Month: February 2022

Ultimate Pip Scalper 2.0 Setup & More

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Ultimate Pip Scalper 2.0 Setup & More

If you have not yet heard of the ultimate scalper 2.0, then you really have no idea what you are missing out on. In case you don’t know what it is, don’t worry, because we will explain this today. For the record, the Ultimate Pip Scalper 2.0 is a very advanced automated forex trading application.

We have already done an introductory review on the Ultimate Pip Scalper 2.0. However, we will provide you with a quick rundown of exactly what it is and what it can do today. However, what we are really here to do today is to provide you with setup and installation instructions.

Installing and setting up the Ultimate Pip Scalper 2.0 can be somewhat difficult. This is especially the case if you have never used such an expert advisor application before. Therefore, today, we’re going to do an Ultimate Pip Scalper 2.0 setup and installation guide.

Ultimate Pip Scalper 2.0

Ultimate Pip Scalper 2.0 Installation Guide

The Ultimate Pip Scalper 2.0 is not all that difficult to install or to set up. With that being said, you do still need to install it properly in order to use it. If you get any one of the following steps wrong, chances are that you won’t actually be able to use it. Therefore, would you recommend following each and every single one of the steps as closely as humanly possible.

Ultimate Pip Scalper 2.0

Install MetaTrader 4 or 5

What you do need to know about this particular fully automated forex trading application is the fact that it is not a freestanding trading platform. In fact, it is a separate application or expert advisor system that you have to attach to a specific trading platform.

To be specific, the ultimate scalper 2.0 have to be used with either MT4 or MT5. These are the two most popular trading platforms in the world right now, they are completely free, and user friendly.

Simply Google either one of these trading platforms and download it for free of cost. Once you have downloaded and installed Metatrader, you can then move on to the following steps.

Ultimate Pip Scalper 2.0

Purchase the Pip Scalper

The next thing that you will need to do here is to actually purchase the Ultimate Pip Scalper 2.0. Of course, this system is not free, and you will have to make a payment.

For the record, it costs somewhere around $500. Considering that you can easily make this money back in a couple of days, this really shouldn’t be a problem.

Either way, you are going to have to make a purchase. Once you have purchased your copy of the ultimate pit scalper, you should also get a receipt in your email. you should also get the license key for activation in your email.

Download & Unzip The Scalper

You now have to go to Tradeomart.com. This is where you purchased your copy of the Ultimate Pip Scalper 2.0 from. Now, within the website, go to the section labeled downloads and licenses. Here you will be able to find your copy of the pip scalper that you just purchased.

Go find the file named UltimatePipScalper-v2.00.zip. you now have to download this file and all of its contents.

This is a zipped file, so you will need to unzip it. You can use any kind of standard file unzipping software to accomplish this. At this point, you should now be able to find 2 separate files, one called  .eX4, and the other called ,EX5, which are for both trading platforms, respectively.

Copy The Files Into MetaTrader

Now comes the part where most people have a bit of trouble. However, if you follow the steps as outlined here, this really shouldn’t be an issue. So, what you need to do here is to copy your version, or the files, to your Metatrader application.

Within your trading application, you are going to go to the folders labeled either MQL4 or MQL5. Of course, this depends on which version of the Metatrader application you have.

For Metatrader 4, copy the file named UltimatePipScalperMT4-v2.00.ex4 into the MQL4 directory. If using Metatrader 5, copy the filed named UltimatePipScalperMT5-v2.00.ex5 into the MQL5 directory.

Now, in the trading platform, access the navigator. Now, you have to right click on the subtree that is labeled expert advisors. You are now going to right click on it, and hit refresh. You should not be able to expand the expert advisors tree, and you should be able to find the Ultimate Pip Scalper 2.0.

Activate Your Copy of the Ultimate Pip Scalper 2.0

You are now going to have to use your license key to activate your copy of this software, and you’re going to need to set your Metatrader platform to allow it to be used.

First, within your trading platform, go to the tools tab, then select options, then select expert advisors. you are now going to want to check the box that is labeled as allow web request for listed URL.

You are then going to want to add tradeomart.com to the list below this checkbox. At this point, you will also see a section where you can enter your license key period you should be able to find this on either tradomart.com or within your email receipt.

UPS2.0 License Troubleshooting

You may experience a couple of license activation issues, which we are going to address right now.

