.. of losing in forex, the lack of help, the industry.. general global situation. I started my forex journey for the lifestyle, that is; I want my life back. I'm tired of the new world order and just want a pure and simple life. I'm not interested in working for a boss. I'm interested in simply being normal.
I'd like to buy a plot of land to build a house with a garden so I can grow my own vegetables. I don't think that's too much to ask.
This strategy is an accumulation of knowledge that I've gained in the 2.5 years I've been involved in Forex. In the beginning I would've disregarded the idea of sharing any knowledge for it was I who discovered it. I've come to realise that's total BS. There used to be an air of secrecy around strategies.. Not anymore. I've spent a couple thousand bucks on Forex education and am still not profitable. Let alone the amount of hours I've burned infront of the chart.. You can learn everything and still be a bad trader. Don't believe what any mentors tell you. Maybe you'll get a good strategy out of them.. but ultimately, you have to click the button. Nobody teaches that. You need a bloody good reason to put some money on the table. A simple structural pattern on EU with MTF analysis is not good enough.
Why zero dollar?
Because the dollar apparently controls everything on this rock. So, I have removed it. There is a brief moment when I glance at it but the strategy does not involve the USD. (because it's already involved.. It's so messed up really).
There are a couple main points:
- Session time.
I always want to pair an active market with an inactive market. Ie. EURAUD
A pair like this can be traded during any session.
If you trade EURUSD, both markets are open, everyone is trading it, the volatility is too much and you'll always get shaken out. OR, nothing happens atall. Because king dollar is virtually always strong.. How can you Buy EU. Think about it.
I know you can get good scalps if you hone in and have a good understanding of BMS/SMS blablabla -enter $1.5k strategy here- but I'm not here to sit at the charts all day. It's about the lifestyle. I wanna put on a realistic position in one particular session and check it again in the next session. We buy a strong currency and sell a weak currency.
- Safe Havens
We look at Swiss Franc and the Yen.
So, this can be called step 1. Check CHF/JPY.
We're trading the euro area against australasia. So, check the flow between these two. The euro area is (for the sake of this idea) the Euro and the Pound. Australasia = Australia & New Zealand. EUR/GBP, AUD/NZD. Use google to find the significant relation between these zones and the British Empire.
- That's the hard part done. Basic currency strength analysis.
Any analysis that happens now is done primarily on the Daily chart, using the Weekly for confluence (check at end of each week). Entries should be based on 6H/4H/1H. Nothing lower.
Let's say CHF/JPY is up - how is it up? You can trawl youtube for sms/bms strategies based on ICT teachings. Nothing is a secret. Don't pay for any mentors.
So, CHF is strong. JPY is weak. We wanna buy the Euro area.
EUR/GBP is down, more specifically we wanna buy the GBP.
AUD/NZD is up. We're selling Australasian area, more specifically NZD.
Boom, weekly bias is to Buy GBP/NZD. Take a look at the charts - it's happening right now.
The final (optional) point once you have this bias is to confirm it with the USD.
Simply Check GBP/USD & NZD/USD for apparent strength/weakness to confirm your idea.
Any entry can and should be taken based on premium/discount zones of the present Daily range. If you don't understand that.. youtube. Or find the various leaks online of mentors ridiculously priced courses. ICT has a great free youtube mentorship available that is destroying all these mentors right now.
That's really it. Don't be scared of putting a big stop loss. Use limit orders. Go easy.
Let me know what you think.
Rage Against The Machine - People of the Sun (Official HD Video) - YouTube