How to Learn Forex Trading Like A Pro [Top educational Services]

Looking for an effective Forex trading course? Top sources on how to learn Forex trading easily

When it comes to providing quality Forex information and news, these are the leading currency trading portals.

  1. Through these sites the readers will receive lots of information on many different areas related to currency trading such as real-time exchange rates, technical analysis/studies, market analysis/forecasts, and currency charts.
  2. They also provide trading newsletters and live webinars of famous currency market experts, creating professional growth for its collaborators such as the banks, brokers, analysts and educators as well as to its audience in all levels.
  3. Through the sites’ latest market updates and broker reviews, Forex traders will definitely learn more to improve their trading skills.

We held an interview among these educational sites and here are the questions we used in this survey.

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?

Some other important things:

  1. Please give a link for the #1 free article or pdf on your site
  2. What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go)

You can see the answers received below.

Trading Setups Review

tradingsetupsreview.com

Trading Setups Review offers quality education for active technical traders. Our flagship course, Day Trading With Price Action, contains a complete price action trading framework in a concise and practical package. It shows you how to make the most out of simple trading tools like swing pivot and trend line analysis using detailed chart examples.

Online Solutions

dollerexchange.com

Our main course is "Forex Advanced Winning Strategies".

This course is to learn Advanced knowledge of Fundamental Analyses from all aspects, Sentiment and Technical Analysis. I am student of Mr. Jarrat Davis and mainly coach his trading style.

Timon

forexreviews.info

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  2. What I teach is technical price action based, to break it down, how to trade certain types of structure areas looking at candlestick patterns forming in these areas and risk to reward filtering.

  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. Pure Price Action based methodologies while managing positions around major events that may effect that position.

  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  6. I use a combination of structure areas in the market, in particular high time frame structure areas, technical tools such as trend lines, candlestick formations, structure retest patterns and fibonacci retracement confluences.

  7. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  8. Yes, I back test alot, one of the programs I use when backtesting is Forex Tester as well as manual backtesting. I do extensive testing of a method to make sure it can handle multiple market conditions over ten years of history or more on multiple markets.

  9. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  10. Manual trading is how I trade price action and what I teach at the website as well.

  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  12. I let price action and structure areas determine length of trade and management processes of that trade. Meaning every trade is different.

    I trade multiple time frames ranging from daily, 8 hour, 4 hour, 1 hour or even 15 minute.

    I trade multiple markets, I currently keep an eye on over 30 markets and then focus on 2 to 3 markets at a time that are testing what I refer to as a important trading area. This is a filtered form of structure in the market and an aspect I teach in the training at the website as well.

Some other important things:

Homepage - forexreviews.info

Weekly Forex Outlook and Reviews - forexreviews.info/category/trade-setups/

The second link is a link to the category page showing the latest Weekly Forex Outlook and Reviews. This is a regular video topic that is released at the website ( and the Youtube channel ) covering multiple markets and areas on those markets where I am interested in looking for potential opportunities that week.

I suggest to new traders trying to learn trading as a career to focus on learning two important aspects: how to evaluate and identify structure areas in the market, in particular important structure ( higher time frame structure ) areas in the market and then learn how to filter risk to reward and price action patterns when price tests these areas to ensure that all valid trades considered in these trading areas offer much more reward than the risk.

Forex Trading Big

forextradingbig.com

Free website that offers insightful articles and strategies on how traders can reap big returns from their currency trading efforts. The site is equipped with well-researched and accurate posts that aim to assist traders make sound and profitable trading decisions.

If you want to improve your technical and fundamental analysis skills, Forex Trading Big is the site to go for, and your trading will never be the same again. Currently, most traders fail because of lack of sufficient trading skills. At Forex Trading Big, you will learn how to analyze the market, enter trades, and make profitable exits.  For example, this article is a comprehensive guide on how to carry out technical analysis profitably in the forex market.

Theo

electrofx.com

  1. Flexible yet defined rules for opening/closing trades depending on the market circumstances.
  2. Price action system using wave structures (double taps, Head and Shoulders, Trend Continuations etc etc) and defined entry triggers to trade them (also some H/L and Range breakout techniques for additional trades).
  3. Technical analysis of price action and support resistance with awareness of any major news.
  4. Both, backtesting is a great tool I advise people to use to learn how to use the software I provide and also gain trading practice at the same time. I also use 99% accurate tick data backtesting for tuning my fully automated EA.
  5. Manual Trading using my included software to semi-automate, leaving the important decisions to you and then set and forget the rest, Fully Automated trading using my other included software is also available to my VIP members (New for 2018) (very basic software is included with free membership and all of my advanced software is included with VIP membership, listed here - Upgrade Your Membership )
  6. Personally I like short term swing trading that some may even call scalping and I use price based charts which have no actual timeframe, but my methods are scalable to work at any 'speed' short term, medium term, or long term, and also work on candlestick charts.

My free basic lessons which do not require even free membership are quite popular looking at my analytics, Basically they start here - Forex Trading Basics

Then at the bottom of each page there is an arrow to go to the next lesson and also a menu down the left side to navigate.

Once the visitor reaches the last lesson of that section the arrow will them take them here - Forex Trading Strategies

The last lesson of that section then takes the visitor to the join page for free membership.

The top 3 of those basic lessons according to google are:

  1. The Three Not So Common Charts
  2. Applying Risk Reward
  3. Forex Trading Basics

The 3 main insights I give any new and interested trader is:

  1. Stick with pure price action and stay away from indicators, oscillator style indicators in particular. The only indicators I provide and use are to do with support/resistance, supply/demand, and price action itself.
  2. Risk: reward can make or break you so you better understand it fully.
  3. Make sure your trading plan has defined rules for all possible outcomes, when you are trading live you should just be able to react and not sit there thinking about what to do.

I do also run a live room for my VIP members with daily market outlooks and weekend webinars, My favorite pair to trade is EURUSD and my 2nd is GBPUSD, it is those 2 I give my daily outlooks on.

John

forex-central.net

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  • I believe flexible rules are best. For example, sometimes it's a good idea to adapt to major news announcements, such as the NFP report. Major news announcements can make or break a trade, and I will sometimes close a winning trade right before it reaches a Take Profit level as the high volatility that characterises such news publications can also ruin an otherwise profitable trade.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • I prefer to rely on price action. Indicators are often lagging. In terms of price action, I'm a big fan of pin bars. Pin bars help identify - within the timeframe you're observing - cases where price is highly likely to reverse in direction.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • I tend to rely more on technical analysis, but fundamental news can also guide my decisions. I'm especially keen on following the London open on the EUR/USD pair ; I'll usually let the first hour slide by to get a feel for where the pair might be going and then keep in mind any news events that might influence the rest of the trading day.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • Only time I ever backtested was when I worked for Rothschild in Paris. I'm more of a spontaneous trader, even though I follow a sort of routine, and use some rules (ex: I don't trade on Fridays as they're often slow, I avoid trading on major US/UK holidays, etc.)
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Manual trading. Admitedly, I haven't experimented much with EAs. Even though rules are often useful, human discretion can sometimes save you from entering into bad trades.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • I used to scalp, but have moved on to short and medium-term strategies (a few hours is ideal for me, some positions will even span a few days). Scalping is subject to many elements we can't control (the big banks seem to pull strings that I can't see as a home-based trader and trying to pull a profit in a few short minutes isn't easy, at least for me it isn't).

Some other important things:

Please give a link for the #1 free article or pdf on your site
The "Sure-Fire" Forex Hedging Strategy

What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go):

  1. Always look at the bigger timeframes H4/D1, to indentify the overall trend, before timing an entry using the shorter timeframes M30/M5.
  2. Always keep in mind the big news releases. Their impact can make or break a trade.
  3. Never force yourself to trade; if you don't find a setup or opportunity that you feel strongly about, don't force yourself to enter a trade for the sake of being in the market. Sometimes the best trade is to NOT trade!

Johan

forexmasters.co.za

When deciding to go to a certain company for training in Financial Markets, it is important to look at the background of the trainers (are they really as professional as they claim to be) and what is the duration of their involvement in forex trading and training. The longer the period, the more experienced and skilled they may be.

I have been involved in full time professional financial services as a career since 1991. I worked as a broker / financial consultant for First National Bank (one of the largest banks in South Africa) 1993 – 2002. In 2002 I moved over to full time forex trading and traded forex managed accounts for a couple of years. I qualified for the FSP 2.12 license in 2008 which is the most professional level you can reach in South Africa. According to this you are recognised as a fully qualified professional fund manager by the South African Financial Services Board. Due to people asking for help in learning how to trade I became involved in the training of people.

Training is done either one to one or in small groups (no more than 10 people per session) for quality control.

