Instructions for Using "Second Opinion" Trading Plans
Retrieving The Plans - All clients can retrieve the ForexEarlyWarning trading plans and access The Forex Heatmap ™ with their username (email address) and password just by logging in to the members area. Each trading plan can also be printed out and there is a button you can click on to do this. When new plans are posted a visual notifier will flash on the homepage.
Plan Contents - We follow 28 pairs comprised of the 8 major currencies. The trading plans will tell you whether or not the pair in each plan is trending, oscillating, or a new trend is in place or forming. We will also describe the behavior of the pair and as well as the overall market, i.e choppy, trending. We discuss the pairs in parallel and inverse groups, for example all JPY pairs are discussed together, all USD pairs are discussed as a group, etc.
Trading Plan Frequency – Second Opinion market analysis reports are issued 10 times per week starting Sunday night. The plans are posted within about a 30 minute window of time plus or minus at 0200-0300 GMT and 1500-1600 GMT so check the Forexearlywarning web site near these times for the latest report, even if your notification email has not arrived. A visual notifier will flash on the home page when a new report is issued.
Price Alarms - Make sure you have access to price alarms on your brokers trade platform or through Metatrader 4. Instructions for setting up price alarms on Metatrader 4 are indluded with the free trend indicators we provide. Our forex trade plans have specific price alarm points that can be setup on your live or demo platform. Free price alarms are widely available on many brokerage platforms and our free trend indicators with destop alarms are located here.
Trend Indicators - Second Opinion trading plans come with a specific trend direction for up to 28 currency pairs. We provide clients with a set of free trend indicators to use with our plans. When checking the trend indicators focus on the larger time frames, H4 or larger, on all 28 pairs we follow, and only use the smaller timeframes with The Forex Heatmap ™ to verify your trade entries. A good trend is when the red and green lines are separated and pointed up (or down) with a good angle on the H4 and larger time frames on the free trend indicators. Open red and green lines point up for buys and down for sells and the trend is valid for that particular time frame. The free trend indicators can be easily set up on a metatrader platform that has have built in price alarms. Most of your trade entries will occur in the main trading session.
News Calendar - Be sure to check the forex news calendar for the upcoming trading session. Economic news can drive price movement. Here is one forex news calendar we like and reference in each trading plan. Strong news drivers are color coded in red and also color coded in each trading plan.
The Forex Heatmap ™ - All clients have access to The Forex Heatmap ™ version 2.0 and 3.0 for full entry verification. Review its proper use and associated lessons before your first paper trade. Learning resources and example entry signals for the heatmap are located on this page on the bottom pagagraph.
Price Alarm Points - Price alarm points provided in each trading plan are not "buy points" or "sell points". When the alarms goes off check check the parallel and inverse pairs and market condition prior to entry using The Forex Heatmap ™. If The Forex Heatmap (tm) indicates that you should not enter the trade just reset the alarm higher or lower and check it again later when the adjusted price alarm hits.
Initial Stops – For initial stop order placement read the guidelines contained on the forex trading tips, which are located here.
Analysis Method - ForexEarlyWarning uses multiple time frame analysis of up to 15 time frames on 28 currency pairs for trading plan development. We analyze the pairs accouring to all 8 currency parallel and inverse analysis groups, i.e , USD pairs are analyzed together as a group, then all of the EUR pairs, then all of the JPY pairs, etcetera.
Ongoing Education - To accompany the trading plans we have a complete forex education library. This library contains videos, audio, and written lessons. This is supplemented by two live webinars on Wednesday nights.
Cost and Rebates - The cost of the entire package is $19.95 per month, no hidden costs or upselling. Cash rebates are alsl available from our partner brokers and the rebates will be paid into your trading account. For more details see the partners page.
Copyright - Each plan is the sole property of Forexearlywarning and the subscriber only and is protected by federal copyright laws. Please do not post or publish any trading plan in any form, this would be a copyright infringement. The service is the lowest priced on the market and we also provide broker rebates to obtain the ForexEarlyWarning trading plans and The Forex Heatmap ™ at no cost to any forex trader.
Questions ?? - If you have any questions about our trading plans please let us know at partners@forexearlywarning.com.
U.S. Government Disclaimer - Commodity Futures Trading Commission. Forex, futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the spot forex, futures and options markets. Don't trade with money you can't afford to lose. This web site is neither a solicitation nor an offer to buy or sell futures, spot forex, or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site The past performance of any trading system or methodology is not necessarily indicative of future results. These trading plans are our opinion only and a best honest effort to show what trades we are considering. We are not recommending or representing buys and sells only analyzing our indicators for trends and possible entry signals.
The "Second Opinion" Forex Trading Plans are provided by MT2 Enterprises, LLC. All rights reserved.
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