RE: [GET] Forex Mentor - London Close Trade Strategy Step By Step
I'm new to Forex- really a total noob and feel excited to learn. I wish to thank ALB for his 'Insiders' knowledge, along with many others that have contributed to this useful thread.
On another level, I wish to thank you ALB for the practicalities of Forex, so well stated, in post #25.
Post #25
Quote: RE: [GET] Forex Mentor - London Close Trade Strategy Step By Step
A buddy of mine on BBHF requested my posting a perspective since he knows I use this method. I may be a bit biased....
For those who have dabbled in Forex because they've seen the outstanding potential-- but haven't yet found a method that they believe will work for the long haul. [As a note: dabblers tend to be "eaten" in Forex, or any career where serious money is put on the line with long odds.... ]
This method still works just as stated in their advertising materials, in my opinion. Over the last 4 years I've taken 339 of these trades over 5 pairs: GbpUsd, EurUsd, UsdJpy, UsdChf, AudUsd. This is the only short term method I trade. I typically prefer longer term trading methods.
(Note: I paid full price for the method...)
Vic Noble even outlines a simple test you can make to prove to yourself that the method works with very little risk. He says to take 20 trades exactly according to instructions/mechanically to prove it. Using a firm like Oanda where you can literally risk less than 10 cents per trade, that means if every single trade failed it might cost you a total of $2.
I would bet that only 1 person in 100 would lose money in twenty trades. And that one a loser because he didn't do something right.
It is not the simplest method to learn, but it is a professional-style method. There is no doubt whether you have a qualified trade or not. If you get filled, you have a trade. If you don't get filled, you don't. If you start having good success with the concept, you can learn even more nuances that can cut risk [which means increasing reward vs. risk] even more.
Shirley Hudson, the main author of this method, has continued to have tremendous success with it. Her win rate and success are public record. And tons of her fans profit similarly.
She lives on the West coast in the same time zone as I do. You start looking for the trade setup starting at 7:30 - 8:00 AM PST (10:30 - 11:00 AM EST) in the morning - which coincides with the London financial market closing time period.
Shirley and Vic make a good team in explaining the why and the how. The main reason why "London Close Trade Strategy" works is because there is a proven regression-to-mean tendency in place when markets have exceeded their average ranges. The mechanics of "professional" firms require that their operatives have cut-in figures where they are obligated to buy or sell. At daily market extremes these levels can be very powerful. The trades are slated to be entered - under these circumstances ONLY. With a very reasonable risk/reward. Usually risking $200 to profit $200 (full-size contracts) with a 70-80% win rate. (Shirley does a bit better because she's been doing this for a LONG time. You should get better with time.)
My average win rate has been 73%. My average loss over 339 trades has been 19 pips, while my average profit has been 17 pips. I don't have time to go through all the math but, suffice it to say that the expectation on my trades is about 8 pips profit after commissions/spreads are figured in. Trading with full Forex lots, I expect to make $80 per full lot every time I enter a trade, of which I find about 3 - 5 a week to exploit.... I spend probably less than 15 minutes a day putting in orders for the method. If I spent more time I have no doubt I could elminate a lot of losers which would help the bottom line. Life is tradeoffs...
For the IMers on this forum I want to address a possibility that might fit your situation.
Not everyone wants to be an IM Guru...,
....and sell $1MM in products a year, coming up with new products, managing people, coming up with new strategies for traffic and more new products. You need to think about how you plan on going through the next 5, 10, 20 years.
Passive income in IM is -V E R Y--R A R E . . . . .
You can work moderately hard in IM for a year and make a decent niche business, maybe have a home-run or two, get an "extra" couple of hundred thousand and have an "evergreen" bread-and-butter marketing business. With a few hundred K in "passive" but scalable vehicles like "intelligent" real estate investing, trading methods like the one mentioned above or others based on human behavioral qualities - you can pretty much live the wealthy life-style that most would associate with the GURU lifestyle.
With a much smaller footprint. Much more robust and simpler to manage. And you aren't as big of a target for competition. Something to think about.
Have a great week.
AbeLincolnBart
PS: This product is still being offered (because it has a great track-record) and people are still buying it at full price. And you get it here at BBHF.
Quick Edit: I just exited a trade from the method a few minutes ago. I shorted the AudUsd @ .7353 with a 20 pip stoploss and just exited the position for 22 pip profit @ .7331. Yes, it is just one trade, but the concept worked like expected. BTW, after entry, the market only went 2 - 3 pips against me before going straight to my profit target. Just thought you'd find it interesting....
Post #34
Quote:Absolutely agree with 'jcb28' -
Nothing fundamental in the trading of Forex changed by Brexit.
The volatility for the week before and week after was significantly increased, but the method still works [pretty much HAS TO WORK] because the large banks and trading institutions that arbitrage all of the major currencies still have to wind and unwind currency spreads continuously as business is transacted internationally.
