because you prove that even a beginner who diligently and efficiently wants something, reaches his goal. This has nothing to do with this trading system of supply and demand, because this can be done with any good system. Decisive is what you want to achieve.

Keep it up
Best regards

Hello Techanalyst,

It is always risky to trade a pullback because you do not know how far that goes. We are still in a downtrend, but you might be lucky today. However, I do not think that we will see the 1.24 since we have a strong supply zone from 1.2335. Look at my post 348 again. But I keep my fingers crossed.

best regards

EUR ECB Monetary Policy Meeting



Today at 13:30 CET it started, the course plunged 16 pip down, 37 pip up and then again 20 pip down. And within a minute. Then it went 22 Pip down and 22 Pip up in one hour. After an hour we were back where we started. So and what did the whole thing. At least a little fun. When I saw that the price was going down, I put a buy stop at the Daily Open and was lucky this time. You have to pay attention to these fake breakouts often have a range of 15-17 Pip until it goes back massively in the other direction.



To trade in such situations is like going to the casino. So this meeting was a decisive factor for the EURUSD, but I see it completely different. Although the course has moved, once down and once up, but after an hour were back where we started. So, in fact, nothing happened.

After that, nothing happened, because the course was anyway in the downward trend to form a pullback. And that is exactly what happened. I do not mean to say that the meetings have no impact on the traders and thus on the courses, but the meeting today has changed little about the overall situation. Maybe the pullback upwards may have been accelerated a bit, but that's about it.

That's why I usually keep out of such situations. Today I had expected to be stopped out with 4 pip and I had a guaranteed stop. But it had nothing to do with Trading.

It is always fun in the evening to find out at NTV, why the DAX or EURUSD has risen or fallen. It does not matter what the news is about the ticker. The market is moving because people and computers are pushing the BUY or SELL button. And why are you pushing to BUY or SELL? Because you have an opinion. And this opinion often has nothing to do with the economic data.

As I said, that is my personal opinion and I also respect any other opinion.

Of course, the economy in each country is important, but not for me. For me, how investors respond to the news is far more important.
And it was the same today. After waiting an hour, the pullback could continue today. I had expected anyway that the pullback only runs until 1.2348 and then continues its downward trend, but I can be wrong too.

That's why my recommendation, do not listen to the news, but look how the investors react to it. If there is a storm at sea you should stay in the harbor with a small sailing boat. When a fresh breeze blows then sailing is fun.

I wish you a nice evening.

best regards

Trend oder Pullback


Hello dear traders,

I would like to post an interesting discovery today



This 1H chart image looks very unclear, so I tried to make the price trend a bit clearer.



As you can see, the most important price gradients have been smoothed out. Next, I've dealt with the trend direction, the amount of pips and the time.



My aim was to determine the average pips within a 1 H period, which is relatively easy with Excel.



Now I have produced the result in the clear chart image. The lower bars show the average pips per hour per trend.
The smaller the bars, the stronger the trend. Very strong trend = A, Strong trend = B, Weak trend = C, Very weak trend = D.
The problem with the Zigzag indicator lies in the fact that it is only later known that the trend is over. However, this is irrelevant for a long-term outlook, after all, you can still switch to a smaller unit of time and see how the course is taking place there.

So I'll do some calculations on the weekend and then ask the pros for their opinion. I wish you all the best for the downhill today. At 1,223, though, I'll be a bit cautious.

best regards

Hello Bionik,
a very interesting analysis and approach, I've never thought about it.
Thank you

Hello Skipper13,

that's just an idea, at the weekend I'll take a closer look and report the result. In the flow the whole thing looks quite interesting. How are you progressing?

best regards

Hello Bionik,
Thank you I'm fine, their analyzes help me a lot and my entries are very prudent, sometimes I have the impression to be prudent.
Unfortunately, I can not trade next week (holiday) but I will follow their postings.
In the EUR / USD I have the impression that it is a cat and mouse game in recent days.
I think the zone where the course is currently located (1.23330 - 1.22600) could be decisive in which direction the course develops.
Best regards

Hey Bionics, In this post third picture from top: how did you get those two lines at TP? thank you.

Hello Trader Waldo,

I drew that with Power Point. Post 242

https://www.forexfactory.com/showthr...5#post10756335

best regards
Michael