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Best forex software for consistent profits

Each day a trader should go through a simple process to ensure that they are prepared for the markets, both mentally and professionally.

Below is a breakdown of the typical daily routine of a professional trader:

  • Do not trade if you have not had enough sleep!
  • Do not trade if you are stressed or worried about anything!
  • Be selective, cut your losses, and let your profits run!
  • Market Analysis & Preparation
  • Review your previous day trades
  • Identify today’s events calendar (Economic Data, Speakers, Central Banks etc). Also review yesterday’s events calendar and consider the event risk scheduled for later in the week
  • Review the Asian session (if you are based in Europe) and the Asian and European sessions (if you are based in America)
  • Update any political events globally that will impact on asset prices

Update your charts across all assets and use these in addition to the fundamental themes in the markets to formulate your daily strategies for the various assets that you are trading

  • Set support & resistance lines: Key price levels, pivot points, Fibonacci
  • Momentum: RSI, MACD, Stochastic
  • Volatility: ATR, Bollinger Bands
  • Participation: Volume
  • Trends: Channels, Flags, Pennants, Trend lines, Moving Averages
  • Sentiment: Where did the market close yesterday? At the highs/lows/mid-range?

  • Remain positive
  • Look to run winning trades and cut losing trades. A decent ratio would be 2:1. So essentially your profit target should be 2* your stop loss minimum
  • Evaluate your trading statistics
  • Never average into a losing trade
  • Avoid trading the first 15 minutes of the us cash open 2.30pm-2.45pm GMT
  • Avoid have a trade on during the us cash open 2.30pm GMT
  • Never reverse position … so never cut a long and immediately go short. this is a recipe for massive losses over time
  • Do not commit more than 5% of your capital to any one trade. Use Money management tools that will help you to manage your finances properly!
  • If you are tired stop trading

Note that the most volatile times of the day are as follows:

European Open: 8am-10.30am GMT

US Cash Open: 2.30pm-4.30pm GMT

These are the periods where the markets tend to move the most and therefore present most trading opportunities from a technical perspective. Beyond this it is a case of focusing in on event risk such as economic data, central bank situations, political scenarios and general real-time news flows.

  • Forecast potential volatility for the day across various assets. Identify those where trading opportunities may exist
  • Decide on your directional bias for the trading day. Let’s take the S&P 500. Do you think the index will rise or fall today based on your overall analysis? If you think the market will go up your directional bias for the trading day is long. Clearly if you feel the market will go down your bias is a short entry.
  • Analyse the charts on the assets being traded to determine entry and exit points. A common approach would be to determine the following (using support & resistance levels, pivot points, Fibonacci, ATR)
  1. Entry Level
  2. Stop Loss
  3. Profit Target 1
  4. Profit Target 2
  • Place your orders

Sit back and run the trade if it materialises

Never alter the strategy mid trade unless something massively fundamental comes down the news wires. Allow the trade to run mechanically even if you end up stopped out. Never watch the charts or your ladder and allow the movement of these to trigger adjustments to the original strategy.

Let technology - through automated trading - to assist you!

Initially the best practice would be to simulate your strategies to gauge performance. Once a strategy has been positive P&L wise for at least 6 straight months it can be implemented with real funds. By the same approach, a review should be made if you sustain losses on consecutive months. Three consecutive months of losses is a very decent gauge of when to review and adjust.

In general, day trading is not an easy art to master. It requires experience, skill, discipline and humility to be successful over the longer term.

However, following the correct rules can be the major factor determining long term success.

Best forex software for consistent profits

You can become a profitable Forex trader fast.

I mean consistent Forex profits which can:

    Provide for you and your family

Replace a full time salary

  • Give you the free time to be home 7 days a week
  • I know this to be true because Forex profits did all of the above for me.

    The Next 7 Things Will Change Your Life

    Literally there are only 7 things I did and after you go through this, from here on out, I don't want you to do anything else apart from these 7 things.

    The big mistake you can make is, trying loads of stuff.

    Learn what works. Start doing it. And repeat.

    #1 - Successful Forex Traders Find Big Profit Trades In Less Than 60 Minutes (On Any Timeframe, Time Of Day & On Any Financial Instrument)

    So before you go into video 2, realize that once you can find the trades, you make big profits. All of the trades in the video were found in less than 1 hour and I can do it quicker with each passing day.

    #2 - Successful Forex Traders Keep Emotions Out Of Their Trading

    Thousands of dollars are lost and trading accounts are emptied. Your emotions are powerful and tend to make you do the wrong thing.

    So now you know emotions literally take care of 95% of Forex traders, you want to be part of the 5% who are making consistent Forex profits. Through the first 2 videos you have already seen how being able to find big trades every day (in less than 60 minutes) and controlling your emotions will have you earning big profits fast.

    Imagine making good profits based on 60 minutes work each day. It wouldn't take long to build your account and then start living off your Forex profits.

    Wave bye to 40 hour work weeks! (Some have told me 80 hours)

    #3 - Successful Forex Traders Use The Right Tools

    Before you go to the video I want to make clear I am not talking about indicators. If you have ANY indicators on your charts, you probably won't last long term. Keep your charts clean because you don't need them.

    Now you know, you have no excuse for not have a trading journal in place. A good one which saves you loads of time, money & stress.

    #4 Successful Forex Traders Use Candles To Minimize Risk & Maximize Reward

    There are probably hundreds of different candles. You only need to find two or three in the right place to minimize risk & maximize reward.

    #5 Successful Forex Traders Review Consistently & Accurately

    1-4 produce big profits. But what you will find is 3 & 5 ensure the profits keep rolling in. Let's move on to a very key lesson which I touched on in the beginning.

    #6 Successful Forex Traders Never Change

    You may have never heard this before, perhaps even the opposite. And the reason you probably heard something along the lines of be ready to change in different conditions, is because most teach based on things which won't last long term. If you remember the statement I made earlier about Forex indicators.

    " I f you have ANY indicators on your charts, you probably won't last long term " What I shared in video 1 is not about change. It works on

      Any market conditions

    Any account balance

    I can say this confidently because it has worked for thousands of years and will keep working in the future.

    One more video to go and this is the icing on the cake.

    #7 Successful Forex Traders Win Big In Extreme Conditions

    This is the 7 step blueprint to your Consistent Forex success and your fast track escape route out of a full time job.

    After watching the video you know I showed you the All In One Forex Course which will help you implement all 7 without any hiccups.

    You have the blueprint, buy the course & Let me explain everything for you so you don't make any mistakes.

    The All In One Forex Course Is A 7 Part Course

    Find out:

      Part 1 - How To Find Profitable Trades In Less Than 60 Minutes (The law behind price movement)

    Part 2 - How To Keep Emotions Out Of Trading & Emotions To Avoid

    Part 3 - How To Run A Successful Forex Trading Account

    Part 4 - The 2/3 Candles You Use To Minimize Risk & Maximize Reward

    Part 5 - How To Keep Your Forex Account Rolling In Profits

    Part 6 - How To Profit In Forex Without Changing Who You Are

  • Part 7 - How To Trade In Extreme Conditions (What To Trade, How To Trade & When To Trade)
  • If you are serious about making Forex profits a consistent stream of income Click Here To Buy The All In One Forex Course

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