As traders our trading mindset is the most important piece of the puzzle. However, the strategy or system that we use to trade with can and does have a profound effect on our trading mindset. So, when we try trading with 10 different indicators on our charts, we get confused, conflicted, and frustrated and once this happens it’s only a matter time before these feelings result in impulsive and emotional trading. So, we can see that our mindset is perhaps the key to success in the markets, but because our trading strategy influences our trading mindset heavily, it too is very important.
The next time you want to put an indicator on your chart ask “do I really need this”? Is this really going to help me?. ’DO I REALLY NEED THIS?”….we want to only trade with what we need …..How to incorporate minimalism into your trading routine (and everyday life)

• Ditch the forex indicators and trading robots and start over with a totally clean price chart. This act alone will do a lot to calm your nerves and your mind while analyzing the markets.

• Learn to trade with simple price action strategies. After you ditch the indicators you will need to learn how to trade off the raw price action of the market. Whilst this might seem different to you at first, I can promise you it’s a lot easier and makes a lot more sense than whatever messy method you were trading with before.

• After you learn to trade with price action, understand that you don’t have to spend a lot of time analyzing the markets each day. You can learn to trade in an end of day manner and fit trading in around your day job.

• Forget about trying to analyze 20 different markets each day. Minimize the markets you trade and this will work to sharpen your focus on the handful that you like the best. I focus on the major forex currency pairs and a few other markets like oil, gold, and the Dow.

• Don’t worry about multiple monitor setups, fancy trading desks, extremely expensive computers, monthly data feed subscriptions, or any of these other ‘luxury’ trading office items. Truth is, you don’t NEED them. They are nice things to have if you can truly afford them, but you really don’t need them to trade successfully. I can afford these things but I don’t have them anymore because I realized they were contributing to feelings of greed and materialism, and most of all I realized I just didn’t need them.

• One of the things I also did was got a P.O. box for my mail. This might seem like a small thing, but it’s all about downsizing and consolidating, and each little thing you downsize or get rid of adds up. Now, I only collect my mail once a week, this saves time and it changes the ‘process’ of your life…I took a minimalist approach to getting my mail, this freed up time and energy each day to devote to other more important things, even if it was a small amount of time each day.

• Make sure your trading room or trading location is clean and simple. Whether it’s in your home or from the local Starbucks, make your surroundings minimal. You don’t need 50 trading books sitting around, instead, pick your favorite 3 and keep them with you (hopefully one of those is my book . If you have to, put all the ‘junk’ that you really don’t need in a storage unit, I did that, and it really makes you realize that you don’t need the majority of the things you thought you did.

People like to hoard things; they hoard possessions, money, collectables, you name it. It’s a fact that when most people get a pay raise they simply tend to buy more things (crap) that they really don’t need, thus keeping them stuck in a perpetual cycle of consumerism and materialism. I am telling you that you do not need to live this way. You don’t have to be a slave to debt anymore, and you don’t have to try and keep up with the “Joneses”…who cares about the Joneses, they aren’t that interesting anyway.

You see, there’s a common thread between minimalism as a lifestyle choice, a trading choice, and happiness and success. That thread consists of the fact that material items do not bring you happiness, trading success is not the result of having lots of indicators and fancy office equipment, and success is more easily attainable with a clutter-free and streamlined lifestyle. Have you ever seen that show “Hoarders” on A&E? If you have seen it, you would agree that possessions don’t make you successful or happy. Materialism is a real addiction, buying things satisfies some primitive urge that we need to feel secure. This is very similar to why traders get addicted and dependent on indicators, reading economic reports, trading robots, and you name it. We tend to overlook the most obvious things in life, such as the fact that happiness is readily available for free by just spending time with loved ones, or that the raw and unobstructed price action of a market provides us with all the technical clues we need to develop an effective trading strategy.

