Monday, April 27, 2009

FapTurbo M1 Blew Up My Account


Greetings FapTurbo owners or curious visitors. I figure it’s about time for a performance update on my FapTurbo trading accounts. As the title hints at this post won’t bring good news. Yes, FapTurbo “long term strategy” running on the M1 chart blew up two of my accounts. I had FapTurbo v16 running in long term strategy mode on one account and in both long term and scalper mode on another. Unfortunately FapTurbo running in long term strategy mode opened several short positions in the 1.25xx region.

Here are the specific losing trades taken from my hybrid account (FapTurbo long term + scalper):

143640645 2009.03.02 01:04 sell 9.36 eurusdm 1.2571 1.3073 1.2431 2009.03.16 12:21 1.3069 0.00 0.00 -131.02 -4 661.28
143647418 2009.03.02 02:30 sell 9.21 eurusdm 1.2584 1.3086 1.2444 2009.03.18 12:26 1.3083 0.00 0.00 -134.14 -4 595.79
143649944 2009.03.02 03:19 sell 9.17 eurusdm 1.2576 1.3078 1.2436 2009.03.16 12:22 1.3073 0.00 0.00 -128.38 -4 557.49
143654555 2009.03.02 04:22 sell 9.30 eurusdm 1.2555 1.3057 1.2415 2009.03.16 12:12 1.3057 0.00 0.00 -130.22 -4 668.60
143661666 2009.03.02 06:50 sell 8.70 eurusdm 1.2589 1.3091 1.2449 2009.03.18 12:30 1.3091 0.00 0.00 -126.66 -4 367.40

On this account I started with $5000, the account balance peaked at $16000 and in the end crashed down to $200

And here are the losing trades taken on my FapTurbo long term strategy only account:

143640643 2009.03.02 01:04 sell 4.98 eurusdm 1.2571 1.3073 1.2431 2009.03.16 12:20 1.3065 0.00 0.00 -69.72 -2 460.12
143647419 2009.03.02 02:30 sell 4.90 eurusdm 1.2584 1.3086 1.2444 2009.03.18 12:26 1.3078 0.00 0.00 -71.34 -2 420.60
143649945 2009.03.02 03:19 sell 4.88 eurusdm 1.2576 1.3078 1.2436 2009.03.16 12:21 1.3069 0.00 0.00 -68.36 -2 405.84
143654556 2009.03.02 04:22 sell 4.95 eurusdm 1.2555 1.3057 1.2415 2009.03.16 12:12 1.3057 0.00 0.00 -69.28 -2 484.90
143661667 2009.03.02 06:50 sell 4.63 eurusdm 1.2589 1.3091 1.2449 2009.03.18 12:30 1.3089 0.00 0.00 -67.46 -2 315.00

On this account I started with $5000, the account peaked  at around $12000 and then crashed to $110

As you can see on both accounts FapTurbo went short at the exact same price (as expected). But the forex gods conspired against my poor accounts and the euro went into bullish mode almost right after those trades were opened. I believe the cause was fundamental in scope having to do with the Federal Reserve announcing that it would implement a policy of quantitative easing (aka printing money - resulting in inflation). As a result the Euro surged and my trades got a royal beatdown by the market. On both accounts I’ve had FapTurbo running with the default settings which meant the stop loss was set at 500 pips and this stop loss was easily hit as the Euro continued to climb.

Why did this happen?

Well, I believe my accounts got destroyed due to the following reasons:

a) I was running an older version of FapTurbo (v16) which I believe has a money management bug. I’ve set FapTurbo to risk 1.0% of my account but as you can see by the position sizes there is no way those positions represent only 1.0% risk. At the time I setup this account the fapturbo crew allowed only 1 max demo account per customer for newer version (beyond v16) so in order for me to test FapTurbo in all 3 possible combinations I had to stick with this older version which still worked on multiple demo accounts.  Later on though the FapTurbo crew rescinded this policy and allowed unlimited demo accounts but I neglected to update it on this account thinking it should still be “good enough” - for sure I did not expect it to blow up the account. Would this loss still have occurred had I been running the latest version? I don’t know, but something insdie me tells me that it most likely would’ve still occurred, but probably the loss wouldn’t have been so great because newer FapTurbo versions have a more “accurate” money management formula (what determines the lot size)

b) The second reason is that I was running with 5 maximum open positions which essentially means my risk level is multiplied by 5! Combine this with the overly excessive lot size caused by the money management bug and you have a recipe for possible disaster. In retrospect I should’ve just set it to max 1 position, but as they say hindsight is 20/20.

Hopefully you can learn from my experience and not repeat the same mistakes. First of all make sure you’re always using the most up-to-date version of FapTurbo. Second, if you’re a conservative trader make sure you do not go beyond 1 to 2  maximum open position, and also lower the stop loss to something less than 500 pips depending on your risk tolerance. For this I would suggest  you do some backtesting. Or if you’re not all that skilled with running a backtest with MetaTrader 4 your best bet is to visit the FapTurbo Forum and borrow someone else’s settings. Here is the forum link:

http://www.forexautopilotforum.com

Now that I can have an unlimited number of demo accounts I’m thinking of restarting my testing but this time using the latest version of FapTurbo (I believe v37 and 45pro at the time of this post). However I still prefer using FapTurbo in SCALPER MODE ONLY. It is by far safer! The only challenge with running FapTurbo in scalper mode is hunting down a good broker that has tight spreads on the pairs it uses (eur/gbp, eur/chf, usd/cad, gbp/chf).

I’m running FapTurbo on a IBFX account but I would not recommend this broker as the spread frequently goes above the max limit during the time FapTurbo is set to trade. Whether this is purely due IBFX’s liquidity providers or a deliberate ploy to thwart FapTurbo traders I do not know, and probably have no way of knowing. So with that in mind your best bet is to avoid IBFX when using FapTurbo. I’m not going to get into which is the best broker to use as then this post will drag on page after page. So what I suggest you do is once again visit the Forex Autopilot Forum where you will find plenty of info about what brokers other FapTurbo traders are having success with.

