Recruitment of participants BMM SPOT X INDICATOR

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I bought this indi for $100 a while ago...

 

how is it ?

 

You have to use it in your own strategy and probably not as the seller is using it. It does repaint, for instance, if you shut down the chart/ pair or 'refresh' the same chart, many/ most of the signals change. I will show eg 4 win and 6 loss if you leave chart running over night but if you refresh the charts it suddenly becomes 8 win and 2 loss. Even though this is the case that it repaints, it is still worth it. It uses the principals of footprint data. That is if you know what it is and believe in footprints data. (Like DeltaRiver footprint software/ platform) Other people might know and build their strategies based on market profiling (market volume profiling).

Long story short, I know why it 'repaints' and I am fine with it... because I know how the indicator works, then it is logical that it will repaint the arrow/ signals when you refresh the chart. I will suggest you don't be bothered by it either. The indi makes a lot of guesswork out of the way, for sure!

PS What I don't like is that it forces you to have a certain color of candles, chart shift automatically switches to off and candle size is also forced upon you. You can immediately change it but each time you switch between TF or currency pair it does the above mentioned automatically.
I run it on a separate computer dedicated just for this indi. I am trying to incorporate it with all my other indicators to increase ITM rate. It will of course be useful in forex trading.

Hope this helps

 

This helps immensely. I am trading order flow already. However I need an alerter so that I dont have to sit on the charts all the time and I believe this will help. But could you swiftly elaborate on the reason why it repaints ?

 

It gives proper alerts. The way the indi is working or as the seller explains the strategy is that when price reaches a certain level (for reversal or continuation) it will paint a white bar above or below the current candle. The moment the price returns away/ back from this level, the the white bar will go away as well. This is also quite understandable and logic. BUT if the white bar stays there after the candle closed, then it your time for entry for a full candle trade in the direction the indi showed you. This is also logical and understandable.
The thing is, when refreshing the page/ chart, then the indi will not compensate or take wicks into account but only where the history of bodies entered the specific reversal or continuation areas. So when you refresh a chart that was drawing live signals for a proper while (depending on the TF), then of course the exact areas where signals were, will change. Some signals will be totally gone from that areas and chances are good that they were OTMs.
Seeing that you understand order flow (market profile etc.) and how informative it is or the edge it can offer, you will definitely benefit from this indi.
See attached a chart (xauusd) M5/ M15 that ran overnight and longer.
See the win/ loss rate. Total of a combined win of 6 and 8 losses. For the fun of it I have combined it with other arrow indis and sometimes you get 90% OTM's! and sometimes 90% ITM's.
But don't let this discourage you, for you know what and why the indi gave the signal, whether reversal or continuation. I am not interested in taking end of candle trades. If all my conditions are met on my strategy and this indi confirmed the reversal zone, then I feel safer to take the trade till end of candle, so I trade intracandles (whatever time is left of the current candle, whether 30seconds or 30m21secs)
BUT to take the trade on next candle open is ridiculous because the candle could have retraced just that exact movement needed for ITM which was wasted by waiting for previous candle close.
I am also in the telegram group where the seller shares signals... he is not that great, even with all the bells and whistles he might incorporate.

You know that saying: It is not what you have (or how big it is), it is how you use it.

You can/ will make a success

I will post a second screenshot of the same pair and TF that I will refresh now.
Changed to 10 ITM and 3 OTM (vs 6/8)
(So yes... non-repaint my a$$)

Cheers

1st pic (running long time on live market)




2nd pic (refreshed M5 and M15... like backtesting)

 

And remember Win rate (G1) % shows me there were a bunch of martingale trades that happened in the 1st pic. Many unsuccessful.

 

To elaborate on this (1 step Martingale) picture. 6 ITM vs 8 OTM

6 ITM @$1/trade= $6 in your pocket
8 OTM + 8 OTM (Martingale trades) = $16 out your pocket
Total of a minimum of minus (-) $10 for this period

This is just FYI stuff...

 

it's waste of time and money.

all binary indicators are garbage, including Zain v10, Pro Thunder V10 and so one....
i tested it all. and u can't be longterm profitable with this crap indicators.

 

All my indicators are my designs, only had people doing the coding for me. This is the only one I purchased. In the right hands the spot x indi can be worth something. I am currently checking whether I need it or not... there is always room for improvement. Did you buy or use the spot x? If not, don't judge too soon.

 

Yes, I have tested this Spot X indicator. First, I tested it in the OTC market, but the performance was really poor. Then, I tried it in the real market M5, and the results were not particularly good either. For me personally, it actually worked best in the M1. You have to filter the currency pairs based on performance. It's best to always choose pairs with a win rate of 80% and win rate G1 (100%).

 

I see, don't use it the way the seller describes. You have to take footprints or market profiling for what it is and why you are incorporating it into strategy. I won't do solid 1,5,15,30 mins (etc) trades. Only intracandle trades. 2nd it is suicidal towards your balance to trade OTC. I won't touch it with a stick.
Good luck in your trading journey!