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Free Resources for Trading

  • #1
  • First Post: Edited Jun 23, 2021 9:14am Aug 31, 2020 1:39pm | Edited Jun 23, 2021 9:14am
I am one of those traders who is like a sponge when it comes to learning about the Forex market. In other words, I do a lot of research. Sometimes I come across an article or video or even an indicator worth sharing.

I want to use this thread to share that information with you. Hopefully, it will help you in your journey to becoming a better trader!

Articles and Videos

  1. The Number One Reason Why Traders Fail In This Business
  2. Helpful Articles for Trend Trading

Indicators

  1. Previous High and Low for Day, Week, and Month
  2. VWAP Bands

Currency Strength Tools

  1. Free Resources to Identify Currency Strength
  2. Using Mataf's Currency Index Tool to Avoid Bad Trades
  3. Forex Market Map


Due to the nature of the Internet, things can change without notice. For example, something could be free one day but then the owner decides to charge a price for it. Or a website might be taken over by a new owner who changes things. Having said that, my intention here is to only share FREE resources for trading. If any of these resources cease to be FREE or if any link takes you to something other than what is specified here, please send me a message to let me know. I will do my best to remove the link. If you don't get a response from me, then report it to a moderator. There is no guarantee I will be here to resolve the issue. But as long as Forex factory exists, there should be a moderator to handle the situation.

Learn from your mistakes and march on.
  • #2
  • Aug 31, 2020 1:42pm Aug 31, 2020 1:42pm
The Number One Reason Why TRADERS Fail In This Business

Inserted Video
Learn from your mistakes and march on.
  • #3
  • Aug 31, 2020 1:57pm Aug 31, 2020 1:57pm
Previous High and Low of Day, Week, and Month

The following indicators also have settings for current opening price and previous closing price, as well as range levels you can define. I usually set range levels to 25%, 50%, and 75%. Another very helpful feature about these indicators is they have an on and off button that you can enable in the settings.

The generous coder who created these indicators goes by the username jeanlouie.

Attached File(s)
File Type: ex4 Daily_Lines_w_Range_Levels.ex4   54 KB | 571 downloads
Attached File(s)
File Type: ex4 Monthly_Lines_w_Range_Levels.ex4   53 KB | 554 downloads
Attached File(s)
File Type: ex4 Weekly_Lines_w_Range_Levels_v1.1.ex4   54 KB | 530 downloads
Learn from your mistakes and march on.
  • #4
  • Aug 31, 2020 2:14pm Aug 31, 2020 2:14pm
Helpful Articles for Trend Trading

1. Why Trading Against the Trend Will Destroy Your Account
2. How to Trade Trends in Forex - A Complete Guide
Learn from your mistakes and march on.
  • #5
  • Aug 31, 2020 2:19pm Aug 31, 2020 2:19pm
Free Resources to Identify Currency Strength

1. Currency Power and Top 5 Currency Pairs
2. FinViz
3. Live Currency Strength
Learn from your mistakes and march on.
  • #6
  • Aug 31, 2020 6:41pm Aug 31, 2020 6:41pm
Using Mataf's Currency Index Tool to Avoid Bad Trades

Comparing currencies can be helpful in keeping a trader from entering a bad trade.

Would you prefer trading a currency pair when both currencies are moving wildly and have no clear direction? Or would you prefer to trade only those currencies that have a clear direction?

The answer should be obvious.

If EUR is trending up strongly, then it makes sense to short any other currency that is strongly trending in the opposite direction. For example, if EUR is trending up strongly and USD is trending down strongly, then a trader should only be looking to go long on EURUSD.

The Currency Index Tool at Mataf can help you to find the best pairs to trade.