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • I invested thousands of hours of research into trading concepts over the years and developed a trading system / concept with which we can interpret market conditions and market movements fairly accurately. We can even make highly accurate predictions about future moves.
  • There are precise rules
    • for when to trade
    • for where and when to enter the market
    • for how long to stay in a trade
    • for where to exit a trade.
    • for how to protect yourself while in a trade - There are rules for using stops and trailing stops
  • The graph below shows the results of one of my clients who completed 1,220 trades over a period of 18 months with a 89,92% accuracy on his trades. He made over 1,000% profit on his account in this period of time.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • We are using a combination of indicators and price action.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • We use mainly technical analysis in the trading, but take fundamentals into consideration as well.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • I do not believe in backtesting. I have been developing automated trading systems for many years, and sometimes you will find fabulous results with a certain concept when backtesting, and then it will fail miserably when trading the live markets. We will test concepts on a demo account in real time, and if it works successfully, then we know we can apply the same concepts successfully on a live account. Naturally this process of testing is much more time consuming, but the end result is worth it.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Trading is done manually for best results.
  • We are working on an EA which will use my trading concepts for automated trading, but it is still in development and not yet ready for use. It is very likely that it will be finished in 2018.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • The trading concepts can be applied to any timeframe. It can be used for scalping on tick graphs, M1and M5 graphs. Short term trades M5, M15 and H1 graphs. Medium to long term trades are done on H1, H4, D and W graphs.
  • The concepts has been tested with success on Forex, CFD’s, futures, commodities, shares, Gold, Silver, Oil and even Crypto Currencies.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • You will find useful info under the heading “Trading Facts” on the website.
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go)
  • Not all people have the ability to perform well in the Olympic games and qualify for a gold medal at the end of the day.

The same is true for trading. Not all people will develop into successful traders.

It takes hard work, as well as lots of dedication and time to develop into a good trader.

There unfortunately is no quick fix for learning to trade.

In order to develop into a successful trader, a person must:

  • be dedicated
  • be willing to put in time and effort
  • be disciplined
  • be able to cope with stress and fear
  • not be greedy
  • must have good methods

There is no need to reinvent the wheel.

Use the knowledge and skill of professional people to your advantage!

Roy Cuzin

thechartwizard.com

  • The C-Matrix model is based on a pre-defined conditions both for trades entries and exits. On entries however, pre-defined rules are more flexable, while on exits they are strict.
  • The C-Matrix system is completely based on Price Action patterns. In-fact, these specific patterns have been recently discovered, and are the core structure for the C-Matrix methodology.
  • The C-Matrix system is a pure technical system that is based on price action patterns. The system is supported with Fibonacci retracement tool as well as additional 200 (daily) moving average indicator. In other word, the price action patterns are been identified and analyzed by standard Fibonacci retracement drewing tool that has been set by a unique set of parameters. These set of parameters are the core element of the C-Matrix methodology.
  • The C-Matrix is desined to idenify and track consolidation phases (i.e sideways movements or trading ranges), break them down to their internal moves (individual legs) and assist to cpitalize on the predictive elements that clearly derive from its application.
  • The C-Marix model is manually applied. However, money management EA'S can be added, as I happen to use one.
  • The C-Matrix can be applied on any time frame, both for day traders or swing traders. Nevertheless it is far more successfull on the longer term time scales. Personally, I use it only on the Daily and Weekly time frames with significant importance attributed to the Daily and Weekly bar close.

Here is a link to a Free article on the website - Beware of the cryptic Marketers

Here is a link to a Free E-book on the website - The Fibonacci Magic

Here is a link to my YouTube Forex trading channel - The Forex Wizard

The 3 insights/actions that made the transition from a novice trader to a successful one were:

  • It took me a few good years (and a technical analysis master credentials by the International Federation of Technical Analysis) to realize that all of the traditional and popular technical analysis methods, tools and techniques were competely useless (not to mention misleading and damaging) and it takes a different approach, an original approach that is not part of the technical analysis general body of knowledge.
  • Focusing on the longer term time frames such as the Daily and Weekly, while staying away from the shorter time frams have done huge improvment in all aspects of my trading.
  • Building and excecuting a systematic decision making process with a sound risk and money managment tactics in place.

The C-Matrix education program (C-Matrix Academy course) is part of The Chart Wizard membership plan.

Michael Nauss

youtube channel: Bonpara

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • I bilieve that all algos should be based on things observed in the market and then backtested. Focusing too much on then numbers can remove you from how market moves.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • I personally dont believe in indicators to tell a trader what to do but help in what to avoid. Trade-ideas uses event based backtester so you can setup any event and run simulations on that.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • I personally believe that technical analysis is fair superior then fundamental depending on time frame. I am a swing trader so for me I want to follow the price.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • 100% of my trades are backtested and automated. It has been over 6 months since I started a trade myself.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Fully autoamted and agian this is differnt from forex automation becuase I deal with 100% stocks. I dont beleive in selling automated algo. No algo works forever and its important that the trader knows how it works so they can change for changing market conditions.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • Personally I am a swing trader and since I trade only stocks this means having to deal with overnight holds.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site:
     The Future of Trading - The marriage of man and machine
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
  • All of the old sayings really apply here. All you need is a 50% win rate and to make more when your right then lose when your wrong and its really just that simple.

PFOREX

pforex.com

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  2. Flexible rules based on market conditions.
  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. Both of them, Most powerful and common indicators and patterns. Inside Settings section of PFOREX Assist APP, you can find all strategies.
  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  6. We provide the Technical Analysis and Trading Signals, but Fundamental analysis are provided by news everyday.
  7. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  8. We have tested all strategies and check the performance of them in 15 years.
  9. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  10. Manual Trading
  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  12. All of them, and you can find it on Settings, Filter Notification section. Our App, PFOREX Assist is available on App Store and Play Store.
  13. Please give a link for the #1 free article or pdf on your site.
  14. PFOREX Assist Membership Plans
  15. What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
  16. Continuous Education and study, News overview and using PFOREX Assist signals and analysis.

Robert Taylor

tradeforexmakemoney.co.uk

Hows this?

When it comes to Forex training courses there is no one better qualified than Rob Taylor. Rob is a professional trader and money manager that has been trading the Forex market for 15 years. Rob provides an unrivalled insight into the way the Forex market really works, and teaches traders how to position themselves on the correct side of the market. Rob is a day trader, his strategies are his own tried and tested methods for maximum profit on any currency pair in any market. Rob has developed his own custom indicators and EAs that help his students see the best opportunities in the market. His training course is not cheap, but if you want to learn how the real professionals trade the markets then this is the Forex training course you need to take.

Forex Training Course

Tom Franklin

springboardyourtrading.com

With regards to the Forex markets, there are two schools of thought in terms of how to trade them. On one side you have technical analysis - using technical chart 'clues' to identify the possible direction of a currency pair. Then on the other side of the coin there is fundamental analysis which is using economic events to determine the likely directional outcome. Both approaches have their merits and their con's but for forex trading specialist Springboardyourtrading.com it is fundamental analysis which is what they strongly believe to be far superior and, given their live trade history, it would be hard to deny this claim.

Each and every single month they jump into the large movements in the FX markets created as a direct result of economic news announcements. It is these fundamental events that the large scale institutional traders utilize to make predictable and consistent returns each year and Springboardyourtrading.com believes that, as a individual private trader, you can do exactly the same with a little time and practice. Quite a bold statement but one which is backed up by many positive reviews from their students. So getting even just a basic knowledge of how to trade the news/fundamentals, it will definitely help to improve your overall understanding of how the currency markets move and why. This can only help improve your overall trading.

From our extensive research we believe Springboardyourtrading.com to be one of the leading currency trading portals for educating traders on how to profit from the worlds major economic events. However don't just take our word for it, instead go and take their FREE TASTER COURSE by clicking on the link below. Here you will be able to register for over 85 minutes of powerful trading education sent directly to your inbox over the course of 7 days and start to get a grasp of this challenging but highly powerful approach.

Trader Transformation Service

Rayner Teo

tradingwithrayner.com

  • To empower traders in the skill of Price action trading and Trend Following.
  • I look at trends and find a spot to enter the market that allows me to have a predefined risk while having an unlimited upside potential.
  • The Moving Average Trading Strategy Guide
  • First, you need a strategy that complements your lifestyle. If you have a full-time job, stick to the higher timeframes like 4-hour or daily. Second, be consistent in your actions and journal your trades. It could lead to consistently profitable trading or consistently lose. But at least you have data to work with and know how you can improve on your trading. Finally, risk a fraction of your trading account. Even the best trading strategies will have periods of drawdown and the only way to survive is proper risk management.

