I’ll make a trial version available soon for everyone to test it out
Hey Desmond,
Thanks for the updates. I’ll be looking forward to the updates to comes. Lemme know what sort of feedback you are looking for, and I will be happy to give my input.
Have a great trading week
Here’s an update guys! Guide #1 : What is the Galaxy Trades Matrix
[B][U]The Galaxy Trades Matrix is an amazing MT4 scalping indicator used by the top 1% of institutional traders.[/U][/B]
[B][U]The problem with trading these days :[/U][/B]
The market consists of over a thousand different indicators you can use, of which almost 99.9% of them are “lagging indicators”. This means that they have to wait for the market to respond before giving you a signal, and this leads to a “herd mentality” where the large bulk of traders enter the market only to realize it turns againt them.
[B][U]There are, however, only 2 “leading indicators” around that are ahead of the market :[/U][/B]
Volume (we can’t have access to this data as the forex market is too huge)
Fibonacci Retracements + Extensions
Many traders have used fibonacci retracements and extentions while trading, and sometimes get really promising results. However, soon they realize that while fibonacci retracements can give you a “sell” signal on the 5 minute time frame, it could give a “buy” signal on the 15 minute time frame. On top of all that, when should they exit the trade after they’ve entered all these trades? All these uncertainties soon lead to the downfall of every fibonacci trader.
We could analyze 5+ time frames for every currency pair and constantly redrawing fibonacci lines and trend lines, and we’ll probably get some huge messy desktop such as this (just for one currency pair!) :
Looks messy, right? This is just a simple example of studying trend lines, fibonacci levels, overbought/oversold zones and moving averages for 1 currency pair. What if you wish to monitor 4 currency pairs? It’ll look more like this :
Oh the horror!
[B][U]Introducing the Solution : Galaxy Trades Matrix[/U][/B]
[B][U]How to read the Galaxy Trades Matrix in 5 easy steps[/U][/B]
[B][U]Part 1 : Time Frame Lanes[/U][/B]
The Galaxy Trades Matrix is split up into 5 “lanes”, each lane shows the most important features of that particular time frame. At the bottom of each lane, you will notice the time frames : 1m, 5m, 15m, 1h, 4h
[B][U]Part 2 : Currency Walls [/U][/B]
In each lane, you will notice there are numbers such as -23- , -38- , -85- . These are key strong fibonacci levels in that particular time frame.
[B][U]Part 3 : Momentum Arrows [/U][/B]
In each lane you will notice a yellow, orange and gold arrow pointing either up or down. These are also key resistance levels but more importantly, they show you the overall price momentum of that particular time frame.
[B][U]Part 4 : Red & Green Zones[/U][/B]
The red zones means it’s a very strong moment to “sell” and the green zone indicates a very strong moment to “buy”. You have to wait for price to move up to those zones
[B][U]Part 5 : Instant Trading + Scaling-Out [/U][/B]
At the top of each Galaxy Trades Matrix, you will notice a handy one-click-trading box and beside it, it shows your current spread, open positions and P/L in pips. This is called the “Galaxy Trades Manager” and it automatically helps you set tight stop losses, adjusts them to breakeven and scales out of your profitable positions for you - world class!
[B][U]With the Galaxy Trades Matrix, at one glance, you are able to see key S/R levels across 5 time frames, dynamic overbought/oversold zones and the momentum of the market.[/U][/B]
Well written overview Desmond! Looking forward to testing to start. You rock!
Thanks for the elaboration.
Hello. I will love to be part of your testing group though I heard about your thread lately hope to be part of it. what is your face group?
Hi,
I’ve just discovered this thread and am glad I have done. I like fibs but suffer from the mess on my charts you highlight.
To that end I’m very interested in your indicator and system and am very interested to join your team of merry men and women testing it.
I am obviously being a plum though because I can’t find the Facebook group. Can you pm me or similar?
Many thanks - and good luck with it.
Richard
Here’s an update guys! Guide #2 : How to trade the Galaxy Trades Matrix
[B]Q: With so much power in the Matrix, what can I do with it?
A: Make the most accurate and profitable trades in your life[/B]
[B][U]How it works:[/U][/B]
Price naturally reacts off key support and resistance levels whether they are moving averages, trend lines or fibonacci levels. On a single time frame, you can already see them reacting even for a brief moment, sometimes it works and sometimes it doesn’t.
