Let Me Show You The Power Of Forex Trendy
Is Forex Trendy A Scam? This Forex Trendy Software Review Will Clear The Air.
Everyone has heard the horrible statistics about you ever finding trading success:
- Over 80% of day traders quit trading in two years.
- Nearly 40% of people day trade for only one month
- The most experienced traders lose money - over half of all day trading is traced to those with a history of losses
But that does NOT have to be your future!
A friend pointed me towards Forex Trendy and asked me, as someone who actually trades (unlike the marketers on Youtube with their fake user review), what I thought about this trading product....from a traders perspective and would I give a full review.
I got a membership to the online portal so I could give you an honest evaluation and I was happily surprised and look forward to sharing this review with you.
What is Forex Trendy?
To put it simply, Forex Trendy is an online based tool that will scan over 30 Forex pairs (plus gold, silver and oil) looking to find which pairs are currently trending on the time frame that you decide.
Do you have time to scan through all the Forex charts that are available for trading opportunities? Me neither so I was already quite pleased with with this trading software offered.
Once you are a member, you will use a login to arrive at the members home page where you are presented with a selection of Forex charts (don't worry, you can select only the pairs you are interested in).
Here we have the AUDUSD Forex pair so let's break down what this section of the members area is telling you.
A. This tab is where you will find the listing of all the charts that you have selected in Forex Trendy that actually have a trend in play.
B. Patterns will be explained later but for now, this is the area you will go to find chart patterns in the pairs you have selected.
C. Setting is where you select the currency pairs, time frames, patterns, email alerts
D. This will tell you the direction of the trend on various time frames and is great for multiple time frame traders.
E. This will tell you the quality of the trend. The higher the %, the lower quality of trend you are facing.
There Is No Forex Trendy Free Download
All of this scanning is done via "cloud" so there is no download needed or the tying up of your CPU usage. This scanning feature alone is worth its weight in gold.
Regardless of the trading system you use, Forex Trendy can help ensure you are actually (and objectively) trading a trend and are not involved in "chop and slop" type of trading conditions.
This is an extreme time saver; you can even set an email alert that will tell you when the quality of a trend falls line with your parameters. You can then log into your own trading platform/broker platform and see if your trading system is setting up an opportunity.
The ONLY free download of anything related to Forex Trendy is the following PDF
Understanding the Myths Of Market Trends And Patterns
Find Profitable Trading Patterns "In Play" With Forex Trendy
You've probably heard about trading patterns such as "bear/bull flags", "wedges", "triangles", and understand that trading those can be part of a profitable trading system.
The problem is scanning literally hundreds of Forex charts each with different pairs and time frames.
Another HUGE problem: It can be extremely difficult to spot these trading patterns objectively and to be ready to take action when they break.
This chart is taken from the "emerging patterns" section of the members area. You are alerted to the formation of a chart pattern and can be on alert to take action when it breaks which could be a trading signal for you.
A. Here we have the name of the pattern and where it has formed on the chart.
B. This will give us not only the currency pair but also which time frame and the trend direction.
C. You want to have an idea of where to take your profits and these are the price points where you would take profits.
Trading Chart Patterns
When a price pattern breaks, there are a few ways you can trade them.
- You can trade the actual break of the pattern using a stop order to get you in the market
- You can trade the price action that forms after price has broken out
- You can trade a break of the high/low of the candle that breaks the pattern with momentum
The AUDJPY chart above is a forming pattern but with Forex Trendy, you can also get involved with patterns that have broken!
This chart is from the completed pattern section and I think you will be impressed with this trading opportunity. Even though the pattern broke out, you can see the pullback (red candle) that allowed a second entry.
FYI: I use stop orders so I would wait for the break and then play a break of the breakout candle. I like to have momentum in my direction if I am going to risk my capital on a position.
A. You can click on any of the completed pairs and this type of chart will present itself with date, time, and price of the breakout.
B. This will tell you what the pattern was and you may have a different trade plan depending on the pattern.
C. Profit targets are listed which allows you to set and forget.
When I screen captured this chart, price was at 117.73 (already hitting two profit targets) and was up 393 pips! This one trade takes care of the Forex Trendy membership price for a massive amount of time.
SHOULD YOU BECOME A FOREX TRENDY MEMBER?
I covered a lot of information in this review and showed you the features that are reserved for Forex Trendy members. Let me give an explanation of the two big features that this trading tool offers.
Do not ask me for a free download of this product because when you see that it on Google, it's simply click bait by a marketer.....there is no product download.
- Unless you are an experienced trader, you want to trade with the trend. You don't want to be trading inside of choppy price conditions nor do you want to try your hand at counter trend trading. You will lose.
- The trend scanner is a superb piece of software that will not only give you trending time frames and currency pairs but also the . While not a system by itself, knowing the trend and trading that direction can save you a lot of money
- The chart pattern scanner is another A+ tool. Many traders use chart patterns successfully but the key is to know what the pattern looks like and when it sets up. I trade bull and bear flags after a momentum move in price and have my time frames that I like to use.
- Understanding and trading chart patterns can be an edge if you employ proper risk protocols and Forex Trendy gives you the tools to find and trade the same chart patterns that many traders make a living with.
YES! You Should Absolutely Become A Forex Trendy Member
You know I don't recommend a lot of trading products but with the trend and pattern scanner PLUS the completed pattern section and price targets, I think it is an outstanding product that will only help your trading, save you time, keep your trading objective and get you on the way to finding the trading success you seek.
Great value for only $37 quarterly (That's just $3 a week or 60c per trading day!) You can cancel at any time.