Welcome to the summer 2024 web based edition of the digital digest. At present, the VIX has been pretty consistent over the past few months. There was a spike between the second and third week of April where it reached a high of over 19, but at present, it’s still above our “8” benchmark level, so we’re still in good trading territory. If you’re just starting out, it’s a good time to get your feet wet. If you’re an old hand, keep the pressure on.
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Check out our videos, and be sure you watch the following two first, if you’re new. Click on the YouTube image above to be taken to our channel.
Stonehill Forex — Who we are: This is the video that explains who Stonehill Forex is, what our objectives are, and how we can help you become a better and more profitable trader. We highlight the advance course — the only licensed and endorsed course by VP of NNFX, which takes over 220 videos and many hours of material (about 80) and condenses it in to a 10-hour streamlined course. See what each course module is, and when you’re ready, read about them on the website. The link to the video is, HERE.
Automation: In this video, we explain how you can back test using the MT4 strategy tester. This video was part of VP’s automation blog/video (which he mentions in each of our indicator profile collaborative videos) from September 2021. The link to the video is, HERE.
Below are recent blog & video additions to the site.
Composite Index: This CONFIRMATION indicator comes from Constance Brown, a well known figure in our world. This indicator is what’s known as an “unbounded” momentum tool, and something a bit new. As a two lines cross with nice smooth signal lines, go spend some time in Ms. Brown’s company. You can read more about it HERE.
XMA: Originally a multicolored line, this CONFIRMATION indicator was corrected and transformed into a histogram by Niels after we noticed some plotting issues with the original version. It employs a lot of high level moving averages, both as first level computation and second level filters, to give us that attractive below chart histogram. Check it out HERE.
Derivative Oscillator: Another great CONFIRMATION indicator from Constance Brown, and yet another easy to use histogram looking tool. This one is a derivative of the Relative Strength Index (RSI) with a sprinkle of moving averages thrown in for good measure. At the end of the day, it’s really a zero cross, but we’re not finger pointing. Take a look at this one right HERE.
Aroon: An old favorite and showcased by VP a few years ago as a fair to middling CONFIRMATION indicator, which some of you sent emails requesting us to profile and test it. While VP did not create a profile video, we did write the blog awhile ago, but just recently recorded a technical analysis video for your educational enjoyment. Take a look at this delightful nugget, HERE.
Revisiting RSI & CCI: These two older CONFIRMATION indicators which were the staple of many traders in most markets came back into the limelight when many of you asked about taking a closer look at them. So, we did. The results speak for themselves, and you can read about it HERE.
Smoothed Momentum: We take a deep dive into high school physics with this one, and you’ll see why we did. It’s not difficult, as this zero line cross makes for smooth signals that are easy to identify. With enough variables to make it interesting, you’ll have loads of fun playing with this one…which you can read about HERE.
TTMS: A very simple to use VOLATILITY indicator, this below chart color change requires a few adjustments to make it super easy to use. Be sure you read the blog first and then watch the video to see how it’s done. We go step-by-step to help you get this indicator tuned up. You can read all about it, HERE.
MBFX Timed: We discovered during our research that this CONFIRMATION indicator was renamed from Mark Jurik’s work called “Jurik RSX”, another derivative of the Relative Strength Index. It’s a below chart color change with a bit of a heads-up feature, we discuss at length in the blog and also in the video. A must-read for Jurik fans, for sure. That can be done, HERE.
WPR_ma: This oddball of a CONFIRMATION indicator caught our attention when we saw Larry Williams name pop up. He’s one of our “guys”, so naturally we were interested. It combined two indicators, the Williams Percent Range and a moving average, to create a below chart two lines cross. However, there was a slight twist in the calculations — so it’s not just two pieces of bread smashed together to make a boring sandwich. Check it out, HERE.
