How low can the EUR go?
How low will the EUR go?
Short term support will be found at 1.33522… and if broken, new support for the EUR can be found at 1.3256
Jean-Claude Trichet just the ticket for EUR
Greece hits the headlines again… Now the Euro rests all of its current strength on the hopes of a single nation… well, a single man “Jean-Claude Trichet anyway….
But as you might suspect, its all just silly rumors really… so you can expect that when the proverbial poo hits the fan, the EUR will continue it’s decline against the USD… If you believe ‘sell the news’ type strategy then now would be a good time to accumulate a short EUR position, ready to take advantage of the inevitable.
This is also supported by the fact that the last mini rally has now hit and rebounded off resistance at the 61.8 fib level of 1.3852.
So where will the EUR go, and how far?
Fibonacci technical analysis tells us that it is most likely to reach 1.3349, and then possibly hitting support at 1.3256.
Enter your short position now to take a nice easy 420 + pips this month.
How low can the euro go?
with more bad news coming out of the EUR participating countries on a daily basis, the question still remains… how low will the EUR go? is the USD really a ’safe’ currency? will the world go on and conveniently forget that they have metaphorically speaking “a Mount Everest” of debt?
Forex MegaDroid Leading the Charge
www.tradingstockshop.com
With nearly a $400 gain over all my accounts this week, it’s shaping up to be a BIG one! Forex MegaDroid has found it’s legs again and starting to turn in some profits over all my accounts. It took a bit of a holiday over the past few weeks, so it’s good to have it back trading int he Black again.
Overall, MegaDroid has made more money than all the other robots, and it trades the least. I like the fact that it trades while I’m away, and I can trade with confidence and know that I don’t have to worry about it at all. That type of reassurance is worth it’s weight in gold.
The manual trades are starting to come right. I had experimented with trading different time frames, and multiple time frames too… but found it just got too darn complicated, and made some significant losses early on. Now that all seems to be behind me, I can supplement the MegaDroid trades with an additional 30 to 60 pips a day.
Building wealth the smart way has never been so easy.
Stay tuned
Gareth
BIG Problems with FAP Turbo
There have been a reported 45,000 downloads of the FAP Turbo trading system. If this is true, then there will be 45,000 people using this robot watching the capital in their accounts erode away.
Todays market is a traders dream for making money if your in the right trade at the right time. Unfortunately for FAP Turbo over the past 2 weeks, it has consistently got the trades wrong. Not only that, but the advanced money management algorithm hasn’t kicked in to preserve capital either.
For an idea on exactly how much money I’ve lost, you can get the full trading statistics here: http://www.tradingstockshop.com/forex-fapturbo-results.php
If you see a 10% recline in an account in a very short space of time, you start to get a little bit jittery… I don’t muck around with demo accounts either. You see, the true acid test of any system is in live trading. Unfortunately, FAP Turbo should probably be left alone for a while and either wait for an update to filter out these bad trades, or wait for the market to start behaving more like it did in 2007 and 2008 where FAP Turbo performed well in back testing.
Every dog has it’s day… perhaps FAP Turbo has seen it’s best days already… Maybe it’s too early to draw too many conclusions just yet, but for the sake of my FAP Turbo account… I’ll be giving this robot a break for the time being.
Good luck with your trading
Gareth
What Is A Forex Trading System That Makes Money?
A forex trading system is defined as being a group of specific rules or parameters used by traders to identify entry and exit points to trade. Incorporated with money management and automated trade placement with your broker, the forex trading system can be completely automated.
Most forex brokers offer MT4 (meta trader 4) platform in which to trade, making it possible for anyone to create a winning system, and put it on autopilot. And if making your own system sounds like too much pain and hard work, you can simply buy one (or a few) of the many automated forex trading systems that are available for purchase and download. These are generally known as Forex Trading Robots.
Unfortunately, if you plan on relying on someone else’s trading system, then your fate, (or at least the fate of your account) will be completely in the hands of a complete stranger! You would want to make sure they know what they are doing and have covered all the necessary parameters in their trading system.
At the very minimum, the forex trading system should include:
1. Entry rules that provide a high probability of choosing the market direction correctly
2. Exit rules that convert the high probability entries into ‘money in the bank’
3. Sound money management system
1. High Probability trading is only the start of a well oiled forex trading system… NOT the be all and end all… Yes it is important to have a system that can trade successfully but it is not necessary to have all your trades as winners.
It isn’t even necessary to have most of your trades as winners. Given the laws of probability, it is highly likely that given enough trades, you will choose the direction correctly 50% of the time. I know traders that choose the direction correctly less than 40% of the time, but still have a trading system that returns a profit in the long run… and if you’re wondering how still, read on for more insight.