From here, you need to take the next step and decide if you are living a cluttered life, and if so, how can you de-clutter it? Similarly, you need to take a look at your trading approach and decide if it’s simple, logical, and effective or full of clutter and confusion. If you want to de-clutter your approach to trading, I suggest checkout my price action trading course and see just how much taking a minimalist approach to your trading will improve your overall trading results.

best regards
Ayman Khlifat
Forex ,Commodities & Indices Trader
Twitter : https://twitter.com/aymankkhlifat

Hi Guys,

I'm was like one of those impulsive traders, and in my hands i've blown more than 15,000 USD. I don't know how to say this but it was really foolish. I've never given up and thats why Im still here. So, what I have done recently, is restructure my trading strategy and actually applied the basics (technical analysis, from the monthly chart, to weekly, Daily and then move to 4hr and 1hr for prices). I've also fit in a few basics like EMA Crosses, Fibo, Trends and Ichimoku for my entry prices.

The actual difference here is that i really paid attention to my risk. and modified my trading strategies based on it. Since i've already blown so much money. This time im only going in with 500USD. The goal that i set for myself is very simple. It is to increase my equity by 10% each week. and i decided to test it on a demo account first before moving to my real account. So, I would like you guys to comment on my performance and hope to learn something new from you guys.

https://www.myfxbook.com/portfolio/benjamin-yeo/1046279

Cheers,

Ben😄

The move off of the the May 13th low in this pair counts best as the bottom of a large degree wave 4. The rally that we saw from that low into the August 3rd high then counts as a very complete 3 waves structure to the upside. Elliott Wave 5th waves must always be five waves and since we only have 3 waves complete so far the pattern is suggesting that we still have one more large degree rally to complete the pattern off of the May 13th low. Now with that being said the fourth wave correction that we have seen ideally still does see lower levels before we are ready to start moving higher again for the wave ((v)) up.

Support levels for the bottom of wave ((iv)) come in at 1.2956 - 1.2770 which is shown in the blue box on the chart, this is our buy zone. The initial target for our wave ((v)) higher comes in at the 1.3414 level which should occur sometime in the later part of this year. Now as long as we hold the lower end of this support zone of 1.2770 then the probabilities that we see those higher levels remain high. Should this lower level support break then it decreases the odds that we will continue higher but will not have invalidated the count until we break below 1.2560. Should we break down below 1.2560 then it would technically invalidate this count for higher levels as the wave ((iv)) would have crossed into the territory of wave ((i)). This is not valid in an Elliott Wave impulsive structure so this 1.2560 level is the level that we know this trade did not work and would stop out.

Also of note is that there is a valid alternative count in this pair that suggests we see higher levels directly from here however due to the wave structure of the move of of the August 12th low at this point it is a low probability. If the market takes this path it does not affect our trade setup as we are still awaiting lower levels to enter long and entering long from current levels (playing for the alternate count) does not provide a Risk to Reward level that makes for a very attractive trade. This alternate count is shown in yellow on the chart.

AUDJPY may drop impulsively soon.

Another pair that maybe affected by US election is the AUDJPY, which is well known to respond wildly to risk sentiment. That is, AUDJPY tend to rise when risk-on, or tend to drop when risk-off.

Looking at the daily chart, the price is still bound by a long term downward trend line (in red color), and is very close to the upper boundary, which leads me to think that a drop may come soon.

I'll be watching this pair next week to see if there's any short opportunity.

NZDCAD may drop impulsively in the coming up days and weeks.

CHFJPY reached very strong supply zone on H4 and D1 @111.76

H1 chart shows 3 continuous peaks with negative divergence in Mumintum indicators RSI & MACD

RSI finally dropped off from oversold area

all the past bullish impulsive wave not supported with high volume , price should visit HVN area again


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also don't forget this fraud ....

1) open 2x $10 accounts and hide it in fxbook
2) one account trades longs and the other shorts
3) the winning account gets published on fxbook

still time shows everything ... the account owner doesn't seem to be in a hurry so it might
show a positive sign ... of course there will be some trigger impulsive dudes that are probably ready to wire the money right now :)

however I will always have time for 50x gain (25x gain since equity is ~50%) in a few days/weeks/months ...
I should have many years of trading ahead of me to prove anything ...

14 Jan'11 : Switching to Rebel Martin.

Same trade trigger with demo bio cold fusion. The price seem falling and ranging after a big impulsive up.

It trigger buy logic, to be save, close all trade and move on to test Rebel Martin.

It's a 24h/24h tick-by-tick multi-currency impulsive scanner, it acts like a scanner but there's an internal traling-stop engine able to follow trends. Trades are triggered by big price movements (usually but not necessarily on big news release).

