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The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors.

What is the Secret to Making a lot of Money in Forex ?

  • First it is to identify the currency that has the biggest chance to appreciate.

  • Second it is to identify the currency that has the biggest chance to depreciate.

  • Third is to match those two.

The Winning Strategy Is . . . The Simplest One !

There are many losing traders in this business. They think that they must be different, innovative and original to succeed. Yes, all that may be true, but unfortunately for them they choose an approach that is far too complicated. Being different and original does not mean that you have to use the more complicated system! Keep it simple. All the top traders will tell you that trading is easy. The famous trader Dan Zanger trades nothing else but a triangle pattern and he turned 10,000 dollars into 42 million in 23 months!

Another top trader, Larry Williams, (blog) trades well-known patterns. People wouldn't believe he could make a fortune trading simple patterns. He turned 10,000 dollars into one million and won the World Cup Championship. He taught his daughter Michelle Williams (biography) how to trade and she won the same competition when she was sixteen! Sceptics asked him to repeat these amazing results and he did.

Don't believe ? - Just Google it and see for yourself!

Most people are trying to succeed with help of sophisticated software and extremely complicated trading strategies. They sit in front of a computer screen all the day, but they still end up with losing trades. On the other hand, there are also some 'lazy' traders who trade a simple pattern once a day. They wake up, send an order to their broker in one minute and go swimming. They earn thousands every day and we call them top traders.

What a joke !

Scientists are continually trying to understand the Universe and they build theories that become incredibly complicated. As new experiments are carried out and new results are proven, they can succumb to the temptation to fit these results into their theories, rather than changing their theoretical assumptions to fit the results! Sometimes the whole theory fails. Experience has shown that the simplest theories survive. Never forget the rule of

Occam's Razor:

    ● If you have two theories that both explain the observed facts, then you should use the simplest one until more evidence comes along;

    ● Scientists must use the simplest means of arriving at their results and exclude everything not perceived by the senses;

    ● If you have two equally likely solutions to a problem, choose the simplest;

    ● The explanation requiring the fewest assumptions is most likely to be correct;

    ● The simplest explanation that covers all the facts is usually the best;

    ● Keep things simple!

“Everything should be made as simple as possible, but not simpler.” – Albert Einstein.

Occam's Razor philosophy is applied to many areas such as biology, medicine, religion, statistics... and of course Forex Trading. Too often currency traders spend so much time trying to understand a system that is so mathematically complex, that they never get to apply it. 1minutedaily.com teach a system that is easy to learn and put into practice, right out of the box. A complex theory of Forex Trading is not what day traders need; they need an empirical system that works and has been proven to work, over and over again. That is exactly what you have here in your hands now, a tool that works. . . . . 1minutedaily.com



Wednesday, 19 May 2010

First Job Today

MetaTrader Shortcut List on a "Post It"

F1 Help
F2 History Center (centre)
F3 Global Variables
F4 Meta Quotes Language Editor
F5 DUNNO YET
F6 Strategy Tester
F7 EA Properties
F8 Properties
F9 New Order
F10 DUNNO YET
F11 Full Screen
F12 Step by Step

CTRL + D Data Window
CTRL + G Remove Grid
CTRL = I Indicator
CTRL + M Market Watch
CTRL + N Navigator
CTRL + R Strategy Tester
CTRL + T Terminal


Don't like writing in American English – Makes me forget my native tongue – English - Needs must !

Most strange – my Optimization Graph differs from the picture – I wonder why ?

optimisation 1


You Plonker Rodney – you've only gone and changed Range_Hours instead of Range_Start

plonker 1


Not covered in the manual  What do you do with it - Do you save it - If so so where ?

save as


tester file came up as default - I decided rightly or wrongly to play safe and create a My Tests Folder with my own file name.  IT  WOULDN'T  SAVE - eeny meeny miny moe - IT  WON'T  SAVE  ANYWHERE - cancel - SHoneT !!!

Do I click the Run button ?  More SHoneTE . . . . . . . . . . it's not exactly user friendly - this manual.

Close my eyes - press OK - wait for the bang ! - optimize (optimise) again - whilst I write here.

I just don't believe it ! That's it I'm going for a cup of tea.

optimisation 2

plonker2

For some unknown reason . . . The Breakout_EA won't stay put . . . whilst I am trying to change the second - the first changes ! - HIT THE RESET BUTTON - Still No Good !

Looks like an email to support.

Sent; Chapter 1V.1 - set the parameters - where do I save ? - do I load ? Thu, May 20, 2010 12:09:43 AM

Received; the process of modifying the parameters is explained in detail in; Chapter II: How to customize your DailyEA Thu, May 20, 2010 8:20:31 PM

Reply; With respect there is No Mention of the SAVE & LOAD BUTTONS anywhere. Thu, May 20, 2010 11:51:46 PM

Received; thank you, we will save the set of parameters and make it easy to download with the next update. Fri, May 21, 2010 4:10:40 PM

Reply; English is not your native tongue - is it ? Fri, May 21, 2010 5:25:22 PM




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