2. Exit rules… now this is the second most important part of your winning forex trading system. Once you’re in a trade, knowing when to exit. You see, in an ideal world you would want to leave your trades on long enough to capture the majority of the move on winners, and get quickly out of losing trades. If you can do this, then you’ll be well on your way to having a forex trading system that defies the odds that 90% of all traders will lose all their accounts… And accounts of $1000 or less will be wiped out within the first 3 months!
But doom and gloom aside, knowing your exit strategy before you enter a trade is a very important part of any successful trading system. If you could let all your profits run until the move is finished, and all your losses cut short and sweet, you will be well on the way to making a fortune trading the markets.
3. Money management. A parameter of this importance seems to be a bit out of place at the end of an article! But your ability to impose correct money management strategies on your system will be the difference between success and failure, rags and riches, extreme wealth and extreme disappointment. To define exactly what a good money management system is beyond the scope of this article, but needless to say, I recommend that you start creating your system based on money management, and not entry points (like so many terrible forex trading systems do).
The biggest disappointment in the forex trading business is seeing the high number of automated trading systems (forex robots) that are based solely on entry and give little thought to making an algorithm that is sophisticated enough to let profits run and cut losses short. And most give little recognition to the fact that it is money management skills that turn in the profits in the long run.
My Forex MegaDroid Account Has Now Nearly Doubled
Today’s profitable trade of $414 USD has taken my total account value up to $9800… see tradingstockshop.com for the full report…
This means that in 4 months my account has nearly doubled with the forex megadroid trading robot. This is a great result, amist all the turmoil in the market, the accuracy and reliability of this robot is second to none.
I have witnessed a few posts and forums where people are not getting the same results as me! To all those people that are complaining… look deep at yourself, cause this robot lives up to everything that it has promised. I have had only one losing trade, and since then more than made enough of a return not only to cover that trade, but also to take on additional risk, or even split my account!
Keep watching this space and see how long it takes before I double my money again!
For all those interested… (maybe only 1 or 2 people that actually follow this blog)… I am setting up another 3 trading accounts.
Each account will have a different initial captial. each account will have different risk profiles. and each account will have one or more trading robots doing all the work!
Follow me over the next few months as I delve deeper than anyone before me into these trading robots, as I set out to prove that you can actually make money with these automated robots, if you set it up properly, and trade with a sensible constitution…
All the best
Gareth
Another Two Trades… Another Two MegaDroid Winners
It’s been a week since my last post…. and now MegaDroid has continued to trade profitably taking my account closer to the 100% return mark in 4 months… Currently sitting at $9400 total capital after an initial investment of $5000, this robot is truly in a class all of it’s own.
see the full result at www.tradingstockshop.com
Only one trade was a loss… but overall, this robot is a winner…
Oh yes, and I was out of the country for that entire time too on business. so even while I was unable to access the markets, this little robot made me a bit more money! happy days
Gareth
MegaDroid Trades again! Another $324
When you design a trading system like Megadroid. You got to be among the elite… really, these guys have something special here! so far, My Megadroid has traded 27 times in two months… so the frequency is less than an aggressive trader might like. But… only one of those trades resulted in a loss.
So lets extrapolate these results out over a year and see what my projected results on my $5,000 account will be.
1. winning trades = 96.3%
2. average win as a percentage of account value = 4%
3. losing trades = 3.7%
4. average loss as a percentage of account value = 15%
Given the above percentages or ratios you can expect to grow your account each year! And that is the most important thing… it is a highly POSITIVELY geared expectation strategy.
But by how much? We’ll, plugging $5,000 starting capital into the equation, you can expect to grow your account by about 220% every 100 trades… If you care to extrapolate that out further… If Megadroid trades 27 times every two months, then it will trade approximately 162 times a year, meaning your account will grow significantly more than 220% in a single year.
Any way you look at it, these figures are amazing. It doesn’t matter how you slice up the profit pie, if you’re returning this sort of money, then extrapolating that out over 3 years, you’ll not only have wealth, you’ll also have cash flow. Living on $40,000 per week, or thereabouts anyway.
Whatever your choice, opportunities like these only come around a few times in a lifetime!
Good Luck
Gareth
MegaDroid making more profits
It’s been a while since my last post… but if you’ve been keeping up to date with the site at http://tradingstockshop.com you’ll see that three trades have placed and won in the last couple of days…
The most interesting thing about these trades is that yesterday Megadroid opened both a sell and a buy order simultaneously. Why? I have no idea… but at least the droid had enough sense to get out of the trade as soon as it hit a small profit on both the long and short side.
