Free Currency Meter – 7 Best Ways to Profit

Posted on 11. Mar, 2010 by Jakob in How To, Random Noise

Tech tipsComputer Tricks

Henry Liu is the creator of a free currency meter. I have written about this a couple of times before, as I really like this tool, and apply it when I trade. Apparently Henry Liu has received a lot of questions about how to utilize the currency meter, so now he has created a short video where he shows you 7 different ways, in which you can use the currency meter, in order to optimize your trading. As Henry is into news trading, the first idea is to use it right after a news release, so you can trade the strongest currency against the weakest. The second idea is to use it, in order to identify the market trend, which you can do by a single look at the currency meter, rather than going through all the different charts. The third idea is to identify the risk aversion sentiment, which is shown by a strong USD and strong JPY, and then trade based on a strong risk aversion. The fourth idea is the exact opposite of identifying risk aversion, namely to identify risk appetite sentiment. Next off Henry shows you how you can use the currency meter to refine order entries, by not entering trades in pairs which shows the max. or min. due to the likelihood of a reversal. The sixth idea it to use the currency meter in order to identify pullbacks. This is really smart, and something I have never thought about before. Finally Henry uses the currency meter in order to identify a reversal. I have just covered the main points here. You should go and check out the video and get all the details here.

I specially liked the idea of using the currency meter in order to spot the end of a retracement after news releases. Some traders tend to use technical analysis such as fibonacci retracement, support and resistance levels, etc. in order to spot the end of a retracement. In my opinion this is useless. What matters right after news releases is price action, and I can really see a potential in using the currency meter here. I will definitely apply this to my news trading strategies in the future.

Related posts:

  1. Free Currency Meter
  2. Currency Meter 2.0 from Henry Liu
  3. Free Currency Meter From Huskins
  4. Profiting from Risk Aversion
  5. 14 Cool Forex Freebies you should Know About

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2 Responses to “Free Currency Meter – 7 Best Ways to Profit”

  1. toner cartridges

    13. Mar, 2010

    Hi… thanks a lot…. it’s free. Just one suggestion… why don’t you try to include 26-28 pairs instead of 19 pairs currently as being used by Tom in his Fx4Caster…

  2. Tom Yeomans Fan

    25. Jun, 2010

    Henry Liu is a joke. He cannot include 26-28 pairs because he does not know how to change the code in his own software that he “Created”. Why? Because he stole his Currency Meter from Tom Yeomans, everyone knows this. Why in the world would Henry Liu keep lying year after year and continue to claim that he developed this meter? I don’t know. It’s really weird if you ask me because he is not selling anything is he? So his self esteem is so low that he needs to keep lying so that random annonymous people on the internet say “Wow Henry, You are so Awesome and smart to invent the Currency Strength Meter. Henry Liu is like former U.S. Vice President Al Gore when he said he “Invented the Internet”.

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