Bionic Chart - The easiest forex navigation | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Easy chart navigation and EA overview (req) 0 replies

Jump to date with navigation window issue 2 replies

Simplest and easiest trading strategy 11 replies

Why does GBPUSD enjoy the biggest/easiest price moves? 7 replies

Attachments: Bionic Chart - The easiest forex navigation
Exit Attachments

Bionic Chart - The easiest forex navigation

  • #461
  • Dec 13, 2021 5:01am Dec 13, 2021 5:01am
Quoting Bionics
{quote} Hello cuchuflito, thank you very much for your kind words. First of all, I am registered as a professional trader who can trade well over 1:30 in Germany with leverage. Therefore I have some perks that are not available to most traders as there are only 3% professional traders in Germany. So my recommendation, unfortunately, would not be applicable to most traders. In addition, here at Forex Factory I would like to hold back with advertising for brokers. In my video you will find a lot of tips to find the best broker for you. https://youtu.be/8wWOV9Mabn8...
Hi Michael, thanks for your advice.
"Professional" trader means through a GMBH? Or simply Gewerblich als "Pro Trader " angemeldet?
  • #462
  • Dec 13, 2021 7:54am Dec 13, 2021 7:54am
Quoting cuchuflito
{quote} Hi Michael, thanks for your advice. "Professional" trader means through a GMBH? Or simply Gewerblich als "Pro Trader " angemeldet?
Hello cuchuflito,

this has nothing to do with a GmbH or a company, the decisive factor here is your financial background, your trading turnover and your education. According to ESMA regulations, you can only trade Forex EURUSD with a leverage of 1:30. As a professional trader, there are no longer any statutory leverage requirements. The broker first checks whether you meet the following criteria.

A private customer can be classified as a professional customer upon request or by specification of the investment services enterprise. The classification can only be changed if the private customer fulfills at least two of the three following criteria:

On the market on which the financial instruments for which he is to be classified as a professional customer are traded, the customer has carried out an average of ten transactions of considerable size per quarter during the past year.

The customer has bank balances and financial instruments worth more than 500,000 euros.

The customer has worked on the capital market for at least one year, which requires knowledge of the relevant transactions, securities services and ancillary securities services.

To prove the € 500,000, of course, debt-free properties also count.

I hope this helps you.

Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #463
  • Dec 13, 2021 7:54am Dec 13, 2021 7:54am
Important message to everyone visiting our thread for the first time.

First of all, we are pleased that you would like to take part in this exciting exchange. So that you get the most important basics, please have a look at my first post in the interest of all members:

https://www.forexfactory.com/thread/...rex-navigation

Thank you and we look forward, to a constructive exchange with you. Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #464
  • Dec 13, 2021 10:11am Dec 13, 2021 10:11am
Hey Michael,

I have watched your recent video where do you show how to draw your zones by idetentifying the key candle and I just wanted to check if I understood everything right

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Trade 4.PNG Size: 34 KB

So the little candle on the let the price bounce twice, but once it was broken the candle with the light blue zone was identified as the new key candle. It held once and then the price broke through it but was rejected twice. The new candle is now the candle with the grey zone because it broke the old key candle (light blue) and wasn't taken out.

Thanks for your thread and your all the work you put into it! :-)

Greetings
Jan
  • #465
  • Dec 14, 2021 3:00am Dec 14, 2021 3:00am
Quoting funte
Hey Michael, I have watched your recent video where do you show how to draw your zones by idetentifying the key candle and I just wanted to check if I understood everything right {image} So the little candle on the let the price bounce twice, but once it was broken the candle with the light blue zone was identified as the new key candle. It held once and then the price broke through it but was rejected twice. The new candle is now the candle with the grey zone because it broke the old key candle (light blue) and wasn't taken out. Thanks for your...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 118 KB


Hello Jan, thank you very much. Basically there is no right or wrong, because to draw the Bionic candle, your personal interpretation of the Big Player approach must be taken into account. By the time you created your zone, the big players wanted retailers to believe that the price would keep going down even though they were planning to bring a pullback to the top. At around 11:10 a.m. (Point A), the course was pushed down again even more. At point B we see the key candle. That would have given you three interesting long entries by 5:00 p.m. My recommendation don't make it so difficult for you at the beginning and just choose the clear and easy zones. If you go back in time, you can train there and see immediately if your zones would have worked. I wish you a successful trading day, best regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #466
  • Dec 17, 2021 3:14am Dec 17, 2021 3:14am
Hi Michael
I trade for 20 years, which took me so long to break even, and I am now profitable. I have a very short list of the best traders I know. You are first.
On top of that you share your know-how kindly, exhaustively and for free.
There is an old saying: "if you want to be rich, be generous".

