 Hello, I hope people can hear me and I hope people can see me This is Ilan. How are you all from all over the world? It would be great if you could just give me a thumbs up To let me know that you can actually hear me. Okay Let me see. Yes, great. Thank you. Thank you that really really helps You don't know what it's like to be on the other side of a webinar and just have no no feedback whatsoever So, thank you everyone. Hello from Italy. I see people from all over the world. You're fantastic Before we get going I'd like to read you a quick disclaimer And I hope you can see that on my screen And tick mill does not give financial advice if in doubt, please seek independent financial advice all comments stated in this webinar Do not reflect opinion of tick mill as a company whilst this presentation has been prepared to the best of our knowledge Tick mill will not be held liable for any inaccuracies or errors found in the documents Here's the risk warning CFDs are complex instruments and some with high risk of losing money rapidly due to leverage 70 74 percent of retail investors accounts lose money when trading CFDs with tick mill uk limited and tick mill europe limited respectively You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Okay And and i'm laughing because I just see randy coming through Sounds great from texas because randy. I happen to be in texas So if you don't know who I am and i'm a new face to you. My name is ilan asbel I am currently the ceo and one And one of the initial founders of of autochartist i used to be a trader myself On the janisberg stock exchange. I've got a lot of experience in trading not only in autochartist itself But in general trading questions. So You can hit me with any Any questions you you you want to ask me again not only about autochartist about trading Etc Um, obviously i'm not from tick mill. I'm not an employee of tick mill. I'm here as an independent third party And one thing i've got to tell you is that i'm not here to sell you anything whatsoever So put your guards down. We're here to learn purely learn No one's here to sell you the tool i'm going to be showing you is free to use from tick mill There are some advanced enhanced features if you have meet a meet a certain minimum deposit level, but Other than that, uh, it's uh, there's there's really nothing no one's trying to sell sell anything. So let's try let's try to become better traders Uh, so today's webinar is going to be focused on how to use support and resistance levels in our trading And uh, many people ask me what are support resistance levels? The markets are really, uh, sorry if i ever look right, you know that i'm actually just trying to get myself a drawing tool So the markets are really driven around market psychology You see these tops and bottoms happening all over the place, right? There's a little peak over here tops and bottoms This is all market psychology. That's showing here. This is Overbought the price of the euro is too high. This is oversold. It's too. It's too low too low too high too low too high Too high again way too low Going up at the moment right in an upward trend. This is all uh market psychology and There are always these kind of inflection points in the market, right? Whether it's short term or longer term if we look at the the daily chart or the weekly chart We see a lot of these Support and resistance lines happening on on this weekly chart over here You can see very very clearly that this level. What is that around? 114 630 is a very very important Resistance level right again these major Levels over here again. These are on the on the weekly charts where a lot of consolidation Happened if we look at this level over here that happened before at 114 114 6 3 we can see that this there was consolidation at this level again over here It touched it didn't break through touched it again broke through it touched it again Again almost reached that level again over here a lot of consolidation again this important price level it's uh is is uh showing itself to be important once again even in current market conditions Let's look at another example. If we look at this example here of what around uh 124 80 80 you can see that again in the past There was a lot of this upward downward movement in the market where the where the market didn't really know what was going on With the price of euro USD was it overbought was it oversold too much too little? There's some kind of hesitation Right and and this is the kind of thing that we're we're talking about today is This market psychology around these very very important Uh support and resistance levels right support being on the downside and the oversold side resistance being on the on the overboard side And so it becomes quite difficult to to start monitoring a lot of a lot of Charts using this kind of technique, right? So I see a lot of people opening up Euro a a pound chart and a A jpy chart and all these charts are you know all over them all over each other and you know, some people obviously try to Try to arrange them nicely Still a lot of information to look at at the same time For for these kind of levels now What we're trying to do at auto charts is really simplify the trading process. So Once you install the order chartist expert advisor and