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Is forex education misleading or everyone is stupid?

  • #1,141
  • Edited 12:25pm Feb 11, 2022 11:59am | Edited 12:25pm
There are rare forex teachers available, and real knowledge no ones likes to share except few genuine ones yet people like to debate on forex try to turn others down, mocking but not share anything, all in all its only a self discovery banging walls and walls.

What one understood about forex markets and try to explain in long and long paragraphs is a different world how other person will perceives and implement, even seeing how to throw an Axe will not help in doing the same over and over (flukes exceptional) so seeing other persons trades will not help unless you know the Why so upon FF it is again difficult to learn.

we learn wrong things, practice them over months and become a master to bet our money to get failed over and over.

First learn before you plan to earn, my this week progress working on draw down to move to FTMO.
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"Exchange of hands"
  • #1,142
  • Feb 11, 2022 3:07pm Feb 11, 2022 3:07pm
Quoting captalTrader
{quote} Forgive me I'm still not familiar with this forum. I use order matrix, one that captures events that lead to positive outcome and other leading to negative outcome. Having two instead of just one I'm able to predict the odds of negative and positive outcomes Firstly before I ramble my way into everything ending up saying complety nothing, what exactly you have done or tried? Please try to make it short

Well, my main obstacle is transition probability. I'm not sure how to seit it up.
  • #1,143
  • Feb 11, 2022 3:17pm Feb 11, 2022 3:17pm
Quoting captalTrader
To Fluffy I've been waiting for your reply, it's been an hour now. I'll go now hopefully I'll find your reply here later today. Can't wait to take this thread to another level of discussion. I'm tired talking about the same things again and again
Sorry, life took over.
  • #1,144
  • Feb 15, 2022 6:30am Feb 15, 2022 6:30am
Did this thread die? Did something happened I missed? Anyone here?
  • #1,145
  • Feb 15, 2022 12:53pm Feb 15, 2022 12:53pm
Quoting fluffyfalafe
Did this thread die? Did something happened I missed? Anyone here?
We are here waiting for more incredible awesome stories how to draw lines on the chart and earn a million!
Observer effect
  • #1,146
  • Feb 15, 2022 1:45pm Feb 15, 2022 1:45pm
Quoting fluffyfalafe
Did this thread die? Did something happened I missed? Anyone here?
gepards explained everything, now we all programming EAs according to the blueprint. why talk? all clear now
  • #1,147
  • Feb 16, 2022 10:04am Feb 16, 2022 10:04am
Inserted Video
“Stops don’t limit profits — they prevent disasters.”
  • #1,148
  • Feb 16, 2022 12:38pm Feb 16, 2022 12:38pm
Quoting ryuryu
{quote} We are here waiting for more incredible awesome stories how to draw lines on the chart and earn a million!
I came here to learn more about this type of approach to trading, it makes me sad as it appears this thread has come to an end...
  • #1,149
  • Feb 16, 2022 2:21pm Feb 16, 2022 2:21pm
Quoting fluffyfalafe
{quote} I came here to learn more about this type of approach to trading, it makes me sad as it appears this thread has come to an end...
Same here. If anyone wants to elaborate on such method please do so
  • #1,150
  • Feb 17, 2022 5:41am Feb 17, 2022 5:41am
Hi all.
I'm new to the Forum and I really don't know if this post is properly placed here.
I have a problem regarding the backtesting of an EA.
This EA is something different. It needs to take data from the screen, which corresponds to third-party flags (iCustom doesn't work with them).
For this reason, the Strategy Tester does not work for me. In the Tester, the screen data does not change, even there are objects or indicators that do not appear in backtesting. I have also tried the Soft4FX Forex Simulator and it doesn't work either.
The EA works fine, but it would be very important for me to test it during the last few months.
Any ideas?
Thanks a lot.
  • #1,151
  • Feb 17, 2022 10:07am Feb 17, 2022 10:07am
dream on
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  • #1,152
  • Feb 17, 2022 11:59am Feb 17, 2022 11:59am
Quoting SharksFollow
Hi all. I'm new to the Forum and I really don't know if this post is properly placed here. I have a problem regarding the backtesting of an EA. This EA is something different. It needs to take data from the screen, which corresponds to third-party flags (iCustom doesn't work with them). For this reason, the Strategy Tester does not work for me. In the Tester, the screen data does not change, even there are objects or indicators that do not appear in backtesting. I have also tried the Soft4FX Forex Simulator and it doesn't work either. The EA works...
If it's on your MT4 platform screen, I take it that it's an EA or indicator (referring to your "third-party flags"). So you should be able to access the array (sometimes it doesn't appear in the data panel). If not, meaning if it's on your screen but it's not an MT4 program, then you need to give a bit more information.
  • #1,153
  • Feb 17, 2022 1:07pm Feb 17, 2022 1:07pm
Quoting bilal1947
...my this week progress working on draw down to move to FTMO. {image}
insane numbers, yours are!
why ftmo?
try darwinex instead? see joyny. (s)he just got a fat injection of €500,000 from them...
with your stats, you will be there at no time...
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Maadik Hugiis. IQ 69.
  • #1,154
  • Feb 17, 2022 3:33pm Feb 17, 2022 3:33pm
Quoting captalTrader
https://youtu.be/ Introduction I am a programmer; I was introduced to forex market by a client in 2015. After studying the markets I then published an EA on the mql5 market August 2016, sold just 5 copies and rented 10 copies for one month only, because I believed then that too many users will affect EAs performance so I removed it from the market. It was a night trading EA as my research back then showed that the only profitable strategy was night trading. There was one best selling night trading EA back...
A few of my comments:
1) one time you write forex is random, and once it is fractal. Both things are mutually exclusive. In my opinion, forex is more of a stochastic process.
2. AI - it's not a grali and magic! it's really a kind of regression, just a regression on a nonlinear multivariate, multi-points of freedom function. Interesting article here https://www.mdpi.com/1099-4300/24/1/35/htm
3) I use simple tactics and I have it 100% automated: impulse, pullback, reject, profit. Beacuse the pattern repeats over and over again, thanks to this I can earn regular income.
4) ask yourself if you want to figure out how forex works or if you want to make money on forex - if it's the first, study and look for a unified market model. if the second, then greatly simplify your thinking and use repetitive patterns (no matter what is behind them)
  • #1,155
  • Feb 17, 2022 3:59pm Feb 17, 2022 3:59pm
This thread is slowly transgressing to the humble bragging zone....as every thread in FF. Now, all you need is someone to scream about myfxbook, or a verified statement and this thread is gonna explode.
Help to be helped.
  • #1,156
  • Edited 5:10pm Feb 17, 2022 4:48pm | Edited 5:10pm
Quoting bilal1947
There are rare forex teachers available, and real knowledge no ones likes to share except few genuine ones yet people like to debate on forex try to turn others down, mocking but not share anything, all in all its only a self discovery banging walls and walls. What one understood about forex markets and try to explain in long and long paragraphs is a different world how other person will perceives and implement, even seeing how to throw an Axe will not help in doing the same over and over (flukes exceptional) so seeing other persons trades will...

