After three years of trying to understand the Forex market it has all come down to this. I have tried to understand what makes the market move, I have read numerous books, I have researched many websites, I have tried multiple trading platforms. Some platforms have worked great, while others kept me wondering what I was getting for my money.
I started with forex.com. They have redone their website and updated the charting a few times since I have started using them, I still use the website daily for knowledgeable information and market trends that may have missed on other sites. While keeping this site available I also tried tradestation platform in conjunction with forex.com. While using tradestation I also had another full time job that used most of my time and pulled me away from trading and all the alerts I had set up for tradestation. The big hitch is that in order to keep tradestation for free I had to trade 10 full turn round lots a calendar moth to remain free, otherwise face a $99 fee for data feed.
I then started looking for other alternatives for charting and strategy testing and developing for the Forex market that I could not get from forex.com. I stumbled across metatrader, and metatrader 4. I absolutely love this platform and have finally mastered the system after months of back and forward testing personally developed strategies and indicators. My personal favorite which has now brought me huge profits I will post here later. But the best part of metatrader 4 is that it is free, free to download, free to use, free to test, and free if you take a month off (August is a great month to take off due to low volume and high volatility). My entire goal in working so hard in the forex market is understand the most powerful financial market in the world and use that knowledge to my advantage and make large profits if not a living in trading forex.
After 3 months of developing and testing I have created what I believe the best forex market tool for trading, and the best part about it is that it takes the hours spent reading charts and graphs out of the equation and gives you more time to concentrate on trends and possible reversals. (that is where forex.com research comes in.) It litterally gives you buy and sell signals in which to trade and has provided me with 3 months of huge profits. I did 2 months of live testing with fake money with live market conditions with this strategy and turned $5000 into $10,249.69. I then turned real money, $3000 into $6,179.10 in 30 days.
There is so much to learn about the forex market, when data news is about to be released, what may or may not affect the market, and when you should or shouldn't trade. I am currently holding down a full time job during the day and trading the forex at night as a second job until I perfect the strategy. I have so much to share and a perfectly perfected strategy to share but may need some testing during the day to see how it works in New York market conditions. If you are interested respond to brenttsm@yahoo.com and I will send you the indicator I have personally developed for metatrader 4 and I would love your feedback on the results. Please have metattrder 4 installed before replying, a knowledge of the basic forex market background would be beneficial. As always, I will never trade major market moving data and look at fibonacci levels as entrance and exit points.
I will update my progress weekly from here on out and look forward to the future.
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