12 Technical Analysis Forex Tools to AVOID always

12 Technical Analysis Forex Tools to AVOID always

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This, is the video where I attempt to piss off every. Single active, Forex, trader alive wish, me luck. And. Here it is the Dirty Dozen video I've, been talking about it for a while and people, have been asking about it so here it is now in this video I'm going. To take 12. Technical, tools 12 very, popular. Technical, tools I can, almost guarantee one, at least one of which you, are using right now and I'm going to tell you to stop using it forever and in. This particular, video I'm just gonna go over why. Very, quickly, but every, one of these over time is going to get its own video because it's gonna take a lot of convincing especially, this is something you've used, a lot. Or even if you've used a few of these you're using them in combination. You. Need to be talked out of it because this, is how people and I, can pretty. Much guess if you're out searching, for Forex videos you are one of these people you, are in that 99% I throw this number around a lot too and it's it's probably, higher than 99%. Of spot, forex traders who, are not at a position, where they want to be as far as their overall, success rate month after month year after year now, make no mistake a lot of those people are losing money a, vast. Majority of these 99 percent people are losing badly and we. Need to take steps to fix that too but, let's talk about why that number is so high I mean price. Either goes up or down it's a 50/50, proposition how, can you end up with, a fail. Rate that, is that high first. Off bad money management there, are people who can, actually make pretty good entries, most of the time but money management will always take them down and this channel is going, to have an entire playlist dedicated. To, fixing that because it's not that hard to fix you, just have to have a structure, in place and nobody's ever really given that to you for some reason this is very seldom, talked. About online trading. Psychology is, another thing to where you can have great entries you can have really good money management but as traders we had this unique, ability to. Self-sabotage. And there are many ways you can do that. And this channel is also gonna have a playlist dedicated. To that too we're gonna cover everything but. Way too often. The game is over before even starts, because, you are using terrible. Outdated. Technical, tools on your chart, I don't know how this even started, somehow. A bunch of people got together and said ok we're gonna open up spot for X we're, gonna give people trotting platforms, and we're. Gonna have them use these, tools and indicators even though they haven't been developed. For 4x even though some of them are very old even. Though many of them don't work very well or, they're based on concepts, that you only find in trading equities and, gold and things like that we're. Gonna use them for forex every. Expert out there is going to be using them too and so everything, a new trader sees is. Going to make them think that these are the only tools available and, this is what they're stuck with and that is not the case I need to get you off of these things first so, there. Are videos in place that will explain why I feel the, way I feel and these are my core concept, videos that I recommend, every, single, Forex trader no matter how long you've been doing this must, watch, the, big banks video is the single most important, video I have ever done the, big banks are the people who move price up and down how, can you sit there and be a forex, trader and call yourself a forex trader if you don't even know who these people are and why, they do what they do it's that important, but that's okay you get to go watch that video and you'll know exactly how they operate also, I tell you not to trade reversals, which is a very unpopular video, because most people do but, if I can get you off of this - because, in. Forex. There is no such, thing as overbought, oversold anybody. Who is using this terminology in forex has no idea what they're talking about because, currencies, can go as higher as low as the big banks want them to go before some, kind of government has to step in and maybe make a change but.

Price Can move thousands, and thousands of pips before, that happens there, are so many reversal, traders out there and big banks just eat them up and. There. Are things, that, this. Is kind of where this video is going, it's. Really kind of the theme there are things you must eliminate, out. Of your trading forever. Before, I even start telling you what to do instead because. I could give you I could. Give away my own algorithm, I use to trade professionally, you, would still mess, it up if your psychology, isn't right if your money management isn't right or you. Haven't eliminated all the things that are holding you down all right that's what the elimination video, covers and I've put all these in a playlist and I've linked them all down below so you can go see them at some point because that, alone. If you just spend I think just a little over an hour on all, three of those videos you will, in. A, very very short amount of time become, a much, better, Forex, trader just, based on what you've learned in those videos because almost nobody is talking about them I'm, really surprised how they, spend so much time on the nonsense and so little time on what really matter now a quick programming note before we get into the twelve here you might have seen me list the Dirty Dozen before, and fundamental, analysis, was on there, I'm. Taking, it off because. Don't, get me wrong I don't use fundamental, fundamental analysis. Hardly at all and I don't think you should either but it's going to get its own video but. Fundamental. Analysis, is really kind of the opposite of technical, analysis, and this, Dirty. Dozen from. Here, forward, it is just going to talk about technical tools just. So you know that you might have seen this list before you're gonna probably wonder why fundamental, analysis is no longer on there I've just taken it out and I have replaced it with another indicator, I could, honestly make this a dirty fifteen, or a dirty 16 but these are the twelve that I think are the worst offenders, because I think they're also the most widely used understand. Before we start and I promise, you I'm getting into this but we haven't been able to do this. Whole, spot forex trading very long it just started, up in 1996, for the retail market, we, all remember the Backstreet Boys it, was not that long ago really. And you're gonna notice a theme here that, some of these tools, and indicators, were invented, a long time, ago so, we, can reasonably, assume they, were not made for the market that we trade yet, here we are thinking, they're the only options out there and that's just what we use and we wonder why we fail as often as we do there, are I I'm. Probably under shooting at 10,000. Different. Indicators, and tools that you can put on a chart at any given time and we. Are stuck using the same 12, 13, 14 15 if I. Were to give. You something that was actually made for Forex. And programmed. You. Know six months ago it's. Probably going to be a better option than something, that was made for stocks you know back in the 1970s. If, I were to give you a choice and said okay I need you to get something done here. Is the. Zack Morris brick phone here, is a, modern-day, smartphone which. One do you think would work better you could you, might be able to get it done on the older phone but your chances, are way, way better with the smart phone so. In, trading, because this is your money make, it so here chances are as high as possible and you cannot do that with these tools so, without further ado let's, get, into it number 12 this is the, indicator, that, I have substituted in when I took fundamental. Analysis out it, is the, ADX, indicator. Average directional index built, in 1978. And, it. Has two, aspects, to it most. People use it to measure volume which is good if you're a trend trader you kind of need to know when there's enough volume for you to trade because if not you're going to get killed but. The volume meter on it is just way too slow, and if you try to speed it up it becomes wildly. Inaccurate it just it gets you into the market way later than it should and there's, also a component I guess. Kind of below it it's two indicators in one it's too bad indicators.

