Trading Forex with RL

Hi everyone,
this is Wilson from the RL Team

I believe you have already witnessed how powerful the RL tools can be in index trading like the SPX, NDX, etc.

However, not everyone has the necessary pool of funds to play securities like SPY, ES, QQQQ, etc. and not every day we are able to capture huge index movements to reap lucrative profits.

We have already highlighted how the RL system works at best for the following type of securities, in decreasing order:

1. FOREX with margin

2. Futures

3. Equities

If you are a RL member, you can access the EURUSD, USDJPY on our website now, but we are in the process of creating new Forex Odds Calculators like USDCHF, GBPUSD and others.

The GBPUSD RL Odds Calculator is shown here for the first time to the public.

Let’s see an example of how the GBPUSD calculator worked today.

Today, 6^th of Oct 2009, we have seen first the GBPUSD spiking up. It went to 1.6048, followed by a fast pull back and then went all the way down to 1.5876.

RL spot on reversal

(Click on the image to enlarge it)

By using the RL Odds Calculators, the correct level to be shorted could be determined in advance.

On the RL Frequency Graph (below), you can see 1.6041 was the most frequent SHORT reversal level.

(Click on the image to enlarge it)

On the Scaling Table below you can see that the 1.6041 level had 56.83% odds to go SHORT.

The odds are the most important factor in determining your trades. When you have good odds on a level, you are no more in a guessing position, and hence the confidence when placing your bets increases.

(Click on the image to enlarge it)

Now, let's see what happened today with the GBPUSD, to see a practical example of how to use the RL Odds Calculator to front run the news...

You can see that these news about GBPUSD only came out at 8:37 GMT (or 4:37 NY Time)

News -Sterling falls due to weak data

(Click on the image to enlarge it)

If you were using the GBPUSD odds calculator to place your trades, your order would have been executed one hour before the news was released and would have been by then widely profitable. This is illustrated by the GBPUSD 10mins chart below.

RL front run the news
(Click on the image to enlarge it)

As a bonus, I’m telling you I am seeing a LONG trade on the GBPUSD today, here, right now!

Again, this is the first time RL Team reveals the GBPUSD CCOC Comparator to the public. Since GBPUSD is currently showing 4 consecutive days down, we decided to show you the CCOC odds in case you wanna try a long play with good odds from here.

From the GBPUSD CCOC table below, we can see that we have an overall 91.19% odds to go LONG at the moment. The odds are very good for a long play, from a CCOC point of view, on Daily, Weekly and Monthly time periods, for the GBPUSD cross. Of course anything can happen, we do not rule out the chances that we may see further downside of GBPUSD, but at this juncture the odds are good for a LONG.

I hope with this post to open up a new world of trading opportunities for you using the RL Forex Calculators.

Please remember a few simple steps that can help you to be profitable in trading with RL:

1. Always trade with odds > 50% on your side
2. Set your Stop Loss at no more than 1/3 of the range above/below the level where you enter your trade

If you are not a RL member yet, you can click here to sign up.

Posted by:

Wilson @ RL Team