Free Trading Software
UPDATED again August 1st 2010 due to developing a 100% mechanical system that works day in day out
Well here we are again with a new update, hopefully the last because I don’t think I can improve much on the FREE forex trading advice I am now producing on this website.
Years of hard work studying charts , online research and making trades have brought me to the simplest trading method imaginable. Believe me I have tried almost everything. Live trading rooms and schools are great and I still stand by my recommendations to try one, they do work and the guys in the fx500club are particularly brilliant.
However if you do one thing other than joining the fx500club you should learn everything you can about candlestick analysis, price action and then learn to spot and trade H1 reversals and 5 minute lower highs and higher lows between 6am and 9am GMT. It really is the holy grail of forex trading. What is more you can learn how here on this website and it is TOTALLY FREE.
Just keep checking out my most recent posts, the ultimate objective for me is to provide the simplest mechanical way to trade. I think I am there now, all I can do is build and tweak the H1 reversal method. Watch this space.
Here is all the stuff that you need to get started trading on a free demo account.
Download the free trading station software here.
Install the software on your home computer. This will then connect you to a live datafeed that is connected to a forex broker to enable you to trade in real time.
I have included a video to show you how to get your metatrader trading terminal up and running ready for you to trade a demo account. You can skip the first half of the video explaining where to download the trading software from because I provided you with the free download here Download the free trading station software here. fxpro demo station is better because it doesn’t need renewing every month.
Once installed then you will want to open a chart and add the most important indicators, I have created a template with what I consider to be the best technical indicators to aid your trading.
click here to download the template
Then with your charts open right click thr chart, halfway down you will see the word template, click load template and find the template called “1-professional-moving-average-template.tpl” from where you downloaded it to, normally your desktop.
You should then see a black chart with price candle and a selection of wavy lines in salmon, red, pale blue and royal blue, these are moving averages and are widely used by home traders and professional city traders alike. Below is an image of what your charts should look like after applying the template.
The salmon pink moving average is the 20 ema – exponetial moving average
The pale blue ma is the 50 sma – simple moving average
the red ma is the 20 ema from the higher timeframe, e.g. the red on the hourly is 4 x 20 = 80 ema which is the 20 ema on the h4 chart.
the dark blue ma is the 50 sma from the higher timeframe, 50 x 4 = 200, the 200 sma on the h1 tf is the 50 sma on the h4 timeframe.
This is done so that by just looking at your trading timeframe you can see what is happening to the moving averages on your trading timeframe and also on the higher timeframe.
I cannot teach you to trade these charts here, you will need to join the fx500club live trading room or some other club that uses price action with moving averages to trade with.
Moving averages are just dynamic support and resistance line, you can use them to trade off for entries and trade to them as profit targets.
Everything you need to get you started can probably be found on youtube, it is a brilliant resource for the newbie trader, however be very careful of people advertising their services to teach you to trade on there. There are many scams, this is why I have provided my own free resource to help you avoid the pitfalls I fell into.
I post this stuff because it helps me learn. Checkout the links below if you want to learn to trade forex too. Strats thread is free so make the most of it. Anders Baard Larsen is a brilliant trader and a lovely guy. The fx500club is also filled with a great bunch of trader teachers. Zulutrade is proving to be a useful place to use as well. Checkout all the links below.
Strats free guide to Stress Free Trading the very best free place to learn to trade forex
Click here for a free weeks trial in Anders Larsens live Trading room
I also learned how to trade forex and would wholeheartedly recommend the fantastic team at the www.fx500club.com They have a live forex chat room and share their charts so that you can watch them find potential trades in real time.
They also have a school for learning how to trade longer term charts at www.fxmonkeyschool.com.
The fx500club and fxmonkeyschool, forex trading school don’t just trade charts and indicators alone, they teach us to use correlation of the whole market before entering a trade. It truly is the best place to learn how to trade forex properly, safely and profitably. It’s all about the pips and about protecting your capital.
Click Here to get a FREE days entry into the fx500 club live trading room
Always Remember.
Keep your risk as a percentage of your capital low (1%), equals stress free trading.
Always work out potential losses before potential profits.
We are paid to take risks, if you aren’t in a trade you cannot win a trade!!
Buy off support and sell off resistance.
Bank partial profits early and move your stop loss to break even as soon as you can.
Click Here to get a FREE days entry into the fx500 club live trading room
2b reversal and 123 reversal trading instructions
Managed forex accounts with no fees Zulutrade
I have now managed to find a few Zulutrader signal providers that are trading for me profitably, sign up for a demo account using my link above then contact me at info @ forex-experts.co.uk so that I can verify your email, I will then contact you with the traders details.
Strats free guide to Stress Free Trading the very best free place to learn to trade forex
Strat will teach you how to trade candlestick patterns at support and resistance, STEVE NISON also has some brilliant products that will help you become a profitable home day trader.
Click here to vist Steve Nisons website or
Click here to signup to his Free Newsletter Signup
contact me at info @ forex-experts.co.uk
For inspiration I suggest you read this page and visit all of the links to professional traders here