risk calculator those come as one installable executable You'll you'll get this order charts expert the EA on your expert advisor section of your meta trader platform and and so what one needs to do is Drop there drop your Your order charts expert advisor onto the chart and don't worry. It's called an expert advisor, but it does not trade for you right, it does not trade on your behalf and so What it does is it comes up on the screen and it shows you all the different trade setups that are available to you so now if you If you were in attendance on our previous webinar that we had A few weeks ago We would have run you through a lot of the You know the very basics of order charts and what it does and today's presentation is really around how do you pick the best so to speak the best Trade setups Based on past performance now again, I'm going to give you another little disclaimer so that the lawyers don't have a heart attack Past performance may not be indicative of future performance But that's illegal, but yet that's the best thing we have to go on right is past performance So how do we use past performance of these different trade setups to help you figure out? What are the potentially the best trades Moving forward, right? And so there's a few links that are well one link and one technique that I want to show you The first thing is that if you click on this little world icon Over here on the order chart as EA. There is this very important link called performance statistics If you copy and paste that link into a browser You will get a screen like this which Shows you the past performance statistics, right now Um Before I discuss them, I want to show you what it actually means what these past performance statistics actually mean, right? Let me just fix one or two things on my notification panel. Here we go. So let's see what what what they actually mean So here is an example on NZD So as you can see here on NZD We have a breakout triangle Which means the price moved up and down between these two converging support and resistance lines and there was a breakout And order charts gives you this target area right of where where Technical analysis theory says the price is going to go so What the past performance statistics measure is How often in the last six months did The price hit The target region Right. So let me draw that for you visually That means when order charters provides this target region on the screen How often in the past Did the price Move into that target region Right. So that is all we measure now Remember one thing about having a profitable trade a profitable trade is not only about your entry It's also about your exit, right? So we do not take into account volatility before The price reaches it or the price could have gone down and up like this Because that's all about your stop level and what we're trying to do is we're trying to measure The ability of these technical chart patterns and support resistance levels The ability of these trade setups To project the future right and independent of your stop level, right? So your stop loss strategy could be a You know a fixed stop loss It could be a trailing stop It could be a moving average as a stop loss or a the parabolic sar is a stop loss man up. I've seen 100 different stop loss strategies that people use and so obviously we can't measure every single one of them So we try to be independent of stop loss. So the measure is simple. I try repeat again How often in the last six months Did the price hit the target level right independent of stop loss? So now let's look at those statistics So we look at those statistics and you can see that it's um, uh split up into three sections chart patterns Breakout key levels approaching key levels In fact for chart patterns It's only around breakouts right breakouts or the chart patterns that come up with these colored Colored arrows right so breakouts or colored arrows and And emerging patterns are these Gray gray arrows right so if we look at at this performance stats We split up between breakout chart patterns Breakout key levels and approaching key levels right and in each one of them you can actually click on those statistics And to drill in So let's see what they look like. Oh, this doesn't look like a very useful eye frame I guess we we need to relook at how we do that eye frame. All right. Anyway, uh, let's let's carry on so you can see that the These chart pattern analysis was done between looks like february 4th and august 2nd And we identified 44,000 44 and a half thousand Uh trade setups using technical chart patterns of which 29 000 hit their target region So that's 65 percent overall But I don't really want to focus on the 65 percent right what I really want to do is I want to focus on the Uh the the details um of um of it, right? So when I start looking at um the breakdown by pattern Right, we can see that the channel downs and channel ups and we're doing well The descending triangles double top double bottom Uh have been doing very well Head and shoulders and inverse head and shoulders also very well Rectangles pretty well the rising wedges triangles falling wedges flags ascending triangles haven't been doing so well Although ascending triangles it's uh at 69 percent right similarly, we have a breakdown based