"Well what should I do instead then?" You watch the rest of my channel, it has the answers, that's why I created it. You can start here ua-cam.com/video/YWNloLjXqeI/v-deo.html
Hi, VP. You said we should never use these 12 tools. But I still use the Japanese candles on my chart and am waiting for your video to explain more. Is it coming?
hi vp sorry for bothering you, im just started watching your video and still learning how to trade. but im always busy with my work so I dont have much time to open a chart in computer. I only trade in my smartphone. so in your opinion is that okay ? I mean, is there a great combination just using the indicator in mt4 ? if the answer is yes I probably gonna test out all the indicator just like you did. hope you will see this and reply. by the way im sorry, my english is not very good.
lol some people are using solar activity so you can as well try the weather if it rains we go down sun shines we go up you live in africa other way around lol
As long as youve back tested and forward tested an indicator and it works for you, cancel out the noise people say about it. One indicator may not work for you but could work for another person.
When you said "Fibonacci," I nearly jumped out of my chair with glee. I'm dead serious. I haven't been trading for long. I started on stocks and had planned to stay there, but some very disruptive life events forced me to put that line of study down. I turned to Forex for a more flexible schedule - and while my money management is already solid (I recognized the ultimate importance of this immediately), I'm still basically just a break-even trader. Then I found Fibonacci. I played with it for days trying to figure out how this could possibly work, or if there was really any logical or mathematical basis for its use I concluded that it has to be madness - it feels to me like pseudoscience or "reading the tea leaves." Here, throw some lines over here that have nothing to do with the data we actually have access to and pretend like they actually mean something. Wait what? No! Anyway, THANK YOU. :) I hope your series changes my Forex trading for the better - but at very least I feel a bit more sane now :)
Been trying to get into forex for a while and my brother showed me this channel, not even watched a fraction of your content and I feel as though i’ve learnt tons more from you than any other channel out there, much respect to you for sharing your knowledge for free and can’t wait to learn more from you 👊🏼🏴
Im in complete shock, I've been studying forex trading for a couple of months and this goes against what everyone tells me, this is mindblowing, thank you again brother!!!
Of course, you should never use Support and Resistance lines to catch the "big reversal" and what not, but one thing that will surely make your algorithm even stronger is by using it to avoid trades! If the price is sitting at the level do not place as banks are getting involved here to mess up your trade!
All indicators are based upon mathematics and math has not changed. They take and modify moving averages by a formula, an algorithm... Many "newer" indicators are simply variants on the old indicators VP decries... Is there really a "new" indicator that modifies moving averages differently than the "classic" indicators? I see newer indicators that display signals differently and modify things in different ways, but at the core, I doubt any of them are really that different than the indicators he decries. You can trace a "new" indicator to an origin from Stochastics, RSI, Moving Averages, MACD, CCI, ADX, Bollinger Bands etc or even a more complex combination. The problem with indicators is that market conditions vary from day to day, more trending or more ranging, and indicators cannot adjust to these conditions... Moving averages work better in trending markets, oscillators better in ranging. Mind you I use indicators, and am not that down on them. (Recommend TCCI for MT4.) "Trading reversals" is simply trying to catch the beginning of a new trend, but this isn't so easy because of Persistance of Trend. Being a trend trader means you wait until the trend is more solidly established. I find it interesting that VP says he has a "Holy Grail" system of indicators that are profitable.
(I'm french...sorry if it's not that clear) Always thought that if you have THE best strategy, you shouldn't need to sell it if you doing so well. And if you have a real passion about something and have a great heart, you just want to tell everyone for free. I feel like I'm always in front of peoples trying to sell me something with fancy speechs without seeing the results. It's like having a car seller who's telling you that you need to buy it to see the performance. Thank you so much VP spreading this out.
When God out of his good will provides a Priceless Mentor with a good heart for you, a Person who dose not demand a penny from you, my dear, first off all appreciate God for such a gift, then value the gift, VP you are one of a kind.............thankssssssssssssss
Don't hold your breath, he's not going to present it on a silver platter. That kind of upset me at first, but after searching for indicators myself, I can understand it. When you've spent countless man-hours to find a consistent way of making money, you're not giving it away no matter what, unless it's for someone you really love. Besides, people who haven't figured out a system by themselves will probably fuck it up anyways. I'm sure the critics would come in saying his system is bullshit and doesn't work, and it would just be a gigantic shit show.
WOW, Blown away.... Been trading in the forex market for a year now and have become profitable in the last few months but this video just destroyed all my strategies...... You have my absolute full attention now!!! I am going to watch your every video, listen to your pod casts and learn the right way to trade forex. Thank you very much for taking the time to share this priceless knowledge....
In summery: These are consider too old and outdated Indicaters, and are also too Popular: 12) ADX Indicator 11) Trend Lines 10) Stochastics 9) Price Levels 8) CCI Indicator 7) Support and Resistance Lines 6) Japanese Candle Sticks 5) Chart Patterns 4) Bollinger Bands 3) Fibonacci 2) RSI 1) Moving Average CrossOvers
people need to realise certain things are set up on forex to make you think and feel a certain way to suck you in, be it chart patterns, even candlesticks like mentioned. for example, if you ever see a head and shoulders pattern it often goes the opposite direction to expected, thats because banks KNOW everyone watches for it so counters this, instead angled head and shoulders patterns are used for the banks which are not noticed by retail traders ..
My friend you also do like the big banks using the black jack theory you give us some information just to keep our interest but in the end you don't give a real or information for improving our trading. thumbs up for that
He said that you need to have your own system that will work for you. As a trader we must also be hardworking and do research of our own. How can we learn to do this if we would always rely to others? Wouldn’t be great if we are making profits on our own because it’s the fruit of the patience and hard work? Just saying.
Hey man I totally agree with you. It's like dangling a string basically don't use anything that's out there today but at the same time I WONT tell you what works or even hint what works. Useless as far as I'm concerned.
The Fib tool on MT4 used properly is a precision instrument. Once I was able to configure it properly (it took 7 years to figure this out) I was able to use it to trade extremely profitably and enjoy a wonderful trading career. I do not doubt you are a gifted mentor and appreciate your teachings here. Bear in mind that none of us know everything there is to know about the way the forex market moves. Me especially. However, when it comes to the Fib tool you couldnt be more incorrect. I say all of this with the utmost respect for you. I wish you and your followers the very best in trading. It can be an extremely satisfying endeavor.
So you took 7 years of losses on something ineffective until it became effective? That sounds pretty crazy. Did you make up your losses? Why didn't you try something else? Clearly there's another way.
For the people asking for his indicators......me personally, I wouldn’t give them out for free if they are reliable and working. Doing that would put it on the same path as the rest of the indicators, and inevitably making it outdated.