Urban Forex

urbanforex.com

  1. We don't use algorithms or any other form of automated trading. We use price action and our understanding of the market to anticipate it's moves. We've translated price action into a story analogy to make the different market circumstances and behaviours understandable for everyone.
  2. We don't use indicators, because they always lag and in the end just distract us from the true price action. Neither do we use patterns trading. As mentioned in 1, we solely trade based on our understanding of the price action and not based on a pre-determined pattern or strategy.
  3. The only way we pay attention to news is by looking at the calendar and determining if the time of the news release coincides with our trade. We don't try to understand the news and we don't try to predict it. We use 100% price action. Our technical analysis tools are the aforementioned story analogy that makes it easy to understand and anticipate what's happening.
  4. I believe the term back-testing is more applicable to strategies. We don't incorporate new strategies. We are however, firm believers of practicing the read (understanding of the story) on trade simulators (like Forex Tester) or demo accounts. Keeping a journal of both practice and live trading is strongly advised as well.
  5. Manual. As mentioned we don't use any form of automated trading.
  6. We generally don't scalp. However, apart form that our market understanding is applicable to any time frame, any currency pair and even any kind of market.

Link to article: Price Action Trading: How to Create a Solid Trading Plan

Insights:

  1. Accept that the market does not follow a set of rules. So the market can not break the rules and it is useless to feel mad at the market. The market doesn't owe anyone anything. From this acceptance you can open your mind to learn and understand the market's behaviour. Go with the current instead of trying to fighting it.
  2. The learning trajectory is not a linear one. It will be like a trend and there will be ups and downs. It will take time and experience, but everyone can do it and you don't need the brain of a rocket scientist to be a good trader. You just need to be persistent and passionate about being better every day. My personal trading fire really lit up when I realized it's all just a big puzzle and I love to solve puzzles. Everyone needs to find their own fire like that.
  3. Practice a lot and keep a journal of everything you do and most importantly WHY. Write down WHY you like a trade, WHY you enter, Why you exit, etc. This always has to be a technical reason and can't be an emotional one. This will make you accountable to yourself and your learning curve will shoot up.
  4. I see many people approach us with the worst stories about blown up accounts and huge financial losses. To prevent this, from the start, use this mantra: I always need to protect my account. Practice before you go live. When you go live you trade small, risk amounts of money that mean nothing to you (even this will affect your emotion) and slowly build the amounts at every stage when you are doing well (and only when you are ding well). An open door, but I still see many people ignoring it: Use stop loss.

Sebastian Kuhnert

tradimo.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Algorithms or Flexible rules for opening/closing trades depending on the market circumstances: Tradimo.com offers forex trading courses (and courses for other asset classes such as stocks, commodities, cryptocurrencies, futures and options) including many strategies that describe a basic ruleset that can be discretionally applied according to market circumstances. At the same time, we feature some of the world's leading courses on building automated systems for those that prefer algorithmic systems.
  • Indicators or Price action system. Tradimo's courses focus both on price action and indicators. At the same time, Tradimo's team provides trading signals as part of the premium subscription that are based on price action, especially breakouts, trend continuity and reversals after selloffs. The signals are based on 15 strategies and involve both options, spot and futures trading.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most? We have strategies, courses, experts and signals for both technical and fundamental analysis. The majority of our trades and systems are based on technical analysis but our entry points are often fundamental. Trade management is then done technically.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this? We backtest and publish the results for our mechanical strategies such as our Forex Beginner Strategy. We have a complete guide to backtesting your strategy. Forex Tester is a great tool for backtesting.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them. We focus more on manual trading than automated trading, but we do have a full section featuring the best courses for automated trading, among them a course on building MetaTrader EAs including several finished EAs and two courses on algorithmic trading: trading investing with no experience and introduction to algorithmic trading.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading? In our own trading and signals, we focus on medium-term trading. We teach strategies and approaches for all time horizons, however. Everything from a free course on How to invest with ETFs for your own retirement fund to a specialised forex scalping course for all currency pairs.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site: Our most popular free course is our Free Technical Analysis Course: learn.tradimo.com/technical-analysis
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go): First, you have to have a learners mindset, i.e. don't think that you have all the answers and know better than other market participants - speak to others, join communities, invest in your education; second, you need to really understand the market or asset class you are trading in, i.e. if you are trading EUR/USD, then you need to know all relevant news for the Euro, the American economy, etc.; third, you need to have some ground rules for yourself such as how much do you risk per trade.
  • Tradimo has won the Finance Magnates Award for the most innovative product.
  • Tradimo has an open learning platform where experts can also sign up to sell their own courses. Registration is free at learn.tradimo.com/register/instructor
  • Tradimo's Premium Service is available for free for up to 1 year when someone opens an account with sponsoring participating partner companies.
  • Tradimo offers complete Nanodiplomas to become a certified Forex Trader, Investor, Cryptocurrency Trader, Day Trader and many more which combine the best courses for any specific learning goal in the idea order and include also practical projects guided by a professional mentor that provides personal feedback to the student.

James Lawrence

ktafx.com

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  2. We do not trade with any algorithm.  We have set rules as to when we open and close trades.   When we (manually) enter a trade we wait for a certain amount of % move above or below the technical tool that is in play regarding the currency pair.  We then enter a trade and aim to ride 30-50% of the pending move that we foresee playing out.  The best course of action is to EXIT the trade before 80-85% of the move has concluded.

  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. The tools we use for trading are: Averages, MACD/RSI, FIB & Pivots lines/zones and lastly basic trend lines that compliment the Fib and Pivot tools.

  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  6. Aside from the aforementioned, we also use two other Moving Averages that we look to cross in order to confirm a strong move of momentum, either to upside or downside.  These are computed on the 30 min and 4hr chart.

  7. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  8. We do backtest for up to 18 months for every currency pair we trade.  The testing involves:

    1. Assessing force of moves up and below pivots/Fibonacci lines and momentum of breaks (for all timeframes) above and below are selected Moving Averages.
    2. We also compare the force of moves through specific, notable fundamental trading periods.  For E.G. BOE meeting/rate decision. We will assess the GBP/JPY, GBP/USD and GBP/GBP/AUD etc to see the stretch of move beyond set technical levels, then create an average (size) of what we expect certain breakouts to move beyond these verified parameters.  E.G. This can be segmented for: Results on par, missing forecast and beating forecast.  Then everything else in-between to missing forecast but markets taking other parts of datas into account and of course beating forecast but certain data shaking market and potentially being detrimental to the main headline figure/number.
  9. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  10. Always trade Manual. A lot of the work is done for us by the technical indicators and moves beyond these set parameters and of course, we only enter given the right fundamental circumstances or at least nothing potentially contradictory has not been recently seen in the market.

  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
    • We trade short/medium term.   We scalp some days as and when volume is at a high point and activity is increasing from Asia rollover into London time.  If we see short term (daily scalp) opportunities, we only look to make 6-10 pips per trade, 2-3 times per day. Some sessions, there may only be one strong opportunity. If we look to trade for several weeks and possibly holding the position for 1month+, then we have to assess as much of the fundamental picture as we can.  For instance now, we are long Gbp/Jpy.
    • Purely because the Gpb is in a strong confluent uptrend and has a lot of gaps to fill (post-brexit) going by pre-brexit prices.  Also at the same time the BOJ has made it apparent that they are happy to keep rates low (currently 0.1% below zero) and that they are still some way off their inflation target of 2%.
    • The only dissenting voice in their recent BOJ meeting before Xmas, stated that the likelihood of inflation reaching it's target of 2% is LOW and the central bank should commit to additional easing if it's to achieve the target.

Other important points

What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).

Three main points I have had to adhere since EVOLVING into a professional trader are as follows:

  1. Having a clear regime/schedule and being as methodical as humanly possible. Not just with trading but in every day life, with regard to social life, family and hobbies.
  2. Learn the markets and by that I mean, befriend the industry, become familiar with it and love it. Watch Bloomberg CNBC at home and even at dinner.  Engross yourself into the world, immerse the lingo and the terminology and read/learn as much as you can regarding Technical Analysis and the top 10/20 technical analysis indicators.  But there is no substitute from simply ploughing through charts and putting the man hours in familiarising yourself with say 10 currencies (of your choice) and their price charts over the past 2-3 years. You will subconsciously learn so much. A lot of the big breakouts and consolidating patterns will be subliminally embedded into your brain and this will help you in some deep (albeit very slight) way when it comes to trading that pair.
  3. Learn FUNDAMENTAL ANALYSIS; ALL professional traders need to be aware of what is going on in the public arena and ALL news out there that could affect the currency of a specific nation/currency.

As a novice I was way too focused on tech analysis but since merging both Fund Analysis and TA it's extremely powerful and there is no way on this earth, I could trade with evaluating ALL economic calendar news that is due out (I do this on a Sunday evening for the week ahead) and of course be aware and stay on top of news throughout the day (maybe have the squawk running in the background at your desk or smartphone) just so you are a step ahead if anything was to crop up out of the blue during the day and if it does, you can act accordingly.

However you NEED to know as a professional trader (at all times) when specific data is due out, what are the forecasts and whatever the result what are the potential implications for moves and the extent of the moves and what that could mean regarding your technical picture?  Does it compliment the current trend? Or does it indeed mean a big turnaround of momentum and direction of a new trend?

Lex van Dam

lexvandam.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?

