MYFXBLOGKE is a forex blog started for retail forex traders to learn from each other, share ideas and also help with the availability of the Much Needed Accountability Partners.
There are few genuine online communities where retail forex traders can meet and share ideas before someone tries to sell or scam them.
The main product for this forex blog is Idea Exchange.
In the forex blog, I will be documenting my trading journey as I will start trading on a live account. I have just enrolled in a Proprietary Trading Firm and I will officially start trading on 31st January 2022.
I intend to be very transparent and will leave a comment section after every blog post. This will go in line with one of the main ideas of this blog, Sharing Forex Trading Ideas.
In addition to the comment section, there is also a Forum page where we can further talk about ‘our’ trades.
I started forex trading in 2015, I have acquired much needed experience during this time.
Access to a top-notch full-stack programmer quickened the learning curve. This helped develop my trade ideas into Expert Advisors (EA).
Explaining trade ideas to a programmer and getting to see the final EA (whether profitable or not) helps the trader’s mind in coming up with Trading Systems. Grateful to God for making access to a good developer for that long. We finally managed to develop profitable Forex Trading Systems by 2020 and final tweaks in 2021.
The plan is to be a profitable trader tapping into the abundant knowledge source that can be found in a caring community and also share all the knowledge acquired.
The Trading System Development Overview
The Forex Trading System Development has been long and tough. There will be no mention on Binary Options even though it is the one I started with. Will immediately jump to Forex.
Tempted to call Binary Options Scams but my parents taught me against name calling. I will simply say Binary Options ‘Trading’* is not Sustainable.
The first systems developed were on 1 Minute Charts (there was a desire to go lower and we would ask people in Forums if they know Forex Brokers who offer trading timeframes of ticks).
We quickly learned that lower timeframe trading was on a different level and we moved up to develop systems for 1 Hour Charts. The move was quite huge as we skipped 5 minutes, 15 minutes, 30 mins, up to 1 hour.
Dunning Kruger anyone, No? OK, moving on swiftly.
I must add that since all our EAs gather all parameter details in CSV (especially during development and testing), our decisions to drop parameters or whole systems that don’t work is quite fast as numbers Don’t Lie.
Basically, this is why I love Math, if the calculator tells you 1 + 1 is 2, it is 2, it can never be 11 or 8 and half and color blue.
1 Hour charts produced mixed results, occasional good returns, but also some losses that would really do damage to the equity curve. The results were not sustainable for us to depend on trading for our livelihood. Honestly, we knew there was a great improvement from our 1 Minute Chart days, but there was still a long way to Consistent Profitability).
Light At The End Of The Tunnel
With more wisdom, Dunning Kruger realization, and Data-Driven Analysis, we moved to Daily Chart Trading. Meaning we look at Weekly and Monthly Charts, and trade the Daily. I must say this is when we started looking for Prop Firms.
Now Happy, BUT, we are still open to any good ideas out there. Hence the comment section, contact us section, and Forum pages.
This Forex Blog is for You and Me., Ubuntu
Looking forward to meaningful and profitable interaction for us Retail Forex Traders
May all our trades hit our Profit Targets. 😊