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1 – Telegram App Update 9-1-2023

Effective September 1, 2023 our push alert system has moved to Telegram.

Download the Telegram app to all of your devices.

Email us at the admin@ email address.

We will send you the link to enable all of your devices for the push alerts.

All of our alert systems like news calendar, price alerts, live heatmap alerts, market scanner, etc. are all listed in Lesson 16 alert systems. Leverage all of these alert systems to always know when the forex market is moving.

Updates To Other Alert Systems

Our alert systems and documentation are all being reviewed and or upgraded.

This is a new video about audible price alerts is now available, please watch it as price alerts are underutilized and mis-used by cients:  Price Alerts Video

Also the documentation related to the live heatmap alerts has been updated, see the link below. The heatmap alerts (red dot badge system) has been deployed to three pages in the members area, and above both heatmaps.  Make sure you understand this alert/ market status system well: Heatmap Alerts System

Also our market scanner app in the members area has been revanped and streamlined, the user interface and clocks have been simplified, and an Eastern Standard Time clock has been added.

End of Alert Systems Updates

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2 – New Subscriber Welcome 

Purpose: Initial email sent to new Paypal subscribers from the administrator Admin@ email box.

Subject: Welcome to ForexEarlyWarning.com

Welcome to Forexearlywarning.com, Here are the instructions for using the trading plans: trading plan instructions. Bookmark our sitemap to stay organized and to locate most of your resources quickly. Make sure you can login and access the members area including the trading plans and The Forex Heatmap®. Continue reviewing the rest of our website and associated resources over time, like the 35 forex lessons. Let us know if you have any questions about our system or need a phone or Skype consultation by email. See the “contact us” page for our support email addresses. You can also use the “search” feature on the bottom of the homepage or blog search box to find anything on our website.

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Please watch this 10 minute video which will provide you with a complete introduction to Forexearlywarning and overview of our trading system, plus how to get support. Do you know what a profitable trade looks like? Here are some examples of strong heatmap signals and price movement for various pairs.

As a paid subscriber you are eligible to access our notification apps, which send push alerts to you to notify you when the market is moving across 8 currencies. You can get the push alerts sent to the Chrome, Firefox or Safari desktop browsers. Push alerts can also be sent to your Android or iOS mobile device by downloading our mobile app. See this link for mobile app setup instructions. If you have questions about setting up these push alerts email admin@ email address, we highly recommend these two alert systems.

3 – Multiple Issues Subscribing

Purpose: When we encounter an issue with a new subscriber that can only be solved by deleting their entry in the subscriber database.

Subject: Problem Subscribing to ForexEarlyWarning Resolved – Please Re-Subscribe

You have been experiencing difficulty subscribing to ForexEarlyWarning. Because of this, we have manually removed the erroneous entry from our database. You can try to now subscribe again as a new subscriber and everything should work fine. We are glad to have you as a part of our community of traders.

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Resources For Google Chrome Book Users

If you use a google chrome book, setting up Metatrader 4 is difficult to get web based charts. Here are some resources for setting up Metatrader 4 on your laptop or desktop computer. Metatrader 5 is not a good option or work around because it lacks the features we need for setting up the Metatrader profiles and is not available to most USA traders for good quality web based charts. Other web based charting platforms are expensive. Community Outreach: If you have better resources or know of a better way to do this let us know and we will update this document.

MT4 Workarounds for Chromebooks or people who need web-based charts. Youtube video for how to install MT4 on chromebook and enable Linux on your Chromebook. Video of How to run MT4 on a thumb drive in portable mode. Running MT4 from a flash drive. Information on Admiral Markets Website, a Non USD broker about MT4 Webtrader For Chromebook. Use Metatrader 4 MT4 on an external external hard drive.

Forexearlywarning is now on Trustpilot. 100% of our ratings are 5 stars! Read all of our organic 5-star reviews about our complete trading system. Forexearlywarning has professional market analysis tools, trend indicator setup by individual currencies, multiple live alert systems like push alerts to your phone or desktop, live signals system for 28 pairs, and trend-based trading plans. This is a complete and profitable trading system. Check out our Trustpilot Reviews on the link below.