The Lex van Dam Trading Academy aims to teach people professional methods of trading and investing. As a member of the Academy you will have access to high quality video courses accompanied by workbooks, spreadsheets, online tests and the Trading Club with weekly trade idea analysis teaching our Checklist Trading process in real time accompanied by weekly and monthly market reports - all available on the website's top-notch e-learning platform. A friendly customer support team will ensure you make the best out of your time with the Academy!

Lex van Dam's flagship Million Dollar Traders course teaches everything you need to know about analysing and investing in stocks, currencies and commodities using Lex’s proven 5-Step-Trading® method as seen on BBC's Million Dollar Traders.

Whether you are an aspiring day trader or longer-term investor, the Million Dollar Traders course applies Lex's proven method to the world's most important markets and will help you to develop your own process so that you aren’t reliant on any one strategy. By the end of the course you will feel fully prepared to invest on a personal basis.

Claim your 7-day free Trading Club access and have hedge fund manager Lex van Dam as your trading coach!

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • Try our Trading Club service for 7 days for free here
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
  • As an experienced hedge fund manager, Lex believes that you must be prepared to adapt to any market environment in order to make money consistently. For this reason, Lex’s process combines shorter-term trading strategies with a portfolio-based approach to best ensure your success over the long run.

Scott Barkley

proacttraders.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  2. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  3. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?

We are Technical analysis traders who have studied how Market Movements are done by the Big Boys ( Bankers). 78% of all candles movements are created by the top 15 FX banks and so we look for the overall structure of the market and then the statistical probability of the next move . We are not so interested in the trade finishing in this session but where are the targets and what tools will the big Boys use to accomplish that move within a reasonable time frame. We are looking for targets 55 pips or more and we press our winners without exception.

  1. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  2. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  3. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?

Some other important things:

  • Please give a link for the #1 free article or pdf on your site: proacttraders.com/ebook
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).

Traders need to first be aware that scalping for small pips has a statistical high failure rate. They also misjudge the amount of time it will take to master the skills of the FX trader. However, there is no rocket science in the Forex so each skill can be mastered by the trader if they will educate themselves and then persevere through the experience phase. Big boys ONLY trade is the areas we call Wide Open Spaces. Due to their margin management rules they can only trade where a reward for risk ratio is 55 pips or more. They key is to identify those areas, only trade in those areas and ALWAYS press your winners without exception.

Ben Nathan

fundamentalforex.org

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • We offer several methodologies to advance ones trading experience and drive results . These methods vary to suit individual allowances and requirements.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Fundamental analysis is essential when it comes to choosing the right pairs and direction and technicals are useful for maintaining consistent trade execution . We teach people to make solid decisions based on this approach.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • We do not back test we only forward test , though we have used forex tester in the passed with useful results.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • All of our methods are based on manual trading though the process can be automated with included EAs.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • Intraday M15 mostly with some longer term trades being executed from the D1.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site.
  • On the newsletter sign up at fundamentalforex.org the user gets a 3 part video to help fix their worse mistakes - these mistakes are unique when it comes to a free course but also so common that nearly every trader makes them.
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
  • Never choose a pair based on a chart. Buy into good economy. Sell into bad. This is what separates professional traders from the majority.

Kiana Danial

investdiva.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • IDDA: Using the IDDA technique to develop forex trading strategies

  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Both + more (IDDA). For technicals mainly use the Ichimoku + Fibonacci technique.

  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this? No
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them. Manual
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading? Medium to long term

Some other important things:

Kar Yong

alphaplay.com.sg

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  • In terms of opening trades, we have a pre-defined rules based on certain set of algorithm and rules. However, depending on the market conditions and how price develops after the entry, we have adopt a discretionary method in managing and exiting our trades.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • Price action system. Our analysis and trading is based on the concept of Elliott Wave Principles. The few main price action patterns that we trade include the ZigZag pattern and the diagonal patterns.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Our analysis and entry is based on 80% technical, 20% fundamental. Technical indicators that we use are fibonacci ratios and RSI. We use the fundamental news such as the various economic data as a potential catalyst to support our technical direction established. We also look into the macro environment as part of our fundamental analysis.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • I haven’t done any extensive backtesting, but focuses a lot on forward testing with smaller live accounts. For the backtesting process that I’ve done, mainly looking back at historical data by scrolling back on the chart. Would love to have a programme like forex tester, which I strongly believe can benefit our community of traders too.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Manual trading.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • I trade both long-term and short-term, which means I do have two different strategies for this. For short term, it’s mainly 30mins timeframe, and long term is on 4hour timeframe. For the short term scalping strategy, I focus only on EURUSD, AUDUSD, NZDUSD, USDJPY, USDCHF and USDCAD. For the long term strategy, I look at all currency pairs that include the 8 major currencies.
  • Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • http://alphaplay.com.sg/2018marketoutlook
  • This is a detail report on our analysis and outlook for 2018.
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
    1. Risk management is definitely the number one. Couldn’t emphasise on the importance of this more.
    2. Commitment and dedication in learning about the market. Many traders entered the market thinking it’s an overnight success, or they can see the fruits of trading just by attending a 2 days workshop. It doesn’t happen. It’s a continuous process of learning and understanding the market.
    3. Self awareness and consciousness. Trading is not just about the market, but also the understanding of oneself. This includes the psychology and personality of ourselves. Only by understanding ourselves, we can be aware of our psychology and emotions towards trading. And from there, we start to develop ourselves to a better trader.

Sinder Trading Academy

sinderacademy.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  2. Answer: Pre-defined trading algorithm. An additional stop loss should be used in case of a random event.

    Comments: flexible rules for opening/closing trades depending on the market circumstances are better suited to stocks/shares/Indices in our view.

  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. Answer: Indicators based trading system.

    Comments: Its is important to keep an eye on price movement regardless because if (for example), a price goes parabolic, then that becomes bubble territory and other different strategies apply.

  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  6. Answer: Both we tend to use mostly Technical analysis as majority of our trades last around 2-5 days.

    Comments: For a market to be considered a long term trade, fundamental analysis is required. For short term trades fundamentals are less important.

  7. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  8. Answer: Both

    Comments: We never use back testing software as they do not always fully work. We do our back testing from charts and with pen and paper. This way, future trades placed will also become clearer.

  9. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  10. Answer: Mostly auto trading though on the odd occasion, a manual trade is placed.

    Comments: We do have our own EA’s and Indicators but we are not currently selling them....we should! Our indicators are called, Sinder A1, Sinder M1 and Super Sonic Sinder Smoothed. Our EA is called Super Sonic Sinder. We have a new automatic system in the piplelines which shall be called Super Sonic Sinder ULTRA.

  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  12. Answer: We prefer multiples of short term trades based on the nature of the each individual market. Our trades last between 2-5 days per trade. We prefer trading XAUUSD, XAGUSD, BTCUSD, BTCGBP though our main strategy is able to trade pretty much anything.

    Comments: Day trading solely doesn't work unless you use options.

Some other important things:

  • Stick to your strategy no matter what; Either make money from your strategy or find out the strategy is not fully reliable...only one can happen. But never trade with emotions.
  • No one indicator is perfect. a second or third indicator should always be used to confirm the other.
  • Never trade against government policies or decisions. They own the markets.

Vladimir Ribakov

tradersacademyclub.com

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances? - Pre-defined
  2. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at? - Both
  3. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most? - Technical analysis but fundamentals are also taken into consideration. Interest rates, Employment changes.
  4. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this? - Idea -> Backtest -> Forward Test -> Live Trading. It is all about the statistics. Trading spontaneous = gambling.
  5. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them. - Manual trading. I use EAs to help me in my trading but never rely of a software 100%. All my strategies include an EA.
  6. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading? - Both. Majors + Minors and some exotics for the long term trading + Commodities + Stocks.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • You can find plenty of free articles and ebooks here:
    • Educational articles: link
    • educational-articles / Free downloads: link
    • Forex for beginners guide: link
    • Forex for experienced traders: link
  • What are the three incredibly valuable insights/actions that made.
  • The transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).
  • Understand this is a journey. Success won't be reached right away. There will be ups, there will be downs. Always remember your final destination and targets and keep going till you reach them 2- never stop learning. Markets change, conditions change, new opportunities arrive, and we always have to learn and learn harder to stay in the pace of the changes 3- dream big, aim bigger – just remember to wake up and pull the trigger. Saying that – means that you have to set big goals but remember that final goal has to be reached only after you reached all the small goals on the way. and remember that goals aren't reached only by having them. they are reached only by working hard.

Andrew Mitchem

theforextradingcoach.com

Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?

Price action based, looking at candles and where they show on the charts, looking at support and resistance levels, pivot points, round numbers, trend line breaks, strength and weakness and divergence.

https://theforextradingcoach.com/engulfing-candle-strategy

Understanding risk management is key. Keeping risk per trade low and making a percentage gain not pips. A high reward:risk ratio on your trades is also important. I only look for a new trade upon the completion of a candle and this keeps me away from the charts. Looking at the charts at the right time and less often makes trading enjoyable and practical.