In conclusion, I still recommend FapTurbo overall. I still think it is a pretty good EA, and you can make money with it, but you have to do your homework first. Personally I recommend using it in scalper mode only, but others may disagree with this opinion. And if you’re going to be running it in scalper mode it is PARAMOUNT that you find a broker with low and STABLE spreads on the scalper pairs (like I mentioned above).

That about does it for this post folks. To visit the FapTurbo homepage see this link. To visit the FapTurbo Forum see this link (I HIGHLY recommend this as one good place to start “doing your FapTurbo homework”)

I wish you all the best of luck with your FapTurbo trading - or with trading in general.

Oh, and one more thing, I’ll try to post an update on my FapTurbo account running in scalper mode only. I’ll probably have this update up on the blog sometime during this week. To give you a hint, this account is in a healthy state.

Cheers,

Alan
http://alansforexblog.com

ew Dollar Yen Relationship Revealed

I have to admit, I love trading Forex. It’s one of the most exciting and most profitable markets in the world.

In today’s short educational trading video on the dollar/yen (usd/jpy), I explain step-by-step how to analyze the dollar and its relationship to the Yen. I will also show you exactly what I think is happening right now in this relationship. Watch the video and see specific target zones where I think this cross is headed in the future.

Watch it with our compliments. You do not have to register to watch the video.

http://www.ino.com/info/328/CD3336/&dp=0&1=0&campaignid=3

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub

Free Elliott Wave Online Tutorial

Greetings Investor/Trader!

“Successful market timing depends upon learning the patterns of crowd behavior. By anticipating the crowd, you can avoid becoming a part of it.”

I pulled this quote directly from the opening paragraphs of the free Elliott Wave Online Tutorial. It’s critical to your understanding of how markets really work.

Now some might say, “What’s wrong with following the crowd? I’m just following the easy money, right?” The problem with this logic is that most investors follow the crowd (or herd) all the way up the mountain … then right off the cliff.

Look at today’s situation: How many people you know got out of the stock market before the October 2007 top? Heck, how many you know cut losses and cashed out even six months after the top?

If you’re like most people, your answer ranges from “zero” to “very few.”

Being a successful investor over the long term means you must always strive to be part of that “very few.”

Famed market analyst Robert Prechter, the leading practitioner of the Elliott wave method of market analysis, once said, “Missing a market move may be a shame, but getting caught on the wrong side of one means you lose money. People who have gone through the experience know there’s a big difference.”

To be a successful individual investor, you must understand what it means to take risks when the probabilities are behind you and shun risk when they’re not.

Robert Prechter’s method of analysis, the Elliott Wave Principle, is designed to help him and his subscribers do just that. In fact, just this week, a MarketWatch.com columnist wrote this about Prechter’s performance:

“Over the past 12 months the Elliott Wave Financial Forecaster is up 22.8% by Hulbert Financial Digest count, vs. negative 43.32% for the dividend-reinvested Dow Jones Wilshire 5000.

“And so terrible has the damage to the stock market been that the HFD now shows EWFF ahead over the past 10 years, with a annualized gain of 1.7% vs. negative 2.55% annualized for the total return DJ-W.”

Buy and hold is dead. Trading isn’t any easier. Having a big-picture outlook doesn’t mean you must “set it and forget it,” as the late-night infomercial guy says. And it certainly doesn’t mean you must be in and out of the markets every day. It simply means you can see the forest for the trees.

You can go long when the markets are behind you, short if you have the guts, and stay out completely when the risk is too high. Simply put, adopting an independent, unbiased method is the very best way to ensure you don’t get caught up in the investment herd.

Elliott wave analysis is not for everyone. It’s highly technical. And it presents probabilities, not certainties (there’s no such thing as a black box trading system). The most successful investors and analysts – the guys who are still around after 30 years like Prechter – are able to assign probabilities and assess risk; and they act only when probabilities are high and risk is not.

I encourage you to learn more about the method that has kept Robert Prechter out of the herd and in the game for more than three decades. His company, Elliott Wave International, has an extremely useful Elliott Wave Tutorial for free online. It’s broken up into 10 lessons across 50 pages, so it’s easy to read and review at your leisure.

Check it out at the link below, give yourself some time to digest it, and decide for yourself if Elliott is a method you should add to your investment arsenal.

Separate your investments from the herd; get started with the free Elliott Wave Tutorial today

Saturday, April 25, 2009

Forex Scalping Cheat Sheets

Last week I sent over one of the most groundbreaking trading reports I have come across in over 7 years. It was called the 60:30:10 Principal, and it got so much buzz,it was downloaded over 21500 times the very first day it was released!

Today, the author of that report and highly respected trader and educator, Jason Fielder, has raised the bar even higher. He has just released his own personal forex scalping "Cheat Sheets" that reveal several legitimate "loop holes" in the markets.

Forex Scalping Cheat Sheets

Forex trading can be done short term or long term. Most of the day traders are short term traders who open positions each day and close those positions before the close of that day. Some traders use fundamental analysis as a trading strategy. They are usually long term traders opening a trade for a few weeks or a few months.

Scalping is one of the methods to trade forex on a short term basis. It is a trading style where small price gaps created by bid/ask spreads are exploited. It normally involves opening or closing a position within a few minutes or even second.

Forex Scalping Cheat Sheets

Scalping means making 2-5 pips per trade; it is based on the fact that most of the time the markets are consolidating. In other words most of the time there are no significant movement in the markets.

When the market is consolidating and ranging best suits the scalpers. For example between the close of the US market and the open of the European market, forex markets tend to be ranging for hours. This is the best time for scalpers. 

Forex Scalping Cheat Sheets

However, the more you trade, the higher your trading cost becomes. For example if the broker is giving a 4 pips spread to you than this 4 pip is your trading cost per trade. You will have to make more than 4 pips per trade to start making profits. 

