Forex Pip Taker Review: Profitable Forex Trading Systems
Is Forex Pip Taker really a profitable Forex trading system as promised on its website? This new forex trading system requires only a few minutes of analytical work every day. This is in stark contrast to many other traditional Forex trading systems I have been using before that would require me to spend up to half a day staring at my computer screen every day. Some of the commonly used technical analysis tools that the owner of this system does not use include Fibonacci retracement indicators and neural network equations.
Why is there so little use of traditional technical indicator tools in Forex Pip Taker?
These tools have been tested and shown to be unhelpful during commercial testing. In fact, there is very little technical analysis work involved in using this trading system. Instead, it looks at larger indicators that are more reflective of fundamentals. So I don’t have to analyze complicated charts while using this tool and I certainly don’t have to sit in front of the computer looking at 1 minute charts for hours every day.
What are some of the skills you can learn using the Pip Taker Forex Trading System?
One of the most important skills I have learned from this trading method is how to identify false breakouts and therefore not make a trade that is bound to lose money. This is a skill that most other trading courses have not taught me before and it has already helped me eliminate a significant number of losing trades.
Once you enter your trade, you will need to immediately know where to place your stops to cut losses as quickly as possible if it still turns out to be a bad market signal. Traders will be taught how to identify true support and resistance levels rather than short-term ones that are not powerful enough to affect the strength of trends.
By analyzing all of these factors before placing a trade, I usually have a very good “gut” of how the trade will turn out based on these indicators being used, allowing me to anticipate which positions will end up being the most profitable. . Each trade aims to generate around 300-500 pips based on long time frame charts like the 4 hour rather than focusing on shorter time frames. Therefore, traders are not expected to be busting the markets looking for small profits of 10 to 50 pips.