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Investment Forex Version 21, Foreign Exchange Market Discussion

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viruz
post Feb 8 2020, 12:11 AM

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Hi all traders:

Please feel free to visit my youtube channel for my sharing of Fibo Musang trading strategy explained in Mandarin.

https://www.youtube.com/channel/UCXaRXf15hgRE_2KxjDodLeQ

Don't forget to subscribe for future updates.
viruz
post Aug 29 2020, 12:12 AM

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Since I started trading since 6 years ago, went through price action and now mainly applying Fibo Musang etc, still find it hard to maintain consistency, which makes me start to wonder, is there really anyone succeeded on forex trading?
For me the more I do back test with forex tester, the more I feel no matter what winning rate and RR ratio, it will just doesn't add up for a winning result in long run, plus all the trading cost like spreads, commissions, etc, it is like gambling in the casino where the odds are always at broker side.

I have been using Fibo Musang and based on this strategy I developed various trading plan, including following signal and anti the signal, still can't find any method to trade the ranging and trending market.

Start to lose my faith on forex trading slowly...

This post has been edited by viruz: Aug 29 2020, 12:12 AM
viruz
post Aug 29 2020, 01:47 PM

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QUOTE(Emily Ratajkowski @ Aug 29 2020, 11:38 AM)
What is your advantage of this fibo musang? Does it follow good trading basics?
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I am quite a conservative trader, I don't simple enter a trade based on signal, most of the time I enter only the price reached 4.236 and reversal signal formed, and I only trade H4, most of the time the strategy works, but the problem is, the exit point, we can't really know if the price will reached 1.618, 2.618, or even 4.236, you either picked 1, 2 or all 3. but by doing this, the RR ratio, adding up with winning rate, will make the final result good at some times, and bad at some times, and ending up either you win a little, lose a little.

Wonder is there is any consistence Fibo Musang traders here, mind to share your trading plan?
viruz
post Aug 29 2020, 05:16 PM

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QUOTE(Emily Ratajkowski @ Aug 29 2020, 02:13 PM)
So it seems like you are 1 step away from being a complete trader.

The problem you have is your exit. This is very much a psychology problem (usually).

Sometimes you tell yourself you have to follow your strategy with discipline. And then you're rewarded when you hit 2.618. But then sometimes you follow with discipline and lose money because it miss your target by 20 pips then reverse all the way.

This is my own personal experience:
-The market constantly changes from trending to ranging. Your strategy usually is designed to capture one of this market conditions. When your strategy suits the market condition, stay disciplined and ride it out. When the strategy doesn't really suit the market condition, be more flexible with your decision.
-Read the book "trading in the zone" by mark douglas. It will most likely give you the answer you seek.
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Thanks for the advise, ya, I used to take 2.618, so it gives me 1:2.618 ratio, so I just need to maintain at least 39% of winning rate. But that also hard to maintain. And yes it won't suit every market conditions.
viruz
post Aug 29 2020, 06:01 PM

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QUOTE(Emily Ratajkowski @ Aug 29 2020, 05:23 PM)
I think you're almost there. I know coz I also had the same problem. But this problem will take a while to solve. There are a lot of things you need to settle once and for all. Psychology issues are not easy to solve.

And if you're unlucky like me you may end up discovering that your strategy is actually not good. And then you have to start all over again. But hopefully that's not the case. Otherwise your journey will still go on.
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I think fibo Musang still ok, especially the TP zone, which many times proven to be effective, it is the only problem to find a signal setup which actually works, which also prone to invalidated, and sometimes whipsaw SL hunting, as most of the time you are trading on trend reversal.

My next test will be to combine Fibo Musang with Vegas Channel and chart pattern and trying on doing trend direction on H4.
viruz
post Sep 17 2020, 06:30 PM

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QUOTE(afie98120 @ Sep 14 2020, 09:00 PM)
aku trade guna candle breakout

tak perlu pening tengok trend, indi, snr.. just follow je kemana candle nak pergi mana
nak tips aku boleh share, kalau rajin ko buat back test tengok sendiri kelemahan dan kekuatan strategy ni
lepas tu ko fine tune sendiri lah dengan MM tu je

satu lagi advice bila ada setup kasi hentak je bro  flex.gif
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Bro trade pakai candle breakout, based on FMCBR?
viruz
post Dec 30 2020, 12:04 PM

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https://www.youtube.com/channel/UCXaRXf15hgRE_2KxjDodLeQ
Guys if you understand Chinese, can visit my Youtube Channel for learning.

 

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