Forex Trading Winners

Author Archives: Forex Trading Winners

What Is Forex Legend?

Probably heard by now the latest Buzz about Forex Legend. What is it?  and is worth all the hype?  Lets review

So several weeks ago Forex Legend deposited $2000 in 50 different forex trading accounts, and recorded the results live. What where the results?

The Only Way To Separate Fact From Fiction Is With
REAL Live Proof!
The beauty of this whole competition is that you are able to follow along with the results live as if it were your own trading account. Verified by myfxbook.com,  you will see forex robots earn up to %560 in less than three months. To see results

Have you paid for $100 forex robots before?  or heard of lousy result from these types of robots?  They are mostly true, these lower cost robots will work for several months then results will drop off dramatically or quit all together. The forex robots that Forex Legend are worth quite a bit more than $100,  but the results speak for themselves.

If you are looking for the next great investing opportunity, this is it.  Compare it to buying Appple in the 80′s or Google at IPO,  you do not want to miss this opportunity.

Even if your not interested in buying a forex robot, you can learn some free forex trading information  by going to check out some of the results from Forex Legend, what have you got lose? Check it out here

P.S. You will be glad you did,  I know I am :-)

Leo Trader Pro Neural-Net Robot- Will It Profit?

Leo Trader Pro is a new EA based on neural network technology.

Neural network simulation of very little brain, which guaranteed to be very good at recognising patterns. To do this, a neural network be trained using historical data. & exercise is a crucial factor for a NN to work well. Choosing the right data is very important, & to keep the net-mounted (trained with some frequency).

For more information on Leo Trader Pro, Click Here!

This is why most of the School say they’re not usually based on NN.

Leo Trader Pro is a particular EA that what you received isn’t the actual EA, but a replicator of the main net programmes. This is really the only reliable way to trade without using a NN professional.

Development team gave access to a live account trading EA before it was released to the public & the performances are good if compared with the relatively low draw down.

I also personally know the developers & Im in contact with them.

These are the reasons that made me decide to promote Leo Trader Pro & the results so far are very good.

I wrote a few posts about Leo Trader Pro crescendos in my blog & here are links to some of the most important:

I had access to the live account a few days earlier the public, so you probably already done your analysis. Some of you’re already excited about it & some are already saying that it’s fraud.

As always, the truth is in between. Here Ill try to evaluate the technical commercial stuff & not marketing one.

There are a few things to say before a final decision:

Actually I still don’t know if Leo Trader is really based on neural network technology or not. But there are a few things that make me think that it can in this way the important thing is that it probably wont be sold as an individual EA, but itll be a commercial copier EA. So EA & instal in our terminals will connect to a server & orders to open close transactions from a central server to receive. As I wrote, the main problem with NN is to keep them installed, which means keeping them always trained with the latest data. This is something that can even happen on a daily basis. This is easily done if you train the main Centra NN & the other takes the signals from it. The only real drawbacks of this approach is that you can’t backtest the performance of the EA.
Trade is certainly over-mortgaged. But it is perfectly normal. In your real beings (I hope), you wont be using that leverage. Youd probably using a lever that’s between one five & one ten of 1 used in the live account if you want. This means that the average performance will also be scaled, instead of 100% per month, you can expect a 10-20% per month (which is a good performance). Theresa general rule that works most of the time: If you want to make 100% a month, you’ll probably be to risk losing 100% in a month.
I use an indicator that I adapted to my analysis shows that the historic balance & equity line of an account. I applied it to LeoTrader Live account & heres the result. As you can see there have been periods in DD & again are quite normal. BUT the major DDS is also due to over-exploit. If you normalise for more real life many sizes I must say that the floating DD may be very low.
Said that, here is calculate the historical balance sheet (red line) & equity (blue line) in the live account:

For more information on Leo Trader Pro, Click Here!

I remember you that the record is made of closed orders, while the equity is the value of the account as the value of outstanding orders.