In One it's, called the DI directional. Index I guess and, that. Tells you if the market is or. Whatever currency pair you're trading is bullish, or bearish and it, lags I mean, it lags heavier then even, things like stochastic Stu I mean it's very. Very, late if you want talk about an indicator that gets you into everything way too late this, is it it, had to make the list at some point so that's gonna be number twelve number. Eleven, trend. Lines okay so understand, this. Is not I'm not ranking, these I'm just listing these but. If I was ranking these trend. Lines can. Move could very easily be, the worst trend lines are awful first off nobody ever draws them the. Right way there is really no one way to draw them right everybody, draws them differently, and therein. Lies the problem you know do you connect the very tops do you connect where price closed. If. Price, has broken the trend line do you keep it on there everybody has a different idea what. Trendline is supposed to be and it's, really, messy there's no one uniform, way to do it that's a big problem and on top of that there's just way too many options if you, were to show me any chart, right now on any time frame I could probably draw, five. Or six different trend lines you know which one do you think the markets are going to respect well, the answer is probably, none. Of them because for one once you discover there's even a trend in place it's, typically, over, that, ever happened to you you, have price. Has I'm doing air quotes hit, three, points on the trendline and then you use it and all. Of a sudden price, no longer cares about the trendline that's. Because. There's. Really no such thing as diagonal support, or resistance, we're. Gonna talk about regular support and resistance, in just a little bit but if you really think the. Bank's actually care, at all about. Support and resistance that, goes diagonally, you're crazy. There's, the. Video and this is gonna be great because I could talk about trend lines forever, and why they're terrible but, if there's one thing if I do one thing in this entire video please, now and forever take, trend lines off your charts and never bring them back number. 10, stochastic. S--. 1950s. Yes. You, are using an indicator from, the 1950s. As if. Nothing, has ever evolved. Since then and. It's based on overbought and oversold which, already, especially if you watch that reversal video you have understood, by now that, that's not even really a thing in forex, so I could just really stop here and that. Would be reason enough for you to never use this again but, it it, doesn't even do a good job of showing overbought and oversold I know stock traders that hate this indicator, because, there. It. Gives so many false signals, even. When price is range-bound but, then on top of that when, it price, actually trends, traders, get a bowl iterated, because. Reversal, traders are always looking for reversals, and they're gonna do that when price is trending and if. Price just keeps trending stochastic sizz going to give you so many bad, signals, that any money you might have made during the range-bound period, you are going to lose during. The trending period and then some and yes, if you look up here there is a fast and a slow version of stochastic sand there's a bunch of in between versions, you can use to depend on put your settings I have used them all I have tested them all they, are all terrible. On to, number nine, price. Levels so this is not something that actually, it's. Not an actual program, tool, that goes on your charts but, we know what price levels are right if you have a round number, say like the euro dollar at a one, dollar thirty cents even, that's. Considered, a price, level and people think that is an, actual point in time that you should give a about not. The case because, they also say the same thing when price. Ends in 500. Or 20. Or 80, there's. Just way too many, options out there that people tell you to use they wait for something to actually happen and then in hindsight they say hey look price. Had rebounded off the fifty level or the twenty level way. Too, many options and, they're not really psychological. Levels people love to call them this that's not what it is where, ever heavy, amounts, of trading are happening, that's, what the big banks see and if they just so happen to occur at, one of these levels the, big banks are gonna see it and they're going to react accordingly but, here's the thing you have no idea at what price this is going to have the price of the euro dollar could skyrocket, past. A dollar thirty past, a dollar thirty one and then finally bounce, off one thirty two for a little bit and everybody. Goes nuts say, hey look it, bounced off this psychological, level that.

Doesn't Help you why, didn't react to a dollar thirty why, didn't it react to a dollar thirty one you. Know this would have been really helpful to know beforehand, but you don't price, levels are not helpful and they, only look good in hindsight. Number. Eight the. CCI indicator. Commodity. Channel index is. Something. People use for trends and reversals, it was built in 1980, and it's just it's, just too jerky it. Gets, you into everything way, too quick. Which, is not a good thing in this, market, being too early is no good being too late snow good either and it's just way too over-reactive, no, matter how much you try to smooth it out it just doesn't, work it's. Almost like you know we all have that friend or, that co-worker that, just, flips out over everything, to just completely overreact, to every, thing that most people would just kind of write off, you. Wouldn't give that person, your money to invest he would not trust them to make good decisions and that, person is the CCI indicator and people. For. Some reason when he's reversals, and use it for trends they think they found a way but, it's. It just moves, way too, fast and if you try to smooth it out you completely. Fritz, out the mechanics, of the indicator itself it's. I really, got excited this one when I first found it I thought I had some some, ways to make it work I tried, everything and it just failed, every, single time. Number. Seven, support. And resistance lines okay, this, might just be the most popular, one, of the entire 12 and. It's. Gonna take a lot of convincing to get you to take these off your chart but hear me out on this there's. Just too many possibilities. On this, one there's too many lines that can be drawn on a chart support and resistance wise on any, given time people, use all sorts of different, timeframes, even. Within, let's just say the daily timeframe there's. Three. Or four lines that, are very easy to draw and they're very easy to see this isn't like trend lines where everybody draws them different pretty. Much if a, support line goes here that's where it goes and every single trader can see them way too easily, now. What happens when everybody can see them everybody. Wants to use them and you, all of a sudden have become very, popular you. Have created, a hot spot on a chart with a lot of trading action, and guess, who sees that the, big banks and they absolutely feast. Off of it they're gonna find, what. Direction, most of those orders and most of those trays are going to go they're gonna trip those orders and they're gonna take price the other way until they have knocked out every single stop-loss, they can this. Is one of the biggest contributors to that 99 percent number because so many people use. Them, number. Six. Japanese. Candlesticks, 18th. Century what. Are you doing using, these things they're. Really easy to spot when they work so for example a Japanese, candlestick, pattern be like a hammer for. Example, but. You're not slick you're not the only person that saw the hammer everybody, saw it. And what, happens is every when you see them everybody, reacts to them and then, the big banks go right after you you, might see a hammer that works really well because, price reversed, and that's a really easy thing to see on a chart but, you probably got lazy and you, missed, the points on the chart were three other hammers completely failed the. Banks will give traders, a win every once in a while to keep them in the game it's called the blackjack theory I've gone over that in my big Pink's video but right now go to any currency. Chart you want I guarantee there's me a bunch of hammers that didn't do what they were supposed to do and, you. Didn't even see him but, that one that did work looks super cool and he got really excited and. You ended up setting up yourself to fail, number. Five and, I put this one after, Japanese, candlesticks, because you know in a way they kind of go together but just chart patterns in general you know we all have chart patterns right, but they're really much better for stock trading because most chart patterns are based, on trader, sentiment, and trader, sentiment, is not something, we really use unless we're going against it but there's not really a whole lot of ways to find out you, know where the money is going that's the information that the banks know that we don't that's the one handicap we have but. For that reason really, chart patterns don't.

