Diversify Your Portfolio + Across Niches

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Is Pips Geek really one of the best Metatrader4 EA for Forex like it is claimed by its sellers on its website? Upon further testing of this Expert Advisor, I have found that it is truly programmed with a professional trading system that has had a record of making profits every year since it was first created.

How often have you had what you thought was the perfect set up for a trade, you entered, and nothing happened? Maybe it was 9PM on the east coast and your thinking was that you could make your 10 pips for the evening and be in bed by 11PM; $100, $1000, etc. richer. But at 10:30PM nothing had happened other than price had gone up and down around your entry no more than two or three pips. You decide to wait till 11:00 and then exit wherever the price was at that moment, profit or loss. Sometimes 15 minutes goes by before there is a single pip move on the chart. You would go get a cup of coffee but you are sure as soon as you leave the currency pair will start moving in your direction.

When you trade Forex are you constantly asking, ‘If I place my trade here where do I place my stop and how far will this trade go?” Those two things are on many trader’s minds that come to learn my trading system. And looking at trading forums and reading many blogs and comments on blogs, the same seems to be true.

How often can you think of times where if you had done something differently the outcome would have been better? It’s easy to look back in hindsight. In sports it’s called Monday morning quarterbacking. So how often have you looked back at your trading method and analyzed what you were doing in an attempt to make your system better?

When you trade Forex do you have a best trade that you are looking for, one that repeats itself enough that you can make solid money on a consistent basis or do you just trade anything that comes along? A good baseball player knows when he goes to the plate to hit what pitch he wants to swing at. A good hitter waits for that pitch. Same for a basketball player. Good basketball players know what shots they have the best chance of making.

Whatever, so you can see yourself in the above price patterns that they are an important signal that shows the underlying market sentiment or what you call psychology. Now a Doji is an important candlestick pattern that shows hesitation in the market. When you see a Doji on the key support or resistance, you should take it as a sign of weakness. When you spot a Doji on the support, don’t buy and when you spot a Doji on the resistance, don’t sell. But when the Doji appear hugging the Bollinger Bands, it is a sign to go along with the pattern by buying or selling.

In my Forex trading journey I took a Forex course from one of the well-known Forex training companies. My thinking might be like yours, to educate myself in trading. The problem was that the course cost over $5000. ‘No problem,’ I was told by one of the company’s representatives, ‘We have a proprietary trading system that will make you money while you learn. By the end of the course you will have made it all back.’

Profitable trading in the forex market comes from a mixture of aspects. The forex trader will need to have confidence in his skills: both in their information of the greatest way the marketplace operates, and of their talent at establishing and realising buying and selling strategies.

Now Stop Loss, Trailing Stops and Profit Limit orders are exit orders. Now a Stop Loss is a pending order that can be attached to an open order whether it is a market order or an entry order. A stop loss will simply close the open position when the loss reaches a certain predetermined limit. A stop loss order is indeed an incredibly useful tool that is used to limit catastrophic loss.

Well the obvious answer to that question is because they are all losing money at the moment. For all practical purposes, capitalism in America is on hold for the time being. Stocks are unstable for the most part and bonds may not be trusted. Real estate is falling and there is no bottom at this point that anyone can say for certainty. Banks are holding on to their money unwilling to loan it to those seeking new ventures.

FREE tips and advice on Financial software for Forex trading. Using the right information, you are on your way to create great wealth with Forex trading!