This Week's Question: What is the Most Valuable Trading Tool You've Recently Discovered?

For this week’s question, you could totally say BabyPips.com and we’ll happily accept that. Ha. But if you have other trading tools you’ve recently discovered (maybe MarketMilk™? Heh) or anything that you’ve found really helpful in your trading, share them here!

It could be an online tool or a physical one - maybe your calculator has been super helpful? A notebook perhaps? A pen?? Anything!

Personally, TradingView is one trading tool I’ve found really really helpful. Granted, I didn’t discover it recently but it’s still way up there in terms of usefulness.

How about you? What’s yours?

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Yes, there’s something.

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Freely available Forex pair performance and Mapping tools from Barchart.com

Will give you insight of the Forex/CFD Markets at a glance…

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Adam Khoo’s YouTube Channel. His courses on Forex is one of the most complete package for beginners.

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I know this isn’t new, but I happened to be watching a trader’s Vlog yesterday. She had blown several accounts until she found her profitable strategy. It was based on supply and demand by correlating three time frames (Monthly, Daily, and (4 hr, the intraday trading chart) two S&D zones for intraday, & two S&R zones for long term trend.

The rest of the chart was naked, without any indicators, although I would have included ATR for my S/L. What I learnt, is that the probability of the market following its wave pattern consistently by entering and exiting the zones, is a great indicator of when to take a trade.

Of course it’s only a probability, but better than 50%, IMO.

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heatmap is cool.

started the crypto trading. Seems interesting so far.

That can’t be further from the truth. Adam Khoo is from my country and everyone here knows he’s a fraud.

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Do you perhaps have a link or a name ?
I’d like to learn more from her experiences, I can relate to the strategy she’s using.

Candice B - https://www.youtube.com/results?search_query=candice+b+forex

She tends to waffle on, but is a genuine trader, and humble.

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Price Action lol, have been studying and backtesting. Went live with it this week. Love it.

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I have really just started using Price Action, why I haven’t posted in my other strategy thread.

Youtube has to be number 1 for me. Its free education and has some great insights from successful traders. If I ever get stuck with some problem i can most likely find the solution on youtube.

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Almost too many to list.

Can it be 2? 3? 4?

Top 5 it is…

  1. Dillon Grech’s video series on Tradingview coding inspired me to get my own strategy coded and published.
    I’m now tweaking and collecting years of data.
    It used to take me an hour to backtest 1 year of data for 1 currency.

Now I do 44 pairs for 10 years in less than 1 hour.

  1. Desire to trade podcast. Just the variety of guests and backgrounds. It’s ace to pick out the common themes too.

  2. Better System Trader podcast. Again great guests, but as I’m designing my own algo’s I’ve been able to pickup so many titbits that have helped things fall into place.

  3. Discord servers. The only forum that I use is baby pips, all the other forums are dead now. But since adding discord to my resource list I’ve been able to mix with the wider community and share my findings back to here.

  4. Myfxbook. It’s been great using stats from myfxbook to review my trades and try to pick to bits where I’m going wrong.

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Most valuable tool discovered isLiquidity

Concerning Discord servers. Is there a server for Baby pips? How do I access it? If not, then which Discord servers do you engage with?

I’m using the “not another trading podcast”, “Quant Space”, “No Nonsense Forex” and “The Trading Journal” servers.

I have a few tools and sites that have been using and helpful.

  • First and foremost, babypips.com/school. It’s a compass that gives direction when I was starting.
  • Youtube channels. There are a lot of good stuff in it.
  • Udemy. I enrolled in a few courses.
  • Tools of FXFledlging in MQL5 site namely
  1. Volatility Watcher - very good for manual trading
  2. OBOS Watcher - very for manual reverse trading
  3. World EA - I have to test this for a very long time to see the usefulness.
  4. Consistent EA - simpky consistent
  • Quick Dragon. It moves its platform and just launched in Patreon. My favorite tools from them are
  1. GridAdapter
  2. QD Basic Exit Plan
  3. Baasic Scalping Tool
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altfins…automated trading pattern recognition…amazing time saver