Michael Nurok – Forex Precog + ESP Trade Assistant
If you are interested in the forex market and wants to learn FX trading, you have to understand that the foreign exchange market is a very risky market to invest in. The forex market is the largest financial market in the world and it operates 24 hours in a day. Take note also that currencies around the world change in value every now and then and some even can change value so abruptly. Given this, without enough preparation and skills, you can lose everything easily.
Forex is an age-old trading concept that has garnered a lot of attention from traders spread across the globe due to its dynamisms and the profitability it tends to generate. However, not every trader is capable and experienced enough to analyze and predict the forex trends with perfection as a result of which they can lose their hard earned money. Thankfully, in order to bring ease in forex trading, a number of trading software have been launched in the market from time to time that can help and guide forex traders to profit in the market.
Forex Precog being the latest one on the block. It is brand new trading software that helps forex traders improve their results or that’s what it promises to. Now whether this product is worth your time and money, let us find out in our in-depth product review.
What is Forex Precog and how it is beneficial for you?
Forex Precog is essentially a trading program that assists and guides every forex trader, full-time to rookie to learn the tricks of mastering forex trading. It’s simple to use and completely hassle free and is essentially based on custom indicators that are called precogs that let a trader identify high-profitability and high return areas who can thereby proceed to take advantage of the market volatility without giving a miss to the right forex opportunity.
This comprehensive trading program is developed by none other than the Guru to the Gurus, three time winner of the Surefire Trading challenge- Mr. Michael Nurok. Michael has been a known face in the forex trading who has earned millions of dollars due to his pro-active approach and noteworthy ability to sense and detect the right time to trade. Forex Precog is being regarded as his finest product till date due to the comprehensiveness and features that it tends to offer to its users.
Nevertheless, if you are a risk-taker and you an handle uncertainties well, then you can learn trading by using Forex Precog to prepare yourself in making good money in the forex market. Here are the basics that you may want to learn to become a Forex Trader.
Here is what you get with Forex Precog
DVD #1: An Introduction
It’s important that everyone who does manage to get a copy of Forex Precog at least listens to the introduction in DVD #1.
There is important information in this introduction about both the physical package and the private Members’ Area access.
After the introduction, the first DVD is designed especially with the beginner in mind.
More experienced traders might skip the rest of this DVD, but personally, I think everyone should go through each DVD. They are not long and you don’t know what you don’t know.
The DVD is broken down into sections.
Part 1. Introduction to Forex Trading
The first section covers the basics of what Forex is and how the Forex market works.
Many people are surprised to learn that Forex is the largest, most liquid market in the world, and one of the most traded. There are reasons why many of the wealthiest traders in the world trade Forex, and it’s all explained in the first section.
Part 2. Trends
There is an old saying in trading that the “trend is your friend.” Before the trend can become your friend, you have to know what a trend is and how to spot it. By the time you finish this section, you will be an expert on trends.
Part 3. Trends Within Trends
One of the big advantages of the Forex Precog is its ability to spot trends within trends several layers deep.
The market can produce a huge array of possibilities of trends occurring in multiple time frames. What we’re looking for is a set-up opportunity that represents a trend within a trend. Even better, a trend within a trend within a trend. In fact, there are 9 time frames typically represented in trading platforms, so we want to see the trend in as many as possible.
We want several trends in different time frames to all agree where the market is headed. While the software basically does this for you, it’s important you understand how to spot trends within trends.
Part 4. Swing Trade Trends
In all trends there are further moves for, and contrary to, the trend. These are what we call swings. We need to be aware of swings against the trend, both for trade management and to leverage in possible trade setups.
What we want to look for the most part is swings in the direction of the trend. These tell us there is movement in the price in the trend’s direction and that there is an increase in momentum of the trend.
It is these setups that allow us to add to existing positions or enter positions after a trend pull back.
Once again, the custom indicator software that is included will validate these swings but it’s important you understand how to use it.
Part 5. Trading Different Time Frames
Trading in multiple time frames is difficult. Particularly if you are also trading different currency pairs. The more you add to the equation the more complex it becomes.
Once again the HTF Indicator software will basically do this for you without you needing to manually check each higher time frame. But remember what I said about automation needing to be supervised. That’s why Michael feels it’s important for you to at least have a good understanding of what is going on and why.
Part 6. Support And Resistance
I believe that every system and every trader should at least be aware of major support and resistance in a market. If you have ever negotiated to buy a house, you will inevitably get to a point of making an offer. How likely that offer is to be accepted is dependent on how strong the position of the seller is. If he is not prepared to budge, that’s resistance. If there is a price he will not go below, that’s support. Trading is like that, but with one advantage, if you know how to read support and resistance correctly you will know where the strong and weak points in the market are.
Support and resistance represent key junctures where forces of supply and demand meet. In the Forex market prices are driven down by excessive supply and up by excessive demand.
To put it another way.. Support is the price level at which demand is thought to be strong enough to prevent the price from going down any farther. Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further.
