Looking at myforexdot.org.uk, an Excellent Website with a Lot to Say

All of us have certainly gone through the painful and often frustrating experience of finding quality content online about forex trading. The problem with finding anything good relates closely to the fact that the Forex industry  attracts a lot of people looking for “easy money” and therefore a whole lot of savage marketing takes place and the real facts about trading get “lost” within the endless corridors of the world wide web. However it is certainly great to see that there are several people who have put up useful and reliable content online which I am all for promoting on my website. This is the first article about a website I have ever written but I thought it was worth doing since I really liked the perspective given within it.

Yesterday a commenter by the name of David left a message on a post I wrote last week regarding the fact that universal inefficiencies seem to be limited to the larger time frames in Forex trading. His comment basically said that he agreed with my observations and that he too had developed systems based on the higher time frames as they had less “noise” and much more reliable conditions when compared with the lower ones. Within his comment he had a small link which I obviously had to inspect in order to ensure that what he was doing was not some type of marketing “plot” to get part of my traffic (a.k.a SPAM).

I was pleasantly surprised to find his website – myforexdot.org.uk – to be a very clear source of information with many points of view in common with my own perspective about trading and profitability within the markets. The website – although graphically not the best – has a lot of content related to trading with a very concise and easy-to-read perspective coming from a person who seems to have walked for a while in the road towards profitability within the Forex market. I read some of the articles within the website and I couldn’t help but strongly agree with many of his statements. This phrase from his article titled “The most important lessons I’ve learned trading Forex so far” particularly agrees with my personal experience :

“There are three main ways (that I know of) that technical analysis can be used to gain a statistical edge, they are: support and resistance, market momentum and trading with the trend – most good technical trading systems involve using a combination of these three things.”

Despite the fact that the website is filled with many useful articles about trading the most important part -certainly the one most people will be attracted to – is a technical library section where David shows several technical strategies he built based on some of the notions mentioned above. I was pleasantly surprised to see that his Strange Currencies strategy is particularly similar to Quimichi (although they do have some important differences), showing that we do have a lot in common regarding our trading experience and our perception of how to achieve long term profitability.

Some of the other strategies he mentions also seem interesting and all of them have been properly evaluated within a long term back-testing period of about 10 years. Although he doesn’t seem to have any in-depth statistical analysis about the strategies or any type of code to execute and evaluate the systems, the logic sets are highlighted with great clarity in pseudo code and therefore the moving of these strategies towards MQL4 implementations should be quite straight forward. I certainly have some ideas on how to improve these strategies – which I am sure he also has – and I am probably going to implement them in MQL4 code to get more in depth statistics about their results.

Long story short, if you’re looking for another non-marketing non-hyped source of Forex trading information where evidence is given the utmost importance then I would advice you to visit myforexdot.org.uk and learn about very important things such as system design, measuring system edges, long term technical trading strategies, etc. If you would like to learn more about my work in automated trading and how you too can learn how to code and evaluate your own systems based on your own analysis and sound trading tactics please consider joining Asirikuy.com, a website filled with educational videos, trading systems, development and a sound, honest and transparent approach towards automated trading in general . I hope you enjoyed this article ! :o)

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