The One Hidden Key That Turns Any Losing Forex Trading Strategy Into A Perpetual Cash Machine
If you have ever been involved in Forex trading there's no doubt that you have seen many Forex trading strategies and you have no doubt tried using at least a few of them. But what traders quickly discover is that no matter what Forex trading strategy you try it will work great for a while then lose for a while. Of course, any trading strategy will have some losses but there is a fundamental reason why trading strategies go through periods of failure.
Even professional Forex trading experts attribute this constant cycle of winning and losing to market consolidation or "choppy market". That's why a legitimate Forex trading strategy should be based on that very cycle of trending vs. consolidation. By learning to identify these points a trader can develop the skill of entering at the beginning of a trend and exiting at the end of a trend while not trading during the corrections.
It seems obvious and simple. So why does this process elude nearly the entire trading world? In this video, Scott Shubert gives some insight into his highly acclaimed developments and discoveries which some traders around the world are now raving about. "Once you have this breakthrough trading will never be the same again," Scott says. "It is not possible to stop seeing this once you have seen it."
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Many current trading methods are ambiguous and when viewed in hindsight suggest the entry at any point on a curve rather than dive directly into a specific point for actually seeing and understanding the real reason for entry.
Forex Trading Strategy: How to Stop the One Most Overlooked Mistake That Causes Loss
if you are so good at "reading" forex markets then why do you bother with these "lessons" ? is it maybe because the forex completely random and no different to backing a hoarse and your real sorce of income are these "lessons"?
@PaddyBarrett I often hear this from people who have serious issues with unconscious limiting beliefs. The belief is that no human would do anything for any reason other than money. Or that no one would teach how to trade if that person is successful. Once you can realize how ridiculous this belief is consciously then you are on your way hopefully to discovering ways to release that belief at an unconscious level.
It's very easy to look at a chart afterwards and to say: "Look at the points, where you would have entered this trade and find out these points". It is not as easy as you say here in your video. Parabolic SAR doesn't help you too much in this, because it delivers many false signals, and also not Ichimoku, which never gives you the best starting point of a trade (for every timeframe!). With Ichimoku you will get only into trades, which are already running in the direction of the trend. Not to forget, that you get different pictures in every time frame for selling and buying.
@ Rene N. Yes, I agree. That is why it is important to be able to see market turning points before they happen and at the moment they are happening. Ichimoku is a basic trend following indicator which can cause many losses from blindly attempting to enter the continuation of a trend that is not continuing and you will miss trades that are revealed by the normal pattern behaviour. Reading market patterns for me is far superior and more accurate than trend following.
something that works for me, is going in the direction of the trade, once price makes a spike low followed by sharp move against the trend, I draw a trend link from the low across the bottoms of the following up candles "if using candlesticks". Exit my position and wait for the trend line to break before entering again in the direction of the trend using the high of the candle just before the break of the trend line as a stop.
It might take a couple tries, but it will be pretty obvious if price keeps moving back up above the trend line that it is time to sit on the sidelines.
@russellschaeffler That is an interesting approach. Good job with figuring that out! There is one aspect missing that could help improve that and if you draw a trend line on a trend there will only be 2 lows to connect at a sharp angle. When that trend line is broken the trend is over and the correction has started forming.
This video is quite old but I'm guessing you're a big time hedge fund now? no? btw that 'we entered here and exited there' bs you said between 6:00 and 6:30 is total bull! and even if it wasn't (1 time you top ticked and bottom ticked) don't mean shit.. good traders don't nail top and bottom they catch the main move and scale accordingly. This is the kind of stuff made for suckers that have a little money to give away to 'A Winning Strategy!' To all you trader wannabies out there.. if you want to learn a system: make your own and find your own niche. You will never learn from others as much as you can learn from pure experience. Good luck and prepare to pay your market tuition and blow out 1-2 times before you make $
@AngelinGuraj It is common for even seasoned professionals in the trading world to be unaware of how to see tops and bottoms. And I realize that pointing at these places in hindsight does not prove what actually happened. That is why if we were interested in proving what works to others, which I am not really very interested in, we use the testimonials of people who are having success and the results in the accounts. I can definitely relate to the unconscious limiting beliefs that you express here. There are plenty of reasons why people develop these false beliefs and negative beliefs about trading. Being able to realize what works and be positive about your experience is a skill only a few people are able to master.
@Parrot I can relate that it is hard to believe that we can identify those points. Now it seems so obvious to me when a trend forms an end and I am showing it during out live sessions. I assume it is obvious to most of the people in our live sessions as well. But I often have to remind myself what a rare gift it is. Seeing the end of a trend is based several things but there is a distinct visual formation that happens at the end of most trends. I would like to just make a free video and show everyone how to do that. But it is a combination of factors that involve reading the market using a method that requires some practice over time.
I use the entropy method. I learnt from a friend named (a) Paralternativecelsus, he has a book on philosophy of entropy. Meditation and patience! He explained me that market is a chaotic system, but chaos is not total disorder, there is a lot of order in chaos, just a matter to recognize it.
This video alone tells you what you should look for on the charts. It really isn't that hard for you to start seeing the same patterns repeating over and over again. Just a little patience and time...
If you combine the patterns with reasonable money managment...thats it! You've made it...
@LucisFerre1 I couldn't agree more. I see the exact thing you are talking about all the time from "smart" people who constantly look for something more complicated rather than do what we have proven and tested to work better for several years.
Not to oversimplify, but it sounds much like playing craps, in that the more complicated people make it, (and they do insist on making it), with their "intelligent" systems, hedge bets and so on, really, the worse ones odds. One is better off in craps to keeping it as simple as possible because that's where ones best odds are. But "smart" people do insist on making craps complicated. That more about them than the game. They feel the need to "do something" to beat the game.
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Even though the minimum investment required for a Platinum VIP account is high, the trading features can more than justify the initial investment barrier. The only concern is that traders may not feel comfortable depositing large amounts of money at FiNMAX without any proper regulatory protection. Regardless, the company has managed to steer clear of any large controversies, which does make it a bit more dependable than brokers that are located in tax havens.
FiNMAX Demo Trading Account.
FiNMAX offers a limited period demo that is valid only for a week, which is not a whole lot of time to learn the concept in detail. Although FiNMAX has limited its demo account to users, it is far better than avoiding a demo offering altogether. Seasoned traders can use the demo trading account to gauge the efficiency of the platform, while amateur traders can also use the demo period to familiarise themselves with the binary options market and put on a few trades to gain market exposure. Nevertheless, we would have appreciated if the company had provided a bit more time with its free demo account option.
FiNMAX clients can make use of the vast resources for trading, which includes advanced trading charts, personal account manager, and market analytics. Larger account holders have the convenience of trading with signals or use social trading platforms to copy trades from successful traders. The broker also provides market analysis, trading news, webinars, strategy, and VIP trader education. FiNMAX has one of the best trader-oriented resources, which can provide a highly beneficial platform for binary options traders.
There is a drastic amount of confusion surrounding regulatory status. Reduced number of binary options assets.
Yes, traders can download dedicated FiNMAX apps for iOS and Android devices.
FiNMAX offers support through live chat, phone numbers, emails, and Skype address. The customer service channel is only available for 14 hours a day and 5 days a week.