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Have I found something useful, or is this time wasting?

  • #41
  • Feb 11, 2022 3:58pm Feb 11, 2022 3:58pm
Quoting aalaarajy
{quote} could you please explain this further? I could not understand what you meant about the price and value points
The price point becomes erelevent, concentrate on the % of price reversal. This will always become efficient, the price becomes quite erelevent. Not sure many will understand this .the only true constant is efficient market.

If you are not trading fundamental then you can only trade the probability change,which occurs on your original theory of the exuagtion of energy,
  • #42
  • Feb 13, 2022 12:28pm Feb 13, 2022 12:28pm
So, what do you think about the building tensions between Nato&USA and Russia? Will they affect the market so the prices begin to dance up and down like a crazy that do not know how to dance on a dance flor, or just normal 200/300 pips up and down?
I am worried about my real account that I have started last week. Maybe it will fly high because of these worrying news. Or no reason to worry?

If only 200/300 pips I feel in control. Anything above this will make me loos control about my new strategy that I have began to work with.
  • #43
  • Feb 17, 2022 1:56am Feb 17, 2022 1:56am
Quoting aalaarajy
So, what do you think about the building tensions between Nato&USA and Russia? Will they affect the market so the prices begin to dance up and down like a crazy that do not know how to dance on a dance flor, or just normal 200/300 pips up and down? I am worried about my real account that I have started last week. Maybe it will fly high because of these worrying news. Or no reason to worry? If only 200/300 pips I feel in control. Anything above this will make me loos control about my new strategy that I have began to work with.

Volatility Volatility Volatility the more the better
  • #44
  • Feb 18, 2022 12:08pm Feb 18, 2022 12:08pm
So, I like to hear more inputs, comments and suggestions. I hope if you are scrolling through this topic you will drop your opinion before you move on.
  • #45
  • Feb 21, 2022 12:13pm Feb 21, 2022 12:13pm
I still like to know your thoughts, ideas, comments and valuable suggestions to make this strategy better.
Also, if anyone is able - and have the time and interest - to put this into a code for me, I will highly appreciate it.

Also, if you can recommend me a good website where I can learn the mql4 coding with basic explainations and mostly text. Not pictures and videoss. I hope if you know a well written tutorial for mql4 programming you will tell me. Because I think I am able to learn it since it is just typing commands like typing in the note-wordpad aplication.
  • #46
  • Feb 21, 2022 4:26pm Feb 21, 2022 4:26pm
Hey,
Seeing as you asked, I thought I'd drop my view here..
Your idea seems complicated and very hard to achieve something consistent.
if there's a way for you to get an alert system set up from a supply and demand indicator? maybe you could use a zig zag indicator on H1 and a supply and demand indicator on H4.. That would be some good training, but still.. very complicated with you not being able to see. I do think supply and demand alerts could help get you in the right place though.
Sorry I can't be of much help,
Good luck.
  • #47
  • Feb 22, 2022 11:45am Feb 22, 2022 11:45am
Quoting Octapad
Hey, Seeing as you asked, I thought I'd drop my view here.. Your idea seems complicated and very hard to achieve something consistent. if there's a way for you to get an alert system set up from a supply and demand indicator? maybe you could use a zig zag indicator on H1 and a supply and demand indicator on H4.. That would be some good training, but still.. very complicated with you not being able to see. I do think supply and demand alerts could help get you in the right place though. Sorry I can't be of much help, Good luck.
Thanks for your suggestion. You are right it is very difficult, but I am trying in the hope of finding some sort of strategy that only depend on numbers.
What keeps me staying in this market is all these tons of possibilities and probabilities for profiting. And because so far manually this strategy is doing well. Another strategy that I am playing with since yesterday have so far also not disapointed me. But this is just a theory I have that I am trying since the beginning of this week.I am though began to be tired of these uncertainty that come along with these probabilities.

But thanks again. I like to hear more comments and suggestions from other as well.
  • #48
  • Feb 22, 2022 3:47pm Feb 22, 2022 3:47pm
Quoting aalaarajy
{quote} Ok, I have not paid enough attention to your grate and valuable input. To be honest I have tried to ask myself all these questions you mentioned. To be honest my answer is all the time: "This is a possibility, no more, or less." The problem is even people that call them self experienced do not have a clear answer about how this market have to be dealt with. I thought in the beginning when I found this Forex market that this is a work where you have specific rules and methods to get to work there. After all these years since 2018 until now...
Sorry mate for my late reply. Price is what you should spend your time studying, not youtube or any other promoted product; although quickly skimming through some carefully selected sources could give ideas, and these should be immediately put into practice and observed scientifically through +10 years of price.

