GBPUSD Crossover Forex Chart Jan 16

Another great example of the MMA Crossover method working quite nicely. We see that price falls below the rainbows for the first time around 19:00 GMT and a few hours later goes back above it.

When the market opened again, price started to drift downwards again and for the final time before another superb move.

It’s almost incredible how much money can be made in forex. You see if you had just traded with the trend, you could have caught over 900 pips in 2 days!!! 900 Pips times whatever your lot size on the trade, 1 Lot = $9000.  Let’s discuss what could have got us into and/or kept us out of this trade.

Forex Chart EURJPY January 19, 2009

Today I was looking at EURJPY 30 Minute chart in Meta Trader.  I always tend to keep these 30min charts open but look at 2 Minute charts for exact entry.

The Rainbow MMA Crossover system has you focus on 5Minute charts, but on higher time frames, the signal is much more accurate.  Here on January 19, EURJPY ended its corrective up move and began to drift downwards.  Once the yellow rainbows flipped over the red, the trend changed directions and resulted in a 400 pip move downward.

Biggest Moving Currency Pairs in Forex

Knowing how much a Forex Currency Pair can move in a particular day is a great way to make more pips. A while back I began to wonder which pairs in Forex move the most in a day. So, I researched the topic and came up with a few different things that tell you how to find the biggest movers in Forex. If you get a spread over 5 pips, for any pair, then you really want to consider if that’s worthwhile if you’re day trading, swing trading, or scalping the spread will matter. The Bank of Japan has the greatest buying and selling power of all central banks in the world and has a great interest in seeing Read more

My Final Forex Killer Review

Well, it’s not much of a review, rather than a final comment on why this software really isn’t worth your time.  Like I’ve said many times, Forex Killer works just fine, but there are other things out there to help you trade that are much more worth your time and in some instances free of cost to you.

I decided to make this post because I still see a large portion of my visitors searching for Forex Killer in some way shape or form.  Most people ask, Is Forex Killer a Scam?  Well, I do believe Forex Killer does exactly what it says it does.  But perhaps it shifts focus off of a trader’s inherent responsibility to actually learn how to trade, with promises to make you rich simply and without stress.  I’ve come to appreciate a healthy amount of stress while trading, careful to not get too comfortable in any one method, following any one indicator, or any one signal provider. The market is always changing, evolving perhaps, adapting definitely, so what works one day may not work the next.

While it’s not necessary for a forex trader to be “aggressive” in his trading style, I believe just trading with Forex Killer in one’s system is not proactive enough to make “a killing” like the software promises.  The whole idea of cutting and pasting the last X amount of closing prices then calculating which way the trend is can easily be found in a number of different indicators and methods.  Seeing recently what TopGun Software can compute and graphically present, for instance, their one of a kind FX Multimap can instantly show you the strength of a pair or an individual currency vs all other currencies.  Flips of this Multimap from red to green usually indicator a change of direction or resumption of a previous upward trend.  Either way, weakness is disappearing and strength is continuing and this is shown to you in an instant and you did nothing except add this indicator to your chart. Another great thing about Topgun is the recent Narrow Range Breakout Script that intuitively adds lines above and below the levels of important ranges.  Used in concert with flips of FX MultiMaps from green to red or red to green, a successful trade becomes all the more likely.  Forex Killer could NEVER give you such amazingly simple indications of when to enter a trade.  Exiting a trade is just as simple if you just add a trailing chandelier stop.  It’s hard to do much of anything with Forex Killer except identify how likely a trade is to go up, but if you took any sort of Forex education, you’d probably hear at some point that you ought not trade on what you think “might” happen, rather, trade based on what you see is happening.  TopGun has scores of other indicators I am just learning about, so I’ll keep you updated on this software of the next few months.

The only downside to TopGun Software is that it costs approximately $250 per month to pay for E-Signal feeds and the software itself (free if you sign up for FXCM under TopGun as an Introducing Broker Client).

That is just one big “for instance” when looking for alternatives to programs such as FOREX KILLER.  Not much else to say except there is undoubtedly many things better than Forex Killer in the world today.

Narrow Range Script in TopGun Software

The Best Forex Indicator Yet?

I recently came across another discussion about a new feature of Top Gun Software.  Over the past few months I’ve come accross a few people over at Forex Forums who swear by this software,but until now, I haven’t seen something about it that warrants me purchasing it once and for all.  This new feature they have called the Narrow Range Breakout Script. Supposedly there are special bars that Top Gun Software detects and draws these parallel lines on your charts where price begins to range.

You can easily do this yourself, however, to have a script draw these lines for you really takes out the guesswork involved with identifying ranges, channels, etc.   On the above example,TGS detects a narrow range and whoever showed this example must have entered a short right below the lower channel (bottom purple line) and rides a 60pip or more move down! I’ve seen a few examples of this and am really salivating over how simple Top Gun has made forex trading.

I really am looking forward to trying out TopGunSoftware as soon as possible, I keep reading great things about the narrow range breakout script and many other scripts over at Forex Forums’ Software Indicators section.   Anyone else have the ability to comment on TGS or the breakout script?

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