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Algorithmic Trading

A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Why RSI Indicator Dont WORK in Forex

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Some trading wisdom, tools and information I picked up along the way that helped me be a better trader. Maybe it can help you too.

Its a bit lengthy and I tried to condense it as much as I can. So take everything at a high level as each subject is has a lot more depth but fundamentally if you distill it down its just taking simple things and applying your experience using them to add nuance and better deploy them.
There are exceptions to everything that you will learn with experience or have already learned. If you know something extra or something to add to it to implement it better or more accurately. Then great! However, my intention of this post is just a high level overview. Trading can be far too nuanced to go into in this post and would take forever to type up every exception (not to mention the traders individual personality). If you take the general information as a starting point, hopefully you will learn the edge cases long the way and learn how to use the more effectively if you end up using them. I apologize in advice for any errors or typos.
Introduction After reflecting on my fun (cough) trading journey that was more akin to rolling around on broken glass and wondering if brown glass will help me predict market direction better than green glass. Buying a $100 indicator at 2 am when I was acting a fool, looking at it and going at and going "This is a piece of lagging crap, I miss out on a large part of the fundamental move and never using it for even one trade". All while struggling with massive over trading and bad habits because I would get bored watching a single well placed trade on fold for the day. Also, I wanted to get rich quick.
On top all of that I had a terminal Stage 4 case of FOMO on every time the price would move up and then down then back up. Just think about all those extra pips I could have trading both directions as it moves across the chart! I can just sell right when it goes down, then buy right before it goes up again. Its so easy right? Well, turns out it was not as easy as I thought and I lost a fair chunk of change and hit my head against the wall a lot until it clicked. Which is how I came up with a mixed bag of things that I now call "Trade the Trade" which helped support how I wanted to trade so I can still trade intra day price action like a rabid money without throwing away all my bananas.
Why Make This Post? - Core Topic of Discussion I wish to share a concept I came up with that helped me become a reliable trader. Support the weakness of how I like to trade. Also, explaining what I do helps reinforce my understanding of the information I share as I have to put words to it and not just use internalized processes. I came up with a method that helped me get my head straight when trading intra day.
I call it "Trade the Trade" as I am making mini trades inside of a trade setup I make from analysis on a higher timeframe that would take multiple days to unfold or longer. I will share information, principles, techniques I used and learned from others I talked to on the internet (mixed bag of folks from armatures to professionals, and random internet people) that helped me form a trading style that worked for me. Even people who are not good at trading can say something that might make it click in your head so I would absorbed all the information I could get.I will share the details of how I approach the methodology and the tools in my trading belt that I picked up by filtering through many tools, indicators strategies and witchcraft. Hopefully you read something that ends up helping you be a better trader. I learned a lot from people who make community posts so I wanted to give back now that I got my ducks in a row.
General Trading Advice If your struggling finding your own trading style, fixing weakness's in it, getting started, being reliably profitable or have no framework to build yourself higher with, hopefully you can use the below advice to help provide some direction or clarity to moving forward to be a better trader.
  1. KEEP IT SIMPLE. Do not throw a million things on your chart from the get go or over analyzing what the market is doing while trying to learn the basics. Tons of stuff on your chart can actually slow your learning by distracting your focus on all your bells and whistles and not the price action.
  2. PRICE ACTION. Learn how to read price action. Not just the common formations, but larger groups of bars that form the market structure. Those formations carry more weight the higher the time frame they form on. If struggle to understand what is going on or what your looking at, move to a higher time frame.
  3. INDICATORS. If you do use them you should try to understand how every indicator you use calculates its values. Many indicators are lagging indicators, understanding how it calculates the values can help you learn how to identify the market structure before the indicator would trigger a signal . This will help you understand why the signal is a lagged signal. If you understand that you can easily learn to look at the price action right before the signal and learn to watch for that price action on top of it almost trigging a signal so you can get in at a better position and assume less downside risk. I recommend using no more than 1-2 indicators for simplicity, but your free to use as many as you think you think you need or works for your strategy/trading style.
  4. PSYCOLOGY. First, FOMO is real, don't feed the beast. When you trade you should always have an entry and exit. If you miss your entry do not chase it, wait for a new entry. At its core trading is gambling and your looking for an edge against the house (the other market participants). With that in mind, treat as such. Do not risk more than you can afford to lose. If you are afraid to lose it will negatively effect your trade decisions. Finally, be honest with your self and bad trading happens. No one is going to play trade cop and keep you in line, that's your job.
  5. TRADE DECISION MARKING: Before you enter any trade you should have an entry and exit area. As you learn price action you will get better entries and better exits. Use a larger zone and stop loss at the start while learning. Then you can tighten it up as you gain experience. If you do not have a area you wish to exit, or you are entering because "the markets looking like its gonna go up". Do not enter the trade. Have a reason for everything you do, if you cannot logically explain why then you probably should not be doing it.
  6. ROBOTS/ALGOS: Loved by some, hated by many who lost it all to one, and surrounded by scams on the internet. If you make your own, find a legit one that works and paid for it or lost it all on a crappy one, more power to ya. I do not use robots because I do not like having a robot in control of my money. There is too many edge cases for me to be ok with it.However, the best piece of advice about algos was that the guy had a algo/robot for each market condition (trending/ranging) and would make personalized versions of each for currency pairs as each one has its own personality and can make the same type of movement along side another currency pair but the price action can look way different or the move can be lagged or leading. So whenever he does his own analysis and he sees a trend, he turns the trend trading robot on. If the trend stops, and it starts to range he turns the range trading robot on. He uses robots to trade the market types that he is bad at trading. For example, I suck at trend trading because I just suck at sitting on my hands and letting my trade do its thing.

