Live: Time to be Flexible

by | Feb 15, 2023 | Forex Analysis

Flexible

Hi everyone,

In today’s live webinar, we discussed all the possible options we can use in the current markets to catch some very profitable trades. The market has been very choppy lately which means it’s taking longer than usual for price to get to our entries. That can be weeks or months.

Time to change

Therefore we need to change our strategy and adapt to the market. I showed you how I caught the EURNZD using a split entry. Only one of the orders got filled, around 130 pips in profit, when we were in the live webinar. I then showed you all how I managed the trade and also took 75% profit leaving the trade to run. You can watch the webinar to see where I moved my stop, etc.

Now, what if you were working or busy out shopping while this trade got to your first TP area and you didn’t have the time to manage it? What if it already started moving back in the opposite direction hitting the TP target and you missed closing the trade as you hadn’t set it. This is part of the problem with trading. You could be getting very good entries but once you are in the trade the psychology or our busy lives can affect the trades. This in fact can affect our results.

The VTC

For these particular reasons, I have recommended most of my private students the Visual Trading Console

I made a post on this a few weeks back on how this can help you massively in your trading. It only has a small one-time fee which could assist you in your trading career and help you become a profitable trader. Think of it as an investment.

*This post is currently available only to members

Improve Your Results by Semi-Automating Your Trades?

Here is a review from one of our own members Udo who started using it a few weeks back and it’s already making a difference.

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Hello folks!

I had written 2 weeks ago that I would test the Visual Trading Console. Since I think it only makes sense on a VPS, I signed up for a one-month subscription with the provider cheap-forex-vps, that marc mentioned, (the basic version) to try it out.

Here is my interim result:

The setup of the VPS is uncomplicated and quickly done. I did not use the pre-installed MT4 version (but that would not have been a problem) but I used the MT4 installations of my brokers. No problems at all during the installation.
Then I installed the Visual Trading Console and again no problems at all.
The handling on the VPS is not as fast as I am used to from my own PC but it is absolutely sufficient for our purposes.

Just this morning I saw again how useful these tools are:
I had opened a NZD JPY E&S short trade. Entry was at the WPV 83.51, SL behind the ema’s and the 61.8 fib. TP at WS1 82.34. In the Visual Trading Console I had set a first TP of 75% at 82.595.
What happened this morning? I went shopping and during this time NZD JPY shot down sharply for a short time and then back again. My first TP was triggered while I was running around the mall. Without using the Visual Trading Console, the trade would have slipped through my fingers.
So my conclusion: The (small) purchase of the Visual Trading Console and a VPS is definitely worth it!

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Don’t Forget the M3 strategy

In 2020, we saw markets quite similar to what we have right now. I created the M3 strategy which is a mixture of both the M2 and E&S. Before you start using it make sure you are familiar with M2 and E&S otherwise you won’t have a clue what you are doing. It’s a rule-based system and therefore follow the rules or lose your shirt!

I haven’t used it for a while and therefore briefly explained it. But I showed you how you could also use this strategy which is available to find day trades in the market on shorter timeframes. Remember! always start by looking at the big picture.

You can find the M3 course in our education section under Day trading systems or click the link below: (You need to be a member to access this course)

M3 system 

Being flexible

Ashley then ended the webinar by sharing his areas of interest on the shorter timeframes. Some of these setups actually looked very good even on the very volatile pairs. He combines the M2, Earth & Sky, and a bit of his own experience to find these setups. He is very active in the forum along with other experienced traders and members. So make sure to participate and share any ideas or thoughts that you might have.

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You can find the full webinar recording below

Kind regards,

Marc

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