Back when I was new to trading, I decided to apply for an online course to understand Forex’s patterns better. And after a long search, I finally found the best one that I would like to tell you about.
One of the things that attracted me to the course was that it shows you the logic behind each Forex pattern and number instead of just filling your head with useless numbers and equations.
There was a nice sales pitch as well – before buying the course, you can download two PDF documents for free. And after reading every page of these PDFs, I can see why the authors are so sure that people would return to the site to purchase the course.
The first PDF contained information about what makes a successful Forex trader, and the second one explained the most common reasons of failure at Forex. I liked this approach since I understood what I should and should not do just by reading two concise documents. But, obviously, there were some secrets not revealed in these documents so I went back to the site to purchase the course as well.
Surprisingly enough, the course stressing the importance of such indicators as resistance, support, time and velocity of price (after which the course was named ‘Velocity Breakout System’ or VMB) was easy to read and not overburdened with scientific terminology.
The course says that you need to make investments using valid resistance and support. However, you cannot make any predictions whether the level will hold or not – this means that you are guessing and losses will follow.
Apparently, you also need to be looking for price momentum in order to make a profit. If price momentum is negative, you can forget about the trade.
You should also follow the momentum or velocity of price in order to keep with the trend.
Is it a workable solution?
After using this system, I discovered that my account equity increased to 57% on just three trades in four months, so this system has been pretty reliable so far.
But I should warn you, the VMB is not for you if you like to make trades frequently. This system tells you to take a slow but steady approach – to make money without making hasty trades and taking unnecessary risks.
As I told above, this is not a dumb system that gives you numbers that you should use. You can make changes depending on your preferences and inclinations. You can just personalize the system by using the logic explained in the course.
Explaining the logic underlying this system is what made me to stick with the VMB though I have tried plenty of other systems. Other guys just gave “blind” instructions that were of no use to me. And this course is clearly written by professional traders, not just people who are trying to sell you an e-book.
I also liked daily and weekly real-life reports published on the website. You can get insights into others’ experience and receive strategies and trade set-ups for free for two months. All I had to do is to follow their reports and make mental notes.
Overall, if you are a beginning trader and need some tips, the VBM is a pretty good course. The authors do not promise you an instant result – they just provide you with tools that you could use to make profits, as I have.
And, finally, even if you do not want to shell out money for the course, you can always download the PDFs for free without providing any information about you.