Powerful Money Making Forex Robot

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Time Frame Analysis.

The price movements of a forex currency pair is normally represented with bar charts, candle sticks or lines on various time frames ranging from one minute to one month. Each candle stick on the hourly chart, for example, supplies us with information as per the price of the currency pair at the beginning of the hour, the range of price movement within the hour, and the price of the currency pair at the close of the hour. Most new traders find it difficult to understand the interrelationships between the time frames and how to use them in forex technical analysis.

 

In order to properly understand the concept of multiple time frame analysis, you need to first understand what kind of trader you are. Generally, there are three classes of traders: day traders, swing traders and position traders. Day traders open and close positions in the same trading day, swing traders could hold positions for days, while position traders hold positions from weeks to months.

As a technical trader, there are just three goals you have in your analysis; where the trend has been, where it is right now, and where and when to get on board. It follows therefore that you need just three time frames to do this, and these will be chosen according to the type of trader you are. A good guideline for choosing is as follows:

1. First choose a time frame that best fits your trading class; e.g. 15min chart for a day trader, hourly chart for a swing trader, and daily chart for a position trader. This is where you take your signals from (the system you are using not withstanding). It is where you decide “where the trend is right now”. Most of your trading time should be spent here.
2. Then you choose the other two time frames. One should be large enough to be at least four times larger than the first one you chose. This is where you get to know “where the trend has been”. It is where you determine if the trend is up or down so you could trade accordingly.
3. The third one should be small enough to be at most four times smaller than the first one you chose. This is where you take your entry i.e. when to get on board. So the combinations could be 1min, 15min and 4hrs for day traders, 5min, 1hr and daily for swing traders, and 1hr, daily and weekly charts for position traders.

Note: The factor of four is to make the Elliot wave’s “waves within wave” principle possible (8 waves make 2 waves on a larger time frame).I’ll explain the need for this in multiple time frame analysis soon. While you don’t need to analyze every available time frame to avoid ‘analysis paralysis’.

So here are a few tips to help you understand the interrelationships and use of multiple time frames:

1. Like ocean waves, every new trend begins on the lowest time frame i.e. 1min (once a news release or event calls for that) and gradually progresses to the larger time frames. This happens with several cycles of waves on the smaller time frame before it shows up on the larger time frames. For a swing trader, for instance, the five minutes chart would have formed a series of waves and probably completed its cycle of 8 waves before showing an impulsive and a corrective wave on the hourly chart.
2. At this point, the 5mins chart may have gone back to over sold (assuming an uptrend) while the hourly chart is just above 50 on RSI. This is why the time frames you choose should have at least a factorial difference of four; so that if you get a buy signal on the hourly chart as a swing trader, you can then wait for the 5mins to return to oversold position before you buy.
3. As the waves progress to the larger time frames, your trading bias will shift accordingly. In the case of a swing trader, once the daily trend is up, you know you are trading against the trend when you follow a signal to sell on the hourly chart. So you want to do that with great care or you ignore the temptation altogether.

In summary, for a swing trader, a good opportunity to buy is when the trend determinant (daily chart) is on a strong uptrend i.e. not yet over bought, and the hourly chart is oversold on an initially formed uptrend, and turning up, while the 5mins is oversold and turning up.

You’ll agree with me that sitting with your PC to see all this conditions fulfilled could be very tedious, and many a times, it doesn’t just happen as at when you have the time. So let me show you a secret weapon I use that could trade for you 24/5, even more accurately than you can hope to be in manual trading. It’s called forex autopilot. Please check it out here: www.tinyurl.com/4tluvp. You’ll get it free because you’ll be given $100 trading credit with their broker, and you have nothing to loose with their iron clad 60days money back guarantee.

 

Forex autopilot risk-reward?

Risk-reward is no doubt an important part of any forex strategy. It’s in fact so popular among experienced forex traders you’ll believe its the whole essence of trading. However, it has some serious short comings: The first of it’s shortcoming is the stoploss hunting phenomenon. All of us have at one time or the other experienced a situation where ones you are stopped out of your trade at a loss the market just turns and moves in the direction you had expected. Exactly how this is achievable is still a mystery to those of us who are not market makers.

The second problem with risk reward is that it sometimes puts you in dilemma as to how to position your trade with respect to technical levels. Lets say you decide to use 1:2 and take a profit of 20 pips, you’ll often find that theres no technical level between your best entry point and where the 10pips stop loss elapse: so you are confused and let a good trading opportunity slip off your hands.

However, one of the wonders of forex autopilot is that though it takes a profit of 20 pips, it manages risks by using an internal mechnism that doesn’t reveal the stoploss but closes trades automatically ones the prevailing technical set-up becomes contrary to its entry parameters. This gives it a edge over stop hunters and prevents indecision due to unfavourable technical positions. Its the first robot I’ve seen that closes unfavourable trades at a predetermined point just like a human trader who wants to prevent stop hunting. In fact, this is the major reason why most robots don’t succeed. For more details on how Fotexautopilot works and how to get it with $100 free trading money visit- www.tinyurl.com/4tluvp.

I appreciate your comments. Pleas feel free to keep the comments and questions rolling in.

Forex Autopilot: The Wonderful Money Making Machine

Do you know there is a home based business called Forex? It’s based on buying and selling of currencies at favourable prices. It’s the largest capital market in the world with a daily turnover of  about $2 trillion. Forex has an unbelievable potential to make you a millionaire or make you go bankrupt- depending on your experience and tools.

Apart from the high risk in the forex market due to economical releases and general world events, it could also be very stressful to sit with the computer 24/7 waiting for the indicators to give you the green light. Even when you get your trade right, you would need to have the nerves to watch as price fluctuations throw you around. The worst part of it is the stop loss thing, which is an order to close an unfavourable trade at a predetermined price. In my opinion it’s as if the market sometimes chases after your stop loss order and then turn in the direction you expected once it has closed the trade at a loss.

I’ve even tried to overcome the human limitations of emotional and inacurate decisions coupled with stress by using various forex robots or forex expert advisors without success. There was even one I purchased for $4000.00 that was not only a flop but wasted most of the money I have in my trading account; it was a nightmare! Then I stumbled upon this miracle working forex robot called forex autopilot. Really I’m an experienced intelligent trader who can easily dimistify any trading system, strategy or software, to know how it works, but up till this moment forex autopilot is still a mystry to me. It works like nothing I’ve seen before in the forex market. It works as if it controls the movements of the market, it works wonders. Within my first few days of using it, it made over a thousand dollars. I couldn’t believe this was possible in forex. It takes trade with 96% accuracy! and can be back-tested on historical data to see what it would have made for you in the past years.

And to cap it all up it’s FREE- They give you $100 bonus through their broker for buying it for $99.50 and it comes with an ironclad clickbank 60days money back guarantee in case they fail on their promises. It’s so easy to use that someone who knows absolutely nothing about forex can use it to make money as if he has a dollar printing and minting machine at his backyard.

Do you wish to make your wealth online from the comfort of your home and be financially independent? Then check it out at http://tinyurl.com/4tluvp. You will ever be grateful to me if you do so now.

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