So whats my opinion of Leo Trader EA. I really think that EA is a good, definitely worth a try. This is with 2 pairs (EURUSD & GBPUSD) & I like several pairs. If they’re really using NN which are often trained & equipped than this is certainly an automatic strategy to have in our portfolio.

Id like to say 1 more thing. It’s important to distinguish between marketing & trade stuff. EAS need good marketing as well as bad EAS. Unfortunately many times they use the same marketing techniques & so it difficult to distinguish between good EAS & spam. I know well personally I had the same problem with my Crescendo. Try to make you understand me & Crescendo are different from most of the EBS & EAS developer out there. This is something that you just can demonstrate over time. Theres no other way. Since selling something is, & art that had nothing to do with trade & or write a good trading robot. So what I am saying is don’t be fooled by marketing the good & bad. Dont think big numbers, but also dont think fake everything that has an upgrade just 1 example

This is the first time, Ill email you suggest buying an EA. I coded a bonus indicator Crescendinos who’ll choose to follow me. I’ll not do it often I promise! & you can be sure that Ill do only the things I really like. Im building a page with a list review of other EAs that I like & use. Goal to find the right companions for Crescendo that’ll let us build a performing & secure portfolio of automated strategies.

Postscript: I can not make any evaluation of strategy as being based on NN means that’s mainly based on pattern recognition. The stop-loss orders is more than three hundred pips away. So keep this in mind when choosing the lot size.

Forex Scalping

What is Forex Scalping?

Forex scalping is a popular forex trading strategy where the trader makes several small trades in the course of a trading day. Compare it to the game of baseball, where a team is said to play ‘short ball’ making hustles and stealing bases, doing many small plays instead of going for the home run. Forex scalping is like that. Scalping is a quick, adrenaline filled way to trade and not for the faint of heart. It does allow for some quick profits. Though many scalpers will disagree, this method of trading has a higher risk-reward ratio than more conservative trading. To counter this, most traders use tight stop loss limits to prevent big losses. The benefits of scalping is quick profits and peace of mind when the day is over as there will be no outstanding trades. The drawback is the difficulty involved and the cost of scalping which can be high with a broker with high commission.

What Time Frame Is Used in Forex Scalping?

Scalpers need all the up to the second information they can get and therefor use very short time frames on their charts such as ticks, 1, 3 and 5 minutes. The purpose is to spot easy and quick entry and exit points. Scalpers thrive on high liquidity and do not look for long term patterns. This is why the short time frame is preferred.

How Much Is Invested In Each Trade?

Since scalpers deal in very small pip ranges, they need to increase the amount invested in each trade. Compare it like this: 150 pips x $2/pip = $300 profit (two hours to complete this transaction) or
5 pips x $60/pip = $300 profit (5 minutes to complete this transaction). As you can see, scalping is high risk – high reward. Combine a scalping strategy with high leverage and you have a potent combination for boom or bust.

What Are The Benefits of Forex Scalping?

Since scalpers are willing to take relatively bigger risks on each trade, they can also make more money. It happens much more often that the market moves 5 pips than 150 pips, which means scalpers can take home profits several times a day if done right. Scalpers usually go for profits anywhere between 2-15 pips, which combined with leverage can make for very healthy profits.

What Are The Negatives of Forex Scalping?

Scalping carries more risk than conservative trading as the amount invested pr. pip is greater. This means that it is crucial with proper stop loss management. As all traders know, that is easier said than done. Scalping is definitely not for the timid. Also, forex brokers do not particularly like scalping because it costs the money to execute a trade. Some brokers counter this with high commissions that make it difficult to be profitable.

THE LONDON FOREX RUSH SYSTEM – FACTS AND REVIEW

The London Forex Rush System is a unique automated forex adviser in that it’s more of a signal system than a built-in software program. It also focuses on specialization so that your profits are optimized towards only one market – the London session. This system revolves completely around the first two hours of the London market and so doesn’t take up a lot of your time to earn money.

