this is the forex q&a podcast this is VPprofessional Forex prop trader answering your user submitted questions everyMonday now if you have a question that is Forex related that has been on yourmind and you cannot find the answer to it online or you don't simply trust thepeople who are answering that question online which you probably shouldn't goto nononsenseforex.
com slash ask VP fill out that form and I will get backto you with an answer in 48 hours and then your question might actually makean episode of the show that is how we do the show know I started this podcast inJune I did not advertise it and I started at a time where it's summertimehere in the northern hemisphere and people who search for forex relatedthings for whatever reason don't often search for those things in thesummertime so we are here in episode 9 I honestly expected to be talking to like10 to 15 people at this point but to my surprise and absolute delight this thingis really really growing I say it almost every podcast now but I can't say itenough I mean just on Spotify alone oh my godyou mean you can't even put out a podcast on Spotify until you have fiveepisodes but I have more Spotify streams than I do any other downloads combinedfrom all of the other platforms blown awaySpotify nation you guys are killing it on top of that if you go to Spotifyright now and type in Forex podcast the forex q&a podcast has taken over the mostrecommended spot we are number one and we're on Episode nine I can't believe itI have vaulted ahead of my main competition who has hundreds of episodesout at least this was the case when I checked on Thursday hopefully it's stillthat way but what this really does is it confirms what I already suspected andthat is that most traders out there are tired of having the same informationjammed into their heads over and over again and having that information nothelp them trade having it not work and then when that happens you lose moneyand when you lose money all that self-doubt creeps in and you wonder wellgosh am I thought I was intelligent enough toactually go into this market and make some money am I not is it meturns out it's probably not I mean it certainly could beyou have probably made a lot of mistakes but more than anything it's the way youwere set up and continue to have that same misinformation thrown at you everysingle day those of you who have listened to all of the podcast episodesand seen the videos on no-nonsense Forex on the YouTube channel you now haveopened your eyes to this you have seen it for some of you it just took onevideo and you're like holy shit I knew it I just had to hear from somebody elseit was not your lack of intelligence it was your lack of curiosity I sat thereand thought to myself – there has to be a better way but a podcast like thisdidn't exist back then so I had to break out on my own and search for a betterway to do things and that search led me into the fabulous world of forex tradingindicators and once I did that I looked and I said holy shit there are literallythousands of these things out there to use why is everybody talking about thesame ten or twelve and after I found this brand new horizon I got to work Ioutworked everybody I don't know one Forex trader that put in the time andthe research that I did and over the course of time I put together analgorithm which is very simple it's just a series of six sometimes sevenindicators that are used to get me into the best possible trade entries andovertime especially if you stick with the YouTube channel and it would help ifyou go subscribe if you're not already we are going to put together analgorithm for you not exactly piece by piece but I am going to give you thestructure for it I'm gonna tell you the pieces that you need and it will be upto you to go out and fill in the blanks now there's some really good news thismight sound kind of daunting because yes I did spend lots and lots of timeputting together the algorithm that I did and part of that good news is that Ihave already given you exactly one of the indicators that I use I will neverdo that again but if you guys have not seen the ATR video go watch the ATRvideo that was the one gimme that I'm gonna give youand as for the rest of it much of that is going to be on you but I also havesome good news on that front putting together this algorithm for yourself isnot going to take anywhere near as long as it took me and that good news isgoing to be revealed in the answer I have to episode 9s question so withoutfurther ado let's get to it now Joel from Sacramento California went to askVP and he saw the RSI episode which just came out this week make sure you checkthat out too if you want to see me go on a rant about an indicator I hate for 30minutes I don't think there's any better way you could spend 30 minutes of your timeI would certainly watch it and there are tons of great takeaways in that videoeven if you already know not to use it but the plan of action I gave people inthat video is hey if you use the RSI stop using it and go look for somethingbetter because much better indicators that do the exact same thing the RSIattempts to do exist and that's exactly what Joel from Sacramento Californiawent out and did he explains this to me in the earlier part of the email andthen towards the end he asked the question and the question was this arethere any indicators out there that are worth buying now before I give you myanswer understand there's a reason why I toldthe story I told early on so I have literally tested thousands of differentforex trading indicators on all different time frames all differentcurrency pairs on all different settings within that indicator I can't give youan exact number but let's just say let's put it a two thousand all right so let'ssay I have tested two thousand indicators now out of those 2, 000 makeno mistake 1, 900 of them were trash just because these indicators are outside ofthe Dirty Dozen certainly does not mean they're any good most programmers arenot traders they are making indicators in this century for the market that youand I actually trade that's certainly a step in the right directionbut most of them are not traders themselves they are programmers so outof 2, 000 indicators 1, 900 of them were completely worthless and unusable out ofthe hundred that were left over I would say 50 of those had some validity tothem you could have actually used them theyjust weren't great and so I deleted those too which means the 50 out of the2, 000 that were remaining were damn good and even though I whittled down thatfifty to seven I still keep those 50 around because I may discover somelittle tweak here or there that I didn't think of before that can all of a suddenturn that indicator into something better than I already use I'm constantlytrying to improve what I have but I will call those my top 50 now out of my top50 how many of those did I pay for zero and make no mistake I have paid forindicators I have spent anywhere from three dollarsall the way up to fifty dollars for an indicator that somebody else wasadvertising knowing full well that it probably