PRIMEVAL EA ROBOT v2.1 FREE DOWNLOAD

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Another free gift for my reader PRIMEVAL EA V2.1
Trading Many Pairs: GBPUSD, EURUSD, USDCHF, USDCAD, USDJPY, GBPCHF; EURGBP, EURCHF, CHFJPY, CADCHF, EURCAD.
Timeframe: M15
Installation Instructions
1. Allow your MT4 to the use of Expert Advisors: (Tools>Options>Expert Advisors' and put a tick on 'Enable Expert Advisors', tick on 'Allow live trade', tick on 'DLL imports', tick on 'Confirm DLL function calls', and tick on 'Allow external experts imports')
2. Copy the ‘ex4’ file to the EXPERTS folder of your meta broker: (PC–PROGRAMM FILES–META BROKER–EXPERTS) and the same action with the ‘dll’ file to LIBRARIES: (PC –PROGRAMM FILES-METABROKER-EXPERTS-LIBRARIES)
3. Close your MT4 Platform, if it was open.
4. Open your MT4 Platform again and now try to find the installed PRIMEVAL EA V2.1 on the Navigation area (left side of the screen, Expert Advisors folder)
5. Then double click and it appears a box to the settings
6. You should now see the PRIMEVAL EA V2.1 in the top righthand corner BUT it should have an X next to it.
7. Turn on the EA (Expert Advisors) you should now see a smiley face in the top righthand corner, This means everything is working and PRIMEVAL EA V2.1 will start to place pending orders.
Good Trades!
To go to download section in the comment area where you will see direct download link, click here PRIMEVAL EA ROBOT V2.1 FREE DOWNLOAD
If you like this post, jump in our subscriptions Forex Trading Currency by filling your email
Disclaimer : Posting this forex robot here for free doesn't mean I am recommending it, I won't give feedback, use it at your own risk, and always try on demo account first.

Things every trader should know

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Three things every trader should know:
1)Know Your Edge
2)Know Your Risk
3)Know Your Self
Know Your Edge
Obtaining a trading strategy or methodology which has produced a consistent stream of profits over time with acceptable drawdowns has to be the best starting point for the trader. Trading is a game of probabilities, so only taking trades which have a better chance of success than failure provides one with an edge mathematically as well as psychologically.
Know Your Risk
Before entering a trade I would want to know exactly how much trading capital I am risking as a percentage of my account balance. Even the best traders and trading systems suffer drawdown periods where a run of losing trades results in a temporary dip in trading equity, so I would want to limit the amount risked on each trade to 2 percent of my trading capital.
Know Your Self
This may sound like an odd one, but a trader’s character really does comes into play during the trading process. It is very easy to enter into a position, but once established one’s objectivity can become clouded as the human tendency to will the market in your favour comes into play. This becomes more of a factor as the amount of capital at Risk increases and the less sure of one’s Edge. Make sure that your trading style fits your personality, and new risk more capital than comfortable with.

The Recipe for Success: High Probability VS High Profit

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When it comes to cooking, there is more than one recipe for making delicious spaghetti sauce. When it comes to trading, the same is true—more than one way exists to design a successful trading strategy.

At one time or another, every trader or investor has been taught that the smart thing to do is maintain a 2-to-1 risk-reward ratio or better. This means that for every $100 risked on a trade, the return should be at least $200. For some traders, this type of money management will work, but for others who have seen at least one of their profitable trades reverse violently and eventually be stopped out, this type of risk-reward ratio is idealistic, not realistic.

In fact, trying to maintain a 2-to-1 risk-reward ratio could be hindering many unprofitable traders from turning profitable. Not many people realize that 1-to-1 risk-reward ratios can still yield positive results in the forex market, as long as one has a high-probability trading strategy.

HIGH PROBABILITY VS. HIGH PROFIT

For a 1-to-1 risk-reward ratio to work, one needs a high-probability trading strategy that is successful at least 65 percent to 70 percent of the time. This is not impossible, especially if the trader is an ultra short-term trader who is only looking to make a small amount of pips. However, in order for it to be net positive, more than half of the trades must be winners. For example, if one plans to risk 20 pips on every currency trade, with a return of only 20 pips, 50 percent of the trades would need to hit their profit targets in order for the trader to break even. Sixty percent of the trades would need to hit their profit targets to make 40 pips. If 70 percent of the trades were winners, then the trader would be up 80 pips on every 10 trades.

