Bro looks like you see the future, AUDUSD, did exactly what you said, wow like forex seems like your errand boy😂, you command it. Best trader I’ve seen so far.👍🏽
INTELLIGENCY IS NOT SOMETHING YOU ARE LACKING. WOW! I AM JUST ENJOYING YOUR TEACHING. THIS IS LITERALLY 2AM, THIS VIDEO HAS KEPT ME UP. AND I AM STILL REWINDING BECAUSE I DO NOT WANT TO MISS A SINGLE INFORMATION. MAN NO GO SLEEP TODAY BE THAT
I have been gaining a lot form the the free content that you share here on RUclips . God bless you dappo Willis for what you do . I must confess that your strategy really works.
For some funny reason, I've been skipping this particular video but it turns out this is the most educational video on analysis. Thanks for the free knowledge. I hope to make you proud.
@@dapowillisforex truly you have said it write although I am a newbie in the biz I really agree with you that indicators or signals dies not work. What really work is having the knowledge.
God bless you brother. I come from a very humble background. I have interest in trading. I have been watching videos on RUclips to learn forex but been confused till I stumbled on you. You are a blessing to me. Keep on your good selfless job. God continue to bless you
😂😂😂the part u said anything this thing gives u u should be grateful some person's haven't seen any withdrawal" really cracked me and it's so true. Just stumbled upon ur channel. Has helped. I'm not a pro but I've been able to make my first 6digit this year 2022. Im hoping for more next yr that's y I'm trying to top up my knowledge. Thanks I enjoy ur teachings and ur humor.
Honorable Dapo Willis, I’m Carlos, and I want to give a big thumbs up for your patience and the valuable lessons you share. At one point, I understood Top-Down Analysis, but I struggled to apply it because I was overwhelmed by conflicting strategies from various RUclips sources. I wish I could purchase your FOREX MASTERY COURSE, but for now, it’s out of my reach. However, I’ve managed to grasp key concepts and have started applying them to my Smart Money strategies. As I write this today, I know that in a few years, I’ll be having coffee with you. Cheers! ☕
Greetings Brother.. I am equally a forex trader although I am still struggling to make it to profitability and I will appreciate to have a conversation with you. Give me a platform so I can reach out to you Please respond if you get this notification Thank you
Great job, bigger bro. I just know you 3 days ago. I really love your content. My work is to watch all your videos till I'm strong. Much love bro ✍️✍️💯💯♥️♥️♥️
sir this video is way better than I thought. you are an amazing teacher. I can't afford your course now because of family issues but will try my best sir.
Greetings Brother.. I am equally a forex trader although I am still struggling to make it to profitability and I will appreciate to have a conversation with you. Give me a platform so I can reach out to you Please respond if you get this notification Thank you
I bumped into your video as was looking to learn about Forex trading. I'm a learner and would greatly love to learn from you. I love your sincerity. I'm in my 60s
Indicators work the have their own function but cannot be used only as a criteria for a trade , everything in trading works it's just to find out how to use it effectively. I will give an example many people cannot spot divergence without indicators so that is one way to use an indicator Also remember even big trades use rsi So personally if I don't use any concept I don't say it doesn't work because someone out there is using it and making profit Just stick with what u know and get better at it
Dapo,I am here to goble up the helpful information from you even before starting to trade so that my success will be guaranteed.I have already gone through babypips.I hear people like boast that they have blown up several accounts as if it is a rite of passage.I do not want to blow up any account.I do not want to lazily wait for signals.I am deepening my knowledge base so that I succeed as a forex trader.Thank you for all you do Dapo.God protect and bless you my brother and friend.
Thank for the value again as always Mr. Oladapo. Am hoping to stop looking for mentors and teachers everywhere on youtube and getting different course from now henceforth, Just to make the forex work for better for me. From Nigeria (Ile-Ife)
Indicators don't work for you doesn't mean it won't work for others. It's like 90% traders fail and therefore all traders fail. You happened to be the 90% of indicator users who fail to know how to use indicators. But you one of the10% of traders who succeeded in forex without the use of indicators. There are others who succeed using indicators. But I agree with you, most indicators available in the market won't make you a successful traders if one don't understand market structure to know how to use indicators correctly. If one were to combine what you taught and use indicators to execute the trade in a more precise entry level, it's the best of both worlds. Use your market analysis to determine the trend direction such as long only or short only and use indicators or algo to monitor the market to wait and execute the trade with the best optimal set up or price levels. That's the ideal for those who wants to automate their trades.
Hannah!!! indicators don't work period!!! For example do you look at you shadow while you're walking to make up your mind about your next move? No! you make a concious decision with you brain.Likewise, you use your brain to determine makert direction now and into the future.your indicators,algo as you call them and your precision entry point or level wont matter when the big banks enter the market. Ask that guy called "no-nonsense forex prop trader VP or something" he uses a combination of over 7 indicators and still loses trades.
