Thursday, December 11, 2008

Use Forex Trading Systems and Triple Header Confirmations to Explode Your Currency Trading Profits

Most people investing in the Forex markets, if not everybody wants or needs to increase there trading profits. The goods news is that I am going to tell you how to do it with very little additional work required on your part. The key to exploding your profits, I am not talking about just a little, but significantly increasing them in a very short period is a technique I call, "Triple Header Confirmations." Since most traders already have at least one Forex trading system, this is we will focus most of our attention.

If you already have a currency software trading system more than likely it is some type of automated trading system that makes periodic trade recommendations for a particular currency. What if I told you, with very little work you could increase the percentage of the trading recommendations being correct from its present average to a significantly higher percentage.

Your present systems winning percentage will vary based on what system you are presently utilizing. With the Triple Header Confirmation technique your winning percentage will jump to somewhere in the neighborhood of 72%. You know what being correct in the FX markets 72% of the time buys you and takes you? Anything you want to own and anywhere you want to go is the answer!

Triple header confirmations is a very simple concept to understand and even easier to implement. Essentially, it boils down to confirming the trading recommendations you're receiving from your present Forex trading system with another Forex trading system that is examining the market using different criteria than your present system is using.

There are three basic formats these systems come in, a trend based system, a signal based system and a formula based system. The first step is to determine what type of system you presently have and acquire a different type of system. The second step is to turn off the automated trading functions in all of the systems, because we are not trading until we have three confirmations for the same trading recommendation.

The third step is rather obvious, when ever you receive a recommendation from either system, then examine the other system to see if it is making the same recommendation. Remember, these systems are using different criteria for making a recommendation. If we receive the same trading signal from two software systems based on different mathematical algorithms this is a very strong trading opportunity.

Now we have a double confirmation, which is a killer money maker. But, I don't want you just to be rich, but stinking rich. If that is OK with you? I thought it was! That is why we will also look for a third confirmation, which if and when received it is time to mortgage your house to enter into this trade. It is not that strong, but if defiantly is huge. What you do now is check your RSS financial feed from Reuters, BBC or CNN looking for a JUST breaking news story pertaining to the currency the Forex software systems are making the recommendation on.

It does not happen often, only once or twice a week. Yes, it takes patience. Yes, there is a lot of down time and boring activity involved trying to get the Triple Header Confirmation. Yes, there are quite a few disappointments when you get a second confirmation, but can't get the third one. Yes, you must be extremely disciplined and remain focused.

But, when you get the Triple Header Confirmation for the first time and see the profits start rolling in when from your first trade, you will then understand the pain was worth the gain. There you have it, a tried and true procedure to explode your trading profits using your present Forex trading system. After a few weeks of trading, you too will move to a cash crunching currency trading machine. And be smiling all the way to the bank.

We have researched, tested and reviewed 100's of Forex Training Courses, Software Systems and Brokerage Firms. We kept the best and eliminated the rest for you to examine at TOP RATED FOREX PRODUCT REVIEWS.

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William R. Alheim, Jr., CPA, MA

Article Source: http://EzineArticles.com/?expert=William_Alheim_Jr

1 comments:

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