on symbol, right, so Um You know, we can see that we've been doing really well on uh on oil NZd jpy There's quite a few high ones at 68 gbp czar 69 cad jpy So it shows you there's a complete breakdown and complete transparency of where the statistics actually lie all right, so a very very interesting one is actually The hour of the day and this is something that I want to I want to highlight over here so um this um These statistics here are at looks at like gmt plus plus three and so we can see that The stats are much better for technical chart patterns between 6 am gmt plus three and 11 or 12 am gmt plus three, right? So the stats are much better This is during the european uh session right and the open of the us session And this is a very important thing that one should note is that The theory of support and resistance and these overbought oversold levels. They're really Based on market psychology Okay, and the question you need to ask yourself is when does market psychology really play out Does it play out when there's 50 people 100 people trading the instrument? Or does it play out when there's 100,000 people trading the instrument, right? So And and I think you know, you know the answer to that is that market psychology can really best be measured When there's a larger amount of people Looking at those financial instruments and trading those financial instruments. And so it just makes sense that during highly liquid periods of the day Any projection based on technical chart patterns certainly do a lot better again the disclaimer past performance may not be indicative of future performance You know, but certainly the six months And we have this rolling window of six months that moves along Shows that you know, the performance is far better during that time of day I'm going to move on to the the So just to be clear what that was based on If I go back to my meta trader and I unselect everything Except for the completed chart patterns That is what those things were based on so right now on technical chart patterns We have NZD USD one hour triangle up We have a triangle Down over there and we can see the projection Down to that level over here around 104 500 Etc etc. Now we're going to move on to a different One we're going to move on to key levels breakouts key level breakouts are the Horizontal levels right now looks like there's only one in the market that we are looking at at the moment and that is this Key level on euro pound. That's the only one we have at the moment. That's really playing out. Let me zoom out a little more You can see it's actually a very very good one It's touched this price level numerous times in past zero 90 90 yeah, so a really really good resistance level over here and What's even nicer is that it's actually broken through very strongly Through the resistance level. You can see this breakout candle really really strong and the projection up to that that Point over there. So let's go back to the statistics and see what order charter says about past performance of key levels So if we look at the past performance of key levels We can see very quickly that there's far fewer of them than technical chart patterns, right? Just under 3000 of them were identified over the last six months but 2200 of them reached the target level right that's a 74 percent Target level but again, let's not focus on that Let's focus on some of the other aspects So particularly I want to focus on the hour of hour of day again, we can see that although The the statistics look much better in general Again, we've note the very very high statistical probabilities again At 6 a.m. GMT plus three through to 3 p.m. GMT plus three obviously still quite high later on but you can see during the the Asian session a lot weaker average than the than the European and u.s. Session again the breakdown by By the the symbols themselves and which ones have been doing well which ones have been doing Badly looks like we've been doing really really well on the stocks stocks 50 What euro NZD at 87 percent? Well, that is That's incredible and often see things like that. Yeah, there are some exotics here gvp sk gvp Uh knock These are great stats, but very difficult to make money on these because the spreads are normally Very very high on those so the cost of the trade is quite high But things like usd swiss frank 84 percent. That's um, that's really really Interesting to look at those kind of things um Again trying to give you a picture of what all of that looks like and then finally I want to move to the Key level approaches, which is a very very high statistical average of around 82 percent But I want to make a note about that one and what we're looking at there is we're looking at these Approaching Key levels. Let's see if there's any around at the moment for us Ah, there's at least one on the euro usd and what does that look like? Oh, huh, okay So that looks like over there and you can see that auto charters did a pretty good job of identifying that You would have never seen that with a human eye Many times hitting that level here consolidation again consolidation Again twice hitting that level and again consolidation. So one two three four five six important points And auto charters identified the fact that there's been a turnaround and now