@@karriskiarie847 if our brain decide what direction to take, on what basis it make such decisions? Even price action traders relied on the past (the shadows) to make future decisions. Unless you are relying on a crystal ball to see the future, every traders relied on the left hand side of the chart to predict what will happen in the future. Let's discuss this topic from an objective stand point, otherwise we will be just stating our opinions based on our own bias perspective. Firstly, let us define the real question/problem and narrow it for more meaningful discussion. The question shouldn't be "Do indicators work?" because it all depends on the users. There are users who don't know how to make it work and there are users who know how to make it work. So indicators work or not, solely depends on WHO knows how to make it work. Likewise, if one were to ask, "Can people earn a living trading Forex?" If I were to based on the number of people who failed, which is 90% then the answer is "No, people can't earn a living trading Forex" Yet why are there still so many people still trying so hard to succeed despite years of failure? Because they wanted to learn from the 10% that made it. Similarly, if one want to succeed using indicators, they better not go around asking those who failed using it because they will tell you indicators don't work. To test out a hypothesis/question "Indicators do not work" from an objective/research point of view, we often seek to find the opposite evident to proof whether this statement is true or false. And obviously there are tons of people who use indicators successfully. The same goes to "Indicators Do work", likewise there are tons of people who failed. So the question lies not on whether indicators work or not but the real issue lies in "How to use indicators to trade successfully in forex?" That's the real question we need to ask. If one already made a preconceived/bias decision that Indicators don't work, he/she will look for evidence to proof his/her point. As for me, I believe indicators do work and I too can find people who use indicators successfully. Look at the Forex World Cup Champianship 2021, the current 2nd place (who dominated 1st for the 1st half of the year), Cristian Franchi, he is an algo trade. In another words, he uses indicators only to trade because algo are purely technical analysis, no human guessing etc. Another successful indicator user is Crypto Face (youtuber) who came out with his indicator product "Market Cipher" who can earn $2mil in a couple of hours trading, he relied heavily on indicators too. The list can go on and on, so it really depends on what you have decided. If you decided indicators are not for you and you don't know and don't want to learn how to make it work, yes then indicators don't work (for you). As for me, I have spent years developing thousands of algo and indicators work for me (if you know how to use it correctly). Here is a list of the hundreds of EA/Algo/bot that I've dveloped (2mth results, I stoppped on 16 Dec because I need to consolidate the top EA into another portfolio) www.fxblue.com/users/hb82bene/stats?enddate=2021/12/16&rx=1639727218666#overview The top EA earned 646 pips in 2mths. If it is used in a $10k account, it would earn 64% returns in 2mth or 32% returns per mth (risk only 6% risk per trade). For a $5k account, it earns 128% returns, risk 12% per trade. Here is another list of consolidated EA www.fxblue.com/users/2089043746 You can't view the links using mobile device because webpage too heavy to load thousands of EA results. Click on the Stats tab and click on Strategy Tab and you will see Magic #/Comment, each number represent 1 EA/Algo/bot results. When I say you need to know how to use it correctly, actually it really mean, you really need to understand the REAL challenge in forex market. Forex market is not purely technical analysis vs fundamental, it's SMART money vs Dumb money. That's the real market. Forex is rigged and it is aimed to make sure 90% people fail. So if you understand this, then you will learn how to use the indicators accordlingly. But if you use it purely from a technical analysis, yes you will fail using indicators miserablely. The Smart money will take out 90% of traders whether you use indicators or price action, period. They hunt for liquidity (your stop loss, regardless what tools you use to place your trade or make that decision, price action or indicators). So if one use indicators as predictive tools, he/she will placed the trades before the Smart money moved and be taken out. So one need to be Reactive instead of Predictive when it comes to trading. React to smart money, ie trade only when smart money moved. You can use algo to watch the market 24/7 for the smart money to move and then you place the trade/position after their move. This is what I call Reactive trading, react to price movement but not any price movement. Another way to succeed in Forex manipulated/rigged market is to aim for short gains. Every day, there are price movements created by dumb and smart money. So irregardless who moved the market, you can still constantly scrapped off a couple of pips each day. And Algo can do this job very well, it can scan the market 24/7 and enter very acurately just at the start of a significant price movement and because it enters early at the start of the price movement, it can earn a couple of pips before the Smart money turn the direction suddenly. The problem with price action traders, they waited so long for a good set up and they set their profit target so far 1:3 etc and the smart money can always turn the trend around to wipe out their stop loss. For algo traders, we can use trailing stop loss and if sudden change of direction, the Algo has already protected some gains and won't be stopped out at original SL. Hence, one can still always gain a couple of pips each day, if one knows how the market behaves each day. From a mathematical point of view. Algo traders look at probablilty. And if one uses the indicators correctly, one knows how to set up the indicators that offers the highest probability set up. For an algo or indicator user to succeed, he must able to tackle these 3 components. 1) Can your indicator "predict" (using reactive method) the market direction/Trend correctly? Ie do you know what's the best set up that offers you the highest probability of getting the trend direction correct? 2) if your indicator can predict Trend/market direction correctly, How long can this prediction last? Eg The indictor indicate that price is going up/long/bull and it can stay correct for the next 1min? next 1hr? next 1 day? In another words, How long can your prediction last? Sustainability. It's easier to predict price direction for next minute than for next year. Hence the shorter the duration of the sustained period, the higher the accuracy rate. So the question is how do you find an indicator that can predict the Trend/market direction correctly according to your trading style? If you are an intraday trader, you will want to find an indicator that can predict trend correctly at least for the next couple of hours. And if you are a scalper you will want to find an indicator that can predict trend correctly for the next couple of minutes or at least for the next 1 or 2 hours. And if you are a position trader, look for prediction that can last a couple of weeks or mth. 3) if your indicator can predict Trend correcly for the a period of time, the next question is "What's the average pips can it stay correct before it goes wrong?" What's the pips value of your indicator accuracy? If my indicator can predict trend correctly for the next 6 hours but the pips movement is only 1 pip, then it's not worthwhile. So I need to find the set up that gives me a more worthwhile return vs risk (accuracy) Eg, If my indicator can predict Trend correctly for the next couple of hours and usually it managed to earn an average of 20 pips each time, then this is where I aim to stop my trade. It helps me set a realistic expectation of what I can get out of the market. Many people set their target so far away. The further you set your target, the greater is your risk exposure to be taken out by the smart money. The aim is to take out your profit before the smart money takes yours out.