Really Work that well there's still too easy to see for the most part if a, triangle, is forming, on a particular, currency, pair you really don't need somebody to tell you that you have two eyes you can see the triangle. Is obviously forming, but, what's gonna happen is, traders. Will put orders, above. And below or just above or just below but either way pick. Banks love to whipsaw here if they love does take, those orders trigger them take price the other way make you panic and then after you've exited, the trade at a loss then, they decide where price is actually going to go and they, love doing this with, chart patterns because they are very easy to see and traders, really, like to trade them moving, on to number, four I forgot, when number four was oboe injure bands yes early. 80s for these people love Bollinger, Bands so. Around, 1982-83 something. Like that John Bollinger came up with these and they. Are heavily reliant on the whole idea of overbought, and oversold which. If you were watch the reversals, video you will, realize is not really a thing so, from. The start this indicator, was very, faulty problem, works pretty well in stock trading actually, you know there are certain points where stocks can get over stretched but. Currency is not the case and some, people do use them to call trends but. When it does that it. Has the tendency to take you out of that trend too early I'm a trend trader I want. To get those really really long runs give me a ton of pips and, Bollinger. Bands don't, allow me to do that because as soon as price retraces they, tend to tell me okay the trend is over and you should exit, so. You should just know by now if, you're trading spot forex anything, that has to do with, a currency, being overbought or oversold or, something. That's gonna help you trade a reversal, just doesn't need to be in your chart to begin with number. Three. Fibonacci. This. Is gonna piss a lot of people off so. Fibonacci. Has way too many possibilities to again. You could show me any chart, any timeframe I could draw about. Five or six Fibonacci. Retracements. On any. Chart there's, way too many possibilities, and what does Fibonacci have to it like five six. Lines depending, on how you set it up that's, gonna end up being a lot of lines on one chart price, is gonna probably balance off one of those lines but you have no idea which one if there, is any indicator, out there that looks really really great in hindsight but never works when you do it it's Fibonacci, and it's fundamentally, flawed from the get-go it's based on patterns, that happen in nature and, on, planet earth and that just has nothing to do with. The way spot forex is set up and it, again, it's too reliant on overbought oversold very, few people use Fibonacci to, trade breakouts or a trade trends so just, right. Before it even goes on your chart there's so many things wrong with it number. Two is the RSI. The. Relative strength index. Back. In 1978, somebody, came together and put this together for stocks and it, didn't even work, for. Stocks that way like most stock traders I know hate the RSI, so if it doesn't even work well for what it was created for it's not gonna work really well for, Forex. Either but this is really, heavily researched, heavily. Used and there when. You see all these things in, front, of you there is no surprise to. Me anymore why that, 99 percent is where it is and again. It's almost used exclusively for, overbought or oversold I, just keep saying it on. To. Number one and. This. Might surprise a couple of you but, because I haven't really talked about it yet but, there is a ray. Of light to this one and it is moving average, crossovers. So. It's not terrible. They. Have a tendency to work in certain situations, but it's just not that great either because first, off it's, like seeing a hammer just. Because you can draw a 50 a 100, and 200 SMA, on your chart doesn't, mean you know something, somebody doesn't you know you're about to make yourself a very popular, when price approaches, one of those levels or, when. Those, two moving averages cross and. It just gets you in too, late. I. Have. A way that, can get you in much sooner and that's. The approach I'm going to talk about when I make that moving average crossover video but. On any, given day I am probably entering, a trend before, you, because. You. Are using moving average crossovers, and you're just getting in too late, it almost might be a situation, where it's a trade to where I'm gonna makes a little bit I'm gonna actually make a little bit of money and you're, gonna lose the trade all together and you, just can't afford to have those things happening, to you over and over again that's the danger of getting into a trade too late too, early is no good to lates no good either so as I had mentioned before I'm, going to make an individual.

Video On every single one of these you can kind of see where my headspace is and I can hopefully especially. If you're using them right now get. You away from them forever it's, a hard sell because you spend so much time on and you've just played. Around with it so often and try to develop your own systems, with these tools but, the sooner I can get them out of your trading toolbox the better and, as. Is going to be the case with this moving average crossover video I am going to give you a much better option I'm, going to do that on some of these videos and then going forward I'm gonna have other videos where I release some of the really really, good tools and indicators that I have used over the years as well so. If you'd like to see that and you, also want to learn some really good trading psychology and, money management tactics, subscribe, to the channel it's. Here for you I mean who else is, talking about this who else is saying here are 12 really really common indicators, that everybody uses and loves and you should not use any of them. Nobody, but, I would have never become a forest prop trader had I had not done this first you really have to eliminate a lot of this stuff before you can even think about moving forward but following the same tired, advice with the same tired, old, technical. Tools being. Used every time is not going to get you anywhere you, need a channel like this to help you move forward and this is what I put together I have new videos that come out every week I have a podcast that comes out every week so many directions for you to go I'm gonna link it all down below but, either way subscribe, hit, that bell and, we're gonna do some things here guys let's go get it.