You cannot become a successful scalper without understanding technical analysis well. You should have clear concept of over-under brought, support and resistance levels, trendlines, trading channels etc before trading any position. 

Most of the forex brokers dont like scalpers. Many will try to ban you if you are found scalping, since the brokers are most of the time trading against you, a successful scalper can take profits away from the brokers.

Forex Scalping Cheat Sheets

Since scalping means a few pips per trade, in order to make 20-50 pips per day, you will have to trade many times. Dont forget these 20-50 pips are after you have subtracted the trading cost.

Since scalpers are looking for capitalizing on very small gains like a few pips per trade, the profits obtained per trade are small. So scalping requires you to use high leverage.

Leverage is dangerous. It is a double edged sword that cuts both ways. Leverage helps you if market favors you but it will destroy you if the market does not favor you. So beware of using too much leverage while trading.

Jason literally "cracks the code" with his brilliant approach to scalping, and he is actually giving away 4 different systems on how he does it...But only for a few days.

Forex Scalping Cheat Sheets

As a full time trader myself, just about every new trading system, report, or high end strategy comes across my desk...on a pretty much daily basis. So you can imagine how unusual it is for one to actually stand out. Jason's scalping "Cheat Sheets" are without a doubt a very notable exception.

The cheat sheets will reveal when the best times to scalp are (they are not when you think) and the times to avoid. Plus you will discover how to break the market down into several “micro-markets” and trade each one accordingly. Go grab your copy, they are short, to the point, and they will give your trading an instant bump.

Forex Scalping Cheat Sheets

Forex Scalping

I'm sure that most people have heard of Jason Fielder by now...This guy's a "rare breed" when it comes to Forex trading. When I say that he lives and breathes Forex, I mean it...Over the past 3 weeks I've talked with Jason 4 times... each of these 4 times we had to cut our conversation short because of his trading.

Forex Scalping Cheat Sheets

I'm not kidding! This guy's obsessed with Forex... has been for many years now. Anyway... amongst the various methods that Jason uses for trading Forex are what he calls "The Top Scalpers". These are 5 "in-house" methods developed by Jason and used by him EVERY SINGLE DAY!

Forex Scalping Cheat Sheets

They're truly unique and he's agreed to release them (complimentary) for a short time...Get them at no cost here (manual plus step-by-step video tutorials). Not only are these 5 methods exclusive (developed by Jason from his years of constant testing and trading) but they're true PIP PULLING machines. A few highlights:

- Each of the methods UNDISPUTABLY breaks every traditional rule
- The secret of "when's the best time to scalp" (99% get it wrong)
- The "micro market" strategy exposed
- The secret to stacking the odds in your favor, with astounding results
- Full manual explaining how to implement each method
- Step-by-step video tutorials 

...and much more. This is one of those rare times that a professional trader exposes his scalping methods to a select few traders. This is also only going to be available for a very short period of time. Get your copy now before the page is pulled down. Get The 5 Best Forex Scalping Methods (Complimentary): 

Forex Scalping Cheat Sheets

That's right... Jason Fielder, one of today's leading Forex trading authorities has just released his TOP 5 scalping methods... the ones he uses for his own day-to-day trading. These methods are responsible for 10's of thousands of pips in profit and, just for today, they're being released to a few very lucky traders. You can get them here - completely complimentary:

Forex Scalping Cheat Sheets

You don't just get a top-notch manual, where Jason reveals how to implement these unique, previously unreleased scalping methods but you also get a set of impressive video tutorials. A real "MUST have" for every trader who wants to exploit the Forex market's potential with methods that NO-ONE else has. I especially loved the "micro-market" approach... this is as unique as it gets, no doubt about it. I just love seeing original stuff... it really is the difference between crap and a truly powerful solution. Get Jason's 5 scalping methods here, now:

Forex Scalping Cheat Sheets

As soon as you read this special report and watch the videos you'll understand how it's the simple, UNDISCOVERED things that are the difference between 5% gains per month and 100% gains per month! Well... let me rephrase that... they appear simple now, but trust me, researching and coming up with them wasn't a simple process! You can see exactly what I mean and download your complimentary copy. You can download Jason's 5 scalpers immediately from here:

Forex Scalping Cheat Sheets

If you're trading the Forex market there are a set of universal rules that you simply must know to survive. I have in my possession a little known "cheat sheet" that could propel your trading into a new dimension. This "Cheat Sheet" was put together by master trader Jason Fielder. In this exclusive report, you will learn:

- 5 different "insider" strategies he uses to scalp the markets that break all the "traditional" trading rules
- When the best times to scalp are (it's NOT when you think) and the times to avoid
- How to break the market down into several "micro-markets" and trade each one accordingly
- Crucial insight on the "Trading Sharks" who prey on your stops, and profit from your losses (and find out how to stop them in their tracks)

This complementary report, that is Jason Fielder's personal "cheat sheet" took hours of observation to put together. It contains his five secret strategies for scalping the Forex market:

Strategy #1: Off-Hours Scalping - "High Water Mark" 
Strategy #2: Off-Hours Scalping - "Dead-Time Range" 
Strategy #3: Pre-News Scalping
Strategy #4: Breakout Scalping
Strategy #5: PREVIOUS BAR Breakout 

Seemingly this report will be sold in the future so get it before you have to pay for it here:

Forex Scalping Cheat Sheets

Three Swing Trading Rules

Two important trading skills that professional traders can take years to acquire are the focus of a webinar coming your way Wednesday. They are:

1. Mastery of a range of incisive trading strategies
2. The ability to apply the correct strategy to current market conditions

Successful traders aren't born with these skills. They develop them the same way pro golfers learn to select the proper club based on course conditions...through experience. MarketGauge's Wednesday, April 22 webinar will teach you what many years of profitable trading experience has taught its professional traders...