@@hannahis3254 the issue of whether the indicator work or not is subjective, as you know the market ranges 70% of the time, during that time I found out that I can't really depend on indicators to execute any trade coz of the consistent false signals indicator's give. If!, you or any other person find success with indicators fine that great, who am I to tell them otherwise. anyway it was good chatting with you. Happy day.
@@karriskiarie847 Happy Holidays ahead and I wish you a fruitful year in 2022. Nice chatting. As for sideway market, you need another type of indicator to help you identify market is in ranging patterns, try Bollinger Bands or Std Deviation to identify ranging or side way markets and you can decide whether to stay out of these times or switch to ranging trading mode, ie take short gains Different traders have different definitions of ranging markets depending on how long term is their trade targets. To some 50 pips is a mini trend or others 50 pips is ranging. The best method is to find indicators (adjust the default settings) that suit your trading style (ie shorter parameters for shorter trading targets). You will be amazed how things look if you think out of the box. I don't use the indicators in the usual default settings or perspective. 1st I understand what the indicator is really measuring and next I ask myself what am I looking for? Eg How not to trading during ranging, then I asked myself which indicators are best in measuring ranging price within certain bands or range? I find BB one of the best indicators for identifying ranging and trending markets, more reliable than price action. Courtney Smith is a very seasoned trader over 50 years of experience. He thinks finding trading strategies is the easiest part because he found simple methods to trade but traders need to discipline and psychological fortitude to carry out the trades. Here is a guide on how he used Stochastic to make lots of money. ruclips.net/video/DpyyRQtSaEk/видео.html Lastly learning to build algo with be the next best step if your trading strategies can be coded. Not all trading strategies can be easily coded. Most people who sell their trading strategies use very subjective trading methods so there is no guaranteed success. If people who use indicators are successful, they aren't likely to share their actual settings or strategies because it is guaranteed success because successful non subjective indicators strategies work for whosoever and no one will share or sell it. That's why you hardly see people share how successful they have with indicators because that will be giving their trade secrets that give guaranteed success for free. Hence we only ended up hearing people who failed using indicators. I don't share in details how I use indicators successfully nor will I sell my algo. That's the dumbest thing to do. I only share that it is possible to use indicators successfully and the rest is up to the person whether he wants to venture into the uncharted ground that many only explored those charted grounds and failed How do I know my method works? Even my 10 Yr old son knows how to trade (based on my indicators, successful indicators are so easy and non subjective to use that even a 10yr old person knows how to use it correctly) and his win rate is 94% with 14, still counting, winning streak. He trades manually. Made 183 pips in 3 wks. With profit factor 22.67 and 1% weekly returns. Risk reward ratio 5.52. And he trades multiple currency pairs, whichever pair set up is ready, he will trade (I created a market scanner for him, at a glance, he can see which pair, both fx major and minor pair is ready to trend) and then he will go to that pair chart to analyse further using indicators to confirm whether to trade or not. Lastly, I think it's a pity when people decided indicators are not for them because they closed the door to one of the opportunities that can give them success. In forex, it's hard to succeed and if one closed a door to success, he reduces the probability of finding success, because he now has to rely on trading using no indicators. That's pretty dumb in my opinion. Even if I trade with price action, I still rely on indicators to help me understand the underlying market momentum
🤚 Tired, & struggling.. yes that is me right now. I need something that shows me how to get over to the other side...to begin profiting. Been at it for a long while now. I.m gonna get your course! 😊
Thank you sir what you're saying is the absolute truth. I have been a victim of this, i it costed me more close to 10 accounts blown. 😢 always trying to trade all the time. These key trade psychology facts are worth paying. BUT Inever gave up, rather i have learnt from my mistakes
Boss Dapo I grew my account from 5$ to 247$ then manage to purchase 10,000$ account then blew my live account because I want emotionally strong this week Just want your advise
Honestly, I was made to conclude that Forex is a computer game, after I lost over $6k in my several trading. Am beginning to have a different mind set after this your video. Thanks for the awareness.