At the moment the system works on a real account but it's still on 'beta' testing.

Stay tuned to check further performances.

😀

   fxsuper posted:
   You forgot NMI Scalper.... 😉
In my opinion these impulsive scalpers will be good only on paper trading because they trade in most volatility period when any broker protect itself with 'unconventional methods'....Especially if these robots become very popular.

Completely agree. Currently it's very, very hard to find a setup that works for MDP and I imagine the same goes for the others.

You forgot NMI Scalper.... 😉
In my opinion these impulsive scalpers will be good only on paper trading because they trade in most volatility period when any broker protect itself with 'unconventional methods'....Especially if these robots become very popular.

Alas, my emotions got the best of me and I made some impulsive decisions that took me off the leader board. Best of luck to the remaining leaders of the competition.

up and down,mstill tokk big risk. up 0.2 % for aday which is not good.must reduce risk and stop getting too impulsive

My trading day was a lot easier today due to the fact that I actually had signals from my system. I don't mind trading support and resistance areas but I feel more comfortable when my strategy stops fooling me.

Got a clear signal at 1.4217 and the trade was good for 45 pips with zero draw down 😁 I just love this kind of trades!

At 4170 I went long based on the last support . The trade once reached +41 pips but I got greedy(i guess) and saw it coming back against me, than i became stubborn and saw my SL of -20 be hit. After forcing me out of position the market exploded up and like yesterday I was really tempted to jump in impulsive trades as price kept climbing. Thankfully I didn't.

My discipline payed off. I saw price hit the Asian's high almost to the pip and turn back. I took the trade with a -10 pip SL closed prematurely for +25 but at least I got back my loss of the day and some more.

I have to stop trading right now because of my remodeling project. My week is looking good I'm already beyond my weekly goal which means that I can switch to super picky mode from now on and just take the A+ set ups.

Have work to do, see you guys tomorrow.

I was leaking my wounds and thinking about my losses today. What a shame the pair moved 270 plus pips and i managed not to get anything of it! On top of that I had one of the biggest losses in a while -40 pips, ouch!

Looking back and analyzing the charts I still don't see how i could have done it better😕!I played my game did my thing and it just did not work today.

The good news is that in days like this I use to make a killing or get bust really bad meaning a outcome more related to gambling than trading. I would venture to say that I'm 'kinda' happy because i did not get myself in impulsive trades. I did lose pips today but nothing terrible. My charts lied to me, i positioned myself on the wrong side of the market but I also kept my discipline and traded my strategy.

I don't have the holy grail and I will make mistakes. Looking better I'm 'kinda' happy 😀

It is still Monday and I have big possibilities of making up for my losses. It hurts but I'm still alive financially and I can trade another day.

See you guys tomorrow and tomorrow is another day.

   JamesLee posted:

Well buying an Ea of 99$ is not stupid, because it is not expensive :)

Maybe for you, a lot of other people could fine 99$ an expensive price.
What is expensive for your could not be expensive for another person... and viceversa.

 It worth to try, some more it is also refund guaranteed. By now if you look at the MDP result found in Myfxbook there are many people making profits from there, real results are solid proven, why are we still arguing about official report?

Because the absence of an official report shows that there's something illogic behind the curtain.
Why the owner itself, the developers, do not trust its own product avoid using it on real and certified accounts and only use on a demo, where it is clearly demostrated that an impulsive strategy is always winning?

There are few benefits here, now MDP are making tons of moneys from their reasonable price, i'll probably will purchase another one :). They do not worry of hackers, because many people afford to buy it why should they take the risk to get the pirated version?

Just ignore this thread then. Do not use the EA and all will be fine!

Good luck with your scalping!

@Zyrt,

1) If you have 2500$ and you like the scalper, and you trust that these results are REAL and not a combine between us and the broker... you can try to do the same.

We can't grant anything BUT I set 15 accounts to 15 friends and ALL they earned money, somebody earned more, other less... but every time NO worth the expense (200€).

In one month more or less a 1000€ account earned enough to reach a breakeven... and this is a fact.
They are risks in doing that... of course.. we can promise anything and people must accept the risk of trading BEFORE start trading (even before buying the EA) and not in while trading.
A lot of reckless users change the money management (reduce) after a loss... not allow the EA to recover with the next successful trades just because they're 'scared' of losses...