I am swallowing all your youtube videos slowly by slowly.
One aspect I really like is your precision on risk management and opportunity.
I have a question/issue. I could not find a broker yet, with a "guaranteed negative balance protection".Mine gives me "some " guarantee.
Meaning, in the event of a black swan , like what happened with GBPUSD, and a few years before with USDCHF, how do you protect yourself, if your stops are not being honored?
The USDCHF drop as far as I remember was about 700 pips in a few minutes. Traders in FF were baffled, some ended up with huge debts, others who were sitting on the right side of the trade with a massive unrealized profit, just could not close their positions, only hours later, sometimes even with a loss. Brokers were saying they needed that money to cover up for the losses of the other traders. I mean a mess.
What is the point of making money in the market, and ending up losing
your house in a minute?
Anyway, thanks for all what you are doing Michael.
  • #467
  • Dec 17, 2021 8:33am Dec 17, 2021 8:33am
Black Swan

Quoting cuchuflito
Hi Michael I trade for 20 years, which took me so long to break even, and I am now profitable. I have a very short list of the best traders I know. You are first. On top of that you share your know-how kindly, exhaustively and for free. There is an old saying: "if you want to be rich, be generous". I am swallowing all your youtube videos slowly by slowly. One aspect I really like is your precision on risk management and opportunity. I have a question/issue. I could not find a broker yet, with a "guaranteed negative balance...
Hallo cuchuflito,

First of all, on the first sentence you wrote, I want to compliment you on your honesty. Over the past few years I've helped a few people break even. It always became clearer that you need at least 10,000 real money trades to break even. And breakeven does not mean that you will be profitable. The real learning only begins after the 10,000 trades. In this respect, it is ridiculous that many trading coaches promise their students to make them profitable after a few hours. A Trader can save the money and should rather invest in his technology. That it took you a long time to break even shows your persistence. Thank you again for the great compliments, I feel very honored. I am aware that the issue of risk liability is a very sensitive issue with brokers. For reasons of liability, this is precisely why I am holding back publicly from making a statement on this. The drowdown in EURCHF was even 2200 pip within 1 second. If the price goes down so quickly, there are no buyers for the long trader to buy their stops. With one lot that was a loss of € 22,000 within 1 second. All forex traders who trade with a leverage of 1:30 have guaranteed protection through the regulation of ESMA and cannot lose more than their invested capital. There is no such protection in the future market, so everyone should think twice about trading in this market. You can say what you want about the forex broker, but whoever has experienced such a situation will be happy to trade in the forex market. I will go into this in more detail in my next two videos!

I wish you continued success.

Best regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #468
  • Dec 17, 2021 8:40am Dec 17, 2021 8:40am
Bionic candle Indicators


Hello dear Bionic Trader,

Actually, I wanted postet some indicator items this week that were intended to support the Bionic candle. Unfortunately, various project work prevented me from doing it, so I apologize. I will deal with it over the weekend so that you have the indicators available by next week at the latest.

Kind regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #469
  • Dec 17, 2021 8:49am Dec 17, 2021 8:49am
"All forex traders who trade with a leverage of 1:30 have guaranteed protection through the regulation of ESMA and cannot lose more than their invested capital. "
Ok, that gives me tranquility, I thought I read that somewhere but was not sure...
You all have a great weekend!
  • #470
  • Dec 18, 2021 3:20am Dec 18, 2021 3:20am
True Lies

Hello dear Bionic Traders,

In today's post: "True Lies" you will see how the big players deceive our eyes and we fall for them every day. Trading is a pure business of probabilities, so let's look at how we can use those probabilities to our advantage. We highlight some aspects that can help you in your daily trading.

