Forex Blog

Much better forex trade entries are possible with the proper chart setup. This article and linked resources will show any forex trader how to improve your pip totals with some best in class systems for trade entries. We will strongly suggest that you use the Metatrader profiles to set up your charts by individual currency to have a strong positive impact on your trades. The videos at the bottom of this article will show you exactly how to set up the profiles.

We will use JPY weakness as our example trade entry below. But the principles outlined here are exactly the same for all 8 currencies we trade, up to 28 pairs, plus XAU gold pairs. If the JPY is weakening in real time you might get aan alert like a push alert on your desktop browser, mobile device, our scanner system, or audible price alert from your trading platform. All of our alert systems are outlined in Lesson 16 of our 35 forex lessons.

Trade Entry Example

After you get the alert on the JPY pairs, the next step is to open up your charts on the Metatrader profiles viewing all of the JPY pairs charts on the smaller time frames, like the M5, M15, and or M30. You can use the metatrader profiles to set up your charts to match our heatmap tool on any time frame. Remember for trade entries you use the heatmap plus the smaller time frames. The larger time frames give you the overall market perspective, i.e, trending, ranging, choppy, etc.

If The Forex Heatmap® indicates that the JPY is weakening on all pairs and looks consistent, you have a potential entry point for a buy on any or all of the JPY pairs. You should be able to see all 7 of the JPY pairs on one screen side by side to match the heatmap:

This is a view of all of the JPY pairs on the M15 time frame. The reason you set up the Metatrader Profiles on the smaller time frames is so the smaller time frames on your screen match the heatmap configurations for consistency. You can look at all 7 JPY pairs at once on the smaller time frames on one screen. This is a very powerful trading system. On this particular day the JPY pairs had a combined movement of 800-900 pips, in just one trading session and movement cycle. Traders can also set up the charts this way on other charting platforms like web-based forex charting platforms. This is a fantastic way for forex traders to set up their charts to monitor trade entries for 8 currencies and 28 pairs for maximum profitability and visibility. Navigate to the next currency using the hotkeys on your keyboard looking for opportunities.

If a trader decides to buy the EUR/JPY based on the JPY weakness, there are two possible outcomes. Possible Trade Outcome Number 1: The trade stalls and goes nowhere bouncing around, + or minus 10 pips, you must exit the trade within about 30 minutes. See our 30-minute rule in Lesson 29 of our 35 forex lessons. This lesson is titled: Forex Money Management.

Possible Outcome Number 2: This is a more likely outcome since the JPY pairs have so much momentum. The EUR/JPY buy trade continues up into strong positive pips. The trader would then move their stop to breakeven and start to scale out lots.

Now Check The Higher Time Frames

You are now in a buy trade on EUR/JPY. Next decision is to check the higher time frames on the EUR pairs and JPY pairs to see the if EUR is strong and/or the JPY is weak to see if you are in a trend trade or shorter-term trade. This only takes a few seconds to check with the Metatrader profiles.

Simply click on the Hotkeys on your keyboard to move the profiles to the EUR and JPY pairs on the D1 time frame. If the all of the EUR or JPY pairs are trending up on the higher time frames, then you can hold the trade and start looking for price targets. Very simple but usually ignored by most traders.

Ctrl F5 and Shift F5 keys can be used to navigate up to 7 charts at a time, or use the Metatrader profiles dropdown menu. Review the larger time frames, then a decision can be made to hold any remaining EUR/JPY lots for additional trend-based pips.

Traders who would like to analyze the forex market like a professional can also use the higher time frames to do this. Just fill out our forex market analysis spreadsheet for the 8 major currencies every day on the higher time frames, like the H4, D1 and W1 time frames. The Metatrader profiles will facilitate the analysis. If you do this you will always know what pairs are trending and what currencies are strong, weak, or choppy.

Videos On How To Set Up The Charts

To set up charts by individual currency on any time frame using the Metatrader profiles we have this basic video on how to do this. We also have 2 videos titled “Fine Tuning Your Forex Trade Entries” in our Youtube library. These videos will expand the discussion and show you step by step how to set up the Metatrader profiles, and their importance to your trade entries and individual currency or overall market analysis technique. Also check this illustrated article about What Is The Best Time Frame To Use. Become an expert on these chart setups and navigating 7 pairs at a time to supercharge your forex trading.

