Worst Market Ever For FX Traders? (Podcast Episode 56)

[@erich-heinbotha2488]

Harsh reality with a silver lining. VP always provides.

[@sir.royaloath4509]

its necessary.

[@joeychavez6693]

VP makes me feel like I could whoop anybody's ass Coolest guy I never met

[@davidclark6955]

Even in this dead market, there have been a few bright spots to test my algorithm...and it is doing pretty good when a trade setup happens. I think when volume does return, the folks with solid money management, good trading psychology and a decent algorithm will make a killing....so let's be like Axl Rose and "all we need is just a little Patience"

[@kookokooko-xg5uo]

do backtest a looot bro! good luck

[@lucapuzzoli8363]

Thanks VP really helpful podcast at the right time. I been journaling for the last few month since foward testing the algo always checking the $EVZ to understand whether I could have less risk. I'm aplayng the 1 candle rule (this implies great discipline) and following news events as you explained it in your videos. Really looking forward to go through the data I collected to see what can be improved. I realise my focus has slowly Swifted from trade entry's to money management. Let's see what the days ahead will bring . THANKS VP for keeping up with this great podcast and videos. Really appreciate.💪👊

[@nikos780]

13:50 . I am 27 years old with bachelor + master and from my 23 searching this thing and getting taunted from everyone I discuss it. The point is I am not doing it because of laziness but I don't want to be a modern slave. So I started playing poker while I was studying in the university. I was making money long term and managed to built a good account. But that needed much time, so I started trading at 25. Blew up all my money in 1,5 years of trading cryptos the worst period possible (2018-mid 2019) but "Good" now I am building a solid strategy without fearing that I will destroy my account again and will may make my dreams come true. And all these because of you. Thanks VP!

[@Ijaf98]

The GBP pairs were and still are in a strong down trend but as for every other pair...damn.

[@patriciaono2859]

Good!!! I’m grateful I found VP during this period of dead market.

[@DrGrant-jw6xh]

I already anticipated this a long time ago. Benefits of being prepared like a successful trader should be. Another gift to the world of trading that comes and goes leaving us with a lasting impression and a wealth of valuable information for those who will actually utilize the information and run with it. Thank you VP for the entertainment, guidance, library of lessons to be reviewed and implemented.

[@Riffrshittr]

as a new trader the dead market taught me patience because for a while it was too easy to get hyped and jump into a trade that youll soon lose, and to listen to your indicators most esp the volume. many fake outs for trends out there would toast me if it werent for my volume indi.

[@and0v0]

I saw a NNFX group on Facebook and they posted an analysis with support, resistance, and trend lines. That's how you know they aren't watching and listening to your content.

[@philiptaylor2567]

Embrace the suck. Ha. That was one of the tag lines the TI’s used constantly back in 08 when I went through basic training for the Air Force. I think people are still going to try to abuse the contact link. I’m exited for the prop firm video next month, and this mystery content you said you might be giving in the future. Not that this is it, but it sure would be cool to have a prop firm developed for recruiting top VP algo style traders. That would be a highly successful firm Edit: In contrast with the majority of prop firms I have found here in the US, which seem really scammy. “Show us you can grow an account by 10% in ten days, and we’ll fund you!” Yeah, if someone can grow an account by 1% a day, why would they ever need a prop firm? And why aren’t they a billionaire yet. They know that anyone who does that simply got lucky, and then they make their money off of fees after they cut you loose when you have a 4% drawdown

[@soyouwannabeatrader4601]

I noticed this video doesn't have a lot of love > and as a small team here that is going through ALL of your content, exactly as you outlined in your 'Beginner' video, I think that this podcast episode really resonated with us. It's of course COVID time, and both of us have massive downtime with our main income streams due to restrictions. But we did what you said - good, now we understand that the good times in one market ebb & flow, and we have done exactly what you said and are exploring other income streams. Without this down time, we possibly wouldn't have got into many different projects, would've bought a house with a mortgage just to live and then been hit with an even harsher reality. Really love the content > I believe the next period is going to be pretty volatile and a diversified assortment of income streams are what we are headed for that should see out multiple market phases. A big THANK YOU from us over here > even our tiny tiny channel has seen the benefit of just putting content out in the hope of finding something like this and it did. Stoked

[@patiticojjb]

Hey VP thanks, Finally I completed all your vids! Im now testing a new system hopefully fund my account again next year. Thanks. I actually gave up on FX until I found your Podcast in my spotify. I started trading FX since 2007 with FXCM. I committed to study it, I bought all famous books including taking special economics courses micro & macro. i traded the dirty dozen developed systems around them. i think I can even write a book with all those strategies, be a "consultant":-) Blew 3 accounts already moved my profits to break even then I got married and found it to be a waste of time. I got a good job then eventually focused more on investing in actual businesses (capital share) in my country which turns out have good returns. This will be my last hurrah for FX, but I'm excited to see my demo account taking considerable profits...

