Free Download A Working Man’s Forex Position Trading System 2010 by Alan Benefield
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REVIEW – A Complete Study of Alan Benefield’s “Working Man’s Forex Position Trading System” from 2010.
In the hectic world of forex trading, it might be difficult to find a strategy that works well with a full-time job. Then comes “Working Man’s Forex Position Trading System” (2010) by Alan Benefield, which was meticulously developed for anyone attempting to manage the intricacies of the forex market while juggling the demands of a 9–5 work. This study delves further into the system’s design, highlighting its key features, ease of use, and demonstrated effectiveness. Regardless of your degree of trading experience or your status as a novice looking for a more sensible strategy, this study aims to provide a clear picture of what Benefield’s technique offers and how it stands out in the crowded terrain of forex trading tactics.
Profile of the System
Alan Benefield’s “Working Man’s Forex Position Trading System” is a good option for those who wish to trade forex without spending entire days studying the market. This method is based on the “Daily 3 Stochastic” trading technique that arose as a result of Benefield’s extensive research, backtesting, and practical trading instrument experimentation. This strategy is essentially straightforward and accessible, ensuring that traders of all skill levels may comprehend and use it with ease.
Think of trading like navigating a vast ocean; Benefield’s method serves as a reliable compass that guides traders through unpredictable waters with little time commitment. The technique enables users to identify and manage deals in a matter of minutes each day using a few key indicators and conventional trading concepts. This approach will be especially beneficial to people with demanding full-time jobs who cannot afford to continuously monitor the currency markets. Priority is given to effectiveness and efficiency, which provides a structured yet flexible framework that works with the trader’s schedule.
Furthermore, the strategy is predicated on the notion that good trading is defined by strategic decision-making rather than ongoing awareness. By streamlining the trading process, Benefield’s technology helps traders make informed judgments without being distracted by the currency market’s ongoing volatility. The “Working Man’s Forex Position Trading System” appeals to those seeking a practical and eco-friendly approach to forex trading due to its blend of ease of use and functionality.
Important Characteristics Notes Made Use
Benevolent’s technique is based on a strong mix of technical indicators meant to very dependably identify market trends and possible reversal moments. There are mainly:
- Calculates the momentum of price swings to find overbought or oversold situations using a stochastic oscillator.
- Stochastic Momentum Index (SMI) gives more exact signals of market reversals, therefore improving the stochastic oscillator.
- Guppy Multiple Moving Averages (GMMA) evaluate market trend strength and direction by means of several moving averages.
- Evaluating the pace and change of price movements, the Relative Strength Index (RSI) helps one find overbought or oversold circumstances.
- Highlights in the intensity, direction, momentum, and length of a trend using MACD (Moving Average Convergence Divergence).
These metrics cooperate to offer a whole picture of the market, so helping traders to make wise selections. Leveraging momentum and trend indicators, the method provides a balanced solution fit for different market scenarios. This multifarious approach not only improves trade signal accuracy but also lowers false positive probability, so improving the general dependability of the trading system.
Easy to Use
Benefield’s commitment to accessibility and ease of use is evident in the user-friendly trading system he developed. He made sure the system is easily comprehensible and graphically oriented because he recognized that not all traders possess advanced technical skills. The comprehensive training materials include step-by-step instructions and video tutorials that are intended for both inexperienced and seasoned traders. By eliminating the steep learning curve that can occasionally be associated with complex trading strategies, this emphasis on education enables customers to get started quickly and bravely.
Traders can employ the method because it does not rely on sophisticated trading software, but rather on standard charting tools that are available on most trading platforms. This approach lowers the entry barrier and ensures their absence by ensuring consumers do not need to purchase expensive tools or software. Regardless of prior experience or technical proficiency, traders may easily navigate the forex market using Benefield’s methodology, which places an emphasis on clarity and simplicity.
Efficiency of Time
The “Working Man’s Forex Position Trading System” is notable for its remarkable time efficiency. The technique, which was created for people with limited availability, enables traders to quickly manage positions and scan charts for trade setups without spending excessive amounts of time in front of trading screens. It is the perfect option for people who are juggling trading with other obligations because users can typically find and execute deals in a matter of minutes each day.
This time-saving strategy is accomplished by combining accurate indications with reduced procedures. Within a limited timeframe, the method allows traders to make prompt, well-informed judgments by concentrating on important signals and removing superfluous complexity. In addition to increasing production, this lessens the stress brought on by laborious trading techniques. Consequently, traders are able to keep a healthy work-life balance when trading, making sure that their trading activities don’t conflict with their personal or professional obligations.
Controlling Risk
Any effective trading strategy must include risk management, and Benefield’s system gives this element a lot of weight. By giving traders precise instructions on how to distinguish between trending and non-trending markets, the method assists traders in avoiding high-risk transactions that could result in significant losses. The technique improves the overall security of the trading portfolio by concentrating on market conditions that support winning deals.
Additionally, Benefield’s strategy incorporates methods for preserving lucrative positions while reducing vulnerability to future declines. Even in erratic market conditions, traders can continue their trading operations over the long run thanks to this well-balanced risk management system. By giving capital preservation and gain protection first priority, the system creates a controlled trading environment that lessens the dangers associated with the FX market.
Proven Success
Alan Benefield’s “Working Man’s Forex Position Trading System” is backed by impressive claims of success both in his personal trading endeavors and through extensive backtesting. Benefield reports a winning rate of approximately 75% in his own trading activities, a testament to the system’s effectiveness. Additionally, backtesting results indicate a consistent winning rate ranging between 70-80%, reinforcing the system’s reliability and potential for high returns.
User testimonials further highlight the system’s success, with many traders reporting positive returns and expressing satisfaction with its effectiveness and simplicity. These firsthand accounts provide valuable insight into the system’s real-world performance, offering prospective users confidence in its ability to deliver on its promises. The combination of Benefield’s personal success and supportive user feedback positions the “Working Man’s Forex Position Trading System” as a credible and trustworthy option for aspiring forex traders.
Accessibility
Accessibility is a cornerstone of Benefield’s system, reflected in its affordable pricing and frequent promotional discounts, especially for members of Forexmentor. By keeping the cost reasonable, Benefield ensures that aspiring traders can access high-quality training and tools without a significant financial burden. This approach democratizes access to forex trading strategies, enabling individuals from diverse financial backgrounds to pursue their trading ambitions.
The system’s availability through common purchasing channels, coupled with supportive materials, underscores Benefield’s commitment to helping traders achieve their goals. Whether through detailed guides, interactive tutorials, or responsive customer support, the “Working Man’s Forex Position Trading System” offers a comprehensive package that caters to the needs of its users. This focus on accessibility not only broadens the system’s appeal but also fosters a supportive trading community where users can thrive and grow.
Conclusion
The “Working Man’s Forex Position Trading System” (2010) by Alan Benefield is a well-thought-out choice for individuals who are prepared to experiment with forex trading without giving up their full-time jobs. Its combination of time economy, strategic depth, and simplicity makes it a potent tool for both novice and experienced traders. By utilizing a combination of reliable technical indicators, emphasizing risk management, and ensuring user accessibility, Benefield provides a comprehensive framework that is appropriate for experienced traders.
With its exceptional success rates and positive user reviews, this method is unquestionably a smart option for anyone searching for a practical and effective approach to trade forex. Whether you want to start a new financial business or increase your income, the “Working Man’s Forex Position Trading System” offers a solid path to achieving your trading objectives with ease and confidence.