Forex and gold traders can obtain live trading capital and funded trading accounts from third party providers. Hundreds of thousands of traders are receiving funding for their trading account every year from the various capital and funding providers. Any forex trader who has a great trading system and is competent, skilled and profitable, but lacks the funds to trade live should investigate these funding companies.

How Much Capital and Funding Is Available ?

Prop firms provide traders with smaller accounts, but can also provide accounts with $1 million dollars or much more. For example they can provide a trader with $10,000 in capital with 100:1 leverage so you access $1 million in your live trading account for forex or gold trading.

If you start with small account you can double your capital with just a few profitable trades. Also you can open accounts with more then one capital provider, so the amount of capital you can obtain is somewhat unlimited.

Who Are The Best Prop Firms ?

Many companies provide live trading capital for forex traders. There are ratings services like The Trusted Prop and Propfirmmatch.com who provide lists of top 5 and top 10 prop firms. Traders can also follow them on twitter for updates. Prop firms like  FTMO  and the5ers consistently show up in the top 5. Since the number of prop firms is increasing fast, knowing the top 5 top 10 firms is important. Also look for funding firms with 100% payout record. Several traditional forex brokers are now opening funding subsidiaries to further legitimize this industry. You can also find independent ratings on websites like Trustpilot.

Advantages Of Using Capital From Prop Firms

If you dont have a lot of capital to properly fund a live forex trading account, prop firms will provide you with a much larger funded account. Even if you have the funds you may choose to use a capital provider and keep all of your funds invested. Most capital providers have an 80% profit split, you keep 80% of the money you make on your forex trades. Some capital providers have paid out over $50,000 on individual payouts and some prop firms have already paid out over $50 million total. Capital providers absorb the losses on he account so your risk of loss on bad trades is eliminated.

Procedure For Success

Find a trading system you really like that makes pips, then demo trade that system until you are confident. Review some the top 5 or top 10 funding providers and ask alot of questions. Then go a head and apply for funding with the one you prefer.

Funded Forex Trading Account

What is the End Game?

Why would someone obtain trading capital from a third party? Where do you want to be at the end of the journey? Our take: Your goal should be to trade successfully and split the profit with the funding provider. Take some withdrawals and build your own fund to open your own self-funded forex brokerage account for self-trading. Then close the funding account. You can always open another one later. An exception would be if you are getting a 90/10 split and have access to millions of dollars in capital and are happy with everything. You would only stay with a capital provider for the long term if the terms and conditions were exceptional. Otherwise open your own trading account and fund it yourself with capital provider withdrawals. Before starting the process make sure you understand your goals.

Trader Profile For Using A Funded Account

Basically if you do not have the necessary funding to fund your own account, but you have good and consistent trading skills, you are a candidate for usinga prop firm. Ideally, you should have a trading system that you like a lot, and is effective at making pips. Second of all you should have already set up a demo account and be demo trading the system you like, with at least some level success. With those two criteria in place you should start reviewing the funded forex account providers and look for a provider that fits your needs. If you are a rookie forex trader with little experience, you should avoid all live trading capital provider programs, you are not ready yet. Some traders have lots of capital but still want access to “other peoples money” orto keep their money invested in other investments.

As far as trading systems we believe you should have a rules based trading system, like the Forexearlywarning trading system. If you can consistently make positive pips when you use it, week after week, you should be ready to apply for funding.

Regardless of the trading system you select, you must like your trading system and understand it well via demo trading or possibly micro lot trading. You must be skilled at entering trades and managing trades with stops and scaling out lots. Forexearlywarning offer thorough market analysis, more exact trade entry points across 28 pairs, and very little drawdown on trade entries. The low drawdown will comply with most capital and funding programs.

Great Trading System To Use

Tradrs can trade various assets with a funded trading account. Some funding firms allow liquid assets like spot gold, forex pairs, equity indexes, futures. If you are interested in trading the top 28 forex pairs plus gold, please consider the Forexearlywarning trading system. It is a high profit potential trading system with a low drawdown. The Forexearlywarning trading system is easy to demo trade until you are consistent, then you can applying for a funded forex account.