[@God__Is__True__4__Us]

Been rewatching every video! 🤣🤣

[@JaswantSingh-wi5mb]

Thanks VP. This Podcast is just solved my biggest problem. I am new forex learner of 2019. It was going alright till almost two months. Looks like nothing working the way it worked in Jan- May. I was breaking my head all over and I got the answer today. It also gave me clue as to what should I do now to prepare myself for better time coming in future. I consider this is real rescue for my all the problems. Thanks again.

[@sudeepji]

Jaswant Singh ji, aa jaao ikathhe hoke karde trading. mail me if you wish . mail id is same sudeepji gmail dot com

[@bradleyt]

Hey VP, yes dull Forex market for sure. 🤯 Still persistent and profitable. Thankfully. Appreciate the info and perspective. Jacko Willick is great!! 👍🔑

[@bahama450sl]

This dead market caused me to look at other things to trade like penny stocks (yeah I know). Good. With the dead market, it's an opportunity to learn new things. Good. Love your work VP. Thanks for all the work you have put in thus far and for the content coming down the road.

[@matthewlewer8295]

Patrick, maybe you could do a blog/video on a trade journal, keeping yourself/the trader accountable.. you have done a great risk video which is a nice start to managing risk, but recording trades for later analysis of the process. I know you have mentioned this several times in forward and back testing.. but recording all while live when the psychology of the trader changes, as in the beginning every trader has a change of mental fortitude when live, regardless of how good they built their system. In all your videos I do not remember seeing anything like that? I know that Prop firms keep a strict record of trades, entries, exits, MAF/MAE, time, percentages..and the Banks measure similar depending on your desk, This would be a great lead into teaching your avid followers the professional mundane steps required to remain consistent Cheers VP, Matt

[@NoNonsenseForex]

Got both a podcast ep and a blog on this. Episode 11 maybe?

[@matthewlewer8295]

@@NoNonsenseForex OOPS. I even bloody watched it.. Excuse me while I go back to my corner..

[@josegregoriorodriguezmesa6888]

Mr VP you are a amazing person always helping people that is why you be always a winner in your Life. God bless you. Saludos desde Sevilla

[@Ricardo-ep4mr]

Chartporn... Meh. We(I) want money management 😂 Thanks for all you've given us so far VP.

[@AffiliateMarketingMatrix]

Money managenent is the real porn haha. Looking forward to the next few months. Gonna be amazing

[@philiptaylor2567]

He’s given all of his money management strategies, with exception of the trailing stop video, which, if you have watched all the other videos, you have a pretty good guess at how to manage a trailing stop the VP way.

[@geoffmaunder6589]

Nice one V.P 👍 looking forward to the next few months of your hard work! Once again appreciate the help and encouragement you show to us all!

[@rajkokerin7947]

I do testing my algorithm. I use help of MT4 tool Fibo Chanel. Levels are 0.66 (1xATR) and 1.3. Colour White. DO not use option Ray. Style colour is yellow. Put FiboChannel on the chart. Double click it. Then drag midle yellow line up or down and stop at value of 1.5 ATR. Then move the tool to trade open candle level.

[@mkvB58KING]

Thanks for being real VP, mentors often come off as "I never lose". It's great to hear we are all stumbling together in this market.

[@stargazer4436]

Feel happy to hear this guy always.

[@nikolaynikolov5704]

Thanks VP , i thought i was just doing something wrong completely , but after following everything and having a success, things started going downhill a bit and i was wondering if it's just me but i guess the market is indeed kinda dead for now

[@michaelherman7248]

What I'm saying is, if you think this is not a trending market, you're looking at the wrong charts.

[@delasoul2875]

This was pretty sad news, I wanted to ask you a question after all your videos. Thankfully I have years research experience and have the ability to self teach. Oh well people abuse opportunities and this is why we can't have nice things. Thanks for the opportunity VP.

[@KatKall3107]

Absolutely love the "go get it" conclusion; it gets me every time!

[@warren1871]

Great podcast, thanks VP for reminding us the harsh reality. There is always a silver lining for every situations if we are willing to look for it. The difference between a stumbling block and stepping stone is how we want to use it! Be grateful!! 👍👍👍👍👍

[@mrunicorn3889]

Cheers VP. No second guessing from my end. Keep it coming man!

[@Kei-yc3sn]

I have been trading the "nonsense forex way" for a month and I am already profitable, thanks VP your the best.

