Happy ThanksGiving!


The MBFX-ValueChart Challenge – I spent a few days using the MBFX-ValueCharts alongside my ALGOs and found it SUBJECTIVE and pretty much useless to be honest. As with most systems the users try to fit what the market should do with a fixed ideology/set of magic indicators that in combination will have the market react in a certain way. If this helps you visualize the market better then I guess that would be a good thing. But from what I found the MBFX-Valuechart set up was a white elephant, in which people were looking for the holy grail of trading as most do with systems. The claims of 85% ITMs imo not real as they could not even agree on a common setup. You could do just as well with your naked eye and a coin flip. I do not have much luxury in my trading to waste my time on subjective methods that have no clearly defined parameters/edge. I watched more then a few people try to search for trades as if they were were blind, a few people describe the same trades in many different ways even 1 that took the same trade from a common setup with one selling and the other buying. In short its a silly waste of time.

This trade I had to start my day on the EU to sell early in the am had no validity with the MBFX/valuecharts setup. Still it was a good trade both ways as you will see in the next chart. I hated getting these +8 -8 sound alerts.

As you can see the progression on the chart there is no guessing in my trading. After the move occurred I had people give me reasons as to why it could have been a buy “SUBJECTIVE” and worse after the fact thinking. In trading you need to trade the here and now not the what is possible or after the trade already happened. So anyway my ALGOs clearly stated from 8:05 on up 8:55 the EU would go higher. Now don’t get me wrong I don’t win all my trades all the time and if I win 2 out of 3  or higher I am happy, specially with expires over 30 mins to an hour which have more room for error. But there is no guessing in what I do that would make my trading subjective as it would my results.

Tuesday after dropping acid on the MBFX/Valuechart templates I went back to a naked chart with my ALGOs. A very wise idea imo. I did not have a bad day monday at all I was 6 and 2 which is respectable. I for certain can say I could not attribute any of my trades to that ugly mess they call the MBFX/Valuecharts Method. Honestly all that did was hurt my eyes to look at it. The opening round of trading I had sells on both Dax and FTSE which I took for a 30 min window both worked out very well and were very clear trades.

This chart here was a buy I had from 8:05 to 9:00 was absolutely fantastic. Right after the entry the price moved for the 8:30 news which caused it to spike up to the mid 20s, which with my spot position I exited above 20 very quickly as price hit my upper bounds ahead of time by a good margin.

The next trade I had on the EU for 10:00 to 10:55 was perfect as well as the 8:05 to 9:00 trade. The price from which it moved from was almost the same. The only difference was this one had a smaller range and very little drama in it.

Now for the new Binary Net Chat feature which I have been asked repeatedly will I be doing this daily. I am not sure as of yet to use it for a webinar type of setup every now and then or a daily radio show in a certain time slot or daily live trade analysis room while trading. Its really cool because it has voice and video built in. Its a great way to deliver trading education that is for sure. My trades are so cut and dry chatting really does not interfere so for me its easy to do. Another thing is its like being at a bus stop in where you meet some interesting characters! I will likely be off the rest of the week surfing at the beach or hanging out with family/friends and for ThanksGiving :) I wish you all good trading and a Happy ThanksGiving! Till next time, Enjoy!