Recently we provided a series on Forex Trading Methods and how a forex trader can identify a good method. 

Today, we're going to review one Forex Trading Method that meets our test for a good trading method and share with you why it's a good trading method. 

The course is called Forex Profit Accelerator, (re-released on 24 March 2009) and it's put out by Bill Poulos. If you don't know Bill, he's a 30+ year trading veteran who spends his time now teaching students to trade stocks and Forex. 

His Forex Profit Accelerator has been widely successful in helping forex traders apply the four different methods to the forex markets. 

Briefly, the course contains a set of 6 cds and a full manual -- both of which are essential to self-paced learning.  

The Forex Profit Accelerator teaches four unique methods to trade the forex markets and each of the cds includes in-depth video analysis of how the methods work. 

The Forex Profit Accelerator also includes a forex basics course, technical analysis basic training, charting software information and trading 'blueprints' to organize trade planning. 

We were highly impressed with the course -- and found that it passed each of the tests we place on a trading method. 

First, the method is absolutely complete. Forex Profit Accelerator teaches the precise setup conditions, exact entry rules, initial stop rules and different exit strategies for each of the four methods it contains. 

We were shocked by this, mainly because most courses out there barely teach forex traders a single method -- and yet, Forex Profit Accelerator teaches FOUR unique methods. The most important aspect here is that the four methods it teaches give forex traders more opportunity to maximize their profit potential. 

Second, Bill is one of the loudest voices on Risk Management. Not only does he make it easy to understand and implement his risk management tactics, but he teaches you how to incorporate it into your trading life - that's education you can own forever! 

Third, Forex Profit Accelerator is based on technical analysis, yet still allows forex traders some room for market interpretation. One of the elements we felt 'sold' us on this course, was Bill's clear statement that not all setups will become trades. And that's true - because technical analysis can only take you so far. But with the basic training part on technical analysis, along with Bill's easy teaching style, we believe you'll master TA quite fast. 

Last - the Forex Profit Accelerator is easy to understand and use -- and it's based on End of Day trading (New York close). This was awesome -- we found we could do all of our trading activities in less than 30 minutes a night, including analysis of potential trades, placing orders, adjusting stops and managing open trades. That's incredible considering there are four different methods you can work with. 

Needless to say, we gave Forex Profit Accelerator our top ranking as one of the best forex trading courses on the market and one of the most complete in-depth but easy to understand trading methods we've seen in a long time.

In our recent series on Forex Trading Methods, we've talked about how to identify the elements of a good system. Today, we want to share with you why most of the systems out there don't measure up to our guidelines.

First and foremost, many of the forex trading systems a forex trader will find are incomplete. They'll contain hours and hours of theoretical filler, but rarely, if ever, a step by step guide for using the method to succeed. If a forex trading method doesn't provide a clear, specific guide for implementing the method, the forex trader is likely to fail in using it.

Second, many of the systems out there pay only passing attention to the importance of risk management, or, they provide no coverage of the topic at all. If a forex trading method does not provide specific risk management guidelines, it should be abandoned immediately. Furthermore, if the method or system does not touch on risk management then forex traders should avoid it as such a forex trading method will leave all risk decisions to the trader -- this is a recipe for disaster.

Third - too many systems are based strictly on fundamental analysis or news-based trading. In most cases, forex traders will fail with such systems because they are not capable of trading to the minute, understanding the depth of the fundamentals or predicting how the markets will react to fundamental changes, or news reports. This puts too much risk on the shoulders of the forex trader.

Day trading -- almost every method and system out there will require a forex trader to day trade. Casual forex traders will not succeed at day trading because of the time requirements necessary to succeed at day trading. If a system requires you to spend hours glued to your computer, we would advise finding a different method.

Putting all of these together, forex traders will find most of the systems out there meet one or all of these negative guidelines. Unless a trader is a day trading professional, we believe most traders will fail if they use methods or systems that meet the items we've discussed here.