NICE1! Mind blowing results man!
What Im more impressed about this is not only the winrate and profit factor but the "maximal drawdown" You have highlighted as well. Keeping the equity volatility low is so SO much underrated from what I have learned. 6% is not that low and theres room for improvement but its relatively low still if looking at some other traders. Im working myself on this "problem" as well. Ofcourse i dont know the full context, You might started out with 1-2% risk and then had hedge open or something and/or multiple positions or was willing to offer something extra from profits that were secured already (which is perfectly fine I think if pshyology is strong enough to know when to stop and have max daily loss limits).

Also 2 minutes from Your time, I suggest listening this quick podcast between 56:10-58:10 - You might already know this/have some kind of idea already, but this is actually golden information in my eyes!
Refining Your Psychological Profile w/ Chris Lori - Forex Trading Interview | 76 mins - YouTube (youtube.com/watch?v=HKlv7XLgi5Y) - @ 56:10-58:10, just 2minutes total. Also overall a nice podcast to hear from one of the traders that came out with Imbalances/gaps before ICT, I might be wrong though, but He has some good stuff.

This was one of my hardest pshyological barriers Ive struggled with also. Now I have clear fixed max risk with drawdown, max positions & max daily loss and Im actually following now these strict rules aswell and they help so much, this feels soo good! Especially pshyology wise and I actually like that FTMO has those fixed numbers also, for Your own good, it actually helps. Ofcourse one can start out with risking 5-10% per trade also, and if losing then just get new challenges etc but I dont think its really good for overall health because its most likely gonna affect You in some way/can build bad habits, that can affect Your own capital later on.