Here is an example of a high-probability trading strategy that is loosely based on the momentum strategy in the second edition of my book Day Trading the Currency Market. In this strategy, one is simply looking for the price to break the 20-period simple moving average on a closing basis and for the moving average convergence divergence to confirm the direction of the trade in the last five bars (the strategy uses five-minute charts).

More specifically, if the currency pair closes above the moving average, and MACD has crossed from negative to positive within the last five bars, then one goes long the currency pair. If the price closes below the moving average and MACD has crossed from positive to negative within the last five bars, then one goes short the currency pair. Thirty pips are risked on each trade, for a return of 30 pips.

As shown in the following example of the British pound/U.S. dollar (GBP/USD), four out of the five trades were profitable for a net return of 90 pips and an accuracy rate of...80 percent (see Figure 1):
• No. 1, long GU@1.4914 , TP@1.4944 , resulting in +30 pips.
• No. 2, short GU@1.4925, TP@1.4895, resulting in +30 pips.
• No. 3, long GU@1.493, TP@1.496, resulting in +30 pips.
• No. 4, short GU@1.4915, TP@1.4885, resulting in +30 pips.
• No. 5, long GU@1.4905, SL@1.4875, resulting in -30 pips.

With a high-profit trading strategy on the other hand, the success rate can be far lower as long as the risk-reward ratio is high. If one has a trading strategy that risks 50 pips for a return of 150 pips on every currency trade, that trader would only need to be successful 30 percent of the time to be net positive. In other words, if seven out of 10 trades were losers and three were winners, the net return would still be 100 pips.

A moving average crossover strategy is typically a high-profit but low-probability trading strategy. Figure 2 is an example of a strategy that is based on a 10- and 20-hour simple moving average crossover. In this strategy, a trader goes long the currency pair when the 10-hour SMA crosses above the 20-hour SMA. The trade remains open until the currency pair breaks the 20-hour SMA. For a short trade, the guidelines are reversed. The currency pair is sold when the 10-hour SMA crosses below the 20-hour SMA; the exit rule remains the same.

As seen in the following example of the Australian dollar/U.S. dollar (AUD/USD), four out of the five trades were unprofitable for an accuracy rate of only 20 percent, but the net return was still 25 pips (see Figure 2):






















• Trade No. 1, short AUD/USD: Enter at 0.6465, exit at 0.6485, resulting in -20 pips. 

• Trade No. 2, long AUD/USD: Enter at 0.653, exit at 0.647, resulting in -60 pips.
• Trade No. 3, short AUD/USD: Enter at 0.647, exit at 0.6495, resulting in -25 pips.
• Trade No. 4, long AUD/USD: Enter at 0.652, exit at 0.647, resulting in -50 pips.
• Trade No. 5, short AUD/USD: Enter at 0.638, exit at 0.62, resulting in +180 pips.

The difference between a high-probability and a high-profit trading strategy is that one focuses on small, consistent wins, while the other swings for the fences. Both can yield positive results in their own right, but swinging for the fences is the most common way to trade and may also be the reason many novice traders have a tough time staying alive in the currency market. With a high-profit trade, which is characteristic of picking tops and bottoms, one may need to be able to survive several misses before one hits the big winner.

Unsurprisingly, high-probability trading is usually synonymous with shorter-term trading, while high-profit trading usually applies to longer-term trades.

Of course everyone hopes to find a trading strategy that has both a high probability and high profit, but doing so may be as difficult as finding the holy grail.

TWO-LOT METHOD

One way to increase the probability of winning trades is to follow the two-lot method that I use. In 2008, 80 out of the 103 trades were winners, for an accuracy rate of approximately 78 percent. Each trade always has a short target and a long target, which means that I trade in multiples of two. The first target is usually easily achievable, while the long target is two to three times the risk. I always trail the stop as the trade progresses to lock in profits because my trading motto is never let a winner turn into a loser. The trades are always based on a combination of fundamental and technical analysis.

By trading more than two lots, a trader exposes oneself to double the risk because if his or her stop is 50 pips away from the entry, for example, and he or she is stopped out on two lots, the real loss is 100 pips. This is why it is absolutely necessary to make sure that a trader is confident in his or her high-probability trading strategy. If one is relatively certain that he or she can make 10 pips a day for example, then the trader should stick with that target and just adjust the trading size.

