9 Forex Trading Systems FREE Forex eBook is a gift from Lars Larsson, a pro forex trader from Stockholm, Sweden. Download these 9 Forex Systems FREE. I am not sure about the author of this Forex eBook but it gives away 9 Forex Trading Systems FREE. These Forex Trading Systems are:
1. Forex Profit System
2. ‘Scalp’ Trading the 1min Charts System
3. Moving Average Intraday System
4. The Day Trade Forex System
5. “Micro Trading” the 1 Minute Chart System
6. Tom Demark FX System
7. The Forex News Trading System
8. The CI System
9. Forex Intraday Pivots Trading System
I think these systems are good. You can go through each one of the trading system that has been explained in detail with entry and exit rules. If you want, you can test them on your demo account and see how well they trade. Make this a rule, first test a system on a demo account for at least one month. Make at least 100 demo trades. Calculate the Total Net Profit by subtracting gross profits from the gross loss. This will give you a broad idea about the profitability of that trading system. But you need to know more! Total Net Profit is just too broad a measure. Don’t get confused by it. Use these 100 trades to calculate the average win to loss ratio of the system plus maximum drawdown, average drawdown, average trade statistic and other important stats.
Always remember, trading is a numbers game. Your return compounds with the passage of time. What is more important is to win more on average as compared to losing in the long run. However, the size of your average win as compared to your average loss is going to determine how much profitable you will be in the long term. It is the long term performance of a trading system that is important. What you need to know is that whether this system will be consistently profitable. Calculate the average loss over these 100 trades as well the average profit. Calculate the profit factor of the system. It must be not less than 2.0. If it is less than 2.0, the system is not profitable on the long term.
Doing this testing on your demo account will be good education as well as good practice. In the end, it is your trading system that is going to make you rich. Consider the trading system as your best friend. Don’t hesitate to test your best friend under all types of market conditions. Once, you are satisfied with the demo testing, open a mini or a micro account and trade live with that system under the live trading conditions. These steps are essential. There should be no rush! Learning to trade forex should be like preparing for a marathon challenge. Let’s discuss some of these 9 Forex Trading Systems now:
Forex Profit System
This system uses two indicators Parabolic SAR and 3 EMAs on the hourly chart. You get precise instructions on how to enter into a trade and when to exit plus where to place the stop loss.
Scalp Trading The 1 Min Charts System
Scalping is done on the shorter timeframes. But it can be done on the higher timeframes as well. Many traders don’t know this. For the time being, we stick to the 1 Minute Charts. On the shorter timeframes, you can get lots of trading signals but the chance of getting false signals is high also due to the presence of higher level of noise on the shorter timeframes. Again this system uses 3 EMAs. You can try it on your demo account and see if it is easy to trade on the 1 Minute charts.
Moving Average Intraday System
This system uses the MACD oscillator, a volume indicator and Bollinger Bands with an Moving Average and Candlesticks on the 30 minutes charts. However, the system has not been satisfactorily explained.
“Micro Trading” the 1 Minute Chart System
1 Minute Charts as said before are fast moving with a lot of noise. This fast moving nature of the 1 Minute Charts may not be your style. But if you do, you can try this 1 Minute Chart System to trade news releases on your demo account. There is a problem of whipsaw on lower timeframes. For that you can try three different EMA and BB combinations. Whatever, you can try this system on your demo account.
Tom Demark FX System
Tom Demark Forex System is a simple, easy and powerful. You must try it on your demo account. Tom Demark is a famous trader, founder and CEO of Market Studies LLC. He is famous for his DeMark Indicators. In April 2011, the Technical Analyst presented Thomas Demark with the 2011 Technical Analyst of the Year Award in London. In this system, you use two EMAs with the Momentum Indicator on the Hourly Charts. You use the Tom Demark Trendline as the filter to make the entry and exit decisions in conjunction with the EMAs and the Momentum Indicator.
The Forex News Trading System
Again this News Trading System uses the 1 Minute Charts. But the good thing is that it uses a tight stop loss of 10 pips. This news trading system has been explained in detail. News Trading can be dangerous. Many new traders get slaughtered trying to trade the news. However, using the 10 pips stop loss ensures that your risk is highly limited when you trade the news with this system. You will also learn how to avoid the Whiplash plus what is a dud. Practice it on your demo account.
The CI System
This system uses the 1 Hour chart to determine the main direction of the trend, then uses the 15 minutes charts to find the ideal entry and exit points using candlesticks. This system has been explained in detail.
Forex Intraday Pivots Trading System
Pro traders use pivot points in their trading frequently. Markets seem to respect these pivot levels. Trading with this Intraday Pivots Trading System on your demo account will be a good training for how to trade with pivot points and how to use a pivots calculator. This system uses two pivot support and resistance levels S1, S2 and R1, R2 but also the midpoints M1, M2, M3 and M4 between theses S1, S2, R1 and R2 levels along with EMAs and MACD on the 1 Hour and 5 Minutes Charts.
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