2018-07-25 11:17

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This information is kind of shocking, but makes sense to me.

Hey bud, just listened to your podcast, and I'm looking forward to learning how to do things from the ground up. Nervous about the growing pains, but it'll still be fun to get started.

Oh, by the way, just in case it's useful for you since your channels are new-- I found you on Spotify.

so if were not suppose to use anything, such as indicators, we've been taught.... where are we to start?

I would say first watch every video on this playlist, then go here https://youtu.be/086ozcHDZPw Then check back in. You'll be miles ahead of most traders if you just do that.

I am actually listening to all of your podcasts and i really agree with most of what you say about consistency, i just saw the answer you gave to other guy "jordan" i am checking out... thanks for taking your time to help beginners who really want to roll!

what is left to use?

This video gives me the opportunity to think differently of trading. Thanks a lot!

Every day watching your videos again n again make my day special

candeltick analysis is bad?I don t think so..there is another better way to se price ,which is?

Great content...I'm definitely enjoying your videos but the real question is who actually created the chart system from the beginning? Aren't the big banks created and controlled by the elite Zionist? In which print money anyway ? So are the really moving the charts up and down or using a natural system that will move according to it's own design regardless? Every trader on Earth needs to watch this Tudor Jones video that shows the same exact correlation in 1920 that happen in the 80's .... extremely interesting .... https://youtu.be/CBkCnrfAvF4

This game has been being played way before the retail trader even entered the game.....what if you created a chart system game from the beginning to get other countries banking systems involved to first build those banking relationships to further establish your higher secret level devious agenda lol....I believe there not even thinking about retail traders at all ....”Too many questions and not enough answers”

still watching and not getting tired

jesus i dont even know what to back test anymore fucking with this guy but i am very intrigued but its like calling ya big bro Fibs to kick my bullies ass and the bully completley wash my Big bro up ....great vid and im here for this because ive asked these same questions as a new trader..like i feel as a new trader that the 90% of traders fail in 90 days should be adjusted,but these gurus leave these old theories for our coin

Nice video love it

How about the macd?

Very interesting and a good explanation on the fundamental faults. I have been frustrated with the videos on youtube about alot of these indicators that make it look so simple however its just not the case in reality. Has the video on moving average crossovers been uploaded yet?

You didn’t include Elliott Waves.... what’s your opinion?


There is a man who blows my mind and i love it =)))

Like damn, all these indicators has caused more harm than good to my trading. I stopped trading for a while trying to figure out where I went wrong and found your channel and all of these indicators has now made sense why my trading keeps on losing. Thanks Mate and Im still waiting for your video about how to trade like a bank and right entry and exit reason for every trade. Have a great day!


Thats why I love stock trading because these indicators make much sense there !!!!!!!!

Does this BIG BANK THEORY actually exists??? Are they actually concerned about taking a small retailer out of trade ?

U got me hook on these videos

So please tell us exactly how you trade. Purely price action? Nice vid

The ATR allows us to target what the market has been offering.

You are greate !!! thats it.

Dhaval Gala Best believe it. I learn from the same guy ICT. Can’t wait to se his point of view.


Trading is perception and Fibonacci is the mind, that's my opinion. (the classic way to trade with it is good, but there is a better way to trade with Fibo, search for it) I love RSI and it does work perfectly. EMA's best S/R tool.

Hey, if you like it, and are having success with it, I wish you continued success.

I've never used Fibos

Elliot wave is not an indicator.

The video was great, Now can you do a video called " THE FANTASTIC DOZEN " I would really appreciate that !!☺️

Checkmate with a pawn...

Actually it is good to use those technicals and indicators, because you will know how banks will trie to screw you up.

Mojo good point, but only as a tell, not a trade trigger.

There are few like you my friend on youtube

Sir, If you condemn all those indicators, What do you use to trade, and are they free?

In my 8 months of studying forex I have to really say I am seeing much of this is so true..

Agree on everything u say so far. U possibly wrong abt stochastics. MTF stochastic is something if u can master works wonder in forex.

Same here bro...

The big banks don't even know we exist.

Well, if you generally cannot take the trade at the right time and furthermore not exit at the right time, then ATR is worth nothing. It cannot be the #1 indicator. Trading signals are most important, but you cannot take the trades without using ATR and other risk instruments.

you always say these indicators are old and all, my question is indicators are derivative of prices, it's just some graphical representation of price, and price in the 1950s or price in current time is the price isn't it? you want to say price in the old times and the new times are different?? really?? ATR was also developed in 1978, isn't it? There isn't a single god indicator but with trials, the confluence of indicators will improve trading.

Dont agree on trendlines and support/resistance, just you need treat them as smart money.

I have several friends in the "big banks" trading Forex, even in the central banks. And they use those indicators all the time, if you don't know how to use them or if they don't work for you that's something totally different. I have seen people make millions using the simplest and most underrated indicators.

