Part 8 – No Nonsense Forex Newcomer Starter Guide

You are now at the point of successful trading for a proprietary trading firm after passing their evaluation. The hard work you have put in has earned you a spot with a company that trusts you to trade their money in a responsible method, keeping within their guidelines.

Now that you have achieved this you are committed to trading for a living and making some level of income with them. In essence you have now given yourself a new job or career in trading.

This is the sole purpose of the entire endeavor BUT there is more work to do:

There are two new tasks and both tasks are solely for the purpose of making MORE money and progressing your skills.

One of them is to improve your current algorithm by continuing to hunt for new and exotic indicators and back testing them against your current ones to try and improve upon what you have already built.

This endeavor of improving your algorithm needs no explanation on how to do since you have already been doing this for most likely several years.

The second task is to trade other financial products in different categories.

At this point, the sky is the limit as far as products to test your algorithm against but the starting point will be with these products first:

Metals:

・Gold

・Silver

・Platinum

・Palladium

The next would be:

・Oils

・Index ETFs

・And even CFDs

Some of these products, such as the metals, will have some different adjustments that will need to be made to your algorithm. However, it is up to you to back test them and see what works best.

In regards to Metals it is suggested that your algorithm should look something more like this:

Metal Algorithm and/or Oils, Index ETFs and CFDs.

1.) ATR

2.) Baseline

3.) Confirmation Indicator

5.) 2nd Confirmation Indicator

4.) Volume Indicator (used only when price reverses)

6.) Exit Indicator

As far as guidance goes from our beloved sensei, it seems a little ambiguous on exactly how to take it from here.

This is due to lack of experience of our beloved sensei, the knowledge he possesses or maybe his intention by wanting us to focus on too many things at once.

In any case, it is up to you to focus on back testing other financial products responsibly and figuring out what works best.

Quiz No. #8

Link to the next page if you pass!