BRO I KEEP TELLING THEM THAT INDICATORS ARE THERE JUST FOR TRADERS TO MAKE MONEY OUT OF LAZY TRADERS. BUT THEY DONT WOOOOORK I WASTED MY FIRST YEAR WHEN I FIRST GOT INTO FX I WISH I GOT FIRST PEOPLE LIKE YOU I WOULDENT HAVE WASTED MY MONEY BUT ANYWAYS I LEANT MY LESSONS AND THOSE LESSONS MADE ME BETTER
It doesn't always work like that and go just to the level though, sometimes it can go past that level fake you out then go back downwards so even a big bearish red candle doesn't always mean its going down?
🙆Im am from South Africa,I am out of Words,as a struggling trader this has helped me 100 percent🙋.May God bless you and your family a million,may you become more n more successful. 😂 And a plus you are so funny🙏🙏🙏.
problem with trading on the monthly time frame is you need some super wide stop losses..Yes you'll get those 1000pip moves, but they take time to play out. I do like your thought process though.
He never said you should trade on the monthly time frame... You go to the monthly time frame to see the overall movement of the market then go to the lower time frame to look for a buy or sell opportunities depending on the movement of the market from the monthly time frame.
![HOW TO GROW A SMALL FOREX TRADING ACCOUNT FAST [ REVEALED]](http://i.ytimg.com/vi/bXeSQIJLTH4/mqdefault.jpg)
Bro looks like you see the future, AUDUSD, did exactly what you said, wow like forex seems like your errand boy😂, you command it. Best trader I’ve seen so far.👍🏽
Km
Yooo This guy’s Top Down Analysis is 🔥
Top down is the best
INTELLIGENCY IS NOT SOMETHING YOU ARE LACKING.
WOW! I AM JUST ENJOYING YOUR TEACHING. THIS IS LITERALLY 2AM, THIS VIDEO HAS KEPT ME UP. AND I AM STILL REWINDING BECAUSE I DO NOT WANT TO MISS A SINGLE INFORMATION.
MAN NO GO SLEEP TODAY BE THAT
I have been gaining a lot form the the free content that you share here on RUclips . God bless you dappo Willis for what you do . I must confess that your strategy really works.
For some funny reason, I've been skipping this particular video but it turns out this is the most educational video on analysis.
Thanks for the free knowledge.
I hope to make you proud.
Same here, didn’t realise there was so much great content on this channel.
Glad you enjoyed it! dont forget to hit the subscribe button for more
Wow it's an eye opener... Just imagining how the course will be... Thanks n may God continue to bless you Dapo
@@dapowillisforex truly you have said it write although I am a newbie in the biz I really agree with you that indicators or signals dies not work. What really work is having the knowledge.
your content is my everyday bread because I like the way you Top Down analyse your chats.Thank you DAPO
God bless you brother. I come from a very humble background. I have interest in trading. I have been watching videos on RUclips to learn forex but been confused till I stumbled on you. You are a blessing to me. Keep on your good selfless job. God continue to bless you
You've opened my eyes to price action analysis. I'm going to clear out all my indicators off my charts thanks to you
Awesome
Pls sir how can I get the forex mastery course @Dapowillis
So true indicators leg
Great
Me too! I'm Mr Austin, I'm your latest discipline and you resonate my actual thoughts and sentiments towards Forex trading. Keep up the good work.
😂😂😂the part u said anything this thing gives u u should be grateful some person's haven't seen any withdrawal" really cracked me and it's so true. Just stumbled upon ur channel. Has helped. I'm not a pro but I've been able to make my first 6digit this year 2022. Im hoping for more next yr that's y I'm trying to top up my knowledge. Thanks I enjoy ur teachings and ur humor.
Miriam am jealous oooo..Anyway more grace.. please would want to learn from you as well. Am just a beginner that has blown thousands of Dollars
You're Natural 🤜, your don't rehearse video, you're Real ✅
God Protect you Boss ✊
I will for ever bless the day i stumbled at DAPO. Bro you seem to be helper.... Greatest FOREX mentor. More love 💖
Honorable Dapo Willis,
I’m Carlos, and I want to give a big thumbs up for your patience and the valuable lessons you share. At one point, I understood Top-Down Analysis, but I struggled to apply it because I was overwhelmed by conflicting strategies from various RUclips sources.
I wish I could purchase your FOREX MASTERY COURSE, but for now, it’s out of my reach. However, I’ve managed to grasp key concepts and have started applying them to my Smart Money strategies.
As I write this today, I know that in a few years, I’ll be having coffee with you. Cheers! ☕
Thank you for all your videos I now see the market clearly your Top-down analysis is really how to trade the FX market
I've just began seeing profits after buying the course, though humble profits yet due to small account size. Thanks for the course.