Forexearlywarning provides daily trading plans for 28 pairs, and we focus on the higher time frames and trends, H4 and larger. The higher time frames will get you more pips and profits than scalping the same pairs over and over with technical indicators. Forexearlywarning also has professional alert systems and an excellent trade entry management system, The Forex Heatmap ® forex heatmap. The heatmap will assist with low drawdown trade entry points that satisfy most of the capital providers rules and guidelines. Also check out our gold trading system with correlated pairs chart setup, which we believe is the best gold trading system available.

An example trade signal for the GBP pairs on the heatmap is shown below, consistent, clear signals like this for trading are powerful and traders will have very little drawdown on trade entries, as to fully comply with the drawdown rules from most capital providers. Also, the GBP pairs are volatile and the total movement cycle was about 125 pips on the trade below. Strong results for any forex trader. This system works for the GBP pairs and a total of 28 pairs.

Live Trading Capital, Funded Forex Account

Funded Forex Account, Forex Funding

By offering 28 pairs plus gold, the Forexearlywarning trading system matches or exceeds the most actively traded and most liquid pairs in most capital provider programs. The heatmap system will provide traders with much lower drawdown on trade entry points so almost any capital program can be used.  With the Forexearlywarning trading system, you can easily make 10% on your account balance on one swing trade based on the H4 time frame. This will qualify you for more capital on some of the funded forex account.

Other advantages of using the Forexearlywarning trading system are that is can be easily demo traded. You must understand and like your trading system and enjoy using it before you apply for any third party funded account.

Conclusions about live trading capital programs: A large amount of capital is available to forex traders to fund their live accounts, and we predict that even more capital providers will be available going forward. The industry is growing. Any program that offers a fully funded forex trading account, that also covers your trading losses sound like a great offer.

Traders who have no capital or just a small amount of capital, who are skilled at making positive trades, should evaluate these funded forex account providers. Traders should remember that the trading rules vary between providers, so read each capital providers’ rules carefully, get everything in writing, like the fee structure and drawdown limits.

Finally, make sure you have a trading system that you believe in that is effective at making pips. We have a logical trading system at Forexearlywarning.  With a trading system like Forexearlywarning plus third party funding, a forex trading business is possible for very little cost to the end user/trader.

Our forex mobile app and push alert system is on the Telegram App.  This unique forex mobile app will send traders an immediate push notification to all of their Telegram enabled devices when the forex market starts a new, consistent movement across any of the 8 currencies we follow. This includes the USD, CAD, EUR, GBP, CHF, JPY, AUD and NZD. A total of 28 pairs.

How Do I Get The Telegram Push Alerts?

Download the Telegram App to all of your devices. Email us at the admin@ email address. We will send you the link to enable all of your devices for the push alerts.

Telegram Devices

The push alerts can be sent to any desktop or mobile device or operating system listed above like iOS, Android, Linux and all web browsers.

How Does The App Work?

The app scans the market every 5 minutes for consistent momentum building on the top 8, most liquid currencies on the forex market. When the reading are consistent on one currency, the push alert notifications are sent. It is the only app of its kind available to forex traders. Having an alert system that is based on market momentum puts you on the right side of the trade every time.

What Do The Push Alerts Look Like?

All push alerts that are sent have a local date and time stamp based on your device and location. Most desktop and mobile devices will have a popup window notification that can be enabled or disabled inside of the Telegram account or in your phone/device settings menu. They are completely customizable and there is a range of options for audio notifications.

Telegram Push Alerts Screen Output

Notifications are real time. These include popup windows on your devices, red badge alerts and audio alerts, if enabled on your device. When a push alert is delivered the red badge will light up with a number inside of the badge, plus any audio you have set up for the device.

Telegram Popup Alert

Telegram Red Badge Visual Notifier

Forex traders can now be notified on any device during almost any trading situation when strong, consistent movements are starting in the forex market across 8 currencies. Push alerts are sent for all possible situations, like price breakouts, news calendar related movements, unexpected news or world events, reversals, trend based trades, intraday day trades, trending pairs and non trending pairs and swing trade entry points. You be notified via push alert in all situations, many times before news is disseminated.

App Download And Set Up Instructions

To get our push alerts first setup an account at Telegram. Then install Telegram on all of the devices and operating systems you want the alerts sent to. Then email Forexearlywarning at the admin@ email box and we will send you an activation link for all of your devices. The Telegram channel is called the “Forexearlywarning Market Scanner” channel. Once Telegram is installed, the app will be a blue icon on your devices as shown in the image above.

