If you are a new forex trader than you must be hopping from one trading system to another looking for something that can work for you. Trying one forex robot after another won't make you a forex trader. What you need to do is to learn the basics of forex trading.
Many successful forex traders still trade with their manual trading systems. Most of them still use manual forex trading strategies. However, once the forex strategy is proven and tested under different market conditions and gives very good results, you can convert that forex stratey or what you call a system into a EA or an Exert Advisor.
But straight away, you cannot develop or program a forex strategy into a robot or an EA. As a forex trader what you need is a forex strategy that makes money for you in as little time as possible. Sitting in front of your computer screen won't make you into winning forex trader.
Staring at the computer screen for hours can be dangerous for your physcial health. What you need is a forex strategy that does not take more than 15-30 minute to makes many pips for you. How about making at least a 100 pips daily.
Meet John Wilson, a professional forex trader. He developed a forex strategy based on trading the breakouts in the forex market. In the forex market breakouts usually happen when economic reports like the NFP Report or the FOMC Report is released. NFP Report has become very important over the years. As the economy went into recession, unemployment data has become very important for the markets.
Almost all the markets that includes stocks, forex, futures and others. Now, when the breakout takes place in the market and if you are on the right side of the market, you can make hundreds of easy pips in just a matter of few moments. This is exactly what John Wilson Forex Breakout Trading Strategy is based on.
In the video he shows how made $7,662.00 in just a few moments when he entered a short trade and the market went down with a big bang. Similalry in the same video, John shows how he made a nice $1,611.00 profit in just a matter of few minutes trading a similar breakout in the Asian Session of the market. John calls his FREE Forex Strategy as Forex Supersonic Strategy.
Now, John is giving away his manual forex breakout trading strategy FREE. You can simply download it as a complimentary gift from John. But when John gave away his forex breakout trading strategy FREE, he kept on getting emails from alot of traders who were happy with his FREE forex strategy but wanted him to convert it into an EA.
Traders wanted an EA that could automatically implement that forex breakout trading strategy without their sitting in front of their computer screens. So, John has now developed an EA also that he calls the Forex Supersonic Robot EA.
Now, John is willing to even give you his Forex Supersonic Robot EA that makes for him on average $36,063 every month at a small price of not more than $100. What you need to do it is to take a look at the manual forex supersonic strategy and if you want to try the Forex Supersonic Robot EA do that too RISK FREE for 60 days.
The best way to test the manual as well as the automated version of the Forex Supersonic Strategy is on your demo account. If you find it as profitable as it is for John, keep it to make $36,063 per month or simply for for a refund. Good Luck!
Forex Trading Strategy, click to Watch our Free Trading Videos and get a Free Trading Stratagies Forex Course! Trading Courses Simple to Understand!
Why You Should Not Use Buy-and-Hold Strategies in Forex Trading
Some Forex traders, particularly those who are just starting out and don't want to close their trades, use buy-and-hold strategies. However, although these types of strategies can work outside the Forex market, they don't really work inside it.
A buy-and-hold strategy is used to hold onto losing trades, in the hope of them coming up in value eventually in the long run. This is logical; if a trade is losing, you hold onto it until it becomes profitable. However, if the currency market really worked like this, everyone would be rich because no one would ever lose.
Buy-and-hold strategies are used a lot in real estate. The economies of developed countries usually go through boom-and-bust cycles, where the prices of assets can rise and fall cyclically. Those who invest in real estate usually see through bad economic times and wait them out until the economy resumes to normal, where they can then sell the assets or at least just feel happier about them, knowing that they are once again worth something significant - but currencies don't work like this.
The prices of currencies tend to trend strongly in particular directions; their values typically trend in one direction in the long run. This is exactly why buy-and-hold strategies don't work particularly well in the market for currencies. By holding onto a losing trade, your losses will simply build up and up. If you'd applied leverage to a losing trade, you would eventually meet your Forex broker's maintenance margin and end up having to cut your losses the hard way. This can lead Forex traders to go completely out of business.