Forexearlywarning Reviews On Trustpilot

Forexearlywarning Is On Trustpilot

If you have a cryptocurrency wallet you can purchase a one year subscription to Forexearlywarning for $240 worth of any crypto on ERC-20. If you own a quantity of Bitcoin, Ethereum, USDCoin, Binance or other cryptocurrency, we can accept payment using this method. We accept all coins listed on the Coinbase exchange. One years subscription is 240 USDC or eqivalent and on this offer there is no refunds. We will pay the transfer fee on the crypto. Contact us at our partners@ email box for payment instructions and we will get you our Coinbase wallet address. Or contact us at our partners@ email box with any questions.

Coinbase Payment Methods

In this article we will show forex traders a great Metatrader 4 setup for forex trend analysis and how to monitor 28 pairs and 8 currencies for price breakouts. We will show traders how to set up the charts by individual currency. This will provide all forex traders with the best Metatrader setup for trend trading, determining what currencies are weak or strong, and knowing what pairs have the most potential for pips.

Download Metatrader 4

Start by downloading Metatrader 4 to your laptop or desktop computer. We recommend contacting your forex broker or looking on their website for their exact instructions. Instructions for downloading MT4 might vary from broker to broker. Your broker should have downloadable Metatrader 4 versions for windows, Mac OS or Linux operating systems.

MT4 can be downloaded using several web browsers, including Internet Explorer, Google Chrome and Mozilla Firefox. Regardless of which browser you use, follow the steps on the broker website. For windows operating system you will download the controller from the broker website then open it to install Metatrader 4 on your hard drive.

Download Metatrader 4

These instructions are for MT4 setup on laptop or desktop computers. Most brokers also have App store or Google play mobile versions to setup Metatrader on your mobile device or phone.

Metatrader 4 Setup For Trend Analysis

After you download Metatrader 4 you can remove any default charts on your screen. Open up 28 charts for all pairs comprised of the 8 most liquid currencies. This would be the USD, CAD, EUR, GBP, CHF, JPY, AUD and NZD pairs. 28 pairs total. Now install some exponential moving averages based on the 5 and 12 time periods. These exponential moving averages will be used for trend analysis. Check the complete setup instructions for the forex trend indicators and your charts should now look like the one shown below:

Metatrader 4 Setup Trend Analysis

These are very simple trend indicators, but become very powerful when set up by individual currency. So next step is to group the pairs by individual currency. There should be 7 pairs in each group. For example, group all of the EUR pairs together side by side. The EUR/USD, EUR/JPY, EUR/CAD, etc. should be grouped side by side. You can also use the metatrader profiles for the individual currency setup if you like. The bottom tray on Metatrader should look like the image below for the EUR pairs. Then repeat this process for the top 8 most liquid currencies.

Metatrader 4 Setup For Trend Analysis

Why Setup Metatrader 4 Charts By Individual Currency?

In the case of the EUR pairs, so you can tell if the EUR is consistently strong or weak so you know when to trade these pairs, and in which direction. Example: If the H4 or D1 time frame is pointing down on all 7 EUR pairs listed, you know the EUR is weak and driving the movement. If the EUR pairs are mixed just go to the next currency. Since you can set up your charts this way for 8 currencies there is usually something trending up or down every week. You can learn more about the fundamental principles behind this setup for forex market analysis with parallel and inverse groups of pairs, it works and is powerful! Forex traders always say they are looking for an edge in their forex trading. Setting up your trend charts this way by individual currency will give you that edge and open up 28 pairs to your potential trade horizon, with lots more pips.

How to Analyze Individual Currencies With Metatrader 4

After Metatrader 4 is set up by individual currency. You can begin analyzing individual currencies for consistent strength or weakness, along with setting up some accurate trading plans. For this daily task you can utilize our forex market analysis spreadsheet. For example, if all of the JPY pairs are pointing up on the D1 time frames, you know that the JPY is weak. Then you can set trading plans to buy these pairs, estimate the price targets, and set price alerts for the breakouts.  When the price alerts hit you can verify any buys with The Forex Heatmap® like the example trade above.  This process works for the top 8 currencies we follow.