Sorry for my ignorance, but I think it would help to know how you can work, and also what you know you can do or cannot do. Also, how do you analyze price with your blindness? Can you analyze actual charts? Do you have to have everything read to you? Perhaps it is not at all possible for you since this takes a lot of analyzing of many forms... Not that it matters because there are many ways to make a pie, but have you considered any of my other tips?

And Last but not least, have you made progress since you created this thread and, if so, what is it?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #49
  • Feb 26, 2022 6:29am Feb 26, 2022 6:29am
Quoting mtako
{quote} Sorry mate for my late reply. Price is what you should spend your time studying, not youtube or any other promoted product; although quickly skimming through some carefully selected sources could give ideas, and these should be immediately put into practice and observed scientifically through +10 years of price. Sorry for my ignorance, but I think it would help to know how you can work, and also what you know you can do or cannot do. Also, how do you analyze price with your blindness? Can you analyze actual charts? Do you have to have everything...
Yes you are right. To know what to do is the keypoint in any project you might have in mind. But the problem with this market is also those that know what to do is also just dealing with probabilities. So, what I am doing is trying to find out if I can find a profitable probaibility with just numbers.
What I am actually doing to analyse the price actions is using the investing.com historical data, since they are presented in a way my screen reader can read them up for me. And what I came up with will only need from me is to increase and decrease the period of these data to find the range out of them.

So far I have not beeing wiser since all the losses I have suffered I have considered they are because the Ukraine/Russia war, so I will not consider this weeks losses. And they are afterall not so many since I was only trading 8 pairs, that two out of them hit SL and one TP and the rest is making a nice drodown. So I cannot talk about my success or faleore before three months from now on.
  • #50
  • Mar 1, 2022 7:10am Mar 1, 2022 7:10am
Is this all the inputs I can get from you? I hope more perspectives will be discussed about how to make this better. Or also even discouraging thoughts is welcome.
  • #51
  • Mar 2, 2022 12:49pm Mar 2, 2022 12:49pm
When talking about price levels, what exactly do we mean with it? Any kind of price that is meeting specific indicator conditions? I mean is price levels what indicators detect, like RSI if it show a sell entry. Is this a price level?
Is there other methods to detect price levels?
  • #52
  • Edited 6:21am Mar 5, 2022 4:39am | Edited 6:21am
So this week has been the worst week for my strategy. I know if you ask a fundamental analysist, he will tell you that you have to go short with all the pairs I have went long with due to the Russia/Ukraine war and all the tensions building in the Europe and the United States. GBPAUD, GBPNZD, EURAUD, EURNZD, GBPJPY, GBPUSD, GBPCAD.
you might ask me if I know this about the fundamental analysis, why I have went with my strategy so faithfully? Well, because I am now in the testing phase of this strategy. And the conditions for those pairs was buy since there was more than 600 pips from the highest price. And also because this is the only time the fundamental analysis is so clear and someone like me is able to detect it. In other situations I might do not know anything about the fundamental analysis and what is saying about the different trading instruments. So I went with the technical analysis, or my own special price action strategy, to find out if it can survive or not.
so, now, I am 1400 pips in-loss. This will be very hard to recover from, but I will continue with this strategy until death to find out if this is something I can rely on, or just wasting of my time. And yours of course since you are reading this.
  • #53
  • Mar 6, 2022 10:03am Mar 6, 2022 10:03am
The MetaTrader 4 application iPhone version is the best accessible version of the app I can use with my built-in screen reader. There I can even read some data out of the charts like the highest price and the lowest price and the close price and the opening price. The problem though is those data will be presented for just one candle. So if you put the timeframe to the one hour timeframe, you will only get the data for the last one hour. If you put it to the daily, you will get the data for only The last day. This is the case for the weekly and monthly timeframe. My question to you is, do you know any method to extract more candles to the charts in the iPhone version so the data provided there will be for as many candles as I want from this chosen timeframe?
  • #54
  • Mar 7, 2022 7:35am Mar 7, 2022 7:35am
Quoting aalaarajy
{quote} So far I have not beeing wiser since all the losses I have suffered I have considered they are because the Ukraine/Russia war, so I will not consider this weeks losses.
In contrast this week has been one of the best weeks for me because of the war. What you are saying is an excuse and global events shouldnt affect your strategy at all, if you have a profitable strategy which you dont.

