What is this video strategy? | Forex Factory

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What is this video strategy?

  • #1
  • First Post: Nov 21, 2013 4:58am Nov 21, 2013 4:58am
Hi, i look on Youtube and i search impresive video, i will share with u. Look on video
and explain me strategy please. Can be works and profitable?

Inserted Video
  • #2
  • Nov 21, 2013 11:00am Nov 21, 2013 11:00am
Can explain me anyone?
  • #3
  • Nov 21, 2013 11:12am Nov 21, 2013 11:12am
If you google the websites name it says service is suspended, that might mean it doesn't work
  • #4
  • Nov 21, 2013 11:14am Nov 21, 2013 11:14am
crap, i'm already working only 6 hours per day.

turn your head else where, remember the ultimate problem in trading (in my mind) is what to do if price goes against you right after your entry!
  • #5
  • Nov 21, 2013 11:25am Nov 21, 2013 11:25am
Quoting charvo
crap, i'm already working only 6 hours per day. turn your head else where, remember the ultimate problem in trading (in my mind) is what to do if price goes against you right after your entry!
Close out for a loss?
  • #6
  • Nov 21, 2013 12:20pm Nov 21, 2013 12:20pm
They look like enlarged 5 minute candles - doesn't seem a bad scalping idea to me - as long as you have correlated movement.
I've got my pips - go get yours!
  • #7
  • Nov 21, 2013 2:43pm Nov 21, 2013 2:43pm
haha, i'm afraid so

my stupidity ( i hate it ) is that i've kept looking for so long for another answer, just can't help it......

in fact, this question is why i can never have confidence in martingale, phantom, pyramid, xxx, yyy, and you know them actually.

Quoting TheMaxx
{quote} Close out for a loss?
  • #8
  • Nov 22, 2013 4:09am Nov 22, 2013 4:09am
Quoting Cheezy
Hi, i look on Youtube and i search impresive video, i will share with u. Look on video and explain me strategy please. Can be works and profitable? http://www.youtube.com/watch?v=r2Z3FsDEDHU
The principle seems quite straightforward, strength vs. weakness.

In the example the USD/CHF is moving up and the GU heading down all indicating USD strength. Because the EG is up, the EUR is stronger than the GBP so he shorts the GU grabs a few pips and gets out.

You can ring the changes on this according to the pattern, if the EG was down then short the EU. Imagine all the original candles reversed and go long on the GU and so and so forth.

Out of curiosity I replicated his charts, the candles were all over the place nowhere as neat and tidy as in the example. Probably will work best in calmer markets.

As to whether it is profitable, as ever that will depend on the trader. You will need the ability to rapidly assess the candles to determine a correct entry and just as importantly know when to take any profits and get out. Also expectancy may be an issue. You may well be able to grab a few pips on a comparatively high percentage of trades but as to whether that would be enough to outweigh the inevitable losses, who knows.

If you want to give it a go this is one for lots of paper trading first.
Too tired to argue. Too old to care.
  • #9
  • Nov 23, 2013 2:31am Nov 23, 2013 2:31am
Quoting davidb
{quote} In the example the USD/CHF is moving up and the GU heading down all indicating USD strength. Because the EG is up, the EUR is stronger than the GBP so he shorts the GU grabs a few pips and gets out.
That's common sense ... and can be done on any timeframe ... not only scalping.
MT4/MT5 EAs/Indicators/Alerts coder
  • #10
  • Nov 23, 2013 5:16am Nov 23, 2013 5:16am
Other example.............

Inserted Video
  • #11
  • Nov 23, 2013 6:57am Nov 23, 2013 6:57am
How he know where price going?
  • #12
  • Nov 23, 2013 7:11am Nov 23, 2013 7:11am
Quoting Cheezy
How he know where price going?
... You opened this thread and you don't even read the comments.

You have the answer in the post #8 by Davidb.
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Nov 23, 2013 7:36am Nov 23, 2013 7:36am
yours for £97

http://web.archive.org/web/201102021...chforex.co.uk/
https://twitter.com/PPF_Forex
http://www.moremoneyreview.com/purpl...iew-18692.html
  • #14
  • Nov 23, 2013 8:05am Nov 23, 2013 8:05am
Quoting Cheezy
How he know where price going?
You have to watch video again...He has two crystal balls custom made in China...You can buy similar on ebay.com but not custom made... just regular...
The Market pays you to be disciplined
  • #15
  • Nov 23, 2013 8:48am Nov 23, 2013 8:48am
Quoting charvo
crap, i'm already working only 6 hours per day. turn your head else where, remember the ultimate problem in trading (in my mind) is what to do if price goes against you right after your entry!
Bravo..!!! as simple as that.

and make sure your system does not generates loads of entry.
Weigh well output the loss and gain And proper action ascertain
  • #16
  • Nov 23, 2013 2:46pm Nov 23, 2013 2:46pm
I must have this software for this strategy? I still dont understand strategy. I still looking for
any strategy good for me, me very like scalping.
  • #17
  • Nov 25, 2013 3:38am Nov 25, 2013 3:38am
Quoting Cheezy
I must have this software for this strategy? I still dont understand strategy. I still looking for any strategy good for me, me very like scalping.
The only software you need is your charting software.

  1. Open four chart windows, one for each pair.
  2. Size them sort of tall and thin. Arrange side by side.
  3. Zoom in each one so it only shows the current candle.
  4. That's it.

The strategy is to use the candle shapes to identify the temporarily strongest and weakest currencies then trade one against the other. So if the USD is the strongest and the GBP the weakest short the GU. That's all there is to it!

With the greatest respect and please don't take offence, if you still can't see what to do you probably are not yet ready to trade as the principle is pretty basic.

Too tired to argue. Too old to care.
  • #18
  • Nov 25, 2013 3:45am Nov 25, 2013 3:45am
The idea of single candle charts piqued my curiosity as I had not come across it before so after my first post I did half a dozen paper trades. The results were four winners and two losers for a grand profit of +1.0 pips.

Now, while I like short term trades, I am by no means a hard core scalper at this level so someone more experienced than me could possibly do much better.

Knowing when to exit the losers is key. There was a very arbitrary SL of 10 pips but both losers were exited well ahead of that. If either or both had hit SL the final position would have been much worse.
Too tired to argue. Too old to care.
  • #19
  • Nov 27, 2013 3:04pm Nov 27, 2013 3:04pm
Quoting davidb
The idea of single candle charts piqued my curiosity as I had not come across it before so after my first post I did half a dozen paper trades. The results were four winners and two losers for a grand profit of +1.0 pips. Now, while I like short term trades, I am by no means a hard core scalper at this level so someone more experienced than me could possibly do much better. Knowing when to exit the losers is key. There was a very arbitrary SL of 10 pips but both losers were exited well ahead of that. If either or both had hit SL the final position...
Purplepatchforex also stated that he trades 1 hr UK open and 1 hr NY open. Did you follow the trading hours rule?
It is hard to access long term profitability without an EA. Knowing that it is profitable for purplepatchforex is a good start.
  • #20
  • Nov 28, 2013 12:51pm Nov 28, 2013 12:51pm
I still dont understand this strategy. Bcz i dont understand spoken english,
i am from czech republic. Can help me anyone in trading? I lost 250usd on HotForex.
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