Bill Poulos - Forex Profit Accelerator Course

It is the latest trading course from Bill Poulos, a 30-year trading veteran and trading systems designer. His previous trading courses have always been designed to take advantage of high probability moves, reinforced with a strong money management formula.

Forex Profit Accelerator builds upon his prior systems, brining not just one, but four trading methods to the foreign currency exchange market. This has been a much needed course in the retail Forex market, as there have been an increasing number of new traders opening accounts and quickly learning that it is very easy to lose money if you do not know how to approach trading in this highly leveraged environment.

Discovering Foreign Currency Exchange Trading
You can learn the basics of the foreign exchange market from numerous resources. Many of those resources will cost you little or no money, but they will not teach you how to actually trade profitably.

Complicating matters is the fact that Forex has no organized exchange, but operates as a network of banks and other financial houses. Trades are executed over a computer network or even through telephone calls. With no regulation in place, finding a reputable and reliable Forex broker is imperative.

The foreign exchange environment is very different from what many traders are accustomed to seeing. This is a new environment, but if approached with an appropriate level of discretion backed up by a good understanding of how to approach trading it can be a very lucrative place.

The place to begin is to educate yourself about how the foreign exchange market operates. As mentioned, much of this information can be acquired from inexpensive resources. Once you understand that basics behind Forex, you must then develop a method for trading this market. This typically involves a very long development process for those who are inclined to tackle the task on their own, or, alternatively, searching out a reputable trading school.

Introducing Forex Profit Accelerator
Bill Poulos has compiled an affordable home study course. When it arrives at your doorstep, you will find several CD-Roms and a three-ring binder. The course is primarily delivered through video presentations, consisting of six modules. A seventh bonus module has been included for good measure.

Each module addresses a distinct aspect of Forex and each of the four trading systems provided as part of the course. The printed materials reinforce the video presentations and include trading "blueprints" on heavy card stock. These serve as "cheat sheets" for quick and easy reference once you begin trading.

You are not left alone with these materials. Included with the purchase is one year of unlimited follow-up e-mail support, one year of follow-up monthly case study tutorials, plus Q&A webinars. All of this combined not only provides you with the material to learn how to trade, but provides the back-up support to make sure you are able to fully apply the lessons being taught.

Module 1: Foreign Exchange Background & Overview
This module consists primarily of grounding material. Bill introduces the topic of foreign exchange trading and walks you through how this market operates.

Most of the material in module one is freely available from numerous resources, but the author does provide his own unique insight and reveals a few "dirty secrets" about the Forex market.

Key elements of effective Forex trading systems are also discussed and you begin seeing examples of how a sold performing system works.

Module 2: The First Forex Trading System
Having covered the basics of Forex, the first trading system is introduced. This system is not a day-trading system. In fact, none of the systems taught in the course are day trading systems and the whole course is designed so that once you master the four trading methods you can apply them in 20 minutes per day.

Having said that, this first trading method is designed for "quick hit" moves. Trades are expected to last one or two days and achieve profits of 40 to 100 pips with very tight risk management.

Bill Poulos walks you through the specific setup conditions for this trading method and details the entry rules that serve to provide you with a high probability of success. You are also provided with rules for establishing your stop loss as well as profit exits.

There is no guess work here. You have clearly defined rules to put you into the trade, take you out of the trade if things fail to work out as you expected, and to take profits off the table.

This "quick hit" system can be traded to the upside or the downside. Bill provides you with individual instruction for trading in each direction, so as to eliminate confusion when trying to apply the system in one direction or the other.

Numerous example trades are covered, adding to the learning process and allowing you to visualize how these trades set up and play out. Not only that, but Bill Poulos also provides you with cautionary notes to keep your enthusiasm in check. He keeps you in check to avoid trading beyond the limits of the system.

Module 3: Forex Trading On A Longer Time-Frame
The first trading system lets you pull profits from the market on a 1 to 2 day time frame. This second method is designed for 1 to 3 week moves, seeking profits of 300 to 500 pips. It seeks out strong momentum moves and puts you into the trade at the most opportune time to reduce the risk of a counter trend move forcing you out of the position with a margin call.

Specific setup conditions that identify the trade opportunity are covered. Once the setup conditions are present, Bill Poulos covers the entry rules that keep you out of weak trades. Initial stops and profit exits are also detailed.

