X Scalper Review
Therefore, let's give it a shot and get big bucks! Last but not least don't despair because the Internet offers plenty of opportunities that will train you to become a good trader. Just be diligent enough to use them. Don't despair because the internet offers plenty of opportunities that will train you to become one of the successful investor's.
An acquaintance asked my opinion about a trading venture the other day. A friend had told him about FOREX trading and was going to send him details of a system guaranteed to make money.
In due course, he forwarded the system description to me and called enthusiastically seeking my feedback.
It was a trend following system with signals provided by cross over moving averages using 5 minute time periods. There were various filters, including ADX, stochastics, long term moving averages, and bollinger bands. Everything but the kitchen sink!
There was no clear trade management strategy, and no exit plan.
I asked my friend what his expectations were. He said he has put just $1,000 into a TRADING ACCOUNT, so does not expect to start taking money out straight away. But if he can double up his capital each month, he expects to be able to start drawing a good income after about 6 months.
I asked him if he understood the system. He said he had no prior idea that all these technical indicators existed and could be used to predict the market. He did not understand the mathematics behind them, but had been assured there is no need to. All he needed to do is use them.
About the Author
If you are a longer X Scalper Review term trader, you want to be in a trend (long or short). If one glance at the chart does not tell you there is a trend, stick to your day job. Trends tend to move in a series of waves, like an incoming tide. Each wave pushes further in the main trend direction, before pulling back a bit to gather up for another push. The best time to hop on a trend is during one of these pull backs.