Metatrader Setup Trend Analysis

Metatrader 4 Setup For Price Breakouts

Now that you have your trend indicators set up for trend analysis lets setup the same charts to monitor for price breakouts in both directions on any time frame. Metatrader 4 has a price alert functionality that looks like the image below:

Metatrader 4 Setup Price Breakouts

At the bottom of the Metatrader 4 screen click on the “Alerts” tab then set price breakout alerts in either direction on any pair just above or below the current pricing, if the pair is trending. When the alert goes off you will hear an audible alert that repeats until you shut it off. Traders can also set price alerts to monitor for price reversals, and for profit targets to scale out lots or exit trades. The Metatrader 4 price alert functionality is a fantastic tool for trend traders to monitor for price breakouts, and it works great for all traders. When the price alerts hit you can look at the procedures below to verify if you have a valid entry point. You can also check our illustrated article about price breakouts for more breakout examples.

How To Enter Forex Trades With MT4

Now that you have your setup on Metatrader 4, we can review how to successfully enter trend based trades with this system. Example trade entry: A trader sets a price alert for the EUR/AUD for a resistance breakout.  Wait for the main trading session. The price alert goes off, then you must verify the buy trade entry on this pair.

Traders can use The Forex Heatmap® forex heatmap to verify their trade entry. In this case the AUD is weak and is driving the movement. You would use the smaller time frames and heatmap signals to verify the buy to enter the trends on the higher time frames, like the H4 time frame and larger.

Metatrader 4 Setup Signals

Metatrader 4 Setup Chart

This trade entry system using Metatrader 4 can be used for trend based trade entries, and for shorter term trades against the trend or on ranging pairs. This trade entry system can also be used for day trading. The system work very well for 8 currencies and 28 pairs.

Traders can also manage trade exits with MT4. If a trader sells the EUR/CHF and this pair is hitting strong support, these levels can be clearly seen on Metatrader 4 using the support and resistance cross hairs. Activate the cross hairs to see that this pair has heavy support at the 1.0700 level. This is a profit taking point on any sell trades and possible reversal point back to the upside. Since you have your charts set up by individual currency you can check all of the EUR pairs support levels quickly using the support and resistance cross hairs.

Metatrader 4 Support Resistance Levels

Metatrader 4 Setup Videos

Our website is loaded with many illustrated articles and lessons. We also have a library of 10 videos to explain how to setup Metatrader 4. This includes basic chart setup and more setups using the Metatrader “profiles”. After reviewing more information on our website and also our videos,  you will have a full professional chart and indicators setup for market analysis and entering trades for 28 pairs. Our trading system works and is profitable.

In this article we will explain to forex traders how the spread is calculated on the most liquid and commonly traded currency pairs. This will give traders a better understanding of market structure and market participants. We will also explain why the bid/ask spread varies throughout the day.

What Is The Spread

The spread is the difference between the bid price and the ask price.

Forex Spreads

Look at the example above. You can see that the spread for the EUR/USD is 1 pip, but the spread for the USD/JPY is 3 pips. To calculate the spread, subtract the bid price from the ask price, the difference is the spread. For the USD/JPY 110.52 – 110.49 = 0.03 which is 3 pips. This is the transaction cost to the trader of executing the buy or sell trade when you buy or sell the USD/JPY with this particular broker.

In recent years the spreads have been tightening on the top 8 most liquid currencies. Traders should be able to trade the top 28 pairs comprised of these 8 currencies without any problem. Due to increased liquidity and trading volumes on most forex pairs, you will now see most spreads expressed with an extra significant digit, 5 not 4. The spreads will be shown in tenths or 1/10 of a pip.

Forex Spreads Tenths

Look at the CAD/JPY bid and ask spread in the example above. The spread is expressed as 3.3 pips. 89.520 – 89.487.

