BigAppleForex.com Forex Signals Review

I know its been awhile since I posted due to personal family matters.

I have became so busy that both managing my Forex trading and this Forex blog has been almost impossible. For those who have taken time to write me up - Thank you and I appreciate that, it's really heart-warming to me, more so during my time of distress.

Okay, back to Forex trading...

Forex Trading

As far as I know, and its even obvious to the blinded, that Eurozone is in a big, big mess right now. Some have claimed that it's a "game" they play with never-ending system - borrow money there and cover the debt here. Rinse and repeat. Until all our pockets emptied.

Nonetheless, the Forex market has been a disasters to many - or so I heard from fellow traders - in the past 2 and half months. Trading has been a mess for everybody and many noobs have blown their accounts away.

I've to left everything out of my life back in May, including Forex trading, but I have to kept my money coming in all the while. I didn't thought it were possible, despite having positively reviewed on BigAppleForex.com months ago. Yes, I made money with them and no, I wasn't 100% sure that they could still make me money when I am not monitoring whatever they are trading.

They proved me wrong, though.

Forex Signal Provider Review - BigAppleForex.com

I have been with BigAppleForex.com since November last year, and in truth, they have been making me good and automated money. I'm a "pro" trader myself and sometimes when they got into positions that went against my analysis I'd managed them manually... Exiting early or moving stops. Yes, they have made me a few hundred pips every month on average - with my own intervention. But then again, if I didn't interfere with anything, the results would be more or less the same when I checked out their performance report.

It's just me that never learn to let go of Forex trading completely, until I'm forced to.

Then, from around May to July 25th 2012, I have to admit that I only managed to log into the account 4 or 5 times to check out if everything is okay. Fast forward 80 days, these guys have once again proven themselves, with roughly 1k pips in profits, and I'm trading 1.0 standard lot, which means over $10,000 USD, without me monitoring!

Yes, I'm happy with the gains, but I'll try to spell out both their strengths and weakness here in as much neutral grounds as I could.

BigAppleForex.com Strengths

• Genuine reporting and honest Forex signals results (If you're a member, they'll let you in on an investor password)
• Consistent results - I have seen the making money in different market conditions, and not many experts could have done the same
• Quick delivery - Zero lag is plainly bull crap, but they have may be a second lag or so, much better than any other I have seen
• Customer support - These guys reply to emails, and that's enough for me. I have tried other scam Forex signals provider who took 1 week to reply to a simple technical query.

And now the not-so-good about them -

BigAppleForex.comWeaknesses

• Max open positions - 4. I'm trading 1 standard lot with pretty huge capital at 100 leverage. For me it's good enough but for traders with small accounts (under $10k), its best to trade 0.2 or something.
• Drawdown - There's time when there's a 200 pips combined drawdown, and new traders tend to over leveraged their accounts, so don't go trading 1 standard lot size like me if you have less than $10k.

 Okay, that's the update I have promised months ago and I hope it helped.

Forex Signals

I always heard people crying out loud when it comes to failure in Forex trading...

"I have no time to trade!"

"I would start trading once I quit my job!"

"I got carried away with more important things in life..."

Yada, yada, yada.

In our previous posts we have talked about developing your own Forex strategies and getting them coded into full-fledged Forex software EA with as little as $50. Some of you have told me that you didn't even have your profitable trading strategies and didn't even know where to start. 

For one, do not repeat to yourself that you do not have the time or luxury to trade. If you aren't determined enough to find time do it then don't expect a change in your life. You can't change? Then be prepared to stay ordinary. And ordinary people are poor. Period.

Now, here's the deal. What if I tell you that you do not need to find your profitable Forex trading systems in order to be profitable in trading Forex? 

And it gets better, you do not even need to know much about advanced Forex in order to be profitable? Sounds too good to be true? Think again.

Introducing... Forex Signals

Yes, I know. Forex trading signals SMS and emails were never reliable and they almost always certainly come late... When the price has already moved.

No, not that of course. The age of Forex signals SMS has long gone and here comes the new era of automated Forex signals. I am talking about Forex signals that you received in an instant - directly to your MT4 trading platform without a slightest lag!

There are some top professional Forex signals services / providers out there but beware of scam Forex signals providers too. 

The Best Forex Signals Provider

Choosing the top Forex signals providers is undoubtedly a daunting task. You couldn't really know until you have tried all of them out. Some providers are profitable for a month and then diving the next. Can we really afford all the money, time and risks to pick one up? 

