We love trading Forex
Our head trader, Mark, has more than 30 years experience in the markets. His experience includes (but not limited to) trading in stocks, bonds, commodities, and Forex.
The other master mind behind Legacy Forex, Peter Visser, has been trading since 2007. Although it is a drop in the ocean compared to Mark, he knows the markets extremely well and regularly trades himself. Find out more about us and how he has thrived in the world of trading.
Many of you already know that the Forex industry is awash with educational vendors, Forex signal providers, and automated Forex systems. This makes it extremely difficult to make an informed decision. How do you choose a reputable provider?
At Legacy Forex we provide Forex signals via email alert and a trade copier EA, which automatically copies trades to your account. Along with the Forex signal you also receive the chart analysis and the rationale behind that particular trade. You don’t need to sit and wonder where this particular trade comes from. As well giving profitable Forex signals, you will start to learn how to trade like a professional Forex trader. Forex trading starts here.
Free Forex Signals
Now that you know a little bit more about us, let me introduce you to our Free Forex Signals. We have a service called the ‘Self Trader’ which is a daily email containing the analysis and a screen shot of the trade we are taking. It is the only unconditional free Forex signal service that we have come across. None of our competitors offers such a service.
We know that to gain your trust in the Forex signals industry we need to prove that we are the real deal. The only way we know best is to show you exactly how we trade for yourself and you can do it absolutely free of charge. When we say ‘Free Forex Signals’ we mean it. It is free for life. It isn’t a free trial, or a ‘try now buy later’ kind of deal. It is literally a way for us to build a community and show the world that we are the best.
What exactly is ‘Forex Trading’. You may have come across Legacy Forex, thinking that you would like to make a bit of extra cash trading the Forex market. About 11 million websites tell you that Forex trading is the way forward and you can make tons of money. That’s great, but what does it mean to trade Forex.
In simplistic terms, Forex trading is the exchange of one currency for another. By placing a trade on your broker platform, you are participating in the Forex market, and thus, you are a Forex trader. This by no means flings you into the money making circles. This is a difficult market and even some of the top professionals lose their heads in this game. Forex Trading is an art and a science. It is a science, because you need to risk management properly and consistently execute your trading strategy. It is an art, because you need to control your emotions and view the market as a living and breathing organism. Read the next section to find out what makes a good Forex System.
A Forex System can be seen as a trading guide which governs the way a Forex trader makes their decisions. Generally, all Forex systems fall into two categories: Technical Forex system or Fundamental Forex system. Let’s first focus on a fundamental Forex trader. They will look at GDP, unemployment, interest rates, CPI surveys, public debt and many more publicly published figures. By analysing this data they determine whether a currency is undervalued or overvalued against another currency. This is normally a longer term Forex system. They may also look to take some shorter term positions by trading off the news announcements. They do this by checking what the forecasted announcements are compared to the actual figures. If there is a big different between the two then there will be some huge fluctuations in the Forex market.
Technical Analysis is the second kind of Forex System we are going to be exploring. The technical Forex trader will look at the charts to make their trading decisions. They tend to look at price action patterns, support and resistance levels, trend lines, Fibonacci retracements and extensions, the list goes on. If price breaks a certain level or bounces off on a key reversal the technical trader will place the trade. Most of the evidence suggest that technical Forex traders are able to generate better returns than fundamental Forex traders. At Legacy Forex we only use technical analysis in our Forex system. We dabble a little bit in the fundamentals, but once something is in the news it is already too late.