Courses Infomation
David Bean – EVP 2 Strategy
David Bean – EVP 2 Strategy
EVP-2 Five Minute Forex Trading System is based on five minute charts and similar to the EVP-123 trading system. The basic pattern that is used in the strategy was designed over 12 years ago for the stock index futures. This is one of our favorite trading strategies for any market. We also use this trading system on other futures markets. The entries are very selective and work to catch fast markets. It uses a tight stop loss.
It is a strategy that keeps the losers small with a $300 stop loss for 100k lot trades and lets the winners run on a day-trade basis. It also uses a $400 breakeven and $700 trailing stop loss per 100k. EVP-2 only uses the forex data and futures price or volume data is not required. This strategy could be considered a volatilty, range, momentum, trend following strategy.
What is forex?
Quite simply, it’s the global market that allows one to trade two currencies against each other.
If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.
Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.
An exchange rate is the relative price of two currencies from two different countries.
You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!
You’ve exchanged one currency for another.
Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Currency Exchange
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.
It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
Salepage : David Bean – EVP 2 Strategy
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