The nice thing about this tool is you can get a global view of the currencies based on your choice of time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: global currency 1.png Size: 76 KB
Attached Image (click to enlarge)
Click to Enlarge Name: global currency 2.png Size: 138 KB
Learn from your mistakes and march on.
  • #7
  • Aug 31, 2020 7:55pm Aug 31, 2020 7:55pm
Quoting here2there
The Number One Reason Why TRADERS Fail In This Business https://www.youtube.com/watch?v=X7i5j-oSm1U
Number one reason why traders fail? because they take advice from clowns like RockzFX who are fake gurus with no track record.
  • #8
  • Aug 31, 2020 8:07pm Aug 31, 2020 8:07pm
Great stuff, plz continue to share these free things in future to help the people.
  • #9
  • Aug 31, 2020 8:44pm Aug 31, 2020 8:44pm
Quoting Occult
{quote} Number one reason why traders fail? because they take advice from clowns like RockzFX who are fake gurus with no track record.
Successful people don't waste time looking for faults; they search for material to build bridges to success.
Learn from your mistakes and march on.
  • #10
  • Aug 31, 2020 8:59pm Aug 31, 2020 8:59pm
Quoting here2there
{quote} Successful people don't waste time looking for faults; they search for material to build bridges to success.
Wouldn't a successful plumber look for faults if there was a leak in your house? Success can never be built on a foundation made of BS.
  • #11
  • Aug 31, 2020 10:01pm Aug 31, 2020 10:01pm
Quoting Occult
{quote} Wouldn't a successful plumber look for faults if there was a leak in your house? Success can never be built on a foundation made of BS.
The information in the video I shared is not BS. Focus on the content, not the person presenting it.

I have attempted to tell you in a nice way to not be disruptive. But now I feel the need to be firm.

If you post one more disruptive and useless comment in here, you will be reported for violating FF rules. This thread is not for debate or to make accusations against others. If that's what you are looking for, then you are not in the right place.
Learn from your mistakes and march on.
  • #12
  • Aug 31, 2020 10:42pm Aug 31, 2020 10:42pm
Quoting BWilliam
{quote} Relax here2there, Occult calls out taking advice from fake Gurus is correct. There's far too many fake Gurus spouting nonsense that losing traders love to hear. Both on YouTube and forums. On the other thread you wrote it's near impossible to make money trading forex. Occult started a thread explaining why he quits without turning back. Both of you share similar views although not completely. He's not attacking you, he's targeting fake Gurus who misinform and mislead. So, cut him some slack. At least he's honest and real, good man. Hi Occult,...
He is free to say what he wants about whom he believes are fake gurus in his own thread but not here.

This thread is not here to be a platform for people to make libelous statements about other traders. Its objective is to collect and share information on trading from various sources to hopefully help aspiring traders to become better at trading.
Learn from your mistakes and march on.
  • #13
  • Sep 1, 2020 4:54am Sep 1, 2020 4:54am
Another source to look at the Whole Market:

Attached Image (click to enlarge)
Click to Enlarge Name: FUTURES PRICES.png Size: 119 KB

https://www.barchart.com/futures/heat-map

Attached Image (click to enlarge)
Click to Enlarge Name: Forex Market Map.png Size: 90 KB

https://www.barchart.com/forex/market-map
It never gets easier, you just get better
  • #14
  • Sep 1, 2020 5:57am Sep 1, 2020 5:57am
Quoting Shabs19
Another source to look at the Whole Market: {image} https://www.barchart.com/futures/heat-map {image} https://www.barchart.com/forex/market-map
That is very good! Thank you for sharing!
Learn from your mistakes and march on.
  • #15
  • Sep 1, 2020 8:09am Sep 1, 2020 8:09am
Change the name of thread to "Free resources to blow your account"
  • #16
  • Sep 1, 2020 12:25pm Sep 1, 2020 12:25pm
VWAP Bands

If you don't know about VWAP, then you should do some research on it, because it is a very useful tool!

One thing you will notice, however, is people tend to use the VWAP indicator for scalping on lower time frames such as the 5 minute chart. In fact, most VWAP indicators only work on such time frames. Nevertheless, I have found a gem of a VWAP indicator that works beautifully on all time frames!

But there is more! A very generous coder who goes by the username jeanlouie has modified this VWAP indicator, adding a setting to it to allow users to hide or display the bands at the click of a button—a very handy feature for those who like to keep their charts looking clean.

Attached File(s)
File Type: mq4 vwap-bands-indicator_wBtn.mq4   20 KB | 585 downloads
Learn from your mistakes and march on.
  • #17
  • Last Post: Sep 1, 2020 12:45pm Sep 1, 2020 12:45pm
Easy Trend System

When it comes to trading strategies, I am reluctant to share. Why? Because many if not most of them suck.

Nevertheless, there are some gems out there worth sharing!

I stumbled upon a very good MACD strategy freely shared by a successful trader who goes by the username OhComeOn.

Click here to see the strategy.
Learn from your mistakes and march on.
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