Rafal Zuchowicz

fx.rafalzuchowicz.com

Which option characterises your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances.
  2. It’s mechanical trading that I use, no EA involved, but there are strict rules for entry. Sometimes I might use my experience and feel of the market to execute trade but rather trying to stick to the rules of opening and closing each trade.

  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. I use set of moving averages that determine the direction of market and my potential entry. I keep close eye on price action but moving averages are the priority.

  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  6. Technical analyses. Keeping eye on News that can trigger dynamic movement. News are very ofter an excuse to fulfil harmonic patterns on charts, etc. Would suggest to avoid them (NFP especially) if you don’t know what you’re doing.

  7. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  8. Backtesting my observations and taking advantage of markets repetitive behaviour. Using history on MT4 and manually checking if my observation is a one time thing or repeats over the time.

  9. Manual trading or automated trading. If you have EAs (free or for sale) – it is a good place to mention them.
  10. Manual trading, EA only to alert me of potential entry point. Don’t have any particular product to recommend except Renko bar candles EA that I’m using in one of my strategies. Soon will make a video on my YouTube channel with this easy and very profitable strategy, so stay tuned.

  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  12. I’m a day trader not holding positions over night in most cases. Trading mostly based on 5min candles with broader view using 1h/1d.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • I don’t have any articles at the moment, mostly posting videos on YouTube so here is my video where I explain the power of 1% a day which using compound interest can take you really far.

  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go).

Trade SMALL! Don’t risk more then 1-2% per trade to protect your capital.

Always have SL in place - you HAVE To know where is your exit point in case market won’t share your opinion on the direction it will go.

Follow strength of the market, don’t try to catch few pips going against the market thinking that it is in a perfect place for a small correction. Why catching small corrections if you can catch long trends.

Specialise in one to two markets max and know about them everything. Become a MASTER OF ONE MARKET. It can be one currency pair, one index, gold etc. You will start seeing thinks that you will never be able to notice if you jump from one pair to another.

Traders4Traders

traders4traders.com

  1. We have a discretionary trading system based on a combination of Technical & Fundamental analysis. It is flexible but we do have a “trade checklist” that we refer to as probability enhancers to quantify the trading opportunity. If everything lines up then you will have a low risk/high probability trade in front of you and you should trade.
  2. I would say our methodology is more price action. We get our entry levels from the technicals and the fundamentals give us currency direction. Our entry levels are in a precise position to avoid the discombobulated price action you get close to trendlines. Basically we know where “confusing” price action is, we avoid it and then trade in a zone when the currencies are once again moving in one direction.
  3. Both technical and fundamental analysis are important.
  4. As far as technical analysis goes the most important thing to track is the trendlines. We don’t use any indicators besides stochastics which we only use to manage positions. We use Reuters Xenith for all technical and fundamental analysis. It’s what the bankers use so it’s important you’re looking at the same things.

    Fundamental news - most important is the 4-5 Tier 1 releases (employment, CPI, GDP, retail sales, Manufacturing etc) for each major currency. These top tier releases provide immediate direction for the currencies. Trading them can sometimes be good and other times terrible, so you have to now what you’re doing.

    The most important news to follow though is anything to do with the Central Banks. They determine the overall trends so it’s imperative you know what they are doing and track all of their releases, announcements and speeches.

  5. I’ve been trading for 28 years. That’s enough back testing to last a lifetime. But I would encourage people to backtest for peace of mind & that’s it. Generally speaking I think back testing Algo’s or Auto execution EA’s is a waste of time. The market today is 10 times more dynamic then what it was in the 90’s before the internet came on line. So there’s a lot more variables at play now. Plus the market is changing day to day with international geopolitical influences, so back testing beyond a few weeks is a waste of time. Because what worked 6 months ago isn’t working now. So if you go back 10 years and back test it your looking at market conditions which are extremely different.
  6. I know there are warehouses of IT guys back testing strategies in order to sell them. If they get one that works they package it up very quickly and start the marketing ASAP because they know any variance in market conditions and it won’t work. So it’s a quick fix that lasts a day and that’s it. It’s a shame so many people fall for this trap everyday!

  7. All of our trading decisions are manual. We have built a number of execution EA’s to utilise and enhance execution once we have identified the opportunities.
  8. We trade live economic data releases manually. I built a live trade execution tool (EA) that has advanced functionality. We call it T-Rex and it enables you to trade multiple pairs at once with total control of entry and exits and close all features at the click of a Button. It makes trading using MT4 a breeze.

    We have built a few EA’s to execute more technically based trading opportunities we identify. They save you wasting endless hours in front of the screens.

    1st Trendline Trader - It manages the trade plan by tracking the trendlines we draw. It ensures your entry level is always in the optimum level whilst at the same time manages our capital via stop adjustments, trailing stops, partial take profits and the like. It’s an absolute must for all traders and I execute 70% of my trades with it.

    2nd Ichimoku Trader - the same as Trendline Trader but instead of tracking trendlines it tracks the Ichimoku cloud. There’s so much cash on the YEN and the YEN crosses you’d be a fool to not trade them. It also manages every aspect of the trade from entry to exit. You identify the cloud and and currency direction and it does the rest.

    3rd T4T Scalper - this was built to enable you to take advantage of major technical levels and/or big round numbers. Once you identify the level you think will hold You can put it in play. You can set how many times it will trade, entry level and exit levels. I would never encourage traders to scalp mid- range or without any major technical or psychological level.

    All of our EA’s are for sale. They do not come with any subscriptions.

  9. We trade all majors and most crosses. A trader should have a full range of strategies that enables them to capture short term and long term opportunities.
  10. We use the Hourly bar charts for all short term trading opportunities. That’s the time frame all bank traders watch so that’s the one you should use.

    Long term we incorporate Daily charts. These levels are stronger then hourly support and resistance and generally when broken lead to a change in trend, so it’s important to track them.

    Scalping strategies - sure you can use them but you need to know what market set ups work. It’s not an every day strategy!

    Scalping is the biggest cause of traders losses and that’s because it’s heavily promoted by brokerage firms (that make money out of trade volume) and most commonly used mid range where the currencies have no direction.

    Free 7 day Trial to our entire program here.

    If you want to make the jump from Novice to Professional trader the number one thing you need is a solid Capital Management system.

    I developed the 4 consecutive loss rule many years ago and it is the best thing I ever designed/developed/invented.

    This is the key to trading like a Pro but it’s also the number 1 thing overlooked by Novice traders. If you don’t get this covered your on a collision course with failure.

    Once you have the Capital Management under control it’s time to understand how the market works and what to look at.

    Technical analysis provides entry and exit level ONLY.

    Fundamental analysis provides currency direction ONLY.

    You put entry levels with currency direction together then your on tack for a low risk - high probability trade. These are the ones you can load up on and make a lot of money.

    This is how the bankers trade and how I was taught at Citibank almost 30 years ago. It’s the way the market works.

    Solid capital management, knowledge and understanding of the market and you’re ready to make discretionary trades from wherever you are. You are not reliant on any systems and you don’t have to spend endless hours in front of the screens.

    This is how trading really is!

James Orr

decisivetrading.info

  1. Decisive Trading teaches the ability to read price action structure and interpret what the market is telling you. We use a number of price action tools to identify high probability trading zones. We always look to the market for clues as to what we should be doing.
  2. We use price action with a couple of simple indicators to make it easier and faster to interpret the market data in certain situations.
  3. We focus on technical analysis at Decisive Trading. We look to protect our accounts during high impact news releases by going flat the market. This allows us to avoid a lot of the dangers surrounding large slippage and the associated losses incurred through news event trading.
  4. We always backtest our systems rigorously. However, any true trader knows that a system may perform well in backtesting, but when ‘under fire’ in live markets, it can be very different. Decisive Trading founder James Orr trades every day. He evolves his methods alongside the market, so you are never left behind with an outdated system.
  5. We only use manual trading at Decisive Trading. If the banks spend hundreds of millions of pounds each year to build and maintain automated systems (that they protect vigorously) then it is unlikely that someone sitting in their bedroom can code a consistently profitable automatic trading system.
  6. We mainly focus on the short term, looking at 5 minute and 10 minute timeframes when day trading. However, there is also education available for longer term trend trading and swing trading.

Some Other Important Things

The site has a specific blog page - here.

When it comes to trading, there is a wealth of information available online. Everyone has the ability to access it. And yet, 90% of retail traders still fail to become consistently profitable. Why is that? At Decisive Trading, we believe that the emotional, as well as the technical side of trading, must be mastered in order to succeed.

Our Pro courses are continually evolving to keep pace with the ever changing market. Decisive Trading is focused on not only teaching you the technicals, but giving you the tools to progress through the emotional challenges that arise when you start risking money on live account. We take feedback on board and develop new ways to teach and support students. That is why we are the number one trading channel in the UK and have one of the fastest growing Trading Education YouTube channels worldwide.