I can guarantee you that you will never make money with your strategy. You are thinking too much of what price should do instead of seeing what price is doing. Try following the market. Do what the market does, if you see it going up find a buy setup, if you see it go down find a sell setup. Literally just follow price and that is all you need to do to be profitable.
  • #55
  • Mar 10, 2022 8:05am Mar 10, 2022 8:05am
[quote=trickshady;13923319]{quote} ]

Thanks for your grate input.
Well, I have really heard this over and over. Follow the market. The trend is your friend. Do what the market do and not what you think it should do.
So, how can I manage to do this with just numbers? Do you think this is possible for me to find out what the market is now doing with just numbers?

I am thinking to change my strategy so I will always follow what the trend is instead for considering pull backs.

So, think about this:
I open the historical data for a trading instrument and read the last two weeks price movements. Let us say now we are talking about the GBPUSD in the last two weeks. I found out that the highest price was 1.343, and the lowest price is 1.3087. Well then. Now we have a range that is 343 pips. And the actual price right now is 1.316.
So, yeeeaaaaahhh, We are still in a sell trend, and our instrument has even been kind and reversed a little so we can enter a sell trade and we are happy and relaxed that it will continue its journey down. Our SL and TP will be 135 pips. Could you guess why? Well, it is because this 135 pips is 50% of the rest of the range. The pull back was 73 from the lowest price, so the rest is 270 pips to the highest price. We take 50% of those 270 as our SL/TP. If we hit an SL then we consider that the trend has changed to a buy since now our pull back is 208 out of those 343 pips.

Shortly: We look at the last two weeks. Find out what is the overall range the pair has ranged in. Then we look at the actual price right now. If it is in the bottom or top of this range we wait for a little pull back. If it in the bottom and pull back a percentage that is lower than the 45% of the range, then this is a sell trade. If it is in the top and pull back higher than the 60% then this is a buy trade. The 45%-60% is a no trade zone.

Do you think this will do it for my strategy and make it profitable? Or I am still playing random games with the market?
  • #56
  • Mar 10, 2022 8:10am Mar 10, 2022 8:10am
As an update to my original strategy that I have followed so strictly and faithfully without any changes or modifications. I have now lost more than 70% out of my initial capital. I have lost 7500 pips. This is very much. No way of recovering this loss.

Just wanted to update this topic so you know how this game with the market have went for me.
Now I am making changes to the strategy, but I will keep the main concepts of it.
  • #57
  • Mar 11, 2022 2:53pm Mar 11, 2022 2:53pm
Hey man all those numbers are giving me a headache, i have no idea what you are talking about without a visual. Present your analysis with a chart and i can comment on it.
  • #58
  • Mar 12, 2022 2:26am Mar 12, 2022 2:26am
Hi there,

I’ve been analysing the Forex markets for years and finally worked hard to put together a strategy, so far in the last 6 weeks, I’ve identified 28 trades that meet my entry criteria and had 27 wins and 1 loss, all trades with a 2:1 RR.

My main problem is that the entry is on a 5 minute chart but I want to make it easier to trade without sitting in front of my screen all day.

Does anybody know of anybody who can analyse my trades and look at ways to improve the strategy,

TIA
Gaz
  • #59
  • Mar 12, 2022 5:46am Mar 12, 2022 5:46am
[quote=trickshady;13929809]

Ok man, but thanks because you even commented to begin with.
  • #60
  • Mar 16, 2022 5:04pm Mar 16, 2022 5:04pm
Quoting gazgaz2000
had 27 wins and 1 loss, all trades with a 2:1 RR. Does anybody know of anybody who can analyse my trades and look at ways to improve the strategy
With that winrate at that RR you don't need to improve anything and only need to worry about what island you are going to buy ;-)

Quoting gazgaz2000
I want to make it easier to trade without sitting in front of my screen all day.
Have you considered hiring a coder to create an EA for you? Of course, that is only possible if you have strict black/white rules and do not rely on instinct or gut-feeling to make your trades.
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