If you get an error message as follows, Error HTTP(-1): 4060 and HTTP(-1): 4014, you have to go into the expert advisors tab in MT4 or mT5, check the Allow WebRequests Box, and add tradomart.com to the list. Save the settings and restart the platform.

If you get the following error message, Error(86), you have entered the wrong license key.

If you get an error message as follows, Error HTTP(-1): 5020 and HTTP(1004): 5203, then you need to deactivate the security measures on your computer to allow for server communication.

The Ultimate Pip Scalper Setup Guide

You should now know exactly how to set up the Ultimate Pip Scalper 2.0. Stay tuned, because we will also be doing tutorials on how to use this software, profits and results updates, and more too.

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For more trading tips, strategies, methods, and everything in between, check out Andrew’s Trading Channel. Here you will find the world’s best stock market trading school, a trusted day trading school, state of the art indicators and trading tools, Forex and crypto signals groups, and more! 

New Automated Forex Trading System

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New Automated Forex Trading System Release

If you are an inspiring forex trader, or already trade forex on a regular basis, you might be on the hunt for a new forex trading system that can help make your life a little bit easier. The unfortunate reality is that of course, the majority of Forex trading systems out there at this time just don’t really work. Some of them are total scams and most of them just don’t produce any profits.

This is why we are very pleased to announce that there is a new automated forex trading system being released next week. As far as we know, with this new automated Forex trading application is going to be released on Monday February 28th. Now, at this time, we cannot yet divulge certain facts about it, with its name being the biggest one.

We have been sworn to total secrecy, so we can’t tell you what it’s called just yet, but there are some facts about it that we can tell you at this time. This is what we are here to do today, to provide you with a sneak peak of this new forex trading system that will be released after beginning of next week.

New Automated Forex Trading System

New Automated Forex Trading System Coming Soon – A Sneak Peak

Like we said above, there are a few facts about this new automated forex trading system that we can tell you, so let’s do that right now.

  • This brand new automated forex system is not going to be its own trading platform. Rather, it is an expert advisor or application that has to be attached to other trading platforms. As far as we know, it’s going to be used with both MT4 and MT5. No worries, we will be providing you with installation instructions.
  • Something that you might appreciate is that this new automated trading application is designed to trade all forex pairs on all timeframes. this in itself is something that forex traders will definitely appreciate.
  • What is also worth noting is that this new forex trading system is set to be 100% automated. There are many forex trading apps out there, but most of them are semi automated, which means that you still need to do most of the work period however, this new application is indeed going to 100% automated. This means that it does all of the research and trading on your behalf. You literally just have to turn it on, set the parameters, and watch as it generates profits for you.
  • Something else that we can tell you about this new 4X trading system is that it is indeed profitable period now, of course results will vary from one person to another period that said, there has been some preliminary testing done on it, and according to this, you can expect the ITM or win rate to be somewhere around 70%.

The New Autotrader for Forex – Coming Soon!

The bottom line here is that if you want a tool to help make forex trading much easier, faster, and more profitable, you need to wait for Monday February 28th, because this is when the new automated system is going to be released. Stay tuned, because we will be doing a whole lot of writing about it.

Finding the Best Trading Setup

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Finding the Best Trading Setup

One of the most difficult aspects of being a newbie trader is finding the best trading setup for your circumstances. Finding the best trading setup is absolutely crucial to your overall success. After all, a good and profitable trade all starts at the beginning.

Therefore, exactly how you enter a trade is going to dictate how much money you make, or if you make money at all. Generally speaking, this is the case whether you are a forex trader, crypto currency trader, stock market trader, commodities trader, or anything in between.

The fact of the matter is that if you don’t have a good trading setup, nothing is going to go your way and you are most likely going to lose trades. Here, you need to know what the best charts are to find your best trading setups, and this is the case in terms of the time frames.

Moreover, knowing whether or not to use indicators, and which indicators are best is essential to. The fact of the matter is that to make your life is easy and profitable as possible, finding the best trading setup is absolutely essential. However, today we are going to keep things very simple.