Because of the increased volatility the profit potential has been greater the last 2 weeks....
Orders are still getting executed at the same percentages as prior to Brexit..
AbeLincolnBart
(07-04-2016 03:26 AM)jcb28 Wrote:
(07-02-2016 12:06 PM)johnrichardjack Wrote:
Does the London Close Trade Strategy still work even after Britain voted to exit the European Union?
There's no reason it shouldn't. Brexit had nothing to do with currency. The Brits were part of the Union but kept their currency separate from day 1.
Post #52 and post #19 by sunnyTRIO still working.
Quote:Thanks -saintjohnny- for the share of Forex Mentor - Recurring Forex Patterns by the same duo that brought the "London Close Trade Strategy".
It is below:
http://bestblackhatforum.com/showthread....pid1827422
Thanks again for your great shares.
AbeLincolnBart
Post #59
Quote:anyone still have this course please pretty please reup,Thanks if someone does lots of reps coming to you + i''ll post a delightful pic of my sexy pins! Lol
You asked for it - you've got it - "LeggyAnita".
First of all I recommend anyone checking this method out to re-read this post from a year ago....(click)
Fresh zippy links:
Magic Button :
I'm still trading the method. In 2017, it's been even more profitable than 2016. Averaging ~76% winners. (Maybe I'm just getting better at finding optimal trades. Could be. That's the benefit of repetition....)
That being said, (and yes, I know this is just one trade...) I took a trade today while I was downloading the course for you and made $445. Just one of 4 "London Close" trades I took this week (3 winners).
[Image: xSRSuc1.jpg]
The principles are sound. This IS a professional-style method. It is simple..., but not terribly easy. It is precise, and you need to think to put it on. There will never be an EA that does the work for you. Which is good for all of us....
On the other hand, it's almost like owning a casino, because when you find a selected trade, you most definitely have the edge. A BIG EDGE!
Have a great New Year.
AbeLincolnBart
Post #66
Quote:blue moon Wrote:
All these massive courses can be shrunk down to a system of a dozen lines (they have to make the courses look more valuable to sell at a higher price). Anyone care to give the summary of the system before I study hours and hours of video footage?
This method accurately finds a high-quality reversal point, an average of 1-2 times a week - in most liquid Forex pairs. A 1:1 set-up trade that succeeds about 65% of the time if your execution is about average.
The set-up is determined from a combination of 3 things, average daily range projection, time period (morning in the USA) and 78% retracement entry counter to the day's primary motion. Profit target = risk, more or less.
The individual who engineered the setup is still trading the method today, and has averaged > 90% winners for months at a time. Focus pays off big time, especially if you're serious and wish to make BIG bucks doing it.
It isn't trend dependent, though the method does work a bit better in ranging (preferably larger ranges) markets.
I highly recommend you putting in the couple of hours checking it out. If nothing more than knowing what profitable traders in the same market are doing. You might want to use the info for a "bonus" exit for some trade you find yourself in the future.... (Having more tools can be useful)
I wouldn't have gone into this much detail if you weren't a "sharer" yourself.
I use the London Close strategy in addition to longer-term methods that I've used for 20 years. A marriage of reliable methods with different time frames can reduce account volatility significantly.
Some of my earlier posts about "London Close Trade Strategy".
Post #25
Post #34
Post #41
New download links:
Post #59
Cheers,
AbeLincolnBart
Post #67
Quote:RE: [GET] Forex Mentor - London Close Trade Strategy Step By Step
The method obviously still works. But you have to wait for the correct "environment" for the trade, then execute precisely.
The following is an example of a trade just taken on Friday, Jan. 12, 2018.
[Image: London_Close_Eur_Usd_011218-_B.jpg]
Even though the Euro was on a "tear" to the upside, it followed its proven tendency to correct quickly - and profitably - for me, before continuing on its way to even higher highs.
The strategy bears investigation by anyone serious about Forex trading.
Have a great new week.
AbeLincolnBart
ALB
Also posts #77 and #78 on this page above.
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![[Image: London_Close_Trade_Gbp_Usd-09-21-19.jpg]](https://i.postimg.cc/gcXvsmv9/London_Close_Trade_Gbp_Usd-09-21-19.jpg)
![[Image: London_Close-_GBPJPY-_10-08-18.jpg]](https://i.postimg.cc/jd461Fr5/London_Close-_GBPJPY-_10-08-18.jpg)
![[Image: London-Close-GBPusd-02-19-19.jpg]](https://i.postimg.cc/W4RW6MZ9/London-Close-GBPusd-02-19-19.jpg)
![[Image: London-Close-GBPUSD-02-22-19.jpg]](https://i.postimg.cc/j2DmW91Z/London-Close-GBPUSD-02-22-19.jpg)
