Forex Income Engine 2.0 Review From an Experienced Trader
I have been asked by a lot of fellow traders recently to write a review about Bill Poulos' latest product Forex Income Engine 2.0. Based on my knowledge and experience, Bill Poulos always stands for quality in this industry. However, I didn't take it for granted that this product is super in quality without inspection, and bought a copy myself and carefully studied it.
After reading through the manual and watching the videos, I assured myself that Forex Income Engine 2.0 is definitely worth the money. I must admit that Bill Poulos is a true expert in currency trading, and he understands thoroughly how the Forex market works and how one can rip in consistent profit from it.
Even better than the previous version, Forex Income Engine 2.0 is a solid method that one can benefit from for life. The method enables you to become a confident trader who makes decisions on your own, instead of those so called "gurus". Based on its values, theory, and insights, you can even teach the method to others, such as your friends, family members, or other fellow traders, so that they can also learn a great deal from the authentic knowledge of trading.
The course contains 3 stand alone trading methods, which can be used in any time frame. This is ideal for day traders, or those who don't have enough time to trade on a daily basis.
Method 1: Ignition Method
This method aims at short-term continuation trends. Depending on your time frame and conditions of the trade, the profit goal is between 10 and 50 pips. Trades often last between 2 and 6 bars. Employing a two-part exit strategy, the method makes it possible to maximize profits, and at the same time, minimize your losses based on a very strict stop loss mechanism.
Method 2 - Overdrive Method
I strongly recommend this method to traders because you can start a trade when some strongest trends occur during the day. Again, depending on your schedule and trade conditions, profit objectives are between 20-120 pips. I was impressed by this method because during my test, nearly all objectives were fulfilled. I tested it during different time frames from 10 minutes to 50 minutes, and my overall success rate were very high.
Method 3 - Spring Method
The final method included in the Forex Income Engine 2.0 course is the Spring Method. This method looks for trend reversals and typical profit targets are again between 25 and 100 pips.
The Spring Method seeks trend reversals. Profit objectives are between 20 and 100 pips. Although you do not need complex set-ups using this method, but it definitely brings more profit if you do. In my opinion, this method is not going to be frequently used by traders, but you must pay attention at trend reversal because once that happens, the trend-following methods are most likely to fail. But because certain reversal does not occur frequently, I recommend you focus on the previous 2 methods.
Risk management and discipline are extremely important for traders, especially new comers. Luckily, you get all those covered in Forex Income Engine's additional modules. And there's also a bonus module that teaches all the basics about currency trading.
How to Use the Methods
Using the same 4 technical indicators that are found in most charting platforms, the methods are easy to follow, thanks to Bill's dedication in details. There are also a great number of live trade examples to help you get your feet wet. The videos are a bit lengthy and I spent quite some time watching them before I got a thorough understanding of the intricacies of the methods. But when you start practicing, the whole picture becomes clearer and clearer. What's even better is that you can put the trading blueprints included in the package right next to your computer screen to have easy reference. This is definitely an advantage!
How Much Profit to Expect
I have tested all 3 methods and the overall success rate is extremely satisfactory, well, for me of course. The best part is that they are all profitable during the intraday time frames, especially the 15 minute time frame. I am sure that the 3 methods have been tested for lots of times because the exit points have been carefully designed to ensure the amount of profit from each trade.
From my own experience, the Overdrive Method is the most powerful one among all. During the last 2 weeks, I've been having a success rate more than 90%. Of course, it depends on how thoroughly you understand the set-ups and which ones are most profitable.
If you trade on shorter time frames, the Ignition Method could be unstable. But I still managed to have a highest success rate of 70%. This could be higher if you use the 15 minute chart frequently. Because of the exit strategy employed in the methods, the profit you make is guaranteed to cover your loss. This method also ensures your profit in the long run.
Although I didn't have time to test the Spring Method that much, it did generate a good amount of profit for me when the conditions were met. But you have to remember no to use this method in isolation because the number of set-ups that meet the criteria is few.
I have to admit that the price tag of Forex Income Engine 2.0 scares away lots of buyers, especially those who have not yet made significant profit from trading. But check out the Forex Special Offer in the resource box, you can get Forex Income Engine 2.0 for over 90% discount! Now, there's no way you are gonna miss it.