Are Logical Forex Magnets Magical?

Sometimes I wonder if Logical Forex Magnets are “magical”.

What amazes me is that these lines are DRAWN AUTOMATICALLY by the Logical Forex Indicator setup. They are drawn as price moves, not “after the fact”. I don’t have to do anything other than interpret them.

As I’ve mentioned quite a few times, they aren’t support/resistance lines, although at times a Logical Forex Magnet will behave like a support/resistance line…but sometimes the Magnet line acts more like…well…a magnet…sometimes repelling, sometimes attracting, and sometimes with enormous force.

The “trick”, of course, as with interpreting ANY data in ANY environment, is being able to take a quick glance at the “inputs” and making a decision, then acting. For example, the speedometer in your car gives you a source of input to help you know how fast you’re going. You have to interpret it…and act accordingly…like slowing down when a policeman is nearby. :-)

With the Logical Forex Indicators, each one plays an important role in interpreting “the forex speedometer”.

In this particular trade, the Logical Forex Magnets, when combined in a certain way with price action and the other Indicators, gave a clear signal for both the entry and the exit.

*** TRADE #3 (this is the 3rd trade of the day, first in this post)

Magnet Scalp - Click to Enlarge

Magnet Scalp - Click to Enlarge

Exit #3

The Magnets played an important role in the exit, too. Notice how prices acts around the Magnet lines, and how I act accordingly.

Magnet Scalp - Click to Enlarge

Magnet Scalp - Click to Enlarge

*** TRADE #4

Just a few minutes later, another extremely nice trade setup, with strong influences of Magnets along with a “breakout” type of trade, and of course, the ALWAYS vital Logical Forex Flow lines.

Scalping Breakout - Click to Enlarge

Scalping Breakout - Click to Enlarge

Exit #4

Easy exit.

Scalping Breakout - Click to Enlarge

Scalping Breakout - Click to Enlarge

I sure hope you are able to see the things I’m describing. Logical Forex Trading System really does make my trading and scalping fun!

4 Responses to “Are Logical Forex Magnets Magical?”

  1. Greg says:

    Larry…

    I suspect you have been down a similar path to the one I was on.

    You have probably taken many courses, participated in many forums, tried lots of different indicators…yet found most of these things have never made you consistently profitable.

    I know how that feels. I spent an enormous amount of money and time…all seemingly to no avail. I stayed so frustrated, knowing that I was fairly intelligent, but concerned that maybe I might not ever “get it”.

    The Logical Forex Trading System is going to change your perspective. You WILL “get it”.

    Although just about all forex trading and forex scalping strategies work for some people, it doesn’t mean it will work for you. And, what I found for myself was…everything that I had learned just confused me…and I never really got an answer I could swallow from those who taught me or the courses I took. This wasn’t because these things were wrong….they just didn’t work for me.

    Now, I can use an entirely different LOGICAL method, where I don’t have to predict or hesitate or be frustrated. Sure, I lose a few trades occasionally, but when that happens, it’s usually because the market just went goofy on me. Other than those occasional “goofy moments”…the Logical Forex Trading System gives me consistent profitability, partly because the technique allows me to trade using MY best abilities.

    And…I’m confident that the Logical Forex Trading System and Indicators, along with the training videos…and especially with the workshop…we can tailor something that works JUST FOR YOU and YOUR best abilities, too.

    You are probably smarter than most people. You are probably a logical, left-brain, process-oriented thinker. For just about every other trading method, especially scalping, this will make it a struggle for you, yes. And, in some cases, you may even be more frustrated when your forex coach tells you “it’s more of an art than a science”. That always drove me crazy, so, I *did* create a process-oriented, logical, left-brain forex trading and forex scalping strategy that works for people like us.

    So…yes, Larry, absolutely…with complete heartfelt confidence, I *do* believe that you can “do” the Logical Forex Trading System and be that consistently profitable forex trader you know you can be…and I can help you achieve this with the Logical Forex Indicators to start with, and even more so by working with you in a One-on-One Private Forex Workshop.

    Maybe the best thing is…once you have mastered the Logical Forex Trading System (and it probably won’t take you long to do that)…NOBODY CAN EVER TAKE IT AWAY FROM YOU. You can, essentially “print money” whenever you chose. Now THAT is fun!

  2. Greg says:

    Hi John!

    Your 2 month “resting period” may really help you with new insights, and even new abilities to trade. I’ve been through exactly what you describe. If you can adjust your mind to believing that it was YOU who have simply allowed the bank to borrow YOUR money, then trading back into profit will be a fun time for you. In fact, looking at ALL losing trades this way is helpful to me. In other words, if I have a loss on a trade, I just tell myself that I am simply “loaning that money to the bank”…and I WILL recover it in my upcoming trades.

    Of course, when I do that, I have to be especially careful so that I don’t go into a “revenge trading mode”, and try to rush things or take trades that are not high probability setups. It’s difficult to do that sometimes, especially when it seems like may be the broker is “trading against me”.

