Forex Trading Methods - Analysis Of This Trading Method
This forex trading method took me by surprise, I must admit, I was biased for more of the same, a woolly, half baked idea put together to sell to the naive traders. What I found was an amazingly welldefined, well thought out system and when I watched some of the videos on the sales site, it was clear that Russ Horn is a trader and a pretty good one at that|is a traders trader|as decent a trader as yours trully :). As my regular readers know, my method of trading consists mostly of scalps and reversals, never have been much of a trend trader, choosing trend end indicators, for quick and sharp move, which serve me well. Ok, this Forex Rebellion system does both as it can be traded as a trend following technique and is good at establishing confirmed turn arounds. This is awesome as it can often get into a new trend, and those trades are priceless.
Being excited I immediately put the system to the try out in the real world, opened 2 trades and made around 50 pips each in 2 hours. Now 2 hours is an eternity for my trading style, but I managed to stay in the trade. Needless to say I could have had another 20 pips or so, and that's what is so good about forex rebellion, I have come to accept the signal very quickly and am learning to expand my quick in and out mentality, by taking ¼ position off after the initial push and manage the rest. I usually use my own methods only, the Forex trading method just added another winning strategy to an already good armory.
Is it easy to set up?:
Ok, if you've been using MT4 (Metaquotes free charting package) for a while, you can set it up in a few minutes. If not, Russ has produced a few videos displaying exactly what to do, he's even automated some of the process for you.
The documentation is great, no hype, no beating about the bush, easy to use PDF and for those too impatient to read a long manual, a load of mini videos, detailing all, setup, entry, stops, exits, the whole method, this guy is an excellent coach too. Each video is only 4 - 9 minutes long and there are numerous live trade videos for those (like me) who learn by example.
The Method:
A remarkably visual signal is issued for either sell or buy trade, entry point is visual too and is ahead, so that you don't enter at current price but enter a stop/limit order. The stop losses are clear to see and are simplicity itself as are the target and trailing once you're in showing profit. (In all the trades I took, the price never came near the original stops), that is not to say that it will never happen, it will. Money management is simple, as all is clear and you can calculate position size accordingly. Of course not all trades will be winners, however, Russ has figured a way to reverse a losing trade and profit from that, splendid. There are some extra free methods that help you select a high probability trade and videos on money management and emotions.
In my opinion:
If you are going to spend any money at all on both educating yourself and getting a brilliant system, at $97.00 this is cheap, it's worth far more in my view and I wouldn't be surprised if demand pushes the price up.
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