Forex Income Engine 2.0 - Forex Course from Bill Poulos
Forex Income Engine 2.0 is a day trading course from Bill Poulos that provides you with 3 separate intraday trading methods
. These methods can be used in any time frame so are therefore ideal for day traders, or people who only have a limited amount of time to trade every day.
I was lucky enough to receive a review copy of the Forex Income Engine 2.0 course prior to it's official launch so let me give you my full review of this product:
Forex Income Engine 2.0 Course Contents
The course itself is a physical product that is delivered directly to your door. It consists of 7 CD-ROMs, full colour reference manuals in a 3-ring binder, trading blueprints that summarise each of the 3 trading methods and a quick start guide to get you up and running.
The 7 CD-ROMs are as follows:
- Bonus Module Forex And Trading Basics (51 minutes)
- Module 1 Background And Overview (39 minutes)
- Module 2 Ignition Method (98 minutes)
- Module 3 Overdrive Method (62 minutes)
- Module 4 Spring Method (67 minutes)
- Module 5 Forex Brokers, Charting Software And Trading Platforms (85 minutes)
- Module 6 Bringing It All Together (46 minutes)
Trading Method 1 Ignition Method
The Ignition Method is a simple trading method that targets short-term continuation trends. Trades typically last between 2 and 6 bars and the profit objective can be anywhere between 10 and 50 pips, depending on the time frame you are trading and the set-up conditions of the trade.
This method, just like the two methods below, employs a two-part exit strategy which helps you to maximise your profits, whilst using a strict stop loss policy to minimize your losses.
Trading Method 2 Overdrive Method
The Overdrive Method is my favourite method because it's gets you into a trade near the beginning of some of the strongest trends that occur throughout the day. Profit objectives are in the region of 25-100 pips (depending on which time frame you use) and I have to say that most of the time these objectives are fulfilled.
I've been testing this method out on various time frames from 5 minutes up to 30 minutes and my overall success rate is extremely high, particularly on the 15 minute and 30 minute charts where the trends are a lot stronger.
Trading Method 3 Spring Method
The final method included in the Forex Income Engine 2.0 course is the Spring Method. This method looks for trend reversals and typical profit targets are again between 25 and 100 pips.
The problem with this method is that you don't tend to get as many set-ups as the previous two methods. However from the limited amount of back-testing I've done on this method, it does nevertheless appear to generate some decent profits when set-ups do occur.
I don't personally think I will be using this method as much as the previous two methods, but it's certainly a set-up that you need to keep your eye on because as Bill points out in his course, when a Spring Method trend reversal is in progress, you obviously don't want to be trading either of the other trend-following methods because they will usually fail.
As I've already said, these specific reversal patterns do not occur that often so most of the time you can concentrate on trading the Ignition Method and the Overdrive Method, which is what I've been doing.
Additional Modules
One thing I like about the
Forex Income Engine 2.0 course is that as well as the 3 profitable trading methods, there are also modules covering risk management and discipline, which are two crucial elements of successful forex trading. Plus if you are a relatively inexperienced trader, there is also a bonus module that will teach you everything you need to know about forex trading. So this course really does cater for all traders, regardless of their experience.
Learning The Methods
The methods themselves are relatively straight forward. They all use the same 4 technical indicators and these indicators are commonly found in any charting platform.
Each method is explained in great detail and is demonstrated numerous times using lots of different examples of live trades. However I personally had to watch each video about four or five times before I became fully familiar with the intricacies of each method. It's the little things like learning where to place your stops, and where to move your stops as trades move in your favour that take the most time to learn.
Read Full Review Here:
==>
Forex Income Engine 2.0 Full ReviewForex Income Engine 2.0 - Forex Course from Bill Poulos
By: Rob Trader
Can I Find Someone By Using A Search Engine The Power Of The Search Engines Take pleasure in Cheap Vacations with Flight and Travel Savings Save Money on Your Next Car Hire – by Car Hire Comparison UK Los Mejores Cultivos En Farmville Para Mas Puntos Y Subir Niveles Fácilmente Brief History of Motorcycles in the Movies Affordable Top-Level Legal Services Just for You Affordable Top-Level Legal Services World of Warcraft Maps - The Quick Road To Success SEO Tips – How to Increase Your Search Engine Rankings How to increase your search engine reputation Internet Marketing Tips – How to Get Positive Ratings From Search Engines Financing a Used Car