Forex Trading - How to Pick Tops and Bottoms Properly

Get forex trading signals with http://www.bkforexadvisors.com, learn to trade forex and get forex trading strategies from Boris Schlossberg Kathy Lien

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[BKTraderFx]

Everything I describe I trade with my own money in REAL time - that why I use Oanda which marks my trades so that no one can accuse me of just cherry picking the charts. As you you can in the video I get stopped out a lot. But in the end this strategy made 75 points last week and I posted the equity curve to show its progress.

I welcome any critique you may have- but next time try to make your argument on facts and analysis, rather than just broad generalities.

[BKTraderFx]

tech you are entitled to your opinion - but your criticism of the strategy is totally without merit.

I suggest you actually LISTEN to the video instead of bloviate about the "risk" in the FX market.

Of course this is a low reward strategy - but it is also a low risk strategy because it uses very tight 10-15 point stops. If you abandon that key component of the strategy then you will do doubt blow up.

[makofski]

why didnt you play shorts at 5:21 and why shouldn't we ?

[pierneus]

Sorry dude, I'll have to agree with "teach". Your strategy can't work for two reasons:

1) you can't base your entry/exit points on indicators. Any professional trader would tell you that indicators of any kind don't work, you should ONLY follow price action and the candlesticks.

2) The risk/reward ratio is really unfavorable and the 5 minutes chart in the forex equals committing suicide

[GrummelGrammel]

Hello BK,

thank you for your videos!

What programm do you use for your equity curve shown in the video?

Thanks a lot

[techn0genius]

And it all looks so good when u can say u buy in retrospect... Someone who is good at this would already have sold it on it's way down... And never trade using 5 mins charts... Unless you're a scalper, trying to scalp 5-10 pips each trade... only to be wiped out in a trade again you... Nothing against you Boris. I love to read your views and analysis, but I wouldn't trade with you or your strategies. Sorry about that.

[techn0genius]

I think this strategy is totally useless... Looking at 5min charts?! You're looking at only 10-20pips for your profit? That's pretty lame when you consider the risk in the forex market. Bollinger bands rarely provide any useful guidance in runaway markets of 200-300 pips. I would wait a long time before I use this in my own setup. Esp. to buy when it break from the lower band?! And how do you determine the key "00" levels? This is a super-risky "strategy"; if you can call it a "strategy"...