By virtue of the immense volume of trades made during a trading day in the foreign exchange market, there are on any given day a number of opportunities from which traders may profit. Identifying the trend and riding it through to a profitable exit point forms the basis of John Chen's Profitable Trend Forex System. And this review will endeavor to address how successfully his system is theoretically able to accomplish this.
While there are many forex trading systems that use this same premise for trading, few are structured to give the trader the minute-by-minute trend information needed in order to profit consistently from this market. While some forex trading systems try to forecast future market movements, others concentrate on analyzing the up-to-the-moment data in order to provide traders with a profitable exit point. This is what John Chen's Profitable Trend Forex System intends to do for its users. John's system utilizes the MetaTrader4 charting software, which can be downloaded free; all the given indicators are taken from this software.
Chen has been successfully trading the forex market now for several years. He has made the claim to have never had a single losing month using his system. One fact that he discloses which may make this claim credible is that he admits his system is only 70-75% accurate. And that what he attempts to accomplish is more higher-profit winning trades while limiting his losing trades to lower amounts. In other words, he endeavors to abandon a trade promptly once it indicates that it's headed in the opposite direction of a profit in order to cut his loses. On average, he states, he's been able to accomplish this using his Profitable Trend Forex System.
Chen's forex trading system concentrates on giving the trader two very crucial pieces of information vital to any successful trade: it endeavors to identify the trend, and to join the trend with precise timing. In addition, two other important factors are also given high priority consideration: these are "stop loss" and "take profit." A stop loss is an order to cease trading when the currency reaches a certain point. The take profit mode is a conservative approach to a market upswing which results in guaranteeing a profit while at the same time limiting the downside risk of a quick collapse.
By following the precise entry and exit rules, the trader is given the two information keys to either a profitable trade or a timely exit from a potential losing trade. Money management also plays a key roll in the Profitable Trend System, and disciplined money management rules are heavily stressed. One user of the system reports that "so far it's making me money consistently." Another user exclaims that: "For me, it's a flexible and profitable system that really improved my trading."
To learn more about this forex trading system, you can read a further opinion at Review of the Profitable Trend Forex System.
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