Fair Value strategy made use of in various financial markets. In the forex market, the fair value of a currency is determined based on the economic situation in a country. In order to use this forex strategy, traders must have an understanding about a few basic related to the economy, especially the GDP growth of the two economies whose currencies they plan to buy and sell. Other aspects to be considered include the unemployment rate and the inflation data.
Having been with ForexMentor for many years I have a lot of respect for Shirley Hudson and Vic Noble. Shirley has never made any secret that she likes her job as a realtor and Vic is one of the nicest guys you could know. His mentoring programs and Coaches Corner have helped me and no doubt countless others tremendously over the years. HOWEVER! There is a shadier side to forexmentor and I was so discusted in their tactics recently that I decided to blacklist them from my vendor pool. Some guy called Lennox Chambers (developer of his ‘special’ black box… Read more »
Marc is a retail trader turned pro thanks to his tenacity, his determination and his commercialism. He started way back in 2002 & like everyone else, struggled for the first few years. A straight-talking guy who truly understands what it feels like to be a newbie trader; to think about giving up and then enjoy the buzz of real success, Marc is a trainer who has been where you are now and understands your pain and frustration. His approach to training is tried and tested – and it works.
When it comes to price patterns, the most important concepts include ones such as support and resistance. Put simply, these terms represent the tendency of a market to bounce back from previous lows and highs. Support is the market's tendency to rise from a previously established low. Resistance is the market's tendency to fall from a previously established high. This occurs because market participants tend to judge subsequent prices against recent highs and lows.
Risk Disclosure Statement: Trading currencies on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade currencies you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial advisor if you have any doubts as to whether currency trading is right for you. No representation or guarantee is offered or implied as to the trading results that may be attained by applying concepts presented herein. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader and Currex Investment Services Inc (d.b.a “Forexmentor”) and its principals, contractors and assigns will be held safe from prosecution in any form.
Backtesting is a kind of a strategy test performed on the past data. It can be either automated or manual. For automated backtesting, a special software should be coded. Automated testing is more precise but requires a fully mechanical trading system to test. Manual testing is slow and can be rather inaccurate, but requires no extra programming and can be done without any special preparation process. Any backtesting results should be taken with a grain of salt as the tested strategy might have been created to fit particular backetsting historical data.
I unfortunately purchased the London Close strategy which is the program that Shirley Hudson had “found”. I had a few successful trades, but found that it was not nearly as predictable or accurate as the marketing material would have you believe. One of the things that I discovered, is that they aggregate multiple trades in their spreadsheet, as though it was a single trade. For instance, Shirley might find that the criteria are met for one currency pair and place a trade which might result in a 10 pip loss. She will then enter a subsequent trade on the same… Read more »
Forex Mentor is an outrageous fraud. The company was founded by a former futures broker with a very shady past of selling get rich quick, Forex trading educational programs. After 5 separate CFTC reparations cases alleging financial fraud, and 3 NFA violations and fines totaling nearly $300,000, he finally left the futures brokerage business in 2013.
You can read more about technical indicators by checking out our education section or through the trading platforms we offer. The best forex trading strategies for beginners are the simple, well-established strategies that have worked for a huge list of successful forex traders already. Through trial and error you should be able to learn Forex trading strategies that best suit your own style. Go ahead and try out your strategies risk-free with our demo trading account.
This strategy leverages early market moves of certain highly liquid currency pairs. The GBPUSD and EURUSD currency pairs are some of the best currencies to trade using this particular strategy. After the 7am GMT candlestick closes, traders place two positions or two opposite pending orders. When one of them gets activated by price movements, the other position is automatically cancelled.
Highest profits are realized only when the best forex trading strategies are employed by the forex traders. There are many time tested forex strategies that can be used by serious traders. Whereas some of them are based on the effect of the current political and economic scenarios of a country, some others rely on charts and numbers that are based on past performances of the forex market. All the strategies that are explained briefly in this article have different levels of complexity. It is also important to note that whatever may be the strategy that the forex trader wants to apply, the best effects occur only when the trader has sufficient knowledge and experience in the field. This article aims to familiarize the readers with a few well-known forex trading strategies.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.