Hey Guys,
Earlier this week I promised that I would be releasing an update to my trading method. Well the update is finally here!
As you probably know my key goal in Forex is to keep things as simple as possible. With this update of my method I have further streamlined and simplified things. So far this year I have taken 20 trades with this trading method and won 19 of them. So the method is fresh, simple, and highly profitable!
Traditionally I released my method as an e-Book but this version is laid out over several webpages. I will be compiling the method into an e-Book soon and will be adding it as a free download.
Check out the method in the Forex Trading Strategy section.
Next week I will be holding a free webinar and Q&A session on my trading method.
Have any questions? Want me to expand on something? Leave a comment and let me know!
PC
This is nothing but a very popular J16 method.
Nick
What on earth are you talking about? This site has been around since
2006 and since then I have taught the same thing. This is the latest
update but it is the same core method as I have been sharing for half a
decade.
Perhaps you should do some research before you open your mouth.
By the way J16 uses pinbars and the last time I saw his method, two years ago, he did not use Support and Resistance.
Think before you type.
Jazza87
PC I have traded nicks trading system for a long time and it is nothing like j16.
Thanks nick :)
sambhu
PC,
I have been with Nick since Venissa FX. I do not agree with you.You may find touch of many a things but Nick is original in every respect.Please encourage him to speak out,he is a real genius.
Aha1551
If nick is a genius how many pips us he making 20-30 pips as he says I’m sorry but that’s not being a genius.
Nick
Hi Aha1551,
I never target anything as low as 20 pips as it would not make for a viable trade.
Generally my target is 35 pips, but that is only the first target. I usually let strong trades run. Most trades end up being worth 40-50 pips.
So far this year I have won 19 trades and lost 1. Let’s imagine that I only targeted the minimum of 35 pips and it puts me at +640 pips for the year. If that continues through the year at an average of say 500 pips per month that is 6,000 pips in a year.
So even if I only target the absolute minimum (35 pips) I would only need to take 3.5 trades per week to make 6,000 pips in a year. Realistically most trades end up being worth more than 35 pips so the end of year total would be higher. And, I personally only target 100 pips per weeks as I have a large account that that is more than enough for me.
The traders I work with which are trading this method are taking 5-6 trades per week making anywhere between 35-50 pips on each trade.
So let’s average the above down to 22 trades per month with 19 winners at 42 pips and 3 losers at -25 pips.
42 pips x 19 trades = 798 pips
-25 pips x 3 trades = -75 pips
798 pips – 75 pips = 723 pips
Lets average that down to 700 pips.
700 pips x 12 months = 8400 pips per year, that is nothing to scoff at.
Honestly any trader worth his salt knows that calculating future profits like I have above is foolish. In real trading as there are too many factors involved and calculations go out the window. What matters is what a trader makes at the end of the year. Between January 2011 and November 2011 the traders I work with averaged 7700 pips for the year each. One of them was trading two standard lots…..
I will leave you to figure out how much money that could potentially come too.
This method does take work to learn but once learned it is a high profitable and highly accurate method. I hope everyone enjoys it, including you.
GoodVibrationS
Hi Nick,
I use every day your trading system and for me is awesome!!
But tell me, how do I join in your group of traders? I would greatly
Thank you so much for your support
Best Regards
Lizzyfx
Thanks heaps Nick, this is a great update!
Eamonv
Thanks Nick for all your help.
Ronald
Very good presentation with simple, concise and powerful examples. Keep up the great work!
Ronald
Joseph
Hey Nick thanks for the share…you make trading so simple. It goes to you have a good understanding of the trading techniques you teach.
Thank you so much. Can hardly wait for the e-book now…
diane_shaw
Price Action is a form of technical analysis that focuses solely
on past prices that have traded in the markethttp://forexfraternity.com/forexblog/entry/diversify-with-forex
George Papazov
The trading strategy that you shared is really great. Thanks.
George
I have read the linked article of Forex Trading. For beginners all, you need to read and execute it according to the method.