Now imagine combining not 1, but 5 time frames together and waiting for price to react off their combined moving averages, trend lines and fibonacci levels. The chances of price reacting to those key levels is extremely high.
What if it is during strong overbought/oversold zones? It would be supremely high.
[B][U]1 Simple Strategy (basic):[/U][/B]
The most basic strategy (and with the highest probability of wins) is called the Extreme Currency Wall setup.
[B][U]Galaxy Trades Matrix - Sell Entry[/U][/B]
[ol]
[li]Wait for the red (overbought) or green (oversold) zones
[/li]
[li]Wait for a currency wall row across at least 3 time frames
[/li]
[li]Enter the trade and let the Galaxy Trades Manager handle it for you
[/li][/ol]
It is important to have good position management. I have coded the “Galaxy Trades Manager EA” that automatically, within a split second, helps you set your TP, SL, trailing SL and helps you scale out of positions.
To my experience, this is the best position management tool there is because it removes a lot of the emotional element there is in adjusting TP and SL levels which often come back to bite us.
If SL is hit, wait for market to test another Extreme Currency Wall -> in this case, if the -29-/-30- setup doesn’t work and our SL is hit, we wait for it to rise to the next one which is -72-/-73- level.
[B]This is the core strategy behind the Galaxy Trades Matrix and one of the strongest.[/B]
The guides are really making it clear that your tools are based on sound strategy, which have been proven and tested. By combining into one easy to view page, it reduces the complexity.
How do you plan on keeping traders accountable to one another? Chat group? Live room?
Thanks for the feedback buddy!
Well, there will be a buddy accountable system and a live trading room that integrates with your myfxbook account, meaning all your trades are tracked on your profile and “experience points” are given. So people can’t just say they had a fantastic day when they made 10 losing trades. This is important as we would be able, as a brotherhood, to help that person and see where he is going wrong. No one should lose money to the forex market, or even if they do, we should be doing everything we can to ensure he doesn’t.
It’s like a battlefield, you leave no man behind
The buddy accountable system would first be done through facebook and after which, be done when I get a live chat system working for us on Galaxy Trades.
Accountability is important, but what’s more important is attitude and teamwork. That’s why I’m looking only for people who are team players and not lone rangers who care only for themselves and are looking for a set-and-forget system. This system works really well, and it takes just an hour or two a day to trade (preferably during the US London overlap or periods of high volatility).
Hey, the guides are great! I really like what you’re doing with Galaxy Trades. What is the best way to get more involved? I would love to help out!
I checked the guide and it’s great! One of the best ones that I’ve seen. Such a straight forward and easy explanation. For a newbie, I think they/we will understand it quickly.
Hi, Let me know if I can join the beta tester
Sorry for the terribly late reply, qwatt! Glad you find the guides great I’ve begun handing out the Galaxy Trades Matrix to selected beta testers and am testing out the website’s live trading room and registrations, if you’re interested in spotting how to improve the user experience of these things (like perhaps the site is confusing or the instructions to install the Matrix is not clear), I would really appreciate it
Glad you like in, doncht! I’ll keep the guides flowing in so people can better understand how this system works
Hey tumen! Glad you’re interested in testing it out As mentioned to qwatt who asked earlier : I’ve begun handing out the Galaxy Trades Matrix to selected beta testers and am testing out the website’s live trading room and registrations, if you’re interested in spotting how to improve the user experience of these things (like perhaps the site is confusing or the instructions to install the Matrix is not clear), I would really appreciate it
Is it ready Desmond!!! ??
[QUOTE=“galaxytrades;670474”] Sorry for the terribly late reply, qwatt! Glad you find the guides great I’ve begun handing out the Galaxy Trades Matrix to selected beta testers and am testing out the website’s live trading room and registrations, if you’re interested in spotting how to improve the user experience of these things (like perhaps the site is confusing or the instructions to install the Matrix is not clear), I would really appreciate it :)[/QUOTE]
I’d definitely like to help out with the trading room and registrations! Just let me know how to access it and anything else I need to know! Thanks!
Yup! You have a copy now so do report back from time to time to share your performance with the other babypippers
Thanks for the reply, How do I get started?