... how to match your trading strategy to market conditions. Precisely. This free presentation is based on one very important premise: "You can swing trade successfully in volatile markets if you follow the rules of the professional trader." Introducing MarketGauge's no-cost webinar:

"The 3 Rules of Successful Swing Trading"

Whether you think the market's recent rally is a bear market bounce, a real bottom, or a range-bound rally, this webinar will introduce you to the strategies you need to make the most of what's going to happen next. To start, you have to know what the market's doing. That's where Rule # 1 of "The 3 Rules of Successful Swing Trading" comes in.

Rule 1 - Identify & Trade in the Direction of the Market Phase.("The rule that keeps the wind at your back...")

When you know whether the market is cycling through an up, down or transitional stage, selecting the correct trading strategy is easy! Wednesday's webinar will also go in depth into Rules #2 and 3:

- Catching Multi-Dimensional Momentum ("The rule that hits home runs...")
- Timing: Entries & Exits ("The right place / right time rule...")

These are powerful, strategy-based and proven principles that every successful swing trader must know. Benefit from the experience of traders who have successfully put them to work in their own trading for years. Attend Wednesday at no cost. Find Out More About The 3 Rules Here:

The 3 Rules of Successful Swing Trading

Wednesday's webinar will show you how to profit from current and future market conditions. I urge you to attend. It's a chance to shorten your trading learning curve that you should not miss! Trade Smart. Not Often.

Forex News Trading

One of the most popular methods is to trade forex news releases. This type of strategy is intriguing to many people because of the instant gratification. You lay on the trade minutes before the release, your heart pumps when the clock ticks within 60 seconds of the number coming out, and when it does, you feel either an instant sense of elation, the trading high, or an instant sense of frustration. 

Forex news trading is great for traders who like a lot of action within a very short period of time. Trading forex news is based on the idea that when an economic number deviates significantly from the consensus forecast, there is usually a knee-jerk reaction accompanied by decent follow-through. However, there are many different ways to trade forex news releases, and if done incorrectly, it can lead to more losers than winners.

The first strategy is to place a trade before the number is released, the second is to take the trade only after the forex news release hits the wires, and the third is to do a combination of both. One of the biggest advantages of proactive trading is the risk-to-reward ratio, which is usually very good because the strategy entails entering into a position 15 to 20 minutes before the number is released. 

The reason we do not wait until 5 minutes before the release is because spreads usually widen, and some brokers will make execution difficult. Once the economic number is out, the spike that is driven by the data creates an opportunity where profits can be taken on a portion of a position or the entire position. If your view on the economic data proves to be wrong, the stop would be hit almost immediately; in other words, you are either right or out.

Before a big news is coming, we can buy and sell some currencies pairs at the same time, same lots, set stop loss prices for them. After the forex news is released, especially, for the big one, both sides of the buy order and sell order will jump significantly. No matter which order is a winner, just let it go. And the loser will hit the stop loss, just let it be.

The winner's gain minus the loser's loss, it is your forex news trading profit. For example, Non Farm Payrolls/ Employment Report- The NFP is the most influential forex news release of every month. It's released on the first Friday of the month at 8:30 AM EST. Don't forget, set 30 pips stop loss level for them. Wait 2 minutes only, the forex news is announced, it is a big one!

Then the sell order jumps over 100 pips and the buy order drops like a brick. The brick hits the stop loss and the pain is over. Your total gain could be 100-30=70 pips. Quick and easy, cool enough!

Forex Confidante Inner Circle

Listen, I don't want you to miss your chance on this once in a lifetime event, so I'm just gonna tell you where to go and that you should be there 10 minutes early waiting. This is a high level very exclusive workshop being held in June by Tom Strigano an Ex-Chief Bank Trader of 25 years who now makes a fortune trading against the banks like us..

But knowing what he knows it's almost unfair. There's a high fever pitch with hundreds of comments on the blog, video and written testimonials flying in it's crazy. If you've been following my emails this past week you'll already know who he is, why you should be going, and that this is probably going to sell out very fast.

50 spots only for this limited one time event, and 8 were already promised to some of his very first students. It's supposed to be expensive but at any rate,this will be a bargain, I mean people have done better and made bigger gains with the tools he's given away then most of the junk that's sold out there. Tom tells me there's over 7300 people now on the VIP notification list, and only 42 spots, so more then likely it will sell out quickly. 

This is what Tom Strigano says: "Wow, after a lot of technical difficulties on our end things are finally running smooth and there are only 31 spots are still available. I understand this is a huge investment for some so...

I now included my actual cell phone number (Yes, Phone #)under the video if you want to reach me personally to ask any specific questions you may have.(You won't see that anywhere else, from these fake wannabe forex gurus ready to burn you on every turn.)

The price includes hotel for the weekend 3 nights, Friday - Sunday, and Breakfast, Lunch, on Saturday and Sunday... This won't last long, so I just want to make sure that you have your chance. Money isn't everything...But helping out others to really start seeing some serious gains, is what really has me pumped, I mean really excited...

Not too mention, since I've left the bank a few years back, I've been trading from home and sure the money has been great, but there's nothing like the feeling I've had recently receiving the stories of frustrated people who were on the verge of giving up...And then they found my guide, and I helped over the phone and email, and was able to turn everything around for these people You are probably one of them...

Will You Offer This Workshop Again? The answer is probably not. After teaching this class to 50 people and seeing the direct result of teaching them everything I know from 25 years experience in the market as a chief bank trader....

I'll be most likely looking for clients I can partner with exclusively on a fee royalty basis....(And of course, People in this class will be the first ones I look at if I decide to partner with clients.) So therefore, I probably won't have much time to teach it again.

Not to mention these are proprietary systems I've developed that you will have to sign a waiver stating they are only for your own use as a trader or broker...(Don't want everyone knowing these battle tested systems)

Can I Bring My Wife, Husband, Partner? I would rather that you didn't but the room is too small and I want everyone there to be able to get my full undivided attention. However if you want to bring your partner with you down to West Palm Beach they can have a great weekend doing other stuff, like going to the beach.