Nonsense, do these video recommendation applyfor stock trading? thks

moving average crossovers #1, interesting, what about the spread between an EMA and an SMA of the same length? widening=growing conviction, narrowing=losing conviction, crossover=significant moment aka possible change in behavior

you just took away 4 years of study for me. haha, that's ok, the quickest way to grow is to Learn, Un-learn and relearn good stuff. Let's get to the real strategies and real setup strategies

Never use City index they switch time of your trades positions and freeze your screen so you cant sell in profit record your trades on video and report to FCA

Much like a lot of other things in life... Different strokes... Thing is these work really well for a lot of people while not so well for others... Each to his own I guess...

you also always say big banks big banks big banks are coming after retail traders. Out of 100% of forex turnover per day, only 10% is contributed by retail traders. Institutes, banks and whoever are market participants they all compete with each other. About almost 90% retail traders losing money, no one is born a trading master, no one opens a bank or trading institutes without knowing anything, no banks or institutes hires a retail trader who has got no results. Everyone starts from zero, they learn, they make mistakes, they overcome and finally become a good trader, and those good traders are hired by banks and institutes, and even the good traders open their own firm. That's why 90% retail trader make a loss, they just participate and learn on the way, those who are determined and gives time and patience to the trading game they may finally succeed but according to statistics, most retail traders quit trading within a year.

No support and resistance! This is actually kind of crazy because the first thing I usually do is plot my s&r on a chart as soon as I see it. It usually makes me seek out reversal trades so you could be on to something. I'm going to backtest and see how I do. Do you think it's possible to trade without anything on the chart at all?

It is not problem with these indicators, it is problem with people who poorly understand and implement it. Theory very often is not what you can implement in practice. So, using RSI is much better with 50 level line than OB/OS system. You can draw direction lines, notice divergence, breakouts. Default level is 14, which can be changed to lower and higher values, depends of time frame. Combining more than 1 indicator is good for more informations

nice nailing bro # glad with order flow footprint am doing well.............i love your videos

I agree with every one except fibonnacci. i use modified fibs, not as a trade entry but a map of structure. Don't know how they're traditionally taught but my trades go to the 131.8 and 261.8 everyday to the tick most times.

Only one I disagree with is bollinger bands.

Why are you giving all this info away? Highly appreciated, but why?

I guess its cause the 1% is just as important to the market as the 99% are. But what happens when everyone gets this knowledge and the banks realise this?

Excellent video

Hi VP, I totally agree with your philosophy on not being the popular guy (gal). I have mainly been a contrarian trader since the beginning. But, what do you think about using these popular indicators to maybe see where the populous is and look to trade contrary to that? I would think that that is what the big boys do. Or, do they mainly look at sentiment? Love your common sense. It is refreshing. Thanx, Bill

Ok, thanx VP.

I'll have a video out on sentiment down the line that should clear a lot of things up.

What proof do you have that the big banks go after retail traders as aggressively as you claim? I'm enjoying your podcast and these videos, keep it up!


Awesome job bro

Don’t hate people just learn and apply

deez nutz

Eyeballing! :-P

+René Jørgensen Because there is no holy grail out there, mixture of good indicators increase the success of your trades. However, he use the ATR not for any signals but for money management. So with good money management, days when you get strings of S/L, you lose the minimum

maaan don't smak about the rsi ! everybody'd be a fool for not using it....uncool! anyways, I enjoyed the video

I was like dayum my screen is super dirty! and then I reduced the video and I was like dayum I'm so high!

Trend lines are the best if you know how to draw them, you can be a sniper by choosing a pivot points and making hundreds of pips

Dear Patrick, I greatly appreciate you taking the time and effort to share your experience here. You listed a few of the tools I use and have seen used to give potential positive probabilities, surely there is more than the standard way to use some of those mentioned. S&R for example can be drawn as a zone, you can look at invictusfx here on YT for an example. Will patiently wait to see your explanations behind the name and shame of the mentioned 12 tools. For the record: Not pissed off at all and rather take the chance to learn another point of view, thankyou  :)

All indicators are lagging most people know that.

hi Vladimir what do you use .thanks ranko

+Texmex89 LOL

What way do we trade then, if you knocked all the tools out XD

Dear sir, I am a little bit confused here. MAs are usually used for trend following and as you mentioned, there is a good chance that you will enter to the trend way to late. However if you try to go ahead and enter as soon as the trend starts, does not that becomes you a swing trader? =( I need help. Could you explain the difference? Thank you for you help, big fan of your work!

Dhaval Gala hello please teach me how to trade stocks

I wonder too XD

Bro can you a make about trendline?

Am I the only one who is getting more confused going through your videos? Do not get me wrong VP but this is the opposite of what I have been learning and trying out the past year and a half. Still not sure if you are Galileo Galilei or the pope of the medieval church. I will continue watching, listening and reading your material with an open mind. I just hope it wont confuse me more and waste my time.

Hold on VP are you saying fundamental analysis does nt matter in forex?? im sure its fundamentals that move the currencies right?? economics of the worlds countrys

interesting, some of these indicators do have their place in trading, so I wouldn't disqualify them so bluntly, if you check what the indicator that you are using is based on you will find that it is also based on those..

This guy is trading with paranoia of the so called big banks, I wonder if he's really making money

So what kind of chart than you using?

I Hate You, S&R got me in my feelings

Lol stfu and make money b4 they see it

Thank you, are just information of where price is at, not signals

Paul Langer Forex Yeah i’m trying to wonder how

Voodoo - serious traders laugh at that kind of thing.

OH NOOOOOOOO, the winner in number 1 I have used way too much. Then again, didn't yield me much if anything. This is a great video.

Many people uses them to feel better. To get the confidence boost. That doesn't make them work. But it makes the human psychology to work. Indicators will do what price alredy are doing. So in that case they work right? Is like religion :)

Hull Moving Average and Fractals to name a few. With a combination of Hull, tight MA cross and ATR being my all time favourites

TA is soo controversly because TA supposedly works BECAUSE everyone is using it and then there are ppl like you telling they dont because its popular. Still searching for the right tools since 2 years and still not have traded yet, maybe its good so because I dont loose money haha. I agree with trading on the daily TF because intraday is too noisy and is controlled by orderflow.

Finally someone that agree wholeheartedly with

sooooooo ATR with "line" type chart is the way?

Wow everybody has an opinion right. And that's just what this is...an opinion. The opinions here are not gospel and it is arrogant to say that it is. However, this slant on forex trading is interesting to watch and I respect his opinion. This is not meant to be critical it is just that I cannot subscribe to the I'm right everyone else is wrong theory.