Im currently practising for FTMO as well, and looking forward to it next month!
Talking about risk management.. Im building up a some kind of risk model for it also.. planning to start out somewhat chilled/slow and then increase/earn the right to use more % of risk as profit/equity grows .. but only if profit grows. Starting out with as little as 0.5-0.8% risk per trade (also maximum drawdown) and working it/earning myself the right to use the 1-1,5% maybe even 2% max later on when atleast few percentages growth has been made already.. 2% mostly on extreme cases or only if theres enough profit already made that Im willing to sacrifice. 30 days is actually alot of time to pass it if one has free time and I think they came out with extra 2 week extension period also now .. even better.

I think Youre one, if not the most gentle person ever Ive met online or atleast in this forum for sure (no homo though! I hope .. jokes! )
Anyways, keep me updated about Your FTMO as well if possible/comfortable enough and I might share a pic or two also. Always good to discuss!
Good luck & good trading Man!

Regards,
Chriss K
  • #1,157
  • Feb 17, 2022 7:50pm Feb 17, 2022 7:50pm
Quoting Chrissk
{quote} this is actually golden information in my eyes! Refining Your Psychological Profile w/ Chris Lori - Forex Trading Interview | 76 mins - YouTube (youtube.com/watch?v=HKlv7XLgi5Y) - @ 56:10-58:10, just 2minutes total.
Thanks Chirss K, appreciate that they you highlighted the podcast, made below points:

- equity volatility at specific times which funded programs will consider and it wont matter if ones make 50% in last four months

- lesser the pairs the better, or it will just drain the equity

- for institutional traders 0.50 to 1% per day is good enough as it all scaled according the portfolio one has.

- take profit targets are 1hr to 30M chart for BE i am not sue how from 5TF entries he scales it to 1H for BE for me it is a bit to far, or now markets are very brutal perhaps...

- his stop loss is from 3-15 pips

- used to take 3 positions a day (perhaps only at London/NY open only)

- Entry patterns are same as were on LTF are now on to HTF (as market is fractal)

- when price is rising, he likes to trade reversals from their

- strategy to use manage Ning trades is the same for both short term and long term trades i.e., (taking partials and grow)

- Recommended trading book, Mark Douglas Trading in the zone, (one more which he forgets the name)

- worst trade was with EURO (hold a losing trades around 19 pips, it seems didnt follow risk management)

- One piece of advice; engage in a developing process don't get ahead of you market will going to correct us otherwise, invest time intron of computer and be productive, don't waste time (perhaps over netflix, political shws perhaps)

- his advice is to Master support and resistance, their is structure in it not just support resistance, pick on type of SR and interact with price watch what price does, and when price behavior changes and once we see that we cant unsee ... dont rush to make money now just be patient and you will actually see things existed and you see things that you dont know existed -- - daily high/lows, not arived at a big figure for a few days

regards
bilal
"Exchange of hands"
  • #1,158
  • Feb 18, 2022 12:33am Feb 18, 2022 12:33am
Quoting bilal1947
{quote} Thanks Chirss K, appreciate that they you highlighted the podcast, made below points: - equity volatility at specific times which funded programs will consider and it wont matter if ones make 50% in last four months
Bullshit. 100% at least. That will be ZERO. Less than 100% equal to LOSS.

Quoting bilal1947
- lesser the pairs the better, or it will just drain the equity
Bullshit. In this logic 0 pairs trading must be extremely profitable. No equity drain at all.

Quoting bilal1947
- for institutional traders 0.50 to 1% per day is good enough as it all scaled according the portfolio one has.
Bullshit. Profit depends on market conditions. It can be 10% today and then 0.15% all next week. It can't be 0.5-1% per day.

Quoting bilal1947
- take profit targets are 1hr to 30M chart for BE i am not sue how from 5TF entries he scales it to 1H for BE for me it is a bit to far, or now markets are very brutal perhaps...
Bullshit. 1h and 30m TF on forex are the worst, because of data corruption because of sessions, weekends, holidays and so on. This guy need to study how indicators works first.

Quoting bilal1947
- his stop loss is from 3-15 pips
Bullshit. SL can't be static. It depends on market conditions. Using static SL has no positive expectation with any RRR due to spread, swap, fees, slippages.

Quoting bilal1947
- used to take 3 positions a day (perhaps only at London/NY open only)
Bullshit. Why not 4 or 132? Number of trades depends on market conditions and it can't be static.