TWO TRADERS, ONE RESULT

The type of trading strategy that one has is just as important as the trade management used. In the currency market, technical analysis is hands down the most popular way to analyze currencies. Both new and seasoned traders will spend the majority of their time looking at chart patterns, drawing Fibonacci levels, counting Elliott waves or creating their own combination of indicators with the ultimate goal of developing a trading strategy that gives the perfect entry signal.

Based on my experience, however, the exit is just as important as the entry. A few years ago, I remember talking to Rob Booker, a fellow currency trader, about the importance of entries and exits and which is more important. Booker told me that posing that question was like asking a pilot which is more important: the take off or landing. I am sure that almost anyone who has ever been on a plane would agree that both are important. That is why every single one of my trading strategies uses the two-lot method.

While working at JPMorgan Chase, I once traded alongside two extremely talented FX traders. They went long and short the EUR/USD at the same time and, interestingly enough, both ended up making money. The trader who went long euros traded off of five-minute charts and held his position for no more than 20 minutes, while the trader who went short euros traded from one-hour charts and held his position for four hours. The reason both traders were able to make money, even though they had conflicting positions, is because of trade management.

I strongly believe that the management of the trade is critical to successful trading, regardless of whether one practices high-probability or high-profit trading. Traders often lament the many times they should have locked in profits or moved their stops.

As in cooking, there is always more than one recipe for trading success, and if traders are frustrated with trying to adhere to a 2-to-1 risk-reward ratio, high-probability trading may be a better method for them.

If you like this post, jump in our subscriptions Forex Trading Currency by filling your email
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Author Kathy Lien is an internationally published author and the director of currency research at FX360.com and GFT Forex. The second edition of her book Day Trading and Swing Trading the Currency Market was released in Dec 2008.

FREE DOWNLOAD FOREX DETECTOR ROBOT

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This is an automated forex robot or expert advisor for Meta trader 4 forex platform, it's Forex Detector, a commercial software, originally sold at forexdetector.com for 134$ but here you can download and use it for free, don't worry because it doesn't require any verify or authentic process, you can use it on as many accounts as you want. After you download the zip file and decompress it, you will see 2 files, ForexDetector.ex4 and a Pdf Instruction Manual, then follow guideline inside to set up.

Please note that this software only works Meta Trader only, if you haven't had one, you can download a free demo account.
Disclaimer : Posting this forex robot here for free doesn't mean I am recommending it, I won't give feedback, use it at your own risk, and always try on demo account first.
Click this link FREE DOWNLOAD FOREX DETECTOR ROBOT then scroll down to the comment section where you will see the direct download link.

To receive further similar free download, jump in our subscriptions Forex Trading Currency by filling your email
and get another Market Watch indicator bonus instantly at the bottom of the confirmation email !

Engulfing Candlestick Chart confirmed by RSI Indicators

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FX instructor Richard Krivo has nicely identified how indicator RSI supported by a Engulfing Candlestick pattern can increase the successful probability of your trade.
The rule is simple: For Short Trade, wait until the RSI is above 70 zone and then look for a bearish engulfing candle to close with the RSI closing out of that overbought zone, and/or RSI establishing lower high. Apply conversely for Long Trade.
Look at the screenshot I just prepared today 24 Sept 2010, you will understand, clear and simple. Today we have a good set up to enter Short EurGbp, Elliot Wave Theory support this trade as well, the pink arrows indicate we are going into the final Wave (5th Wave) with target is somewhere around 0.75
(Click on the picture to zoom in)
Screenshot taken on 24 Sept 2010, a good set up to enter Short Sell EurGbp

 ... and why am I picking this 0.75 target, look at the AB=CD rule on  decending triangle on weekly set up on the left,... AB=CD pattern is one among Harmonic Patterns which is used widely in Technical analysis nowadays due to it's high successful rate. For a historical rate statistic, read the Best Harmonic Pattern.
If you like this post, subscribe to my blog to receive further news as well as free indicators/robot instantly, feel free to leave a comment if you have idea/enquiry.

