Monday, October 28, 2013

Never miss a Forex trend, use a Trendy scanner!

'The trend is your friend', a familiar saying in the world of trading. What if you can pick and choose your friends? Automatic trading signals, the ones that 'alert' you when a certain pattern is emerging, can make your job a lot easier and save you a lot of time. Of course, riding the wave of a trend is crucial to make money. This is a trading strategy called 'trend trading', it's one of many strategies, but it's a highly effective way of technical trading.

This is because many investors are using the same trading strategies. In the fast, high risk, volatile world of currency trading, trends appear and disappear out of nowhere. It's very difficult and time consuming to keep up with all the emerging trends, with all that automation nowadays, isn't there an easier way?
Yes there is! I was 'lured' into Forex Trendy when I was researching the internet for easier ways to spot trends in the Forex market, first thinking it was some sort of scam site claiming to have the holy grail to Forex trading. Truth to be told; it may indeed look a little shady, but the fact of the matter is that it does work, and it does offer what it says it will. I'm a big believer of making money with money. You'll have to invest some sort of money to make (serious) money, so yes I BOUGHT it! ($37 quarterly, and yes I made this money back already!)

So, I've used it myself a few times and the results are pretty satisfactory to tell you the truth. (It's always a good thing to make the money back that you invested the same day.) I usually don't trade Forex that much, due to the high risk involved - and I have trouble spotting trends. I do keep my eyes on the Forex charts everyday to see if I can find a trend, and sometimes I'm amazed how fast a price increase or drop has occurred. This piece of software will scan the charts and alert you ahead of time when the trend is starting, or about to start (sound effects included if desired). When I do trade Forex, I first check Forex Trendy; this is truly an amazing little piece of web based software (nothing to install) that instantly allows me to see which pairs have the highest probability of becoming a successful trade based on trend analysis. It will quickly scan well over 30 Forex pairs and show which ones are trending. Many times I used to always miss the beginning of the trend, or simply overlook the trend on the chart because there are just too many of them to keep your eye on. Now, I can use this to my advantage! You can then use your own favorite trading platform to execute the trade.

What I personally really like about the Forex Trendy system is that you can instantly see which are the best trends on every chart on any time frame. Below I took a snap shot of the various intervals you can choose from:

Forex Trendy Example
Instantly see on which time frame the trend is heading.

As you probably know, some trends don't show up on certain time frames. The trend on a 5 minute chart looks different than the 15 minute or hourly chart of course. I think trend trading is better than trading with automated bots. The problem that I encountered when I use automated trading software (I wrote an article about that years ago), is that it has the tendency to lose money in sideways or highly volatile markets, which means: when the markets are choppy it enters trades it shouldn't have. Trend trading is fine overall, but the hefty price tag is what you're paying for the overall package. Strip it down to only trend trading, what makes the real money - and you have Forex Trendy, just a simple trading system that spots trends, that's it!

Be careful though, trend spotting doesn't automatically mean that it will become a profitable trade - you will still need to conduct your regular analysis to confirm that the trade will have a chance to be successful!

Go ahead and see for yourself how easy it is to spot trends with Forex Trendy.

No comments:

Post a Comment


All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.