2. FLC Advanced – Webinar 2
With Vladimir Ribakov

3. FLC Advanced – Webinar 2
Judging by the comments and s I received, the majority of traders are already making profits using the FLC strategy and software! This is amazing news and you guys are progressing really quickly! Now that we are over the basics and you have started to get familiar with the trading system of Libra Code, it’s time to tighten your belt and learn some advanced things that can turn it from being a good system into MONSTER system for you. I know most of you are impatient and you want to get it all at once, but trust me, I’ve been there and it will just make things worse. STEP-BY-STEP is the key to success.

4. FLC Advanced – Webinar 2
Just like we want our performance curve to be going up, smoothly, without spikes, we also want a smooth learning curve which will ensure that you actually comprehend and master the additional materials as they come. O.K. SO LET’S GET TO IT!

5. FLC Advanced – Webinar 2 BREAK EVEN PRINCIPLE 101
There’s a built-in feature that allows us to set our Stop Loss to Break Even (entry level) once certain conditions are met. So what are they? For the sake of example, let’s assume we had a sell signal which we took Click Yes in the pop up window.
2. Sell Entry is then triggered.
3. Price reaches the last low.
4. Stop loss is moved to entry level.
This is basically how the feature works. Once last low/high after the entry is reached, the EA will protect the position. Let’s have a look at an example.

6. FLC Advanced – Webinar 2
Sell alert received and trade is confirmed by clicking YES. Now we see the lines on the chart and wait for a trigger.

7. FLC Advanced – Webinar 2
We got the entry and now wait for the trade to develop.

8. FLC Advanced – Webinar 2
Price moved down, reaching last low before the entry. At this point the EA will automatically adjust the stop loss to break even (entry level) in order to protect this trade from a loss.

9. FLC Advanced – Webinar 2
Here is a bullish example. Alert came in -> Clicked Yes. Now waiting for the entry.

10. FLC Advanced – Webinar 2
Long trade triggered.

11. FLC Advanced – Webinar 2
Last high before the entry was reached and the EA automatically moves the stop loss to break even.

12. FLC Advanced – Webinar 2 Summary:
Great for traders who can’t be around the monitor all the time, or when you want to leave for some time and don’t want to let the trade run unattended.
It might get you out at break even in a good setup due to price fluctuations and high liquidity.

13. FLC Advanced – Webinar 2
Setups To Ignore This one is really important so I want you to pay close attention. It is about setups that appear inside range moves. Setups I want you to learn how to spot and ignore. Sell Setup: Price didn’t break last two candles low. Buy Setup: Price didn’t break last two candles high.

14. FLC Advanced – Webinar 2
Setups To Ignore Would you take this trade?

15. FLC Advanced – Webinar 2
Setups To Ignore Would you take this trade?

16. FLC Advanced – Webinar 2
Setups To Ignore Would you take this trade?

17. FLC Advanced – Webinar 2
Setups To Ignore Would you take this trade?

18. FLC Advanced – Webinar 2
Opposite Signal While In A Trade It is not very often, but it does happen occasionally that we get an opposite signal while we are already in a trade. In this example we got a buy which was triggered.

19. FLC Advanced – Webinar 2 Opposite Signal While In A Trade
TP was missed by just a few pips
when price reversed, creating a
sell setup while we are still in a
buy.

20. FLC Advanced – Webinar 2 Opposite Signal While In A Trade
Here is the opposite scenario.
Sell trade that got stuck into a
range and then the market
direction changed to Bullish.
Of course we wouldn’t take such
setups because of the huge SL, but
bear with me for the sake of the
example.

21. FLC Advanced – Webinar 2 Opposite Signal While In A Trade
At the same time while the sell was running,
there was this buy setup that appeared as
well.

22. FLC Advanced – Webinar 2 Opposite Signal While In A Trade Conclusion:
Such situations are rare, but they do happen and we must be prepared to act properly.
When the 2nd setup appears: first of all check whether it is a good or bad one. If the setup is made out of 3 candles in total, stuck in a range, simply ignore it and let the original trade run.
If, however, the 2nd signal appears as a valid one that you would take, then close the current trade (early retirement) and take the opposite one.

23. FLC Advanced – Webinar 2
Next I want to show you another interesting situation that happens more often than the one we just reviewed.
I’m talking about the times when you enter a trade but the market loses its momentum and gets into a range, at which point one of the compasses changes its direction (usually the smaller time frame compass).

24. FLC Advanced – Webinar 2
While in a trade – market starts ranging.

25. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
This is how this one would end
up. There were numerous sell
signals while the buy trade was
on.
Obviously following the new
sell setups here would have
been the right decision.
Notice that if we apply
“early retirement” here, the buy
would also have finished with
some small profits!

26. FLC Advanced – Webinar 2
While in a trade – market starts ranging. Example 2

27. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
This trade ended up as
a winner, but
do you really want to be
stuck in this range?

28. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
Here is an example of a sell setup.
H1 compass switched to green after a few candles.

29. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
This is how the trade would end.

30. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
Conclusion:
Respect the market and the market will respect you back. The FLC software and the idea of the strategy are designed to serve up the BEST way into your entries, but also suggests when best to “save” some money by accepting market changes. REMEMBER – there are two approaches to trading. 1- Pure statistics – set & forget. Enter trade and let the statistics do their job. 2- Manage your trades – Follow your trade after you enter and “listen” to the story the market is telling you.
After all , saving few trades from potential loss, can improve your total performance greatly.