I TOTALLY AGREE, Big Banks video has changed my life after listening again and again. It clicked all together so you can take control of your life back. Real Shit VP! Thank the Heavens for you. Salute to the Trend Traders! LET'S GOOOOOOOOOOOOOOOO. Don't be the 99%.
im trying so hard not to be pissed because i am ACTUALLY successful with some of these tools. But keeping an open mind regardless, i may learn something
I love his videos and actually respect his content. But sometimes I just can't seem but to feel that VP thinks he's the only profitable trader out there. VAST majority of the 1% (profitable traders), use at least 4/12 of the things he mentioned here. Support/resistance, trend lines, etc. They are all valid technical tools. I'm just saying, I love you VP, but don't take everything he says blindly just because he says it. Diversify your knowledge and mix and match to see what works best for you. Much love everyone!
Well yeah, that's all people thought existed for a very long time, and some people did make actual careers out of it. But the odds of doing this were crazy long. We put the odds in our favor here.
@@NoNonsenseForex Fair. Again why I love you and respect you man. You tried different things, and a lot of them. You spent countless hours to create your fully custom system, and now you are teaching it. All the best!
I have watched your big banks video and it changed the game for me. I always thought someone was pushing it against me and it was good to know I wasn't wrong.
Hey VP. I just wanted to say thank you man. I only started trading since last month and coming across your content has really opened my mind🔥. I can't express how grateful I am for your insight and the fact that you're making it available for free bro. Thank you man. I'mma study your teachings to the detail!!. Sending you love and respect from Namibia VP. Thanks again G🔥🔥🔥💪
Haha, learn and relearn, Megan! I traded in 2009, lost a whole lot of money but didn't give up. Last year, I started again, removed my bad habits and took on new strategies. Now things look good on demo. Looking forward to going live.
LOL, I can't believe how heavily dependent I was with ADX and Moving Average crossovers. I actually hated ATR, didn't see the benefit of using Stop Loss Orders, and found volume indicators to be worthless. So I never used them. All my positions were left open over night without Stop Loss Orders, lol. Why? Because I was never thought the right way to use it. I was getting random answers from different sources on where to place Stop Loss Orders. I'm like, "I'm better without it." Yikes... I would have been in danger in the long run. After learning from you, I implement ATR, Stop Loss Orders and volume indicators in my system. Thank you VP. I'm grateful that I found you and your channel.
Like damn, all these indicators has caused more harm than good to my trading. I stopped trading for a while trying to figure out where I went wrong and found your channel and all of these indicators has now made sense why my trading keeps on losing. Thanks Mate and Im still waiting for your video about how to trade like a bank and right entry and exit reason for every trade. Have a great day!
17:18 IS SO TRUE one time i went into a buy stop because i though it was gonna go up so i did a buy stop just to be safe in case it didnt and the chart literally triggered the buy stop then spiked and hit my stop loss for a split second then shot straight up ive never been so offended by a trade in my life
I use trendlines,50 MA and Patterns and they work 90% of the time and I am making money everyday no stress, so no it's not that these things don't work but how you use them, it took me 3 years to develop how i use this tools as my strategy,and i really don't think I can be able to teach anyone else how i use them coz I'm the one who can understand nd do it better as the combination was my own creation
I use stochastics as a volume indicator to find GENERAL entry and exit points. No indicator is good by itself, its like saying you can build a house with just a hammer.
When looking for indicators right now, I see RSI I leave the website and so far its weeded out a good amount of stuff I didnt even have to read lol... Thanks for making the Hay Stack smaller and the needle bigger!
I got a good laugh at the beginning of this video when you mentioned pissing off every forex trader ever, but was kind of mad when I got halfway through this video, and was officially triggered when u said Fibonacci. But, nevertheless, I am in this so-called 99% and will therefore continue to hear you out and check out the rest of this channel
I've been all over he Internet and you are right..... So many bullshitters out there. You on the other hand straight, direct and to the point and no bullshit...... And the fact that you do this for free just adds to your credibility and says much about you as a person.... All of it good. Many many thanks, excellent work. 👍👌
Cool, I have no bad habits to break in terms of indicators, since I’m just beginning my Forex learning. Sure appreciate your candor and direct approach. That serves me well.
Ouch man. Ouch... It hurts so bad because I spent the best part of the last decade messing around with all of these. And that's caused me lots of pain. VP, you are truly the king of no BS fx trading. Thx u
Just a thought here...Since we're all looking at our charts a bit differently now, I noticed that I am not really concerned about candlesticks much at all...in fact, I've been focused solely on the indicators and their subsequent signals. That being said; I changed the color of the candles to white on white for both bull and bear out of curiosity because, like many of you, I was taught to be mindful of body and wick size and proportion, formations and patterns which guided my decisions. The first thing I noticed was that I no longer felt any emotion with regard to what the candles were doing, only what the indicators were telling me. It helped prevent the urge to close out something prematurely and to let the system do its thing. Novel idea, right? Anyways, it might prove to be a good backtesting variable and allow us to drill down on what makes the algorithm work best without outside influence. Why white? Well, visually, they permitted the indicators to become the focus of the chart...but I supposed "seashell", "ivory" or "pale golden rod" works as well...
Most custom indicators are built around old, tried and trusted indicators i.e. moving averages and RSI. Personally, I like a combination of the Hull MA, 2 tight MA cross and ATR being my all time favourites. For example: 1 - 20 SMA, Shift 2 (Red) 2 - 20 Weighted MA, Shift -2 (Green) 3 - 26 Hull MA 4 - ATR period 7 5 - ADX and/or RSI provides entry confirmation. 6 - PSAR Step = 0.009 (currently testing for trailing stop) (The MA's may require small adjustments for each instrument) I do not trade when the market is range bound I only trade when at least two bars have closed and the two MA show a clear separation. My first TP is 1x ATR, the second T P will follow the trend SL = 2X ATR. Once first TP is hit, move the SL to BE Works well on H1 and daily TFs I have been searching for over four years to find the best strategy that works for me and this it. I welcome your comments.
I recently discovered Hull MA's myself, and they're awesome! 24 and 48 period, are worth looking at. Cross-overs don't mean much with Hull MAs, just the upward/downward direction and angle (rate of change). One tip I'd offer for all your settings there is they should be an even multiple or fraction of the next higher timeframe. For instance, a 7 period ATR will include the last 7 bars on your chart. Depending on your broker's server time, you either have 5 or 6 candles per week. Let's assume you have 6 candles per week... If you're looking at 7 bars on a Monday, it will include 2 (small) Sunday bars. But on a Thursday, it will only include 1 Sunday. So you're introducing some unnecessary chop into the ATR line. On the other hand, if you're looking for volatility spikes using the ATR on the H1, you should go with something far less than 24 (perhaps 4, 6, or 8) or you'll end up capturing a whole day's cycle and have a lot of useless lag. For your MA's, particularly the Simple MA on the D1 timeframe, try 18 or 24 (4 weeks x 6 bars/week). With a simple MA, that bar dropping off 20 days ago is weighted the same as the one you're adding today, so you want those bars to occur on the same part of the weekly cycle. Side note: Hunt down ATR and ADX versions that are true to Welles' Wilder's calculations. MUUUCH more accurate.
