Step By Step Guide to Using The Forex Heatmap (TM)
This presentation was made at the International Traders Expo in June of 2009.
This is The Forex Heatmap (tm)
The forex heatmap is the premier entry management system for your spot forex trade entries.
It verifies all of your trade entries on over 20 currency pairs.
It is a real time indicator, tick for tick, and is on all of the time during the market from Sunday night until Friday and the GMT clock is on top.
Its arranged by parallel and inverse groups. The eight major pair families, USD, CHF, EUR, JPY, GBP, AUD, CAD, and NZD pairs are grouped together.
There are 20 currency pairs on the forex heatmap, each pair is in two slots for 40 total entries. For example the EUR/USD is in the EUR group and USD group.
The forex heatmap instantly spot pockets of strength and weakness in the forex market. It is a visual map of the forex and easy to interpret, even for new traders. It consolidates information from 20 currency pairs into a visual map for quick decision making.
You can refresh the forex heatmap by hitting the F5 button on your keyboard or right clicking on the browser and clicking on "reload".
How To Read The Forex Heatmap
GBP strong CHF weak buy GBP/CHF
GBP weak CHF Strong sell GBP/CHF
Both strong dont trade, both weak dont trade.
Transfer this logic to any pair
Example Heatmap Configurations
USD/CHF buy example.
GBP/JPY buy example.
EUR/JPY buy example.
Mixed Signals example.
Putting The Heatmap Into Context
1. Know the direction of the primary trend of a currency pair
2. Set price alarms at critical support and resistance
3. Monitor the news calendar for volatile news announcements
4. When alarms go off and the volatile news items hit check the heatmap for entry verification
At Forexearlywarning we prepare trading plans that follow steps 1-4 every day across 22 currency pairs, and all of our clients have access to the live heatmap on the web. Our clients love the forex heatmap and they know it is a strong trading tool. At Forexearlywarning we write trading plans based on market trends and we tell you where to set the price alarms. We also have a 30 day free trial.
The Forex Heatmap comes with a complete learning materials package including videos, an image library and a full tutorial are available.
Acknowledgement
We would like to thank our tradeshow partner, PFGBest. They offer several trading platforms including the Metatrader4 ECN platform that facilitates the use of the free trend indicators we use at Forexearlywarning.
In summary the forex heatmap is a real time visual tool that verifies your spot forex trade entries, it is unique, but simple and it works. After about 30 days of papertrading you should be be able to start with small amounts of of real money. The forex heatmap will dispel alot of myths people have been taught about the forex and it will teach you that there is no indicator better than the forex market itself.
Mark Mc Donnell
Forexearlywarning
The Forex Heatmap
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