Bid Price And Ask Price

When a trader conducts a trade, they always buy at the ask and sell at the bid price, like at a live auction. The bid price is the highest price that all current market participants are willing to pay for a currency pair. The ask price is the lowest price rate at which the real time are willing to accept to sell the same currency pair. The difference is the spread, and in real time these are called “spot” prices.

How The Spread Is Created

In the example above the Bank A and Bank B, etc. might not be banks. They could be anybody, like a retail forex trader with a few mini lots, a broker or other dealer, a liquidity provider, or it could be a bank too. All market participants, small or large, are side by side. The highest bid and lowest offer is what creates the spread.

An ECN broker allows all market participants, big or small to find a counterparty for their buy or sell order and trading positions. Small retail investors are trading side by side with larger institutions. No conflict of interest. Bid and Ask quotes are created by the market, not the broker. All of the retail traders and liquidity providers are in the same electronic market side by side and the spread is created by the highest bid and the lowest offer from all participants. The role of the broker is strictly an intermediary between the individual trader and all other market participants.

With an ECN the spread will vary throughout the trading day. So retail traders remember this: a market order is not the bid or ask price you see, it is the next available price. The price you get may or may not be the same as what you see when you place your buy or sell order. Traders can use limit orders if they want to specify their prices.

Fixed Versus Variable Spread

The type of spreads that you’ll see on a trading platform depends on the forex broker and how they make money. There are two types of spreads, fixed and variable or floating. Fixed spreads are usually offered by brokers that operate as a market maker or “dealing desk” model while variable spreads are offered by brokers operating a “non-dealing desk” model.

Fixed Spread – Variable Spread

The choice between fixed and variable spreads depends on your trading style, risk tolerance, and market experience. It’s crucial to understand the characteristics of each type of spread.

Example Gold Spreads

What Does The Spread Indicate

The spread on the spot forex market indicates two different things. The pair with the lowest spread is the EUR/USD. This is because the Euro and the US Dollar are the two most liquid currencies, so when combined they create a pair with the lowest spread. So the spread is an indicator of liquidity and trading volume. The lower the spread the higher the liquidity and popularity of that pair.

But spreads on the spot forex are not constant throughout the day. In the main trading session the spreads are always the lowest, and this is likely the best time to trade the forex market. Outside of the main trading session spreads will widen due to lower number of market participants. So spreads will vary based on time of day.

Forex traders who are considering getting a funded forex trading account from the5ers, FTMO, or any other top level forex funding provider, will need a trading system or strategy to qualify for the funds. In this article we will show traders a low drawdown trading strategy which will help them qualify for a funded forex account. This low drawdown trading system will work well with with the top forex account funding providers.

the5ers, FTMO Do Not Provide A Trading Strategy

the5ers and FTMO, along with the other funding providers provide live capital and funding to forex traders. Traders who have good trading skills, but are short of money to fund their own live account can use these two firms for capital. These capital and funding providers a very valuable service for forex and gold traders, however they leave the trading style or trading system entirely up to the trader.

Most forex traders are familiar with things like fundamental forex trading, news trading, and the use of technical analysis indicators. We are proposing that traders seeking funding use a much better trading system, with low drawdown, to match the funding providers drawdown parameters listed in their funding programs. This is a trend based trend based trading system with much more accurate, low drawdown trade entries. Forex funding providers like the5ers and FTMO all have drawdown limits, so a low drawdown trading system will work well at getting traders a funded forex and gold trading account.

All forex and gold trading funding providers have different leverages, payout percentages % and drawdown limits on funded accounts. When attempting to qualify for funding or trading a funded account, the funding providers have written daily and weekly drawdown rules that must be met to get account funding. The drawdown percentages vary widely, between 1% and 10%. So accurate trade entries are necessary to meet the funding providers drawdown rules.

What Is The Best Trading Strategy to Get Forex Funding?

If you are looking for a trading system, trading strategy or style to help you get third party funding for your trading account, we can offer you a great option with the Forexearlywarning trading system. Traders need to seek out and identify a profitable strategy before they seek funding, then demo trade their strategy and system. Forex traders who are interested in a trend based based trading system and trade entry confirmation will like Forexearlywarning.