Greetings Brother.. I am equally a forex trader although I am still struggling to make it to profitability and
I will appreciate to have a conversation with you. Give me a platform so I can reach out to you
Please respond if you get this notification
Thank you
You are EXTRAORDINARY. Giving REASONS to all moves. Thanks
Thank you 🙏
@@dapowillisforex Am joining next week by God's grace. Thank you
Great job, bigger bro. I just know you 3 days ago. I really love your content. My work is to watch all your videos till I'm strong. Much love bro ✍️✍️💯💯♥️♥️♥️
To be honest you are the best I have seen
U have changed my fx life
Thanks alot brother
Thanks buddy
Even though I didn’t get ur course but the first day I’ll get something into my life with forex money, I’ll buy you an expensive wine 🍷
You are good
sir this video is way better than I thought. you are an amazing teacher. I can't afford your course now because of family issues but will try my best sir.
Thank mentor for your wonderful technic which you're giving to us ,here on RUclips
Very nice content sir. I went through the mastery course twice and still go through it from time to time... love it
Hey bro, Can I get your telegram please. I really need your help.
Hello bros can I get the e book please
Bro can I get it pls
Greetings Brother.. I am equally a forex trader although I am still struggling to make it to profitability and
I will appreciate to have a conversation with you. Give me a platform so I can reach out to you
Please respond if you get this notification
Thank you
I bumped into your video as was looking to learn about Forex trading. I'm a learner and would greatly love to learn from you. I love your sincerity. I'm in my 60s
Thank you Dapo. And yes I agree with you regarding indicator don't work, I lost lots of money base on indicators. I will purchase the course today!
you are partially wrong
Just like yoo are talking today love this u boy ,I am new in game but I love this imagine 53yrs very soon I'll start trading learning no huury
Indicators work the have their own function but cannot be used only as a criteria for a trade , everything in trading works it's just to find out how to use it effectively.
I will give an example many people cannot spot divergence without indicators so that is one way to use an indicator
Also remember even big trades use rsi
So personally if I don't use any concept I don't say it doesn't work because someone out there is using it and making profit
Just stick with what u know and get better at it
Perfectly said
😢
How many people are using indicators that is profitable u forget so suddenly that indicators lag behind
This is really trading education that's very rich and eyes opening. Thank you Bro. Dapo... Long term is the juicy journey focus.
I love this man specially
You have an amazing sense of humour 🤣🤣
One of my favorites analysis by Dapson. Love you ❤
Dapo,I am here to goble up the helpful information from you even before starting to trade so that my success will be guaranteed.I have already gone through babypips.I hear people like boast that they have blown up several accounts as if it is a rite of passage.I do not want to blow up any account.I do not want to lazily wait for signals.I am deepening my knowledge base so that I succeed as a forex trader.Thank you for all you do Dapo.God protect and bless you my brother and friend.
I love you bro, you’re the brain behind forex in this our generation....⭐️⭐️⭐️⭐️⭐️
Love you too, Peter!
One of my best video From Dapo as reads out what one of his followers comment and it says "shut up and get straight to the point" 😅😅😅
I just finished the forex mastery course. It has opened my eyes to better understanding the forex market
Kingley how did u register in mastery course and how did in contacts with dabo willis
Thank for the value again as always Mr. Oladapo. Am hoping to stop looking for mentors and teachers everywhere on youtube and getting different course from now henceforth, Just to make the forex work for better for me. From Nigeria (Ile-Ife)
God bless you daps..I respect u a lot..May you live be blessed and receive your heart desires..❤❤
amen
Indicators don't work for you doesn't mean it won't work for others. It's like 90% traders fail and therefore all traders fail. You happened to be the 90% of indicator users who fail to know how to use indicators. But you one of the10% of traders who succeeded in forex without the use of indicators. There are others who succeed using indicators. But I agree with you, most indicators available in the market won't make you a successful traders if one don't understand market structure to know how to use indicators correctly.
If one were to combine what you taught and use indicators to execute the trade in a more precise entry level, it's the best of both worlds. Use your market analysis to determine the trend direction such as long only or short only and use indicators or algo to monitor the market to wait and execute the trade with the best optimal set up or price levels. That's the ideal for those who wants to automate their trades.
Hannah!!! indicators don't work period!!! For example do you look at you shadow while you're walking to make up your mind about your next move? No! you make a concious decision with you brain.Likewise, you use your brain to determine makert direction now and into the future.your indicators,algo as you call them and your precision entry point or level wont matter when the big banks enter the market. Ask that guy called "no-nonsense forex prop trader VP or something" he uses a combination of over 7 indicators and still loses trades.
@@karriskiarie847 if our brain decide what direction to take, on what basis it make such decisions? Even price action traders relied on the past (the shadows) to make future decisions. Unless you are relying on a crystal ball to see the future, every traders relied on the left hand side of the chart to predict what will happen in the future.
Let's discuss this topic from an objective stand point, otherwise we will be just stating our opinions based on our own bias perspective.
Firstly, let us define the real question/problem and narrow it for more meaningful discussion. The question shouldn't be "Do indicators work?" because it all depends on the users. There are users who don't know how to make it work and there are users who know how to make it work. So indicators work or not, solely depends on WHO knows how to make it work.