Inserted Video


I wish you a lot of fun

Kind regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #471
  • Dec 18, 2021 9:27am Dec 18, 2021 9:27am
New Indicators and Templates Bionic 6.1

Attached Image (click to enlarge)
Click to Enlarge Name: Folie1.PNG Size: 239 KB



Hello dear Bionic Traders,

As promised, there is an update of various indicators with the corresponding templates today.

Attached Image (click to enlarge)
Click to Enlarge Name: Folie2.PNG Size: 76 KB


Bionic pullback

First of all, we have revised the Bionic Indicator 6.1 a little. Since I developed the bullish and bearish Doji especially for the Bionic candle, of course that balanced Doji (high-close == close-low) was missing. This is now displayed in white. Since the MT4 works with more decimal places than the currency pairs, there may be rounding differences in the Dojis. This means that a white Doji can sometimes be displayed in green or red. In the pullback template, the pullbacks are shown enlarged in the histogram. There are no dojis here. This representation is just a relief to see immediately which pullback is larger or smaller.

Attached Image (click to enlarge)
Click to Enlarge Name: Folie3.PNG Size: 97 KB


Bionic histogram

Since the candles within a chart are always at different price levels, I have now developed the bionic histogram for you. All bullish candles are now side by side above the zero line and the bearish candles are below the zero line. This allows you to assess the size of the individual strengths relatively quickly. Of course, you can hide certain candles or display them in different colors. For the best setting you have to experiment yourself. Incidentally, the balanced Doji is displayed in green and red above and below the zero line. But here too, as just described, rounding differences can occur.

Attached Image (click to enlarge)
Click to Enlarge Name: Folie4.PNG Size: 94 KB


Bionic Bid & Ask

As you know, the Bionic candle has a very special calculation that can be found in the Bid and Ask histogram. Here the movement sequences, the special Bionic Candle calculation, are translated into a bullish and bearish strength. This makes it possible to read off the current strength in the market relatively quickly. The colors can of course also be adjusted here.

Attached Image (click to enlarge)
Click to Enlarge Name: Folie5.PNG Size: 256 KB


Bionic efficiency

The problem with candles is that they are always different sizes. The Bionic Efficiency Histogram acts as if all candles are the same size and brings each candle to a 100% value. Then the indicator shows how strong the bullish or bearish strength is. Depending on the color setting, it can be used to show interesting representations.

Since I cannot show you all the possibilities that there are, you have to experiment yourself to find out which representation makes the most sense for you. Please note, however, that these are only auxiliary indicators that cannot predict what will happen next. Nevertheless, it is possible, to a certain extent, to change the probability in your favor.

As always, the indicators and templates can be found on the first page. Since I have already changed the bionic indicator a few times, it was of course always deleted on the first page. This automatically deletes the display of previous downloads. The old version had 1,897 downloads so far. This is a very high value for the short period of time. In this respect, I am confident that some traders will actually work with it and may pass on their experiences to us in the next few weeks or months.

I wish you continued success and fun in trading and look forward to another exchange with you.

Kind regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #472
  • Dec 18, 2021 12:01pm Dec 18, 2021 12:01pm
Scalper, the formula 1

Hello dear Bionic Traders,

In today's post, I'll show you how you can triple your probability of winning with significantly less risk. You will also need significantly less capital in the future and can achieve higher profit rates at the same time. At first sight this sounds too good to be true, but it also requires some changes in trading. And change is exactly the magic word that many traders do not like to hear because it initially brings with it uncertainty. I promise you some interesting approaches.

