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It seems its easy to buy an EA no matter how expensive it can be especially if they said a lot of promises of profitability. Not even all EA’s are assured that they work on live accounts even if they work well on demo accounts. And not all that is legal is profitable. Let’s take into consideration “Scalping FX Robot”. It uses a method called Scalping. This method allows mainly profitable trades to be open since the robot should be able to detect where the movement or the direction of the price within the next few seconds.
But, it was said that “Scalping FX Robot” has come with 3 different names in 3 different sites. Formerly known as Magic FX Robot...
Another interesting indicator which can give good results is the SuperDem Indicator. This indi is all about supply and demand. In the chart that it shows, the thicker the bar, the stronger the signal is. It comes with a video which is a very highly recommended video. The video will give you a good idea how to use these areas. In the screenshot you can see that the price is bouncing off the indicator levels.
When it draws the zones in red or green, just enter into trade. The indi works on any time frame, yet the higher the TF, the more accurate it would be. You take the buy zones and sell zones and when the price reach the buy zone you can switch to a 5 pip renko chart and buy on the first blue renko bar...
Trade Chart Patterns Like the Pros is a good book for those who would want to trade with price actions. A great book from a writer, Suri Duddela, who really trade for a living and not from someone who make a living from writing a book. That only means he knows what he is writing about being a trader being a trader himself.
The book clearly shows the explanation of the pattern and never forgets to give credit to those who discover it. Spends about 2 pages per pattern , including the charts, to clearly show readers a more detailed pattern but gets right back to his point too quickly.
He got many examples of the charts which are one of a kind and not yet known to the public...
Is Fibo code an indi or an EA? Or is it just a trading course? This comes with a manual system, which is a physical DVD by the way, and the EA on the other hand is digital product which means it means it needs to be educated to be able to have it shared online. Though I personally suggest doing trading manually than using any EA or indicator, let us take a look at this Fibo Code.
We checked the Fibo Code on it’s internet website. You can find a lot of pictures which we may take a good study with. They seemed to be using one moving average and two indicators as qualifiers and the Fibonacci tool which as we all know it’s already available in all metatrader already. They have used this as a retracement and extension tool to figure out the targets and support or resistance levels...
You may want to try Murrey Math Trading System instead of pivot points and fibo retracements, then you may do so. All you have to do is to be confident in what you are using. If you have been trading and you are already confident in using pivot points, then just continue using it. Since that’s what it takes to be successful in this field, one should have confidence in the tool you are using.
If you want to try Murrey Math, try to study Murrey’s math in “ Murrey Math Trading System for All Traded Markets “ by TH Murrey. This is a detailed trading book with 64 rules to win the trade. There are over 300 charts/ illustrations which are given with rules and corresponding explanations...