You are absolutely 100% wrong about trend lines.

He is a prop trader, whats your claim to fame ?

Most custom indicators are built around old, tried and trusted indicators i.e. moving averages and RSI. Personally, I like a combination of the Hull MA, 2 tight MA cross and ATR being my all time favourites. For example: 1 - 20 SMA, Shift 2 (Red) 2 - 20 Weighted MA, Shift -2 (Green) 3 - 26 Hull MA 4 - ATR period 7 5 - PSAR Step = 0.009 (currently testing for trailing stop) (The MA's may require small adjustments for each instrument) I do not trade when the market is range bound I only trade when at least two bars have closed and the two MA show a clear separation. My first TP is 1x ATR, the second TP will follow the trend SL = 2X ATR. Once first TP is hit, move the SL to BE Works well on H1 and daily TFs I have been searching for over four years to find the best strategy that works for me and this it. I welcome your comments.

Of course but on bigger TFs, in smaller TFs ppl rely on TA

Fuck this guy,


Well, guy get a strategy and share it!

Enjoying this

without claiming to be a pro...or even a mid level player, what I've realised is that not a single tool is meant to work on it's own because none of them are perfect, but they all work together to give probable reason. the big players also don't make decisions out of the blue, the market tells them because they are also fundamentally chasing the money. what's the right tools to use would be the perfect question to answer man?

OK .Im gonna take most of your advice Except: get rid of trend lines . Thats all I use . See this guy .Seems legit . Ex citi bank head trader . Im gonna use you and him together . Hope you dont mind ; ) https://www.youtube.com/watch?v=VCI8OLH3gGo

+Gavin Beverley he's a youtuber bro lol, is that his claim to fame!

look, take every word with a grain of salt. what works and gives good results for you should not be questionable just because some confident speaking youtuber decided it is. i'd be more impressed if he told us what to use over what not to, he's just creating confusion with no solutions at the moment...keeping in mind as well that no strategy is the same, if you know the fundamentals of trading, then it's time to create your own strategy.

+Daniel Gustavsson sooo, it makes them work if they win right, coz it's really about the win... right?

That's what's being sold here

Idiot waves... Forgave me... I do trade. Place a zigzag you get the waves...

I'm even scared to use some of the suggestions that u guys are giving who knows

All indicators are based upon mathematics and math has not changed. They take and modify moving averages by a formula, an algorithm... Many "newer" indicators are simply variants on the old indicators VP decries... Is there really a "new" indicator that modifies moving averages differently than the "classic" indicators? I see newer indicators that display signals differently and modify things in different ways, but at the core, I doubt any of them are really that different than the indicators he decries. You can trace a "new" indicator to an origin from Stochastics, RSI, Moving Averages, MACD, CCI, ADX, Bollinger Bands etc or even a more complex combination. The problem with indicators is that market conditions vary from day to day, more trending or more ranging, and indicators cannot adjust to these conditions... Moving averages work better in trending markets, oscillators better in ranging. Mind you I use indicators, and am not that down on them. (Recommend TCCI for MT4.) "Trading reversals" is simply trying to catch the beginning of a new trend, but this isn't so easy because of Persistance of Trend. Being a trend trader means you wait until the trend is more solidly established. I find it interesting that VP says he has a "Holy Grail" system of indicators that are profitable.

Keeping my fingers crossed Ichimoku and wavetrend doesnt show on the list since trendlines already did. Phew.... Regarding RSI, dont use them for trading OB/OS levels. Do the opposite. Instead of 70-30 levels, use the 60-40 levels. Buy when it goes above 60 and sell when it goes below 40. Try this and backtest the system. You will be surprised.

Most custom indicators are built around old, tried and trusted indicators i.e. moving averages and RSI. Personally, I like a combination of the Hull MA, 2 tight MA cross and ATR being my all time favourites. For example: 1 - 20 SMA, Shift 2 (Red) 2 - 20 Weighted MA, Shift -2 (Green) 3 - 26 Hull MA 4 - ATR period 7 5 - ADX and/or RSI provides entry confirmation. 6 - PSAR Step = 0.009 (currently testing for trailing stop) (The MA's may require small adjustments for each instrument) I do not trade when the market is range bound I only trade when at least two bars have closed and the two MA show a clear separation. My first TP is 1x ATR, the second T P will follow the trend SL = 2X ATR. Once first TP is hit, move the SL to BE Works well on H1 and daily TFs I have been searching for over four years to find the best strategy that works for me and this it. I welcome your comments.

Let's get rich making others rich!!!! Win win my friend

Guys, I’ve opened up a telegram group just for the amazing community we have built here. Feel free to join https://t.me/joinchat/IXvSfhNnNQ1kJr39oSs56g

Fractals didnt make the list either :)

Ichimoku is actually a decent indicator, a bit basic, misses some trends but rarely get's you into shitty trades.

Realy nice to know! Awsome

Nice one bro. I'd been following your podcast. Many thanks

If your going to call out most of the tools, then WTF are we supposed to use?

Great idea!, thanks as I now use this as confirmation. My RSI (7) for H30 looks like this. 60 level is set with a green horizontal line. The 40 has a red horizontal line and the 50 has a dashed dark grey line. Like you, when the RSI line crosses above or below the 40/60 levels this provides confirmation to enter a trade. The further the line is away from the 40/60 lines represents potential longer trends. Without a doubt, this is better than a Heiken Ashi indicator Personally, I have more than one strategy in my arsenal and I'm constantly working to improve them all my waking hours. Plus, two EAs set with low-risk levels

The Banks move the currencies based on the traders buying and selling trends...economy hasnt shit to do with price movement, unless you're trading actual stocks

I've always thought Fibonacci was too gimmicky. So I gladly threw this one in the crusher.

Follow this guy and give me your money... as well as to this guy... you won't become successful watching boring videos that take 30 minutes to deliver 3 minutes worth of information. Study your charts instead....