Great MetaTrader Signal System No Repaint

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This signal system works best on main pairs with 1H and longer timeframe, no repaint, easy to use, just follow the arrow direction and confirm with the lower filter indicator, Blue for going up trend, Red for going down, look at the screenshot below for an insight. There will be indicator files and 1 template file, all you need to do after download the files is: put the indicator files into indicator folder and the template file into template folder in your installed meta trader folder, then open any chart, right click on the chart and select template --> trendsignal template, your screen will look exactly like below, then your part is follow the signal and collect money, it doesn't repaint and work precisely !
Instant download, only 37$, forever usage, accept Paypal and all credit card
Option
Lastest update version: Jul 2016. Any question, please email me : forex3747@gmail.com
EURUSD, 4H timeframe, screen taken on 10 Aug 2010, lastest trade is short sell and profitable 
Second template, the same working mechanism, but different appearance :

EURJPY chart, daily timframe, taken on 23 Oct 2012, all are profitable
Option
Lastest update version: Jul 2016. Any question, please email me : forex3747@gmail.com

Best Harmonic Chart Pattern Crab

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Please kindly be informed that this is not  Butterfly, Gartley, Bat Patterns although it  looks similar. The Crab is a Harmonic pattern  discovered by Scott Carney in 2000. It is one  of the most precise of all the Harmonic  patterns. Check out this study summary, it  was conducted on 15+M timeframe and  include both bullish and bearish patterns. The  Harmonic Chart Pattern Crab is the only one  which has over 93% of accuracy which is  really great, thing is you need to pay  attention to its Fibonacci ratios to distinguish  it with other Harmony Chart Patterns.
The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg. The pattern requires a very small stop loss and usually provides an almost exact reversal in the Potential Reversal Zone.

 The Fibonacci levels to be applied in Harmonic Chart Pattern Crab :

Crab Ratios
0.382/0.382/1.618
0.382/0.382/2.000
0.382/0.382/2.240
0.382/0.382/2.618
0.382/0.382/3.140
0.382/0.382/3.618
0.382/0.447/1.618
0.382/0.447/2.000
0.382/0.447/2.240
0.382/0.447/2.618
0.382/0.447/3.140
0.382/0.447/3.618
0.382/0.500/1.618
0.382/0.500/2.000
0.382/0.500/2.240
0.382/0.500/2.618
0.382/0.500/3.140
0.382/0.500/3.618
0.382/0.618/1.618
0.382/0.618/2.000
0.382/0.618/2.240
0.382/0.618/2.618
0.382/0.618/3.140
0.382/0.618/3.618
0.382/0.707/1.618
0.382/0.707/2.000
Crab Ratios
0.382/0.707/2.240
0.382/0.707/2.618
0.382/0.707/3.140
0.382/0.707/3.618
0.382/0.786/1.618
0.382/0.786/2.000
0.382/0.786/2.240
0.382/0.786/2.618
0.382/0.786/3.140
0.382/0.786/3.618
0.382/0.886/1.618
0.382/0.886/2.000
0.382/0.886/2.240
0.382/0.886/2.618
0.382/0.886/3.140
0.382/0.886/3.618
0.447/0.382/1.618
0.447/0.382/2.000
0.447/0.382/2.240
0.447/0.382/2.618
0.447/0.382/3.140
0.447/0.382/3.618
0.447/0.447/1.618
0.447/0.447/2.000
0.447/0.447/2.240
0.447/0.707/2.240
 Crab Ratios                              
0.500/0.382/3.618
0.500/0.447/3.618
0.500/0.500/3.618
0.500/0.618/3.618
0.500/0.707/3.618
0.500/0.786/3.140
0.500/0.786/3.618
0.500/0.886/3.140
0.500/0.886/3.618
0.618/0.382/3.618
0.618/0.447/3.618
0.618/0.500/3.140
0.618/0.707/3.140
0.618/0.707/3.618
0.618/0.786/2.618
0.618/0.786/3.140
0.618/0.786/3.618
0.618/0.886/2.240
0.618/0.886/2.618
0.618/0.886/3.140
0.886/0.382/2.618
0.886/0.382/3.140
0.886/0.382/3.618
0.886/0.447/2.240
0.886/0.447/2.618
0.886/0.447/3.140



Example : Bullish Harmonic Chart Pattern Crab EUR/JPY, 15 min

Example : Bearish Harmonic Chart Pattern Crab EUR/GBP, 15 min
The good point here is you don't have to wait and check for the pattern, it is really time consuming. With the power of technology, we can have the computer do it, it will tell us what the pattern is and draw it out, you can buy such Harmonic pattern indicator for a cheap price.

