Back in 2010 Mark Fric released the Forex Morning Trade system for the first time, and since then it has generally been very well received. Indeed if you look at Mark's trading journal, he has made some excellent profits trading this particular system.
So what kind of profits can you expect?
Well I should start by saying that this is not a system that will make you insanely rich in a short space of time. However there are very few systems that can do this.
As you can see by reading this Forex Morning Trade review, this system trades breakouts on the GBP/USD pair shortly before the European markets open each day. So therefore it will only trade a maximum of 5 trades per week if the trading criteria are satisfied.
Profits are in the region of 35-40 points, with similar stop loss levels. Therefore the maximum profit you can make is around 200 points per week. However there are often one or two losing trades per week and the occasional no trade days, so a 40 or 80 point profit per week is generally the norm on a good week.
So as I say, you cannot expect to make a lot of money trading the Forex Morning Trade system. However if you are looking for a solid and consistent system that will generate profits slowly and steadily, then you may want to consider purchasing this trading system.
The system itself is easy to use as it only uses a few key indicators, and there is a forum you can visit should you encounter any problems. There is also an expert advisor you can use if you want to place the trades automatically. So it is easy to see why this system has received a lot of positive comments on the various forums and review sites.
Tuesday, 11 October 2011
Friday, 9 September 2011
Forex Profit Accelerator Software
The Forex Profit Accelerator software is set to be released in a few hours time at 1.00PM EST on 26th September, and it is a follow up to the original course which taught you 4 different trading methods that you could use on the daily charts at the end of each day.
It proved to be a very popular course, and it has now been bettered because the Forex Profit Accelerator software alerts you to the best trading opportunities so you don't have to scan through the various price charts yourself.
You will be able to trade the markets, and make money from forex trading, in just 20 minutes per day. The trading software will alert you to the latest set-ups as they happen, so you can decide which trades you want to take. These alerts are based on each of the 4 trading methods, so you should find plenty of trading opportunities every day.
If you are not familiar with the original Forex Profit Accelerator course, Bill Poulos (the product creator) provided you with 4 trading strategies all based on the daily charts.
There was the Instant Pips method which looked to capture 40-100 pips per trade, the Pip Reversal method which looked to generate 100-300 pips per trade and two Pips Maximizer methods that were each capable of generating 300-500 pips per trade.
You still get these trading methods with the software, but now you can have this custom built software alert you to the best trades as well. There are numerous training videos and manuals included with the course that will teach you each of these trading strategies, and how to use the software.
You do not even have to use the software if you don't want to. Some people prefer to find their own trades. However this software will save you a lot of time.
As I say, the Forex Profit Accelerator trade alert software is being released later today and the product will be available to buy for a few days until it inevitably becomes sold out. It will be available from this Forex Profit Accelerator sales page after 1.00PM EST.
Whilst you are waiting you may want to watch some pre-launch videos that show you how the software works. Click here to start watching these videos, and to learn how this software can help you generate some serious profits from forex trading.
It proved to be a very popular course, and it has now been bettered because the Forex Profit Accelerator software alerts you to the best trading opportunities so you don't have to scan through the various price charts yourself.
You will be able to trade the markets, and make money from forex trading, in just 20 minutes per day. The trading software will alert you to the latest set-ups as they happen, so you can decide which trades you want to take. These alerts are based on each of the 4 trading methods, so you should find plenty of trading opportunities every day.
If you are not familiar with the original Forex Profit Accelerator course, Bill Poulos (the product creator) provided you with 4 trading strategies all based on the daily charts.
There was the Instant Pips method which looked to capture 40-100 pips per trade, the Pip Reversal method which looked to generate 100-300 pips per trade and two Pips Maximizer methods that were each capable of generating 300-500 pips per trade.
You still get these trading methods with the software, but now you can have this custom built software alert you to the best trades as well. There are numerous training videos and manuals included with the course that will teach you each of these trading strategies, and how to use the software.
You do not even have to use the software if you don't want to. Some people prefer to find their own trades. However this software will save you a lot of time.
As I say, the Forex Profit Accelerator trade alert software is being released later today and the product will be available to buy for a few days until it inevitably becomes sold out. It will be available from this Forex Profit Accelerator sales page after 1.00PM EST.