you talk about the forex market as in a market completely controlled and run by the big banks, not many people on youtube do .. keep it up good content
I have to partially disagree with VP on the ADX... The problem with the built-in MetaTrader 4 ADX indicator is that MetaTrader butchers the calculation of ATR, which is a component of +DI and -DI. In turn, the flawed DI calculations screw up the ADX line. Specifically, all three of the lines are smoothed incorrectly. ATR, +/- DI, ADX were all created by Welles J Wilder and are detailed in his book, "New Concepts in Technical Trading Systems." You can easily find a free PDF online. We all basically know what the ATR is, or at least what it should be... The +/-DI are measuring the degree of higher highs and lower lows, relative to ATR. So the DI's are actually a pretty good/early indication of a trend formation or reversal, as well as its strength. The ADX line is a composite of the 2 DI lines and measures the overall trend strength. Basically, ADX above 20 to 25 is a good trend. Below 20 is ranging. Metatrader 5 has two separate built-in ADX indicators... The Metatrader 4 version, and a Wilder version. I still use MT4, so I took the Wilder version file and converted it to MT4's language. I also tinkered with it to make it ignore the small Sunday candles because they erroneously flatten all the lines (ATR, DI, ADX). I use 10 periods (two full weeks of trade data, excluding Sundays). I consider an instrument to be trending if the ADX is above 20 and increasing, the direction will be obvious but the DI's will confirm it. I use stop orders for entry, to further confirm the trend is continuing in a favorable direction. I tighten my stop when the ADX begins to decline. I use it along with a home-brewed momentum indicator and a derivative of RSI called QQE ADV. When all three agree, it's off to the races.
Garren Sizer Is it possible to have a copy of the Wilder version for MT4? or instructions on how to convert it from the MT5 version to the MT4? please advise. Really appreciate it. Thank you.
i'm quite new to the Forex world but as a stocks trader, i rarely use most of these tools (except Bollinger bands for the same purpose that he mentioned) and agree with most of what have been presented (both in this particular video and in the entire series so far). i actually like to know where this series is headed!!
Well, I can`t agree or disagree completely to these assumptions. I will not say an indicator in itself is either good or bad because there a lots of factors at play here. Market conditions, trading style, personality, indicator mix, time frames etc. Some of these indicators can be used in a more better way than we use them presently (e.g the ATR indicator which is your favorite). That`s where doing our research & homework comes into play. What may work for one might be counter-productive to another. From me own tiny experience Fibonacci has been a good tool. It wasn`t at 1st because of the way I used it but over time i learnt better ways to apply it. I`m still learning notwithstanding. In view of this, i won`t agree or disagree, yet. I will only take my time to explore & experiment your assumptions. What ever works to my expectations I will embrace. But what ever does not work I will trash into to bin. Thanks for the video. Thumbs up
Literally don't have words. I literaly recently use 6 of these and I'm fairly new to forex have been in here for 3 months now and the vast and almost painful majority of videos I have watched contained them. And they worked sometimes and didn't work other times for other reasons. I never thought I'd actually be skeptical of this as I know what he is saying is absolutely correct. But it is painful to watch basically 90% or even more of my knowldge in the forx world get washed down the drain by one video.
after watching this I feel like I've wasted the last year of my life.. -____- kinda pissed about it .. I've ben been binging all your podcasts now im on the vids so far Im glad i found your channel.
I have only been trading currency for about a year, and where i accept there are going to be losses among the wins.. there have been losing times when, these losses have come along and i have absolutely been dumbfounded, along this trading journey i have picked up on the well used indicators which everybody has, then consequently found myself chasing the indicators, rather than concentrating on price action, looking back over my records, since i first started i was far more successful, by simply by not knowing what these indicators did. back in those days i was simply using an engulfing pattern, and sma cross over indicators, ( i know they are on this list) but the difference for me was simple i never got greedy, i simply had a compounded daily target i tried to make and stuck to it
The man is truly No-Nonsense...lol Thanks for the perspective VP.... Im a bit skeptical about your remarks about support and resistance though, but I get you on all the others 100% . I dont do cross-overs but I do use Moving averages alot differently.
I disagree on Chart Patterns, Trendlines and support and resistance. These are part of price action trading and it work perfectly for me. I don't care for the rest.
Out of sheer curiosity, I tested a couple of these on the list with a backtesting set up and from my personal experience, Bollinger Bands have been very successful but not in the way where you trade the “Over Bought” and “Over Sold” because those hardly seem to work most times. If it’s used as a trend indicator, it actually works very well and according to the backtesting results based upon my trading style, it’s consistently profitable with a few bumps here and there. Otherwise I agree with a lot of your videos and the content you share. I believe most indicators can be used unconventionally to be profitable, although some are just straight up bad. I think it’s the approach to these indicators that matter and how the data is utilized to gauge if an asset is worth buying or not
He might be a good trader but this video practically said to not trade at all. I trade s/r, trendlines, candlesticks, patterns, but no indicators you choose in an indicators section in any chart. What he didn't mention was that you need higher time frames to use these tools correctly. You may see hammers everywhere but I guarantee you are looking at what it is and not where it is. It's more important where the placement is than the thing itself
This was absolutely hilarious to watch, I thought I was so slick using fib and S&R and candlestick shapes and patterns. Then you're just shooting them down one by one hahhahahah. My reaction to every single one was OHHHH NOOOOO, But still loved the video and i'm going to take your advice onboard! I'll let you know if I go pro!
You have a very interesting approach to trading. I have to admit, I'm guilty of using a few of the tools mentioned but weirdly interested in what you have to say and adapt my own approach. Very nice videos so far.
Just found you on UA-cam VP. Thankyou for sharing your knowledge. Looking forward to getting through 6 years of videos and podcasts! This video has introduced an idea to me that I was unaware of. It has cemented my understanding of it and will forever be an essential part of my trading plan. Bravo Sir.
@@shaolingral If you don't like VP's trading way just go somewhere else. I just can tell you this, It is working for me and a lot of followers that have had the patience to put his system together. keep doing what you do if it works for you and don't discredit something that you don't even know. Thank you
LMAO. My fave quote from you so far in your price action blog post (doing a binge on your blogs from start to finish): "The internet allowed people like you to finally have a voice, and this is the only reason I hate the internet. Back in the day, you would have been put in a cage and wheeled around from carnival to carnival so people could laugh and poke you with sticks." OMG. I could not stop laughing. I love your no nonsense, matter of fact way of writing.
Have to disagree with on this video, you seem to think you have all the knowlege when coming to trading, no my friend most of them are still worth using.
FOUND it. Fucking re-listening to videos for the 2nd and 3rd time to find the MA mention. Some form of MA(SMA, VMA, Hull, etc...) is almost unavoidable to me at this point. This year I went from wiping my brain clean of 99% of indicators, altogether, right back to back-testing them for hours and hours to find my best confirmation and exit....... The goal here is to turn my exhausting early-ass-morning trading routine (London into NY) into the more sane and sustainable "shortly before daily candle close" routine. Thy path is before me...... I just wish your channel would STOP BECOMING MORE POPULAR DAILY Aaaaand good night internet.
Well, reason that some techniques does not work for one trader and not MATCH his TRADING style, does not mean they are bad. But that list tell us alot about the trader....
Since he is a trader that primarily uses indicators for his trading they very much match his trading style. Unfortunatly not all indicators are born equal and anyone who tests their indicators would know that.