We are going to help you find the best trading setup simply by looking at your charts and using support and resistance levels. We aren’t even really going to talk about using indicators, besides the small section at the end. Let’s get right to it and help you find the best trading setups so you can start making money on a daily basis.

trading setup

How to Find the Best Trading Setup

Do you plan on finding the best trading setup for you, looking for a set up where you can determine that the price is going to break out of a key level is essential. This is generally what we are here to look at today, price is breaking out of support and resistance levels.

One of the best things that you can do when finding the best trading setup is to take a look at the triangle trading pattern. Here, you are looking for either uptrending markets or downtrending markets, and here you are looking to create a triangle shape. Once you have created a triangle shape that is complete with corridors, you can then place profitable trades.

The really neat thing about this type of trading setup is that it is very simple and all you need are your charts, as well as knowing how to place support and resistance levels. Moreover, you also need to remember that this is all about trading quality not about trading quantity. The fact of the matter is that if you find a good trading setup, you don’t need the place many trades at all.

The more trades you place, the more risk you engagement, and the more attention you have to pay to all of those individual trades. Therefore, the best thing you can do as a newbie trader is to place one single trade per day where you can make many thousands of dollars of profits.

trading setups

Using the Best Timeframe

One of the things that is very crucial when it comes to finding the best trading setup is having the right time frame to begin with. When you are setting up your trades, especially when using this triangle support and resistance method come what you always want to look at the longer timeframes first. Generally speaking, you want to look at the one day time frame first, you then want to look at the one hour time frame.

Remember that while shorter timeframes are good for some purposes, they really aren’t the best for finding the best trading setup. However, those shorter timeframes are ideal for finding specific entry points.

What you are looking for here is when the price breaks out of that triangle that you just created. This is where you will find the best trades. What you are looking at here are your support and resistance lines. You are going to use those support and resistance lines to place your trade.

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Best Forex Signals

Using Support and Resistance

What you need to know now is how to place those support and resistance lines to find those triangle corridors to trades with. Of course, the point here is for you to see when the price breaks out of one of these corridors, either breaks out of support or breaks resistance.

the next thing that you need to know here is that if the price breaks the upper resistance line, then your take profit is going to be the previous swing high level. Of course, what you are going to do here is to place a buy trade. On the other hand, if the price breaks below the support level, then you are going to want to place a sell trade. The take profit level here is going to be the previous swing low.

trading setups

That said, you obviously don’t want to spend all day sitting in front of your computer waiting for these breakouts to occur. Because of this, it is very beneficial if you set up the alert system in your trading platform of choice.

This way, you can set up your support and resistance levels, and then, when the price breaks one of these support or resistance levels, your computer or smartphone will notify you, therefore allowing you to place a trade very quickly.

However, things don’t end there, because you continue making money. The fact of the matter is that if the price breaks the resistance line, and continues rising, you then want to place a second resistance line up top. This second resistance line is going to be at the next swing high level.

The first resistance line was broken, so it actually becomes your new support line, and you then place a new resistance line. You now have two trading corridors for two trades, the first support and resistance zone, and the second support and resistance zone. Both of these zones allow you to place profitable trades.

trading setups

Finding the Best Trading Setup – Final Thoughts

At the end of the day, if you follow the tips as listed above, you should have no problems finding the best trading setups for you. If you are able to do this, then making profits on a daily basis becomes much easier.

Let’s not forget that there are also many awesome tools at your disposal, such as the UPSI or Ultimate Profit Scalping Indicator. This is an awesome tool that can provide you with simple buy end sell signals that you can then act on.

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For more trading tips, strategies, methods, and everything in between, check out Andrew’s Trading Channel. Here you will find the world’s best stock market trading school, a trusted day trading school, state of the art indicators and trading tools, Forex and crypto signals groups, and more! 

How to Profit from a Stock Market Correction

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How to Profit from a Stock Market Correction

As a stock market trader, one of the worst things that can happen to you is when there is a stock market correction. For the record, a stock market correction is one as stock market index, such as the S&P 500, goes below 10% or more from its high. Moreover, stock market corrections usually last for anywhere from two to four months. Yes, stock market corrections can turn into a bear market.

Now, what we really want to talk about today is how you can profit from a stock market correction. There are various practical trading techniques you can utilize to still make money even in the event of a stock market correction.

 These techniques will allow you to reduce potential losses, and even to make money from a stock market correction. Let’s go over all of the different methods at your disposal too manage your risk and to profit from a stock market correction.

