Making the right connections

There are hundreds, maybe thousands, of systems available to trade the Forex markets. Systems can be fully automated, generally referred to as "Expert Advisers" or "Robots", or they can be "Manual" systems which generate trading signals, ie Entry, Exit and Stop Loss levels, for you to manage the trade.

You have to find the right combination for your personal trading style ie do you want to "set it and forget it" and trade totally automatically?

Do you want to trade manually and watch your PC screen for a few hours each day?

Or do you want a combination of both?

I use a combination of systems to trade Forex and my experience to-date also convinces me to use different systems at different times. For instance if one EA has a bad run, I switch it off and revert to a different one. No single system will perform to the highest level in all markets, well certainly not one that I've found yet!

With manual systems you have to consider whether there is any major breaking news around the corner that could impact the financial markets or are there key dates to avoid trading, for instance Non-Farm Payroll announcements in the USA which occur the first Friday of the month, FOMC announcements or maybe budget/pre-budget statements.

Major announcements can be found in the Global Economic Calendar here: http://www.dailyfx.com/calendar

Remember to ALWAYS test any system on a demonstration account before committing your hard earned cash!

MANUAL TRADING SYSTEMS

Forex Multiplier

Currency Pairs:

You chose from all the major pairs available.

Forex Multiplier allows you to trade a variety of currency pairs either on a "day trading" or "swing trading" basis. Simply input previous High, Low and Close levels for either the previous day, for day trading, or end of week, for swing.

You then select one of three tolerances to risk and according to the level you choose, the software will give you exact entry points, take profit levels and stop losses which are either good for the day or week.

When you purchase Forex Multiplier you also recive four "e-Books" to help broaden your knowledge of Forex trading. Take a look at the author's website for further details.

I like the flexibility that Forex Multiplier provides. Different currency pairs that you chose, traded at different times of the day all with customiseable risk levels offer a truly flexible approach to Forex trading.

Forex Multiplier is a standalone PC application so the signals generated can be used with any Forex Broker.

London Forex Rush

Currency Pairs:

GBPUSD, GBPJPY, GBPCHF, GBPAUD, GBPCAD and GBPNZD.

London Forex Rush trades six currency pairs all based on the Sterling Pound. All these pairs are potentially highly volatile particularly at the start of the London market opening when the system looks for a breakout from the quieter range period of the Tokyo markets.

Two sets of signals are provided, aggressive and conservative, for Entry, Stop Loss and Take Profit. You chose which signals to use based upon your tolerance to risk/reward.

Signals are generated if available when the London market opens at 08:00 GMT and can also appear at any time over the next two hours. You can chose to trade any signals at market opening only or continue to watch for potential trades over the next two hours. You choose how long to sit at your PC.

The indicators and template used in London Forex Rush have been designed to run on the MetaTrader4 platform used by all the key Forex Brokers. I use AlpariUK.

Supra Forex

Currency Pairs:

20 different pairs plus Spot Gold.

Top three pairs recommended by the Author:

EURUSD, GBPUSD and USDCHF.

Supra Forex is very similar in operation to Forex Multiplier although the input is undertaken via a web based interface.

Supra Forex requires end of week High, Low and Close levels only which can be obtained from a variety of Forex platforms.

The Author suggests two types of trading strategy to use with Supra Forex:-

1. The 30 Minute Trader - where you look at potential trades, which should take you approx. 30 minutes, anytime between 22:00 - 01:00 GMT. Trades are good for the week.

2. The Active Trader - where you can use either Monday's trading signals if your trade reached your target on Monday. To obtain further trades you simply enter Monday's high, low and close to get more trading signals for the week. There is also a strategy to use if your trade gets stopped out on the Monday.

All is explained in the comprehensive User Manual you get with the system.

Supra Forex is a web based system so once again the signals can be used with any Forex Broker.

SureFire Trading Challenge & Trader's Secret Library

SureFire Trading Challenge, and it's membership site, Trader's Secret Library, is owned by Old Tree Publishing, a world renowned trader education organisation.

Key Features:

A central and respected place of learning for traders.

Provides members complete access to some of the best trading systems in the world.

Weekly traders session which allows you to train with a professional trader.

Video of the month club lets members make videos to teach other traders the best way to trade.

Members forum with professional traders as moderators who answer every question.

Dedicated professional programmer who moderates the EA/robot section of the forum

One of the largest collection of trading education material in the world.

There is an absolute wealth of information as described above that is available to both new and experienced Forex Traders.

Subscription to this service has been restricted in the past due to the sheer volume of applications. Follow the link to check availability