Well you were definitely successful! There are a lot of unhappy comments on this video :) If only they would watch the rest of your videos they might be able to wrap their heads around what you say and why you say.
To bad that i find ur tutorials after such a long time(painful experience in Forex :) )....i think ur message is: " find the most confortable indicator, "undress it", build an strategy with the "undress" version in that indicator( ore those)...and have patiens with that strategy(is the healty one)...eaven if we have to wait for years...This is Forex....My recomandation.....Best tutorials(advices) on the web....don t waste ur time with "succesful traders"!!!
There are only few (2 or 3) indicators on the market(we have them for free actually, in mt4 ;) )hwo are desperatly tryn to tell us sommthin, they don t have a common language(when to buy or when to sell -when to go out) they will never!!!!....Take a bit frome 1(indicator), a bit for 2th and a bit for 3th, and build a language.....the MARKET LANGUAGE!!! Entire my re5pect for what ur doin'....I just wait for ur new video!!! RE5PECT!!!
I seen couple your video they have a good contents and completely different from other channels but a bit confused who to believe or who is right.Can you make one video with live trading to see how’s your theories work or your strategies
u could use it successfully, but u have to have a consistent way of filtering the price interaction with the lvls - same goes for support, resitance and trendlines
bro to say fibonacci doesn't work is crazy, the whole universe moves in the sequence, Ive consistently hit 500+ pips per week with fibonacci alone just trading of 61.8 and 88.6 retracements, I Agree with the. rest except for channels on higher timeframes, they clearly exist and are easy to trade..perfect example gbpnzd this year
Absolutely brilliant, I spent about 6 hours yesterday listening to videos (And making notes) on the Elliott wave theory, and had pretty much come to the same conclusion about the fibo numbers! Seems to have a fit for everything, hence anything! Utterly useless.
I don't understand what you mean by not using trend lines when we are trend traders. I get to take down the trend lines or not draw them, but aren't we still looking for what we were going to draw anyway as a trend trader? A little confused. Oh and can you drop me the link to the less common used indis as I couldn't find the link after watching your Indicators video. By the way ALL the videos I've watched are great and very informative. Just a little unsure on some points. Thank you Alex
I use a Stochastic/RSI combination and it works for me. The only difference for me is I have removed the 20/80 levels and simply have a 50 level. Above 50, go long and below 50 go short but this must also align with the Stochastic before placing an order. I also have an HMA indi serving as my baseline for continuations purposes. I use this setup, solely on the daily charts
I don’t agree I use rsi, support and resistance, moving avg. crosses, a little fibs just on pullbacks if I’m scalping, but I also use a site to tell me where majority of the investments sit and I trade the minority. I think at least 7 of the things he mentioned in the video can be usefully if you have a good strategy and discipline
nothing, they continue to manipulate the forex market because this channel will only change maximum 1% of Forex traders in a span of years and its a very small impact for the big banks.
Judging that not all believe him. Yeah why would they care. And me discovering it only in reddit comment section is a proof that this channel won't be a threat
Whhaatt????candlestick pattern???i love that one actually...man..i havent even finished the video..paused it and jumped to comment section..ahaha..im sad..but i think u got a point..hope i can learn some more..keep the exellent work brother...
No support and resistance! This is actually kind of crazy because the first thing I usually do is plot my s&r on a chart as soon as I see it. It usually makes me seek out reversal trades so you could be on to something. I'm going to backtest and see how I do. Do you think it's possible to trade without anything on the chart at all?
Whenever i tried to reach the core video to start with, i came across more links..Can u plz make a playlist of the videos so that we can understand where to start???
"Well what should I do instead then?" You watch the rest of my channel, it has the answers, that's why I created it. You can start here ua-cam.com/video/YWNloLjXqeI/v-deo.html
Hi, VP. You said we should never use these 12 tools. But I still use the Japanese candles on my chart and am waiting for your video to explain more. Is it coming?
No honorable mentions to fill out the 15 or 16 you mention at the beginning? I'm running through your beginner playlist and I'm really enjoying it!
@@fangzhu5333 Actually he says not to use candlestick patterns. Not the same as using it for OHLC
@@TheSecnav he's talking about candlesticks and patterns as two different ideas, so in fact he bashes both of them.
hi vp sorry for bothering you, im just started watching your video and still learning how to trade. but im always busy with my work so I dont have much time to open a chart in computer. I only trade in my smartphone. so in your opinion is that okay ? I mean, is there a great combination just using the indicator in mt4 ? if the answer is yes I probably gonna test out all the indicator just like you did. hope you will see this and reply. by the way im sorry, my english is not very good.
I started using weather news to trade after watching this..
A very under-the-radar strategy.
@@NoNonsenseForex 😂😂😂
:) :) :) lol
lol some people are using solar activity so you can as well try the weather if it rains we go down sun shines we go up you live in africa other way around lol
Do currencies have a star sign😂😂
12. ADX
11. Trend Lines
10. Stochastics
9. Price Levels
8. CCI Indicators
7. Support/Resistance Lines
6. Japanese Candlestick
5. Chart Patterns
4. Bollinger Bands
3. Fibonacci
2. RSI
1. Moving Average Crossovers
can't wait to see your upcoming videos explaining about these indicators 😊
udah nemu nmr 2, 4 dan 5? :)
@@denbeibaron7797 no 5 > Volume
As long as youve back tested and forward tested an indicator and it works for you, cancel out the noise people say about it. One indicator may not work for you but could work for another person.
When you said "Fibonacci," I nearly jumped out of my chair with glee. I'm dead serious.
I haven't been trading for long. I started on stocks and had planned to stay there, but some very disruptive life events forced me to put that line of study down. I turned to Forex for a more flexible schedule - and while my money management is already solid (I recognized the ultimate importance of this immediately), I'm still basically just a break-even trader.
Then I found Fibonacci. I played with it for days trying to figure out how this could possibly work, or if there was really any logical or mathematical basis for its use I concluded that it has to be madness - it feels to me like pseudoscience or "reading the tea leaves." Here, throw some lines over here that have nothing to do with the data we actually have access to and pretend like they actually mean something. Wait what? No!
Anyway, THANK YOU. :) I hope your series changes my Forex trading for the better - but at very least I feel a bit more sane now :)
Been trying to get into forex for a while and my brother showed me this channel, not even watched a fraction of your content and I feel as though i’ve learnt tons more from you than any other channel out there, much respect to you for sharing your knowledge for free and can’t wait to learn more from you 👊🏼🏴
Im in complete shock, I've been studying forex trading for a couple of months and this goes against what everyone tells me, this is mindblowing, thank you again brother!!!
Of course, you should never use Support and Resistance lines to catch the "big reversal" and what not, but one thing that will surely make your algorithm even stronger is by using it to avoid trades! If the price is sitting at the level do not place as banks are getting involved here to mess up your trade!
All indicators are based upon mathematics and math has not changed. They take and modify moving averages by a formula, an algorithm...
Many "newer" indicators are simply variants on the old indicators VP decries...