31. FLC Advanced – Webinar 2 While in a trade – market starts ranging.
Conclusion:
The last example alone is the perfect confirmation of that. Intead of fighting the market, hold the buy order, adapt to the current market conditions, and make money!
Scenario 1: Hold the buy till the end ignoring the reversal in the market and the new sell setups. OUTCOME: losing trade.
Scenario 2: Collect some profits when the market losses momentum (compass change). If you missed this first sign, the EA gave you 2 sell setup alerts afterwards! You take these trades and the OUTCOME: 1 partial profit, 1 or 2 full profits.

32. FLC Advanced – Webinar 2 Same Setup – Different Time Frame
There are situations where you would get two alerts at the same time, on the same instrument, but on two different time frames.
For example M5 and M15 or M15 and M30 or M5 and M1. Usually two time frames that are next to each other (one higher/lower).
Most likely this is the same setup and there is no need to expose yourself twice if you decide to take the trade.

33. FLC Advanced – Webinar 2
Same Setup – Different Time Frame

34. FLC Advanced – Webinar 2
Same Setup – Different Time Frame The setup on M5 (ignore current entry)

35. FLC Advanced – Webinar 2
Same Setup – Different Time Frame The setup on M15 (ignore current entry)

36. FLC Advanced – Webinar 2
How & Why These “Early Retirement” Tips Matter

37. FLC Advanced – Webinar 2
FLC Statistics I have developed a statistical indicator which will calculate during what period of the month a given instrument is likely to create a bottom or top. It is extremely useful and could be applied with any trading strategy or method.

38. FLC Advanced – Webinar 2 FLC Statistics – What are they?
The indicator consists of 4 columns designed as a table:
Day – shows the day of the month.
Up – how many times there were tops (all available history) in this specific date of the month. In the brackets you will find the same info as percentage ratio.
Down – how many bottoms were created for a specific day.
Both – it combines the info for Up & Down.

39. FLC Advanced – Webinar 2
FLC Statistics – What are they? You can arrange the data according to your needs based on any of the 4 columns. For example if you want to know when EURUSD is likely for form a top, you would arrange it by clicking the blue UP button. By default the data is arranged by days.

40. FLC Advanced – Webinar 2 FLC Statistics – How to use them
Open the ForexLibraCodeStatistics.zip file.
Double click the ForexLibraCodeStatistics.exe
Install the indicator to all MT4 platforms that you intend using it on.
Attach the indicator to your template (D1 only).
Adjust the position as per your requirements.
Sort the data.
These are the simple steps that you need to take in order to use the indicator. Once you do, the interesting part begins. Before we get to the examples, let me show you real quick how to move the indicator around the chart.

41. FLC Advanced – Webinar 2
FLC Statistics – How to use it Bring up the Indicators window (CTRL + I) and select ForexLibraCodeStatistics. Inside the Inputs Tab you will find the following settings. Use Xdistance and Ydistance (change the numerical values in order to move the indicator around the chart). In this example, I have moved it to the left corner by changing the Xdistance to 1630 which perfectly fits on my screen.

42. FLC Advanced – Webinar 2 FLC Statistics – How to use it
When you load the indicator and adjust the data to say Up or Down, you will notice that very often there are close ranges of dates where the Top/Bottom were created.
For example Dates 7, 9 and 10, or 25, 26, 29. Think of it like Support and Resistance.
S/R is never a line but more of a zone or area (horizontal one). With FLC Statistics and the ranges of dates, you will have again zones, but this time vertical ones.
Here is what I mean:

43. FLC Advanced – Webinar 2 FLC Statistics – How to use it
Arranged by DN (down), this way we are looking for bottoms.
See how there are close ranges of dates which create our vertical
reversal zone?
IMPORTANT: you should create the ranges based on numbers
that are close by. For example it is not very logical to combine
Day 13 (#1 at the top) with Day 11 (#31 at the bottom).

44. FLC Advanced – Webinar 2 FLC Statistics – How to use it
Day 11 in this case has created the least number of bottoms –
15, which represents 2% (2.0) of the total. So this is not a very
reliable day to count on for a reversal.
An example of good combination would be the following:
Days 13/18/16 (red)
Days 1/2/3 (blue)
Days 21/23/26 (green)

45. FLC Advanced – Webinar 2 FLC Statistics – How to use it
Based on the date ranges, you
can see how accurate the
indicator was at spotting
the Bottom Reversal zones.
And this is just the beginning.
Imagine what happens when
you combine it with simple
S/R... Combine the vertical and
horizontal powers.

46. FLC Advanced – Webinar 2 FLC Statistics – How to use it
Arranged to spot Tops:
Days 20/22 (red)
Days 15/15/17 (blue)
Days 25/27/29 (green)

47. FLC Advanced – Webinar 2 FLC Statistics – How to use it
I’m sure you have hundreds of ideas already for how to use this indicator in your trading. Let me show you how I use it with FLC.
What I would do is: mark on my chart the potential reversal zone where a top or bottom should be created and once it does, trade only in the opposite direction.
For example, if I find a bottom range, price actually creates a bottom and reverses up. Then I would only look for buy signals.

48. FLC Advanced – Webinar 2
Step 1 Bottom

49. FLC Advanced – Webinar 2
Step 2
Look only for buys

50. FLC Advanced – Webinar 2
Step 1 Top

51. FLC Advanced – Webinar 2
Step 2
Look only for sells

52. Thank you for your time!