Trade the Trade - The Methodology

Base Principles These are the base principles I use behind "Trade the Trade". Its called that because you are technically trading inside your larger high time frame trade as it hopefully goes as you have analyzed with the trade setup. It allows you to scratch that intraday trading itch, while not being blind to the bigger market at play. It can help make sense of why the price respects, rejects or flat out ignores support/resistance/pivots.
  1. Trade Setup: Find a trade setup using high level time frames (daily, 4hr, or 1hr time frames). The trade setup will be used as a base for starting to figure out a bias for the markets direction for that day.
  2. Indicator Data: Check any indicators you use (I use Stochastic RSI and Relative Vigor Index) for any useful information on higher timeframes.
  3. Support Resistance: See if any support/resistance/pivot points are in currently being tested/resisted by the price. Also check for any that are within reach so they might become in play through out the day throughout the day (which can influence your bias at least until the price reaches it if it was already moving that direction from previous days/weeks price action).
  4. Currency Strength/Weakness: I use the TradeVision currency strength/weakness dashboard to see if the strength/weakness supports the narrative of my trade and as an early indicator when to keep a closer eye for signs of the price reversing.Without the tool, the same concept can be someone accomplished with fundamentals and checking for higher level trends and checking cross currency pairs for trends as well to indicate strength/weakness, ranging (and where it is in that range) or try to get some general bias from a higher level chart that may help you out. However, it wont help you intra day unless your monitoring the currency's index or a bunch of charts related to the currency.
  5. Watch For Trading Opportunities: Personally I make a mental short list and alerts on TradingView of currency pairs that are close to key levels and so I get a notification if it reaches there so I can check it out. I am not against trading both directions, I just try to trade my bias before the market tries to commit to a direction. Then if I get out of that trade I will scalp against the trend of the day and hold trades longer that are with it.Then when you see a opportunity assume the directional bias you made up earlier (unless the market solidly confirms with price action the direction while waiting for an entry) by trying to look for additional confirmation via indicators, price action on support/resistances etc on the low level time frame or higher level ones like hourly/4hr as the day goes on when the price reaches key areas or makes new market structures to get a good spot to enter a trade in the direction of your bias.Then enter your trade and use the market structures to determine how much of a stop you need. Once your in the trade just monitor it and watch the price action/indicators/tools you use to see if its at risk of going against you. If you really believe the market wont reach your TP and looks like its going to turn against you, then close the trade. Don't just hold on to it for principle and let it draw down on principle or the hope it does not hit your stop loss.
  6. Trade Duration Hold your trades as long or little as you want that fits your personality and trading style/trade analysis. Personally I do not hold trades past the end of the day (I do in some cases when a strong trend folds) and I do not hold trades over the weekends. My TP targets are always places I think it can reach within the day. Typically I try to be flat before I sleep and trade intra day price movements only. Just depends on the higher level outlook, I have to get in at really good prices for me to want to hold a trade and it has to be going strong. Then I will set a slightly aggressive stop on it before I leave. I do know several people that swing trade and hold trades for a long period of time. That is just not a trading style that works for me.
Enhance Your Success Rate Below is information I picked up over the years that helped me enhance my success rate with not only guessing intra day market bias (even if it has not broken into the trend for the day yet (aka pre London open when the end of Asia likes to act funny sometimes), but also with trading price action intra day.
People always say "When you enter a trade have an entry and exits. I am of the belief that most people do not have problem with the entry, its the exit. They either hold too long, or don't hold long enough. With the below tools, drawings, or instruments, hopefully you can increase your individual probability of a successful trade.
**P.S.*\* Your mileage will vary depending on your ability to correctly draw, implement and interpret the below items. They take time and practice to implement with a high degree of proficiency. If you have any questions about how to do that with anything listed, comment below and I will reply as I can. I don't want to answer the same question a million times in a pm.
Tools and Methods Used This is just a high level overview of what I use. Each one of the actions I could go way more in-depth on but I would be here for a week typing something up of I did that. So take the information as a base level understanding of how I use the method or tool. There is always nuance and edge cases that you learn from experience.
Conclusion
I use the above tools/indicators/resources/philosophy's to trade intra day price action that sometimes ends up as noise in the grand scheme of the markets movement.use that method until the price action for the day proves the bias assumption wrong. Also you can couple that with things like Stoch RSI + Relative Vigor Index to find divergences which can increase the probability of your targeted guesses.