Use a Portfolio Defense Mechanism

Generally speaking, in order to manage risk properly, most would recommend that you never invest more than 10% of your portfolio balance into a single stock. This means that if you have a $2500 portfolio, you shouldn’t invest more than $250 into certain stocks. You also want to make sure that you have a stop loss order that is just 10% under your entry price.

The reason why you want to do this, have 10% allocation and a negative 10% stop loss, is because if you lose a trade, you only really lose 1%. However, when there is a stock market correction, this can still be quite dangerous.  

The official recommendation here, to get through these stock market corrections, is that you only allocate 5% of your trading capital per trade. This also means that you can have more trades open at once. If you allocate 10% of your trading capital into a single trade, it means that you can have 10 trades open at once.

However if you allocate 5% of your trading capital into a single trade, it means that you can have 20 trades open at once. If you keep the stop loss level at negative 10% from the entry price, this means that you’re only risking 0.5% per trade.

Therefore, you want to allocate no more than 5% of your portfolio portrayed, you want to have a negative 10% stop loss from the entry price, with a risk of just 0.5% per trade, and 20 trades open at once. Another part of this defense mechanism is to diversify your portfolio. Simply put, having all your eggs in the same basket is never a good idea.

Follow the Market Leaders

Yes, making sure that all of your eggs are in the same basket is important. However, how do you know which of the eggs you need to invest in. Yes, there are plenty of opinions out there, but they’re not all correct. Fact of the matter is that you are the one making the final call here, so you’re really the only one to blame. Yes, you have to find the right kind of stocks to invest in. The best way to do this is to use a simple stock Screener.

There is one good theory to take note of here, which is that when a price seems too high and risky to the majority of people, then it will usually go higher. However if the majority of people think that up price is too low and cheap, it will usually go lower. When using a stock market Screener, you want to take a look at the 52 week highs, as well as the rate of change.

Stock Market Correction

Using these two features on any good stock Screener, you can then identify the best stocks to invest in. However, before you enter into a trade, just make sure that the stocks in question still need your general trading plan. No matter the case, you generally don’t want to stray very far from your proven and time tested trading strategy.

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Managing Trades to Decrease Risk and Increase Rewards

Of course, during a market correction, you want to decrease your risk as much as possible while also increasing the rewards. Having the highest possible reward to risk ratio is of course what you are looking for.

There are three things that you can do to assist with this. You can allocate small, you can scale in and move your stop loss to the break even point, and you can also use a trailing stop loss. Let’s take a quick look at all three.

First of all, as mentioned above, you do only want to allocate 5% into a single trade. However, remember that you are in a stock market correction, So what you can do here is allocate another 5% of your stock position. However, you then need to move your stop loss to the break even point.

The last thing that you then need to do is to trail your stop loss. This means that you can keep making more and more money while keeping your risk level in check. using a moving average trailing stop loss can be very beneficial in this sense.

Stock Market Correction

Increase Gains When the Market Correction  Ends

Keep in mind that stock market correction is usually end after three or four months. However, a stock market correction can last longer and it may get worse. There’s no fixed rule as to when they will end, so you are looking for a solution, here you want to look at the price.

Here you are looking for the stock index to break and then close above its all time high. If this happens, then there is a good chance that the stock market correction is over. Once this happens, you can then start allocating more money into your investments.

Surviving a Stock Market Correction – Final Thoughts

There you have it folks, you should now be able to survive a stock market correction with ease. Remember, risk management is at the forefront of this stock market correction survival technique.

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For more trading tips, strategies, methods, and everything in between, check out Andrew’s Trading Channel. Here you will find the world’s best stock market trading school, a trusted day trading school, state of the art indicators and trading tools, Forex and crypto signals groups, and more! 

A Guide to Bullish Candlestick Patterns

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A Guide to Bullish Candlestick Patterns

If you want to start being a consistent and profitable trader, knowing what Candlestick patterns are all about is very important. As far as technical analysis is concerned, candlestick charts are some of the best tools that you have at your disposal. These candlestick patterns are ideal for helping you to identify trends and trend reversals in the market.

What we are here to look at today are very bullish candlestick patterns, and what they mean. In case you didn’t know, candlestick patterns usually form at the end of a trend, and they generally signify the beginning of a new trend. candlestick patterns are formed when one, 2, or more candlesticks form a certain pattern. Even a single candlestick can sometimes be an indication of what is to come.

