Forex Factory Forex information
Forex techniques using Information from the ForexFactory Website helped one of the Expert4x New Zealand traders make over 1 Million New Zealand dollars in 17 months.
Sometimes opportunity slaps you in the face. Some wake up in a big way and other just complain. That is the story behind a New Zealand trader who battled with technical analysis forex trading techniques for 2 years and then thought – “There must be a better way”.
So he started studying human behaviour and market behaviour instead and noticed a number little quirks in the Forex Market. He used mainly information from the Forex Factory website and Forex forum to create Forex trading techniques that were so simple and yet ingenious.
This Kiwi was basically a contrarian Forex trader so these techniques suited his Forex trading style perfectly. He noticed a certain herd mentality in the Forex Market and he took advantage of it in a big way. The Forex Factory News section was another tool to measure herd mentality.
How he did it 1
It is not a Forex secret that certain Forex brokers make lots of money using information from the client Forex Broker account to make big gains. I am not taking about trading directly against client but using the information about the direction clients were trading in in their live Forex trading accounts. Just think about it for a moment. It is commonly known that 90% of Forex traders fail – mainly because they are trading in the wrong direction. So all you have to do is trade in the opposite direction than the herd. He used the Forex Factory Market information on the Forex Factory website exclusively for these trades.
How he did it 2
The other herd based behaviour he noticed is just before major announcements the big boys would try to move the market in the opposite direction to the anticipated break. This happens so consistently that he could determine the announcement breakout direction more than 80% of the time. This Trader used the Forex Factory calendar detailed information for these trades.
Many for the above trades did not even require Forex trading charts. He purely used the buy low sell high approach.
More Information
Find more information about these techniques on the www.moneymakingForexTools.com website.
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