Quoting bilal1947
- Entry patterns are same as were on LTF are now on to HTF (as market is fractal)
Bullshit. There are no "entry patterns" in real time. They exist only in the past. You can change the "entry pattern" with your 0.01 lot size. This is the main forex fake trigger. If "guru" is talking like that that mean he is fake mentor.

Quoting bilal1947
- when price is rising, he likes to trade reversals from their
Bullshit. When price rises it will smash you with your "reversals". You should wait until next cycle (distribution) starts, or trade with the trend only.

Quoting bilal1947
- his advice is to Master support and resistance, their is structure in it not just support resistance, pick on type of SR and interact with price watch what price does, and when price behavior changes and once we see that we cant unsee ...
Bullshit. Bullshit. Bullshit. The worst lie. The biggest delusion. Unprofessionalism 100 lvl. Determine SR level with no data is quackery.

---

That is really great example of forex "education". Purest quackery, unprofessionalism, loud statement, direct lie and complete misunderstanding of how the market works.
Observer effect
  • #1,159
  • Feb 18, 2022 12:51am Feb 18, 2022 12:51am
Quoting ryuryu
{quote} Bullshit. 100% at least. That will be ZERO. Less than 100% equal to LOSS. {quote} Bullshit. In this logic 0 pairs trading must be extremely profitable. No equity drain at all. {quote} Bullshit. Profit depends on market conditions. It can be 10% today and then 0.15% all next week. It can't be 0.5-1% per day. {quote} Bullshit. 1h and 30m TF on forex are the worst, because of data corruption because of sessions, weekends, holidays and so on. This guy need to study how indicators works first. {quote} Bullshit. SL can't be static. It depends...
i respect your opinion that you donot agree to Chri Lori , wishing you good luck and good trading as always !

regards
bilal
"Exchange of hands"
  • #1,160
  • Edited 5:21am Feb 18, 2022 4:52am | Edited 5:21am
Quoting ryuryu
{quote} Bullshit. 100% at least. That will be ZERO. Less than 100% equal to LOSS. {quote} Bullshit. In this logic 0 pairs trading must be extremely profitable. No equity drain at all. {quote} Bullshit. Profit depends on market conditions. It can be 10% today and then 0.15% all next week. It can't be 0.5-1% per day. {quote} Bullshit. 1h and 30m TF on forex are the worst, because of data corruption because of sessions, weekends, holidays and so on. This guy need to study how indicators works first. {quote} Bullshit. SL can't be static. It depends...
Heyho,


Why so aggressive context? So much bullshits, really? Have You watched/listened to the video? No.. Then why talk?
First of all to note - we are talking about pure price action, not algorithmic automated trading. To actually understand why price moves certain way and behaves like that in certain areas and then take advatange of these moves by following a previously backtested, forwardtested (few hundred+/1k+ trades) and successful working pattern/price behaviour that one has adjusted for hes own needs/style and that he can comfortable use and be profitable in the long run.

Not sure if Youre trolling or not and if its even worth trying to explain .. but for the sake of discussion I try still since I shared the link to the YT vid. I dont "neccessary agree" with exactly all the points as well, just because people are different, give 10 people same instructions/guide (dont have to be trading related) and they all can trade/absorb it differently. Its about finding things that work for You and fit Your style! Theres some valuable information there, if youre open minded enough to see, filter it out and absorb it then You will understand, if not and you wanna be desperate about it, blame others - "fake mentors, gurus" You will, no doubt in that! Im not saying there isnt fake mentors or gurus, definetly there is. But even if one is "fake mentor" he might have something You didnt know still! But most of the people egos nowadays are too big too see it, they want results from nothing, not even putting a single minute work in then compare eachother, put one into pedestal, argue, show frustration over nonsense etc etc.. todays sociality..
Anyways back to topic..


Quoting ryuryu
{quote} Bullshit. 100% at least. That will be ZERO. Less than 100% equal to LOSS.
"If Your equity volatility is high/outside of "tight parameter". BECAUSE every/most traders will go through period of losses. If youre trading and You have high equitiy volatility, You might be profitable in the short run yes but if You happen to get maybe clusters of bad luck 4-5 times (losses) - That means Youre going into drawdown thats going to break pshyological thresholds Your not able to recover from."
What he probably meant with that is You have high chance of blowing up Your account/making decision based off emotional thinking (+e.g risking now 5% instead of 2% after loss) by not following Your gameplan/strategy. If youre getting those clusters of 4-5 or even 7-8 losses in a row and that is possible with even a 70-80% winrate strategy, just a numbers game. 5 losses in a row and a person might think its their fault/"strategy has to be changed", even though in the long run they are profitable. Know when to pass/stay out of the market when conditions change!
This is what i meant with that Youtube link mostly!!

