After you copy the Venom Trading System files and run MetaTrader 4, open any volatile pair such as EUR/USD,  GBP/USD or any other major pair that you want to trade. Set chart time frame to  1min and then apply both of the indicators supplied with this tutorial. After  applying both indicators you can switch to any time frame you want and click chart  shift button. Well, you will see a chart like this:



Venom Trading System Overview and Rules:
Before I teach you how to trade with this system I would like to give some basic information:

1. Trading opportunities presented by the system are based on the alignment of Vectorial Bias, Support/Resistance Level 1 (S/R Level 1) and Support/Resistance Level 2 (S/R Level 2).

2. Trading hours is from 5.00 GMT to 16.00 GMT. Please ensure that the Venom System is running before 5.00 GMT so that no signals are missed and to prevent late entries. Remember, the first Buy or Sell signal (first alignment of Vectorial Bias, S/R Level 1 and S/R Level 2) beginning 5.00 GMT present high probability trades. For the first Buy or Sell signal (first alignment of Vectorial Bias, S/R Level 1 and S/R Level 2), Venom Signal will display the price and time on the chart and Venom Alert will popup. The first alignment of the day always provides profitable trades.

3. For the second alignment onwards, Venom Alert will continue to popup but Venom Signal does not change its display. Trading the second alignment onwards is only recommended for experienced traders, for traders who have a feel for the system (know how to use the Venom Dashboard effectively) or for traders who are using Venom Trading System as reference to other techniques.

4. Minimum take profit is 30 pips. Stop loss is 40 pips. Set trailing stop at 15 pips. To take profit at higher levels, please refer to the section describing ‘Positional Bias’.

Venom Trading System Dashboard Symbols:



Vector Bias:
The arrows show the market direction. When the Vectorial Bias of all six Venoms are aligned, the probability that the market moves in the particular direction is high. When the directions are mixed, the market is normally indecisive.

 

S/R Level 1 and S/R Level 2:
Shows the support and resistance (S/R) levels of the market. Each “Venom” (Venom 1, Venom 2, Venom 3…) has its unique Support and Resistance levels. The color reflects the direction of Vectorial Bias. High probability buy / long trades exist when price is above its support level and significantly far from a resistance level. High probability sell / short trades exist when price is below its resistance level and significantly far from a support level.



Positional Bias:
Positional Bias shows the bias of the market based on the price position / location. It is monitored to decide whether to hold or to exit a trade when in profit.


Venom Zone:



The blue bars on the price chart, show the market trend. Also act as strong support or resistance levels.

A- Mini Trend Zone
When price is above the zone, mini trend is up. When price is below the zone, mini trend is down.

B- Medium Trend Zone
When price is above the zone, medium trend is up. When price is below the zone, medium trend is down.

C- Major Trend Zone
When price is above the zone, major trend is up. When price is below the zone, major trend is down. This zone is a very strong support / resistance level.

If we look at the chart above, it means:
Mini trend: Up
Medium Trend: Range bound
Major Trend: Down

Download Venom Trading System Indicators, Templates and Venom Manual
Download Include:

• Venom Manual (word doc. - Venom Manual in details)
• VENOM A.ex4
• VENOM B.ex4