Is there really a "new" indicator that modifies moving averages differently than the "classic" indicators? I see newer indicators that display signals differently and modify things in different ways, but at the core, I doubt any of them are really that different than the indicators he decries. You can trace a "new" indicator to an origin from Stochastics, RSI, Moving Averages, MACD, CCI, ADX, Bollinger Bands etc or even a more complex combination.
The problem with indicators is that market conditions vary from day to day, more trending or more ranging, and indicators cannot adjust to these conditions... Moving averages work better in trending markets, oscillators better in ranging. Mind you I use indicators, and am not that down on them. (Recommend TCCI for MT4.)
"Trading reversals" is simply trying to catch the beginning of a new trend, but this isn't so easy because of Persistance of Trend. Being a trend trader means you wait until the trend is more solidly established.
I find it interesting that VP says he has a "Holy Grail" system of indicators that are profitable.
When I stopped using indicators and primarily focused on price action my trading vastly improved. Salute!
What do you mean by price action? Do you mean like candlestick patterns (which also happen to be numbers 5 and 6 in this video)?
(I'm french...sorry if it's not that clear)
Always thought that if you have THE best strategy, you shouldn't need to sell it if you doing so well. And if you have a real passion about something and have a great heart, you just want to tell everyone for free. I feel like I'm always in front of peoples trying to sell me something with fancy speechs without seeing the results. It's like having a car seller who's telling you that you need to buy it to see the performance. Thank you so much VP spreading this out.
When God out of his good will provides a Priceless Mentor with a good heart for you, a Person who dose not demand a penny from you, my dear, first off all appreciate God for such a gift, then value the gift, VP you are one of a kind.............thankssssssssssssss
"THERE IS NO SUCH THING AS SUPPORT AND RESISTANCE!!" Boomshakalaka! VP you just changed my life!!!!!!
I was so glad to hear that from VP and the same goes for trend lines as well :D
@@aayushprinja1070 Yes man, so many years chasing a ghost that doesn't even exist!
The video was great, Now can you do a video called " THE FANTASTIC DOZEN " I would really appreciate that !!☺️
That's what's being sold here
Don't hold your breath, he's not going to present it on a silver platter. That kind of upset me at first, but after searching for indicators myself, I can understand it. When you've spent countless man-hours to find a consistent way of making money, you're not giving it away no matter what, unless it's for someone you really love.
Besides, people who haven't figured out a system by themselves will probably fuck it up anyways. I'm sure the critics would come in saying his system is bullshit and doesn't work, and it would just be a gigantic shit show.
If he doesn’t this video is all bs
Lemar03D
No free shit here
@@amaze2n You wouldnt want to anyways. Goodhart's Law will ruin you hard earned work.
WOW, Blown away.... Been trading in the forex market for a year now and have become profitable in the last few months but this video just destroyed all my strategies...... You have my absolute full attention now!!! I am going to watch your every video, listen to your pod casts and learn the right way to trade forex. Thank you very much for taking the time to share this priceless knowledge....
I subscribed and pushed that bell. lol
VP out here changing people lives, still amazed on how this content is free
Why would you want this good guy charge for the content?
I don't get your point!
@@mohamedm9391 Please point me to where I said I wanted VP to charge us for this, I'll wait
In summery:
These are consider too old and outdated Indicaters, and are also too Popular:
12) ADX Indicator
11) Trend Lines
10) Stochastics
9) Price Levels
8) CCI Indicator
7) Support and Resistance Lines
6) Japanese Candle Sticks
5) Chart Patterns
4) Bollinger Bands
3) Fibonacci
2) RSI
1) Moving Average CrossOvers
people need to realise certain things are set up on forex to make you think and feel a certain way to suck you in, be it chart patterns, even candlesticks like mentioned. for example, if you ever see a head and shoulders pattern it often goes the opposite direction to expected, thats because banks KNOW everyone watches for it so counters this, instead angled head and shoulders patterns are used for the banks which are not noticed by retail traders ..
My friend you also do like the big banks using the black jack theory you give us some information just to keep our interest but in the end you don't give a real or information for improving our trading.
thumbs up for that
Hey maybe five years from now you will understand this video.
That's not true. He's providing a structure and guidelines, he's just not giving his entire system. Why should he?
He said that you need to have your own system that will work for you. As a trader we must also be hardworking and do research of our own. How can we learn to do this if we would always rely to others? Wouldn’t be great if we are making profits on our own because it’s the fruit of the patience and hard work? Just saying.
Hey man I totally agree with you. It's like dangling a string basically don't use anything that's out there today but at the same time I WONT tell you what works or even hint what works. Useless as far as I'm concerned.
Stanimir Stoyanov That’s bullshit lmao. you’re waiting for one whole video to give info . watch every single video and you’ll know what to do
The Fib tool on MT4 used properly is a precision instrument. Once I was able to configure it properly (it took 7 years to figure this out) I was able to use it to trade extremely profitably and enjoy a wonderful trading career. I do not doubt you are a gifted mentor and appreciate your teachings here. Bear in mind that none of us know everything there is to know about the way the forex market moves. Me especially. However, when it comes to the Fib tool you couldnt be more incorrect. I say all of this with the utmost respect for you. I wish you and your followers the very best in trading. It can be an extremely satisfying endeavor.
One love
So you took 7 years of losses on something ineffective until it became effective? That sounds pretty crazy. Did you make up your losses? Why didn't you try something else? Clearly there's another way.
This channel is for freedom.
Peace of mind when trading
For the people asking for his indicators......me personally, I wouldn’t give them out for free if they are reliable and working. Doing that would put it on the same path as the rest of the indicators, and inevitably making it outdated.
Making it popular and the banks love it
I TOTALLY AGREE, Big Banks video has changed my life after listening again and again. It clicked all together so you can take control of your life back. Real Shit VP! Thank the Heavens for you. Salute to the Trend Traders! LET'S GOOOOOOOOOOOOOOOO. Don't be the 99%.
im trying so hard not to be pissed because i am ACTUALLY successful with some of these tools. But keeping an open mind regardless, i may learn something
Almost everybody does before watching this video. I think once you start testing out some of the other tools we talk about, you'll see what I mean.
I love his videos and actually respect his content. But sometimes I just can't seem but to feel that VP thinks he's the only profitable trader out there. VAST majority of the 1% (profitable traders), use at least 4/12 of the things he mentioned here. Support/resistance, trend lines, etc. They are all valid technical tools. I'm just saying, I love you VP, but don't take everything he says blindly just because he says it. Diversify your knowledge and mix and match to see what works best for you. Much love everyone!
Well yeah, that's all people thought existed for a very long time, and some people did make actual careers out of it. But the odds of doing this were crazy long. We put the odds in our favor here.
@@NoNonsenseForex Fair. Again why I love you and respect you man. You tried different things, and a lot of them. You spent countless hours to create your fully custom system, and now you are teaching it. All the best!
So happy I found you BEFORE I developed bad habits with these tools. Gonna put me ahead of the game 😎😎😎😎
I have watched your big banks video and it changed the game for me. I always thought someone was pushing it against me and it was good to know I wasn't wrong.