App User Functionality and Tips

App users can compare the push alert notifications they receive to our desktop forex market scanner to make sure the app is functioning correctly. Expect about 20-25 push alerts per week.  On all devices, additional customization is possible. Tap on the “settings” icon or “settings” menu in your phone or device and also inside the Telegram app. End users of the app can adjust the general settings on their phone so the app can be turned on or off. Also, when you get a push alert, set your phone to vibrate and/or ring. On most phones you can go into the “settings” menu again to customize the type of audio, ringtones, and/or vibration you get with each push alert. Audio can be also distributed to a remote speaker if app users enable the blue tooth feature. Consult the documentation for your phone to see what options are available.

What To Do When You Get A Push Alert

Our forex mobile app will alert traders when to check the market conditions. When you get a push alert, check the market conditions to see if the conditions are right for a trade.  Check the signals from The Forex Heatmap® , the trends on the higher time frames, and support and resistance levels, depending on the direction of the trade. Our trading plans will also be of great help in considering any trade, because you will know what pairs are in identified to be in clear trends.

Example: Look at the push alerts on your Telegram App screen. If the app send a push alert that indicates CHF (Swiss Franc) weakness,  as a trader you know that pairs like the CHF/JPY might be dropping or the EUR/CHF and USD/CHF might be rising. Also, since the NZD strength push alert was also sent, the NZD/CHF might be moving up strong and also be a buy candidate. Then check the heatmap signals and market trends on these pairs to verify your trade entry. You would use the same procedure for all 8 currencies and 28 pairs we follow.

Forex Mobile App CHF Weakness

Forex Mobile App NZD/CHF Price Movement

A Unique Forex Mobile App

When searching the web for a unique forex mobile app, traders find that almost all of the apps they see are built by brokers. So the app features might include a quote screen, some basic charts, and a buy and sell button for trade execution. This is fine, but if you don’t know what pair to trade and in which direction you will wind up with a losing trade. Executing trades from a mobile app is worthless unless you know what pair to trade and in which direction. Our app is the best forex mobile app for traders because it directs traders where to look for pairs that are starting new and consistent movements. Our forex mobile app will be widely recognized as one of the top apps available to forex traders to notify then of consistent market movements and volatility.

Other Alert Systems: All of our professional alert systems like news calendar alerts, audible price alerts, email price alerts, etc. are listed in Lesson 16 of our 35 forex lessons.  Always know when the forex market is moving !

Information About Telegram: Telegram Messenger is a globally accessible freemium, cloud-based and centralized instant messaging service. It works on multiple platforms like Android, iOS, Windows, macOS, Linux, and Web. Telegram has 800 Million Active users.

Forexearlywarning has a real time forex scanner that scans the market and signals from The Forex Heatmap® every 5 minutes for new, consistent movements. The scanner works continuously at 5 minute intervals during all forex market hours. The scanner uses currency strength to screen 8 currencies, 28 pairs, for new and consistent movement cycles. When a new currency movement is detected in the market, the scanner gives the end user a flashing desktop notification in your web browser. The alert system can be installed on any tablet or cellphone via browser tab.

The scanner provides flashing visual alerts on your desktop and web browser. When the scanner alerts start flashing on your desktop, you can check the market condition and decide if a buy or sell trade is warranted for any one of up to 28 pairs. This built-in flashing desktop alert system is visible in your web browser, see the examples below.  Use of the real time scanner will result in currency traders being able to catch new movements backed by consistent currency strength or weakness across multiple pairs. This forex scanner system requires no programming and is ready use after you login to our website.

Forex Scanner

Here is what the forex scanner tool looks like. This software app has a simple display and user interface, and price movement creates the scanner signals. When the scanner finds a new, consistent movement starting across one currency, it produces a flashing desktop browser tab notification like the image shown below. The browser tab notifications are a flashing red dot signal when new, consistent currency strength or weakness is found. Each scanner signal is documented with a time and date stamp.

Forex Scanner Browser Tab Notification

Example Use of The Forex Scanner

If the scanner sends an alert that the AUD weakness is coming into the market and sends a flashing alert, traders should check the Australian Dollar (AUD) pairs when the alert hits. If the AUD pairs have consistent weakness after that, pairs like the AUD/CHF will drop and the EUR/AUD will rise. Both pairs moved on the AUD weakness basis with similar chart characteristics. Several AUD pairs including selling the AUD/JPY was possible in one trading session off of one or two scanner alerts.

