How to get big impact forex news notifications on your mobile.
22nd September 2014
Supply and Demand Longer Term Forex trading analysis webinar
17th October 2014

Two days ago, the 6th October 2014, the Set and Forget supply and demand community had its first anniversary. I just wanted to thank you all for making it possible, It wouldn’t have been possible without your support, belief and hard work. Many of you are new members that subscribed to the free webinars and know little about myself of the set of rules, others have been part of the community for a long period now.

I know many of you are lurking in the dark, you just read my comments, attend the free webinars or read the posts at the Forex Factory thread, most never contributed to the thread or asked anything, it’s free to do and I reply to all posts. It would definitely help you in your trading to post comments or your views on a certain scenario, but you don’t have any obligation. There are others that decided to join the private community, new members like Thomas from Sydney were doing a lot of hard work before they joined, he was backtesting 1-2 hours a day since March 2014 before deciding to join the community. It’s great to see that people is committed and believe that their success as a trader relies mainly upon themselves and their hard work, not on any set of rules. There are many strategies that work, and when I say many I mean “many”, a lot.

The only thing that prevents us from being consistently successful is ourselves, our impatience, our fears, not focusing on the same set of rules untilthey become second nature to us.

That takes time, and I do mean TIME in uppercase. Don’t let others convince you that you can become successful in a few weeks or months or double your account out of the blue, that won’t happen, the same way spoons are not blended with the power of your mind (that could happen in a parallel universe, but not in the one we live in with the physics rules we are governed by). I’m not saying that someone can’t achieve that, it’s just very unlikely that it could happen, we must lean on high probability events on our trading, not on myths and events that are very unlikely to happen, for instance, doubling your account in a couple of months or learning a strategy and become profitable in a few weeks. It takes time, a LOT of time, accept that, create a mantra, sing it, make it resonate within yourself, it’s just like that, there is no shortcut to success. You need to believe in your success, you need to add passion to it, passion is the secret recipe. However, belief needs to be accompanied by very hard work otherwise it will be rendered useless.

I believe Set and Forget community has now come of age and it’s become a real community after 1 year of existence. This is a real community, members helping each other and creating new tools to help themselves and others at the same time.

Since the community was started 1 year ago in October 2013, many things have happened:

  • The rectangle reader indicator has evolved into something bigger and even more useful. Now Chris is working on a better version that will display the realignment scenarios from Monthly down to H4 so we can know where to set and forget our entries as per the rules. It will also save all objects to your MT folder so that all charts can be synched on multiple Metatrader brokers installed on your desktop and/or your VPS/dedicated server. Awesome job!
  • An automatic supply and demand indicator is under development, it will take some time to complete
  • New trading scenarios fully tested were added. The WoW trade, nested levels and the Sequence concepts were introduced
  • New indicators were created for Forex Tester to help in our tests, 50% dot for basing candles, basic rectangle extender, object sender/receiver to synch lines and objects between different charts
  • An Expert Advisor has been created for Metatrader 4 to manage the supply and demand entries, up to 3 different targets, breakeven, close trades if Trendline rule is broken, trail the trade with Trendlines, etc
  • A template saver indicator and script were created to allow Metatrader to save templates every time a new object is added/edited in the charts. By doing so we’ll always have an updated template automatically saved with the name of the instrument where you dragged the indicator
  • Robin, alias Robin Flow, created a series of flow charts that explain all the rules one by one in a clear way. Thanks Robin-san!
  • Joe and April has worked a lot on the supply and demand spreadsheet, how to log trades, results and ratios, processes which will eventually done and synched automatically by the new Rectangle Reader indicator under development
  • Cédric created an external Metatrader tool that will allow us to create any key shortcut we want to manage Metatrader, like switching timeframes with numeric keys, using the TAB key to switch between toolbar tools like rectangle, trendline, vertical line, and other keys to move around Metatrader super fast as if you were playing Warcraft game   Sakis created the indicator version so that it can be used on MAC computers since the external application only works on Windows OS
  • Francesco has created an indicator that will allow us to synch charts by drawing and dragging a Vertical line, this will allow us to know where zones on the D1 were located on the Weekly and Monthly chart, or H4, any timeframe that has the indicator, even different instruments can be synched
  • Sakis created an indicator that will allow us to visual backtest on Metatrader by hiding all candle history at a selected date. Awesome tool!
  • Ivan is doing a daunting task to test Weekly WoW trades, Jan is doing something similar on D1 WoW trades. Already awesome results and ratios/stats on this high odds supply and demand scenario
  • Many others like Stuart, Daniel, Mike, Ale, April, Nate, Phil, Jan, Thomas, Vilis, Adrian and others (I missed a few for sure, it’s those that I remember by heart), are working hard on their 3:1 challenge and forward testing with Forex Tester. Their views on price action and supply and demand has changed after they started the testsAs you can see, a lot of things have happened in a single year, more to come! Remember, work hard, add belief an passion, the resulting recipe will have high odds of being a delicious dish of success.

Enjoy your day to the fullest!
Alfonso Moreno

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

Leave a Reply

Your email address will not be published. Required fields are marked *

     
 

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.