As far as identifying trend reversals go, being able to read a variety of Candlestick patterns is extremely important period today, we want to look at bullish candlestick patterns, which usually form at the end of a downtrend, and signify that an uptrend is going to happen. Let’s take a closer look at how to read Candlestick charts, as well as what some of the most common bullish candlestick patterns are.

candlestick

How to Read a Candlestick Chart

Candlestick patterns have been used in the western world for trading for well over 100 years at this point, and for good reason. This is in part because they provide you with various pieces of information about a security.

For instance, the four things that a candlestick tells you is what the closing price and the opening price was at, as well as what the highest price and the lowest price traded at was during a day.

In terms of the anatomy of the candlestick, that large or rectangular part is known as the body or the real body of the candle. This indicates the link between the opening price and the closing price for a given day. This body also shows you what the price range is between the opening price and the closing price for any given day.

If you see that the real body of the candle is black, filled in, or red, it indicates that the opening price is higher than the closing price, and this is what is generally known as a bearish candle. It indicates that the price opened high, but the bears then pushed the price down, causing the price to close lower than the opening price.

On the other hand, if you see that the real body of the candle is empty, white, or green, it means that the opening price was lower than the closing price. This is what is known as a bullish candle. This is a strong indication that the price opened, with the bulls then pushing the price upwards, which caused it to close at a higher level than it opened.

Those thin and vertical lines that you see both above and below the real body of a candle is what is known as the Wick or the shadow. This tells you what the lowest and the highest prices for an asset was during a given day. Bullish candles represent strength and they are always green.

5 Bullish Candlestick Patterns for You To Know

What we want to do right now is to take a closer look at the five most common bullish candlestick patterns that you need to be aware of.

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Three White Soldiers

The three white soldiers Candlestick pattern consists of three long bullish candles. These do not have long shadows, or any shadows at all. Each candle opens at least halfway above the open of the previous candle. This is a bullish candlestick pattern that forms at the end of a downtrend and it indicates that a bullish reversal is in the works.

The Morning Star

Another common bullish candlestick pattern that forms at the end of a downtrend is the Morningstar. The Morningstar also consists of three separate candlesticks. The first candlestick is a bearish candle, the second one is a doji candle, and the third is a bullish candle.

The first candle indicates a continuation of a downtrend, the second candle shows indecision in the market, and the third candle is a bullish one that indicates that the bulls are back in power. Keep in mind that the second candle should be completely below both the first and the third candles.

candlestick

Bullish Engulfing

One of the most common bullish candlestick patterns out there is known as bullish engulfing. This is a candlestick pattern that forms at the end of a downtrend and indicates that there is a bullish reversal happening.

This particular pattern consists of two candles, with the second candle completely engulfing the first candle. The first of the two candles is bearish, and it indicates a continuation of a downtrend, but the second candle is a much longer and larger bullish candle that completely engulfs the first one, and signifies that the bulls are back in power.

The Piercing Pattern

The 4th bullish candlestick pattern that we want to take a look at is known as the piercing pattern, and it’s also another one that forms at the end of the downtrend. This particular candlestick pattern consists of two separate candles, with the first one being a bearish candle that it signifies a continuation of a downtrend. However, the second candle is a bullish candle, with the gap down closing more than 50% of the real body. This is another strong indication that the bulls are back in power.

candlestick

The Hammer

The 5th and final bullish candlestick pattern that we want to take a quick look at is known as the hammer. The real body of this candle is very small and is at the top with a lower shadow that should be more than twice the length of the real body.

It also has absolutely no or a very little upper shadow. Here, you can see how the prices open and the sellers then pushed the price down, but the buyers then came back into the market and pushed the price back up, with the result being that the price closed higher than it opened.

candlestick

Bullish Candles – The Bottom Line

The bottom line here is that if you could read candlestick patterns, then you’re one step closer to being your consistent and profitable trader. Today, we’ve covered bullish candlestick patterns, but stay tuned, because we will also be covering bearish candlestick patterns.

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For more trading tips, strategies, methods, and everything in between, check out Andrew’s Trading Channel. Here you will find the world’s best stock market trading school, a trusted day trading school, state of the art indicators and trading tools, Forex and crypto signals groups, and more!