Trade Example from Yesterday This is an example of a trade I took today and why I took it. I used the following core areas to make my trade decision.
It may seem like a lot of stuff to process on the fly while trying to figure out live price action but, for the fundamental bias for a pair should already baked in your mindset for any currency pair you trade. For the currency strength/weakness I stare at the dashboard 12-15 hours a day so I am always trying to keep a pulse on what's going or shifts so that's not really a factor when I want to enter as I would not look to enter if I felt the market was shifting against me. Then the higher timeframe analysis had already happened when I woke up, so it was a game of "Stare at the 5 min chart until the price does something interesting"
Trade Example: Today , I went long EUUSD long bias when I first looked at the chart after waking up around 9-10pm Eastern. Fortunately, the first large drop had already happened so I had a easy baseline price movement to work with. I then used tool for currency strength/weakness monitoring, Pivot Points, and bearish divergence detected using Stochastic RSI and Relative Vigor Index.
I first noticed Bearish Divergence on the 1hr time frame using the Stochastic RSI and got confirmation intra day on the 5 min time frame with the Relative Vigor Index. I ended up buying the second mini dip around midnight Eastern because it was already dancing along the pivot point that the price had been dancing along since the big drop below the pivot point and dipped below it and then shortly closed back above it. I put a stop loss below the first large dip. With a TP goal of the middle point pivot line
Then I waited for confirmation or invalidation of my trade. I ended up getting confirmation with Bearish Divergence from the second large dip so I tightened up my stop to below that smaller drip and waited for the London open. Not only was it not a lower low, I could see the divergence with the Relative Vigor Index.
It then ran into London and kept going with tons of momentum. Blew past my TP target so I let it run to see where the momentum stopped. Ended up TP'ing at the Pivot Point support/resistance above the middle pivot line.
Random Note: The Asian session has its own unique price action characteristics that happen regularly enough that you can easily trade them when they happen with high degrees of success. It takes time to learn them all and confidently trade them as its happening. If you trade Asia you should learn to recognize them as they can fake you out if you do not understand what's going on.

TL;DR At the end of the day there is no magic solution that just works. You have to find out what works for you and then what people say works for them. Test it out and see if it works for you or if you can adapt it to work for you. If it does not work or your just not interested then ignore it.
At the end of the day, you have to use your brain to make correct trading decisions. Blindly following indicators may work sometimes in certain market conditions, but trading with information you don't understand can burn you just as easily as help you. Its like playing with fire. So, get out there and grind it out. It will either click or it wont. Not everyone has the mindset or is capable of changing to be a successful trader. Trading is gambling, you do all this work to get a edge on the house. Trading without the edge or an edge you understand how to use will only leave your broker happy in the end.
submitted by marcusrider to Forex [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

Losing hope (venting)

I think forex trading has been a dream of mine for so many years, only in March this year did I really start to dig into it. I've spent months trying so many different strategies, youtube guides, googling guides, even No Nonsense Forex and his (contrarian I guess?) view on it all. So many times I thought I had found the one strategy I can just stick to, only to further test it on historical data and find that just because it performed well one year, didnt stop it from doing poorly every other. I've seen so many indicators, taken so many guesses at price action, and I just dont see any law to it. I just want something to work, even if its 50% win rate with 2:1 rewards, thats still a winner, but everything I see, I can point out so many more cases where it fails than where it succeeds.
In any case, this has been a lengthy self-pitying read, sorry. Im just losing hope that a consistent profitable strategy exists, but thanks for taking the time to read, just venting I guess.

It wont let me post this? is it due to a lack of analysis? GBP will surely rise! Or will it? Thatll do.
submitted by Corrupt96 to Forex [link] [comments]

Losing hope in Forex (venting)

I think forex trading has been a dream of mine for so many years, only in March this year did I really start to dig into it. I've spent months trying so many different strategies, youtube guides, googling guides, even No Nonsense Forex and his (contrarian I guess?) view on it all. So many times I thought I had found the one strategy I can just stick to, only to further test it on historical data and find that just because it performed well one year, didnt stop it from doing poorly every other. I've seen so many indicators, taken so many guesses at price action, and I just dont see any law to it. I just want something to work, even if its 50% win rate with 2:1 rewards, thats still a winner, but everything I see, I can point out so many more cases where it fails than where it succeeds.
In any case, this has been a lengthy self-pitying read, sorry. Im just losing hope that a consistent profitable strategy exists, but thanks for taking the time to read, just venting I guess.
submitted by Corrupt96 to Daytrading [link] [comments]

Most legit undervalued 100x

Jarvis Network (JRT), trading on Uniswap now Note: Coingecko says "Jarvis Reward Token". a europe team.
$400k mc, around $2m fully diluted mc, raised very little in 2018 (less than $500k).
A defi to help anyone become a brocker by funding and maintaining liquidity pools (a sort of Synthetix competitor with different features).
Build based on UMA, Compound protocols, and work with ChainLink oracle (might develop their own later)
works for forex, Indices, stocks and cryptocurrencies (some features are being developed now)
Jarvis applications provide users fiat-based applications with local currency.
Jarvis wallet and Jarvis exchange are already running (there is a reason why they developed their own exchange, its an passionate story behind it, read well)
Staking and their own DAO information coming next week.
This is a fucking geneuine hardworking team, so you dont need do pnd here, just buy and hold, at Synthetix mc, it is 200x, even half it is 100x.
Enjoy the best quality gem now ! (just found on 4chan, so cerdit to whoever wrote it)
submitted by Anukumadc to CryptoMoonShots [link] [comments]