The Forexearlywarning trading system is a trend based trading system. The system uses some simple trend indicators applied across multiple time frames, and we also use support and resistance levels for price breakouts and targets. We use real time indicators to assist with trade entries.

The system and strategy we use is for daytrading, or trade entries into the trend for swing trading on the H4 time frame. Our entry tool will provide trade entries into the higher time frame trends also, like the D1 or W1 trends, for longer term positions. Trade entry points with this trading system can be very low or nearly no drawdown. We have a specific set guidelines for trade entry points and timing.

Here is an example trade entry for the GBP/JPY or CAD/JPY. As you can see the JPY was consistently weak against the most liquid currencies on this trading day. Our live signal system, The Forex Heatmap® forex heatmap , pointed traders to buys on these two pairs. The movements on all of the JPY pairs were strong across the board. In one trading session, hundreds of pips were possible, with little to no drawdown.

This is what forex traders need to qualify for a funded forex trading account. They need clear, real time signaling systems and strong movement cycles. This trading system and indicators works the same way for the 8 most commonly traded currencies, and 28 pairs total. Forex traders trade popular pairs like the EUR/USD and GBP/USD. But now traders can open up their trading to many more pairs as well as gold and increase their pip totals.

The 5ers FTMO Trading Strategy

The 5ers FTMO JPY Charts

We also provide traders with the trend indicators you see in the JPY pairs image above  image. Traders can use these exponential moving averages to group pairs by individual currency, like grouping all of the JPY pairs together on one screen. This single currency analysis will help all traders find more high probability, low drawdown trades. We can also show traders many more forex trade entry examples for 28 pairs, including popular pairs like the EUR/USD and GBP/USD.

If you are a forex trader who is making comparisons between FTMO versus the5ers, or other funding providers, remember that whatever forex funding provider you decide to use, you will still need to have a great forex trading system. We believe the Forexearlywarning trading system offers the best trading system and strategies for daytrading and swing trading the forex market. Check out our great article about how to get a funded forex account with more details about the the5ers, FTMO funding programs. This article has details on how to find top level funders.

Conclusions About the5ers, FTMO trader funding programs:

We believe these forex funding providers are providing a valuable service to forex traders to give traders access to funded forex trading accounts. But none of these funding providers provide traders with a high quality, low drawdown trading system.  Forex traders need to trade accurately to qualify for a funded forex account. We believe the Forexearlywarning trading system is way ahead of most or all of the other trading systems we have seen at providing low drawdown trade entries and consistent, positive trades. The Forexearlywarning trading system should be part of any trader’s attempts to qualify for 3rd party forex funding.

There are 7 New Zealand Dollar NZD pairs that can be easily traded by forex traders. Forex traders continue to overlook NZD trading and these pairs, but they present great opportunities to make pips. These pairs include the NZD/USD, NZD/JPY, NZDCAD, NZD/CHF, EUR/NZD, GBP/NZD and AUD/NZD. Seven NZD pairs total.

New Zealand Dollar NZD Pairs Characteristics

The most popular pair that forex traders trade is the EUR/USD. Many of the New Zealand Dollar NZD pairs have characteristics that are are much better for trading than the EUR/USD. We trade 28 pairs total in the Forexearlywarning trading system, including all seven NZD pairs.

The NZD pairs offer a wide variety of characteristics, like low volatility to high volatility, and can be traded in the Asian trading session or the main trading session. From the standpoint of market trading hours, any trader in the world can trade these pairs throughout the trading week.

New Zealand Dollar NZD Pairs Volatility

The volatility characteristics of the New Zealand dollar pairs can be a great benefit to traders. Take the EUR/NZD for example. When this pair is moving in the main trading session the volatility is beneficial as this pair moves much faster than more popular pairs like the EUR/USD. This allows traders to take profits and move stops to breakeven faster. And the GBP/NZD is suitable for traders who have experience trading volatile instruments, volatile stocks or low float stocks with high volatility. Traders who are looking for volatility will love trading the GBP/NZD.