In the FX market, it's best to cut your losses when you can and not let them run; let your profits run but not your losses. Good money management and implementation of good money management techniques can help to avoid your losses from running. You should have a good Forex trading plan and you should follow it, if you want to avoid your losses from building up and up.
It's best to use a proper Forex trading strategy in conjunction with good trading tactics; this way you stand a much greater chance of profiting in the Forex market. Beginners especially need to understand that currency trading is not about winning with every single trade and that losses are inevitable. You just need to focus on maximizing the amount of profitable trades you get and minimizing the amount of losing trades you get. Never hold onto losing trades as they will most likely bring you huge losses in the future which will be difficult for you to afford, especially if you traded on margin.
In conclusion, buy-and-hold strategies do not generally work in the market for currencies. Whilst they might work outside of the Forex market, they don't really work inside it. It would be a far better idea to manage your money properly and cut your losses by placing stop-loss orders and by using other important money management techniques. You should devise a Forex trading plan and follow it; this way you will be able to stay disciplined with your trading and consistent, helping you to take more profits. A losing trade is losing, so you should get rid of it and move on; look for more potentially profitable opportunities in the markets - there are many.
A buy-and-hold strategy is used to hold onto losing trades, in the hope of them coming up in value eventually in the long run. This is logical; if a trade is losing, you hold onto it until it becomes profitable. However, if the currency market really worked like this, everyone would be rich because no one would ever lose.
Buy-and-hold strategies are used a lot in real estate. The economies of developed countries usually go through boom-and-bust cycles, where the prices of assets can rise and fall cyclically. Those who invest in real estate usually see through bad economic times and wait them out until the economy resumes to normal, where they can then sell the assets or at least just feel happier about them, knowing that they are once again worth something significant - but currencies don't work like this.
The prices of currencies tend to trend strongly in particular directions; their values typically trend in one direction in the long run. This is exactly why buy-and-hold strategies don't work particularly well in the market for currencies. By holding onto a losing trade, your losses will simply build up and up. If you'd applied leverage to a losing trade, you would eventually meet your Forex broker's maintenance margin and end up having to cut your losses the hard way. This can lead Forex traders to go completely out of business.
In the FX market, it's best to cut your losses when you can and not let them run; let your profits run but not your losses. Good money management and implementation of good money management techniques can help to avoid your losses from running. You should have a good Forex trading plan and you should follow it, if you want to avoid your losses from building up and up.
It's best to use a proper Forex trading strategy in conjunction with good trading tactics; this way you stand a much greater chance of profiting in the Forex market. Beginners especially need to understand that currency trading is not about winning with every single trade and that losses are inevitable. You just need to focus on maximizing the amount of profitable trades you get and minimizing the amount of losing trades you get. Never hold onto losing trades as they will most likely bring you huge losses in the future which will be difficult for you to afford, especially if you traded on margin.
In conclusion, buy-and-hold strategies do not generally work in the market for currencies. Whilst they might work outside of the Forex market, they don't really work inside it. It would be a far better idea to manage your money properly and cut your losses by placing stop-loss orders and by using other important money management techniques. You should devise a Forex trading plan and follow it; this way you will be able to stay disciplined with your trading and consistent, helping you to take more profits. A losing trade is losing, so you should get rid of it and move on; look for more potentially profitable opportunities in the markets - there are many.
Forex Trading System - A Simple & Effective Forex Strategy Anyone Can Use
One of the most frequently asked questions I get from new students at FX University is "Do you have a forex trading system that I can use that doesn't require I spend much time in front of my computer?"
Now, generally as soon as I receive this question I immediately question the motive of the individual. I mean let's face it, most people want something without having to work for it and trading the Forex market is certainly no place for someone that isn't willing to roll-up their sleeves and get dirty. On the other hand, the reality is that most Forex Traders have full-time jobs, families and a host of other responsibilities so becoming a professional Forex trader is simply not an option.
Given the demand, I spent some time digging through my preverbal toolbox and came up with a simple and effective Forex trading strategy that ANYONE can use. The strategy is called "The Weekend Warrior".