Guide to Stock Market (Trading in General) Mentoring/Mentorship Programs in the philippines

Hi, may nakikita akong questions about investing/trading and some about trading mentors/gurus societies etc.
This is my opinion depende na sa inyo kung susundin nyo.
ZFT - Zeefreaks tribe,
First, i do respect "Zee" as a trader,his "tribe" teaches or mentors their students using their system to become their own. Generally, Darvas Box, MAs 20 50 100 and RSI are their weapons but mainly its the Price Action and RSI ang parang laman talaga ng System nila and you can only get better through time as with other systems in general. I think they are good, but yun na nga, just good.
Problem:
They charge you with a hefty sum na i don't think na ma jujustify nila, because at the end of the day more or less its you ( along with practice) and your psychology that can help you along the way. Okay, may Trading psych coach daw sila , si Ma'am Celeste (Zee's Gf) pero overtime you will learn about yourself in the process naman.
Zee is justifying the hefty fee because sabi nya before if im not mistaken na the clients are not paying the mentoring alone pero along with it yung "CULTURE" ng ZFT. I say, bullshit. Di nga nya alam na may mga ZFT "mentors" na that are mentoring other people without his knowledge and charging them less but still a very hefty fee. hehe Akala nya wala na pero meron pa, magaling lang talaga magtago.

KIDLAT- hmm , same with ZFT since dun din naman sya nanggaling, Habits you know.

T3 ( The Tattooed Trader)- well, this guy is LEGIT. He trades international markets too not just PSEI. Reasonable Fee. Good guy,prangka din. He doesnt tolerate Bullshit. He wont try to impose his system sayo but instead encourages you to go with the process. That's it.

Gandah Koh ( Trader's Lounge) - He/She provides free content daw. Yes, FREE content pero at the same time sinasabi nya that he/she is just an average trader. Kicks people who patronizes paid mentorship / who belong sa paid mentorship or kahit magtanong ka man lang ng about paid mentorship rage mode na agad tapos kick na agad. Yung mga followers nya ayaw lang talaga gumastos to learn premium content. Biruin nyo? gusto maging free yung investa? lol.
Ironic, why? kasi sabi nya average trader lang daw sya but he/she shuts off people who would want to learn from those who are better than her. To all hehis followers, Eto po tanong ko.
  1. may member ba sa Trader's lounge na consistently profitable na? with rising equity curve?
  2. Do you think the best traders out there did not spend any cent to boost their career to the top?
Simple lang yan. isip isipin nyo. :D

BOH- Superb! yung mga quant models nila ay one of the best if not the best. Very technical and systematic yung BOH and their team ay may credentials to back it up. Yung Fee ay affordable, kayang kaya ng ordinary working people.
Oakbridge (DAVAO)- not much information about them kasi tahimik lang sila ,but what i know is that bigatin yung mentors dun but apart from that i don't know much kaya i can't say anything more.
Bigote (bigote trading financial advocacy) - Eto yung free content na LEGIT. One of the best people i know, he is a caylum trading institute alumni. Eto, you use his system plus master price action.
Open journal by Javi Medina, Matt flores, Ken Arcano - If you dig Elliot wave then they are the guys you want to learn from, the information they provide are all backtested, no guess works just pure juicy contents day in and day out.
Trivia:
They manage funds from various big time clients.
Tomatrader, Jet mojica(from BOH), Joanne (from investa), Bearyo ( from investa) and etc Joined Open Journal.
Javi Medina - ranked 1st the 2020 US investing competition, also he was an investacup champion.
Ken Arcano - top 5 in investacup.
Matt Flores- i dont know much about him though, silent kind of guy.
OJ's system can be used in trading crypto, Forex , commodities, US stocks and other indices.
Caylum Trading Institute - i think di na kailangan e describe pa yung caylum eh. *wink*

So there you go. It's your choice kung how you will take my opinion, you can bash me or what i really don't care. At the end of the day, choice nyo pa rin yon.
Kung ako lang, id go with
  1. Read the trading code by jason cam.
  2. Download any price action videos/books . Ex. Steve nison books
  3. Try out Bigote's framework or enroll with any one of those services , but i would recommend open journal, BOH, T3 or caylum. If you want ZFT or kidlat then go for it.

