Submit by Lorenz
Fx Volcano is a trading system design with three modes and three main indicators. The system follows a step-by-step approach for entry and exit signals, using an entry/exit indicator, a currency strength/weakness dashboard, and a trading assistant to manage trades.
The system offers three operational modes that vary in risk, speed, and potential profit:
FXVOLCANO1 (Conservative Mode):
Description: Provides the most secure signals, with lower profit potential.
Target Audience: Traders who want to spend minimal time in front of the computer.
Recommendation: Suitable for all types of traders.
Timeframes: Longer timeframes (H1/H4/D1 for swing trading).
FXVOLCANO2 (Balanced Mode):
Description: The most universal mode, offering a balance between risk and profit.
Target Audience: Beginners and experienced traders.
Recommendation: Ideal for those seeking stable signals with limited risk.
Timeframes: Mid-range timeframes (M5/M15/M30 for day trading).
FXVOLCANO3 (Scalping Mode):
Description: Fastest signals with the highest profit potential, but also higher risk.
Target Audience: Advanced traders familiar with scalping.
Recommendation: For those who can handle quick market movements and rapid decisions.
Timeframes: Short timeframes (M1/M5 for scalping).
The system includes three key indicators:
Entry/Exit Indicator:
This indicator produces buy or sell signals based on price action or technical patterns.
Signals are color-coded (e.g., white for a sell signal on EUR/USD).
Currency Strength & Weakness Dashboard:
Displays the relative strength or weakness of different currencies.
This dashboard is crucial for confirming the validity of a signal.
Example: If the Entry Indicator gives a sell signal on EUR/USD, check if EUR is weak on the dashboard. If EUR is weak (displayed in white), the signal is valid.
Trading Assistant:
Manages trade execution, setting stop losses, take profits, and trailing stops based on the selected mode.
Helps automate trade management, reducing the need for constant monitoring.
Here is a step-by-step guide to how the system operates:
Pair Selection:
Start by selecting your favorite trading pairs (recommended: 4-8 pairs).
Choose the Timeframe:
Select the appropriate timeframe depending on your trading style:
Scalping: M1/M5.
Day Trading: M5/M15/M30.
Swing Trading: H1/H4/D1.
Wait for Entry Signal:
Monitor the Entry/Exit Indicator for a signal (e.g., a sell signal on EUR/USD).
Confirm with Currency Strength Dashboard:
After receiving a signal, confirm it by checking the dashboard. If the signal suggests selling EUR/USD, check if EUR is weak (displayed in white). Matching the colors confirms the trade.
Execute the Trade:
Once the signal is confirmed, use the Trading Assistant to enter the trade.
Set the stop loss and take profit levels according to the mode:
FXVOLCANO1: Conservative risk with wider stops and smaller position sizes.
FXVOLCANO2: Balanced risk with moderate stops and position sizes.
FXVOLCANO3: Aggressive scalping with tight stops and larger positions.
Trade Management:
The Trading Assistant will manage the trade automatically, adjusting stop losses, trailing stops, and exiting the trade when necessary.
Signal Received:
The Entry/Exit Indicator produces a sell signal for EUR/USD (signal color: white).
Dashboard Confirmation:
Check the Currency Strength Dashboard to see if EUR is weak (white). If it matches, the sell signal is valid.
Execute:
Use the Trading Assistant to place a sell order on EUR/USD, setting stop loss and take profit based on your chosen mode (FXVOLCANO1 for conservative, FXVOLCANO2 for balanced, or FXVOLCANO3 for scalping).
Monitor:
Allow the Trading Assistant to manage the trade until either the stop loss or take profit level is hit, or adjust manually if necessary.
FXVOLCANO1: Secure, low-risk trades with limited profits. Ideal for traders who want minimal screen time.
FXVOLCANO2: Balanced signals for all levels of traders, with moderate risk and profit potential.
FXVOLCANO3: Fast, high-risk signals for advanced traders familiar with scalping techniques.
By following the system’s three-step confirmation process (signal, dashboard check, trade execution), traders can minimize risks and increase the probability of successful trades.
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