Inserted Video


I wish you a lot of fun

Kind regards Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #473
  • Dec 18, 2021 1:46pm Dec 18, 2021 1:46pm
Quoting Bionics
Scalper, the formula 1 Hello dear Bionic Traders, In today's post, I'll show you how you can triple your probability of winning with significantly less risk. You will also need significantly less capital in the future and can achieve higher profit rates at the same time. At first sight this sounds too good to be true, but it also requires some changes in trading. And change is exactly the magic word that many traders do not like to hear because it initially brings with it uncertainty. I promise you some interesting approaches. https://youtu.be/FGYwFXnSng4...
Excellent material.
every Saint has a past. Every Sinner has a Future
  • #474
  • Dec 19, 2021 2:22am Dec 19, 2021 2:22am
Quoting turnip15
{quote} Excellent material.
Hello turnpip15,

thank you very much for the kind words. Your compliment is very valuable because you are one of the earliest members of Forex Factory. A trader who has been at FF for 15 years has certainly seen a lot of things and gained some experience. In this respect, I am very pleased that you find the information valuable.

I wish you a nice weekend.

Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #475
  • Dec 19, 2021 3:23am Dec 19, 2021 3:23am
Hi Michael, after watching more videos, I found your studies on the advantages of trading the EURUSD and doing it in the lower time frames, in terms of pip value.
My take is that the effectiveness and efficiency belong in the M1 or smaller. Provided you one has a low spread broker.
I checked my performance from the last 2 weeks, on EURUSD and USDJPY. Found that the profits for USDJPY were minimal. So I dropped it.

Now I am only trading EURUSD, since 3 days, I enter on 1M, and trail on 5M.
Much more efficient, I only need to focus on 1 pair. Much more effective, I miss fewer opportunities. It is also much more relaxed, my system gives only a few trades a week, and I am very happy with that.
My results speak for themselves.
Cannot thank you enough for saving me tons of homework brother.
  • #476
  • Dec 19, 2021 3:51am Dec 19, 2021 3:51am
Quoting cuchuflito
Hi Michael, after watching more videos, I found your studies on the advantages of trading the EURUSD and doing it in the lower time frames, in terms of pip value. My take is that the effectiveness and efficiency belong in the M1 or smaller. Provided you one has a low spread broker. I checked my performance from the last 2 weeks, on EURUSD and USDJPY. Found that the profits for USDJPY were minimal. So I dropped it. Now I am only trading EURUSD, since 3 days, I enter on 1M, and trail on 5M. Much more efficient, I only need to focus on 1 pair. Much...
Hello cuchuflito,

The analysis of money management is an important topic in order to find the optimal asset. The trading hours are also very different and decisive. My trades in EURUSD are much more efficient in the morning between 7:00 am and 11:30 am CET than between 1:00 pm and 5:30 pm CET. I will go into this explicitly in my next videos. Your statement shows once again very clearly how important analyzes are for personal success.

All the best for the future.

Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #477
  • Dec 19, 2021 6:15am Dec 19, 2021 6:15am
New Bionic Candle 6.1

Attached Image (click to enlarge)
Click to Enlarge Name: Folie1.PNG Size: 239 KB


Hello dear Bionic Traders,

just a brief information to all who participate in the project here. The project of the Bionic candle is an ongoing process, so the indicator is adapted to the new circumstances if necessary. Due to the further development of a bullish and bearish doji, the Bionic candle had to be modified again. There were also other interesting auxiliary indicators that I made available in the form of templates.

Here is the contribution to it:

https://www.forexfactory.com/thread/...3#post13830123

You can find all the information there!

Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #478
  • Dec 20, 2021 3:12pm Dec 20, 2021 3:12pm
Hi Michael. Greetings from Czechia. I started studying your blog a week ago and I am slowly starting seeing the levels in the EURUSD chart. I just wanted to thank you very much for all the time and effort you are putting into this. I appreciate it very much! Jiri
  • #479
  • Dec 20, 2021 3:46pm Dec 20, 2021 3:46pm
Quoting Bionics
{quote} Hello DerWanderer, first of all we start next week with MQL4, in November I have a little more time, then I'll see if I can do it in MQL5. Greetings Michael
Nice, thanks! Looking forward to seeing it.
  • #480
  • Dec 20, 2021 8:58pm Dec 20, 2021 8:58pm
Quoting DerWanderer
{quote} Nice, thanks! Looking forward to seeing it.
Hallo Wanderer, unfortunately, my programmer is currently involved in very important projects in the futures market. Because I do not program MQL5 myself, we will have to be patient a little longer. Greetings Michael
Forget:That does not work, amateurs build the ark, pros the Titanic!
1 trader viewing now