Forex Scanner AUD Weakness

Forex Scanner EUR/AUD Chart

When the scanner first detected the AUD weakness  movement starting, the percentages on The Forex Heatmap® were low at 0.20%, but consistent, at the beginning of the movement. Then the AUD weakness  continued through both forex trading sessions, including the Asian trading session and the main trading session. These are the best times to trade the forex market. The movement was finally exahusted after the main session.

This type of movement of well over 100 pips on the EUR/AUD allows traders to enter the trade, set stops to break even, and scale out any profitable lots. Traders can then continue to monitor the trade for more upside if they are trading in the direction of the major trends on the H4 time frame or larger. The AUD/JPY and AUD/CHF both had strong movements as well in the same time horizon after the scanner alerts hit. Overall price movement was in the hundreds of pips for the AUD pairs.

This chart setup is some very simple exponential moving averages for the EUR/AUD pair. But you can also set up your charts to view all 7 AUD pairs on one screen using the metatrader profiles. You can migrate from currency to currency 7 pairs at a time using the hotkeys on your keyboard and find lots more pips faster with our heatmap and professional alert systems like our market scanner system push alerts to your cell phone. Professional trading system!

Why Would A Trader Use A Forex Scanner

Most forex traders are pretty lost. They trade the same pairs over and over, scalping on the smaller time frames with technical indicators. If a trader could have a tool like a forex scanner to scan 8 different currencies and  28 currency pairs and point them to the best opportunities in the market with timely real-time notifications, the success rate would rise and pip totals would increase. They would be able to use this scanner tool daily and have a chance to make substantially more pips.

We have seen several forex market scanners or market analyzers, and we believe that this is the best forex scanner available. This is because this scanner is based on parallel and inverse analysis and currency strength trading principles, which are proven, tried and true. Forex traders now know this, and they also know that technical indicators are ineffective and time wasters. Our forex scanner software is built in to our website and runs all of the time during forex market hours. The Forex Heatmap® live currency strength meter also has fully redundant backup systems. There is absolutely no programming needed by the end user.

Our forex scanner tool works for 8 currencies, 28 pairs total.  It scans the USD, CAD, EUR, CHF, GBP, JPY, AUD and NZD pairs for new movements. These are the 8 most actively traded and most liquid currencies.

Scanner Alerts Delivered To Your Phone

If you would like these forex market scanner alerts delivered to your phone you can download our mobile app. The mobile app will send you the same currency strength alerts with audible and vibrating phone notification features.

Besides a Forex Scanner, What Other Tools Do Traders Need

Along with a real time forex scanner, traders need a simple set of trend indicators so they can know the direction of the major trends on the pair they are considering trading. See the images of our trend indicators above. Traders also need one or more alert systems to complete their trading system. We offer several professional alert systems as part of the Forexearlywarning trading system, along with the forex market scanner.

If you are a forex trader and are looking for a real time forex market scanner that points you towards new movements in the market, the scanner/heatmap combination is a proven winner for finding good quality trades. Precision trading and real time scanning of the forex market is now possible. Check out our forex market scanner tool and all of our great trading tools on the Forexearlywarning website.

Here is our free forex audio book and training library for all forex traders and our clients to listen to online on their computer or mobile device or download for free. This audio book is in MP3 format. We have two audio books, the first book is the audio book version of our beginners course, this is 13 audios.

The next group of audios is our 35 forex lessons. Reviewing these audios has been known to improve the learning curve and make it easier for traders to understand our daily trading plans, live trading signals, money management, and all of the details related to our complete trading system. These MP3s are like an audio book that is read back to you in unabridged CD quality 128 kbps

We have illustrated articles to accompany each audio, click on these links to see the forex trading course for beginners and our forex lessons illustrated articles. Beacuse our illustrated articles are such high quality, we feel like this is the best forex trading audio book available.

Traders can follow along and view the written text and images while listening to the audio. The content of the beginners course and lessons is the same as the written articles, our online videos, and audios, but the audio library is presented for traders who prefer the audio format. Listeners can click on the 3 Dot menu on each audio to download to your computer.

Beginners Course Audios

35 Lessons Audios