Whilst you are waiting you may want to watch some pre-launch videos that show you how the software works. Click here to start watching these videos, and to learn how this software can help you generate some serious profits from forex trading.
Tuesday, 23 August 2011
The Importance Of Money Management When Forex Trading
If you have any experience of forex trading, you will probably have discovered very early on that it is very hard to make money, but very easy to lose money. Furthermore it is often really difficult to bank really big profits from a trade because the temptation is always there to take profits as soon as they present themselves, whilst it is always hard to cut losing trades early and therefore they can accumulate really quickly.
That's why money management is vitally important. If you don't apply sound money management principles, then the reality is that you are unlikely to become a profitable trader in the long run.
The best traders cut their losing trades early and let their winning trades run for as long as possible, and this is something that you should strive to do as well. There is no point having lots of winning trades of say 10 pips, when one losing trade could cost you 200 pips and wipe out all your previous gains.
Another important aspect of money management is knowing how much risk to take per trade. The worst thing you can do is vary your stake every time you trade depending on how confident you are because this will probably result in losses being made at some point.
It is better to develop a profitable system first of all, and then risk a certain percentage of your current capital on each trade. That way your account will grow nicely if you are successful as your stake will rise in accordance with your account balance.
Expert professionals often recommend that you should risk no more than around 3% on any one trade. If you risk more than this, say 10% for example, then you only need a few losing trades to make a big dent in your account. So 2-3% is just about ideal because it will still enable you to grow your account nicely in the long run due to the effects of compounding.
Anyway the point is that capital preservation is an important aspect of forex trading, because you need to stay in the game in order to generate long term returns. If you are risking too much per trade, or are using large stop losses whilst targeting smaller gains per trade, then I'm afraid you are unlikely to be successful in the long run and will probably end up losing most of your capital at some point.
That's why money management is vitally important. If you don't apply sound money management principles, then the reality is that you are unlikely to become a profitable trader in the long run.
The best traders cut their losing trades early and let their winning trades run for as long as possible, and this is something that you should strive to do as well. There is no point having lots of winning trades of say 10 pips, when one losing trade could cost you 200 pips and wipe out all your previous gains.
Another important aspect of money management is knowing how much risk to take per trade. The worst thing you can do is vary your stake every time you trade depending on how confident you are because this will probably result in losses being made at some point.
It is better to develop a profitable system first of all, and then risk a certain percentage of your current capital on each trade. That way your account will grow nicely if you are successful as your stake will rise in accordance with your account balance.
Expert professionals often recommend that you should risk no more than around 3% on any one trade. If you risk more than this, say 10% for example, then you only need a few losing trades to make a big dent in your account. So 2-3% is just about ideal because it will still enable you to grow your account nicely in the long run due to the effects of compounding.
Anyway the point is that capital preservation is an important aspect of forex trading, because you need to stay in the game in order to generate long term returns. If you are risking too much per trade, or are using large stop losses whilst targeting smaller gains per trade, then I'm afraid you are unlikely to be successful in the long run and will probably end up losing most of your capital at some point.
Friday, 19 August 2011
Automated Forex Signals
People have been subscribing to forex signals for years now, but one of the trends that we have seen emerge in recent years is that more and more people are starting to use automated forex signals as well. So what exactly are automated forex signals and how do they differ from the conventional signals?
Well ordinarily you subscribe to a signal provider and in return they send you their trading signals. It is then up to you to trade these signals as soon as possible with your own broker so that you trade your positions at roughly the same price.
However with automated trading signals you don't have to place any trades at all. The signals that are generated are automatically placed in your account whenever the provider opens or closes a trade themselves. This means that you can continue working full time and getting on with other things, whilst still making money from forex trading.
As always happens when a new trend emerges, you get lots of websites being created that are all designed to grab a slice of the pie. However there is one site that is head and shoulders above the rest in my opinion - Zulutrade.
As you can see by reading this ZuluTrade review, this website hosts thousands of different signal providers and you can subscribe to as many of them as you like completely free of charge. All of the signals generated by these traders are then replicated in your own brokerage account.
You have to be cautious because some of these providers take big risks and even the consistently profitable ones can occasionally experience big losses. Nevertheless if you take some time to look at the statistics of each one and analyze their trades in order to pick out the most profitable ones that have minimal draw-downs, you should be able to make some decent profits.
