I am still pretty new to forex. I am looking for a trading system I can sit down and learn. I really want something that is systematic and not objective or open to opinion. For instance, a system that includes support and resistance levels won’t work for me. I end up charting every little thing I think is support and resistance and then what really bugs me is that support and resistance is a “zone”. Well, how am I supposed to know where to draw this “zone” if everyone’s opinion is different. This is why I am looking for something systematic.
I found a YouTube Channel called Trade Pro that makes videos about trading system, especially systematic ones. But I just wanted to come on here and see if anyone had any recommendations?
Thanks ahead,
Jacob
“You get paid in proportion to the difficulty of the problems you solve” - Elon Musk
The FX market movements are a result of humans disagreeing with one another. Your job is to find positive probabilities of being on the right side of a trade.
If Trade Pro offer a solution to that, then follow their process.
I’m afraid that’s not how it works. Test out what you are learning and see how it sits with you and if it works. You will likely find you need to tinker with it to find the right blend of rules to create your OWN systematic approach to the markets. What works for one doesn’t work for the other. This is why learning to trade can take so long and why many never make it.
This strategy might output a signal next week on GBPJPY (the best pair I tested).
Both of those triggered a signal last week.
Also, on GBPJPY, when price moves either direction then has a reversal candle, place an order at the high of the up or low of the down and if the move continues you get a lot of wins, if it reverses you never got in. Works terribly in a range, suppose you could filter that buy having a high and low that if neither get breached you don’t place more orders. Don’t leave the orders open for long, if they don’t get taken within 5-10 days then it’s not a trend.
Here’s a filtered one where I’ve marked out trades not taken and it has 7 winners and 1 loser. Obviously SL and TP will be key to the results, definitely 1 of those could go either way
Octopus Nest
5M to 1H - PSAR, 100EMA.
Buy signal is when first PSAR buy dot appears and the next candle closes above 100EMA or is already above 100EMA, and above last sell PSAR dot. Recommend placing a line at the last sell PSAR dot.
SELL signal is opposite.
I know the strategy. I’ve tested it on lots of symbols and it loses on them all. Which symbol have you found works well? I can run a long term backtest with my EA
In terms of TA, chart patterns etc. daily time-frame is reliable, reducing as you reduce the time-frame duration. D1 also allows traders to plan set-ups and enter trades via pending orders at key prices, rathe than trying to react ad hoc within minutes to unanticipated price movements.
Hi Jacob
Start to learn Market Structure and Price Action on a chart without any indicators. Start to identify up trends, down trends (HH / HL)(LH / LL) and sideway markets using market structure. Use Price action to identify turning points in the markets. If you can do this you are on your way to develop your own strategy. Somebody else’s may not work for you because we are all different. When I started trading 9 years ago I waisted a lot of time trying to trade somebody else’s system. Develop your own system by learning the above. Unfortunately if you cant draw S&R lines/zones (majors and minors) you have much to learn. Trading is a game of probabilities, nothing is sure so do not look for something that does not exist. Trading is very simple once you understand what you see on a chart, but it will not happen by itself, you have to put in the hours like all successful traders.
Johan
