Fuck. Nothing makes money in forex. Stop it.
the tile of this thread reminds us that Mohd Ridzuan traded for FOUR years without ANY success, before he finally discovered this system/strategy as his holy grail
furthermore, Mohd Ridzuan insists on one of his posts {with real account earnings proof} that this strategy has NEVER failed him and is YET to fail him
so please do NOT lose hope
the CORE of this strategy is to observe and verify these golden BUY and SELL zones. in fact, these are just Fibonacci levels calculated/drawn over the past 2200 candles to determine the Highest Level (as a band) and the Lowest Level during those preceding 2200 candles
"as a band" means the level is shown as a THICK line rather than a specific / thin / atomic line, so the level (Buy or Sell level) is shown as a "Zone" (band)
i blew $500 with this strategy because i did Not have the patience to TEST and APPLY all the various filter-indicators BEFORE my entry
but i just realized that this strategy is a BEAST and a KILLER of a strategy once you realize how AMAZING these BUY and SELL Fibonacci zones are !!
my favorite filter-indicator currently is the Aroon Oscillator, but i also HIGHLY-recommend Sticky7's favorite indicator = MACDScalper, but i am able to switch between and check almost ALL the filter-indicators at the click of a button by simply changing/switching from one template to another !
i have collected ALL the various filter-indicators and shared them in my various posts where i have been sharing and updating my Indicator Collection Pack
i have also discovered that this strategy can be traded over SHORTER timeframes as a scalping strategy by reducing the
Fib_Period setting
in the
AutoFibo Trading Zones_1
indicator
from 2250
to 264
on an H1 chart
basically this tells the indicator {AutoFibo Trading Zones_1} to look back on the past TWO weeks of activity on the chart instead of looking back over the past 94 days of activity on the chart (original setting = 2250 on H1) ! reducing the Fib_Period obviously causes the indicator to re-draw the Buy zone and Sell zone ONLY for the past TWO weeks of activity on the chart and these seem to be EXTREMELY RELIABLE Buy and Sell zones for a scalping, small account or high-frequency trading style.
the use of Filter-Indicators as a FINAL confirmation of ENTRY is still VERY IMPORTANT and SHOULD NOT be overlooked even if you are trading smaller timeframes as a scalper, small account or high-frequency trading style (that was MY biggest mistake
!!)
so please do NOT lose hope, and do NOT under-estimate or overlook the potential in this strategy