The spreads on the NZD pairs are reasonable from most forex brokers for all of the NZD pairs during the main trading session. However on some pairs like the AUD/NZD or GBP/NZD you may have to check with more than one broker as spreads on these pairs are higher. Being aware of the most of the currency pair characteristics of the pairs you are trading will open the door to many more pairs and more pip potential.

When To Trade The New Zealand Dollar NZD Pairs

The New Zealand Dollar NZD pairs can be traded during the best times to trade the forex market, during both sessions. The Asian trading session and the main forex trading session. You can check the forex news calendar and you will see that the NZD news drivers occur frequently in the Asian trading session and drive movement on these pairs. All currencies can move in the main trading session. This is an advantage over trading the EUR/USD, which only moves on the main session. Surprising but true as most traders continue to focus on just one pair.

New Zealand Dollar NZD Economic News

How To Set Up Trend Indicators for Monitoring the New Zealand Dollar NZD Pairs

Lets look at the best way to set up your trend indicators for trading the New Zealand Dollar NZD pairs. Traders can start with our free forex trend indicators, which is a system of exponential moving averages for tracking individual currencies.

New Zealand Dollar NZD Pairs Trend Indicators

New Zealand Dollar NZD Pairs Grouped Together

The next thing you would like to do is set up all 7 New Zealand Dollar NZD pairs together in a group, side by side. This makes it much easier for traders to see if the NZD is consistently weak or strong. For example if all of the pairs with the NZD as the base currency NZD/ are trending up, and all of the pairs with the NZD as the cross currency /NZD are trending down. The NZD is strong and you should be trading in that direction. This is called forex analysis using parallel and inverse pairs, and is by far the best analytical method available to forex traders.

Grouping the New Zealand Dollar NZD pairs together allows trader to see if a valid trade is possible and to check if the NZD is consistently strong or weak.

How To Enter Trades on the New Zealand Dollar NZD Pairs

Now we will present some rules for entering trades on the New Zealand Dollar NZD pairs. First, check the trends on the larger time frames like, H4, D1 and W1 on the NZD pairs. If a good trend is in place or developing on the higher time frames, then that pair is a candidate for a trade.

Then set an audible forex price alert on the smaller time frames so that you can be notified of any breakouts to intercept the next movement. When the price alerts hit check The Forex Heatmap® forex heatmap for consistent NZD strength or weakness to confirm the entry. Make sure the price target is at least 100 pips away to preserve risk to reward ratio for each trade. Along with audible price alerts, we also have other other professional forex alert systems to notify traders when the forex market is moving.

New Zealand Dollar NZD Trading Signal

New Zealand Dollar NZD Trade Entry

See the example trade above. On this trading day the EUR/NZD dropped 250 pips. Other trades like buying the NZD/USD were possible on the same day, based on the NZD strength in the market. Hundreds of pips of movement across the NZD currency pairs occurred on this day. If the EUR/NZD is in a downtrend, or if the NZD/USD is in an uptrend, even more pips are possible going forward, along with these strong intraday movements.

Most forex traders never look at trades like this due to their using technical indicators and following only one pair, the EUR/USD. If traders are able to change their thinking and start to follow groups of pairs and setting up these indicators, traders can increase pip totals substantially.

Summary and Conclusions: Forex traders should follow the New Zealand Dollar NZD pairs and trade them. These pairs are overlooked by most traders, but these pairs have great characteristics and high potential to make pips. We have provided traders with the best possible setup of indicators in this article for success trading these pairs. The methods and indicators you see in this article also work for a total of 8 currencies and 28 pairs.

In this article we will present three important forex trading guidelines to turn your trades into winners. The three guidelines: trend, current momentum, and price targets are simple to understand, and once fully understood, can be easily implemented into your forex trading strategies. We are confident that trading accuracy and confidence will increase dramatically in a matter of just a few trades with the information in this article.

