TradeProfits

Free Video Course – Informed Trades

Posted on 17. Jan, 2011 by Jakob.

In the last post I showed you where you can go to grab a lot of free indicators for MetaTrader 4. However, indicators alone are not enough if you truly want to learn how to trade the forex market in a profitable manner. There are a lot of commercial products and services out there, some good and others really bad. However, over at InformedTrades, you can go through a detailed video course, all for free. I am fairly sure you will find something useful, so go over and check it out.

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ForexMentorPro – Review

Posted on 09. Jun, 2010 by Jakob.

Some time ago I wrote a preview of Dean Saunders and Marc Walton´s new service ForexMentorPro (Read it here). As most of you probably know, I have tried pretty much all of Dean Saunders trading systems and strategies. There is pretty much only one thing which I dislike and that is his use of hyped landing pages. Besides from that I think Dean has some pretty good trading systems and I like his way of simplifying things. ForexMentorPro is different from his earlier releases, in that this is more of a service where you get more education rather than a specific trading strategy. However, this is not a signal service as you do not get exact recommendations on where to enter and exit, but more a guidance to profitable trades with a rather specific explanation of how to approach the trade. Let’s take a look on the details of ForexMentorPro and what you actually get, from being a member. When you log in, you are basically taken to a blog where you have access to the following sections:  Read more... (1174 words, estimated 4:42 mins reading time)

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Daily Lesson # 4

Posted on 09. Mar, 2010 by Jakob.

Take a look at the GBP/USD 4-hour timeframe chart here.

Although the pair has been consolidating lately with a small retracement, the longer term timeframe is still bearish. Now since March 1st, the pair has been forming a triangle pattern, and yesterday we finally had a real break out. Now let’s zoom in a bit; take a look at the same pair here on the 1-hour timeframe.  Read more... (267 words, 2 images, estimated 1:04 mins reading time)

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Daily Lesson # 3

Posted on 27. Feb, 2010 by Jakob.

Click this picture to see a chart of the USD/JPY pair (Weekly timeframe).

First of all we can clearly see that this pair is in a downtrend, and since November 22nd has started to form a triangle pattern which is identified by the two trend lines. This wedge-shaped pattern is known to produce strong breakouts and this is exactly what happened here on February 25th. First of all, the most important part here, is that we want to trade in the direction of the trend, unless there have been fundamental news which justifies a change in the trend.  Read more... (331 words, 3 images, estimated 1:19 mins reading time)

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