But if you check NO reports you will see DD periods even 20% of DD... but what you can expect by trading with 3 lots and 3000€?

Profits are NOT eaten by commission... commissions made profits reachable because NOT a single broker without commission will allow a similar scalping idea... even broker with commissions should be contacted and made aware if they allow or not this kind of scalping...

Show me a broker without commission where NO scalping works and I will be happy to promote it between our users FOR FREE.

2) People on ILQ are using one of the BEST feed in the forex market, they're even using other EA and trading manually because the feed is simply excellent. Commission of 7$ FLAT per lot (instead of 10$ of FxPrimus) are excellent and completely in-line with the market. I really don't see where is the problem.

3) We made an error with VG releasing the IB link BEFORE everything was completely SET and done.
We spent over 1000€ for a 3 days trip directly to Hamburg to meet VG people and after the negotiations everything is in their hands.
We are NOT introducing people to VG, we deleted the IB link, we alerted the people who signed the VG contract in the meanwhile to do NOT trade and do NOT send funds until VG do not clearly properly set the server... again... we made an error, we repaired it... where is the problem?

4) Because a LOT of people complained about IB only. You want a full, you feel smarter than us (an you probably are, why not) to have the BEST broker? You wanna do your rebate business? Buy the FULL and do what you want.
Customers are alerted BEFORE buying (not after) about FULL licence feature.

5) Of course we agree, we write it in the first line of our selling page:

'NumberOne is an “extreme” impulsive scalper.
It trades on price impulse retracement that very often happens after a strong, impulsive, market movement. It’s a counter-trend scalper that send a stop order and moves them near the price.
This strategy needs a very high order execution quality.'

We call the ea 'EXTREME IMPULSIVE SCALPER' we offer over 6 months of multiple real statement on FxPrimus when usually people shows only DEMO account or real with 0.01 lots (LOL).

Issues with FxPrimus are caused ONLY by FxPrimus who canged the trading parameter, LMAX is DELETED from our IB list.. other broker simply do not welcome this scalping strategy (because they can make enough profit or they can't meet the EA requirement) BUT we found that other brokers are interested.

Last but not least one broker of your list who seems to appreciate the EA will probably allow it to work..
Again you listed market makers with impossible policy for scalping (FxPro) with ECN-like like AxiTrader... a not so good mix.

You wanna know my feeling?
My feeling is that trying to open customers eye to trading conditions, slippages, executions time... trying to teach customers to MOVE from a broker if they see something wrong instead of being GRINDED day after day, trying to build investors and not gamblers... well this is NOT welcomed by the SCAM mafia, nor the SCAM brokers.

That's my point of view.

We are selling an honest product, with a reasonable price, with TRUE reports, TRUE explanation, we offer an open community where you can share your results between other users, we wrote custom logs to allow the customer to chack the quality of the execution... the EA itself shows to reach the breakeven point in one month of safe use... i say where is the problem??

You want a money printing machine... you want the holy grail? well do NOT buy NumberOne nor any other SteadyOnFx product in the future.

😄

Best Regards,

l.

so your NumberOne Impulsive Scalper is stopped?

   BigSteve posted:
 Hi Positiveday,
I am not sure I understand this post. I have a very large account with ILQ and spread under a pip, no comissions. Are you saying I should go through an IB link or is the account I have now okay to trade this EA?

I replied to Trick or Treat that was writing about problems with ILQ and instant execution.
He get issues trading with impulsive scalpers.
If you are sure of your ILQ account operation (ask to your IB of ILQ) you can trade without problems.
If, instead, you have a direct account with ILQ without IB, you can ask to ILQ if they accept on your account that trading type.
😄

   FXdome posted:
   Hi Daltanious,

Which broker works best for this EA. Im a US customer so let me know which broker works best. Thanks

Hi Fxdome,

unfotunately we have not tested brokers for US customers.

Every broker with a decent liquidity pool, a quick execution and 'ECN' accounts should works.
Every broker where other impulsive scalpers works (or atleast do not destroy people's accounts) should works with NumberOne too.

Try to ask your question on our official forum, maybe other users could suggest you something more.

Regards,


l.