What Will I Hand You At The Workshop? Basically you'll be getting the keys to the kingdom...No joke...You'll leave trading like a PRO no matter what level you are at now.. Here's JUST A FEW: 

* Uncover the psychology of trading and instantly get the edge in the marketplace (...like you've suddenly gained 25+ years experience in the market)
* How to understand and boost your self-esteem to become more powerful in the marketplace and eliminate rookie mistakes (... instantly tap into a 'financial confidence boost' whenever you need it)
* The key to breaking free of the shackles holding you back right now...(and once you understand this you can apply it to any area of your life...)
* Why 99% of traders get too "horny" for profits and how -- by using my powerful money management techniques you'll never be caught with your pants down...
* The ridiculously simple 3 step system to reprogramming your mind for trading excellence. 

How Much Is This Going To Cost? First, there's no doubt in my mind that my consulting services are worth big cash to banks and brokers out there that can make their clients killer gains. In fact this same info a little skimmed down, I taught to two other bank traders who easily paid me $50,000 a piece for just some of the training at this workshop.

Look at this way: At this pace I'm looking to bring in $2.1 million trading from home this year, so grabbing all my techniques for $50,000 is really a bargain. Think about it I'm just an ordinary guy who was lucky enough to trade with the best and get out early and start trading from home using my own systems.

And pulling in major gains and banking a few hundred thousand a month, while the rest of the economy is in total collapse.But I'm not gonna sell it to big businesses for big bucks...even though I could. Frankly, It's us against them, I think most of them are Big Idiots with Big Egos. So instead I want to help the little guy against these monster banks.

So there's no way I can charge $50,000 per person either. Truth is, I'm not totally sure what I'm gonna charge yet but I'm figuring it will be somewhere between 3 and 5 times the amount of money I make a day. Still a good chunk of change, but an obvious bargain for taking all my 25 years of learned knowledge in one fail swoop. I think most people will agree with me.

Would you believe I've already had people email with their credit cards saying "I don't care what it cost just get me in!" So it sounds like a sell-out is going to happen a hurry." The workshop will cost something like $9,997. If you have so much money then go and enjoy the workshop with your partner. I won't. I will use this money to trade my account with a forex robot and multiply it 10 times in a few months.

Forex Trend System

Want a winning forex system? There are many forex systems. Everyday you will come across a different forex system. Some work, some don't. But you never know until you try a forex system in live trading. As a trader, you must be willing to admit that trading is difficult. Trading is ruthless. It’s a tough business. You must have the competitive edge to survive and succeed in the forex market.

For years, the so-called trading experts have been spreading the most destructive myth - that is,to succeed in trading you must forecast or predict the future.Nothing could be further from the truth. The fact is that trying to predict future price movements will certainly lead to unnecessary frustration and failure. To be successful in forex trading, you only need to do two things: Identify the trend & join the trend with the precise timing. Always remember trend is your friend.

Forex Trend System

You don't need complicated and confusing fundamental or technical analysis to trade successfully. Forex systems that are based on logical, scientifically sound, and well-tested forex trading concepts have been performing extremely well and will continue to do so for many years to come. To discover how to identify and jump in the trend with laser-like accuracy, and get a free special trading report exposing one of the best trading system ever, head over to:

Forex Trend System

Just recently, a professional trader debunked all the myths and revealed an easy-to-use and consistently profitable forex system that helps you do exactly those two things. Imagine having a trading system that pulls massive profits for you every single day .... Now, a veteran trader reveals his exact forex system for trading any market successfully. Learn how to use his forex system and get the same amazing results that he achieved:

Forex Trend System

* Why you don't need to predict anything to make money on the markets !
* How you can identify each day's hottest trades and exploit them !
* How to take advantage of big trends and ride them until the end !
* How to make more than 600 pips a month spending as little as 2 minutes a day!

What would you do with an extra $5000, $7,000 or even $10,000 or more a month? Bet you could think of a few things, right? Well, master trader John Chen has released a forex system that will allow you to do just that,consistently, and with little risk. Profitable Trend Forex is a sensational, powerful new trading system that traders just like us are using every day to make a killing in the market, without being glued to our monitors. 

Forex Trend System

It can be used in both bull or bear markets, and is so simple-yet-elegant that even the greenest trader can implement it and begin profiting from day one! And John puts his money where his mouth is... Try the system for a full 8 weeks - paper trade it, or go live... if it's not everything it's promised to be, return it for a 100% refund, no questions asked. And the price? Man, it's so screaming low you'll think John's blown his wheels. All the details are on his site so get over there right now.

Forex Trend System

In fact, I can't believe he hasn't raised it yet! But that's definitely going to change...So do yourself a favor, and get over there right now and secure yourself a place in this powerful system. You can shower me with thanks later! See, Jason's a Master Forex Trader, and he's one of the few people whose opinions and advice I even listen to anymore, so when he gets vocal, my ears perk up! Seems he's reached his limit with all the lies that's being fed to the small traders in our business, and he's decided to do something about it. And after reviewing what he's put together for us to that end, I gotta tell you...The "master" scammers are gonna be Pissed. He is totally blowing the curtains back, and revealing their secrets to us, no holds barred. 

Forex Trend System

Jason has put together a Trading system and full-blown plan of attack so simple yet elegant, that you'd have to be in a coma not to make money with it. With just a minimum effort, his system can turn your dreams of huge wealth to reality. It's that powerful. Jason reveals everything he personally uses to make a consistent killing every day of the week. And he does it practically on autopilot. You're about to discover:

-- Powerful Pip Pulling Timing secrets...
-- Laser targeted setup secrets...
-- How to spot and Focus on the best trades...
-- The Real secrets to using stops for your protection...
-- How to go both ways effectively - Bull or Bear, don't matter...
-- How to put theory to bed. Theories are great, but not with REAL money...