Now before we get to the strategy I'd like to first take a minute and explain a Moving Average as it is the basis for the strategy. If you're already familiar with a Moving Average please feel free to skip down to "Here's How The Weekend Warrior works:"
One of the most widely used technical indicators of Forex Traders is the Moving Average. The Moving Average is an indicator which shows the average value of a security being analyzed over a determined period of time.
There are many mathematical variations of the MA applied specifically to Forex trading; however, they all are attempting to accomplish virtually the same purpose: to predict patterns in currency movements that will allow Forex traders to enter and exit a position at the most profitable time of a trend shift.
Traditionally, a shorter (faster) MA is plotted on a chart along with a longer (slower) MA. The cross of the faster MA into the slower MA from above would be considered a bearish move or possible downward trend. Inversely, the cross of the slower MA from below back above a slower MA would be a signal of a bullish move or possible upward trend.
Here's How the "The Weekend Warrior" works:
On a daily chart insert a Moving Average (MA) 10 and a Moving Average (MA) 40.
Long Position: Each Friday before the close, buy any currency on a 9-day break-out, if the MA10 is above the MA40. Hold the position over the weekend and Monday morning close the position out for a profit.
Short Position: Each Friday before the close, sell short any currency on a ten day break-out, if the MA10 is below the MA40. Hold the position over the weekend and Monday morning close the position out for a profit.
Leverage: Use your existing money management strategy or we recommend less than 1% equity.
Why does it work? For one, because other people aren't doing it. And two, you're capitalizing on a pre-defined gap that occurs between the close and open of the currency market.
Now go mark your calendar for next Friday and give it a try. The results will speak for themselves and who knows TGIF could have a whole new meaning for you.
Dr. Elena Peters is the founder & CEO of FX University a premier Forex Education company that provides investors with precise, replicable and profitable trading systems that ANYONE Can Use!
Dr. Peters is also a Sr. Currency Trader with TradeBridge FX; a CFTC/NFA registered alternative investment firm that offers independently managed accounts to high net-worth individuals and institutional investors.
Now, generally as soon as I receive this question I immediately question the motive of the individual. I mean let's face it, most people want something without having to work for it and trading the Forex market is certainly no place for someone that isn't willing to roll-up their sleeves and get dirty. On the other hand, the reality is that most Forex Traders have full-time jobs, families and a host of other responsibilities so becoming a professional Forex trader is simply not an option.
Given the demand, I spent some time digging through my preverbal toolbox and came up with a simple and effective Forex trading strategy that ANYONE can use. The strategy is called "The Weekend Warrior".
Now before we get to the strategy I'd like to first take a minute and explain a Moving Average as it is the basis for the strategy. If you're already familiar with a Moving Average please feel free to skip down to "Here's How The Weekend Warrior works:"
One of the most widely used technical indicators of Forex Traders is the Moving Average. The Moving Average is an indicator which shows the average value of a security being analyzed over a determined period of time.
There are many mathematical variations of the MA applied specifically to Forex trading; however, they all are attempting to accomplish virtually the same purpose: to predict patterns in currency movements that will allow Forex traders to enter and exit a position at the most profitable time of a trend shift.
Traditionally, a shorter (faster) MA is plotted on a chart along with a longer (slower) MA. The cross of the faster MA into the slower MA from above would be considered a bearish move or possible downward trend. Inversely, the cross of the slower MA from below back above a slower MA would be a signal of a bullish move or possible upward trend.
Here's How the "The Weekend Warrior" works:
On a daily chart insert a Moving Average (MA) 10 and a Moving Average (MA) 40.
Long Position: Each Friday before the close, buy any currency on a 9-day break-out, if the MA10 is above the MA40. Hold the position over the weekend and Monday morning close the position out for a profit.
Short Position: Each Friday before the close, sell short any currency on a ten day break-out, if the MA10 is below the MA40. Hold the position over the weekend and Monday morning close the position out for a profit.
Leverage: Use your existing money management strategy or we recommend less than 1% equity.
Why does it work? For one, because other people aren't doing it. And two, you're capitalizing on a pre-defined gap that occurs between the close and open of the currency market.
Now go mark your calendar for next Friday and give it a try. The results will speak for themselves and who knows TGIF could have a whole new meaning for you.