Keep in mind that once learned, these systems will be applied in about 20 minutes time each evening. Using the specific criteria, you will be able to enter positions and go about your usual day without concern for what is happening in the market. Your orders will execute to keep you out of trouble or to capture profits, while you are elsewhere. There is no need to spend the day in front of a computer.

A more sophisticated money management system is employed in this second system, as compared to the first. A staged profit exit is used so that a successful trade eliminates risk of loss while positioning you for further profitability.

This system can be traded on up-trending or down-trending stocks, in the favor of the prevailing trend. With this trading method, you ca expect several trading opportunities each year on the major currency pairs.

Of course there are drawbacks, but Dr. Joe has been trading these types of positions a long time and has learned how to manage them effectively. The bottom line is that the LEAPS give you more "bang for your buck" due to their lower cost.

Module 4: Enhancing Forex Currency Trades
The third trading method also seeks 300 to 500 pips on trades of 1 to 3 weeks duration. The strategy is entirely different than that covered in the prior module, but compliments that method. When used in combination with the prior trading method, you have a higher probability of catching major moves in the currency markets.

Like the prior two trading methods, Bill Poulos provides specific set-up criteria for identifying the trading opportunities. Combined with the trade entry rules, you are left with a very effective method of entering the market.

A stop order is used to limit losses from the moment the position is opened, with profit exits defined as of trade entry. This strategy also stages the profit exits so as to protect capital while still providing continued upside potential. These staged exits guard against premature market reversals that tend to turn profitable positions into losing positions.

Just as with the prior systems, this method provides for trading both to the upside and downside. Plenty of example trades are detailed on the videos so that you develop a solid understanding for this, as well as the other trading systems.

Module 5: Forex Trend Reversal Trades
The first trading system covered in the course seeks quick profits by trading in concert with the prevailing trend. The second and third look for larger profits over a longer period of time, also in concert with the prevailing trend. These are trend following strategies.

The fourth trading method is a counter-trend strategy, which seeks to profit from reversals in the prevailing trend. The goal is to grab 100 to 300 pips on a trend reversal using well defined setup conditions and entry rules to identify the opportunity and enter a position in the market.

Like all of Bill Poulos' trading systems, strict attention is paid to risk management so as to protect capital against losses. This system works for reversals off an up trending market, as well as reversals in a down trending market.

The major currencies tend to experience trends that last over extended periods of time. As such, you will not see these reversal opportunities as frequently as you will find trend following trades. However, when one of these opportunities does present it will be worth trading.

Module 6: Forex Profit Accelerator In Your Account
The four trending methods provide you with three ways to benefit from the extended trends you are likely to find in the currency markets. A fourth strategy helps you identify reversals in the trend and benefit from them.

Mastering these four strategies is not sufficient for success, however. This 6th module provides guidance as to how you can incorporate the Forex Profit Accelerator strategies into a practical application within your trading account.

Bill Poulos provides further guidance as to risk management, discipline and the psychology of trading the currency market. He also provides you with some information about his Forex broker and how to use their trading platform.

Specific rules for position sizing are outlined, keeping the risk to your trading capital to a minimum on each trade. There are also specific rules concerning the total number of positions you might have open at any given time. Combined, these rules keep you solvent and "in the game" long enough to overcome the occasional draw down and resume profitability.

The next phase is to combine these four trading strategies with Bill Poulos' money management rules. He demonstrates how these trading strategies are designed to be used in combination with each other, allowing you numerous opportunities to take advantage of trends within the currency market while controlling the risk to your trading account.

Forex Profit Accelerator is a truly elegantly designed, multifaceted trading system. It does not end there, however. Bill Poulos knows enough from his 30-years of trading experience to understand that no system is a good fit for every trader.

You can give ten traders the same set of trading rules and you will have ten different trading results. The reason for the disparity in results is because we are human. In Module 6, Bill Poulos recognizes this basic fact and provides some guidance for personalizing your trading style and adapting the methods found in Forex Profit Accelerator to your own needs.

The Bonus Module Provides Forex Basics
If you know little or nothing about the foreign exchange market, you will benefit from the bonus module. It provides an overview of the Forex market, identifies the major currency pairs, and explains how they are quoted and traded.

Bill provides a tutorial on how pips are calculated, the leverage afforded in the Forex market, explanation of margin requirements, and review of different order types. Some trading basics are also reviewed, including the use of fundamental and technical analysis, and how to read price charts. Popular technical indicators used in the Forex Profit Accelerator trading methods are reviewed, so that you can keep pace with the discussion in Modules 2 through 5.