moving up towards Towards that level of about a one 12 900 right, okay, so Let's look at the stats on the approaching key levels So approaching key levels an average of 82 percent just under 10,000 of them identified 8,000 of them hitting their target level over the last six months And the percentages are are really really high It looks like the The the end of day Um Opportunities that have been identified only 73 of them Over the last six months, but 70 of them hit their target level And absolutely incredible statistic for past performance again past performance may not be indicative of future performance. So note and once again, uh, you can see the performance by hour of the day and The performance for every type of instrument Now I want to point something out. That's very very important on these emerging key levels Although for these statistics are really Really high the the emerging uh, uh, key levels normally have a very Should we say a small time frame of opportunity through which to trade them in fact a a A prediction area, uh, uh, this big is very unusual. Normally, um, the The the identification is you know, is in you know, the the 10 to 20 per range, right? So much much closer. The only reason this identification was done So so early was because there was this very definitive turnaround and very distinctive Move, uh, right without any noise However, if there was More noise in the market where there was a movement up and down chances are we would have only identified This opportunity when it was much closer. So So, yes, they're they're statistically Based on past performance, uh, more likely to hit their target region But you really have to be watching your screen very very carefully to be able to take advantage of these of these Emerging emerging key levels Okay Man, I have been flying because there's a lot to get through in only, uh, you know 30 to 35 minutes I hope everyone has been keeping up if you haven't this webinar will be recorded or is being recorded. So, um, we'll be posting that On the website pretty soon Okay, so How do you go about, uh, choosing, uh, the best one? So I think I've given you an idea of, uh, you know those performance statistics um, and so What I've I've seen people actually doing is going to those performance stats Printing them out and actually having them on a piece of paper next to uh next to themselves next to them on next to the keyboard by the trading terminals and deciding You know, which patterns to trade based on those performance stats now If you are a Uh, uh, a VIP customer Uh, then there is an additional feature that you get that does all this work for you So let me come back to that in just a moment But First thing I want to show you is something that we don't have performance statistics on But I feel, uh, that it is a very important thing for you to look at Okay, um, and that is Uh, this thing of uh big movements, uh, this this trade setup called big movements Let me erase everything else out of here And I'm going to show you big movements, right? So At the moment, uh, we've identified a few of these big movements in the market. So we can see euro n z d He has a very big movement that happened. Uh, let me move this I wonder if I can move this thing out the way. There we go. All right You can see a very large movement happened on euro n z d Uh, uh, let's see. Let's look at the USD jpy. Oh, yeah, again a really really big Movement an exceptionally large movement happening there. Let's see cat jpy that too Let's see if there's anything else I can look at odd swiss frank And let's oh also the really really big movements happening right now Uh on the daily candles, right? So a lot of market movement happening right now Now the reason I want to I want to show you that is because I feel that Um, these are misunderstood in terms of the value What I found is that people are very focused on The you know this endpoint. What's going to happen now? Okay. It's been this exceptional movement on on Australian dollar on the daily chart What's going to happen going forward, right? I also want to draw your attention to something else and that's the fact that um Where the movement started Is also normally a very important level, right? And so in this situation, you know something around these level has been important in the past, right? You can see it quite clearly in the past. So although we haven't picked it up as a You know, it's historical, right? So we may have picked it up in the past right now It's not a recognizes as a supporter resistance level in In order charters because the price hasn't turned back towards this level, right? It hasn't turned back towards that line Um, and it didn't break through that line, right? So so there's nothing relevant tradable right now But I want you to keep that in mind and the reason why I want you to keep that in mind Is that I want you to note again on the statistics How When we look at where the true value is in all these trade setups A lot of them have to do With patterns and trade setups that have horizontal components to them So think about the key levels, right? Those are all about horizontal levels Ascending triangles, that's a horizontal pattern descending triangle is double tops double Bottoms those are horizontal patterns head and shoulders