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 Pro Indicators Review — DAY 1

DAY 1 —- Last night I purchased ForexProIndicators.com’s Forex Pro Indicators Software. The 14-Day Trial is only $25, a very small investment for a good amount of time to try out their indicators software. Purportedly, Forex Pro Indicators will indicate when it is best to long or short GBP/USD on a regular basis at a particular time.

This first day I decided not to trade, just to see how the indicator would work. Boy was this a mistake. If I had followed the indicators advice, I would have made over 150 pips today. Today is special, the Fed cut rates by more than expected and the GBP/USD spiked sharply, but even without that spike, the indicator would have made me 50 pips. Hopefully the indicator will do the same tomorrow and steer everyone who uses it toward big bucks.

As you can see from the chart, the indicator tells you to either enter long if the price goes up to 1.9947 and sell if it goes down to 1.9876. Clearly, within an hour the price reaches 1.9947 and I would have entered long into GBP/USD. Momentarily (for a few hours) the price goes down a little bit, we see some resistance, but slowly but surely, the price rises and would have seen a few dozen pips profit at EXIT POINT 1. After the Fed cut the Interest Rate, we see a huge spike in the market. Now, ForexProIndicator’s website indicates they only made 30 pips on September 18, 2007. However, if you stayed long yesterday and liquidated your position at or around EXIT POINT 2, you made hundreds of pips.

Based on one day of trying out Forex Pro Indicator, it seems like a really sound investment. If I were using just 3 lots yesterday, I could have made over a thousand dollars profit, but I foolishly stayed away just to test the system out: such is life in Forex.