    Unfortunately, brokers play their games, most often in their dealing platform software. I had a discussion the other day with a broker who eloquently explained how it would not be beneficial nor time efficient for them to trade against retail traders (like you and me) especially with our tiny trading accounts and trade sizes. Of course, that makes sense, and I believe him. But, I also had a screen recording of my trades showing that when I was in substantial profit, the “close the trade button” was “grayed out and unavailable for me to click”. The expected (and received) response was that “the market must have been moving fast and there was no trade available”. Well, the recording showed otherwise. :-)

    I’m not telling you this to implicate any particular broker. They ALL have their methods so that they can make money. I can’t fault them for that, as that’s the same thing you and I are trying to do. And, even though I don’t like how it seems like they may trade against me, it IS their world that I’m entering into. So, I must play by their rules…even if their rules are unclear, challenging, and…well…even unfair to me.

    Part of my “assignment” is learning to work within that environment. If I can’t do that, then I have to find something else to do. And, yes, I debated that for a long time…whether I wanted to “play in their world with their rules”, or not. Well…I chose to stay because…

    They’re not targeting you or me in particular, although it may feel like it sometimes. And, yes, I’ve experienced “odd things” happening on many different broker platforms. It’s not pleasant, but it’s part of the way the industry works it seems. I have factored this in to my trading.

    Occasionally, I’ll have something “nasty” happen to me, but usually if I look at it properly, I’ll see that, most likely, I should not have even been trading at the time those weird, nasty things happened to me. Over time, I’ve been able to identify those “nasty markets” that I need to avoid. In fact, the current NY session for the EUR/JPY (May 18 around 9am-10am US Central) is exactly one of those “nasty markets”. The way price is jumping around, it’s very difficult to trade. Because I have multiple broker quotes running, I can see without a doubt that each broker platform is jumping all over the place, and I can see how each of them “handle the jumpy market”. Some brokers “hold the quote” for a while at a certain price, others move the quote a little higher or lower than the quote of another, etc.

    The bottom line is…you just have to find those trades that are the highest probability, when the market is truly flowing in a real direction, and these ‘broker games” minimize almost into “nothingness”.

    And, that’s where, as you say, “all those lines” come into play. I’m assuming you’re referring to the red and blue horizontal lines on the chart, right? They are actually quite simple to interpret. And, you don’t have to use them if you find that they clutter your charts. However, I have found them to be extremely useful. That’s why I developed them. :-)

    They may look like support and resistance lines. They’re not. They sometimes do take that role, but they’re far more advanced than that.

    If you look around the blog, you’ll see a number of examples of how I use them. And, in the Online Video Training you receive as part of your license (even with a trial), you’ll see fairly quickly how they’ll help you, too. It really is a LOT simpler than it may appear at first glance on the charts.

    So…let’s summarize things… :-)

    1. Flip your thinking around. You’ve been kind to loan money to the bank. Now, trade your way back into profit. :-) You can do it.

    2. The brokers have all the power and are going to play by their own rules. Most brokers, especially when trading small accounts, are going to be especially challenging. That’s just something we have to deal with. As your account size grows, you can find other brokers who don’t “play games with price and fills”…at least as much as the small account-size brokers…but they’ll likely charge commissions, and require a rather large account size. So, just do the best with the broker you have….but ONLY trade when it’s the RIGHT trade…and using the Logical Forex System, you’ll increase the likelihood of taking the RIGHT trade. As challenging as they make it sometimes, Oanda, FXCM Micro, GFT and a few others are okay. Yes, I trade using all of these brokers…and a few other ECN/STP brokers, who charge commission but don’t play the same way… but their own way :-) In the end, it’s pretty much the same for the small-account-size trader. Get your trading account size $25,000+ and it’s easier, and at $100,000+ it’s far easier as your going to be trading “mostly directly” with the banks (Think about it…the broker has to make money somehow).

    3. Learn a system, a method, a technique, that you can apply CONSISTENTLY every day in your trading. It has to be something you’re comfortable with… both in understanding how to interpret the “signals”, so that you have no hesitation in your trading…AND it has to be something you’re confident in, so that you can recover from the inevitable “bad trades” that happen from time to time…AND that you can look forward to trading every day to accomplish your goals and dreams. When you have found these things in combination…STOP LOOKING ELSEWHERE…and just trade what you have learned. Don’t look around for “a better answer”. The answer is within YOU.

    Thanks for commenting. I look forward to working with you. I believe you’ll find that with the Logical Forex Indicators and the trading and scalping system, along with the Online Trading Videos, the constant examples on the blog, description email followups of tricks and tips, and even a private 1-on-1 Online Workshop, you’ll master this quickly.

    I’m happy to hear that you’re ready to begin trading again, and I encourage you to make sure it really is FUN this time….without feeling pressure or stress. After many years of trading in general, and forex in particular, I can tell you that I experience these things every day….low to no stress…because I’m taking only high probability, low risk, “with the market flow” trades…and I’m only in a trade for just a few minutes. It’s a nice way to live.

    -Greg

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