inverse head and shoulders Rectangles, these are all horizontal patterns. Yes, we happen to have some good channels in the last six months But you can see by by far the majority of the patterns that have been doing really well Are all based around horizontal Levels, right? Okay. And this is very important to keep in mind. And so I want to To to point you to the fact that even if even if you you don't Uh, you're not a vip customer. You don't have this minimum probability filter, which I'll go into in just a moment You can do really well for yourself by Looking at these completed chart patterns emerging and approaching key levels, right? And then in your mind's eye, so to speak Not looking at these triangles, right? Don't look at the triangles or the pennants or the channels or any of that, right? simply look at the The the the patterns that have these horizontal levels, right? So that's a shortcut for you, of course That's not rigorously looking at the historical performance more taking My personal experience into account Okay Now in the last few minutes, uh, let me Well, I want you to firstly think about any questions you have for me So please go ahead and type them into the into the chat screen. I've got my colleagues From order charters as well as my colleagues from tickmo Waiting on the on the on the on the chat window to start answering any questions But in the meantime, um, if you're a vip customer and you can contact Tickmo's customer support to ask them what it is you need to do in order to become a vip But if you're a vip customer, you have this minimum probability drop down Okay, so what this minimum probability drop down does for you is that it takes the current Trading setups that are available on on the call at the moment I will that you've got on the screen at the moment that I'm talking about now and uh And it takes the performance statistics and really what it does that combines the two together to do the work for you right, so these are all the Opportunities at the moment if I and there's what I guess two pages of them, right? So a little bit halfway into the second page if I filter that to 60 percent then hopefully that will reduce it a bit so Only reduced it by one or two. So most of the opportunities right now are over 60 percent If I go to 65 percent, let's see what happens. Well, it brings it right down Okay from from one and a half pages down to only four opportunities, right? Based on again these are based on past performance, right? So the opportunities based on past performance that you should be looking at right now is example on euro usd Which we showed earlier This channel on CAD jpy. Oh, which already is a little late. We looks like we identified it Two days ago And it's about to hit its its target level down. I missed that one. Okay, euro Gvp. So this one we still got time to trade That's the one we looked at earlier to there's been a strong break out on the daily charts and the price is moving up on daily and then pound usd Looks like that on the hourly chart, okay So it's left time to go on the hourly chart looks like it's bounced a bit and then come up again again If we zoom into that What's wrong with this pattern? The breakout is totally insignificant. If you look at this Look at this. Look at this breakout man. That's that's not a breakout. You can't trade a pattern like this If this comes up, you have to wait for confirmation candle Short before you take an opportunity like this. This is not a confirming candle. In fact, the confirming candle was the other way This is not a not a good quality pattern there okay so again, if you are a if you are a VIP customer, then you get this drop down again, you can take it up to 70 percent you can take it up to 75 percent and At that point we start telling you we are not magicians at auto charters at 80 percent Oh, there's something that did happen over 80 percent of the time, but really If you set your minimum probability to 80 percent man You're you're hoping for a miracle Really, let's be honest So, uh, you know, so so normally 60 65 percent is normally a good Kind of a measure for you to go on you just want to try and skew the odds a little bit but mostly use your mind and your your vision to filter out the The the the the trades to the best quality trades. Okay, so now I have a question From ken Ken has asked me the toughest question to present a good possibly have Can you show us one of your favorite setups with stop loss and take profits? Thank you ken for putting me on the spot on that one. All right, uh, let me Let me let me show you what I do firstly. I want to tell you that I do not look at 15 minute and 30 minute intervals In fact, I don't particularly like looking at four hour intervals either. I only like looking at h1 and d1 I personally will not look at the chart patterns right now I would look at the the horizontal support resistance levels. Okay And and so if you look at this, uh, you're a usd hourly chart over here We can see what this looks like. All right, so, uh, let's let's uh, let's think about taking this Trade right now while we while we're all together on uh on the line. Okay, so, um I'm going to take my auto chart as a risk calculator. I'm going to drag and drop it onto my chart And we're going to do a whole nother webinar on the risk calculator So, uh, what I'm going to do is I'm going to set my stop loss. Oh, it's guessed my stop loss very well I'm going to go long on this. I'm going to set my stop loss at this price that it gave me here at 101 one 103 26, okay It looks like This take profit is what okay 120 pips away. All right, so I have $5,000 $50,000 in my account. Uh, I'm going to I'm going to risk 2% of my equity on that. Okay I'm going to calculate at 0.71. So if I set my position over here I'm going to move that window. I'm going to set my value to 0.71. I'm going to set my stop loss to This price over here I'm going to buy at market Okay, and then I'm going to edit that and Did I not set my Take profit. Sorry. I didn't set my take profit at Let's say 1. 