The London Forex Rush System indicator works by monitoring the activities of the Currency Pairs which cross with the British Pound. The theory that’s put to work is that whatever movements the Pair makes when the London market opens would direct its overall direction for the day.

Though experience with forex trading would certainly work as a plus for you, the London Forex Rush System effectively pushes a newcomer to the right directions without any confusion.

 

Overall Rating:

Users generally commend the London Forex Rush System for its thorough mastery of the London market and its flexibility depending on what type of market player you are. Additionally, it doesn’t take up much of your time. For these advantages, the London Forex Rush System gets 4 stars.

To try out The London Forex Rush System, visit their web site to download it.

Actual Customer Feedback:

“…the London Forex Rush System is very simple in its nature and its principles have been laid out in detail for you, so it could easily be your first serious Forex system and still you’d be able to trade it no problem.”  Actual user review from forexrobotnews.com
“If you know how to trade and how the markets work, then we totally recommend London Forex Rush. It’s less than conventional take on “automated trading” is not comparable to the other forex systems out there and it’s definitely a unique gem.” Actual user review from myforextradingsystem.com

“London Forex Rush System is very flexible. Despite the fact that it gives you all the points you need to trade, you can also choose between aggressive and conservative stop loss as well as between aggressive and conservative targets. You can trade the way you feel more comfortable.”  Portion of a review from topforexeducation.com

“…the best part of the deal is that there is no need to stare at the charts all day long. The London Forex Rush system only trades the first two hours of the London session… Two hours a day is all you need to intra-day trade this system successfully!”  Portion of a review from newforexrobot.com

Our Research on The London Forex Rush System Suggests:

Our research on the London Forex Rush System has shown that the system places its foundations only on a particular period of a particular market. While specialization can offer unrivaled expertise and profits to a user, its downsides are that you could be missing other potentially bigger opportunities elsewhere or on a different time.

Verdict:

The London Forex Rush System is definitely a forex system with a more narrow scope – that is, the London market. This program allows you to make more money with less effort. Ultimately, it is London Forex Rush System’s ease of use, as well as its accuracy, that makes it a highly recommendable piece of software for your forex trading needs.

ForexWebTrader Review

ForexWebTrader offers a multiple award winning trading platform. This web-based platform allows customers to start trading immediately and because there is no download, the trader can go online from any computer using their secure login name and password. The flexibility that this offers is vital when trading as you can close open positions and capitalize on breaking market news wherever you are. A must have if you are a news trader.

Many Forex brokerages will offer amazing spreads and margin rates to bring you into their company, however when you start trading you realize that there are fees that you need to pay. ForexWebTrader has no hidden fees or costs. What you see is truly what you get, there is no slippage during hectic trading hours and no stop loss hunting.

Simply put – you get a great platform and great, competitive rates. With ForexWebtrader, there is no Flash – there is no hype – there is simply a great way to trade and make money. ForexWebTrader does not advertise as heavily as other brokers, but they are an honest and reliable broker with a good trading platform.

ForexWebTrader boasts an award winning trading platforms in the Forex industry, a wide variety of deposit methods and an always live customer service department. Some of the things that separate ForexWebTrader from the rest are:

• Instant SMS updates on breaking news
• Trade on the road with your phone
• Low spreads on most currency pairs

How to rate this broker?

Customer service: FWT’s customer service is terrific, they are there during trading hours and have are very helpful and knowledgeable. The online chat is a great service for quick answers to problems.

Integrity:  FWT delivers what they promise. An award winning platform with excellent features. IF you know what you are looking for; if you understand the Forex and how it works, ForexWebTrader is the right place for you. No pushy sales people, just one of the best places to make your trades.

Trading Execution: Trades are executed on the spot. With many platforms, by the time the system processes the order the currency has moved enough to affect the price and quantity. ForexWebTrader is fast and accurate. This is why it is rated the best.