Wow! 4 years of hard work testing, backtesting, and forward testing… all ripped off in over 20 mins. Starting all over again.
Hey VP. I just wanted to say thank you man. I only started trading since last month and coming across your content has really opened my mind🔥. I can't express how grateful I am for your insight and the fact that you're making it available for free bro. Thank you man. I'mma study your teachings to the detail!!. Sending you love and respect from Namibia VP. Thanks again G🔥🔥🔥💪
Its great to be a beginner, i never used any tools so now i can start with the right ones😉
Have I just wasted a year of learning? I don't know whether to be happy or depressed!
Haha, learn and relearn, Megan! I traded in 2009, lost a whole lot of money but didn't give up. Last year, I started again, removed my bad habits and took on new strategies. Now things look good on demo. Looking forward to going live.
LOL, I can't believe how heavily dependent I was with ADX and Moving Average crossovers. I actually hated ATR, didn't see the benefit of using Stop Loss Orders, and found volume indicators to be worthless. So I never used them. All my positions were left open over night without Stop Loss Orders, lol. Why? Because I was never thought the right way to use it. I was getting random answers from different sources on where to place Stop Loss Orders. I'm like, "I'm better without it." Yikes... I would have been in danger in the long run. After learning from you, I implement ATR, Stop Loss Orders and volume indicators in my system. Thank you VP. I'm grateful that I found you and your channel.
Like damn, all these indicators has caused more harm than good to my trading. I stopped trading for a while trying to figure out where I went wrong and found your channel and all of these indicators has now made sense why my trading keeps on losing. Thanks Mate and Im still waiting for your video about how to trade like a bank and right entry and exit reason for every trade. Have a great day!
17:18 IS SO TRUE one time i went into a buy stop because i though it was gonna go up so i did a buy stop just to be safe in case it didnt and the chart literally triggered the buy stop then spiked and hit my stop loss for a split second then shot straight up ive never been so offended by a trade in my life
And I've found my new favourite person, these videos are going to get watched intensively
I use trendlines,50 MA and Patterns and they work 90% of the time and I am making money everyday no stress, so no it's not that these things don't work but how you use them, it took me 3 years to develop how i use this tools as my strategy,and i really don't think I can be able to teach anyone else how i use them coz I'm the one who can understand nd do it better as the combination was my own creation
Combos are the way to go, nice job. Consider searching out other tools, and seeing if they work better. There are thousands. Why wouldn't you?
I'll be damned..... trying to do a strategy using trend lines, 50 MA and patterns I kid you not. Still developing it though
I use stochastics as a volume indicator to find GENERAL entry and exit points. No indicator is good by itself, its like saying you can build a house with just a hammer.
When looking for indicators right now, I see RSI I leave the website and so far its weeded out a good amount of stuff I didnt even have to read lol... Thanks for making the Hay Stack smaller and the needle bigger!
I got a good laugh at the beginning of this video when you mentioned pissing off every forex trader ever, but was kind of mad when I got halfway through this video, and was officially triggered when u said Fibonacci. But, nevertheless, I am in this so-called 99% and will therefore continue to hear you out and check out the rest of this channel
That's all I can ask. Hope you enjoy.
You should bro... good for you.
I've been all over he Internet and you are right..... So many bullshitters out there. You on the other hand straight, direct and to the point and no bullshit...... And the fact that you do this for free just adds to your credibility and says much about you as a person.... All of it good. Many many thanks, excellent work. 👍👌
Cool, I have no bad habits to break in terms of indicators, since I’m just beginning my Forex learning. Sure appreciate your candor and direct approach. That serves me well.
my strategy after this video: still use the dirty dozen but just do the opposite of what they signal you to do
SNART HAHAHAHA
Ouch man. Ouch... It hurts so bad because I spent the best part of the last decade messing around with all of these. And that's caused me lots of pain. VP, you are truly the king of no BS fx trading. Thx u
I am feeling I am in the right place and things will go right from here , thanks mate
If I’m one of the bigbanks, i will always think for a new changes, this video is great.
I found an indicators combination.. It's already working fine for now... All credit to you VP 🌼☯️
congrats omkar :) keep it going. long way to go
In my 8 months of studying forex I have to really say I am seeing much of this is so true..
Under what platform are you studying from? Please help someone out here.
Just a thought here...Since we're all looking at our charts a bit differently now, I noticed that I am not really concerned about candlesticks much at all...in fact, I've been focused solely on the indicators and their subsequent signals. That being said; I changed the color of the candles to white on white for both bull and bear out of curiosity because, like many of you, I was taught to be mindful of body and wick size and proportion, formations and patterns which guided my decisions. The first thing I noticed was that I no longer felt any emotion with regard to what the candles were doing, only what the indicators were telling me. It helped prevent the urge to close out something prematurely and to let the system do its thing. Novel idea, right? Anyways, it might prove to be a good backtesting variable and allow us to drill down on what makes the algorithm work best without outside influence. Why white? Well, visually, they permitted the indicators to become the focus of the chart...but I supposed "seashell", "ivory" or "pale golden rod" works as well...
That's why I mainly use bars.
Most custom indicators are built around old, tried and trusted indicators i.e. moving averages and RSI. Personally, I like a combination of the Hull MA, 2 tight MA cross and ATR being my all time favourites. For example:
1 - 20 SMA, Shift 2 (Red)
2 - 20 Weighted MA, Shift -2 (Green)
3 - 26 Hull MA
4 - ATR period 7
5 - ADX and/or RSI provides entry confirmation.
6 - PSAR Step = 0.009 (currently testing for trailing stop)
(The MA's may require small adjustments for each instrument)
I do not trade when the market is range bound
I only trade when at least two bars have closed and the two MA show a clear separation.
My first TP is 1x ATR, the second T P will follow the trend
SL = 2X ATR. Once first TP is hit, move the SL to BE
Works well on H1 and daily TFs
I have been searching for over four years to find the best strategy that works for me and this it. I welcome your comments.
thanks for sharing
Thanks. Interesting. Will try out. I use Hull also. Like ma hull of highs and alows.@@zorrogrism
I recently discovered Hull MA's myself, and they're awesome! 24 and 48 period, are worth looking at. Cross-overs don't mean much with Hull MAs, just the upward/downward direction and angle (rate of change).
One tip I'd offer for all your settings there is they should be an even multiple or fraction of the next higher timeframe. For instance, a 7 period ATR will include the last 7 bars on your chart. Depending on your broker's server time, you either have 5 or 6 candles per week. Let's assume you have 6 candles per week... If you're looking at 7 bars on a Monday, it will include 2 (small) Sunday bars. But on a Thursday, it will only include 1 Sunday. So you're introducing some unnecessary chop into the ATR line. On the other hand, if you're looking for volatility spikes using the ATR on the H1, you should go with something far less than 24 (perhaps 4, 6, or 8) or you'll end up capturing a whole day's cycle and have a lot of useless lag.
For your MA's, particularly the Simple MA on the D1 timeframe, try 18 or 24 (4 weeks x 6 bars/week). With a simple MA, that bar dropping off 20 days ago is weighted the same as the one you're adding today, so you want those bars to occur on the same part of the weekly cycle.