[@mikescarborough9196]

Here's another thought: If I'm playing the long game and trying to build a career in forex, then I'm also laying down a track record for prop firms to look at in the future. What do I want them to see me doing in this slow market? Do I want them to see me managing risk like an adult professional, or do I want them to see me coming apart at the seams in terms of risk taking because I'm not getting the return I want?

[@janiesj9003]

You're so right, I'm at the point of no return now. Might as well get bloody good at this so I can finally quit my job. I'm getting horrible results in backtesting, but like you said, one day I'll run out of ways to fail...

[@janiesj9003]

Guess I commented too soon. After completing my backtesting, that algo got me 9.51% annualised return for 2 years over 28 pairs. But compared to your 20+%, mine is peanuts. No firm will want this results, am I right? Anyhow I'm forward-testing this algo and also back-testing another. Hope I will get it!

[@MastiwithGagan]

Feel motivated in dead market times thanks vp

[@UGK4LIFE1212]

Good, I have just started trading recently, and seeing this dead market really makes me disciplined and patient. I'm grateful.

[@billquackenbush7212]

great lesson and advice. Bill

[@craigchook309]

Always on the money. Telling it how it is. Keep going mate, i'm with you. It is dead out there. However it will change. Like the I Ching (one of the oldest books ever) says: The only permanence in life is change. Cheers

[@pkealoha76]

My 3rd time listening to this. It's motivating, and gets me working on my algorithm again during these slow markets, even at my job it got really slow... Good! time to tighten the belt, save harder, and spend QT with my kids!

[@michaelherman7248]

The forex market is only dead if you're trading EUR pairs. The weekly ATR for GBPNZD is 280-ish. GBPAUD is similar. It's completely realistic to get 1000 pips a week trading the GBP pairs. Brexit is truly the gift that keeps on giving.

[@kitchenspiral]

Hi Guru VP, thanks for the Pod Cast. RIght, it is a great time to work on algo improvement. Look forward to the new markets related pod cast and videos, too.

[@stefanl9721]

Awesome video! Thank you.

[@javierbenitez3163]

Great vid thanks VP!

[@NOMOsman-wv1fq]

Hi VP , Thanks a lot again , you are wright this market is not normal at all , I say this after 5 years of experience in this fray , But Here is the Point I think the market will crash and the new crisis is coming soon , so what you think about that .

[@thamarmanrique1502]

Love this video more than any other!!!! Thanks!

[@2321brendan]

Hmm. I have many trades at BE+ at the moment .only 2% R out. waiting for the big moves to come . My Algo is very quick (ie early ,pretty much breakouts) and I use one of the dirty dozen to stay out of chop.! Still 90% NNFX way however

[@PatrickSS351]

What timeframe do you trade?

[@sinclairabondo9501]

Thanks VP

[@yoloman96]

Forward testing is tuff, so we should be patient and wait till the market is better to build a track record for a prop firm?

[@esambai]

Thank you VP. You're God sent.

[@probg1]

Thank you !

[@MuhammadAshraf-dd7tu]

brother VP you are great person in the world in Forex knowledge GOD bless you

[@sir.royaloath4509]

You heard it here first. Chart porn 🤣🤣

[@frankwood11]

i think its great the way you can get straight to the point .

[@89clavos]

thank you, need the advice

[@domp.8648]

VP thank you for your work and for saying it how it is! Just getting into Forex and I'm happy to learn from you. Blessings

[@johnm2241]

The crap market at present is so true. I have never not enjoyed forex trading as much as now because it is so flat. But patience is the key. 85% of my last few months has been spent on back testing. The hard work will pay off for those who can persist through these tough times.

[@tek_tube23]

Great video VP! keeping us motivated to grind 🙏

[@sellingcommunity_]

The mindset is gold

[@JimmyFazaTholomew]

I came from stock trading and I am in a process of learning how to trade forex. I watched the video about structure that I can follow as a beginner. I tried this structure in Oanda Practice mode with $5000 capital. However, when I tried to put in the number in EUR/DKK (testing purposes) the ATR says 0.0003 which means my stoploss will be 4.5 pips. Then my risk will be 100 (2% of $5000). Finally, my pips value is 22.22 (100/4.5). I put the numbers in and it keeps saying "insufficient fund" which makes sense because in order to get 22.22 pip value, I need to order a lot of units. Where did I get this wrong?

[@juliomijares3416]

VP you are the best, thanks for your videos.

[@taglish88]

Awesome podcast VP!!

[@bazinaustralia2912]

“I always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline.”Richard Dennis

[@mashroorsiddique724]

"Be Grateful & Embrace the suck " Awesome advice from an awesome Man !!!