Dr. Elena Peters is the founder & CEO of FX University a premier Forex Education company that provides investors with precise, replicable and profitable trading systems that ANYONE Can Use!
Dr. Peters is also a Sr. Currency Trader with TradeBridge FX; a CFTC/NFA registered alternative investment firm that offers independently managed accounts to high net-worth individuals and institutional investors.
Why Your Forex Trading Strategy Should Be Simple and Not Complex
Many traders and investors in the market for currencies, especially beginning ones, assume that simple Forex trading strategies are not plausible. However, the simpler ones can actually prove to be the more profitable and ideal ones too.
The problem is, we generally tend to be more impressed by complexity rather than simplicity. If a beginner reads up on a complicated trading strategy that they can hardly begin to understand, they immediately presume that the strategy in question will allow them to deduce significant profits, or at least more profits than other strategies that are less complicated. In reality, it doesn't matter how complex or sophisticated a particular strategy is or sounds; as long as you understand your trading strategy and it actually does work when you put it to use, then you should continue to use it no matter what. If your currency trading strategy doesn't work, then change parts of it and adapt it. Forex trading is ultimately all about trial-and-error learning, so don't lose your confidence if you make a bad start; you should just persevere until you actually find a strategy that does work. Unfortunately many beginners don't persevere and this is one of the main reasons why Forex traders fail.
Really, it's pointless using a strategy that you don't even understand, in the Forex market. In fact Forex traders, especially beginning ones, tend to fail when using more complex trading strategies. This is because not only do they struggle to understand them and get confused, but the more complex ones also tend to be less adaptable to the ever-changing market that is the currency market. The more simple Forex trading strategies on the other hand, work more effectively in general, as not only are they easier to understand and carry out, but they are also far easier to adapt and change. There's no real need to complicate things as Forex trading is difficult already and you will only be making things even more difficult by choosing a strategy that is difficult to understand, use and adapt.
Of course if you are a more experienced Forex trader, you will be able to develop your own trading strategy that might be very complex indeed, but until you are an experienced trader, you should stick with what works. The more experienced currency traders can get away with more complex trading strategies, since they can develop their own, meaning that they actually understand their the strategies that they use and know how to adapt them in the future. After all, your trading strategy should be yours and yours only, really. Of course, you will most likely want to use a well-known one to form a basis for your own strategy, but you shouldn't copy (or worse, buy) other Forex trading strategies ready-made because there just isn't any real logic to this at all.
Currency trading strategies tend to develop over time naturally, among traders and investors. As already mentioned, Forex trading is all about trial-and-error learning and if at first you don't succeed, try and try again. Also, even if you do eventually develop a profitable trading strategy, always be looking to test out other ones using demo accounts for example, because the conditions of the FX market are ever-changing and you need to be dynamic, if you want to be a profitable Forex trader. Unfortunately you will never know everything there is to know about Forex trading and even if you do start to profit, if you stand still you will start to go backwards.
In conclusion, your Forex trading strategy should be simple and not complex, because if it is simple you will stand more of a chance of understanding it. Simple currency trading strategies also tend to be easier to adapt to the ever-changing conditions of the market for currencies, allowing you to become a more dynamic Forex trader. Also lastly, regardless of whether you are making losses or deducing profits; always look to try new things in the Forex market and always be eager to learn more, because what works for you today might not work tomorrow. You want to aim to be a successful Forex trader in the long run and not just in the short run.
The problem is, we generally tend to be more impressed by complexity rather than simplicity. If a beginner reads up on a complicated trading strategy that they can hardly begin to understand, they immediately presume that the strategy in question will allow them to deduce significant profits, or at least more profits than other strategies that are less complicated. In reality, it doesn't matter how complex or sophisticated a particular strategy is or sounds; as long as you understand your trading strategy and it actually does work when you put it to use, then you should continue to use it no matter what. If your currency trading strategy doesn't work, then change parts of it and adapt it. Forex trading is ultimately all about trial-and-error learning, so don't lose your confidence if you make a bad start; you should just persevere until you actually find a strategy that does work. Unfortunately many beginners don't persevere and this is one of the main reasons why Forex traders fail.