Peter

jarrattdavis.com

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances flexible.
  2. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at? Mostly fundamental with technically selected entries, exits.
  3. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most? Mostly fundamental with technically selected entries, exits. We use very few indicators, mostly pivots and fibs. The importance of news items vary with time and as the various economies develop, but most important are: GDP, inflation and employment, and of course, central bank events.
  4. Backtesting or spontaneous trading. Do you backtest; if so what do you do for this? We do not back test.
  5. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them. Manual trading. We offer a signal service. This is as close as it comes to an EA or hands off approach for the public.
  6. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading? Our trading principles, with the necessary adjustments, can be applied short, medium and long term.

Our free fundamental analysis guide can be found here.

3 tips for becoming a successful trader:

  • Trading is messy, there is no perfect trading system, don't chase systems focus on developing a complete understanding.
  • Trade the correct way: always have a fundamental reason for a trade, use technical analysis to determine the optimum entry, limit your risk, work on your psychology.
  • Do not use leverage on a small account, focus on conservative, but consistent gains.

Shaun Overton

onestepremoved.com

I really only have 1 thing to share. The school of hard knocks is the best way to learn. Your education is going to come in the form of trading losses, so start out with the smallest account that you find boring. I don't care too much if I lose $100, but I definitely care if I lose $5,000. The optimum trade account for me is somewhere in the middle, at least for me. Your financial circumstances are different from mine. The goal is to make the account small enough that you can lose it without meaningfully affecting your life (ie., your wife won't divorce you because you lost the money).

Small mistakes are educational. Massive losses are catastrophic. Avoid catastrophic losses by limiting the amount of money that you put into an account.

  • Algorithms selectively applied based on current market circumstances.
  • Price action really boils down to an indicator, so everything is ultimately based on a combination of indicators. There's no single indicator that will tell you the correct move at all times. Most indicators and even combinations of indicators need to be applied in the right type of macromarket condition (i.e, 3-6 month outlook for volatility and trend).
  • Fundamental analysis often informs the system selection, but the actual trading is 100% automated.
  • Backtesting looking for statistically significant information. I then forward test either using historical data or live trading. It depends on the amount of money at stake, the expected opportunity cost of taking it slow, etc. It's uncommon for me to backtest entire systems. I typically backtest indicators to analyze how well it performs in different market types and how that performance varies from other tools.
  • Automated trading for all orders. I give away free EAs to demonstrate concepts here.
  • I've always done best on long term trades held for one month or longer. Crypoto is a great example.

There are several systems that I traded that had amazing short term performance. It's my opinion that the shorter time frame that the system uses, the more likely it is to fizzle out in 6-9 months. It's best to trade short term systems on massive leverage and to withdraw profits, when available, at the end of every month without exception. You are giving up compound growth with the knowledge that one day the system will blow up. You absolutely have to take money off the table on a regular basis with those systems.

http://www.onestepremoved.com/max-leverage-profit-risks/

The free EA link is my most popular give-away - here.

FX Academy

fxacademy.com

FXAcademy.com is a free resource for aspiring Forex traders who are looking to gain insight, knowledge and skills that they can use to trade currencies profitably for the long term.  The website offers free video courses as well as quizzes, related reading materials and trading simulators so that traders can become confident in their knowledge before trading on a live account.

  • We recommend flexible rules for opening and closing trades based upon a proper understanding of market fluctuations and a solid trading strategy with clear risk management rules in place.
  • Price action is best, analyzing simple momentum on multiple time frames simultaneously. If you must use an indicator, RSI on multiple time frames is the best.
  • Technical analysis is far superior to fundamental analysis, which should only ever be used as a filter to technical analysis. You can make money using only technical analysis much more easily than you can make money with only fundamental analysis. As the U.S. Dollar drives the Forex market, U.S. news of high importance is king.
  • Back testing should always be undertaken, ideally with excel or programmed software to cover thousands of samples over a multi-year period. Forex Tester is good for discretionary back testing.
  • An automated system of alerts with manual discretion over whether to take the trade is probably the best overall solution for most traders.
  • Swing trading on the H4 time frame, on only the 3 major pairs of EUR/USD, GBP/USD, and USD/JPY.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site - introduction to forex trading
  • Nevertheless, we believe that investing the necessary time to properly learn about the markets and to build proper technical strategies for success is a worthwhile time investment that will be returned many times over with a long and profitable trading career.

Vic Patel

forextraininggroup.com

Blog providing in depth educational articles and content on all things related to trading the Forex Market. Over 85,000 followers combined from Twitter, Facebook, Instagram, Linkedin and Newsletter subscribers.

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • I use a rule based discretionary approach in my trading.
  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • I trade using a combination of price action and market structure. I pay very close attention to Elliott wave formations, especially when there is alignment with Fib ratios.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • I am a purely technical trader, but I do monitor high volatility news events and try to avoid taking new positions and look to take risk off during these types of events. NFP day or scheduled Central Bank Rate statements are a few examples.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • I would not even think of trading any strategy or system without having backtested it first. I usually backtest manually off the price charts and like to go back at least 5 years or so.
  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Manual trading.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  • I have a watchlist of about 24 currency pairs, including all majors and most minors. I stay away from exotics due to liqudity concerns and wide spreads. My core method is swing based and trades can last anywhere from about 2 days to 10 days on average.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • Top 10 Forex Trading Tips That Will Make You A Better Trader
  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible.
  • I started to becom a consistently profitable trader when I was finally able to 1) think of trading in terms of probability and defined edges 2) begin to separate the negative emotions caused by losing trades and shift my mindset to realizing that losing trades are just the cost of doing business and 3) most importantly using a strict fixed fractional money management approach limiting risk on any trade to 1.5% of capital.
  • Can you name the TOP 5 (you can list more or less if you wish) of the informational resources any trader shouldn’t miss, so it can be your personal recommendation?
  • Top 5 Trading Books:
    1. All the Market Wizards Books
    2. Reminiscences of a Stock Operator
    3. Trading in the Zone
    4. The Black Swan
    5. A Man For All Markets

theforexguy.com

theforexguy.com

  1. Discretionary Trading - Meaning manual trading decisions using information gathered from the chart. I am involved with building trading algorithm concepts, and trade assistant tools, but I haven't made a 'set and forget' trading algorithm which you can turn on, and go spend time at the beach while it makes you money... yet :) Discretionary trading is definitely the most rewarding. The 'computer' in between your ears can analyze more data than you realize. Plus there is no better feeling of being in a monster trade that you were able to catch with your own analysis, and trading execution.
  2. Price Action Trading - 100% price action is the core foundation of trading. I know all about indicators, I have even made a few, but most indicators are just repeating to you what you can see on the chart anyway. Most traders are chasing that 'buy on green, sell on red' kind of indicator, and go way too far down that rabbit hole.
  3. Technical Analysis - With my price action trading, my technical analysis includes techniques like top-down analysis (combining higher time frame analysis with your trading time frame analysis). I also look at the market footprint, reading the swinging action swing low to swing high (or lack of), and definitely using structural components on the chart like major support and resistance levels, trend lines, box structure & price squeeze breakouts. Candlestick patterns are usually the final part of my trading decision, and I use them as a frame work to build my trade order around. One of my matras is "trade what you see, not what you think", so I am very conditioned to looking at price charts and making my decision based on what I see there, not what the news might be suggesting.
  4. Back Testing - Absolutely, this is a no-brianer. As technical traders, we're relying on finding patterns that repetitively appear in the market history that tend to produce the same outcome. If you're not studying market history, you won't truly know these patterns your trading. Right now I am venturing into programing tools to do extensive back testing for me, which means even to this day... almost 10 years as a price action trader, I am still collecting information from the market history.
  5. Manual Trading - It's very hard to create a fully automatic trading strategy. First there is a learning curve to becoming fluent in the programing language - then you've got to develop an algorithm which some of the smartest people in the Forex community are trying to do. Sometimes you see well performing algorithms on signal provider websites, but they have a short shelf life, and stop working when the winds change direction in the markets. So manual trading is your best chance to make something happen for you in the Forex market, once you've got manual trading mastered, then you can venture into Algorithmic trading and see how you go.
  6. Long-term - I consider myself a swing trader, and a breakout trader. So I am more of a medium term to long term trader. My successful trades usually last anywhere from a few days to a few weeks in length. I don't believe in short term time frame strategies, I believe the price action there is noisy and distorted due to the lack of data and substance in the candlesticks. Most new traders love to go on the lower time frames and pump out trades, and get the adrenaline pumping. But most will soon discover it doesn't work like that, for me it's all about "quality, not quantity" when it comes to time frames and trading signals.

Here are my top articles on price action trading:

Valuable Insights

Don't burn yourself out staring at charts all day

This is why swing trading is a perfect trading methodology for most people, it caters for the busy lifestyle. At the very minimum you only have to check the charts once per day - at the most a every few hours or so.

There is no correlation between how much time you spend staring at charts, and how much money you will make. Staring at charts will tempt you to make emotional decisions, over-think situations, force trades, or tamper with existing ones that should have been left alone.