Platform Features: Chart trading, graphs, news

***** Visit ForexWebTrader *****

Spreads:

Currency Crosses Target Spread (PIPs) Currency Crosses Target Spread (PIPs) Currency Crosses Target Spread (PIPs)
AUDCAD 15 EURGBP 3 NOKJPY 10
AUDCHF 10 EURJPY 4 NOKSEK 8
AUDEUR 7 EURNOK 45 NZDAUD 12
AUDGBP 5 EURNZD 20 NZDCAD 15
AUDJPY 8 EURSEK 50 NZDCHF 10
AUDNZD 15 EURUSD 2 NZDEUR 9
AUDUSD 4 GBPAUD 15 NZDGBP 5
CADCHF 8 GBPCAD 10 NZDJPY 8
CADJPY 6 GBPCHF 7 NZDSEK 90
CHFAUD 10 GBPDKK 75 NZDUSD 5
CHFDKK 30 GBPEUR 9 SEKDKK 7
CHFJPY 6 GBPJPY 9 SEKJPY 10
CHFNOK 50 GBPNOK 100 SEKNOK 8
CHFSEK 50 GBPNZD 35 USDCAD 5
DKKJPY 10 GBPSEK 100 USDCHF 3
EURAUD 14 GBPUSD 4 USDDKK 35
EURCAD 12 JPYDKK 5 USDJPY 3
EURCHF 3 JPYNOK 5 USDNOK 50
EURDKK 5 NOKDKK 7 USDSEK 50

LMT Forex Formula Review

LMT Forex Formula is a forex system developed by forex whizkid Dean Saunders. Though only 25 years old, when he wrote the system, he’s been a big name in forex trading circles for a long time now. I for one is not one to hold a persons age against him, particularly if what he teaches can make me money!

LMT in LMT Forex Formula stands for Low Maintenance Trading. That’s because this system is set up to require as little actual trading as possible while maximizing profits on very trade. I’ve traded this system for over three months now and the results have been very good.

This forex trading system is not an automated system, you actually have to trade for yourself. It’s also a signal service though, so you WILL get specific trades to make delivered to you. I don’t know if you’ve tried other systems in the past, but I think you’ll be very pleased with the ease of this one.
Let’s take a look what you get when you order Dean Saunders LMT Forex Formula:

  • LMT Forex Formula Manual – a 47 page manual explaining his system and showing you exactly how to set it up and apply it. This is the core of your system and it will be your trading ‘bible’.
  • LMT Custom Indicators Software – This is the charting and signal software that will let you know when, what and how to trade.
  • LMT Forex Formula Videos – Videos showing you how the system works. It really helps to have videos in addition to the manual.

So, this system is supposed to be ‘low maintenance’. How much time do you have to spend trading every day? The sales page says 15 minutes, but in my experience anywhere from 30 minutes to 1 hour of trading a day gives the best results. That’s not a lot anyway, don’t you agree. Particularly not when you’re trading with such a succinct and detailed system.

LMT Forex Formula is not a scalping system (making many small trades), but rather a day trading system. That’s why you can make money from only making one, or a few, trades a day. It’s about fewer but bigger trades. Trades that make more pips in profit from one trade than a scalper makes on tens of trades on an entire day!

Let’s get to the numbers now! How much did I actually make and what can you expect to make? Over these three months that I’ve been testing I’m on the run for an incredible 400% annual profit! That’s just remarkable. Even if it doesn’t keep up, and it probably won’t, it’s still great. Also keep in mind that I only traded this system with $1000 in my account to test the system on a ‘fresh’ account. I wanted to see if the signals provided would work for small deposits. It did. I do consider that this system along with Thomas Strigano’s Forex Confidante to be the two best systems available at the present. Worth checking out for sure.

Hector Trader Review

I’ve been a long time reader and fan of Hector’s blog, so I thought I’d review his newest product, the 3SMA Forex System. Hector from Hector Trader is a great guy and a very knowledgeable forex trader. If you don’t already, I suggest you read his blog from now on. I stumbled onto Hectors blog and system when my then broker gave me a tip to ‘try trading the breakout’ and then watching some of Hector’s videos on Youtube. It looked so simple and with his uncomplicated way of explaining his tactics it made sense to try one of his full systems. I’ve gone trough the Hector Trader Forex Trading Course (3SMA) and I think he’s definitely a cut above the rest of us. I think he undersells his course. It’s really more of a complete forex education! If you’re ready to go to school, let Hector be your teacher, you won’t regret it!