Not really. At least not for all of us. At least I believed I have tried them all. There are some great ones, many breakeven ones, and more than half of them sucks big time - their Forex signals are totally baseless and lose money almost every time. 

You are fortunate to be my readers here because I have singled out some of the best (and worst) Forex signals services and providers for you:

BigAppleForex.com Review | Scam

Not scam. Top Forex signal provider in my list. Tested for 6 months, because they have been profitable for that long, really. BigAppleForex.com Automated Forex Signals is located the top of my list because I'm extremely please with their customer service and response.

No I'm not the type to really bother the support every time they make a losing trade. But they did response professional and timely when I needed it. Besides, they are making some 600+ pips / month on average for me so I really can't complain. 

Results posted are in accordance to the trade I receive with some slight lags (2 pips+) occasionally. I contacted the support and it seems like its the problem with my broker (MIGBank) instead.

Overall I rate them 4.5 / 5. Would have got a 5 if they are explaining and teaching to me every trade they make so that I could learn along the process. But to be honest, for the rate they charged and Forex signals performance they delivered. I am feeling its already worth every cent of subscription. I'm still in subscription with them, so I'll probably keep you guys updated if there's any news. 

There's a few more quality signal services that I'd like to recommend but I'll leave them on the other posts in future. I'm feeling a bit lazy to share those that have scammed me because I believe its not constructive even if they deserve punishments. So let me ask you this:

Would you love to see more reviews on great Forex signal services or more reviews on Forex signals scams...? Let me know!

Forex Strategies: Support and Resistance Secrets

What is Support and Resistance?

Along with Fibonacci, Trend Lines, MACD, Moving Averages, Support and Resistance strategies in Forex trading is but one of the most common Forex strategies employed by newbie and professional traders alike.

Having dealt with numerous Forex experts throughout the months of trading, it appears to me that different traders would have a slightly different concept on how support and resistance is identified.

Nonetheless, the basics should be the same:

The picture above depicts an uptrend zig-zag pattern of the market. You must understand that in Forex market, price hardly moves on a one-directional pattern. Assuming that the price is the endurance of a normal runner - he ran and took a breathe when exhausted, and then continued. Thus, the cycle of the zig-zag patterns repeat. 
 
 To determine the support and resistance of the market in an uptrend (and vice-versa for downtrend):
- When price moved up, and retrace, the "high" point of the market then becomes a resistance
- When the retracement is completed and the market gathered enough momentum to move up again, the "low" point then became the support
- Resistance is always on the high side of the trend, and
- Support is always on the low side of the trend. 

The Forex Trading Strategies Secrets of Support and Resistance

One of the secrets of apply Support and Resistance in your Forex trading is that Support and Resistance is - in contrast to common beliefs - being developed in "Zones". These zones may be anywhere from 5 to 20 pips clusters depending on the previous statistics. 

Many Forex traders failed to identify this fact and always attempt to pick pinpoint entries or exit levels. As a result, many of them have missed a lot of opportunities and risked their capital without fully understand the market. 

The next time when you are about to place an entry or a stoploss on a support and resistance level... Bear in mind that you'll need to include additional buffers. Don't be afraid to enter the market sooner, or set your stoplosses further away. It could mean a heck lot of difference to your balance sheet at the end of the day! 

Support and Resistance Secret #2

Support and Resistance are meant to be tested, and ultimately broken. When a support or resistance is broken, wait for the price to retrace a little and enter your position from there. Set your TP to the next corresponding support or resistance level.


Yup, that's the common trading mentality and it has been successful for me thus far. But what if there's a fake break? ...Like the on in that chart below:

The support is broken but price closes above the then-resistance level... What's your take? 


Some traders took their losses and moved on. Others won't accept the fact and adopted the wait-and-see approach. In this case, cutting your losses would be a wise thing to do, because you'd want to minimize your risk as much as possible.


But then? What's left after that? 


You see, when there's a fake break (proven when the price closed above your support and resistance zone, there's a good chance the market will move in a reverse direction... And that's where many Forex traders failed to take advantage of... 


Reverse your entry! Set your TP on the next resistance level and your SL on the low of the "fake break".


I have adopted Support and Resistance as one of my few regular Forex strategies and they have proven to be extremely effective. I hope you'll find my trading secrets as beneficial as they were (are) to me. If you found a profitable Forex trading system based on support and resistance and would like to automate it, don't forget to check out some of the tips in my Forex Software post. Happy trading!