Really, it's pointless using a strategy that you don't even understand, in the Forex market. In fact Forex traders, especially beginning ones, tend to fail when using more complex trading strategies. This is because not only do they struggle to understand them and get confused, but the more complex ones also tend to be less adaptable to the ever-changing market that is the currency market. The more simple Forex trading strategies on the other hand, work more effectively in general, as not only are they easier to understand and carry out, but they are also far easier to adapt and change. There's no real need to complicate things as Forex trading is difficult already and you will only be making things even more difficult by choosing a strategy that is difficult to understand, use and adapt.
Of course if you are a more experienced Forex trader, you will be able to develop your own trading strategy that might be very complex indeed, but until you are an experienced trader, you should stick with what works. The more experienced currency traders can get away with more complex trading strategies, since they can develop their own, meaning that they actually understand their the strategies that they use and know how to adapt them in the future. After all, your trading strategy should be yours and yours only, really. Of course, you will most likely want to use a well-known one to form a basis for your own strategy, but you shouldn't copy (or worse, buy) other Forex trading strategies ready-made because there just isn't any real logic to this at all.
Currency trading strategies tend to develop over time naturally, among traders and investors. As already mentioned, Forex trading is all about trial-and-error learning and if at first you don't succeed, try and try again. Also, even if you do eventually develop a profitable trading strategy, always be looking to test out other ones using demo accounts for example, because the conditions of the FX market are ever-changing and you need to be dynamic, if you want to be a profitable Forex trader. Unfortunately you will never know everything there is to know about Forex trading and even if you do start to profit, if you stand still you will start to go backwards.
In conclusion, your Forex trading strategy should be simple and not complex, because if it is simple you will stand more of a chance of understanding it. Simple currency trading strategies also tend to be easier to adapt to the ever-changing conditions of the market for currencies, allowing you to become a more dynamic Forex trader. Also lastly, regardless of whether you are making losses or deducing profits; always look to try new things in the Forex market and always be eager to learn more, because what works for you today might not work tomorrow. You want to aim to be a successful Forex trader in the long run and not just in the short run.
High Probability Forex Strategy - Trade Forex With This Simple Strategy
Forex trading strategies involve the combination of chart indicators as well as chart price patterns in order to derive forex entries and exists. There are also fx trading strategies based on fundamental factors, but all short term strategies must include some technical trading component. The below strategy uses simple moving averages to trigger entries (both long and short positions) as well as exit points. It can also be used to have continuous position in the market (to catch big moves.) This is a purely technical forex strategy which can be combined with your own judgment and fundamental factors to increase success.
Chart Time Frame:
This strategy is effective on a 30 minute or hourly chart. However the time frame can be changed to cater to your own trading style.
Chart Indicators needed:
9 SMA (on close)
100 SMA (on close)
Trade Entries:
New long entries - When the 9 SMA indicator line crosses above the 100 SMA
New short entries - When the 9 SMA indicator line crosses below the 100 SMA
Trade Exits: Close a trading position or reverse the position when the 9 SMA crosses back across the 100 SMA.
Before you begin your forex trading venture, it is important to learn the basics of how currency trading and forex works. Of course, encyclopedic knowledge could not be enough (and updated) so you really need help to get you through online trading for foreign exchange. Learning about the forex online trading can help one to become a successful foreign exchange trader.
Chart Time Frame:
This strategy is effective on a 30 minute or hourly chart. However the time frame can be changed to cater to your own trading style.
Chart Indicators needed:
9 SMA (on close)
100 SMA (on close)
Trade Entries:
New long entries - When the 9 SMA indicator line crosses above the 100 SMA
New short entries - When the 9 SMA indicator line crosses below the 100 SMA
Trade Exits: Close a trading position or reverse the position when the 9 SMA crosses back across the 100 SMA.
Before you begin your forex trading venture, it is important to learn the basics of how currency trading and forex works. Of course, encyclopedic knowledge could not be enough (and updated) so you really need help to get you through online trading for foreign exchange. Learning about the forex online trading can help one to become a successful foreign exchange trader.
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