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Strategy Taught In Forex Trading Courses

PostDateIcon May 16th, 2009

Recently one of my reader sent an email to me. In the email he said that he used to attend a forex trading course that costs him more than $3000. In the seminar the speaker taught the students how to trade GBPJPY using MACD and Williams.

I am always skeptical whenever people tells me that using fixed indicators in their forex trading strategy will turn out to be profitable. I can simply perform a quantitative test to prove that using fixed indicators on currency pairs will not work over a period of time. This is because different currencies have different behaviour and this behaviour changes over time as market condition changes. So we cannot use the same indicators for a specific currency pairs for all seasons.

In my view trading strategy can be narrow down into 2 broad categories:
1) Trending following and 2) Reverting to the mean.

1) Trend following strategy means if the trend is up, you follow the direction and buy. If the trend is down, you follow the direction and sell. This is why most people say the trend is your friend. In this case, indicators used for this strategy will be MACD, Parabolic, Bollingerband etc.

Currency pairs that currently belong to this group are EURJPY, EURUSD, USDJPY, GBPUSD.

2) Reverting to the mean strategy means if the price goes up too high, it may be time to sell. Vice versa if the price goes down to much, it is time to buy. In this case indicators used will be Williams, Stochastic, Commodity Channel, RSI etc. If you have been trading long enough, you will know that the trend is NOT always your friend. The trend can be a trap many a times.

Currencies that used to belong to this group are AUDUSD, NZDUSD, USDCAD. But behaviour of these currencies have changed lately due to market’s wild move.

So those traders who had previously been successful in trading AUDUSD using stochastic will face serious damage in his trading lately.

To solve this problem I have developed a system that is flexible and adjust itself to market conditions. Quantitative tests are performed on a weekly rolling basis so as to capture up-to-date behaviours and patterns of the various currency pairs. Then using the information from the quantitative test to generate buy and sell signals.

I think this is a more realistic and practical way of trading. Most importantly, it works. If you would to view samples of past trades generated from this system, send an email to me at metal.commodity@tradingeducationprogram.org.

To find out more about our forex trading course, see here. Our course fee is a small fraction compared to those available in the market.

Brendan is the founder and CEO of TradingEducationProgram.org, a forex powerhouse online portal that provides premium forex trading tips and resources. It strives to empower people worldwide to improve their forex trading skills and help them path their way to financial freedom.

Article Source:http://www.articlesbase.com/currency-trading-articles/strategy-taught-in-forex-trading-courses-920614.html

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Why I like Robominer
In the Forex marketplace, almost every week we see the release of some new trading system or Expert Advisor (an EA is an automated forex trading robot). Some of them work while most of them don't. However there is one EA that has been constantly making profits over the last year, generating over 86,908.00 pips in profit, and generated a 314% return in just 12 months, according to company figures.

This system that only a few seem to know about is RoboMiner. The RoboMiner EA is a long term investment system that pumps daily small profits into your account, it always closes trades with a profit. That's right, you will never have any trades close with a loss.

The RoboMiner EA uses a proven grid trading system that is so safe, it's as if your money is in you IRA account. This system generates a minimum 6-10 % return monthly, with compounding that's 100% return a year.

Let's do the maths here. If you invest $2,000 today, in 9 years from now that will turn into $1,000,000 minimum. Where else can you find such a safe investment that will give you this kind of return?

Best of all you can download a free demo of this EA, test it for as long as you want and see for yourself how it performs.

So go ahead and try the RoboMiner EA today. Click here to download a FREE copy of RoboMiner. You will never have any trades close with a loss.
What Are The Best Forex Robots?
Watch out. The only thing that some "autopilot" forex software products will do for you is... analyze the market. Sure, that's great because when a computer does all the analytical work for you, you don't have to sit in front of a screen looking at charts and candlesticks for hours on end.

But a ROBOT program goes much further.

Forex robots will actually DO THE TRADING for you, as well as the analysis work. A well-written Expert Advisor (EA) will buy at the right time and sell at the right time. It's the ultimate in hands-free currency trading... as long as it's a well-programmed forex robot.

So what are the best forex trading robots available today? I've tried several but only identified one I am happy with at this point... RoboMiner. It primarily works with the AUD/NZD currency pair and is programmed to only trade when you will make a profit. It takes profit when a trade has reached a 1.5% profit.

Why I don't like these EA's

PipsMiner. I first used the wrong settings and as a result lost money. Then I corrected my mistake and entered their recommended settings but still lost money with PipsMiner SE version. Here endeth my very brief PipsMiner user review.

Forex Megadroid. I was running the default settings in demo mode and it didnt turn a profit for me, so I got a refund from ClickBank. That's the nice thing about buying through ClickBank. Although the site promises world class support, it fell far short of that in my experience.

ForexBling. Support was inadequate. I had several questions about setup, but they were answered in just a few words when my questions really needed more info. Even the brief answers did not address my actual questions in some cases.
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