Forex Software

Forex Software For Automated Forex Trading

There's no way anyone could trade 24/7 throughout the trading week. If you are the type who trade based on longer term (keeping trades on for days or weeks and beyond), then you probably won't spend much time in front of your trading screen on a daily basis.

Then again, if you happen to be day trading and waiting for your perfect entry in the Forex market is a problem. Meet Expert Advisor - Forex software that are programmed to do what you want them to do so that you won't need to be stuck with your trading desk...

The Benefits of Automated Forex Trading

Errr, how cool is that anyway? Train a robot to execute what you'd want to do - i.e. teach them your Forex trading strategies and they will carry it out without complaints, without fear, without greed and all sort of emotions. I'm gonna ask this again - how cool is that?

Experienced Forex traders would all agree that Forex trading can be extremely ruthless. On a winning streak? Greed strikes and you'd want moreeeeeee. Losing a couple of trades by now? Man, your fingers are shivering when you are pondering if you should be click that blue buy button... Oh, wait, issit the red sell button now? OMG! I'm late! It should have been a Buy, let's short it now!

Dang!

Another loser.


The above illustrations sound familiar to you but you're not alone. It happens to ALL of us. Forex trading is a bitch. Having said that, Forex software should be the "Holy Grail" of the Forex trading, correct? When MA1 crosses over to MA2it is a buy, and vice-versa. Oh, let's not forget to take profit when it reaches +50 pips... And SL automagically hit at, say 40 pips. Mmm, smart money management, eh?

Oh yeah, you have now found your money tree and da golden goose... Now what?

 How To Get Your Expert Advisor Software - Quick And Easy

No joke, pal, but don't get overly excited in this. First off, many of us do not know programming. We don't even know any other keyboard shortcuts other than Copy, Paste and Cut. 

Does that means the end of the world? Nope. You have heard that experts are spending millions of dollars to build a super EA that makes them money day after day, correct?

The truth is, you can hire a programmer on oDesk to build your own EA with limited budgets. Depending on the complexity of your Forex trading strategy, an full fledged EA - that comes with money management and a myriad of advanced features can cost anywhere from $200 to $1000.

If you only want a simple MA crossover systems, then its gonna be something like $20 to $50.
 I did a couple of projects with some oDesk outsourcers and the results have been great. I never imagined I could automate my trading systems with to such a level and the EA only cost me like $250.

... And I made over $4000 with that EA in 3 months, so its really a pretty good investment. I hope my blog post has helped clear your doubts about Forex software and led you to a simple and inexpensive way to materialize your Forex strategies. Good luck!

Forex Trading Blog

Welcome to my Forex trading blog! I've been trading Forex on a demo account for some time now and I've literally double my profits within a month...! I know, I know its all fake money so no one cares right?

I'm planning to move on to the trading with my live account soon and I hope the results will be at least as good. I have been lurking around some of the forums and people already tell me that I can't replicate the success (or luck) of my Forex demo account :(

Why do people have to be that negative anyway?

I've been trading hard for that matters!

Nonetheless, I've been trading and making money based on my trades with GBP/JPY mainly. Many people are favoring GBP/USD and EUR/USD but I have no experienced with them, yet... Let's see!

I'm wondering what Forex strategies are you guys using? I'm trading based on Fibonacci and Moving Averages. Do share with me about your own Forex strategies okay? Let's be successful in Forex trading together :)

Forex Trading

For those who haven't heard of, or wanting to join but never had a chance, Forex trading is but the buying and selling of currencies (duh!). It used to be that only top bankers are able to access trading of currencies, but modern technology has somewhat allowed us to trade Forex as individual investors.

Aside from the US, many countries are offering pretty reasonable LEVERAGE, which means if you are on 1:100 you can basically earn $10 per pip... Whereby a pip is the 4th decimal in 0.0001. Yup, that's how regular Joes made overnight money with Forex trading. Then again, your capital will be burnt if you ain't careful. So... Be careful when trading.

You can trade Forex 24/7, by the way, Monday to a few hours into Saturday depending on where you live. Anyone can setup a Forex account with online brokers. Some of the better ones are AVAFX, MIGBank, and FXCM.

Some of the Forex brokers could be very scam and hold your money, like HotForex.com. I personally never had experience with them but from what I heard from my colleagues, they have been unfairly scammed by HotForex. So, whichever Forex brokers you choose, it's best to do your research and test their customer support before hand.

I'm currently switching to AVAFX live account and will update here if there's anything good or bad about them! Let's share your thoughts on Forex trading!