Today, let’s review one Forex Trading Method that meets our test for a good trading method and share with you why it’s a good trading method.

Our criteria for trading methods and the basis upon which we make our recommendations are:

■In-depth, detailed learning instructions ■Trade [...]]]>

Forex Trading Methods and how a forex trader can identify a good method.

Today, let’s review one Forex Trading Method that meets our test for a good trading method and share with you why it’s a good trading method.

Our criteria for trading methods and the basis upon which we make our recommendations are:

■In-depth, detailed learning instructions
■Trade Opportunity Identification
■Entry Rules / Exit Rules
■Trade Plan and Strategy
■Risk Management (Initial and Ongoing)
■Product Support (Materials and Customer Support)
■Additional Product Tools (Forums, Member Websites)
■Product Guarantee

Any course, program or trading method must meet or exceed these criteria in order for us to give it the ‘Green Light’.

First up: Forex Time Machine

This is the latest in a series of Forex trading methods from 35+ year trading veteran Bill Poulos of Profits Run. Bill has most recently released a day trading course called Forex Income Engine 2.0 and previously released one of the longest running forex trading courses, the Forex Profit Accelerator in 2007. He is very well respected as a trading educator, teaches his students from the ground up, and is one of the few out there who doesn’t hype with ridiculous performance returns or guarantees.

If you don’t know Bill or have not had an opportunity to get some insight on his education style, watch this video as he teaches traders how to manage risk in every trade.

The Forex Time Machine – Does it meet our criteria?
What is it: Forex Time Machine teaches three individual yet synergistic methods for attacking the Forex markets, all in a single trading course.

Who it’s designed for: This is one of the few courses that crosses over the trading style lines. The methods are applicable to any timeframe – so whether you are a day trader or an end of day trader, or, a casual trader, the methods taught in this course will work for you.

Account size: $500 and up — this was a huge selling point for us. This course can be used for micro, mini and standard lot trading; we’ll discuss this more in the Risk Management section below.

Course Style: Forex Time Machine teaches technical indicator-based trading, using common indicators in a very powerful way. This is not a mechanical or automated program. Instead it puts the power to trade in YOUR hands, which is where we believe it belongs.

What you get: The course contains a set of 7 cds and full-color indivdual reference manuals. These manuals make it very easy to find the information your’re looking for if you don’t happen to have the cds with you. — both of which are perfect for self-paced learning. You also get 3 card-stock ‘blueprints’ that summarize the trading methods and make it easier and faster to identify potential trades without constantly having to refer to a manual or a cd. Also included is Bill’s proprietary Broker Selection Scorecard and a Quick Start Guide to help you get moving through the course faster.

Criteria and Review
In-depth, detailed learning instructions
By far, one of the advantages we found of learning from this course is Bill’s very detailed examples and teaching for the application of the indicators and identifying potential trades. Many courses tend to rush through the sections on how to use a course. Not this one. You’ll be very comfortable learning at your own pace throughout this course and have the ability to take the very deep dive with Bill into the indicators, applying them to charts, identifying and placing the trades and managing risk.

Trade Opportunity Identification
Following on the detailed instructions, we found potential trades were very easy to spot, either visually or with the aid of the blueprints. This is key, especially in shorter timeframes when you must react quicker to market conditions. The three methods work together to provide an abundance of trading opportunities every day, and many of those are high probability, low risk trades with solid profit potential.

The other part of the methods we liked was the freedom to take out of the market as many pips as we were comfortable taking out. In some cases, if we only had a few minutes to trade in a day, we wouldn’t be required to watch a trade for hours on end. We could get in, get out and move on with our day. This is important most especially for more casual or end of day traders. Those who are day traders will find a shocking number of opportunities in our opinion and easily be able to take them.

Entry Rules / Exit Rules
One of the most important elements to our reviews is how a course teaches traders to enter and exit their trades. In this category, Forex Time Machine was a huge winner. You’ll learn step-by-step instructions for identifying, entering and exiting trades. You can ignore this section at your own risk!

