The Best Forex Trading Stack

Questions and Comments
#1

Hello, I’m planning to give the next years of my life to my trading journey.
I already know exactly what I need to do, and will be working 12+ hours everyday.
So I’m either achieving all the goals I have set for myself or die trying.

What I’m trying to achieve with my stack is the ability to be indistractable, and having unwavering focus to be able to build and master my trading edge.

After looking around I thought these 3 would be the best for me:
Emperor Black / Quantum Limitless / RICH Crypto

My question is, would this be the perfect stack for what i’m trying to achieve, or is there anything you guys recommend swapping with something else?

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Stacks for creating trading bot and more
#2

Hello and welcome.

Having studied trading for over three years I could share my two cents. In my opinion Forex trading is almost exclusively a “game of risk.” I have read countless trading books over the years, tested hundreds of bots and still know virtually every indicator-based strategy and technical analysis method out there; as well as price action (I have Steve Nison’s most expensive course, it’s the guy who brought price action to the West, from Japan, back in the day—oh and yes, even the candlesticks are thanks to him!).

Trading Rush on YouTube is good. He tests a lot of strategies hundreds of times and ranks their results by a list on his website. The most profitable strategy out of the hundreds he’s tried is the ridiculously simple 200 EMA and MACD crossover strategy. I believe the next one on the list is some Donchian-channel based strategy. Personally I fell in love with the Ichimoku Kinko Hyo trading system; however, the result was no better than any other well-known or reputable strategy.

The “random walk” theory seems quite applicable in a lot of cases: Random Walk Theory: Definition, How It’s Used, and Example. Even if you trade randomly, with lots of capital and patience, profit can be made based on the risk-reward ratio.

Now—I’m not saying it is impossible to trade successfully and make a lot of money fast, and though the odds are much against you and much more so than generally believed—there have been anecdotes of people exploiting patterns by using deep learning or AI-based tools. Whether or not these make predictions or just trade randomly as scalping with good risk management I do not know. Maybe a combination of following the trend and managing risk in optimal ways. Such successful bots are extremely rare and I’ve only ever witnessed two anecdotes of it from (seemingly) trustworthy people.

Again, the ridiculously simple 200 EMA and MACD strategy seems to result in a lot of profit with the strict risk-reward ratio, but requires a lot of patience and capital to be viable.

NOTE: All of the above is relating to Forex only.

The most successful way to master trading though is to sell trading bots and indicators with exaggerated claims.

With that being said—House of Medici, RICH Crypto and Emperor Black would be a good stack to consider to achieve your goals, in my opinion. House of Medici helps understanding finance; RICH Crypto helps with trading the markets; Emperor Black helps you focus relentlessly on your goals, and is especially suitable as you want to spend over 12 hours daily on this endeavor.

Others may have other stack suggestions that are more suitable.

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#4

I did try HOM and emperor black. for two cycles.
The focus was high but i was more in an exploration of the possibilities .
IT helped me greatly to find my path.I have stopped this stack because EB
monk mode is no joke so i felt the time has come.
I’ve also done several Rich crypto cycle in solo and it a lot helped a lot it is more focused and
if you just worried about being profitable i think this is the faster way , because HOM and EB seems to be
very dense subs.
3 days ago i decided to stack HOM and Rich Crypto .
but if you check The rich crypto description there are 3 stack recommendations.
one with Stark another with HOM and the last one with “limitless executive”.
since i have stark and HOM i will give them a try.
but the third one might be right for you

#5

What is your opinion on automatic trading program which had one year backtest of around 316% profit and RRR is 1:1.6 ?

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#6

Obviously I am not MavericKobra but I can contribute to this topic.

I have been trading forex for a few years and have tried a number of EAs. All of them had a great backtest, but failed after a short time. Backtesting only reflects the past and how an EA behaved in the past. It says nothing about future market movements.

Manual strategies I have tested did not work for me either. With or without indicators. After paying a lot of money for education, I quit Forex and cannot recommend it to anyone.

95%+ of all retail traders lose their money in the long run. I was not one of the rest who really made money in Forex. Also do not forget that brokers often play a dirty game, even self programmed EAs that are not mainstream can be sabotaged the more successful they are.This is in addition to the big boys in the business who just shoot prices up or down.

