Welcome traders and guests.
A year ago I start this thread to post trades of a system I developed for trading in forex. You can check for yourself. I've posted almost all of my trades here. This is a history of how my trading diary grew to provide a service which produces signals for trading. This thread will give you many answers to all your questions about signals and alerts I post here . Sure, I don’t post all details of my calls here, You’ll need to subscribe for that.
I will try to do my best to explain in detail some of the best ways to use my alerts. First of all, let's get acquainted!
My name is Nick, I am trader, businessman and as told my family, friends and clients - just a good fellow. I have traded my method for many years already and know what I do, how to do it, when and why - that’s why you will find my service painless and easy to use. After years of exhaustive research of systems used to trade the currency markets (Forex), I developed a very successful, low risk system of my own based on those used by institutional traders (not retail).
The system had to be one that didn't require constant monitoring of the markets, nor the use of any special indicators and would consistently provide low risk, high reward setups.
Thorough testing of this system provided enough encouragement to implement it using a live account. The live trading of this system began in May 2008. The Results section of this site, viewed by clicking the RESULTS tab at the top of this page, shows the accuracy of this system. Last year, members of this service enjoyed an impressive 80-90% win rate. There are no indicators involved in any setup of my method, no robots or EAs do this, but human experience and visual price scanning and analyzing is used to achieve this great hit rate. I spend many hours each day to find really worthwhile entries which I send to members. This is one of the reasons I've made this a paid service. Price is low compared to other services - it will not make me rich. Some of this money is used for charity.
One of other reasons was that :
* not many people have time to learn forex,
* not all who want to trade can learn even the basics because of mental limitations.
* not many people can manage risk properly.
* and many other reasons.
As you can see we are not talking about selling a system. Everything you need to know you can find for free and learn by yourself - there are a lots of endless resources all over Internet. But if you want trade by using something you can “set and forget” NOW - just let me know, read all the questions and answers here. Don't hesitate to ask me any questions related to this service.
As all traders know, managing an open trade is of primary importance in it's success. With this in mind, the instant messenger Skype is used for any questions the member may encounter.
Let’s get back to signals and what they are. Traders following the signals generated by this system only need to follow the basic instructions provided, which are:
- entry price, (around 10 pips and all profits will calculate base on this entry area)
- suggested stop loss price,
- take profit levels. (TP1 and TP2)
Due to differences in risk management, results can vary a lot, as each trader manages his/her position according to their own rules or principles. In case you are not trader or a beginner I advise you to use one of plans shown below. You must have in mind that even if you follow the plans below to the letter, your results can be similar, but almost never the same as other traders doing the same. This is because of differences in commission, price ranges, spreads, rollovers, etc.
You can find all you needed on my website. There you will find history of alerts proved by my thread and fellow members of forexfactory. Member area for subscribed members, where I set all details about each signal. And many other things. For any question you can find on Skype.
Risk and Reward Suggested :
This plan use 2-4% risk on each calls and i suggest to set monthly goal for your trades for example 4% and start closing your positions on TP1 until achieving to your monthly goal then on next trades try to hold your position and BE on TP1 for TP2 or even more.
Forex Idea & Analysis
Please, remember, this is not black box or robot trading, all trades are based on manual market analysis in technicals and fundamentals.
Forex Trading - Risk Disclaimer
Before you make any investment or trading decisions, you should carefully inform yourself about the opportunities and risk. Apart from the financial aspects, this might also include the fiscal and legal ones. Please particularly note that the past performance of a trading system or trading strategy is not indicative of future results. See also CFTC RULE 4.41
Forex trading offers large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex market. Don't trade with money you can't afford to lose. No single system is perfect. If you do not understand the risks involved in trading foreign exchange, do not trade it. If you need clarification you can contact me.
CFTC RULE 4.41
THE RISK OF LOSS IN TRADING FOREIGN EXCHANGE (FOREX) CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FOREX TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.