Forex Scanner System is a trading strategy that is built to trade in the foreign exchange market. Forex Scanner System is a very simple trading method to profitably trade in the forex market. Forex Scanner is a trend following strategy which allows you to enter in to the market at the beginning of the trend and exit at the end of the trend. What could a trader ask more for? Yes, if you are able to trade with this system with complete self discipline, making money will be easier by trading in the forex market. You should follow all the rules of the market very accurately. Failing to follow the rules of the system will make you a loser instead of winner. You should also change your mindset. If should have a mind set of a winner not a loser. Winners think differently than the losers. Winners have different state of mind than losers. Winners take forex trading as a career, business and investment while the losers take it as a becoming fast rich scheme. Losers take it as a gambling platform. Losers blame the system, brokers, and many other things while the winners accept their mistakes and work out on it.
When the Forex Scanner System is correctly installed on your system your trading chart should look like this:
Forex Scanner System also uses pivot points but we will not use them to make our trading decisions.
We will use Forex Scanner trend and Laguerre which are custom built technical indicators for generating our trade signals.
- Forex Scanners Trend: Forex Scanner System is a technical indicator which is custom built. The bars in forex scanners trend appears in two colors; green and red. The green bars on the forex scanners trend indicate the bullish market scenario while the red bars on the forex scanners trend indicate the bearish market scenario. So you would be buying only when the forex scanner trend is green in color and selling only when the bars in forex scanners trend are red.
- Laguerre: Laguerre is a custom built technical indicator. It works like a stochastic and RSI. It is basically used in Forex Scanner System to figure out the overbought and oversold conditions.
Buying Conditions Using Forex Scanner System.
- Forex Scanners Trend should be green in color.
- Buy when the Laguerre oscillator touches the 0.15 level.
- Place your stop just below the recent swing low.
- Take profits when the oscillator starts to decline from 1.05 level.
Selling Conditions Using Forex Scanner System.
- Forex Scanners Trend should be red in color.
- Sell when the Laguerre oscillator touches the 0.75 level.
- Place your stop just above the recent swing high.
- Take profits when the oscillator starts to rise from 0.15 level.
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