Forex Trading Guideline Number 1:

All traders must identify if the pair they are trading is trending on the higher time frames, H4 and larger. If a currency pair is in an uptrend on the H4, D1 or W1 time frame then it is a good candidate for a buy or sell entry.

Forex Trading Guidelines Trending Pair

Here is an example of a currency pair that is trending on the higher time frames, in this case the pair is trending up on the D1 time frame and is a candidate for a buy. Notice that is has been trending up for several days. If you catch a pair early in the D1 trend cycle you can ride the trend until it stalls and you can collect more pips by letting the trend do the work. If a currency pair is not trending on the higher time frames and you enter the trade anyway, you are daytrading.

Here is a link to our forex trend indicators for 9 time frames and 28 pairs total. Traders can set them up one any pair you like, but we suggest setting them up by individual currency, or you can use our high powered chart setup and view multiple pairs at once with the same common currency.

Forex Trading Guideline Number 2:

When you enter a trade you must make sure the pair you are buying or selling has lots of momentum at the point of entry. On buy trades you want lots of momentum going up. On sell trades you want lots of downward momentum at the point of entry. Currency pairs only move because one currency is strong and the other is weak or both and that is the only reason. For successful forex trades you can use a strength and momentum indicator for live signals like the one below:

Forex Trading Guidelines Momentum Indicator

Forex Trading Guidelines Momentum Chart

Look at the example above. The live momentum indicator shows consistent NZD strength on all of the NZD pairs. The EUR/NZD had a nice drop with good momentum as shown on the price chart. The EUR/NZD dropped about 100 pips in one trading session. Several hundred pips of movement combined in one trading session, so this is significant. Trading forex with a premium live momentum indicator allows traders to move their stop to breakeven. Then you can check the higher time fames to see if the pair is trending for more trend based pips over the next few days, possibly longer. The above example is for the NZD pairs, however the same strategy works for 8 currencies going in two directions.

We also have a chart setup that will allow traders the ability to see the movements of all 7 pairs in any currency group. If you set up your charts using the metatrader profiles you can see all of the NZD pairs on one screen and more than likely trade several NZD pairs in the same trading session. This excellent chart setup can be used on 8 currencies with easy navigation using the hotkeys on your keyboard.

Forex Trading Guideline Number 3:

Setting price targets at critical areas of support or resistance are important for any forex trade. If you sell a pair you must know when to take all profit or at least some profit to increase your account equity, while providing you with risk free upside potential on the remaining lots.

Forex Trading Guidelines Price Target

Look at the example above. The breakout point 0f 0.7325 is clear on the D1 time frame. You can set an audible price alert at that point to monitor for a price breakout. When the alert hits you can go to the momentum indicator to verify your entry. Your price target of 0.7700 is knows and identified in the chart analysis. This is a pip potential of 375 pips, not bad at all ! A good example of why working with the higher time frames is best. This is just one example, we also have many more examples of setting price targets using the higher time frames.

Add Money Management To These Guidelines

If you use these 3 guidelines consistently you will be creating a fantastic forex trading system. So adding a few money management guidelines will be an improvement. Always trade with a stop order, then move your stop order to breakeven when you obtain a reasonable profit. We have more specific forex money management procedures to make your guidelines work better with much lower risk that other forex trading systems.

If You Only Need Three Guidelines Why Do Traders Fail?

Forex traders are consumed by and engulfed in technical indicators. Technical indicators are attached to pairs, not individual currencies, which is a terrible flaw. You are trading currencies, not indicators, so we suggest starying away from technical indicators. There are about 150 standard technical indicators and about 50 different candlestick chart formations, and none of them work at all, because they are attached to pairs, not individual currencies. Standard technical indicators like Fibonacci, RSI, envelopes, etc. take over your mindset and cause months and years of frustration. Currency pairs are two instruments and each one should be examined before trade entry. Momentum is created when one currency is strong and the other is neutral or weak.

Conclusions about our three forex trading guidelines: If currency traders move away from standard technical indicators and towards individual currency analysis, their results will improve substantially. Incorporating other things like trading with the trend, current momentum and some basic money management rules will also improve their trading results as they press forward into more profitable trading.