No matter how hard i try to draw a s/r line, i never have 100% confidence in it. Even if i use zone, still there are candles make fake breakouts. I kept telling myself that I was doing it wrong and market is always right. Never thought that the indicator is where the mistake happened

Seems like you’re against every indicator we use, so what do you suggest we use?

So someone has to help me out here, do the big banks control the stock market?

People makes indicators to work in charts. As long as enough people use them, they will work...

Number 6. CCI ...did you try histogram version for the momentum spot!?

My friend you also do like the big banks using the black jack theory you give us some information just to keep our interest but in the end you don't give a real or information for improving our trading. thumbs up for that

The eye ball indicator is pretty reliable. Most people don't use it though.

your brain

He's talking about currency pairs, not the stock market.

+I love My Life haha Indeed !!

You're the Nietzsche of trading. lol

I can’t wait for the “Candlestick” video to come out whenever that is. I want to know why that’s really in the dirty dozen since it’s a chart format of price. I understand not trading just based on candlesticks only, but I’m curious to the key reasons why it’s in the dirty dozen. I’m here to learn and listen with an open mind.

Chief, Muchas Gracias por your efforts to educate. I'd like to send you a private note. It will be concise and to the point. How do I contact you? Seems no way via your website.

no the bank does not. there's your answer.

Abdul Gafoor Abdul Gafoor exactly

Use these 12 indicators in reverse for success.. lol

Same here... that’s the main go-to I see most people talking about. I wanna know if not all the stuff in the dirty dozen, then what

what is that, bro? Could you please send me via email venderhak@gmail.com ?Thanks

Lol. This guy just said to forget everything I've learned in FX. Price action, ema, MA, s/r...... Might aswel give up fx

Well, quitting would give you a higher ROI than using those tools would. So....you're welcome?

Wht haven't we heard any comments about the Ichimoku cloud!

use those 12 tools in correct way to get success =))


Im hooked. 2 vids in. Who are you and where is the proof? Note: this and other vids are getting more and more popular. Trading is trending.

Why haven't we heard any comments about the Ichimoku cloud?


How does it work mate ?

Market Magician and yea smaller timeframe is where traders lose money. Fundamentals are very improtant.

Lol please dont say that if u search for long enough u will know almost everything he tells you its not even big deal

All of VP's playlists have been HUGE game changers for my trading. You need to watch every playlist on this channel at least twice!!! https://www.youtube.com/watch?v=ryNDemU24uk&list=PLPqWQo6-TXfHvb2XDgU-WgFIubbo3gBVR https://www.youtube.com/watch?v=AnfyD6GYLtU&list=PLPqWQo6-TXfHUeTXdwRRpNSEJ6bWe-jIl https://www.youtube.com/watch?v=3c6o4O8goAo&list=PLPqWQo6-TXfE_EEypsX7-by2qub_S09WN https://www.youtube.com/watch?v=n9ebKwZpSw4&list=PLPqWQo6-TXfHyC12MRHK5doA5oUeGwpkV https://www.youtube.com/watch?v=aEORce6dZZI&list=PLPqWQo6-TXfE8G_Mmxow0znSSoWTu44e7

Oh my god. The intro to this video made me laugh so hard. You are too funny. I am hooked! Binge watching your videos and reading your blog. Going to join your list!! Thank you for taking time to teach new traders like myself.

Alisha Reynolds Yep, same here!! Lol

Truth hurts!+No Nonsense Forex

Cos it's pointless bollocks.

FOUND it. Fucking re-listening to videos for the 2nd and 3rd time to find the MA mention. Some form of MA(SMA, VMA, Hull, etc...) is almost unavoidable to me at this point. This year I went from wiping my brain clean of 99% of indicators, altogether, right back to back-testing them for hours and hours to find my best confirmation and exit....... The goal here is to turn my exhausting early-ass-morning trading routine (London into NY) into the more sane and sustainable "shortly before daily candle close" routine. Thy path is before me...... I just wish your channel would STOP BECOMING MORE POPULAR DAILY Aaaaand good night internet.

+Do Pham I think he's being sarcastic

u could use it successfully, but u have to have a consistent way of filtering the price interaction with the lvls - same goes for support, resitance and trendlines

you are bassicly not understanding diffrence between technical analisys and trading strategy

ta is easiest thing in trading...

stochastic is fast lol

then what should i do insted?

many thanks for your free knowledge

Anyone have some suggestions for finding more relevant and less subjective indicators/technical tools? Practically all of my analysis was destroyed here so I'm just wondering to go from here.

The SuperTrend indicator/ATR combination are currently the most successful for me on an M30 TF

contact clintonwilliam37@gmail. com he will guide you and help you in every means and i assure you a profit of up to $28k per week

+No Nonsense Forex ha ha ha ha ha. Classic.

Check www.fxworld.xyz

WOW, Blown away.... Been trading in the forex market for a year now and have become profitable in the last few months but this video just destroyed all my strategies...... You have my absolute full attention now!!! I am going to watch your every video, listen to your pod casts and learn the right way to trade forex. Thank you very much for taking the time to share this priceless knowledge....

I subscribed and pushed that bell. lol

google mt4 indicators

Are you trading at a loss with the tools you use?

Knowing when to recognize a Trend and staying in is what I am looking for and recognizing chop and staying out while floor traders play with choppy prices, their playground.

Are your indicators too slow or too fast lol did the Dow read overbought in the bull run between 2012 to 2017 is it illegal to put a fake milometer in a car????..mmmmmm pay

From the way he described it here his issue isn't with Candlesticks in general but rather the patterns

Ok, I don't agreed that chart patterns, trendlines and Support/Resistance don't work. I see them on the chart and they work like a charm.

They're great in hindsight. Use them in real time, and you'll see what I mean.