I always found Forex exciting and had several accounts with different brokers. The best EAs you could buy for money with my own vps to always have a good connection. None of this helped me and I would never trade large amounts. I mean from 50k upwards. Only then it becomes really exciting, but who can risk such sums. Forex is like a big casino. Stocks make 1000 times more sense.

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#7

the problem with automatic trading is first you have be able to properly replicate your logic and trust me this extremely hard.
then even if your strategy works on on instrument it might not work all the time .
i have seen examples of strategies that would give you positive result on a certain session but would fail on the other and i’m not even talking about news coming into the equation.
i My self have a tested a pretty good combination of three indication for my entries and strategy.
but when trying to get it works with a robot it’s a totally different game.
it would not recommend automatic trading whether you are going for forex or stock.

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#8

I have already programmed my strategy and it has one entry per day only after London 7 am, so on 8 am and later, depending if logical inputs are met. And it is only on one specific pair.
But was just wondering from experienced forex users if it could be successful in the long term.
I will see.

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#9

Be careful with high stakes. If the strategy works over a long period of time, you can work your way up and take out your bets for the time being. After that it doesn’t matter if you win or lose.

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#10

I understand your concern.
At this point only time will tell. because every strategies have to be updated to the market conditions.
I can’t tell you that you won’t succeed, but based on my experience of a "nearly "profitable trader
it’s 50/50.
good luck i hope you find the key to success.
also isolation is one of the worst part of it.
i would recommend joining a serious trader community .
sharing ideas is always better and gives you perspective.

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#13

Here’s some advice from someone else also on the trading journey:

Read Tom Hougaard’s book “Best Loser Wins: Best Loser Wins: Why Normal Thinking Never Wins the Trading Game”.

Psychology and risk management are the primary reasons why market participants lose money over time, and this becomes abundantly clear when taking into consideration the fact that trading systems with even a 20-30% win rate can be highly profitable.

I have intently studied and invested time in learning futures trading (the ES/S&P 500), which shares similarities in terms of relatively low barriers to entry to Forex. Before this I’ve invested in stocks (including the high risk stocks of 2020/2021) and cryptocurrencies, experiencing both the euphoric highs and devastating lows of not practicing strong self-discipline, mindfulness, and humility. I’ve experienced six figure losses and gains, so I am no stranger to risk.

You can succeed it if you remain as dedicated as you feel right now. That said, do not kill all of the fun of the process. Know when to take a break and when to celebrate yourself for positive progress. Trading is a surefire way to know thyself, so ensure you like being with yourself along the way.

Successful traders become successful in part due to implicit learning (aka practice and exposure to charts over time). Find the few instruments and timeframes you wish to trade and stick to them nearly exclusively. They have slightly different characteristics, so developing a feel for a currency pair’s unique movement will pay itself off greatly.

Lastly, price action knowledge is the foundation of all great trading. While different trading instruments have different personalities (like people) they all function the same way fundamentally (again, like us humans do). Price action can be used on any chart and on any timeframe. Mack’s ‘Price Action Trading’ or Thomas Wade’s videos are nice and affordable/accessible/free resource if you’re interested in learning ways to chart cleanly without excessive indicators.

Have fun, and congratulations on taking the first steps. Doing it every day well for a few hours is better than half-assing it for twelve hours a day, so just listen to yourself and you’ll get where you need to be.

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#14

Any update on your Forex journey?

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#15
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#16

Lol don’t tease us :upside_down_face:

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#17

It is just backtest, it does not make rain yet :slight_smile:

#18

Still… that’s pretty good for step 1.
Which app/client do you use?

#19
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#20

Just a casual backtest of May 2023
Max DD -4.64%
@GoldenTiger

image
image1434×831 71.8 KB

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#21

Let’s continue here guys
@Psiklou

I am trying old fashioned manual style, rn I am just backtesting, but my target is the same as yours @KingofClubz

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#22

I am interested in Forex now that the crypto market has crashed down for good and @KingofClubz post got me excited :slight_smile: I will deep dive in the subject when I am free in a few weeks. I have found some Udemy material about the EA and MT4 automated software that appeal to the geek in me.

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#23

EA could be a good thing. I am not a newbie to this, I myself have created an EA system in Pine script and before was trying manually trading but never with any big success.

Until I came across this post here on the forum.

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