I’ve always been the kind of guy who wanted to know WHY and not just HOW. I believe that’s the best approach to really getting success in forex trading. Many forex systems skimp on the explanations and that leaves the trader feeling unsatisfied, if for some reason results don’t turn out as planned. The Hector Trader Forex Course explains each and every step in the system: Both HOW and WHY. When you’re done with this course, you’ll come out A MUCH BETTER trader. It’s literally like having a personal forex mentor. Let’s have a look at what you get with the 3SMA Hector Trader Forex Course:

  • 8 full chapters and an annex (first chapter is FREE – get it here!) covering absolutely everything you must know to trade Forex successfully: finding high-probability setups, entry signals, optimum stop loss and target levels, money management rules, and much more!Structured around 60+ detailed, feature-rich and comprehensive real time videos.
  • Over 17 hours worth of videos! Live videos are the best format to learn a trading system, it’s like looking over Hector’s shoulder.
  • Trend-Scanning custom indicator for MetaTrader4 platform: find solid trends across any currency pair or time frame!
  • Custom Excel sheet to calculate your Money Management, Track Record and Trade Plans!
  • Golden Rules of Trading: Get the top-10 rules to keep your account growing.
  • His eight course package is divided into the following:
    • CHAPTER 1 – Analyzing the trend
    • CHAPTER 2 – Pattern breakouts
    • CHAPTER 3 – Swing trades
    • CHAPTER 4 – Stop loss and targets
    • CHAPTER 5 – Blending the news
    • CHAPTER 6 – Trade management
    • CHAPTER 7 – London open breakout
    • CHAPTER 8 – The Golden Rules
    • ANNEX – My custom indicators

    What I like most about this program, except the HUGE amount of info, is the professionalism and clarity. Hector is a pro and it shows in his material. His course may be a bit more pricy than others, but I and other traders think he is worth the money.

  • The basics of his course is based on trend following, which he calls the 3SMA trading system. The difference from this and other systems is that it’s not just a bunch of indicators, but there’s also sound logic and explanations behind what you’re doing. In conclusion, Hector Trading is for you if you’re looking for a top of the line forex course and not a get rich quick scheme (though you will probably get rich faster with this system!). It’s one of the best courses available on the internet in my opinion. I have had great results myself with this system and I feel very comfortable recommending it to other traders.

Forex Robot World Cup – Who Are They?

Who is Forex Robot World Cup? and What Do They Do?

One of the first headlines on their site says “A Life Time Opportunity For Individual FX Traders To Own The Best Forex Robots In The World”

This is a pretty bold statement. They backup this statement with some stringent guidelines and full transparency. Read some more to learn what they have to offer.

The Forex Robot World Cup (FRWC) competition was established by a group of Forex traders and system developers with an important mission:

“Creating the first truly professional, automated Forex trading competition that would yield the world’s best functioning Expert Advisor (EA) driven by realistic parameters in live market conditions, and allowing Forex traders all over the world to use these Forex robots in their personal trading.”

The FRWC organization aims to eliminate the flaws which affected previous Forex robot championships in terms of the competition process itself and how they related to participating EAs:

1. When it comes to the competition process, the FRWC will focus on four main areas:
a. Giving every person an equal opportunity to participate.

b. Giving every participant an equal opportunity to win the biggest cash prize ever awarded in an automated Forex trading competition.

c. Creating a trading environment within the competition which ensures that every EA trades in uniform conditions.

d. Conducting a fully transparent and accountable competition process from start to finish.

2. When it comes to the participating EAs, we will focus on two main areas:
a. Appropriate qualification filtering so that participating EAs are sufficiently robust to withstand the true reality of live Forex trading.

b. Removing the characteristics that impede EAs from trading well over the long term.