And much, much, more. Way too much to get into here. And you'll learn how to do it coolly, in absolute comfort, without sitting glued to a screen gobbling aspirin and pepto-bismol with every blip in the market. This powerful system is so user-friendly, it is practically set-and-forget. Spot your trades, set 'em up, and let it roll. It's that automatic. All you have to do is read, implement, and profit. And enjoy the whining of the fat-cats as they wail about how you're destroying them by exploiting all their secrets!

Forex Triad

Jason Fielder Spills It All... By now you've probably heard about Jason Fielder's 60:30:10 report, and his underground trading "cheat sheet".What you might not know is that 42,327 traders downloaded these two reports in just over six days. There is a very good reason for this, Jason Fielder has long been known inside the "trading inner circle" as a master trader. Ask him anything you want...

I could tell you pages of reasons why Jason is a very special trader. But why not ask him yourself! You can't have over 42,000 people download valuable information without a few questions. Here's what they come up with. Jason and his partner Anthony Trister have decided to hold 2 live "tell-all" webinars before their in-boxes explode! It's all happening next Tuesday, April the 28th, but you must register today to stand a chance of being part of the webinar! Here's is how you do it:

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

But wait...Here is where it gets interesting. As soon as you register, you will receive an e-mail that will give you information on how to get a "full scholarship" with Jason Fielder. They promised me that this webinar will pull out all the stops to answer all those questions you may have. Here's some of the things you're going to learn:

-You'll discover how long it takes most traders to get rolling with there trading system, (it's a lot faster that you think), and how many they are releasing (it is a limited number).
-You'll see it live, in action, and hear about all it's phenomenal and truly unique trading benefits.
-You'll also find out when it will be available and for how long (it is a very limited release.) Plus and a whole lot more!

Jason has been kicking around for a longtime, and I think he is someone you should listen to. This it is for one day only...Ok... over the past 10 days or so, I've sent you some very unique Forex trading methods and lessons, compliments of Jason Fielder. You know by now (and so do 42,327 other traders!) what Jason is all about... but, most importantly, you can see that he actually lives Forex trading and doesn't just talk about it.

No way around it... the only way to learn things (no matter what subject) is by having someone who's a professional - not just in teaching but in implementing. Jason's amongst the very few that can take you from "zero to hero" in no time and you'll soon understand why. So... thousands of questions have been asked about Forex Triad over the past 10 days: 

What is it?
When will it be released?
What are its capabilities?
How many copies will be released?
How quickly can you learn to implement the systems?
How accurate are they?
Etc., etc.

Well, Jason's decided to answer all these questions and a lot more in a live webinar. It'll take place on April the 28th but you'll have to sign up ASAP because there aren't many places. You can it here:

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

I almost forgot... in the live webinar, you won't just be able to understand in fine detail what the Triad is all about... how it's the only product that'll truly make you a star FX trader...But...You'll also be able to see the system being used live... you'll be able to accurately see how good it is and why it's as close as you can get to the "holy grail". I think, though, that most importantly...you'll finally understand the difference in a Forex system that's been designed by a leading professional.

On April the 28th, the Forex industry will change and I have to say quite a few people will be shocked by what they'll see. You can sign up for the webinar here (do so ASAP - seats are restricted):

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

Over the past few days, many traders have been lucky enough to get some insight and learning on what Forex trading is all about...Jason Fielder is not just a great Forex trader, he's also a great educator and this fact was proven by his private "in-house" trading material I've been sending you. Up to now, OVER 40,000 traders have downloaded Jason's top notch trading methods... FORTY THOUSAND!

The questions have been rolling in to Jason's in-box with unprecedented speed... people want to know more about his groundbreaking methods. BUT, mostly...all these traders want to know what the TRIAD Formula is all about. Well, Jason and Anthony have decided to answer every single one of your questions in a LIVE webinar. The webinar is a "restricted places" webinar and will take place next Tuesday, April the 28th. You can access it here:

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

But it doesn't end there... those who join the live webinar, won't just have the chance to get much more information about Triad But...They Will See It Live... IN ACTION! On top of all the Triad questions that'll be answered in the webinar:

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

This is rare chance - something that comes along just once in a very long while. I say this because I know Jason and what he's capable of. This guy's the real deal when it comes to trading Forex.Forty Two Thousand Three Hundred And Twenty Seven (42,327). That is the number of traders who have downloaded Jason Fielder's recent "game changing" reports... in the last 6 1/2 days.

Jason and his partner Anthony Trister have been bombarded with so many questions (as you can imagine) about their system they have decided to hold 2 live "tell-all" webinars before their in-boxes explode! It's all happening next Tuesday April the 28th!

(Live At 1 PM EST)
Forex Triad Webinar 1

(Live At 8 PM EST)
Forex Triad Webinar 2

Plus as soon as you register, you will receive an email that will tell you how to enter the "Full Scholarship Giveaway!" Jason and Anthony are going all out, and totally pulling back the curtains on Triad! You'll see it live, in action, and hear about all it's phenomenal and truly unique trading benefits. You'll discover how long it takes most traders to get rolling with it, (it's a lot faster that you think!), and how many they are releasing (it is a limited number). You'll also find out when it will be available, and for how long (it is a very limited release.) Plus and a whole lot more!

The feedback on Jason's truly groundbreaking reports, and system itself have been some of the strongest and most positive I have ever seen... And I'm not really not all that surprised. Jason has been around a long time, and his trading systems plainly put, are rock solid. 42,327 is an astoundingly large number of VERY interested traders. If you're anything like most of the traders I've heard from who've seen the 60:30:10 Principal, or grabbed his scalping "Cheat Sheets", your probably pretty darn curious to know a whole lot more about the Triad system. Get excited!! But don't miss your chance - they are doing this one day only!

How To Make A Profitable Forex Trading Plan?

There is no magic formula that ensures profit on any type of investment. The forex market is no exception to this, but there are some steps you can take when devising your own personal investing plan that will not only make profit a more likely result, but will insulate you somewhat from disaster.

