Just trying to find mt4. Havent used that in decades.
Do you use MT5 Strategy Optimizer or Mql5 cloud network?
no, I don’t use any of these solutions
To determine the trend direction, refer to the higher timeframes such as H4, D1, or W1. The reason for this is that higher timeframes provide a more accurate and reliable view of the market trend. It is important to use historical data analysis to confirm the trend direction and avoid false signals. Historical data analysis can be done using Tester d MT4 or MT5. Thank you for your question. Setting up a trading robot is justified, but for manual trading, it is not necessary.
For beginner’s advice, it is important to avoid relying too heavily on indicators.
While they can be useful in building a trading strategy, it’s crucial to remember that they can fail or be affected by unusual market conditions.
Experienced traders strongly recommend learning
Price Action, which allows for a cleaner chart without an overwhelming number of indicators and the ability to quickly adapt to changing market conditions.
You aren’t part of the mql5 cloud? How are you optimizing strategies?
I cant go back to mt4, Im all MT5 & Mql5.
The way I build and test strategies is a trading secret. The free strategy I published is also available for the MT5 platform
[Edited for Forums Policy violation]
There are NO ‘trading secrets’ in Forex. You are hiding behind a façade to sound smart, using a 20 year old trading platform, and not knowing about the most powerful strategy network in the world, I’d be pretty embarrassed too. No thanks on that “free strategy”. BabyPips secrets. Just sad. Well-deserved Block from me.
To the OP, you can find 10x better trader signals just here https://www.mql5.com/en/signals & with the MQL5 network, you’ll be able to simulate all trading scenarios with any of these free Expert Advisors https://www.mql5.com/en/market/mt5/expert/free and choose to trade similar ones manually once you find a strategy that suits your goals.
wrote a guy which doesn’t have any live results , no trading secrets on the market? There are many method to build and test strategies, that’s why each me method is trading intellectual property, trading secrets but what do you know about it, you don’t have any. Do you think mql5 cloud and MT5 us the best solution to build and test strategies? You don’t know nothing about development strategies in current technology time. You have still so much to learn young padawan.
Cool I’ll have a look thanks.
A system should be set of rules that dictates whether if you enter a trade.
The set of rules can be based on anything: whether if prices are high low, how far has price moved, how long has price consolidated, how does the RSI look, how does the RSI look compared to the MACD, which day of the week is it, is it a full moon yesterday… It can be anything that gives you an edge… you get the idea…
And how do you know if it gives you an edge? You backtest your rules, and then you forward it in demo, and then you start small in live account, then you scale up…
Somewhere along the way, you will find that your system is wonky, and you need to tweak it, so you go back to the drawing board and redesign your rules, and repeat the entire process.
Well, I guess the million-dollar question is what rules are out there that I can choose from? I don’t know what I don’t know. You know what I mean.
Sounds like I just need to try systems, a bunch of them, and then like pick pieces from one and another piece from a second one and then just keep doing that.
It’s not really a million dollar question as to what rules are out there…
Almost ALL of the above said rules are readily available on the internet. Some do not have an edge, others do have a slight edge. You will find that you need to put together several rules to have an edge.
Don’t just try blindly, use a bit of common sense and crowd psychology and pick your rules around them.
To start anyone off perhaps, imagine you are in a trending up trade, and you see HHHL, and you joined the trend, and perhaps your stop loss is set below the most recent low, and then price went down and hit your stop loss, you market sold and pushed the price further down. And you thought to yourself, you should have shorted instead of going long. Now that’s a very common scenario isn’t it? So that is your idea, and you build your system around it. Perhaps EMA to suggest price is trending up. Perhaps ATR to suggest where to put your SL. Perhaps RSI to indicate how strong the trend is. Perhaps RSI overbought to indicate maybe the trend is TOO strong. What does too strong imply? What would you normally do if price is TOO strong? Would you keep buying? Or would you have decided to short?
And then you have a set of rules that you can go and backtest on. After backtesting you realise that it doesn’t work, soo now maybe you need to refine how you define trend? Or maybe your initial idea that people joining trend is incorrect? But surely that can’t be incorrect because everyone sees HHHL they want to long it, or is it really? Then perhaps you go and research about what institutions do when they see HHHL. Maybe it works in commodities, and not in FX. And you go and figure out why.
You start digging and trying and digging and trying, and after a long while you form a set of belief and how you read the market that sort of make sense more often than not, and there is your edge.
So lots of testing. I mean that’s so simple. Maybe I’m trying to make things too complicated.
Is that what you use? MAs, RSI, ATR?
Learn those indicators, so you can have a better understanding of your trading system down the line.
Testing is the basic amount of work to put in yes.
Try to test your “read” of the market which is more important. It’s not about whether if indicator X shows, then price moves up.
It’s about, indicator A shows, it tells me that the market is strong. And Indicator B shows, which substantiates that market is strong. But price action is consolidating, so I’m looking for a breakout. But if it is a fakeout, then I need to stop out below xxx level. And price has been trending for the last 2 hours, so chances are steam is running out. It’s close to the market close, people might be taking profit from here. We are not yet at pre market high, and I expect the price to continue to test there. However price is so overextended, so I’m looking a Fib level pullback. etc etc.
Is that what you use? MAs, RSI, ATR?
I have the MA on my charts, it let’s me know if price is trending for the day, and how strongly the price is trending. It is useless when price is ranging for the day.
I don’t have the RSI. But I do see divergence as a clear indication of trending slowing down. I see basic market structure HHHL for trends, or how clean the HHHL is.
I don’t use the ATR but I measure my candles with basic charting tools.
And I use plenty of other tools like Fib levels, prior day close, volume profiles, vwap. Some are useful others are useless for the day.
no? so why paid courses exist?
I sound smart because I am smart, my trading results prove it, do you have any live results, or you just talk?
tell me, where I wrote that I use 20 years old trading platform to create and test strategies, because I can’t find it
Why are you even entertaining this😂. Its a shame how people want to free handouts without them actually getting the knowledge. This person has a long way to go.
This user lie about me, sharping information from context so I expecting clarification. Maybe moderators team or other kind member can inform him about my questions because as he wrote “Well-deserved Block from me.”
Thanks for sharing. Good amount of stuff there I can look at and see about using more, or actually understanding better.