At the end of the day, stick with one system , be patient, dont shortcut the process, master one setup at a time and improve your trading psychology. I dont want to spread hate, just spitting out my opinion.
You can share this in fb, twitter or any socmed you like or not share this, do whatever you want.
That's all. Stay home to help the frontliners.
submitted by Bertochinaman123 to phinvest [link] [comments]

Bitorex Reviews

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submitted by Mase2592 to u/Mase2592 [link] [comments]

Im a growing trader and i have a question, any help would be appreciated

I'm still a fairly new trader, I've with known about the markets for a few years but i only started lately with about approximately 6 months of consistently educating myself and teaching myself on all the different parts of trading, some parts I feel confident with while others might not be the best that I can be YET.
a list of things i can say i understand would be
fundamental analysis, technical analysis...to a certain extent (always room for improvement) indicators and various tools like the macd, momentum indicators, rsi, stochastic indicators, bollinger bands, etc, risk managment and protecting capital the meaning of certain candelstick patterns, diffrent markets like stocks, forex, commodities and dividend stock. i also learnt how not to fall for stupid internet scams.
ive been trading with a demo account for the most of my learning period but i have traded with a live account too.
I took a liking to the 4 hour timeframe and built my own trading plan from there onwards , i guess i just feel like my personality matches the 4h charts, but i use 1D 1H 30M also.
I just want to be a succesful trader and improve my standard of life, buy myself a cozy house, fall in love, help my mother pay her bills, these regular things.
I'm working on making enough money to fund my account since im only 19
With all i have already taught myself I cant help but feel like theres someting important that i am missing and have not stumbled into yet to teach myself or learn. Like what is the next step in my growth?
i feel like i dont have all the pieces of the puzzle.
what do you think it might be?
submitted by starrbeats to Forex [link] [comments]

I have a question

I'm still a fairly new trader, I've know about it for a few years but i only really started properly with about 6 months of consistently educating myself and teaching myself on all the different parts of trading, some I feel confident with while others might not be the best that I can be YET.
a list of things i can say i understand would be
fundamental analysis, technical analysis...(to a certain extent)always room for growth... indicators and various tools like the macd, momentum indicators, rsi, stochastic indicators, bollinger bands, etc, risk managment and protecting capital the meaning of certain candelstick patterns, different markets like stocks, forex, commodities and dividend stocks. i also learnt how not to fall for stupid internet scams.
ive been trading with a demo account for the most of my learning period but i have traded with a live account too. Doubling my small accounts of about $40
I took a liking to the 4 hour timeframe and built my own trading plan from there onwards , i guess i just feel like my personality matches the 4h charts, although i use D1, H1, 30M also in my analysis
I just want to be a succesful trader and inprove my standard of life, buy myself a cozy house, fall in love, help my mother pay her bills, these regular things.
I'm working on making enouph money to fund my account since im only 19
With all i have already taught myself I cant help but feel like theres someting important that i am missing and have not stumbled into yet to teach myself or learn. Like what is the next step in my growth?
i just feel like i dont have all the pieces of the puzzle.
what do you think it might be?
submitted by starrbeats to Trading [link] [comments]

So you wanna trade Forex? - tips and tricks inside

Let me just sum some stuff up for you newbies out there. Ive been trading for years, last couple of years more seriously and i turned my strategies into algorithms and i am currently up to 18 algorithms thats trading for me 24/7. Ive learned alot, listened to hundreds of podcasts and read tons of books + research papers and heres some tips and tricks for any newbie out there.

  1. Strategy - How to... When people say "you need a trading strategy!!" Its because trading is very hard and emotional. You need to stick to your rules at all times. Dont panic and move your stop loss or target unless your rules tell you to. Now how do you make these rules? Well this is the part that takes alot of time. If your rules are very simple (for example: "Buy if Last candles low was the lowest low of the past 10 candles." Lets make this a rule. You can backtest it manually by looking at a chart and going back in time and check every candle. or you can code it using super simple software like prorealtime, MT4 ++ Alot of software is basicly "click and drag" and press a button and it gives you backtest from 10-20-30 years ago in 5 seconds. This is the absolute easiest way to backtest rules and systems. If your trading "pure price action" with your drawn lines and shit, the only way to truly backtest that kind of trading is going in a random forex pair to a random point in time, could be 1 year ago, 1 month ago, 5 years ago.. and then you just trade! Move chart 1 candle at a time, draw your lines and do some "actual trading" and look at your results after moving forward in the chart. If you do not test your strategy your just going in blind, which could be disaster.. Maybe someone told u "this is the correct way to trade" or "this strategy is 90% sure to win every trade!!!" If you think you can do trading without a strategy, then your most likely going to look back at an empty account and wonder why you moved that stop loss or why you didnt take profit etc.. and then your gonna give up. People on youtube, forums, interwebz are not going to give you/sell you a working strategy thats gonna make you rich. If they had a working strategy, they would not give it away/sell it to you.
  2. Money management - How to.... Gonna keep this one short. Risk a small % of your capital on each trade. Dont risk 10%, dont risk 20%. You are going to see loosing trades, your probably gonna see 5-10 loss in a row!! If your trading a 1000$ account and your risking 100$ on each trade (10%) and you loose 5 in a row, your down -50% and probably you cant even trade cus of margin req. Game over.. Now how does one get super rich, super fast, from risking 1-3% of your account on each trade?? Well heres the shocking message: YOU CANT GET RICH FAST FROM TRADING UNLESS YOUR WILLING TO GO ALL IN! You can of course go all in on each trade and if you get em all right, you might get 1000%, then you go all in 1 more time and loose it all... The whole point of trading is NOT going bust. Not loosing everything, cus if you loose it all its game over and no more trading for you.
  3. Find your own trading style.... Everyone is different. You can have an average holding period of 1 month or you could be looking at a 1 min chart and average holding time = 10 minutes. For some, less volatility helps them sleep at night. For others, more volatility gives them a rush and some people crave this. There is no "correct" timeframes, or holding periods, or how much to profit or how much to loose. We are all individuals with different taste in risk. Some dont like risk, others wanna go all in to get rich over night. The smart approach is somewhere in the middle. If you dont risk anything, your not gonna get anything. If you risk everything, your most likely going to loose everything. When people are talking about trading style, this is kinda what that means.
  4. There are mainly 2 ways to trade: Divergence and Convergence. Or in other words: Mean reversion or trend following. Lets talk about them both: Trend following is trying to find a trend and stay with the trend until its over. Mean reversion is the belief that price is too far away from the average XX of price, and sooner or later, price will have to return to its average/mean (hence the name: MEAN reversion). Trend following systems usually see a lower winrate (30-40% winrate with no money management is not uncommon to see when backtesting trend following systems.. You can add good money management to get the winrate % higher. Why is the % winrate so low? Well a market, whatever that market is, tend to get real choppy and nasty right after a huge trend. So your gonna see alot of choppy fake signals that might kill 5-6 trades in a row, until the next huge trend starts which is going to cover all the losses from the small losses before the trend took off. Then you gotta hold that trade until trade is done. How do you define "when trend starts and stops"? Well thats back to point 1, find a strategy. Try defining rules for an entry and exit and see how it goes when you backtest it. For mean reversion the win % is usually high, like 70-90% winrate, but the average winning trade is alot smaller than the average loosing trade. this happens because you are basicly trying to catch a falling knife, or catch a booming rocket. Usually when trading mean reversion, waiting for price to actually reverse can very often leave you with being "too late", so you kinda have to find "the bottom" or "the top" before it actually has bottomed/ topped out and reversed. How can you do this you ask? Well your never going to hit every top or every bottom, but you can find ways to find "the bottom-ish" or "the top-ish", thens ell as soon as price reverts back to the mean. Sometimes your gonna wish you held on to the trade for longer, but again, back to point 1: Backtest your rules and figure that shit out.

