How To Trade Using Currency Strength Meter?

newbietofx · April 29, 2014, 3:01am

About Me.
I’ve been learning to trade for 7 years. Never once was I profitable until 2013. This is where I made 100% on a 3 figure account over a year.

In January 2014 I made over 80% in a 4 figure account. And then nothing goes too well after that.

ForexPriceActionTradingHack.com System | Myfxbook

Then the following month I flop and flop and flop. And this is the reason why I write my post now.
Everything change when I move to a new broker. Their GMT is 3 hours earlier than my previous ibfx. The candlestick pattern has changed on the 4hr. My favorite old school pattern also doesn’t work since I’ve also upgraded my leverage to 500:1.

Then I found a scam artist known as Dr Simon and his borrowed CSM program. It changes everything.

My method right now is using CSM to find running trend and get in on a pullback. Or spot over-extended trend and go for the reverse.

So with this journal I hope I can find my sweet spot and make at least 10% again.

Resource
I’m using this CSM
https://itunes.apple.com/gb/app/fore…er/id474439550 which I bought using my iphone 4.
Alternatively you can try this
Forex Performance

It works the same but no backtesting.

What I would cover?
My trades. Past and present and rarely future as I’m too lazy.
Back track cases of how I use CSM to spot running trend and hopefully enough power to continue.

My profits and losses…
ForexPriceActionTradingHack.com2 System | Myfxbook

newbietofx · April 29, 2014, 3:02am

Failure to recognize and accept that one is in a Trend day is one of the most costly mistakes a trader can make.

Several days of trading profits can be lost in one trading session if you are positioned against the trend.

Many knowledgeable professionals estimate that markets trend only 20 to 30 percent of the time. Failure to recognize this fact is one of the main reasons why a large number of traders don’t make money.

The sole purpose behind interpreting other timeframe activity is to find out which way the market is trying to go.

James Dalton

My reason for this thread is to find out the following issues.

Which way is the market trying to go?
Is it doing a good job in its attempt to go that way?
How can I reduce the risk? (Richard Weissman)
How can I increase the reward? (Richard Weissman)

This is my setup.
CSM using iPhone 4

And Samsung note 3 with MT4.

newbietofx · April 29, 2014, 4:08am

When I use the CSM there are variables to which price has already gone. But normally these are 3 outcome that price has shown me after I use the CSM.

Outcome 1 - Price has run for 2 or more candlestick

Outcome 2 - Price has just crossover the 10EMA.

To be continued…