Part 7. Stop Loss and Target Levels
The system uses the Precog Predictor, Precog Ribbon, Precog MACD, and Precog Pro software to validate trade setups.
But this is not automated trading. You still have to set your stop loss and take profit. That’s where supervising automation comes in once again. You never want to let a software program set these for you.
That’s why it’s important that you know how to do this based on the system rules that have been carefully designed to give you maximum profit on every trade while greatly limiting your losses.
This will teach you in less than 6 minutes how to do this like a pro trader.
Part 8. Trading With Part Trades
Trading with part trades is basically trading defensively. Locking in profits and conservatively trailing the price tightly so that is the price moves against you. You’ve locked in the majority of your profits, converting whatever equity you have in the trade at that point into cash in your account.
The downside is that you can get stopped-out and then watch the trade continue to move in the direction of your trade.
Most times with this system you will be trading offensively giving you a better shot at big, fat profitable trades.
This will show you when to be careful, when to go for the big kill, and how to accomplish both effectively.
Part 9. Trailing Methodologies
There are five trailing methodologies that Michael uses that will keep you in the money. In this part of the DVD he will explain them in detail.
Understanding these can lead to big gains. Once again the custom indicators will be your guide to profits here, but this short video will explain the why behind the what.
While it may be true that you can only profit from what the market gives, you can generate much higher returns from your trades by trailing them effectively.
In less time than it takes you to watch a movie, this DVD will have you well-rooted in all the basics of trading as well as the things about this method that make it so highly profitable.
If you want to become a successful trader, you have to learn trading religiously and make sure that you also have the right attitude and discipline to become successful in forex.
DVD #2: Components Of The System
In this DVD we go deep into what each custom indicator does and how to use them for massive profits.
I wish I could share more with you about this here, but this information is strictly confidential and will only be shared with those who manage to get a copy of this system and advanced software today.
In addition to explaining how all the software works we also talk about conservative trading and aggressive trading. This system lends itself equally to both, but you have to know when to hold ‘em and when to fold ’em.
DVD #3: Trading Rules
Once again I can’t say too much about this. Except that you are going to learn the rules of the most powerful, advanced, accurate, and profitable system on earth. Michael goes through each type of trade, both conservative and aggressive, for both trend trades and swing trades.
This DVD is where you start to realize you have just been given the keys to the kingdom.
DVD #4: Trading Examples
In this DVD I show you example after example of different types of trades that can fill your account with money fast. Nothing teaches you a system better than seeing every possible type of trade happen right before your eyes while being thoroughly explained in great detail.
DVD #5: Live Trades
Now that you have seen all the different types of trades and had them explained, it’s time to watch them happen in real live trades.
Michael takes 16 live trades covering every possible scenario and let you watch over my shoulder. It’s like having him sitting next to you while we trade the system.
You will see Michael use all the software while trading live. This will bring it all together for you and show you just how easy this is to trade and how profitable it can really be.
DVD #6: The “Putting It All Together” Webinar
This webinar brings it all together and answers any remaining questions you may have about trading the system or using the custom indicator software.
Michael answers some tough question from real traders who were just as skeptical about this really being a whole new and better way to trade as you may be right now.
And you are about to see though, this is just a preview of many live webinars still to come. Michael will tell you about something that could make you a very wealthy super-trader in a very short amount of time in just a minute. First though.
The Trading Manual
Once you go through the DVDs, you will have a thorough understanding of the system, the technology we are using, and how to profit from every possible type of trade.
But let’s face it, remembering all this stuff can be hard. That’s why the trading manual is an easy to read, fully illustrated quick reference guide to everything covered in the DVDs.
You can quickly look up any question you have and know exactly what to do to ensure you make the most money from every trade you enter.
Also included are 8 cheat sheets to further your knowledge
At a glance you will know how to identify every possible setup and what to do to ensure it turns into a profitable trade and more cash in your account.
Key Features of Forex Precog
• Forex Precog is software that comes with not just 1 or 2 but a set of 6 DVD’s in total and that too with a manual. This means each and every area of forex trading gets covered in the tutorials and manuals supplied along with.
• Informs the user about the successful trade whether he’s online or not with marksman like accuracy, so that the trader can take the final call of entering into trade or not.
• Amazing webinar updates and easy interaction with other forex Precog members, thereby helping one to garner as much as information as possible through various trading experiences of people.
• 24/7 working ‘help and support’ from Michael’s Nurok’s team.
The Pros and Cons
• Forex Precog works like a blessing for new and full-time forex traders.
• Saves up a lot of time of traders that don’t really have to research for best trading opportunities.
• Extremely accurate predictions
• Forex Precog is partially online i.e. it doesn’t function in the absence of internet connection.
• A trader desirous of generating quick profits needs to religiously follow its instructions, the absence of which might result into loss of money.
All in all, Forex Precog is a master trading system that makes forex trading less stressful and more profitable. The 100% money back guarantee and a whole bunch of trading features make it a complete win-win product for us.