Automated Forex Trading Systems

It was a very difficult morning this morning with no clear direction in the currency pairs we normally trade in the www.fx500club.com Live Trading Room Online.

I searched all my charts on the 5  minute timeframe and could only find one possible setup using my bunched moving averages strategy. It was the euro gbp currency pair, the setup was for a possible long trade on the 5 min chart , it didn’t look quite right but I took it anyway because the stoploss was so tiny, just 5 pips away, I closed 75% for a 10 pip profit, the rest got stopped out, but overall a small profit, the risk was worth it.

As mentioned yesterday euro gbp often goes the opposite way to cable so I was well aware that if eur/gbp turned and went south then usd/gbp may well go north. That was where  I bagged most of my pips this morning.

Dan Armitages daily forex roundup in todays www.fx500club.com live trading room said we would need to be patient, with a possible short entry from a breakout trade on cable through the old low of 1.6059 as I was already in eur/gbp long and was half expecting it to turn and go south I didn’t take the cable breakout short.  Instead I waited to see what euro gbp did and then took cable long when it showed signs of hitting support and reversing to go long.

The red X marks the low that Dan in the www.fx500club.com Live Trading Room had said we could trade the breakout through with a tight 10 pip stoploss.  As you can see from the upwards facing red arrow it broke down through 1.6059 then hit suport at 1.6044 I took a chance and went long at 1.6055 with a tiny stop below 1.6044 aiming for 1.6110, it worked.

Dan Armitage and the www.fx500club.com promote high probability forex trading with as little risk to your capital as possible, this was not a trade he called in the fx500 live trading room but with the excellent trading skills of all the forex teachers in the fx 500 live trading room I am certain one of them will have taken this low risk trade as well.

If you are considering using any automated forex trading system always test it for at least six months before using real money. I have seen many automated forex trading systems work for a few weeks, doubling and trebling account sizes only to eventually blow all the funds to zero. You are far better learning how to trade forex manually with the www.fx500club.com than using any automatic forex trading system.

Click Here to get a FREE days entry into the fx500 club live trading room

Always Remember.

Keep your risk as a percentage of your capital low (1%), equals stress free trading.

Always work out potential losses before potential profits.

We are paid to take risks, if you aren’t in a trade you cannot win a trade!!

Buy off support and sell off resistance.

Bank partial profits early and move your stop loss to break even as soon as you can.

I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.

Click Here to get a FREE days entry into the fx500 club live trading room

Fap Turbo is a good automated trading system but I prefer to trade manually and have learned to do so with the help of the guys in the www.fx500club.com and the www.fxmonkeyschool.com Online school for forex traders.

Zak Lloyd in the www.fx500club.com had four potential trades setup ready for us for when we logged in the the forex trading school this morning. Gold, eur/usd, cable and the one I chose to trade usd/chf.

It was all pretty straight forward, Zak had used the us dollar index chart to identify that the dollar was looking a bit weak, it was then just a case of making our trades using our own risk profiles.

I took my short trade early pre empting the break down, this allowed me to have a very tight stop loss, riskier but the added profit potential was woth it for me. The price had tested and failed to close above the daily pivot so I managed to get in at 1.0815 with my stoploss just 15 pips away at 1.0830 first target at 1.0779 34 pips away, close half there and let the last half run targeting 1.0768 close another 25% and let the last 25% run after moving my stop loss down to 1.0810 for a free trade.

Zak, Dan and James are very good forex traders and are also amazing forex teachers, I cannot praise or thank them enough for all they have done to improve my trading.

Click Here to get a FREE days entry into the fx500 club live trading room

Always Remember.

Keep your risk as a percentage of your capital low (1%), equals stress free trading.

Always work out potential losses before potential profits.

We are paid to take risks, if you aren’t in a trade you cannot win a trade!!

Buy off support and sell off resistance.

Bank partial profits early and move your stop loss to break even as soon as you can.

I am learning how to trade these setups and indicators across all time frames with the help of the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.

They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.

The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.

Click Here to get a FREE days entry into the fx500 club live trading room