4 Straightforward Tips On How to Use Free Forex Software To produce Up to 185% on Trading Revenues

During the last quarter or so I have been developing quite a few trading systems that are created by using a set of very simple trading indicators. The good thing of it is that a variety of them are incredibly profitable and easy to apply. The other day I back tested a set of absolutely free Forex software tools that have made an overall total of 185% in the last Year by trading only 1% per trade.

I actually found this trading strategy when I was testing several Forex indicators and trying to find good mixtures of lagging and leading indicators. After testing about a hundred of them I was able to find a collection of indicators that was actually generating revenue.Outlined in this article I will be explaining to you 4 easy tips on the best way to also create powerful trading systems that can be make 180% ROI and much more per year.

Choose a mix of indicators that makes sense:

When you are on the lookout for new trading systems you will need to look for indicators that work well together. As an example, I usually use a mix of lagging and leading indicators.

Why? Because I want to be capable to take advantage of the early signals some indicators provide along with the confirmation signals indicators such as RSI can offer.
Also, I always make sure that the signals I am receiving from my set of indicators are not too weak. The best way to measure the strength of a signal is by forward testing it (with a demo account, never with real money) and evaluate the way they perform.


Mix indicators that can measure the strength of the movements and another one that confirms the market’s intention:

This is a very important part when you develop a trading system. If you only use indicators that measure the strength of the market it will be hard to determine when to enter the market. On the other hand, if you only use indicators that help you to identify the market’s intention (for example: the market is about to go in an uptrend or a downtrend.


Backtest the trading system for at least a year:

Backtesting is the only technique to confirm that your trading system actually works. A great number of strategy developers and investors make the big mistake to simply back test a trading strategy for a couple of months or days. This is a serious mistake because anyone who has been trading for a while knows that every trading system has good and bad months. In some months I have made as much as 50% ROI, in a bad month I have had a -7% or a -5%. If you only test your system for 2-3 months how do you know that you didn’t just catch the good months with your backtesting. Then, if the system is not as profitable as you thought, you will be confused and disoriented when it starts to lose you money. For this reason I suggest to back test a trading strategy for a minimum of 6 months (if you back test it for 1 full year is even better)

Establish a set of money management and risk management rules for the system:

As a final point you need to create a set of money management techniques and strategies to go with your trading strategy. Also, it is necessary that you apply your money management techniques while you are backtesting your free Forex software system.

Stay tuned as I post articles daily and you can always benefit from all the information we are giving out to the Forex trading community every day.

Sincerely,

Jay Molina
Pro Trader & Mentor

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