1 2 8 5 5 Set my take profit. Okay. So there we go. That is how I set up my trade Why I use the risk calculator is because This is euro usd Although I know it's only $10 a perp. I want to make sure that even at the strange stop loss level of 141 pips. I'm only risking 2% of my equity You know, so that's about $1,000 of my $50,000 account. I'm only I'm only risking $1,000 of my trade With the stop loss at this at this price. I hope that made sense to you Ken Okay Okay, so a good question from uh, Jose Jose Or is it Jose or Jose? I'm not sure. Apologize if I You know in texas jose is jose Maybe in other places. It's uh, it's jose and maybe in portugal. But anyway, um Jose uh, so that you know, uh, jose is asking me which is a better time frame to do technical analysis Five minutes 15 minutes 30 minutes h1 h4 w1, etc. And why? Okay, so jose this this is a loaded question. Um, there is no better or worse. It depends on your style of trading and before I answer that I'm just gonna Quickly close my position while it's in profit. I made a quick 15 bucks there Um, the reason I want to do that is because tecmo kindly donated $50,000 into my account For this presentation. I believe it's real money. So I don't want to lose their money for them So I just quickly take some profit. They have 12 dollars Uh, tecmo staff owe me a drink when I you know when I composite them in my offices later on. Okay anyway jokes aside, uh, so There is no best thing it depends on your style of trading. Okay, so if you're looking at a 15 minute chart Okay, you need to be monitoring the market all the time. Okay So because these movements are so dramatic and so quick, right? You know, if you're a full-time trader, then you can trade 15 minute charts and 30 minute charts even one or five minute charts The truth is that many people Cannot monitor the markets 24 hours a day and even for two hours a day You know dedicated to their screens, right? Only professional traders can do that. So You know as a retail trader If you're a retail trader that that has a job and a life and kids and and stuff like that Then you need to seriously consider whether you want to trade such Short-term volatility, right? If you do that's awesome Auto charters can help you with that if you look at the filters You can you know add on things like 15 minute and 30 minute Time intervals into your scanning feature and that'll bring back a lot more charts But But again, those are big movements very short-term high risk The other reason why I personally only trade the longer timeframes is because For me, I'm all about these overbought and oversold levels, right support and resistance And I don't believe that market psychology plays out in 15 minutes or 30 minutes I believe market psychology takes Days or weeks or months to play out so Again, this is my personal view. I don't want to instill it on you. That's my style of trading, right? If you are a statistical mean arbitrage trader that just looking for minor changes and anomalies in price graphs Then looking at the daily charts or the weekly charts is totally useless However, if you're like me looking for longer term Movements longer term overbought oversold levels based on the kind of macroeconomic stuff, then you look at You know a longer term price price charts, so I think To summarize my answer is you need to understand what type of trader you are What style of trader you are and make sure it fits into your lifestyle And lifestyle is really important because if you create yourself a trading regime that you cannot Be consistent with right because your trading regime needs you to wake up at three o'clock every morning and trade until 12 o'clock the next day You know, that's something that's difficult to do every day, you know For the next five years what you want to do is come up with a trading style and lifestyle that fits into your Into your life, right? Whether it be your work or your or your kids and family or other responsibilities, right? Make sure whatever you do is Is sustainable, right? I hope that's very long answer, but I hope that that answers the question There's no other questions coming up Thank you everyone for for attending and for your questions And ken thanks again for putting me on the spot with that with that trade Really appreciate that one This webinar is being recorded and or has been recorded and so It'll be posted very soon. I hope you all have a wonderful morning after noon evening wherever you are in the world And I hope to see you at the next webinar Have a good run. Bye