GBPJPY GBPUSD Breakout Strategies

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GBP/JPY Breakout
• Trade frequency: Daily
• Pair: GBP/JPY
• Timeframe: 15 minutes

Find the opening price of the pair which will  be the price at 12:00am GMT.
Find out the range of the previous day, if  range is below 200 pips, do not trad.
Place a buy stop order 30 pips above the  high of the 12:00 GMT candle and a sell stop  order 30 pips below the low.
Take profit is 25% of the previous days range  or maximum 100 pips. Stop Loss is 40 pips.
Trailing stop loss is 50% of the Take Profit. Close opposite order once an order has been filled.

GBP/USD Breakout
• Trade frequency: Daily
• Pair: GBP/USD
• Timeframe: 15 minutes
 
Find the high and low between 14:00 GMT and 16:00 GMT.
Buy Stop order 3 pips above high, Sell Stop order 3 pips below low.
Take profit 50 pips. Stop Loss 5 pips above and below high and low.
Close opposite order once an order has been filled.

How To Become an Indepentdent Trader in 20 minutes

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1 Trick To Forex Trading Riches? I used to  lose money hand over fist until I discovered  this 1 weird, old trick. Watch Bill Poulos and  his son Greg presentation here.
The Forex trading video on this page will  show you how they discovered why you're  still losing money in the Forex market, how to  finally become an independent trader. You'll  be pleased to know this isn't any type of  gimmick... these are REAL techniques based  on 35+ years of trading experience. You're  going to want to watch the entire video to  see exactly how I made this discovery, how  thousands have now become independent  Forex traders, how you can do the same by simply copying me. Don't forget! Watch the entire video, because you will be surprised!
Discover Their 1 Tip Of A Forex Winner In This "Weird" Video Below...
(Make sure your sound is turned on! Please wait up to 10 seconds for the video to load)




Completed Course = Ebook + Video + Presentation that has helped thousands of people all over the world finally achieve FREEDOM in as little as 20 minutes a day. Go through the course and apply what you learn to the Forex markets. See how you feel more confident every time you trade. No matter what happens in the markets, you always know what to do. Every single time. There's no more second-guessing. Finally feel what it's like to trade as an independent trader. Buy Forex Courses now !

NFP Non Farm Payrolls News Strategy

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With US Non-Farm Payrolls, pre-release price action for EUR/USD has been choppy as one would expect. Typically this key data release produces a substantial increase in volatility as fundamentally driven traders who are either lightly positioned or have not yet committed to the market jump in after the data release at 14.30 CET. 
Using EUR/USD as my trading vehicle, I believe that the best way to approach these ‘big news’ days is to wait until after the release of the data rather than taking a position and holding it over the release. What often happens is once the data is released markets often see a knee-jerk reaction as fundamentally-driven traders take a position, particularly if the number is significantly stronger or weaker than the market consensus. However, perversely as it may seem, the markets have a habit of seeing a very powerful movement in the OPPOSITE direction to the initial post-release movement, much to the frustration of those who have taken a position based on the data.  To take advantage of just such a move, I like to follow this three step process.
1) Just prior to the release, I record the price of EUR/USD. This point will be known as the ‘news origin price’ and will be my entry price should the market generate a ‘significant’ movement after the release.   
2) I then calculate price levels which if hit would constitute a ‘significant’ movement due to the news which would tell me that new money is being committed to the market. I would say that any movement which sees the expansion of the global session range by at least 50% is ‘significant’, particularly if it also breaches the yesterday’s high or low in the process.  
3) I then wait for the release. If any of the threshold levels outlined above are hit (give or take a few pips) I will look to enter a position in the opposite direction if and only IF the ‘news origin price’ is seen again during the global session. If the market returns to this level having made a ‘significant’ post-release move outlined above, then all of the news-driven traders will suddenly find themselves underwater and it is they who will chase the price higher or lower in stop-loss related buying or selling. If the trade is triggered, I will place a protective stop-loss the other side of the day’s range so far looking to trail it as the trade (hopefully) moves into profit.
As to targets, this naturally depends on one’s timeframe but I would stress that a move of this nature is often good for a 2 to 1 or 3 to 1 reward to risk ratio, if not by the U.S. close then certainly over subsequent days. If the trade is triggered today, I will look to exit at 3 separate levels (PT1, PT2, and PT3) which I will provide if the trade is triggered. If the first profit target (PT1) is hit, I will move I will my stop to breakeven, presenting a near risk-free trade. I hold the trade until either the stop level is hit all of the profit objectives are met, or at 21.00 GMT on Wednesday.
 

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