Likewise, if one were to ask, "Can people earn a living trading Forex?" If I were to based on the number of people who failed, which is 90% then the answer is "No, people can't earn a living trading Forex" Yet why are there still so many people still trying so hard to succeed despite years of failure? Because they wanted to learn from the 10% that made it.
Similarly, if one want to succeed using indicators, they better not go around asking those who failed using it because they will tell you indicators don't work.
To test out a hypothesis/question "Indicators do not work" from an objective/research point of view, we often seek to find the opposite evident to proof whether this statement is true or false. And obviously there are tons of people who use indicators successfully. The same goes to "Indicators Do work", likewise there are tons of people who failed. So the question lies not on whether indicators work or not but the real issue lies in "How to use indicators to trade successfully in forex?" That's the real question we need to ask.
If one already made a preconceived/bias decision that Indicators don't work, he/she will look for evidence to proof his/her point. As for me, I believe indicators do work and I too can find people who use indicators successfully. Look at the Forex World Cup Champianship 2021, the current 2nd place (who dominated 1st for the 1st half of the year), Cristian Franchi, he is an algo trade. In another words, he uses indicators only to trade because algo are purely technical analysis, no human guessing etc. Another successful indicator user is Crypto Face (youtuber) who came out with his indicator product "Market Cipher" who can earn $2mil in a couple of hours trading, he relied heavily on indicators too. The list can go on and on, so it really depends on what you have decided. If you decided indicators are not for you and you don't know and don't want to learn how to make it work, yes then indicators don't work (for you).
As for me, I have spent years developing thousands of algo and indicators work for me (if you know how to use it correctly).
Here is a list of the hundreds of EA/Algo/bot that I've dveloped (2mth results, I stoppped on 16 Dec because I need to consolidate the top EA into another portfolio) www.fxblue.com/users/hb82bene/stats?enddate=2021/12/16&rx=1639727218666#overview
The top EA earned 646 pips in 2mths. If it is used in a $10k account, it would earn 64% returns in 2mth or 32% returns per mth (risk only 6% risk per trade). For a $5k account, it earns 128% returns, risk 12% per trade.
Here is another list of consolidated EA www.fxblue.com/users/2089043746
You can't view the links using mobile device because webpage too heavy to load thousands of EA results. Click on the Stats tab and click on Strategy Tab and you will see Magic #/Comment, each number represent 1 EA/Algo/bot results.
When I say you need to know how to use it correctly, actually it really mean, you really need to understand the REAL challenge in forex market. Forex market is not purely technical analysis vs fundamental, it's SMART money vs Dumb money. That's the real market. Forex is rigged and it is aimed to make sure 90% people fail. So if you understand this, then you will learn how to use the indicators accordlingly. But if you use it purely from a technical analysis, yes you will fail using indicators miserablely.
The Smart money will take out 90% of traders whether you use indicators or price action, period. They hunt for liquidity (your stop loss, regardless what tools you use to place your trade or make that decision, price action or indicators). So if one use indicators as predictive tools, he/she will placed the trades before the Smart money moved and be taken out. So one need to be Reactive instead of Predictive when it comes to trading. React to smart money, ie trade only when smart money moved. You can use algo to watch the market 24/7 for the smart money to move and then you place the trade/position after their move. This is what I call Reactive trading, react to price movement but not any price movement.
Another way to succeed in Forex manipulated/rigged market is to aim for short gains. Every day, there are price movements created by dumb and smart money. So irregardless who moved the market, you can still constantly scrapped off a couple of pips each day. And Algo can do this job very well, it can scan the market 24/7 and enter very acurately just at the start of a significant price movement and because it enters early at the start of the price movement, it can earn a couple of pips before the Smart money turn the direction suddenly. The problem with price action traders, they waited so long for a good set up and they set their profit target so far 1:3 etc and the smart money can always turn the trend around to wipe out their stop loss. For algo traders, we can use trailing stop loss and if sudden change of direction, the Algo has already protected some gains and won't be stopped out at original SL. Hence, one can still always gain a couple of pips each day, if one knows how the market behaves each day.
From a mathematical point of view. Algo traders look at probablilty. And if one uses the indicators correctly, one knows how to set up the indicators that offers the highest probability set up.
For an algo or indicator user to succeed, he must able to tackle these 3 components.
1) Can your indicator "predict" (using reactive method) the market direction/Trend correctly? Ie do you know what's the best set up that offers you the highest probability of getting the trend direction correct?
2) if your indicator can predict Trend/market direction correctly, How long can this prediction last? Eg The indictor indicate that price is going up/long/bull and it can stay correct for the next 1min? next 1hr? next 1 day? In another words, How long can your prediction last? Sustainability. It's easier to predict price direction for next minute than for next year. Hence the shorter the duration of the sustained period, the higher the accuracy rate.
