10 Year old produces great Forex Signals

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childcomputer
Just turn it into a game and they are hooked
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Forex signals are not that difficult to find.
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Sometimes I think we over think trading and ignore the most basic and easiest methods.

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A long candle on a Forex chart represents is a quick Forex move that moves in the direction anticipated with such speed that it need a very small stop and can produce huge positive results.
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These move are ideal for any Forex trading and are even more ideal for techniques such as the Double in a Day techniques where you can double your account with 1 trade.
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As you may know I am on a multi hemisphere 6 week trip. I recently taught a 10 year old Greek boy of one of my mentorship students (I can’t speak Greek) how to find Forex trading entries by drawing simple lines on a charts and indicators. We then left him to practice to identify entries using the historic charts. When we later looked at what he had done the signals he identified produced 1 600 pips with no losers and all required very small stops.
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If a child with no mental baggage can do it surely there is a lesson to be learnt from our approach to making money. Maybe we are our worst enemy.
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The technique below is very simple. Just draw Trend-lines on the top and below bouncing points on the price chart and the indicator charts. Enter when the trend-line is violated. Normally very small stops are required.
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Right Click on the chart to increase its size by opening it in a new tab
 
Trendlines

Makes you think – doesn’t it

This is one of the first activities we get new traders to do in all our beginners classes. It gives them a lot of confidence that Forex trading and technical analysis is not that difficult – In the long run it is only the traders mental approach that stand between success and failure.

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1 Comment

  • Rod Grenell

    April 23, 2016

    Thanks Alex,
    Very good to see the basics at work, what with all those fancy indicators that have been made over the years clogging up charts. Some are very good but you cant beat the two indicators on your chart, Trend lines and RSI 4 PLUS the best free indicators, your left and right eye (plus your brain). Even if you don’t draw trend lines a simple MA 5 Shift 2 Linear Weighted/Close does a good job of a trend line.
    A great back to basics article.
    Cheers
    Rod

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