Read these 4 points and try to follow them and you are at least 4 steps closer to being a profitable trader. Some might disagree with me on some points but i think for the majority, people are going to agree that these 4 points are pretty much universal. Most traders have done or are doing these things every day, in every trade.
Here is some GREAT material to read: Kevin Davey has won trading championship multiple times and he has written multiple great books, from beginner to advanced level. Recommend these books 100%, for example: Building winning algorithmic trading systems" will give you alot to work with when it comes to all 4 of the above points. Market wizards, Reminiscences of a stock operator are 2 books that are a great read but wont give you much "trading knowledge" that you can directly use for your trading. Books on "The turtles" are great reading. Then you have podcasts and youtube. I would stay away from youtube as much as possible when it comes to "Heres how to use the rsi!!!" or "this strategy will make you rich!!". Most youtube videoes are made by people who wanna sell you a course or a book. Most of this is just pure bullshit. Youtube can very harmfull and i would honestly advice about going there for "strategy adivce" and such. Podcasts tho are amazing, i highly recommend: Better systems trader, Chat with traders, Top traders unplugged, We study billionairs, to name a few :)
Also, on a less funny note.. Please realize that you are, and i am, real fucking stupid and lazy compared to the actual pro's out there. This is why you should not go "all in" on some blind stupid strategy youve heard about. This is why this is indeed VERY FUCKING HARD and most, if not everyone has busted an account or two before realizing just this. Your dumb.. your not going to be super rich within 1 year.. You can not start with 500$ account and make millions! (some might have been able to do this, but know that for every winner, theres 999 loosers behind him that failed... Might work fine first 5 trades, then 1 fuckup tho and ur gone..
And lastly: Try using a backtesting software. Its often FREE!!! (on a demo account) and often so simple a baby could use it. If your trading lines and such there exists web broweser "games" and softwares that lets you go "1 and 1 candle ahead" in random forex pairs and that lets you trade as if its "real" as it goes.
A big backtesting trap however is backtesting "losely" by just drawing lines and looking at chart going "oh i would have taken this trade FOR SURE!! I would have made so much money!!" however this is not actually backtesting, its cherry picking and its biased beyond the grave, and its going to hurt you. Try going 1 candle at a time doing "real and live" trades and see how it goes.

Bonus point!!
many people misunderstands what indicators like the RSI is telling you. Indeed something is "overbought" or "oversold" but only compared to the last average of xx amounts of bars/candles.
It doesn't tell you that RIGHT NOW is a great time to sell or buy. It only tells you that the math formula that is RSI, gives you a number between 1-100, and when its above 70 its telling you that momentum is up compared to the last average 14 candles. This is not a complete buy/sell signal. Its more like a filter if anything. This is true for MOST indicators. They INDICATE stuff. Dont use them as pure buy/sell signals.. At least backtest that shit first! Your probably gonna be shocked at the shitty results if you "buy wehn rsi is undeer 30 and sell when RSI is above 70".

