Ciao a Tutti,
as we said yesterday, next week we are releasing FuturoFX Indicator. We have received so many requests about this tool that we could not keep private anymore
There a lot of ways of using FuturoFX and we have explored only a fraction of them so far. Making it public will probably uncover many more possibilities for the benefit of all PimpMyEA members.
There are at least three ways of using FuturoFX Indicator that I can imagine at the moment:
- for scalping
- for placing bets with binary options
- for entering pending orders at the end of the day with fixed SL and TP levels
FuturoFX is very different from the many indicators based on technical analysis that are installed into our MT4 platforms. First of all it really is a trading assistant, more than an indicator. And secondly it displays information in the future, not in the past. In my opinion this has some pretty amazing effects on our psychology as traders. When I enter a scalp trade with FuturoFX running on my platform I’m constantly warned about the possible outcomes of my trade. The price action displayed in the future makes me remember all the time that price can zig-zag a lot before reaching my take profit. So I should not freak out just because I see some pips against my trade. On the other hand FuturoFX can also suggest that the outlook for the next bars is not in my favor anymore. So it is much better not to fall in love with that trade and close it before it’s too late.
This morning I spent 2 hours with FuturoFX running on a couple of EURUSD charts and as always the scalping was easy and profitable: 6 trades for a total of +28 pips (280 USD trading 1 lot; you can click on the image below to see the statement).
Since may of you asked, here is the basic trading logic for using FuturoFX as a manual scalping tool:
- keep FuturoFX opened on two timeframes (e.g. M5 and M30)
- make sure the “average projection” and “best projection” on both timeframes are in agreement
- if current price is still “low” compared to a bullish projection, then you can consider entering a Long trade
- if current price is still “high” compared to a bearish projection, then you can consider entering a Short trade
- place the take profit taking into account the projection and relevant support/resistance areas you can spot in the last few bars
- if FuturoFX drastically changes its outlook, you should modify the take profit or close the trade
I hope the experience I’m acquiring with FuturoFX Indicator can be the base for implementing an amazing scalper EA. Also the feedback from the users will have a strong positive impact on this process.