It isn’t often we see a high quality course that shows you the precise setup conditions to be met before you even consider a trade as well as the exact entry point you’ll target — and then goes on to show you exactly how to manage the trade all the way through a scaled exit strategy. The three methods in Forex Time Machine all have unique rules for identifying and entering trades – the exit strategy is consistently applied across all three methods, which means once you’re in a trade, you’ll always know exactly what to do. That was very important in our view because it takes all the guesswork out of the trade, but still allows you the freedom to let the market come to you.

Trade Plan and Strategy
Another strong point for the Forex Time Machine was the ability to trade when YOU want to trade. It’s no secret that the one mistake many traders make is trading when they don’t have the time to pay attention to the details — this gets them into trades they should not make and creates too many ‘hurry up and hit my profit target’ errors.

The strategy behind Forex Time Machine is simple: trade in whatever timeframe best suits you. If you’re a daytrader, you’ll see detailed examples of trades from 5, 10, and 30 minute charts. If you can only trade in the middle of the day, you’ll see examples from 1 hours charts. If you can only trade at the end of the day, you’ll see examples from Daily charts. The freedom to apply the methods whenever it’s best for the trader makes this a solid course to work with. Too many courses are too rigid in their application, or take control away from the trader – which we continue to view as a bad idea.

Risk Management (Initial and Ongoing)
Bill is one of the loudest voices on Risk Management. His latest ‘weapon’ is called the Forex Risk Eraser — and when you learn to apply this to your trading with the three methods, we’d be very surprised if your results are not immediate! The key change he’s teaching here is how to manage risk FIRST and manage profit SECOND. Now, at first glance, you might think that doesn’t make sense. But it will make a world of difference once you see how it’s applied and how it changes the balance of trading power to be COMPLETELY in your favor.

Not only does he make it easy to understand and implement his risk management tactics, but he teaches you how to incorporate it into your trading life – that’s education you can own forever!

The amazing part of his risk management teachings was the ability to apply it to ANY method. Doesn’t matter if it’s one of his courses or somebody else’s. Who else teaches traders a concept that isn’t strictly for their own method? That was very cool to see.

The risk management teaches far more, however — you’ll learn how to accurately calculate the right lot size, position size, initial stop losses, take profit targets, ongoing (trailing) stop losses and preservation of capital for the long haul.

In our opinion, Bill Poulos is one of the BEST educators on the topic of risk management.

Product Support (Materials and Customer Support)
As we noted previously, we liked the individual manuals that come with the course for fast, easy reference. The materials are high quality and we had no problems running the videos. Forex Time Machine includes a forex basics course, technical analysis basic training, charting software information and trading ‘blueprints’ to organize trade planning. OVerall, excellent product materials, no extraneous or useless material.

Profits Run has long had a strong reputation for providing solid continuing support to students. Their email support system is easy to use, and they are very consistent in responding within 24 hours (and often even faster than that), even on weekends.

Additional Product Tools (Forums, Member Websites)
Profits Run doesn’t offer a product forum, however, they do offer a member’s website. Typically they’ve provided additional training materials on their products on their member’s only website, including special trading videos, webinars and more.

Product Guarantee
As well as product support, the product guarantee that Bill gives students is the best in the market. You get 60-90 days to review the product, test it and see if it’s right for you. Most courses out there are stuck on 30 day return periods, which as we’ve noted before hurts most traders because it forces them into hurry-up trading mindsets.

You have a long period to learn and master just ONE of the three methods and see if it can be profitable for you. Think about how powerful that is – can this course pay for itself? You bet — in fact, you only need 8 pips a day on average (in just one year) to recover the investment in the course. 8 pips.

With three synergistic methods, solid risk management practices, exceptional customer support and very detailed learning modules, anyone can master the Forex Time Machine.

Review Conclusion
Needless to say, we give Forex Time Machine our top ranking as one of the best forex trading courses on the market and one of the most complete, in-depth but easy to understand trading methods we’ve seen in a long time. Click here to see the Forex Time Machine from Bill Poulos