So to sum up, I would say that you should definitely consider giving automated forex signals a try, particularly if you haven't yet been able to make money from forex trading yourself. There is potentially a lot of money to be made from currency trading, and there's nothing wrong with having someone else generate the trades if that's the road you want to go down.
Well ordinarily you subscribe to a signal provider and in return they send you their trading signals. It is then up to you to trade these signals as soon as possible with your own broker so that you trade your positions at roughly the same price.
However with automated trading signals you don't have to place any trades at all. The signals that are generated are automatically placed in your account whenever the provider opens or closes a trade themselves. This means that you can continue working full time and getting on with other things, whilst still making money from forex trading.
As always happens when a new trend emerges, you get lots of websites being created that are all designed to grab a slice of the pie. However there is one site that is head and shoulders above the rest in my opinion - Zulutrade.
As you can see by reading this ZuluTrade review, this website hosts thousands of different signal providers and you can subscribe to as many of them as you like completely free of charge. All of the signals generated by these traders are then replicated in your own brokerage account.
You have to be cautious because some of these providers take big risks and even the consistently profitable ones can occasionally experience big losses. Nevertheless if you take some time to look at the statistics of each one and analyze their trades in order to pick out the most profitable ones that have minimal draw-downs, you should be able to make some decent profits.
So to sum up, I would say that you should definitely consider giving automated forex signals a try, particularly if you haven't yet been able to make money from forex trading yourself. There is potentially a lot of money to be made from currency trading, and there's nothing wrong with having someone else generate the trades if that's the road you want to go down.
Thursday, 18 August 2011
Day Trading - When Should You Trade Forex Breakouts?
Day trading is very popular with a lot of forex traders because you can bank profits in a short space of time, and you do not have any sleepless nights because all of your trades are closed out before the end of the day. One of the most popular ways of generating these profits is by trading forex breakouts. So in this post I want to discuss the best time of the day to trade these breakouts.
The fact is that if you are based in the US or certain other countries, you may well find that the markets have already moved an awful lot before the US market has even opened. So a lot of time it will not be possible to trade any breakouts if that is the case.
If you are based in Europe, however, it is a lot easier to profit from these breakouts because many of them occur during the first few hours of the European trading session. You often have a quiet overnight period when the major pairs such as the GBP/USD and the EUR/USD barely move, and then a surge in volatility when the European markets open.
This is when you often get the big price moves that set the tone for the rest of the day. So the key to profiting from these breakouts is to wait until you get an overnight trading range that is very low, and then enter a position as soon as the price breaks out of this range. This will nearly always be after the London and European markets open, and you can often bank an easy 20 or 30 points.
Of course you may not be able to do this on every major pair every single day because sometimes the price will have moved a lot overnight. So any subsequent breakout that occurs may not move that much and you may have to take a loss.
Anyway the point is that with all things being considered, the best time of the day to trade intraday forex breakouts is generally during the first few hours of the European trading session. If you are not available to trade during this time, then you will probably want to abandon the idea of trading breakouts and concentrate on finding another type of trading strategy instead.
The fact is that if you are based in the US or certain other countries, you may well find that the markets have already moved an awful lot before the US market has even opened. So a lot of time it will not be possible to trade any breakouts if that is the case.
If you are based in Europe, however, it is a lot easier to profit from these breakouts because many of them occur during the first few hours of the European trading session. You often have a quiet overnight period when the major pairs such as the GBP/USD and the EUR/USD barely move, and then a surge in volatility when the European markets open.
This is when you often get the big price moves that set the tone for the rest of the day. So the key to profiting from these breakouts is to wait until you get an overnight trading range that is very low, and then enter a position as soon as the price breaks out of this range. This will nearly always be after the London and European markets open, and you can often bank an easy 20 or 30 points.
Of course you may not be able to do this on every major pair every single day because sometimes the price will have moved a lot overnight. So any subsequent breakout that occurs may not move that much and you may have to take a loss.
Anyway the point is that with all things being considered, the best time of the day to trade intraday forex breakouts is generally during the first few hours of the European trading session. If you are not available to trade during this time, then you will probably want to abandon the idea of trading breakouts and concentrate on finding another type of trading strategy instead.
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