Forex Made Easy is a book written by James Dicks, the full title of the book is Forex Made Easy : 6 Ways to Trade the Dollar and was published in 2004. The book contains a lot of useful information for beginner traders, including basic information on setting up a workstation for trading, technical analysis, advanced indicators, Fibonacci sequences, Elliot Wave, money management and how to place trades. At Amazon the book achieves an average rating of 2 1/2 stars, but this ranking seems to be split between very high ratings and very low ratings. In fact 25% of customers to date have given the book a rating of 5 stars, the highest rating possible. The most satisfied customers appear to be beginners who appreciate the basics the book goes through without being overwhelmed with information.

Forex Made Easy is also a software program for trading forex. The title of the software is 4X Made Easy, the 4X being a play on the word forex. The software is produced by GlobalTec Solutions, LLP and is available through the website 4x.wizetrade.com. The company frequently attends forex trading expo’s and conducts free workshops, if you are interested in this software attending one of these is a good way to see the software in action.

The company claims that the software offers; research, a trading platform and a training system. The software provides green and red lights to help determine potential entry/exit signals for any currency pair.

Bad reviews for the software seem to outnumber good ones 10 to 1 on any review site. Many users complain that obtaining a refund was difficult, or impossible due to some fine print they hadn’t read. Others complain about the additional monthly costs you are forced to pay in order for the software to function. Satisfied users seem to point out that it isn’t really forex made easy, it can take a long time to learn to use the system and if you’re looking for an easy way to make money this isn’t it.

The best advise I can give on this software is to read the reviews. If you decide to purchase, make sure you read the fine print so you can claim a refund if you’re not happy. Remember Forex Made Easy stands for 4X Made Easy.

The ICWR forex strategy is based on a combination of the Elliott Wave Theory and Fibonacci ratios. Traders have found that corrective waves have a inclination to retrace the preceding impulsive waves by a Fibonacci ratio.

So what are corrective waves? Corrective waves are short-term corrections that move against the long-term market trend. The major waves in in alignment with the long-term market are called impulsive waves. Bring up a chart of a major currency (say the GBP/USD) with the time frame set on daily and you will easily see the long-term trend, along with several corrective waves.

The most frequent Fibonacci ratios observed in the ICWR forex strategy are 25%, 38%, 50%, 61% and 75%.

Most traders use the ICWR forex strategy with an existing entry strategy to help refine their exit strategy to get out the maximum profit possible out of the trade. In fact many traders have found that managing a trade and determining the exit point is more important than choosing an entry point and direction to trade in.

The ICWR forex strategy is very easy to use. Simply bring up a chart of an interval you wish to trade, find the preceding impulsive wave (in the direction of the long-term trend) and compute the Fibonacci ratios. Now record the Fibonacci ratios on your chart. For example if the preceding impulsive wave UP was 100 pips, for the Fibonacci ratio of 25% you will place a line 25 pips below the high of the impulsive wave. Most charting packages come with a Fibonacci tool built in, calculating the ratios and drawing in lines for you.

These Fibonacci ratios can then be used in a number of ways:
- move your stop loss with every impulsive wave in your favor to maximize profit and minimize risk (the 75% ratio is usually used for this)
- determine when the corrective wave is likely to conclude in order to determine good entry points.

Traders often tend to despair when their trade is in profit and it starts to move against them. By using the ICWR forex strategy you will be ready to ride out the corrective waves in order to get out the maximum profit from your trades.