Editedit: Huge post already, why not copy paste my comment with an example showing the difference in trend following vs mean reversion:
The thing about trend following is that we never know when a trade starts and when it ends. So what often happens is that you have to buy every breakout going up, but not every breakout is a new trend. Lets do an example. Check out the photo i included here: https://imageshost.eu/image/image.RcC

THE PHOTO IS JUST AN EXAMPLE THAT SHOWS WHY A TYPICAL TREND FOLLOWING STRATEGY HAVE A "LOW" WINRATE.
THE PHOTO IS NOT SHOWING AN EXAMPLE OF MY STRATEGIES OR TRADING.

  1. We identify the big orange trend up.
  2. We see the big break down (marked with the vertical red line) this is telling us we are not going higher just yet. Our upwards trend is broken. However we might continue going up in a new trend, but when will that trend come?
  3. We can draw the blue trend very earyly using highs and lows, lines up and down. Then we begin to look for breakouts of the upper blue line. So every time price breaks upper blue line we have to buy (cus how else are we going to "catch the next trend going up?)
As you can see we get 5 false breakouts before the real breakout happens!
Now if you could tell fake breakouts from real breakouts, your gonna be rich hehe. For everyone else: Take every signal you can get, put a "tight" stop loss so in case its a fake signal you only loose a little bit. Then when breakout happens as you can clearly see in chart, your going to make back all the small losses.
So in this example we fail 5 times, but get 1 HUGE new trend going further up. This 1 huge trade, unless we fuck it up and take profits too early or shit like that, is going to win back all those small losses + more.
This is why trend following has a low winrate. You get 5 small loss and 1 big win.

Now lets flip this! Imagine if your trading Mean reversion on all the same red arrows! So every time price hits the blue line, we go short back to the bottom (or middle) again! You would have won 5 trades with small profits, but on that last one you would get stopped out so hard. Meaning 5 small wins, 1 big loss (as some have pointed out in comments, if you where trading mean reverting you would wanna buy the lows as well as short the tops - photo was suppose to show why trend following strategies have a lower % winrate.)

Final edit: sorry this looks like a wall of text on ur phones.
submitted by RipRepRop to Forex [link] [comments]

So you wanna be a proffesional trader?

Back to the trenches I guess. Some of you might remember my last post over proffesional approaches to the markets. If not I suggest you take a look on it before reading this.
https://www.reddit.com/Forex/comments/cxymyf/a_peek_into_how_financial_institutions_play_this/
I promised to discuss some stuff about macroeconomic approaches to forex, and well, with some delay here I am. Again, here I introduce the very same disclaimer. This is a professional approach, not coming from retail. Take everything with a grain of salt, and exercise proper due diligence with your approach. Sincerely hope you get something out of this post.
An inconvenient, forex truth
You've been there, struggling and suffering for a while. You have experienced the pain that the markets can unleash on you. You have left positions on the red for longer than your sanity could possible hold. You have opened positions that moved to the green, but you did not take any profits and you let that position slowly die and possibly causing huge loses. Now here you are , in October 2019, possibly as a breakeven trader, still suffering and trying. You have researched hundreds of indicators, if not thousands. You thought you have all sorted out with your RSI , stochastics and TDI. Yet you have switched between strategies more than you have changed your underpants in your whole life. Spent too many hours looking at the screen, wondering what the hell you are still missing.
And the incovenient truth is that you want the glitz and the glamour, and the caviar, but you are not willing to eat the shit. And this is the shit: How are you expecting to make any good money on a field where you dont know virtually anything about it. Nor the substance that you are trading, nor what moves it. How are you actually expecting to beat guys that breath and eat economics?. You know literally nothing about volatility and liquidity, about interbanking flows , about puts and calls, market microestructure and price delivery mechanisms both on OTC markets and CME , what is GDP , how is calculated and why is critical. CPI, NMI, GDP to debt ratios, UST, repo markets, shadow banking, carry diferentials, how and why commodities alter certain currencies. EM vs G10 currencies, pegged vs unpegged. Balances of Payments.... When you hear "greeks" you are thinking about the Iliad or Athens. You know nothing about business and credit cycles. Valuation anchors, return to the mean, standard deviations, fair values. I could go on and on and on. Does this make you uncomfortable? It should.
You have dozens of the best students that the world can produce, coming out of the London School of Economics, or from IT degrees in Harvard and MIT, all moving into freaking huge financial institutions, building complex system, doing incredible research . Funded to an extreme you can not imagine. Working in partnership with the IMF and Central Banks all aroundthe world. PhD's dedicating their lifes to such complex systems and situations....... and yet here you are, insolent and ignorant piece of s***, you that have been trying to make your "RSI" or "stochastic" work for 2 months, trying to beat this multi billion-trillionaire infrastrucure. Do you start to realize where the f*** do you stand? Do you really believe even for a freaking second that you can beat them on their game? Using RSI or Ichimoku? EAT.THIS.SHIT.
And its not that technicals are not necesary. They are. But believe me, I (and most pro's that I've ever engaged with) spent less than 1/5 of the time actually managing trades and looking at price charts. If I'm not scalping , my day starts with me reading around 12 to 15 research papers coming from the main financial institutions, glued to my Reuters terminal reading more reports, looking at polls, updating my macroeconomic models with the latest data, performing calculations related to options...... only then, with a fundamental trading idea, I will move to evaluate technicals to see if the timing is good.
I want to learn, how shall I procede?
You want to build a lasting and enjoyable relationship with the market? EAT THE SHIT, and do all that is under your control to actually be able to open The Financial Times and understand what they are talking about. It will take you years, and for the education, hundreds of dollars. But this is how it goes if you want to get real. This is career, not a hobby. This is simply the way to be consistent. EAT THE SHIT.
I compiled some resources to get you started:
ACATIS Konferenz 2016, Mr. Koo, Surviving in the Intellectually Bankrupt Monetary Policy Environment - A great video coming from Nomura, to understand the actual shitty situation in the Eurozone.
Online Courses - Look for IMF on EDX. Also, a fenomenal course on Banking and Money in Coursera.
Books -
Macroeconomics, Gregory Mankiw - Start here to graps the basic concepts
Financial Times Guide to the Financial Markets
Financial Times Guide to Banking
Applied Financial Macroeconomics and Investment Strategy: A Practitioner’s Guide to Tactical Asset Allocation
The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession
The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy
The Other Half of Macroeconomics and the Fate of Globalization (English Edition)
The new lombard street - how the fed became the dealer of last resort
Foreign Exchange , Amy Middleton
The Role of Currency in Institutional Portfolios, Momtchil Pojarliev and Richard M. Levich
Currency Overlay: A Practical Guide, Second Edition, Hai Xin
The Handbook of Corporate Financial Risk (2nd edition)
Trade Stocks and Commodities with the Insiders: Secrets of the COT Report (Wiley Trading)
How I Made One Million Dollars Last Year Trading Commodities
Market Liquidity: Theory, Evidence, and Policy (English Edition)
Trading And Exchanges: Market Microstructure For Practitioners
The Microstructure Approach to Exchange Rates
The Creature from Jekyll Island: A Second Look at the Federal Reserve
Big Debt Crises
Payments Systems in the U.S. - Third Edition: A Guide for the Payments Professional
The Volatility Machine: Emerging Economics and the Threat of Financial Collapse (English Edition)
Stabilizing an Unstable Economy
submitted by Cryptochihuahua to Forex [link] [comments]

