Forex Spectrum is a trading methodology that is designed to trade in the currency market with high rate of profitability. This system is unbelievably simple and effective too. Even the amateurs shouldn’t have problem to trade successfully with this system since the system is crystal clear with its trading signal. While the Forex spectrum is highly useful to the amateurs it is also equally useful to experts as well. In the forex market, simplicity doesn’t mean being amateur. It is the foundation that will make you successful in the field of trading business. Making things overcomplicated will only hurt your trading career. Most successful investors of the world recommend the same thing- keep it simple. You don’t have to learn too many things and difficult things to succeed in trading. Just follow one, believe one and master it. There are many other things that determine the successful trading career. It is not only about having the knowledge of the market and how many systems you know. There is unseen part which plays vital role in successful trading life. That is the psychological aspect of trading. You cannot make money out of the market if your mental attitudes are not trained properly. Your mind needs to be trained in a proper way with complete self discipline. It is very important that you should have a winning people’s mind set. Positivity within you is required.
Let’s get back to system. Forex spectrum basically has three technical indicators. When the Forex spectrum is installed on your trading platform your trading chart should look like this:
- Arrows: Forex spectrum uses arrows for generating the trading signal. Arrows come with two colors; blue and red. Blue colored arrow signals buying while a red arrow signals selling.
- RSI Filter: RSI filter is used for filtering the trend of the market and it smoothen the price direction which makes you less confusing about the direction of the market. Blue bars in RSI filter indicate uptrend market while the red bars indicate bear market.
- Targets: Target indicator used in this system is similar to the pivot points. It works as a potential support and resistance. You can set your take profit targets and stop loss levels based on this indicator.
Buying Conditions Using Forex Spectrum Trading System.
- RSI filter should be blue in color.
- A blue arrow below the price chart should appear on your main chart.
- You should place your stop just below the recent swing low.
- Take your profits when the price hits one of the pink colored target indicator’s levels.
Selling Conditions Using Forex Spectrum.
- RSI filter should be red in color.
- A red arrow above the price chart should appear on your main chart.
- You should place your stop just above the recent swing high.
- Take your profits when the price hits one of the blue colored target indicator’s levels.
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