We are in the Forex market to make money but all of us know it's easier said than done. The most important factor which ultimately makes or breaks the trading career is the trading framework using which we carry out the trades. Success in trading comes if the technique we are using to undertake any trade is sound. If we have faith in the framework we are using the most of the decisions will be rational and we will be less prone to take decision based on the emotional impulses.

Now that I have tested some success in Forex market I tried to look back on the things I have done right and things I have done wrong. In process I realized if we use multiple things to validate our single trade then probability of trade going right can rise to as much as 75% to 80%. Here I will be providing information on how we can use the various forums of Dukascopy Forex community to our advantage. The tools such as Visual J forex platform, trade feed of trader contest and Signal provider contest, views of fellow traders on important fundamental events listed for the day; can together help us in deciding which trade to choose and when to keep out of market.

Let us now look at how we can use each platform to form part of our trading framework.

Fundamental Analysis contest
This is a great forum to view the important events which are scheduled for the day and the week which can affect the valuations of the currency pair we are about to trade. Not only the event but also the likely impact of it is greatly discussed by the Dukscopy community members.

Looking at events we can decide whether to wait for it's completion or to undertake the trade beforehand.

Visual J forex
Once we have chosen to trade in a given currency pairs we must have trade set up which will guide us to take the trade with a high probability of success. Here the question will arise as how we can know if our trade set is profitable or not. The Visual J Forex platform provided by the Dukascopy is a great tool to automate our trading strategy and then do the back testing for years together to check for ourselves the probability and profitability of our trading framework.

Here I have built and tested numerous trading strategies of which some have remained with me to guide me in undertaking any trade. I will share one of the low risk high return strategy EMAHL1hC which I built using the Visual J Forex.

It is a algorithm which is basically a skillful combination of four different EMAs used on one hourly time frame coupled with the last two hourly candles. May be in my coming article I will be able to explain the whole idea used in building the algorithm.
Now the algorithm is ready but we need to know how much profitable it is over a long period of time in various circumstances.
To verify it's profitability I decided to test it for the Calendar year of 2016.

Trade settings are as fallows:
Trade Indicator = EMA
Trade amount = 1 million (10% of total funds)
Take Profit = 40 pips
Stop Loss = 20 pips
Test Duration = 1st Jan 2016 to 31st Dec 2016.


Looking at above results we can see our en devour of building a low risk high returns algorithm has been successful as while using only 10 % of total funds available to us we have been able to generate 60% returns which are quite high by industry standards.

Dukat Contest
We can use the Dukat contest J Forex trading platform to keep running the algorithm we have developed using Visual J Forex. As most of us know the richest Dukat members are rewarded every quarter we will have chance to win with the help of our algorithm.

Whenever the algorithm will execute the trade we can see it and then go on to check the additional parameters of the framework before manually executing the same trade on our live Forex account.

Dukascopy CoT Charts
Each Friday CFTC publishes CoT report which give in details the information regarding how the major players in Forex market who meet the reporting requirement of CFTC are positioned as of Tuesday of that week.We can use the simplified charts of CoT prepared by Dukascopy team based on CFTC report to effectively gauge the strength of the trend of the underlying currency pair.

Technical Analysis Feed
We can see the views of the top technical analyst of the Dukascopy community about the currency pair in which we are going to trade.

A single analyst may always go wrong but here we have the luxury of viewing the technical reports of multiple analyst and forming a view of our own.

Trader Contest's Trade Feed
Trader contest is a great place to learn from the best traders. We can check out the top traders from the standings as well as the trader who have been doing consistently well from the Signal provider standing page. Suppose if we are going to enter into the trade in USD/JPY we can always see how the other top traders are positioned in USD/JPY.


In addition we get to see aggregated data of all the contest accounts as well as the live account to find out the prevailing views regarding the direction of the currency pair of our choice. The open sentiments and the pending sentiments about the currency pair can help us in reinforcing our faith in the trade we are about to enter.

If we use the data wisely from above sources as well as any other source we can rely on I see no reason why we won't be profitable traders.
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