How To Build A Strat In It's Simplest Form

A lot of people over complicate Forex and will see some bizarre strats e.g MACD, EMA, ITCHI and RSI.Sooo whats the problem with that hypothetical strat?
It has 3 Trend indicators in it which doesnt really make much sense does it? why would you need 3 indicators all to tell you the same thing? They dont exponentially increase likeliness of being right with more of them.
So why do people do this (and why did i do this?) Because they kinda just grab some indicators they've heard some good things about and chuck them together or even just random default ones, none of which serve a purpose to painting the picture of the market.
How to start using indicators to paint the picture of the market?
Before i get into it and the PA brigade come, it is completely possible to spot all the things im going to list below with just price action and your noggin, but it takes a lot of damn work.
When you actually break the market down it becomes a lot simpler and when i was given this by my mentor it took me on a much better path in forex.
The market is comprised of 4 components;
I use this formula as the basis for all my strat's and my Mentor use's it aswell, its incredibly simple but often incredibly over looked.
Example's Of Trades
I have labled 1 to 4 on images and they relate to the Forumula above, explanation will be below
Trade 1 📷https://gyazo.com/c257d8790abea2083416fbc9643bdf3e
1 + 2 = Itchi (trend) and BB (Volatility) BB was broken and Itchi changed to upwards.
3 = SR that our EA placed
4 = Momentum changed.
Trade 2 https://gyazo.com/6ed328786f832266e4f488d5788b930d (1,2,3,4 is the same as above)
Trade 3 https://gyazo.com/9989a9ae5aa1be6c7042d1e87842181d (1,2,3,4 is the same as above)
Any questions shoot away
EDIT:
Exits;
Exits are based on the same formula, a TL:DR would be i need all 4 parts of the market to enter and only need about 2 or 3 to exits (some times 1 in rare cases)
EDIT:
Because people cant understand what i mean by this
"A lot of people over complicate Forex and will see some bizarre strats e.g MACD, EMA, ITCHI and RSI.Sooo whats the problem with that hypothetical strat?
It has 3 Trend indicators in it which doesnt really make much sense does it? why would you need 3 indicators all to tell you the same thing? They dont exponentially increase likeliness of being right with more of them."
I am NOT ripping on indicators at all im "ripping" on people (who like my self) used to make the mistake of taking random indicators and having multiple indicators telling you the exact same thing, in the majority of situations you do NOT need multiple trend indicators, multiple volatility indicators or multiple S&R indicators.
Majority of the time you need ONE indicator for each as using 5 trend indicators does not increase the chance of them being correct by 1000's of %, the one that I use multiple of is the oscillator, its a custom built one that is then scaled up so the medium and long term one is just the short term one scaled to higher time frames to get a larger picture
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Why You Should Never Use Indicators in Forex Trading?

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