wasn't gonna work but if it dideven fifty dollars is a very small price to pay for the potential to makemillions of dollars in the future so I had no problem throwing money at anindicator and just seeing if it worked problem was it just never did so here'sthe real difference between a paid indicator and an unpaid indicator a freeindicator both of them have similarities I mentioned the idea of this in the RSIvideo because whoever showed you the RSI for the first time and whoever keeps ondoing it now they all do the same thing they show you a cherry-picked example inthat perfect moment in time on that perfect currency pair on that perfecttime frame where the RSI worked fantastically and the people who createthese other indicators do the exact same thing the only difference between theguy who created the free one and the guy who created the paid one is the guy whocreated the paid one had the sense to try and charge for it and make a littlebit of money that's the only difference one is not better than the other chancesare they're both going to be equally shitty but the only way to find out ifthey work is to download them yourself and then back test it and then forwardtest it see if it worked in the past and then plug it in to your demo account andstart trading with it and you cannot do that with the paid indicators unless youbuy them first and it just so happened you know at least on my end that none ofthose paid indicators panned out and I tell you guys I do not regretpaying for them but I'm telling you right now you really don't have toI probably purchased over a dozen different paid indicators and not oneworked out so I can say with confidence and because I've actually done it thatthe answer to Joel's question is no the only difference between a paid indicatorand a free indicator is one guy decided to charge for it that's it you can dostuff like this too if you go to episode 2 and go to that place I showed you togo learn forex you can take all of those concepts repackage them and turn it intoa forex course and sell the damn thing yourself showing people what a trendline is and how to use it it's not copyrighted now can you do that yesshould you do that no don't be an asshole and take advantage of people whoknow absolutely nothing about forex trading that is criminal people like youwere the reason I put out the content that I put out that being said I don'tdisparage the people out there that are charging for indicators you know I tooka chance I knew what I was doing knowing that it probably wouldn't work and itjust didn't now the people charging $200 to show brand-new traders that don'tknow anything how to actually trade the market by showing people what a trendline is what a Bollinger Band is and what Fibonacci is those people should bethrown in jail but I digress let's move on to the good stuff so now for thatextra piece of good news I was promising you earlier I did say that apart fromthe ATR there's no chance I'm giving anybody any of the indicators that Iactually used to trade right now but those top 50 that I've collected overtime that I've still hung on to because they are damn good I'm gonna leak a fewof those out to you over time and what you will be getting is a gangster of anindicator that has been tested by somebody who has tested thousands soyou're gonna have to do some work on your end yes but for being loyal to thepodcast and being loyal to the YouTube channel am I going to give you a littlebit of a push and give you a few freebies yeah absolutelybut I will do this all predicated on the promise that you guys are gonna keepgrinding away and keep building and keep improving on your own algorithms to thatone day they're gonna actually surpass mine the people who are lazy and justtake what I give them and start trading with and hope to get crazy good resultsare going to be very very disappointed that is not how thisworks and remember too guys trade entries aren't even the most importantpart of trading Forex you guys all know by now that money management by far isthe most important concept and the most important thing you need to get righteven though it's the unsexy part of trading the sexy part is the algorithmis all the things that go into trying to get you the best trade entry and againit will be over time releasing to you some really really good indicators youcan plug in right away speaking of which those of you on my list I sent yousomething on Thursday if you didn't get it check your junk mail folder or yourspam folder and make sure that what I am sending you does not end up therebecause I haven't sent anything out in a long time and you guys are nice andpatient I sent you something really really awesome it is not part of myalgorithm but it is something that I use a lot and I would wouldn't even hesitateto say something I use almost daily and you guys got first peek at it I willprobably make a video on what I sent you down the road but I don't even it mightnot even be till the very end of the year before I do that if you guys are onmy list you get first crack at everything all those really coolindicators I said that I'm gonna bleed out over time you're gonna see themfirst now those of you who are not on my list you did miss out on this one butthere's a lot of really really great stuff coming so if you want to be onthat list all you have to do is you can ask me a question on AskVP that'll put youon my list or you can just go to nononsenseforex.
com and off to theright probably about halfway down is a little form you can just put your nameand email in there and you are on the list you're good to go and believe me Ibarely send anything out there's nothing worse than signing up for somebody'semail list and then just getting inundated with mail every day you'll belucky if you hear from me once a month but when you do you are probably eithergoing to get a sneak peek at an upcoming video or an early look at one of thetools that I'm gonna be releasing to the public and whether or not you are on mylist you are a podcast subscriber a youtubesubscriber a blog reader or just finding this for the very very first time all Iask in return is that you start putting in the work get on that demo account andtesting things out armed with the knowledge that I have already given youand armed with these tools that are only gonna get better and better as you goalong you are going to see some real sustainable consistent results and thatalone will be reason enough to justify me putting in the time and effort that Ido to put out this podcast in the videos on the YouTube channel but another wayif you'd be so kind and you are on iTunes is to go and give the podcast afive star review that's a great way to support the podcast those reviews reallydo go a long way and for those of you on Spotify follow me keep this podcastnumber one and I will continue to answer your questions every single Mondaymorning you get out there and start grinding start discovering those toolsand those indicators that nobody else knows about and plug them in trade withthem start building your little Empire brick by brick this is the fun part guysgo get it.