Top Trend: We revisited this indicator which was blogged about over two years ago. We were going through our listing and noticed there was no technical analysis video, so we decided to see why. After reading through it, we thought it was time to give this price overlay color change CONFIRMATION gem a makeover and reissue it. You can see why we thought it was a good idea, HERE.
Glitch Index: This whacky CONFIRMATION indicator certainly lived up to its name. We had some issues to work through, thanks to our eagle-eyed community members who pointed out some issues when trading with non-4x pairs. But, we got it figured out, edited the blog and uploaded the repaired version to the library for your download. That means, if you did put this one on your charts when we profiled it, be sure to change it out with the new and improved version. You’ll be happy that you did. You can read all about our adventures HERE.
Top Bottom: The subject of a few jokes and a handful of chuckles from some of you, this indicator came to us a bit flawed. However, when we looked into it, some code wasn’t quite up to snuff so it was fixed and the better version is now available only in our library. Try out this CONFIRMATION indicator, which looks like another one you’re all familiar with, HERE.
Blueberry Marketing Sign-up Bonus
Blueberry Markets is offering new accounts a 20% bonus on your initial deposit, up to $2,000!
$2,000 deposit + 20% = $2,400 ($400 free margin)
$5,000 deposit + 20% = $6,000 ($1,000 free margin)
$8,000 deposit + 20% = $9,600 ($1,600 free margin)
$10,000 deposit + 20% = $12,000 ($2,000 free margin)
You must use the portal links on the website to access the landing page in order to reap the bonus. There is a link for both MT4 and MT5. Both platforms are supported, and the bonus is good for either one. If you have any questions about this offer or how to go about signing up, drop us a line at [email protected]. The link to take you directly to the page on our website when you’re ready to sign up is: HERE!
This Month’s Topic
Should you let a “professional” trade your money?
(General)
We see this a lot…and I’ll bet, so do many of you. How many times have you received unsolicited emails or advertisements for managed systems or agents, brokers, account managers, fund managers, etc. who promise that you’ll make untold profits with just a mimimum investment of $500 or $1000? Over the years, I’d venture to guess that I’ve personally received well over 250 of these types of solicitations. Are they believable?
Let me tell you a true story and then you can decide.
Back in the late 2000s, I was introduced to a guy who said could be trusted and was the “bomb diggity” when it came to trading. He was properly licensed and happily accepted my $2500 (which was all the money I could scrape together) and he’d pool it with other managed funds to create all of us untold wealth. He actually said I’d better get mentally prepared for a life-changing experience.
Sooooo…
I opened an account where he traded and added his name. He asked that I don’t interfere, but to just watch the profits skyrocket.
So, I said, “Sure, man.”
Once it was all in place, I watched my account balance cycle up and down, sometimes in deep profit and other times in deep drawdown. At the end of the day, I was at about break even. It was nerve-racking. I finally got a chance to speak with him the next day. He sounded exhausted and described how he had to trade for nearly 24 hours straight to get things pretty much back to where it all started.
“Okay, man.”, I said.
The next day rolled around and I checked my account. It said $0.00. Thinking I must be looking at the wrong thing, I called the broker. They confirmed that my account balance was zero. So, in a panic, I called the guy. When I got him on the line, I asked what happened. His response:
“Bad trade. Sorry dude. Got more cash?”
Nearly in tears, I wailed, “But…what about untold riches? What about everybody else’s money?!” Between sips of coffee (I could hear the slurping noises), he chuckled and said (I shit you not)…
“That’s the way the cookie crumbles…got more cash?”
A hard lesson. But, it galvanized my will to learn it for myself and I’d never trust another “manager” again. By the way, a few years later I found out he was jailed for seven (7) years and fined over $5,000,000 for fraud, theft, and a host of other financially related infractions.
The moral of the story? Look out for yourself and learn for yourself. Our motto is not just from a fortune cookie. We genuinly mean it. We want you to become a better trader and one who profits. That ain’t no shit.
The game is beatable. We can help get you there.
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All the best,
Dan
“Our only goal is to make you a better trader.”