Side note: Hunt down ATR and ADX versions that are true to Welles' Wilder's calculations. MUUUCH more accurate.
you talk about the forex market as in a market completely controlled and run by the big banks, not many people on youtube do .. keep it up good content
I can't believe this is not a paid course, my 5th NNSF video watched today, GREAT MENTOR@
I have to partially disagree with VP on the ADX... The problem with the built-in MetaTrader 4 ADX indicator is that MetaTrader butchers the calculation of ATR, which is a component of +DI and -DI. In turn, the flawed DI calculations screw up the ADX line. Specifically, all three of the lines are smoothed incorrectly.
ATR, +/- DI, ADX were all created by Welles J Wilder and are detailed in his book, "New Concepts in Technical Trading Systems." You can easily find a free PDF online. We all basically know what the ATR is, or at least what it should be... The +/-DI are measuring the degree of higher highs and lower lows, relative to ATR. So the DI's are actually a pretty good/early indication of a trend formation or reversal, as well as its strength. The ADX line is a composite of the 2 DI lines and measures the overall trend strength. Basically, ADX above 20 to 25 is a good trend. Below 20 is ranging.
Metatrader 5 has two separate built-in ADX indicators... The Metatrader 4 version, and a Wilder version. I still use MT4, so I took the Wilder version file and converted it to MT4's language. I also tinkered with it to make it ignore the small Sunday candles because they erroneously flatten all the lines (ATR, DI, ADX). I use 10 periods (two full weeks of trade data, excluding Sundays). I consider an instrument to be trending if the ADX is above 20 and increasing, the direction will be obvious but the DI's will confirm it. I use stop orders for entry, to further confirm the trend is continuing in a favorable direction. I tighten my stop when the ADX begins to decline. I use it along with a home-brewed momentum indicator and a derivative of RSI called QQE ADV. When all three agree, it's off to the races.
Garren Sizer Is it possible to have a copy of the Wilder version for MT4? or instructions on how to convert it from the MT5 version to the MT4? please advise. Really appreciate it. Thank you.
i'm quite new to the Forex world but as a stocks trader, i rarely use most of these tools (except Bollinger bands for the same purpose that he mentioned) and agree with most of what have been presented (both in this particular video and in the entire series so far). i actually like to know where this series is headed!!
Well, I can`t agree or disagree completely to these assumptions. I will not say an indicator in itself is either good or bad because there a lots of factors at play here. Market conditions, trading style, personality, indicator mix, time frames etc. Some of these indicators can be used in a more better way than we use them presently (e.g the ATR indicator which is your favorite). That`s where doing our research & homework comes into play. What may work for one might be counter-productive to another. From me own tiny experience Fibonacci has been a good tool. It wasn`t at 1st because of the way I used it but over time i learnt better ways to apply it. I`m still learning notwithstanding. In view of this, i won`t agree or disagree, yet. I will only take my time to explore & experiment your assumptions. What ever works to my expectations I will embrace. But what ever does not work I will trash into to bin. Thanks for the video. Thumbs up
Literally don't have words. I literaly recently use 6 of these and I'm fairly new to forex have been in here for 3 months now and the vast and almost painful majority of videos I have watched contained them. And they worked sometimes and didn't work other times for other reasons. I never thought I'd actually be skeptical of this as I know what he is saying is absolutely correct. But it is painful to watch basically 90% or even more of my knowldge in the forx world get washed down the drain by one video.
I got here JUST before I'm jumping into actual trading. So so thankful
Sounds like you need more knowledge
after watching this I feel like I've wasted the last year of my life.. -____- kinda pissed about it .. I've ben been binging all your podcasts now im on the vids so far Im glad i found your channel.
I simply do the opposite of the majority. once a trend line breaks. I go the opposite way of the break
Has it worked for you?
@@joseluismoreyrajr.7598 probably not if he's on here watching this hahaha.
@@eyeservantez 😂😂
Actually it is good to use those technicals and indicators, because you will know how banks will trie to screw you up.
I have only been trading currency for about a year, and where i accept there are going to be losses among the wins.. there have been losing times when, these losses have come along and i have absolutely been dumbfounded, along this trading journey i have picked up on the well used indicators which everybody has, then consequently found myself chasing the indicators, rather than concentrating on price action, looking back over my records, since i first started i was far more successful, by simply by not knowing what these indicators did. back in those days i was simply using an engulfing pattern, and sma cross over indicators, ( i know they are on this list) but the difference for me was simple i never got greedy, i simply had a compounded daily target i tried to make and stuck to it
The ATR allows us to target what the market has been offering.
The man is truly No-Nonsense...lol Thanks for the perspective VP.... Im a bit skeptical about your remarks about support and resistance though, but I get you on all the others 100% . I dont do cross-overs but I do use Moving averages alot differently.
I disagree on Chart Patterns, Trendlines and support and resistance. These are part of price action trading and it work perfectly for me. I don't care for the rest.
I'm telling you bro, try using his TMS.
All you need you make money is 15 to 30 mins a day.
You can never get that from price action.
@@Zeus11195 what is his TMS? Where do I find more information on that? Thanks
@@justinB482 If you search his channel for no more than about 5 minutes, you will be able to answer that yourself.
Michael Ukken what video is his tms in
@@tjdunham9016 its this whole channel
Out of sheer curiosity, I tested a couple of these on the list with a backtesting set up and from my personal experience, Bollinger Bands have been very successful but not in the way where you trade the “Over Bought” and “Over Sold” because those hardly seem to work most times. If it’s used as a trend indicator, it actually works very well and according to the backtesting results based upon my trading style, it’s consistently profitable with a few bumps here and there. Otherwise I agree with a lot of your videos and the content you share. I believe most indicators can be used unconventionally to be profitable, although some are just straight up bad. I think it’s the approach to these indicators that matter and how the data is utilized to gauge if an asset is worth buying or not
He might be a good trader but this video practically said to not trade at all. I trade s/r, trendlines, candlesticks, patterns, but no indicators you choose in an indicators section in any chart. What he didn't mention was that you need higher time frames to use these tools correctly. You may see hammers everywhere but I guarantee you are looking at what it is and not where it is. It's more important where the placement is than the thing itself
I trade without
Chart patterns, price action, s&r, or any of those indicators etc...and I'm doing good
This was absolutely hilarious to watch, I thought I was so slick using fib and S&R and candlestick shapes and patterns. Then you're just shooting them down one by one hahhahahah. My reaction to every single one was OHHHH NOOOOO, But still loved the video and i'm going to take your advice onboard! I'll let you know if I go pro!
So please tell us exactly how you trade. Purely price action? Nice vid 👍
You have a very interesting approach to trading. I have to admit, I'm guilty of using a few of the tools mentioned but weirdly interested in what you have to say and adapt my own approach. Very nice videos so far.
do you have a myfxbook or other verified track record we can see?
@TradeMarket Like a Pro can you post the link so we can take a look? Thx.
