Rekon Xs and Market Scanner for Spot and Binary Options

Once I convinced with daily trend for GBP pairs, I considered rescanning only GBP pairs for the hour.

Easy catch!

I prefer scalping like this. Do not need to seat all day long, At a time one or two trade. Further if you want to seat for 1 hour to 2 hour session just repeat the steps.

Market Scanner success rate is going to go higher exponentially!

This is going to be a long term project, however now-a-days brokers are coming with CFD options and in future Market scanner will take input from the installed MT4 only to avoid data delay. For Market Scanner Users, you can try a demo of InstaForex and try the stocks binary with MT4 chart.

In case you are opening an account with InstaForex, please put affiliate code IHEV . Thanks.

Do's for Market Scanner Users

1. Win Rate % : Are you regularly keeping record of your win and loss. What is the Win Rate % for you now?
2. Risk Table : Have you planned a Risk Table for the trading month?
3. Favourite set of instruments: how many instruments you have in the favourite portfolio?
4. Excluded set of Instruments: Which instrument is not performing well for you?

Don'ts for Market Scanner Users

1. Do you over trade?
2. Are you continuously trading the non-performers?
3. Are you overlooking reading the technical studies?
4. Are you trading in critical new hours.
5. Are you trading in non performing market?
6. Are you trading in off-market hours?

Market Scanner's new interface is going to be like this. Where we will have 3 boxes to save instruments and run scan on a single portfolio or multiple. Expected that it will save some of our time.

Thanks to one of the users of Market Scanner for the suggestion. We all should have the updated version by next week.

Lets check out the Market!

A very poor performing market.

I rescanned with Aud pairs and USD/NOK, based on Daily Signals as posted on the above thread.

Now, only consider USD/NOK to watch,

on daily it has 2 oversold signals, suggesting price weakness on trend. ATR is low.

on hourly all technicals are down but ATR is high. It suggests IT might try to go higher, retrace up, or a higher price will attract more sellers.

Now we need rekonX template for entry.

So, I took a quick scalp on USD/NOK by taking the best odd of price retracement up.

Now, as a trading strategy we can do two things

A. We can place pending orders by reading Market Scanner / rekonX suggested levels.
B. We can do scalping just as I did.

C. We should not do binary in a poor performing market.

This thread is about to close


I am here in FF for last 5 years, I always wished somebody / some thread provide me opportunity to learn forex trading in correct way because as a part time trader I have lots of constraint and every-time as a part timer I enter this market I know how much vulnerability and risk I carry by doing that.

So, till date there is not a single thread which is working for providing a solution to mainly the part time traders to address and mitigate the risks they take everyday on part-time trading.

I have only tried to innovate a solution for this and this is working fine.


Somebody from FF complaint that I am selling softwares here, it is very obvious that I refused to give away all my hard work for free so the person complaint. However, that results that I might need to stop my information sharing here.

In case the other users of Market Scanners, taking any trades using the application they can continue and post here for success / failure/ doubt or anything.

I want to end this by concluding, if you are successful or want to be successful you must have an analytical mind and sharing attitude and that will make you different from the other losers specially who are lurking always for free goodies here in FF.

Best Regards,
Rekon

First of all, although I am new to this thread, I think I speak for all of us here at FF that you cannot leave this thread rekon!!!

I've just subscribed and, to be honest, of all the threads I am subscribed to, this is the one I get the most excited about. I just discovered this thread a few days ago and already I find it unbelievable that you developed this market scanning software yourself, and I admire you for that. I am a programmer myself trying to work on a similar piece of software, but for FX not options (yet), so I know just how difficult it must have been to develop.

If my opinion means anything, I would urge you to reconsider abandoning this thread as I truly believe you are on to something unique here, and I would love to be a part of it in any way, shape, or form.

Whether you know it or not, there are many of us here at The Factory that are counting on your success, and it is specifically because of the willingness of people like you that we can all learn and grow together. I am certain that whatever system you've presented here is one-of-a-kind (I seriously have never seen a tool that was designed specifically for binary options... and I LOVE that aspect of it) and so I just want you to know that your work inspires people like me, and it would be a shame to put an end to that.

So, pleeeeeease, keep on, keepin' on!

Thx bud! You are vouching me without using the application by yourself. That feels amazing! The more positiveness will come once the actual users will start sharing there experience. Next 2 - 3 weeks I will be focusing mainly to train the users. I am sure when the people start acting as a group there will be a boosting of positive attitude. I need an environment where people will become traders and only discuss about trading methods and strategies. A big game is still pending - winning your broker so dont waste time on judging and complaining individuals, thats very non productive. With that, I just want to include how you see the trading - is that a business for you which you want to do seriously or it is only your gambling hobby?

I have been trying the available trading options by applying MS Method, so publishing the result so far on 5 trades each. Next is I am going to take each section of trading strategies for one complete week and trade with the same method, goal is at the same time I will be fine tuning the method. Participation is welcome.

Spot H4 And Above

I would like to start with Spot H4. The method will be as below. We need to carefully note down the win-rate % for the week. A good win rate on spot will automatically boost your confidence on binary, However, Binary is a different ball game but win-rate % is primary requirement for binary.

Method:

1. With Trend Entry no counter.
2. Profit Target = Opening Price - Closing Price [in future MS will be able to give us a Target]
3. Fib Levels Entry (we will try to get a good entry by reading the fib points on H5 for H4)
4. Fib Levels Exit (We will try to exit if the price is in extreme zone.
5. Stop for Sale 10 points above R3, for Buy 10 points below S3.


Lets Scan!

Daily Scan : High Performing Market.

Next Scan will be only on instruments which are trending on Daily. So scanning for H5.

I now need to do scanning in smaller Time frames to validate whether the instrument is agreeing the trend with the Higher timeframes. So here is M30 Scan.