Forex Trading Plan 

Select Your Term: There are three basic time frames within the forex market dealing with the length of time a position in a certain currency is held. They are long term, medium term, and short term. Each has its advantages and disadvantages. The short term position holder, sometimes known as a scalper, will be making rapid fire trades often exchanging currencies back and forth within a single day. The long term trader will hold on to his currency for months or even years. The medium term trader usually holds his positions for a few days or a week. The advantage of the medium term is that it requires the least amount of capital to realize profit. Leverage is only needed to boost that profit, whereas in both long and short term trading, it is needed to both protect the investment, and insure any chance of profit. Although medium term is recommended for the beginning investor, and involves less risk, you need to identify which is right for your personal plan, and stick to it. A plan that tries to use all three at once will most likely lead to confusion.

Forex Trading Plan 

Learn to Use Technical Analysis: The forex market lends itself very well to statistical analysis. Trend following is an example of a type of analysis that can guide the investor in making profitable decisions. Technical analysis of the market includes monitoring price movement as well as a large number of indicators. There are programs available where this large amount of data can be crunched in any way that fits your own individual plan and your own needs. You are going to need to find the right way to access and organize the data required for the execution of your own individual investing strategy.

Forex Trading Plan 

Learn to Perfectly Time Your Trade: One of the features of the forex market is the ability of the investor to insulate himself from drastic market swings. This is partly because of the 24 hour nature of the market. With the exception of weekends, there is a forex market operating somewhere day and night. A good trading plan should include both "stop loss" and "take profit" orders. These are simply instructions to change your currency position when either your profit or your loss reaches a certain point. The stop loss order is more easily understood. This is simply bailing out before things get too bad. The take profit approach usually meets with more resistance, and it is true such an order might prevent you from making even more profit should a volatile change keep propelling the value upward. Volatile is volatile, however, and what goes up fast may come down faster. As you can not monitor your account twenty four hours a day, you want to know that if your profit point is reached while you are soundly sleeping, at least your expected level of profit will be realized.

Forex Trading Plan 

One of the biggest advantages of the internet age regarding forex trading is the ability to freely use demo accounts - which are basically virtual forex games. These programs give you a chance to invest virtual money and see how well you do. Once your personal trading plan is formulated, execute it using a demo account. By doing this you will get a chance to see how it works, iron out any bugs, and fine tune your entries and exits, before you risk a single penny. To learn an amazing breakthrough system that can skyrocket your trading profits, go here:

Forex Trading Plan

Pips A Day Forex Trading System

days back, I had written a post about Millionaire Traders: Ordinary people who made fortunes trading forex. I talked about Hoosain Harneker: The 10 pips a day trader. He just makes 10 pips daily and has made a fortune trading forex over the years. Now you can also practice making 10 pips daily with this simple forex trading system. First practice how to use these indicators on your demo account. Once you get the feel of it and start making 10 pips with each trade than you can switch over to live trading.

Here’s the trading setup, entry rules, stop loss rules, and exit rules of this system. I truly believe it can potentially generate much more than 10 pips a day…but I’m sure like me, you’re probably sick of those unbelievable claims from the self-proclaimed forex ‘gurus’… You know, promises of 1000 pips a day… trillions of dollars overnight… OK, enough of my rants. Let’s get started right away:

Timeframe: 1-hour.
In this system, we use 3 indicators:
1. 5-period Exponential Moving Average (EMA 5) applied to the Close.
2. 12-period Exponential Moving Average (EMA 12) applied to the Close.
3. 21-period RSI (RSI 21)

Entry Rules for Long Trades:
It’s simple. We enter a long trade when EMA 5 crosses EMA 12 to the upside… 
AND our RSI 21 > 50.

Entry Rules for Short Trades:
Enter short when EMA 5 crosses EMA 12 to the downside.
AND RSI 21 < style="line-height: 1.6em; ">Stop loss = 20 – 30 pips… depending on the volatility of the currency pair. For more volatile pair, like GBP/USD, stop loss = 30 . For less volatile pair, like EUR/USD, use stop loss of 20 pips.

Timeframe: 1-hour
Exit Rules for Long Trades:
Exit the trade when EMA 5 crosses back below EMA 12
Or when RSI 21 < style="line-height: 1.6em; ">Or when price stalls at major resistance, trendline, pivot points, Fibonacci projection target.
Or when bearish engulfing patterns or inverted hammer patterns form.

Exit Rules for Short Trades:
Exit our short trade when EMA 5 crosses above EMA 12
OR RSI 21 > 50

The 6 Advantages Forex Trading Has Over Other Investments

There are many different advantages to trading forex instead of futures or stocks, such as:

1. Lower Margin Just like futures and stock speculation, a forex trader has the ability to control a large amount of the currency basically by putting up a small amount of margin. However, the margin requirements that are needed for trading futures are usually around 5% of the full value of the holding, or 50% of the total value of the stocks, the margin requirements for forex is about 1%. For example, margin required to trade foreign exchange is $1000 for every $100,000. What this means is that trading forex, a currency trader's money can play with 5-times as much value of product as a futures trader's, or 50 times more than a stock trader's. When you are trading on margin, this can be a very profitable way to create an investment strategy, but it's important that you take the time to understand the risks that are involved as well. You should make sure that you fully understand how your margin account is going to work. You will want to be sure that you read the margin agreement between you and your clearing firm. You will also want to talk to your account representative if you have any questions.

The positions that you have in your account could be partially or completely liquidated on the chance that the available margin in your account falls below a predetermined amount. You may not actually get a margin call before your positions are liquidated. Because of this, you should monitor your margin balance on a regular basis and utilize stop-loss orders on every open position to limit downside risk.

2. No Commission and No Exchange Fees When you trade in futures, you have to pay exchange and brokerage fees. Trading forex has the advantage of being commission free. This is far better for you. Currency trading is a worldwide inter-bank market that lets buyers to be matched with sellers in an instant.

