The Forex Income Engine 2.0 System is a collection of 3 trading methods for Forex day traders and was created by Bill Poulos, a currency trading veteran and a renowned educator of other traders.
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What is the Forex Income Engine 2.0? Is it worth the price? Is it the right currency trading course and system for you?
I had the honor of getting a review copy of this course by Bill Poulos himself and so I will answer all these questions in this detailed review of Forex Income Engine 2.0…
Why most Day Trading systems don’t work?
There are a number of reasons why most trading systems that you can get today don’t work:
- The system is incomplete – You don’t get step-by-step instructions on how to act at every point in the market.
- Fundamental analysis – The systems put too much weight into fundamental analysis which takes a lot of time and not technical analysis which is relatively fast to use (if don’t right).
- No risk management – Most systems pride themselves on a high accuracy rate but fail to expose how much you lose on a single losing trade. Warning: most systems may blow your account with a single bad trade.
- Take too much time – Most Forex day trading systems require you to stare at charts for hours each day, making this a second job instead of a passive second income.
To be blunt, most trading systems are untested, imperfect, and totally unsafe.
That’s where the Forex Income Engine 2.0 comes in…
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What is the Forex Income Engine 2.0?
This collection of trading methods was made specifically for people who wish to day trade the Forex market in a safe and easy manner. By safe I mean that every trade that you make will have strict risk management guidelines which will protect your money. By easy I mean that each of the 3 trading methods in this system has easy to apply setup, entry, and exit rules.
The trading methods themselves are all crafted to capture quick profits in the market (within 1-5 bars). You can work with any time frame that you feel like. It’s entirely up to you. In total, you can expect to be in front of the chart for less than an hour each day and still be able to produce a great profit over time.
Bill Poulos developed this system to help people make Forex a liberating factor in their life and not something to spend hours on.
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Forex Income Engine 2.0 key Concepts
- All the methods are easy to apply as they work with just 4 technical indicators and uncommon, yet powerful, trading tactics guaranteed to give you an edge over other traders
- All the 3 methods have specific setup, entry, and exit guidelines to help you maximize profit potential
- All the methods have strict risk management guidelines to help you minimize losses
- All the methods are based on technical analysis which is easy to understand and follow
The Forex Income Engine 2.0 Home Study course begins with a comprehensive basic tutorial of the Forex market (perfect for beginners) which you can skip if you’re already an experienced trader and goes straight into the trading methods themselves.
The 3 trading methods are:
- Ignition method
- Overdrive method
- Spring method
I’ll briefly go into them all…
The Ignition Method
The Ignition method helps you to identify trends which are going into a short corrective move just before they continue on the trend’s original direction. This works whether the market is going up or down and can be used with any time frame.
This video module of Forex Income Engine is about 98 minutes long (and I watched all of it) and is highly detailed and clear.
You will be going after 10 to 50 pips profit targets and the trade will be open for 1- 5 bars (at any time frame)
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The Overdrive Method
Often, when the market is trending, the trend begins in a weak fashion and then goes into what Bill Poulos calls “overdrive” in which it picks up momentum and can make a huge swing very quickly.
Again, you will have detailed instruction in this hour long video module, along with trading examples and so on.
You will be going after 30 – 100 pips profit target and the trade duration will be 1- 5 bars (on average).
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The Spring Method
The Spring method will help you identify big counter-trend swings in the market and capitalize on big and quick moves. You will strict risk control guidelines as well as the specific entry and exit rules.
The 67 minute long video module will help cover all you need to know regarding this method so you’ll know exactly what to do in real market conditions.
You will be going after 30 – 100 pips profit target and the trade duration will be 1- 5 bars (on average).
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One big trading method
While all these trading methods can work independently, their real power comes from combining them all into one flowing arsenal of methods which you can use. Therefore, it is important to master all 3 methods to achieve the highest profit potential that this method provides.
Risk Management
In addition to the 3 trading methods, Forex Income Engine 2.0 also has a 46 minute long module which covers risk management, which is one of the strengths of Bill Poulos and will help you keep your money safe during your trades so that you never lose more than you were willing.
You will learn how to manage your trades, how much to trade at any given time, and so on. Super important module, the like of which I have never seen in any other course.
Brokers, charts, software, and platforms
There is also an 85 minute long video module which covers all you need to know on how to pick the right broker, how to use the charting software and the various platforms. You will be quite comfortable with technical analysis after you go through this module. It’s that detailed.
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What you get and Forex Income Engine 2.0 Benefits summary:
– 7 CDs + In-depth Manual – perfect for self-paced learning
– Teaches 3 unique methods to trade forex
– Provides detailed video trade analysis
– Essential tools for intra-day trading
– Multi-part Forex basics course (included)
– Specific risk management learning segment
– Technical Analysis “Basic Training”
– Charting software and broker platform overview
– Profit “Blueprints” for easy trade planning
1 Year Unlimited Support
One thing which I like about Bill Poulos is that he doesn’t leave you to work things out for yourself. Once you become his student he is dedicated to your success. This is why anyone who becomes a Forex Income Engine 2.0 student gets 1 year of unlimited support from Bill Poulos and his staff.
You will have access to a special members website with ongoing additional education and support. You will have periodic extra material geared toward making you a more successful and independent trader. This is a great resource and a terrific benefit.
In addition, you also get 8 weeks of semi-private coaching to help you get started working with FIE 2.0 the right way. This kind of direct access to Bill Poulos is in itself worth the price of the course.
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In Conclusion
Forex Income Engine 2.0 is one of the most comprehensive courses that I’ve ever had the pleasure to learn from. It’s easy to understand and to apply (though it does have a learning curve), and it can help you to make more money.
Of course, it’s not perfect and you will have losing trades. But if you stay the course, you will place high probability trades which will help you to make more money. It’s as simple as that.
This is a course which first of all teaches you how to guard your money and only then to see how you can make more. You will have a detailed trading method to follow and will have the ability to trade independently and profitably.
I recommend this course to traders of all levels.
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