Jim Brown - MT4/MT5 High Probability Forex Trading Method

MT4
High Probability
Forex TradingMethod

Jim Brown

Copyright 2016 Jim Brown

All rights reserved.

Disclaimer

This book is designed to provide information that the author believes to be accurate on the subject matter it covers, but it is sold with the understanding that neither the author nor the publisher is offering individualized advice tailored to any specific portfolio or to any individuals particular needs, or rendering investment advice or other professional services such as legal accounting advice. Professional services should be sought if one needs expert assistance in areas that include investment, legal, and accounting advice. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using this information will generate profits or ensure freedom from losses. The trade examples provided were hypothetical only and were prepared with the benefit of hindsight. No hypothetical trading record can completely account for the impact of financial risk in actual live trading. Additionally, this book is not intended to serve as the basis for any financial decisions, as a recommendation of a specific trading system. Your personal financial circumstances must be considered carefully before investing or spending money. No warranty is made with respect to the accuracy or completeness of the information contained herein, and both the author and the publisher specifically disclaim any responsibility for any liability, loss or risk, personal or otherwise, which is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this book.

Contents

FACEBOOK GROUP

Introduction

I am a full time Forex Trader. This book will provide you with a reliable and robust trading method which I refined over many months of manual and demo testing, and now live trading. I use the very popular MetaTrader platform to trade. This is more commonly referred to as MT4 and there are many reputable brokers that offer this platform.

Although I concentrate solely on Forex trading myself, I see no reason why you could not trade this method on other financial instruments offered by many MT4 brokers. These may include: oil, precious metals, commodities, stock indices or even individual stocks. There is a great deal on offer and I appreciate that not everyone is a fan of Forex trading.

This particular trading method can be traded on any time frame you choose. Personally, I prefer the 4hr charts or the Daily charts. These are time frames I am comfortable with, but again I understand that there are different strokes for different folks when it comes to time availability, preferred time frames and lifestyle choices etc. I will endeavor to show a few trade examples from different time frames to cover all of the bases.

You will need access to MT4 to use this method as it relies on the use of custom indicators which I had specifically built for this platform. You may not wish to conduct your actual trading off an MT4 platform but you will need to at least download a free demonstration version to enable you to conduct your trade analysis, and you could then place your actual trades on your own preferred brokers platform.

If you do choose to open a live account with a MT4 broker, before making your decision on which broker to go with, I would like to recommend that you contact Justin and his staff at http://www.forestparkfx.international/?r=forestparkfx.

They will be able to match a reputable broker to your specific needs. It does not cost anything as they are compensated by the broker, and to make things even better, there is a chance that you may actually receive cash rebates back into your brokerage account as a result. I am not affiliated at all with Forest Park FX. I am however, a very happy customer and I would not recommend them otherwise.

Custom Indicators Required

As stated previously, there are a number of custom indicators required to trade this method. These custom indicators are as follows and will be provided with the downloadable package at the end of the book:

MACD Platinum

QQE Adv

QMP Filter

If any readers would like to build their own custom indicators based on these MT4 coded indicators, I would be happy to share the source code with you so you could arrange your own Programmer to build something similar on a platform of your choice.

The method also involves the use of multiple Moving Averages. These are a default indicator that can be found on just about any platform. Traders have been using these for years, as they stand the test of time.

I will also supply you with an MT4 template that you can add to your platform which will ensure your charts look the same as mine. It is up to the individual whether you want to use this, or whether you would rather design your own (you may not like my dark charts). In the downloadable package, I have also included a customized Excel spreadsheet to assist you with multiple trades if you are trading a specific way that I will mention later in the book. I have also added one other custom MT4 indicator called the i-ParamonWorkTime which may also be helpful when trading specific times of the day. It is not essential to the method, but it can make things a little easier.

If you are unsure how to load custom indicators or a template on the MT4 platform, you can access my YouTube video at:

https://www.youtube.com/watch?v=Ymuxe_X32vM&feature=youtu.be

It is very simple if you follow the instructions. That particular video was in relation to a method from my first book, Forex Trading: The Basics Explained in Simple Terms and the principles are basically the same where you have custom indicators and a template to load onto the MT4 platform.

Mac Users

I am not a Mac user myself, but another person informed me that he hit a snag installing the templates after watching the YouTube clip. He found that he couldnt drag the Modified MACD template across.

In the end, he used a program called PlayonMac to get the MT4 platform, but when he couldnt get it to recognize the file he discovered he had to copy and paste it from the folder in the wine library to the folder thats also in the wine library. You cant transfer it straight from your file.

Following is a link to a video, created by Reginaldo Spenciere in my Facebook Group, which may also help you install MT4 on MacOS.

https://drive.google.com/file/d/0B_AEu6aY44rFZFZudE1JWnlkbDQ/view

My Thoughts About Indicators

Many will tell you that all indicators lag. What they mean by this is that they react or present after price has already moved so they are too late to the party because price has moved, leaving the indicators behind. There is probably some truth in this, especially if you were looking at a Moving Average cross or something similar. But please do not discount the use of indicators. When used in conjunction with each other they can prove very beneficial. Also keep in mind that the same people that criticize indicators as lagging, more than likely rely on price action for their trading signals. And as you have probably heard me say before, price is king, but that is not to say price wont blow through any support and resistance level, fib level, trend line or Elliot Wave analysis that the price action trader is relying on. Both methods have their advantages and disadvantages.

No one, and I repeat, no one knows where price is going next!

What we are trying to do however, is give ourselves an edge. We all try and trade a method that we are comfortable with, practice it thoroughly and become so in tune with it that it becomes second nature to us. Well, that is the plan anyway. What works exceptionally well for one trader may be a complete