3. When it comes to private FX traders, after the competition is over, the Forex Robot World Cup is committed to allowing them to purchase Forex robots that are under a unique category, the best of the best.

By covering all of the above mentioned areas, we are confident that the outcome of the FRWC will be like nothing seen before in the industry…

…discovering the best of the best and creating a new reality in the Forex market.

The FRWC is truly committed and prepared to establish a new standard when it comes to automated Forex trading

As you can see they have a very thorough and in depth understanding of judging forex trading robots. Who you know is also very important in forex trading and FRWC associated themselves with some very large names in forex. Forex Capital Markets and Boston Technologies, some of the largest and most respected names in forex. Give this start up group a huge show of support.

Finexo Review

Finexo is a retail broker that has been in business since 2003. Finexo uses market leader SaxoBank’s trading platform as a white label, which is certainly a positive. If you have been looking to trade with a reputed broker, but may have found their minimum deposit limits or commissions to high, then Finexo would be a suitable alternative.

Finexo has the same spreads as SaxoBank (3-14 pips), with the exception of EUR/USD, where you actually get lower spreads at most trading times. Their trading platform is browser based, but run on the same data feed that SaxoTrader does, which is a guarantee for up to the second, reliable price data. In addition to this Finexo offers 47 currency pairs, including some very exotic ones. I like this feature as I sometimes trade less liquid pairs that I have experience with.

Opening an account with Finexo is fast and there’s are a variety of methods available for deposits as well as withdrawals: Credit Card, Wire Transfer, Paypal, Money Bookers, Neteller and more. I’ve never had any problems withdrawing from Finexo, except for one time where I traded from a foreign IP address (from a country known for fraud). In that case, Finexo withheld the withdrawal until they were able to verify that I indeed had made the withdrawal.

Their platform has all the standard limit and stop loss orders as well as some more advanced orders such as ODO and ID. It’s a quite capable platform.

Finexo has a very nice mobile trading option, which works from cell phones and PDA’s and is free of charge.
The lowest minimum deposit is $25 and the leverage is 200:1. There is the option to upgrade to a VIP account that has lower spreads. There are also mini accounts available.

Customer service was knowledgeable and fast, when I contacted them. No problems there.

In conclusion, Finexo is much more than ‘just’ a white label (of SaxoBank though). It’s an independent broker that offers a lot of options and variety and comes with the financial soundness and reliability of Saxo Bank. I’d recommend Finexo to most traders, particularly of you have been looking at SaxoTrader, but don’t quite have the budget needed.

Pros and Cons of Etoro Forex Trading

Etoro forex trading is an online forex trading platform which aims at assisting the trader to begin and successfully improve their performance in the market by offering basic forex education, web trading lessons and social trading lessons.

The platform hopes to democratize the market by giving all the participants an opportunity to gain knowledge on both the basic and complex features of the financial market by teaching, educating and encouraging people who are interested in doing trades in the forex market.
The etoro forex trading platform is available to both beginners and also experienced traders. For beginners, the platform provides them with insights on the basics and initial steps in which to apply in the financial market. This is done through; the no risk trading, personal trading coaches, friendly graphical interface and low investment.

The experienced traders utilize the platform by gaining more knowledge and strategies aimed at improving their performance in the market. This is done through; the platform offering spread as low as two percentages in points, automatic execution and a personal account manager amongst others.

The platform also provides unique opportunities for both beginners and experienced traders to learn the best market tactics by following the activities of the successful traders in the market. This is achieved by utilizing the features which enable traders to follow their trader of choice and even copy their activities with an aim of emulating their trends.
The etoro forex trading program usually runs on windows operating systems with a web trader tool which enables traders to use the platform online without having to download any software.

However for traders to successfully use the platform, they must register and then proceed to download the program from the relevant website. Thus it is important for trader who wishes to excel and perform well in the financial market to utilize the features provided by the platform.