If you are evaluating home based business opportunities, becoming a forex trader should rank near the top as an ideal home based business. This article will explain how to get a great trading system, how to get a fully funded trading account, and how to keep your startup and ongoing costs very low.

Why Forex Trading Is A Great Home Based Business

All you need is a good computer and an internet connection. If you have a laptop this will make your trading portable. You can trade from home or remotely, and working from home is direction most people want to go these days anyway. Forex trading as a home based business will get you working from home right now.

The forex market is the best market to trade, much better than the stock or options markets. It is the largest financial market in the world. Due to the high liquidity and short daily work schedule, the forex market presents itself to home based business opportunity seekers as a great way to make money online.

Keeping Your Costs Low For Your Forex Trading Home Based Business

Any viable business would control costs and expenses. There are websites that charge thousands of dollars to teach a trader how to trade the forex market. And many of these education courses are poor. These costs can be reduced to zero, just your own time and effort, by reviewing the illustrated forex lessons and videos on the Forexearlywarning website.

Also, ongoing costs can be kept very low by using low cost service providers, like Forexearlywarning. If you combine free forex education with low cost services, your monthly costs will drop to close to zero. If you do not have the funds for a trading account, there are millions of dollars in live trading capital  available from numerous capital providers. All of this combined means that smart traders are now set and can have a little or no out of pocket cost forex trading business.

Commitment of Time To Run A Forex Trading Home Based Business

Someone who is interested in using forex trading as a home based business would need to understand how much time is needed to get the business off the ground and running.

If you are a prospective trader seeking to start a home based forex trading business, there is a commitment of time. If you started today and you have never traded any financial market, it would take you about 30 days of study to review their chosen trading system. We suggest the Forexearlywarning trading system as it is tried and true. Then you would have to start demo trading for 30-60 days, unless you had previous experience trading financial markets, then the time could be shorter.

A typical forex trading day would be for about 6 hours per day in the main trading session, the exact time of day would be based on where you live. The forex market is closed on the weekend. So trading the forex is a part time business, and you should be able to pursue other business interests simultaneously.  So if you have another side business it is possible to pursue both.

Home Based Business Forex Trading

Summary and Conclusions — Forex trading as a home based business has many unique advantages. Little to no startup cost, short hours, lots of third party capital available. All entrepreneurs should evaluate forex trading as a home based business. In many ways it is an ideal home based business. If you would like to have a home based business as a forex trader, you need to find a great trading system,  study the system well, open up a no cost demo trading account and see if you can make positive trades, then get capital for your live account if you need it.

Forexearlywarning.com is now offering a forex affiliate program for our daily trading plans and live signals. Our daily trading plans, live signals and alert system are for 28 currency pairs. Forex marketers can make residual income and payment of 25%. Our trading system is effective and is based on the trends of the forex market on the higher time frames. The Forexearlywarning trading system is a proven system and provides traders with accurate, trend based trade entries. The trading system includes our live signaling system, The Forex Heatmap®

Forex Affiliate Program

Forex marketers can boost their income and revenue with monthly residual income from our affiliate program. Forex meetup group owners, forex website owners, forex forums and online communities, forex facebook page owners and facebook marketers, and other social media markers in the retail forex trading space can also benefit with monthly income. Also, introducing brokers and IB affilliates with current affiliate income streams can diversify their income stream by marketing our trading plans and signals.

Our forex affiliate program is easy to set up. Affiliate marketers can use our existing paypal subscription page and use your own unique affiliate promotional code so we can track your referrals.

Forex Affiliate Program

Affiliate Program Terms: Forexearlywarning will pay our affiliates a 25% residual income, month after month. Payments will be via Paypal at the end of each calendar month. Affiliates just need to contact us via email and get a promotional code assigned to them for accurate accounting. Other affiliate terms are available, so contact us for other commission structures.

If you are a retail forex trading industry marketer, and you are interested in adding a trading plan and signals based forex affiliate program to your store or supermarket, contact us about our affiliate program.

Forex Affiliate Program