Just found you on UA-cam VP. Thankyou for sharing your knowledge. Looking forward to getting through 6 years of videos and podcasts! This video has introduced an idea to me that I was unaware of. It has cemented my understanding of it and will forever be an essential part of my trading plan. Bravo Sir.
Enjoy the ride
Basically every indicators sucks and even using structure and fib is useless. This video should have been Titled "Just Don't trade"
So we dont trade and you get rich in youtube
@@shaolingral If you don't like VP's trading way just go somewhere else. I just can tell you this, It is working for me and a lot of followers that have had the patience to put his system together. keep doing what you do if it works for you and don't discredit something that you don't even know. Thank you
LMAO. My fave quote from you so far in your price action blog post (doing a binge on your blogs from start to finish):
"The internet allowed people like you to finally have a voice, and this is the only reason I hate the internet.
Back in the day, you would have been put in a cage and wheeled around from carnival to carnival so people could laugh and poke you with sticks."
OMG. I could not stop laughing. I love your no nonsense, matter of fact way of writing.
watching your videos after getting my account liquidated, probably I'll a video on how to turn 5k to 36 $ in one week.
Refreshing my memory on this because theres just so many versions of these indicators disguised as something else.
This dude just destroyed everything i just had in my archive
lol same here pooped every bubble one by one. So what else is left>
@@michaelmoody5261 follow the channel like he said,i am also, there is light at the end of it, and u will be glad u did.
Really learning stuff as I progress through the videos. Binged watching every video in this channel knowing these things are gems!
Same XD
Have to disagree with on this video, you seem to think you have all the knowlege when coming to trading, no my friend most of them are still worth using.
FOUND it. Fucking re-listening to videos for the 2nd and 3rd time to find the MA mention. Some form of MA(SMA, VMA, Hull, etc...) is almost unavoidable to me at this point.
This year I went from wiping my brain clean of 99% of indicators, altogether, right back to back-testing them for hours and hours to find my best confirmation and exit....... The goal here is to turn my exhausting early-ass-morning trading routine (London into NY) into the more sane and sustainable "shortly before daily candle close" routine. Thy path is before me......
I just wish your channel would STOP BECOMING MORE POPULAR DAILY
Aaaaand good night internet.
Well, reason that some techniques does not work for one trader and not MATCH his TRADING style, does not mean they are bad. But that list tell us alot about the trader....
Since he is a trader that primarily uses indicators for his trading they very much match his trading style. Unfortunatly not all indicators are born equal and anyone who tests their indicators would know that.
Well you were definitely successful! There are a lot of unhappy comments on this video :) If only they would watch the rest of your videos they might be able to wrap their heads around what you say and why you say.
what is left to use?
ATR
brain
Eyeballing! :-P
@@Swishasweet2811 LOL
I wonder too XD
To bad that i find ur tutorials after such a long time(painful experience in Forex :) )....i think ur message is: " find the most confortable indicator, "undress it", build an strategy with the "undress" version in that indicator( ore those)...and have patiens with that strategy(is the healty one)...eaven if we have to wait for years...This is Forex....My recomandation.....Best tutorials(advices) on the web....don t waste ur time with "succesful traders"!!!
There are only few (2 or 3) indicators on the market(we have them for free actually, in mt4 ;) )hwo are desperatly tryn to tell us sommthin, they don t have a common language(when to buy or when to sell -when to go out) they will never!!!!....Take a bit frome 1(indicator), a bit for 2th and a bit for 3th, and build a language.....the MARKET LANGUAGE!!! Entire my re5pect for what ur doin'....I just wait for ur new video!!! RE5PECT!!!
I seen couple your video they have a good contents and completely different from other channels but a bit confused who to believe or who is right.Can you make one video with live trading to see how’s your theories work or your strategies
Do your backtesting and you will know who to trust. It’s basics.
I've always thought Fibonacci was too gimmicky. So I gladly threw this one in the crusher.
u could use it successfully, but u have to have a consistent way of filtering the price interaction with the lvls - same goes for support, resitance and trendlines
@@zundance. How's the account going? 😂
bro to say fibonacci doesn't work is crazy, the whole universe moves in the sequence, Ive consistently hit 500+ pips per week with fibonacci alone just trading of 61.8 and 88.6 retracements, I Agree with the. rest except for channels on higher timeframes, they clearly exist and are easy to trade..perfect example gbpnzd this year
whats ur telegram
Agree with you
Absolutely brilliant, I spent about 6 hours yesterday listening to videos (And making notes) on the Elliott wave theory, and had pretty much come to the same conclusion about the fibo numbers! Seems to have a fit for everything, hence anything! Utterly useless.
Great way of putting it.
I don't understand what you mean by not using trend lines when we are trend traders. I get to take down the trend lines or not draw them, but aren't we still looking for what we were going to draw anyway as a trend trader? A little confused. Oh and can you drop me the link to the less common used indis as I couldn't find the link after watching your Indicators video. By the way ALL the videos I've watched are great and very informative. Just a little unsure on some points.
Thank you
Alex
Best forex channel I have seen. Yesterday I did see the first vid all make sense and I encounter the same problems with indicators.
trend lines
once you discover its over....
so trueee.
Exactly. By the time you identify ITS already DONE!!😭
Well there goes all my lines and indicators . Back to square one 😁.
Am waiting for your instructions sir . Love your videos 😻
So after listing all the major signals as irrelevant, where do we go from here....
I use a Stochastic/RSI combination and it works for me. The only difference for me is I have removed the 20/80 levels and simply have a 50 level. Above 50, go long and below 50 go short but this must also align with the Stochastic before placing an order. I also have an HMA indi serving as my baseline for continuations purposes. I use this setup, solely on the daily charts
can you please expain to me , please lost lot of money on it
I don’t agree I use rsi, support and resistance, moving avg. crosses, a little fibs just on pullbacks if I’m scalping, but I also use a site to tell me where majority of the investments sit and I trade the minority. I think at least 7 of the things he mentioned in the video can be usefully if you have a good strategy and discipline
A good reason to put them on the chart is to see what the majority are doing and what to avoid.
dude but what happens when the big banks see this video
nothing, they continue to manipulate the forex market because this channel will only change maximum 1% of Forex traders in a span of years and its a very small impact for the big banks.
Judging that not all believe him. Yeah why would they care. And me discovering it only in reddit comment section is a proof that this channel won't be a threat
Whhaatt????candlestick pattern???i love that one actually...man..i havent even finished the video..paused it and jumped to comment section..ahaha..im sad..but i think u got a point..hope i can learn some more..keep the exellent work brother...
Great video! Yes, on all 12. You ain't sneaky with these "indicators".
No support and resistance! This is actually kind of crazy because the first thing I usually do is plot my s&r on a chart as soon as I see it. It usually makes me seek out reversal trades so you could be on to something. I'm going to backtest and see how I do. Do you think it's possible to trade without anything on the chart at all?
Whenever i tried to reach the core video to start with, i came across more links..Can u plz make a playlist of the videos so that we can understand where to start???
I use all of them. Thank God, im a contrarian trader.
Okay I respect your idea VP but tell us please about “ the good dozen “
Go to my Beginners video (link in description), or www.nononsenseforex.com. It has everything you'll need.