Your Name (required)
Your Email (required)
Hi Chad and Sterling,
Last year you mentioned a piece of software that could be used on MT4 for backtesting.
Would you please refresh my memory on this.
The software is the Forex Tester program, however it doesnt go on Mt4. There are a few out there you can search for but I dont recall the names of them. Sorry if this dont help.
Just note that the Trading Pub Ebook(6 Simple Stratergies) contains step 1 of the confirmation twice, without step 2.
Deciding to join – is an MT4 platform suitable to the strategies you use?
Yes we also use MT4 and recommend that members use it because all our indicators are made using the MT4 platform. What you should consider is using a demo from a broker with the right start of day at 5pm EST and all our indis drop on easily. Otherwise any broker that has a Sunday candle throws some of them off and are less accurate. Having said that we dont really use them to indicate entry but are more for showing who we are trading with while others help to determine where the banks are likely to push price.
I have a some questions? If it’s Okay with you. I’ll Love to see you in action on a Live stream. Do I have to pay? The Indicators you have on the Meta Trader 4 chart. What are the names? Lastly, Do you give Trading signal? Thanks,
Yes you have to be a member to get in the live training sessions. We do not consider our selves to be a signal service but we are happy to share entries we take during the live sessions. Otherwise we do have a member chat that members can discuss entries when the live rooms are closed.
Yes the indicators we use are on MT4 and were developed by members over the years. Most are modified versions of existing indicators showing previous daily highs/lows, an average daily range and Isessions that shows who we are trading with at any given time of day.
Thanks Chad Tell for your fast reply. I had some what a idea on what indicators you were using however I wasn’t sure if they were modify. I have all those indicators in place to start trading with you soon. I jest brought a trading computer with two wide screen monitors and super fast desktop computer. I also design a Money Management Robot with Recovery function coded in case the market goes another direction. This will recover my losing trading by adding another trade in the opposite direction with a high lot size. It’s like hedging strategy by only used when the trade doesn’t go your way. No stop Loss are included, only two take profit on both side on both trades. This will box the market and recover your losses. Do you believe this will for your Bank Strategy?
We have never been fans of hedging strategies. They are problematic in spot Forex because adding a position the other direction effectively realizes the loss anyway and there is the problem of knowing when to exit the hedge. Im sure there are some effective hedging strategies out there but they are usually done using options rather than entering spot in the other direction.
Hello, how do you think about trading in the 1min timeframe?
I personally think the 1M chart is way to fast for the forex market. If you are trading a different trading strategy then I’m sure someone does it profitable but trading market manipulation requires a longer time frame. The only exception to this is in the equity market. I trade market manipulation in equities on the 1M and 2M time frame chart.
I learnt a lot from 2015 May Trade Analysis & Results – Learn To Day Trade – thank you.
Really glad the video helped!
I am very interested in joining DTFL, I am a beginner and was wondering if this course is suitable for a newbie? I do love the idea of the live trading rooms but understand that I would need to get up to speed before fully benefitting. you do have the course recorded accessible on your member section and it is beginner-ish friendly? Hope to join next week, I’m not too late am I is the format still as described in your buy it now section? Sorry for the essay and hope to hear from you soon. Irfan 🙂
Yes the course is very suitable for those who are new to the forex market. In fact I think those who are new to the forex market do better with our trading strategy vs those with years of experience. The reason I say that it it’s often harder to get people to break old habits then it is to teach new ones. Hope this helps.
Hi Guys, I just bought the membership.how long does it take to activate ?
We approve all accounts manually. If you sign up between 2-8AM Eastern then your account will not be opened until at least 8AM. The majority of the time all accounts are opened within an hour or less. Welcome to the group BTW.