I must disagree with this video, some of your listed indicators work. The problem is there are many ways to use them and you need to understand the way they work. For me, ADX works well, it is one of my confirmations in the most profitable strategy I use... As there are many different approaches to trading, there are many different approaches to use technical indicators. If you use it like a noobie and buy every time it shows buying signal you are gonna lose...

I approached this in a podcast episode. #24 I think.

I wish u would cover crypto bro... amazing content. Thumbs up

Keltner Channels????

+Ranko Tunjic RSI and MACD for oscillators, moving average and BB

No Nonsense Forex, not to seem rude, I must agree with Śimon Hvizd on this one. I was really pissed when you mentioned the ADX and DI indicators as a part of the dirty dozen and for one second I almost thought you were a scam. From personal experiences, I have made a lot of pips using the ADX and DI indicators. I'm talking about 500-700 even to 1200 pips on the daily timeframe. You just have to understand them.

indicators r used for an extra conformation but retail traders rely on it and thats what makes u lose and S/R works only in a range mode and knowing the direction your big boy is in but the main thing is the price action itself once u know the entire price action then u could use indicators as conformation

I deleted all the Technical Analysis Forex Tools as per the video and ended up with a blank chart. No indicators, no Fibonacci, no trend lines, nothing. I had no idea where I was or where we were going. I added them all back again. Perhaps not ideal, but at least some idea where we were going.

12. ADX 11. Trend Lines 10. Stochastics 9. Price Levels 8. CCI Indicators 7. Support/Resistance Lines 6. Japanese Candlestick 5. Chart Patterns 4. Bollinger Bands 3. Fibonacci 2. RSI 1. Moving Average Crossovers can't wait to see your upcoming videos explaining about these indicators

thanks for sharing

after watching this I feel like I've wasted the last year of my life.. -____- kinda pissed about it .. I've ben been binging all your podcasts now im on the vids so far Im glad i found your channel.

Again, I'm being cynical here. What's the credibility you have to say all these indicators didn't work?

+No Nonsense Forex Looking forward to seeing it, thanks for sharing your thoughts on this platform by the way.

Prop trader vid coming soon. Tracking done on a separate account we're using for examples on the Money Management playlist.

+No Nonsense Forex And, where's the proof of you being a prop trader in the US and for being a consistently profitable trader?

You need credentials to give facts and opinions on indicators?? This is new.

udah nemu nmr 2, 4 dan 5? :)

Very surprised you haven't covered why being a contrarian would still end up being a losing strategy.

The trend is your friend, one of the very basics in trading. I use them all the time to get in and out of a trade. You are so wrong when it comes to trend lines. My trend lines buy and sell for me and take me out of a trade for profit or stop loss. I trade up to eight pairs on an hour chart, my losses are extremely small and I never loose.

Man, you're gonna hate my next video. LOL

Now you need the best broker to trade currencies with and that is IC markets: @t

VP. On your charts you use bar charts. I assume that's what you prefer. Can you make a video on how to use them please. cause candlesticks WAS like a no brainer until you came along. It's like your telling us what not to do and then leaving us in the dark. I know you don't want to spoon feed us and believe me I don't want that. But just a few pointers from an expert will do wonders. At this stage your mentoring is pretty messed up dude, because I had(or thought I had) a decent strategy going and now everything is to bits. But God help me I like your style and the path you are taking us on. I just hope you have the willpower to see this through, you obviously have the knowledge. And if you can see this through you will have like a cult status and surely be a legend of trading. Good luck man and i'm following you closely.

There is no difference between bar and candlestick charting. I switched to candles actually, because viewers said it was easier to see.

Don't hold your breath, he's not going to present it on a silver platter. That kind of upset me at first, but after searching for indicators myself, I can understand it. When you've spent countless man-hours to find a consistent way of making money, you're not giving it away no matter what, unless it's for someone you really love. Besides, people who haven't figured out a system by themselves will probably fuck it up anyways. I'm sure the critics would come in saying his system is bullshit and doesn't work, and it would just be a gigantic shit show.

good vids.. please create some indicator that are good to use in forex market

I get you but your too systematic. I'm talking to you no none-sense

+Daniel Ojo do a YouTube on how you use them

I am not sure about this video , I've backtestested Fibonacci when using it for patterns such as bat patterns ,cypher patterns.... theres a lot ,.This Dude needs to backtest patterns like the bat befor saying Fibonacci doesn't work , he would be amazed . If you want to make money trading FOREX follow Akil Stokes and you wont go wrong , I do, and I would be a millionaire if I could follow the rules , someday I will .

I think you haven't been keeping up with his whole game theory that the "big banks" are the ones that you trade against, so even if they don't actually SEE where the sentiment is (though apparently they do), they can use the same popular indicators to see where it's going to be, based on those. And act accordingly, ie against your predictions. So why wouldn't they use those, but do you know HOW they use 'em?

Then show us what works according to YOU. :)

You definitely have done your homework with indicators. Since I’ve started looking for better indicators my trading has shown signs of improvement.

rebel. I like it

do you have a myfxbook or other verified track record we can see?

glad to join 82 person..now im 83rd

It’s so funny. You literally say the exact opposite of every forex trader on YouTube haha. I wanna trade your way but I need more information on how to read the Good indicators. Ya boy is new in the game.

I will never forgive you for disrespecting my dear RSI

Thanks. Interesting. Will try out. I use Hull also. Like ma hull of highs and alows.+Pablo B

When you labeled ADX, my heart sunked... LOL

1:39 . I use a clean candle stick chart , sometimes lay the 21 period on..Also look up to check the direction..ATR to set the S/L and trail..

The solution to profitable analysis simply narrows down to simplicity and following initial analysis until you get stopped out.

THIS list is like the horror movie history of my trading. Its so good to finally get some clear and honest background about these indicators. Im currently halfway through and watching with a knot in my stomach whether my current favourite indicator (still in test mode) is going to come up ... agghr! ... Update ... 12 11 10 9 8 7 6 5 4 ... 3 ... 2... Its on Number 1 God Damnit!

Now why would you want to piss off every trader alive?

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