So the question is how do you find an indicator that can predict the Trend/market direction correctly according to your trading style? If you are an intraday trader, you will want to find an indicator that can predict trend correctly at least for the next couple of hours. And if you are a scalper you will want to find an indicator that can predict trend correctly for the next couple of minutes or at least for the next 1 or 2 hours. And if you are a position trader, look for prediction that can last a couple of weeks or mth.
3) if your indicator can predict Trend correcly for the a period of time, the next question is "What's the average pips can it stay correct before it goes wrong?" What's the pips value of your indicator accuracy? If my indicator can predict trend correctly for the next 6 hours but the pips movement is only 1 pip, then it's not worthwhile. So I need to find the set up that gives me a more worthwhile return vs risk (accuracy)
Eg, If my indicator can predict Trend correctly for the next couple of hours and usually it managed to earn an average of 20 pips each time, then this is where I aim to stop my trade. It helps me set a realistic expectation of what I can get out of the market. Many people set their target so far away. The further you set your target, the greater is your risk exposure to be taken out by the smart money. The aim is to take out your profit before the smart money takes yours out.
@@hannahis3254 the issue of whether the indicator work or not is subjective, as you know the market ranges 70% of the time, during that time I found out that I can't really depend on indicators to execute any trade coz of the consistent false signals indicator's give. If!, you or any other person find success with indicators fine that great, who am I to tell them otherwise. anyway it was good chatting with you. Happy day.
@@karriskiarie847 Happy Holidays ahead and I wish you a fruitful year in 2022. Nice chatting.
As for sideway market, you need another type of indicator to help you identify market is in ranging patterns, try Bollinger Bands or Std Deviation to identify ranging or side way markets and you can decide whether to stay out of these times or switch to ranging trading mode, ie take short gains
Different traders have different definitions of ranging markets depending on how long term is their trade targets. To some 50 pips is a mini trend or others 50 pips is ranging.
The best method is to find indicators (adjust the default settings) that suit your trading style (ie shorter parameters for shorter trading targets). You will be amazed how things look if you think out of the box. I don't use the indicators in the usual default settings or perspective. 1st I understand what the indicator is really measuring and next I ask myself what am I looking for? Eg How not to trading during ranging, then I asked myself which indicators are best in measuring ranging price within certain bands or range? I find BB one of the best indicators for identifying ranging and trending markets, more reliable than price action.
Courtney Smith is a very seasoned trader over 50 years of experience. He thinks finding trading strategies is the easiest part because he found simple methods to trade but traders need to discipline and psychological fortitude to carry out the trades. Here is a guide on how he used Stochastic to make lots of money. ruclips.net/video/DpyyRQtSaEk/видео.html
Lastly learning to build algo with be the next best step if your trading strategies can be coded. Not all trading strategies can be easily coded.
Most people who sell their trading strategies use very subjective trading methods so there is no guaranteed success. If people who use indicators are successful, they aren't likely to share their actual settings or strategies because it is guaranteed success because successful non subjective indicators strategies work for whosoever and no one will share or sell it. That's why you hardly see people share how successful they have with indicators because that will be giving their trade secrets that give guaranteed success for free. Hence we only ended up hearing people who failed using indicators. I don't share in details how I use indicators successfully nor will I sell my algo. That's the dumbest thing to do. I only share that it is possible to use indicators successfully and the rest is up to the person whether he wants to venture into the uncharted ground that many only explored those charted grounds and failed
How do I know my method works? Even my 10 Yr old son knows how to trade (based on my indicators, successful indicators are so easy and non subjective to use that even a 10yr old person knows how to use it correctly) and his win rate is 94% with 14, still counting, winning streak. He trades manually. Made 183 pips in 3 wks. With profit factor 22.67 and 1% weekly returns. Risk reward ratio 5.52. And he trades multiple currency pairs, whichever pair set up is ready, he will trade (I created a market scanner for him, at a glance, he can see which pair, both fx major and minor pair is ready to trend) and then he will go to that pair chart to analyse further using indicators to confirm whether to trade or not.
Lastly, I think it's a pity when people decided indicators are not for them because they closed the door to one of the opportunities that can give them success. In forex, it's hard to succeed and if one closed a door to success, he reduces the probability of finding success, because he now has to rely on trading using no indicators. That's pretty dumb in my opinion. Even if I trade with price action, I still rely on indicators to help me understand the underlying market momentum
I have really enjoyed the class. Just a quick one how long should one take before they can check how the trade is playing out.
Knowledge at its peak ❤️
Thank youuu
You're doing a great job... I'm one of the struggling traders.
I have always enjoyed your lectures
Deadliest trader of all time.sir(RESPECT)to TOP G❤
you can beat that person that is consistent
Thank you for your dedication and hard work towards teaching us ❤
Always rewatching for knowledge 😊
mindset is everything!!!!!!!
Sir i love you because you have changed many lives ❤❤
Dapo you are simply the best
I'm really grabbing your teaching bro love you ❣️❣️ thanks for information 😂😂
The knowledge is super and the demonstration funny...
Nice content Daps.
Asides the analysis, your mentality and patience needs to be studied...thanks boss daps
I am happy to join this channel, i know i am going to gain knowledge from you Dapo.Thank you..
