Highly Effective Forex Trading System

A brief preview of an Extremely Effective and Simple
Forex Trading System

The full video course describes the system in detail.

WHAT YOU NEED TO GET STARTED

1. A computer, Internet connection,
2. A system to trade with such as my Pivot trading system.
3. A funded account at a forex market maker broker

You only need a few tools to locate profitable set-ups:

- Price
- Price Bars,
- MACD Divergence
- Pivot Point
- Breakout/test/violations
- Trendline breakout

That and of course your passion to succeed
is all it takes in this wonderful business
of Forex trading.

No other bells and whistles or toys are
required - contrary to what you may have
learned before.

The hardest part for you will be to
"unlearn" all the nonsense you've been
fed about trading prior to coming here.
(Just give your head a good shake;
maybe it will go away).

CHARTS

I use mainly daily, hourly, 15 minute,
and five minute charts. The daily chart
will help you define the overall trend
from a position trading point-of-view,
and the hourly chart will give you a
feel for the intraday trend.

The 15 minute chart is used for entry
and exit - with assistance from the five
minute chart, where price is moving
quickly, and you need to be closer to
the action. Please note that the five
minute is not to be used for scalping,
as there is a lot of noise there,
and you could easily get whipsawed.

Make sure you are using charts that
are generated from the same data source
that feeds the dealing engine, as is
the case with both platforms mentioned
above. That way, what you see is what
you get when you buy or sell. Some
charting packages do not accurately
reflect where price is at any given
moment in time.

PIVOT POINTS

My trading system is based on pivots.
Pivot points are targets, or mile markers,
used for assessing price movement and
determining direction.

If you're unfamiliar with pivot points
and how I use them, below is an overview.

Used by professional floor traders, pivot
trading is one of the oldest and most amazing
technical trading methods available.

Professional traders calculate pivot points
in preparation for each trading sessions.
The pivot lines system is an indispensable
guide for making profitable decisions.

For an active trader, the pivots can mean the
difference between winning and losing.

The Pivot techniques work well in markets with
a wide daily trading range, such as the Forex.
Pivot lines steers traders away from "no man's
land" and identifies "high activity" areas in
which the equity has a high probability of
reversal. These areas are important trading zone
watched daily by floor traders and computer
trading systems.

The levels for the trading ranges and pivots
are the support and resistance levels of the
market in the next time interval.

It is important to note that the predicted
levels only give the range in the next time
interval. They do not indicate when the levels
will be reached by the currency price action.

The pivot is a level at which the underlying
asset can be expected to change direction
and/or move rapidly away from.

My pivots program provides not only Pivot,
R1, R2, S1, and S2, but also the M1, M2, M3,
and M4 points as well. It is common to find
many traders calculating only the Pivot, R1,
R2, S1, and S2 levels. In the Forex market,
however, you will find my additional points
of support and resistance to be very significant
indeed.

The Forexmentor video course shows you how
to calculate the Pivot points using our
proprietary Pivot Calculator.

After you have calculated the pivot numbers
for the day, place horizontal lines on
your 15 minute and 1 hour charts at the
pivot numbers for the day, or at least as
many lines as your chart has room for.

These pivot points will guide your trading
throughout the day.

INDICATORS

I really only espouse one - MACD
(for divergence only).

MACD Divergence is covered extensively
in my course and my trading examples

MACD is my favorite indicator, and that
would be my choice. The nine and 18
exponential moving averages are okay
too to give you some sense of price
direction, but I am not a believer in
using moving averages for this market
- so am not too thrilled about their
application and use.

Go ahead and plot MACD on the charts
you are working with.

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