Plan the Trade, and Trade the Plan

Extending on a little from the point above - most traders actually do very well planning out a great trade idea, and do a good job executing the idea. It is what happens after which is always sad to hear...

Many developing traders have trouble seeing their trade plan through, and freak out in situations like when the market is correcting against them. Failing to understand this is a natural market correction, they just see a diminish profit and loss on the trade and make the emotional decision to close the trade while there is still some profit left.

What happens next? The trade continues on in the initial direction and goes on to hit their original target... which crushes the trader's sole even more and chips away at their discipline.

Just set, forget, and collect - let the trade do it's thing naturally. Try to think of the trade outcome as binary, it either hits your stop, or your target - this is especially true for beginners who really struggle with the psychological aspect of letting trades run to larger profit targets.

Price Action Trading is Awesome - But You Can't Just Trade Candlestick Patterns

Most new traders, who are especially into price action trading, are very captivated by candlestick patterns. They're easy to understand, easy to spot on the chart, and easy to build a trade around.

Unfortunately, on their own they hold very little value as a good trade opportunity. I've done some algorithmic back testing and discovered most candlestick patterns on their own have a 10-20% chance of success.

So if you don't want to become a 'statistic', and you want to trade candlestick patterns - you need to know how to actually go good technical analysis first. Like top-down analysis, reading market conditions, looking at the footprint of the price action, identifying key reversal locations on the chart, or areas where you expect the market to make a big decision ( a 'break or bounce' situation).

When you learn those technical analyst skills, then you can combo them with candlestick patterns and catch very high reward potential trades.

When it comes to providing mind blowing information about price action trading, The Forex Guy website is to go-to place for specialized material about swing trading, breakout trading, and other forms of technical analysis in the Forex market. The website provides market commentary, trading tutorials, and videos walking through real trade examples. The site also offers 'The War Room', which is a membership for traders that gives them access to an advances Forex trading course, an awesome trade management panel for MT4, custom chart builder, and candlestick and pattern scanner for MT4 called the Battle Station.

risecapfx.com

risecapfx.com

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances: flexible rules for opening/closing trades depending on the market circumstances.
  • Trading system based on indicators or price action. What indicators or Price Action patterns are you looking at?: Trading system based on indicators, We use a system that use A few proprietary indicators, But the mother indicators are stochastic , DMA (Dynamic moving average) , ATR (Average true range) & Fibo-retracements / Extensions.
  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most? Technical analysis mostly.
  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this? We do spontaneous trading, back testing in not reliable as it is only dependent on broker’s tick data.
  • Manual trading or automated trading. If you have EAs (free or for sale) – it is a good place to mention them. We are specialized in automated trading, But our members are all pro-manual traders. During news events we handle the situations manually. We do create our own Ea, But it is not available for Free Neither for sale. But in future we would like to make these available.
  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading? Our trading style & system is a mix of short-term intraday trading & a mixture of scalping strategies. We always prefer H1 timeframe, But some of our Ea’s also work in M15-M30 time frame.
  • Some other important things:

  • Please give a link for the #1 free article or pdf on your site: You can use this interesting article that tells about Neural Networks.
  • risecapfx.com/neural-networks-in-fxmarket

  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go): Our core members has once been a novice trader, After almost 11 yrs of my own trading career, I understood that Money management is more important than a particular strategy. If you have a good strategy still you can have losses, due to adverse market condition. The higher the risk exposure the more chances are of burning a trading account unless the trading strategy is close to 99% accurate which is not possible in reality.

jannafx.com

jannafx.com

I freely share my approach and strategy ideas on my JannaFX.com blog - it's a very helpful resource for new traders, and I make free YouTube videos each week where I provide market reviews and technical analysis related to my strategy to help those who follow my system.

Here are the answers to your questions:

  1. I'm a self-taught trader and began formulating my approach to trading in 2005 after moving to the UK from Russia.
  2. I pretty-much use the same strategy now that I developed back in 2005 - it's based on price action. I use common patterns, such as triangles, head and shoulders, flags, etc.
  3. I combine technical and fundamental analysis with chart patterns. I don't use analysis tools - just patterns and lines on charts. I pay most attention to important economic and political news for the US, Europe, Australia, Canada, Japan as I trade those pairs.
  4. I don't back-test as the entries can't be easily automated.
  5. I basically trade manually, but I use a custom EA (which I'm hoping to make available) to open and manage trades for my main strategy - I set the entry levels and it handles the actual trades so I'm not glued to the screen. I also like to try new strategies and EAs.
  6. My favourite pair is EUR/USD and usually I trade on 15-30 minute charts with short-term objectives.

eaforexacademy.com

eaforexacademy.com

  1. By using FSB Pro we succeed to predefine some entry conditions in our strategies. For example, we can set the generator to create strategies for M15 chart trading, but to have Higher time frames as filters. If we select for example MACD on H1 and H4, the generator will generate us strategies, according to these filters. This way we keep the idea of following the trend and using flexible entries and exit conditions.
  2. We focus on algorithmic trading, but we have also Professional manual Forex trading with full analysis course. There Petko combines many indicators with price action trading in order to end up with a strategy that is trend following, flexible to all the market conditions and with well diversified risk.
  3. When comes to algorithmic trading, the most important is to avoid the Hot Economic news. It is very recommendable to pause the Expert Advisors during such events.
  4. Backtesting is the most important thing when generating new strategies. It is essential to use the history data from the broker you are planning to trade on. After that with EA Studio, we generate, test with Monte Carlo and Multi Market, and optimize the strategies. Backtesting is a must.
  5. EA Forex Academy has manual courses and algorithmic courses. Recently we have created Algorithmic trading courses for the Bitcoin and Etherem where we include 99 Experts. We show the whole process of generating, testing and trading with the 99 EAs. After that, we follow their performance and select only the Top once to trade into a live account. This way we always trade the EAs that are currently making profits.
  6. The most important in portfolio trading(many EAs into one account), is to have different time frames and assets into the account. This way you do not depend on 1 asset, 1 time frame, 1 strategy. The good diversification is a key point.

You can read more about our methods in the EA Blog or in our Forum. Also, you are very welcome to register and share your experience or ask questions.

EA Forex Academy offers variety of courses. From Manual trading to Algorithmic trading and from Forex, to Cryptocurrencies. It is your own choice to select how you want to trade. Each course have free lectures in the content, so you can have an idea, what is it about exactly, before enrolling.

Connor and Scott

twitter.com/tradetalkpippin

The twitter page offers two traders completely transparent trading journal and trading experiences whether we win or lose trade. We discuss in a very humorously about trading blunders, mistakes we've made and the mistakes to avoid. We offer education for our viewer in risk management, trading strategies and trading psychology.

Questionnaire

I use strictly price action system on the daily and four-hour charts using support and resistance zones I personally predetermined from looking at the weekly chart. I look for simple flag patterns and significant pin bars and engulfing patterns with these qualifications:

Engulfing Candle

  • Space to the left. There must be considerable space to the left as to illustrate this is a significant zone that has not been tested for a long period of time.
  • Candle size. The candle must be bigger than the last five previous candles
  • Candle stick. The candle is allowed to have some wick but must close in the top percentile of the candle.
  • Zone. It candle must touch and close on a support and resistance zone.
  • Chania

    Pinbar

  • Space to the left. There must be considerable space to the left as to illustrate this is a significant zone that has not been tested for a long period of time.
  • Candle size. The candle must be bigger than the last five previous candles
  • Candle stick. The candle must close in the bottom 1/3 of the candle
  • Zone. It candle must touch and close on a support and resistance zone.
  • Chania

    Flag pattern

  • Must touch the designated box at least 5 times with individual candle wicks
  • Must have a large flag pole and the break out must be clear.
  • No support and resistance zones needed
  • Chania

    Exit strategy

Move the stop loss above the next higher low in a buy trade and lower low in a sell trade. This method allows for higher R winners but a lower win rate at about 49%

Risk

2% per trade

Back testing

I back test all my strategies extensively on forex tester here are some of my results (I do not use all these strategies):

Exemple №1

Exemple №2

Exemple №3

The 3 insights were as follows:

  1. BACK TEST!, BACK TEST!!, BACK TEST!!!
  2. Develop the psychological skills needed for risk management, dealing with draw downs and following system rules
  3. Most important, Self-belief

Spencer Li

synapsetrading.com

Spencer has answered the Qs here:

Kaye Lee

straighttalktrading.wordpress.com

  • Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  • Straight Talk Trading systems are systematic discretionary, with trade decisions that are approximately 85% systematic, with enough wriggle room to exercise judgment in the remaining 15%. They rely on precise identification of areas of market consolidation, trend and regions of choppiness for the implementation of different strategies.

  • Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  • We have discovered that few traders have the natural talent to trade pure price action patterns from the start, and use indicators to help guide and train their eye. With clients from FX, futures, equities and options markets, we mostly utilise commonly available indicators such as Bollinger Bands, moving averages, stochastics, RSI and MACD. The settings are different from the standard ones, as they are optimised to approximate proprietary indicators. The strategies aim to enter before a chart pattern is fully formed, and encompass trading in a pullback, range trading, countertrend trading and breakouts.

  • Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention the most?
  • Straight Talk Trading focuses mainly on technical analysis, whilst monitoring the potential disruption news announcements may create in price action. We divide technical analysis into cycle-based and support/resistance-based approaches, and then combine the two for optimum trades. Cycle-based technical analysis is rooted in Dow Theory, and the framework is designed so that several indicators will work together to provide information on market trend, cyclicity, automated support/resistance, multiple timeframe factors and momentum. Support/resistance- based technical analysis is based on Elliott wave theory, Fibonacci levels, harmonic patterns and proprietary Gann-based techniques.

  • Backtesting or spontaneous trading. Do you backtest; if so what do you do for this?
  • We backtest and design each component of the trading systems individually and in tandem, with proprietary software. We also encourage our clients to test our systems on Forex Tester, because of its great flexibility with multiple timeframe analysis and ease of execution.

  • Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  • Our trading systems are manual.

  • Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading
  • Our strategies work on all pairs and on all timeframes, although they increase in probability on higher timeframes. I personally prefer to trade hourly and 15-minute charts, but as we work one-on-one with our clients, they can easily adjust them to four-hourly or daily trading.

Some other important things:

This goes to the Straight Talk blog, and this article has consistently been the most visited one since it was published, even though it is surprisingly short.

What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go)?

  1. Do not become obsessed with entries at first. Focus on identifying different market environments as possible. For example, you could divide environments into steady trend, steady range, choppy trend and choppy range. Design entry and exit tactics only when you are sure of each environment. Too many novices fail because they take the first entry technique (candlestick pattern, chart pattern, moving average cross, stochastic pattern etc.) they learn, and blindly apply to every scenario. There is no single hammer for every nail, and if you go duck hunting in tiger territory, you are liable to get eaten!
  2. Focus on automating as much of the trading decision-making process as possible. Emotions will blindside novices into taking trades even when the trend has turned against them. Even a simple moving average crossover as a trend indicator will help prevent this, and reduce profitability.
  3. Discretion and intuition come with experience. You may be one of the 0.01% of people who have it naturally, but it is safer not to try taking discretionary trades until you have at least backtested 10 years of data on hourly charts on 8 currency pairs. The Forex Tester software is perfect for this, as you will be able to do it very quickly.

Additional comments:

I published for DailyFX for a period, and tracked the results of most trades. They are all listed here. A more recent historical record is available at Trades Happening Now: Trading track record and Trade history

It might also be of interest that our techniques work fine on cryptocurrencies as well here.

Andy Demi

londontradinggroup.com

Which option characterizes your web source (just pick one option from each section, any complementary thoughts on the question would also be extremely helpful):

  1. Pre-defined trading algorithm or flexible rules for opening/closing trades depending on the market circumstances
  2. Answer: We use pre-defined rules regardless of market conditions or circumstances. Rules are rules. However, we do allow some discretion for trade management and market timing, as we believe that a trader’s instinct and experience can give you an edge compared to a mechanical black box system.

  3. Indicators based trading system or price action system. What indicators or Price Action patterns are you looking at?
  4. Answer: We mainly base our trading decisions on price action, as we believe price action is King, but we do include indicators which are useful in confirming trade setups.

    Finding institutional supply and demand levels, combined with our proprietary Fibonacci system, allows us to trade the most effective and consistently profitable waves.

  5. Technical analysis or fundamental analysis. Which technical analysis tools do you use, which news do you pay attention to the most?
  6. Answer: As Fundamental forces are less cyclical and therefore, less predictable, we believe that technical analysis is the only way to achieve consistent results. Technical analysis with fixed, pre-determined, and recurring rules, allows us to remove our opinion and gives us the opportunity to measure both our systems’ performance as well as our own.

    Notwithstanding our strong belief in technical analysis as the exclusive driver of consistent results, we do review key fundamental data to consider the wider implications of any announcement, as understanding the bigger picture from a macro-economic perspective is important, but it is not essential and does not have a major impact in our daily trading decision making.

    Regarding technical tools, we focus a lot on price action so support and resistance, trend lines and Fibonacci are essential priorities in our analysis. We also do a top-down, multiple timeframe analysis, to pinpoint the best opportunities. In addition we also use moving averages, MACD and the daily trading range to assist in helping us reach our trading decisions.

  7. Back testing or spontaneous trading. Do you back test; if so what do you do for this?
  8. Answer: Absolutely. Each strategy we use has been back tested extensively on Forex Tester for a confirmation of an edge, then forward tested in the live markets with a real trading account for statistically significant results.

  9. Manual trading or automated trading. If you have EAs (free of for sale) – it is a good place to mention them.
  10. Answer: We do both manual and automated trading. Most of our portfolio is traded with systematic technical analysis and manual entries into the market. We do however, also run an EA which aims to take advantage of key pivot points and the volatility from news trading.

    By doing both this allows us to diversify and provides for a more consistent equity curve.

  11. Long-term or short-term or scalping strategies. Which time frames, currency pairs are you trading?
  12. Answer: Our trading methodology can be used for both day trading and swing trading depending on how much time you are able (or willing) to dedicate to the markets. Our typical holding period can range from 4 to 8 hours and up to 1 to 2 weeks.

    The EA we utilise has the ability to risk 5 to 10 pips (usually applied to scalp trading), but can catch big moves (400 to 800 pips). The win ratio is lower but the huge r/r makes up for this.

    The timeframes we utilise are Weekly, Daily, 4 Hours, 1 Hour.

    We trade 28 Currency Pairs (made up for the 7 Majors combined). So GBP, EUR, AUD, NZD, CAD, JPY, CHF.

Some other important things:

  • Please give a link for the #1 free article or pdf on your site
  • Answer: Our trading methodology can be used for both day trading and swing trading depending on how much time you are able (or willing) to dedicate to the markets. Our typical holding period can range from 4 to 8 hours and up to 1 to 2 weeks.

    Interview on Tip TV where I called the top in the US Dollar and Interview about trading routine.

  • What are the three incredibly valuable insights/actions that made the transition from a novice trader to a successful one possible (you don’t have to share your secret method, just some basic insights so the reader could understand at which direction to go)
  • Answer: I learnt to trade 15 years ago. In the beginning, I was naïve, but had good success following a very simple system. I was made to believe that trading the markets was easy. As the years went on, though, I experienced some pretty big setbacks and I lost a lot of money. The problem was, I later realised, that I was allowing my emotions to cloud my judgment, something which cost me dearly – and something I had never really considered until there was a lot more money at stake.

    One of the most important lessons I learnt from my experience, was about the importance of risk management, discipline, and creating rules that protect you from YOURSELF. This is why I’m an avid proponent of technical analysis and back testing. You must avoid using too much discretion when making your trading decisions and rely instead, on a system built through years of experience, determination, and one which consistently yields profitable results.

    My rules are fixed. A trend line is always drawn the same way (we’ve developed a proprietary indicator which will automatically plot these for you). The Fibonacci swings are always created the same way (using our proprietary indicator). The support and resistance lines are always the same (automatically drawn with our indicator). Having fixed rules is a crucial component of success, as it allowed me to go back and test everything. Once I discovered the system was working, trading became a lot less complicated. It is about trust – trusting your experience, trusting your education, trusting yourself, and most importantly, trusting your strategy.

    I believe that trading is a journey. There is no quick fix, or “get rich quick” scheme. I always set big goals, because setting big goals has been vital to my success. Once set, I was driven to put the effort in to achieve these goals. Even today after 15 years as a trader, I set big goals, I follow a strict routine and I treat every trading day as the most important day.

    One final piece of advice for anybody still in the infancy of their trading is this: build a trade plan with clearly defined rules, back test your system, and journal all your trades in a spreadsheet with an explanation of why you entered the trade and how you managed the trade.

    Review your trade journal once a week and your trade plan once a quarter. Success is a formula that anyone can achieve if they want it.

    If you would like to gain access to trading tools such as a trade plan, trade journal or a risk management spread sheet, or for more information about becoming a trader or enhancing your existing skill, visit us at londontradinggroup.com/trading-tools. We are Global Leaders in Trader Training™.

John Fortune

topforextargets.com

TFT Pro Forex Course shows traders how to read just the naked charts and market Structure without any indicators. This seven part video series includes a rules based methodology which is the same one used by Top Forex Targets to train clients of FCA regulated brokerages in the City of London.

In the course we outline 10 well defined rules that can be used to execute trades in a professional trading routine as well as explaining the data and the maths behind the process and why it works.

With the course comes the Trading Dashboard excel spreadsheet to help traders form a consistant and professional trading routine.

Also comes with an additional guide on the anatomy of Japanese Candlesticks To see exactly what is in the TFT Pro Forex Course click here

To purchase the TFT Pro Forex Course please click here