[@ultiskyrealestateholdingsl6478]

The Market is really dead now I can find any entries on Dailys, Hourly, nor 15 Minute. I get I will just back test and set up new algos

[@BoHorror]

Hey VP you should check out Earl Nightingale pretty motivational guy and Norman Vincent Peale

[@tatongpudjantoko7642]

Good. It's time to wait again. Waiting for your video about metal. You did mention it once. Thank you.

[@bodhimugen5021]

Just heard this on the podcast on Spotify, just wanted to come here and say thanks for this one VP, needed to hear this one.

[@BigMrToe]

I say oh well, life goes on or back to the drawing board. You’re absolutely right VP, there is no going back now. My aim, is to only move forward.

[@xperiencetv878]

Im just following u recently mate. I like the way you deliver the truthfullness of fxtrading.cheers!

[@pauluchiha1031]

thank you for this

[@LASPLANCHASDEORO]

VP 2020-2024

[@petereastman2663]

VP, you are good. I am glad I do not have to figure everything out on my own. You are a great short-cut.

[@mdkhaledhasan8059]

Vp would you kindly do another video on a volume indicator?

[@JustRdigital]

khaled hasan waddah attar explosion

[@bowang3847]

Thank you, VP! I am a real trader!

[@marcwilliams1838]

Stay the course.

[@edidiessang2148]

A quick reality check. This one makes my trading psychology list.

[@rayt3456]

Mmm, well said and done!

[@ayidanuar]

Guess most of us are too focused chasing the market for a perfect entry and exit. At times like this its best that we give unconditional commitment to trade following our trading plan, rules and risk management.

[@brandon7311]

Finished the trading psychology playlist.

[@olakunleabdulahi1380]

Thank you VP for everything am seeing big fish in my trading account now. laugh!

[@r6854]

Uh-oh. I maybe be in trouble because I have been having what I believe are great results. Doing a steady return without any drama (small, but steady). During tough times I channel my inner Earnest Shakelton.

[@Scott221]

I’m forward testing right now. It’s going well, working nicely in this market. I’m now worried 😵😵

[@fingerscrossed1307]

Here's a question I haven't seen been asked: How screwed will you be if mt4 no longer runs? How will you trade then, when you can't put ur mt4 indicators?

[@NoNonsenseForex]

I'll say "good".....and get all my stuff switched over to MT5.

[@fingerscrossed1307]

@@NoNonsenseForex Interesting. Either, you have the mq4 files or you understand how they work.

[@johnathangrey3463]

Vice patriot. Always a pot of gold you have for us.

[@lpswarriorfan1868]

M1 through the doldrums - D1 through the spring

[@adammmaforex1540]

Ice bath after ice bath thanks VP

[@ultiskyrealestateholdingsl6478]

Good to know I thought I was me. I can't really bitch I am learning how to make pips in a dead market. SO when the market rebound will be able to handle it and make money.

[@mrcornutt]

Another hit no doubt.

[@natyiaandkeithspencer128]

Well did you think about the correlation between what's going on and what counties are in involved like for example oil, gold, canada/marijuana...well just a tip the US is down against everything and the Interest Rates meeting is July 31 so that has to do with fed bank and that is a big thing for all countries they are waiting to see the if the cut will happen so get ready guys. I love having a balance portfolio stocks penny stocks forex commodities and energies . You guys also should look at silver and copper just a tip. Big money in times like this if you just watch the shift listen to the news get some news letters in your arsenal. You will learn way more. Get more educated how do you think the greats do it diversity. All your eggs in one basket can be bad thing. Friday news is the best thing to watch. Only the strong survive. You can make consistent profits no matter what.

[@kyllesaniel3827]

HI VP! PLS NOTICE MEE. IM REALLY A FAN OF YOUR CHANNEL.

[@mukooworldwide9956]

Good!

[@smacleod69]

I was just about ready to give up till I found your channel. And I complain all the time! lol

[@SubhanAli]

i am enjoying the psychology videos the most. other videos teach trading but psychology videos not only teach trading but also develop yourself and change your point of view for life. love and Fun to go through each video minute by minute.

[@livash7845]

Watch&learn your way it might be best thing I ever had

[@jimchokdeesal3057]

Good, at least there’s more time to polish my skills

[@leewilliams6058]

👍

[@amer.h.yawari]

Face reveal at 100k

[@cpbpapin8458]

Hi I got it, thanks Xxxx

[@Francis-yv6hc]

Good

[@jlmahurin4962]

I moved to bitcoin and I suspect others are too.

[@elfullin]

Has VP talked about repainting indicators? VP if you see this could you do a video on it, or point me to a video you've spoken about it. I don't remember you mentioning it, but I haven't finished all your vids yet.

[@charlestravis1078]

Did you not listen to what he said in this podcast?

[@tomas-malo]

Yes he has talked about them in a previous technical video. Obviously don't use them. You can check if one is repainting by putting it on a really low timeframe