Even though you do not have to pay a commission charge to a broker to match the buyer up with the seller, the spread is usually larger than it is when you are trading futures. For example, if you were trading a Japanese Yen/US Dollar pair, forex trade would have about a 3 point spread (worth $30). Trading a JY futures trade would most likely have a spread of 1 point (worth $10) but you would also be charged the broker's commission on top of that. This price could be as low as $10 in-and-out for self-directed online trading, or as high as $50 for full-service trading. It is however, all inclusive pricing though. You are going to have to compare both online forex and your specific futures commission charge to see which commission is the greater one. 3. Limited Risk and Guaranteed Stops When you are trading futures, your risk can be unlimited. For example, if you thought that the prices for Live Cattle were going to continue their upward trend in December 2003, just before the discovery of Mad Cow Disease found in US cattle. The price for it after that fell dramatically, which moved the limit down several days in a row. You would not have been able to leave your position and this could have wiped out the entire equity in your account as a result. As the price just kept on falling, you would have been obligated to find even more money to make up the deficit in your account.

4. Rollover of Positions When futures contracts expire, you have to plan ahead if you are going to rollover your trades. Forex positions expire every two days and you need to rollover each trade just so that you can stay in your position.

5. 24-Hour Marketplace With futures, you are generally limited to trading only during the few hours that each market is open in any one day. If a major news story breaks out when the markets are closed, you will not have a way of getting out of it until the market reopens, which could be many hours away. Forex, on the other hand, is a 24/5 market. The day begins in New York, and follows the sun around the globe through Europe, Asia, Australia and back to the US again. You can trade any time you like Monday-Friday.

6. Free market place Foreign exchange is perhaps the largest market in the world with an average daily volume of US$1.4 trillion. That is 46 times as large as all the futures markets put together! With the huge number of people trading forex around the globe, it is very hard for even governments to control the price of their own currency. 

BIG PLAYERS SEE ONLY BIG NUMBERS

I am typing this from my pc. It a bit of a mess now, the new house still needs a little work and I am not feeling well lately. Maybe its the change in climate. 

This week I am going to talk about numbers only. Forex is after all based on numbers. Example, I have a long position on GBPUSD @ 1.4700 with a profit of 320 pips at the moment and still holding. 

What I am going to say is big players only see big number. The do not see the last 2 digit. The last 2 digit is for scalpers. Big players only see the 1st 3 or 4 digit only. So if a bank wants to buy or hedge a currency they will give an instruction to buy at 1.47. Thats it. Simple yet people fails to see it.

So what happens at 1.47? The price will bounce of or hover around it but things arent always what they appear to be. What happen is price will have a range between 1.46 - 1.48. That is almost 200 pips wide range. Imagine what happen to your 50 or 100 pip SL?? Now you know why people lose money even though they have the right direction. 

These big players have big money they dont mind to stand few hundreds negative pips coz in the end they will profit big time. What they do is they will have a standing order to trade at certain level. Because the total amount of order, the market cannot fill the order in 1 transaction and so price will hover or bounce of a certain level. This is where double top or bottom appear. Behind it is the action of filling orders by these big players. 

Example EJ currently have a top of 1.34 and a bottom of 1.30. Big players are playing the game here. At the moment EJ is climbing and there is a big possibility that it will reach 1.34 again. I have a standing order to buy EJ at 1.30. If it hits there is a very big chance for 400 pips gain. Only time will tell.

Volume Surges as All Eyes Turn to Forex

Everyone has heard the cliche that currency markets are the most viable because there’s no such thing as a bear market; a decline in one currency must necessarily be offset by a rise in at least one other currency. This truism has taken on a new significance in the context of the credit crisis, where sell-offs in virtually every other asset class has sent investors scrambling in search of yield. Despite even the current rally in stocks and commodities, forex volume is surging.

Aggregate forex data is essentially nonexistent, and also unreliable since its based on surveys rather than actual numbers. But anecdotal evidence from the major players in forex suggests that interest has exploded. “Volumes on dbFX, the online retail trading platform from Deutsche Bank, increased 37% in the first quarter of 2009 from the same period a year earlier. ….particularly impressive given sharp volume gains in October, at the height of market fears, when retail investor interest spiked due to intensified volatility.”

Ironically, the increase in retail forex trading has coincided with a relative decline in institutional trading, as banks collectively make an effort to get back to their roots of providing financial services and move away from position-taking. “The crisis has also led many houses to disable algorithmic trading models, which had been big volume drivers.”

Japanese retirees were probably the first, or at least the most famous, mainstream group to trade in the currency markets. They famously used the carry trade to bet against the Yen. When this strategy imploded, it was left to investors from other countries to pick up the slack. “Contracts for Difference (CFD) providers [in Australia] are noticing the shift. Many newcomers to CFDs, they say, are overlooking margin trading over shares for the prospect of trading currencies instead.”

Equity traders are also starting to pay attention to forex. The Dollar’s recent volatility has effected significant changes in corporate profitability. For companies that are export-oriented and/or are net buyers of commodities, the strong Dollar has provided a windfall. One analyst added, “Travel and leisure companies will also benefit from the weak dollar as this means that travel is now more affordable for foreigners.” If and when the Dollar recovers, companies that do business overseas are poised to reap the benefit.

For novice forex traders, the most important decision involves choosing a trading approach; “The type of forex trader you are will determine how frequently you trade, the type of currency pairs you choose to trade, the charts you use, and even the strategies that you employ to make money on the markets.” Generally speaking, day traders churn their portfolios daily, and hence stick to the most volatile currency pairs. Swing traders typically hold positions from one day to several weeks, and rely on a combination of technical and fundamental analysis.

Position traders, in contrast, don’t worry about “short-term market movements like the day trader or swing trader, but about long-term trends spanning weeks or months.” These types of traders, as well as those who aren’t ready to take the plunge directly into forex, should also consider currency ETFs, currency options, and currency CDs. As one instructor summarized, “The upside to these is that you can get started in currencies right through the same stock brokerage account that you would buy IBM, GE or Google.”