I’ve added a new Forex e-book to my site — The Forex Trader’s Cheat Sheet. It’s not just a book, but a real cheat sheet which can be used every time you consider opening a new position on Forex market. It has several pages of explanations on how to apply its statistical data and a printable version of cheat sheet for 5 currency pairs: GBP/USD, GBP/JPY, EUR/USD, USD/CHF and USD/JPY. As the authors say — it doesn’t tell you HOW to trade, it tells you WHEN to do it. But it also has recommendations on position target sizing. Forex Trader’s Cheat Sheet is based on the statistical data for H4 timeframe — you can consult it to determine if the trend which you are seeing now is going to last or is it at its end.
I’ve checked the performance of this cheat sheet combined with a simple moving averages cross system and it was quite good. I used GBP/USD on H4 timeframe on the last two months period. Near 80% of all generated trades were profitable with an average profit/loss rate of more than 2.5. Use it wisely :-).
