The Forex For Profits Mentoring Program is a home study course and system created and presented by Todd Mitchell. The program consists of several DVDs with video tutorials and a number of text manuals which teach you 4 different trading strategies.
Forex For Profits is a trading system which seeks out trends in the market place, both new and established ones, and seeks to capture movements within those trends, both up and down trends. The system can be used to trade multiple currency pairs across various time frames. This makes the system suitable for traders with different trading styles: position, swing, and day trading.
The two types of movements this system deals with are Breakouts and Retracements.
A breakout occurs when you identify a trend that is still going strong and will soon make an additional move in the trend direction. A Retracement is when the current trend in the market retreats for a time, although it is still in play. Retracements often provide a great entry point and can yield considerable gains.
Forex For Profits teaches 4 different strategies which can be used in various trend conditions. Each of the 4 strategies is explained in video with numerous trading examples. The training material is quite vast so plan some free time to be able to go through it all. The good thing about this is that when you go through it all, you gain a solid grasp of the 4 trading strategies.
Each of the strategies comes complete with detailed entry and exit guidelines along with risk management price guidelines to help you trade with little risk and full control.
I believe that this system provides a lot both in terms of the actual trading strategies and in the overall education Todd Mitchell shares during the course. If you’re looking for a solid system to trade Forex with, I believe this is a great option.