Quoting ryuryu
Bullshit. In this logic 0 pairs trading must be extremely profitable. No equity drain at all.
Obviously he didnt mean 0, comon man thats just childish and word picking.. I used to do that last time probably in kindergarten too.
But for the sake of context. Can relate to life as well .. focus on 1-2 things at life (or pairs) at a time instead of 10 things at a time, which results is most likely to become better off? Obviously the thing Youre most focused on, thats nobrainer..

Quoting ryuryu
"Bullshit. Profit depends on market conditions. It can be 10% today and then 0.15% all next week. It can't be 0.5-1% per day."
He clearly said "I never like to have numbers in mind, in term of goal, percentage etc.." Cause we know its different every week, month.. what matters is consistency. Obviously You cant force something (market conditions) that You dont have the power of and You take what market is willing to offer You.


Quoting ryuryu
Bullshit. 1h and 30m TF on forex are the worst, because of data corruption because of sessions, weekends, holidays and so on. This guy need to study how indicators works first.
What indicators? From what I know hes trading purely off price action.
As market is fractal - every timeframe has its place and role .. just at the right place and time. 1h and 30m are good and nice to have timeframes. I fell in love with 30m recently but both of these are like a sweet spot of between too high (daily, weekly) and too low (30sec/1m/5m etc) Im not sure where such a hate comes from. Did someone touch Your nerve, bad experiences? If one knows what hes doing/has the experience & skillset then give him just one timeframe, just one - be it daily or even as low as 30sec timeframe, only one and he can still be profitable.. If I would have the option to pick only one timeframe then it would be probably 30m or 1h as it can show you both daily and weekly levels clearly along with short term (1-5minute candles movement). You can kind of figure out what lower timeframes candles are doing if Youre really watching price live on these timeframes and executing based off price action behaviour.


Quoting ryuryu
Bullshit. There are no "entry patterns" in real time. They exist only in the past. You can change the "entry pattern" with your 0.01 lot size. This is the main forex fake trigger. If "guru" is talking like that that mean he is fake mentor.
Yes there is entry patterns/price behaviour that repeat over and over again especially the ones timed with time and price or lets call them then "entry confirmations in certain market cycles/phases". And yes, one has the ability to identify when one begins and ends. Now the question is does one actually has the balls to execute the trade? At first no ofcourse but after one sees certain price behaviour every day, week then it builds up the confidence to execute all over again without thinking too much. You do something all over again/practise something and eventually You will get good/better at it, thats how life works as well.

Quoting ryuryu
Bullshit. When price rises it will smash you with your "reversals". You should wait until next cycle (distribution) starts, or trade with the trend only.
Thats exactly what He meant! You wait for Your confirmation.
"You wait for order flow change, we dont chase price, we trade into a price move" - quote from one of hes older Youtube videos called "Taking entries".
Makes sense? Also keep in mind .. trend is Your friend, until it ends..

Quoting ryuryu
Bullshit. Bullshit. Bullshit. The worst lie. The biggest delusion. Unprofessionalism 100 lvl. Determine SR level with no data is quackery.
?? thef did I just read?? Pure comedy

Quoting ryuryu
That is really great example of forex "education". Purest quackery, unprofessionalism, loud statement, direct lie and complete misunderstanding of how the market works.
Missed a few simple points as theres no point to waste time and type them off for You when You havent put effort to even watch/listen to the video..

Il leave this here as a finisher ..

"If You resent and Youre jealous of people who have success, prospeity, money and wealth, You will reject that away from Yourself!"
Law of the Universe here mate .. argue/discuss/point out how much You want, its still there and will be!

Quoting bilal1947
{quote} i respect your opinion that you donot agree to Chri Lori , wishing you good luck and good trading as always ! regards bilal


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Have a good weekened, enjoy the weather! Suns out already I see, so lets take them guns out as well and kick some workout in to get the weekened started!

Regards,
Chriss K
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