If you have been involved in Forex trading then I’m sure you often want to know which forex pair and time frame is best to trade. Now you can get a definitive answer to that question with this forex trading tool.
It is not as simple as trading Euros against US dollars in a five minutes time frame or even British pounds against the US dollars on daily. It is simple enough that you will be able to figure it out though.
The market is always changing and even though GBP/USD might have been a trending currency at one time, it might be another pair today.
In order to solve the problem you must might need a special tool that will help you find the best trending pairs among all the Forex pairs that are available.
This special tool is a software than can scan thirty-four Forex pairs on all time frames from minute to monthly! This is going to be the way for you to get to pick the best trending pair and the time frame at a specific time.
You can read all the books you want on Forex but do you think this will dramatically improve your success rate? Even buying expensive software and spending many hours trying to learn more about Forex might not work.
Today you can learn about this easy to use and very power system that will work.
Here is an example:
Imagine if you traded in a system that makes 50% winning trades, but another 50% are losing trades and if you increase your odds of winning by only 20%, that would make 70% winning trades and 30% losing trades. Now how can you do that you might ask?
You just have to pick the best trending pair at the current time and simply follow the trend! Now here is a tool that will continuously scan the Forex market and be able to pick the most reliable trending pairs for you. It is that simple.
You will be able to take signals in the direction of a strong trend and reduce unnecessary losses and increase the odds of winning instead. It is important to know how well the market is trending so you can avoid very short-term trends.
Now you can stop hunting for every potential trade and instead pick only the best trending pairs and time frames. It is important that you don’t take trading signals in a choppy market unless you know what you are doing or you could lose.
The Secret the Pros Use to Trade
It is important to note that successful traders keep things simple. It is how the pros make their fortunes; by trading less and making more.
There are common mistakes that trades can make when drawing trend lines. This is one of the few easy techniques that can really work. Prices respect a trend line or break though it resulting in a massive move. It is a rewarding skill!
However, there can be too many false breakouts. Not all trend lines should be considered. It is important to be able to distinguish between a strong or a weak tread line.
With this sophisticated software, you will automatically be able to see only the strongest trend lines and be able to recognize the most reliable chart patterns being formed.
In fact, chart patterns such as “Triangles, Flags and Wedges” are price formations that will provide you with consistent profits.
Before the age of computers, the professionals had to analyze every single chart to search for chart patterns and it was very time consuming although worth it. Now you will be able to use powerful dedicated computers that will do the job for you.
Getting to Know the Reason for Your Losses
Has there been times when you were profitable in a trending market but then suddenly all the profit was taken back in a series of losses? Want to know the reason and how you can avoid this in the future?
There are some basic principles on how most Forex systems work. They are tuned to work in a specific market condition and often make money in a trending market. However they often lose money in a choppy market.
Of course this is not a problem as long as the market is trending and the system is making more money than it loses. Such a system could be profitable for several months but what happens if the market changes?
Finding a Well-Designed System that Works!
What you want is a well-designed system that starts with trend analysis so you can stay away from potentially losing trades. However, there are two problems of how a Forex system recognizes the trend.
- False “Strong Trend” Indication: this could be an explosive price movement that is usually the result of news release which makes it tempting for people to jump in and make a profit. It looks like a “strong trend”, but what usually happens next is a hard fall.
- Trend Reliability: most systems will use various indicators to determine the trend. However a problem could arise if you don’t know if the market is trending. This is not black and white. The right question to ask is how well is the market trending.
It is important to note that trends exist and they can be traded up and down for a profit. However, you have to focus only on the most reliable market trends. The solution is this software that will be able to find you the best trending currency pairs, the time frames and be able compute the trend reliability for each Forex chart. This can make your job easier to find ones that will give you a profit and not a loss!