Wednesday, February 16, 2011

Forex Trading Review

Hi There!
I have set up this website to help forex traders (or prospective forex traders) choose the best strategies to make consistent profits by having a look through our forex trading reviews.
If you are like me you already trade or want to trade forex because you know there is good money to be made. The problem is that there are so many strategies available on the internet, and I reckon probably only 10% of them are truly profitable. The rest are scams.
Maybe you have been burnt by "too good to be true" fairytale strategies. I know I have!
I buy 4-5 new forex trading strategies every month, but will only review the "real" ones on this site. So if it is reviewed here, you know you can get it if it suits your trading style.
Suits your trading style? What am I talking about?
I would generally break down forex strategies into 3 main categories:
  1. Automatic hands-off trading strategies, mostly through using Metatrader expert advisors.
  2. Manual strategies with help from a specific set of indicators.
  3. Purely price driven manual strategies (no indicators).
Now each of these categories can then be broken down into:
  • Daily Trading - making one or more trades at the end of each day, based on daily candles.
  • Day Trading - shorter term trading, with trades usually lasting 1 hour to 1 day.
  • Scalping - very short term trades, with trades lasting from a couple of minutes to 2 hours.
There are more categories like swing trading for instance, but these are the ones I use.
Here is an excellent Daily strategy taking only a few minutes a day, one that I am currently trading (the website looks ugly, but the strategy guide is excellent!):

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