Welcome aboard! kindly subscribe for more
🤚 Tired, & struggling.. yes that is me right now. I need something that shows me how to get over to the other side...to begin profiting. Been at it for a long while now.
I.m gonna get your course!
😊
I love this class, please don't mind them
Xup
Am new but with you l hope I will soon cope
God bless you 🙏🙏
Am seriously learning. Am blessed. Thanks
I love your analysis, please keep it up
So with the way u trade, do u wait for months or even a year before u are able to find a refined opportunity to trade
Thank you sir what you're saying is the absolute truth. I have been a victim of this, i it costed me more close to 10 accounts blown. 😢 always trying to trade all the time. These key trade psychology facts are worth paying. BUT Inever gave up, rather i have learnt from my mistakes
Please don’t give up, it gets better
Boss Dapo I grew my account from 5$ to 247$ then manage to purchase 10,000$ account then blew my live account because I want emotionally strong this week
Just want your advise
Nice presentation brother.
Thanks for the info!! Are you a day trader or swing trader?
Honestly, I was made to conclude that Forex is a computer game, after I lost over $6k in my several trading. Am beginning to have a different mind set after this your video. Thanks for the awareness.
Thank you so much for this video.
Your prediction on EURUSD worked out this January.
After touching that zone, hope it will retest it?
BRO I KEEP TELLING THEM THAT INDICATORS ARE THERE JUST FOR TRADERS TO MAKE MONEY OUT OF LAZY TRADERS. BUT THEY DONT WOOOOORK
I WASTED MY FIRST YEAR WHEN I FIRST GOT INTO FX
I WISH I GOT FIRST PEOPLE LIKE YOU I WOULDENT HAVE WASTED MY MONEY BUT ANYWAYS
I LEANT MY LESSONS AND THOSE LESSONS MADE ME BETTER
Glad we are on the same page...indicators dont work
Boss what do you mean by holding your trade🙏🏼
Thank you very much sir I really appreciate your m
afford to help us understand fx in an easy way
Wonderful presentation
Thank you coach price actions brings peace of mind
Please sir what if it reacted from that yellow zone on audusd where will you place your stop loss
Thank for this dope eye opener 🙌 👏 👌 thanks so much 🙏 .
I really really really enjoyed this video sir🎉❤🎉
Glad you liked it
You are an eye opener
It doesn't always work like that and go just to the level though, sometimes it can go past that level fake you out then go back downwards so even a big bearish red candle doesn't always mean its going down?
I REALLY APPRECIATE THE WAY YOU TEACH BRO AM REALLY INTERESTED .
Amazing content...which books you refer for price action?
Great work Sir. Thanks for pouring your knowledge into thousands.
Based on the monthly time frame it looks more like a swing trade. sort me out please😊
🙆Im am from South Africa,I am out of Words,as a struggling trader this has helped me 100 percent🙋.May God bless you and your family a million,may you become more n more successful.
😂 And a plus you are so funny🙏🙏🙏.
Amenn, thank you
Thanks for forex knowledge and insight Dapo 👍 Julius E. U.K
My pleasure!
God bless you Boss
How do you draw your major levels?
Wow! This is awesome. Thanks.
Please sir can it just be one candle on the monthly that can be a retest
How long it takes to reach the 1000 pips ?
Dapo the best 🎉🎉
I am really learning lot from you God bless you
Hai Mr D plz can you go back down to show us how to set stop loss,I learn most but difficult to set loss take profit.
I love you brother.
U're damn good @ what you do
Great 👍 even though the videos are 1 year ago l will watch all Sir
problem with trading on the monthly time frame is you need some super wide stop losses..Yes you'll get those 1000pip moves, but they take time to play out. I do like your thought process though.
nah, if you trade on the lower time frame yiu could use a 30 pip stop loss for 1000 pips profit
Even low Time frames, you wat a you talking about?!
Work on your psychology... Your statements says a lots about it.....Don't sit and watch Market... Invest.. Place your controls and stay away.
He never said you should trade on the monthly time frame... You go to the monthly time frame to see the overall movement of the market then go to the lower time frame to look for a buy or sell opportunities depending on the movement of the market from the monthly time frame.
I want to use the tradingview
On what time frames do you draw your major levels?
Is there any training software or robot that can be used to make profitable trades?
I'm sorry I can't give you any advice on that, I don't use robots.
on what platform do you trade bro
How do i pay and join the team @dapo Willis you are really and inspiration,I have learnt alot just from your RUclips channel.
betty adu hi Betty, send me an email - dapowillis@gmail.com
16:00 i love your 9ja sense of humor. lol.🤣🤣🤣🤣
Please how do we pay in the Forex mastery program, the only option I am seeing is inputting my card details
And my card is a Naira card
How long do you hold a higher time frame trade ?
great work, keep to that Dapo
ehhh, Guy you be real ooooo!, calabash na kill me hahaa... But thanks a lot, u are the one that deserves by tuition ohhhhhh, only you and my father
how can I join your class ?
U the maestro
Thankyou Mr Dapo