The most honest forex review and tips to be successful

My most honest trading review.


This is from 5 years of experience and well over 10k worth of losses. I want to give you guys my experience and tell you what i've learned from trading so far. I am only going to give you the most real knowledge and my personal understanding of this.

Sit tight! Your video edits are about 32% done. Come back to this page in a little while.

In video part 2, i meant to say " monthly time frame"

Here is an update from my earlier trades i took when i shot this video.. i started with 90 cents...

Good stuff. Subscribed and looking forward to the content.

Thanks for the support !

I've set my TF to the monthly and now i'm just riding the wave.

Here's the update from the close today. I am leaving my trades open for the next 3 weeks

I think the lower the TF, the more chaotic things get. I went to the absolute max and put my TF to the MN1 for all the pairs. (no CHF) and completely eliminated any noise at all. These MM's are chilling on those higher TF's only. They love to invest because not only do they get paid from the trade but they also get massive amounts from the swaps. I think most companies would prefer to hedge into a pair with a high interest rate. This is why they would be investors instead of traders. I wouldn't mistake any bank as just some normal trader.

Every now and again you'll hear about these day traders who are making hundreds of dollars a day or whatever.. it's pure B.S. in my opinion. Most of these guys are either well invested long before they even got into day trading, or they are just full of it.

In any case. Just keep an eye on the highest TF you can go.. It will save tons of stress and heart ache.

My strategy for now is using the 2 period LWMA set to " open " on the monthly. As i explained in my videos.

Goin to bed, Hope you guys have a great weekend !

Subscribed , Also loss so much to $90 , and now it is $212 on D1 , Surprise u dont use S/L , What if it goes very fast against u , Now i will trade on W1 , But my set up is different from urs ,

Subscribed, i need enlightenment

That's a shit load of pips right there.
Awesome videos man love the commentary haha. A lot of truthful info right here.

Now that you've moved up to the monthly timeframe, would you ever consider going back to the smaller timeframes?

PS: Post up your template for us and more videos man!

I know how you feel. I've lost over 10k from trading forex over the past 4 - 5 years. It was horrible for a while there. As far as my trading strategy goes, I would have to open another thread in the trading systems forum.

Thank you Hope we can exchange some great ideas here.

For sure man. When you ride the trend you get massive pips easily. The trick is to control yourself and don't get scared. That is the hardest part of this game. Thanks lol, i do have quite a bit to say about these thieving pricks. Yeah i will never go back to the smaller TF's . There is no use. If you want to get a better idea of what's going on, then stick to the monthly. Try this.. Put a 2 period LWMA on the monthly(This is the real trend). If price is above it.. Take a long trade.. If price is below, Take a short trade. Pretty simple when you think about it, However if you get to a monthly chart that has a BIG vector candle(engulfing) that has already moved well over a few hundred pips(depending on the pair) then you'll want to stay away from it. Just wait till the next month. Don't worry there are always trades somewhere. Yeah sure i'll put my template up for you guys and my indi's and whatever other tools you guys want. I've got some very cool shit here. Thanks for the comment, You inspire me to make more vids

Just a simple note for trading on a monthly, weekly, or daily scale.


When trading on a higher TF, looking for an entry can be a massive bitch. You have to deal with horrible DD that could potentially kill you off. So here's a little trick to trading with the big boys.

 

1. Put your (investment) trades in during the London session at the end of the week. For me, Since i live in California i would put these trades in between Thursday night, 10pm PST - 3am PST Friday Morning.

1. The majority of the moves come after "Hump" Day This is usually when we reach the "Distribution" phase. Let me explain: You could consider the beginning of the week (for me this is Sunday/Monday) as phase one in the market cycle, which is "Accumulation". Tuesday in this regard would be the "Mark Up" phase. Wednesday would be "Distribution". Thursday and Friday count for mark down and the cycle starts all over again.

1. Taking your trades at the end of the week guarantees you to be in positive equity 98% of the time. Great starting point huh ?

So with these few tips, i hope you gained some great knowledge of how the cycle works and how you can benefit from these cycles as well. Remember, Take your trades between 10pm PST - 3am PST at the END of the week. This will give you a nice little nudge into the right direction and within a very short period of time. If you decide to ride it until the end, You have the entire month to hold on to your trade.

I took some trades late last week during this period. I went from 94 cents to like 6 bucks. This is a nice boost to get me into the trend. You could think about it as like jumping onto a train on your way home.

Hope you guys have a great weekend !

Josh

Here's the template i use.

The indicators are from the Sonic R. System which can be found here:

Sonic R System
These guys work very hard at what they do. They are a mass of scalpers with very few investors, so you know their job is very stressful. Sitting on a 15m TF can guarantee a heart attack in ANY market. Much respect to Sonic and TAH for all their hard work.
http://www.forexfactory.com/showthread.php?t=114792


Steve Hopwood Forex
The idea for the 2 period LWMA comes from the elite trading forum of Steve Hopwood. These guys are pure genius. I seriously have never met anyone as intelligent, well rounded and structured as these guys. They are more than willing to help you with any problem you have at any point in time. Great guys and Much respect. You can read up on the ideas and strategies of this method here:
http://www.stevehopwoodforex.com/php...forum.php?f=38


Supply and demand in a nutshell by Alfonso Moreno
The master of the higher TF. Alfonso Demands the most profitable and consistent results from his trades.
If anyone can tame the beast, it's this guy for sure. Trading on monthly, weekly and daily to achieve his results. This guys is a freakin Master.
http://www.forexfactory.com/showthread.php?t=428204


And as an added bonus:

Trading Made Simple
A very old system, and very well thought out. Like most other systems they have a standard oscillator they use for measuring strength in the markets. I traded with these guys for a few years but my own personal trading strategies and nerves can't really keep up. These guys have real talent to be able to keep up with the markets on such a small TF.
http://www.forexfactory.com/showthread.php?t=291622


These are some of my fav places to visit for indi's, knowledge and the most powerful trading systems imaginable.

If you guys are worried about opening a trade based on just the monthly. Don't stress, no hard feelings if you jump down to a daily to get a better confirmation. But don't rely on the daily as your base TF. Stick to the monthly because this is where the big boys are.

Here's a bit of an example i made up for you guys

Hi ! Thanks for the thread allisonmagic! I have a question.. I see you dont use stop loss, how dou you control your losses? And when dou you know that you have to cut or close the trade? Sorry for my English! thank you!!

Alison Could u please change ex4 to mq4 because ex4 does nt work on suffix ,

Hello. I am new to Forex. I have been studying the market and find it very fascinating. In the last week I have been using demo accounts and was averaging an insane 48% a day in my account. Felt like hitting the lottery. So very happy!

Friday I put in 24 dollars of real money this time and came out about 21% ahead. But the thing is I made 70 some trades and only 2 were negative. I don't ever use stops or limits because I'm always at the computer doing the clicking when I feel like the orders need to be closed. Some how this all works for me and I still have a lot to learn about this market.

I posted my Friday account Oanda statement below to show I'm being completely honest. I know everyday probably wont be like this but it seems like I could have something special going. I have my account listed in trade explorer. I had an insane 61 consecutive win streak!

ANY ADVICE WOULD BE GREATLY APPRECIATED TO THIS NEWBIE!!! I don't have much money to blow or experiment with at the moment...

my first day of real money. around 450 pip profit day. 73 positive trades. 2 negative. It only made my $24 starting balance go up to $29 but it did feel VERY good! I'm going to spend the next week trying to grow this balance until I get more confidant to put in more money. I'm a student so if I have the ability to turn this into a steady income that would be great.

You have a long, long way to go my friend.