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This morning I was on the webinar from 8 am to about 11 am EST with Carlos Salvatierra, and there were a lot of things that came up that I want to share with you here. (Reminder: When you join Strignano’s Forex Signals, I highly recommend getting on these webinars… there are two a week, one during the New York Session and one during the London Session). These webinars really reduce your learning curve and get you using the signals and other levels Tom provides for some great profits as fast as possible!
There was some great stuff today, besides going over the signals that came out live while the webinar was in progress, that I would like to talk about…
#1 Get Rid Of All Your Lagging Indicators
If you’ve read Tom’s book, Forex Confidant, then you know he is no fan of trading robots or “public” indicators. He calls them public indicators because they are the indicators that come with your trading platform that everyone uses. (Your chart is probably full of them right now… Moving Averages, MACD, Stochastics, etc.) The basic reason Tom hates these indicators is because they are LAGGING indicators.
Lagging indicators tell you where the market has been… not where it is going. And since past movement does not guarantee price will move in the same direction, these indicators are worthless. And I know, this might be a tough pill for some of you to swallow.
But, what Tom wants you to learn is how to read PRICE ACTION like a pro Forex trader. Price Action, or what price is doing right now, is the best way to look at the market. So, not only do your get the signals themselves, but you get an advanced education in how to read price action and gauge market momentum from a true pro. Learning how to read price action in relation to the signals given is what is going to set you apart from other Forex traders! (You know? The ones losing money!)
#2 Start Using Forward Indicators
OK, what is a forward indicator?
Forward indicators are levels where price is most likely to go. It looks into the future and predicts levels where price is drawn to or rejected from. Do you realize how powerful it is to base your trading decisions (enter or not, stop loss, profit levels, etc) on levels that have a high probability of attracting or rejecting price?
You might be familiar with some of these like Pivot Points and Support & Resistance Levels. But the difference with the levels you are probably used to and the ones you get inside Strignano’s Forex Signals is that these levels are calculated using Tom’s proprietary methods. He spent over 25 years as a Bank Trader to come up with these levels… and he gives them to YOU!
***sidebar***
These calculations are available between 12 am and 1 am every day. Before, we had to plot these levels on our charts manually. But Tom and Carlos found that some traders were too lazy (stupid), to put these levels on their charts and were suffering losses because of this. So, now they created an indicator that installs on your Metatrader4 platform and PLOTS THESE VALUABLE LEVELS AUTOMATICALLY! (This is not the first, or last time, they do things to make the trading easier for us… as you’ll see below).
***end***
#2A Market Exhaustion Points
This is another calculation Tom gives you. It predicts areas where price is most likely to lose momentum. This is a KEY area to pay attention to price action. If price starts to stall, you might want to exit the trade, move your stop loss up, take partial profit, etc. But the point is, without these calculations… you wouldn’t know you were supposed to pay attention.
How many time have you placed a trade only to see momentum die out shortly after? You probably just traded into one of these exhaustion levels. Wouldn’t your trading be better if you knew these levels in advance? You see… Forward Indicators!
#2B Trend Reactionary Numbers (TRN)
These calculations are incredible, and probably even more valuable than the signals themselves! These are very strong levels where the market usually reacts by bouncing off, or breaking through. Previously, these closely guarded numbers (again calculated using Tom’s 25 years of experience as a Bank Trader), were only available to traders who spent $10,000 to attend Tom’s sold out seminar. Now, these Trend Reactionary Numbers are available inside the Strignano’s Forex Signals site for the currency pairs in the package you choose!
If price approaches one of these levels and bounces off… you can be pretty sure it is heading for the Trend Reactionary Number below. If price breaks through and stays above… you can be pretty sure price is going to move to the next one. These major target areas are incredible because they provide targets for profits of HUNDREDS OF PIPS. And when you see these placed on a chart, it is amazing how price reacts at these areas!
Carlos said on the webinar that Tom is working on a PDF to teach us exactly how to trade these areas. But some traders have already used these levels to make some great trading decisions… and some fantastic profits. In the Skype chat room, many have added trading these levels to the signals… and even PREFER trading Trend Reactionary Numbers!
In conclusion…
The goal of Strignano’s Forex Signals is to turn you into real Forex traders that make key decisions at important price points. Other traders are only looking at what price has done in the past… and this is why most fail. Tom gives you the levels to look at and the knowledge to know what to do if price hits one of these areas. Do you understand what an EDGE this is over other traders? Once I placed these levels on my charts and realized how effective they were… it made me feel like I was flying BLIND in my previous trading. But now my eyes are wide open… and I’m in the process of improving my trading skills so I can take advantage of the huge profits the Forex Market provides, and that are identified by Tom’s systems and calculations!
Start Using FORWARD INDICATORS For Your Forex Trading!
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[...] I think one of the main points I want to get across to other Forex traders, is the service is NOT just about signals like the ones you are about to see in the videos. Tom and Carlos pull out all the stops to TEACH us how to trade the signals like a real pro. This means getting rid of all our lagging indicators and starting to rely on forward indicators. If you don’t know what I’m talking about, read this post: Lagging vs Forward Forex Indicators [...]