Forex Trading Tips (Very Important).

1. Learn the basics of forex trading. It's amazing how many people simply don't know what they're doing. In order to compete at the highest level in the trading business and be one of the few truly successful participants you must be well-educated about what you are doing. This does not mean having a degree from a well-respected university – the market doesn't care where you were educated.

2. Forex trading is a zero sum game. For every long there is also a short. If 80% of the traders are on the long side ,then the remaining 20% are on the short side. This means further that the shorts must be well capitalized and are considered to be strong hands. The 80%, who are holding much smaller positions per trader, are considered to be weaker hands who will be forced to liquidate those longs on any sudden turn in prices.

3. Nobody is bigger than the market.

4. The challenge is not to be the market, but to read the market. Riding the wave is much more rewarding than being hit by it.

5. Trade with the trends, rather than trying to pick tops and bottoms.

6. Trying to pick tops and bottoms is another common fx trading mistake. If you're going to trade tops and bottoms, at least wait until the price action actually confirms that a top or a bottom has been formed before you take a position in the market. Trying to pin-point tops and bottoms in the foreign exchange market is very risky, but exercising a little patience and waiting for a proven top or bottom to form can increase your odds of profiting and somewhat reduce your risk.

7. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each.

8. Standing aside is a position.

9. In uptrends, buy the dips ;in downtrends, sell bounces.

10. In a Bull market, never sell a dull market, in Bear market, never buy a dull          market.

11. Up market and down market patterns are ALWAYS present, merely one is more dominant. In an up market, for example, it is very easy to take sell signal after sell signal, only to be stopped out time and again. Select trades with the trend.

12. A buy signal that fails is a sell signal. A sell signal that fails is a buy signal.

13. Let profits run, cut losses short.

14. Let your profits run, but don't let greed get in the way. Once you've already made a nice profit on a trade, consider taking either some or all of the money off the table and move on to the next trade. It's natural to hope that one trade will end up as your "winning lottery ticket" and make you rich, but that is simply not realistic. Don't hold the position too long and end up giving all your well-deserved profits back to the market.

15. Use protective stops to limit losses.

16. Use appropriate stop-loss orders at all times to cut your losses and never, ever sit back and let your losses run. Almost every trader at some point makes the mistake of letting his or her losses run in hopes that the market will eventually turn around in his or her favor but, more often than not, it simply leads to an even greater loss. You win some, you lose some. Simply learn to cut your losses, take your occasional lumps and move on to the next trade. And if you made a mistake, learn from it and don't do it again. To avoid letting your losses run, get into the habit of determining an acceptable profit target as well as an acceptable risk tolerance level for each and every forex trade before entering the market. Then simply place a stop-loss order at the appropriate price - but not so tight (close to the market) that the stop could quickly take you out of the position before the market has a chance to move in your favor. Using a stop is always the smart move.

17. Avoid placing protective stops at obvious round numbers. Protective stops on long positions should be placed below round numbers (10, 20, 25, 50,75, 100) and on short positions ,above such numbers.

18. Placing stop loss is an art. The trader must combine technical factors on the price chart with money management considerations.

19. Analyze your losses. Learn from your losses. They're expensive lessons; you paid for them. Most traders don't learn from their mistakes because they don't like to think about them.

20. Stay out of trouble, your first loss is your smallest loss.

21. Survive! In forex trading, the ones who stay around long enough to be there when those "big moves" come along are often successful.

22. If you are a new trader, be a small trader (mini account) for at least a year, then analyze your good trades and your bad ones. You can really learn more from your bad ones.

23. Don't trade unless you're well financed...so that market action, not financial condition, dictates your entry and exit from the market. If you don't start with enough money, you may not be able to hang in there if the market temporarily turns against you.

24. Be more objective and less emotional.

25. Use money management principles.

26. Money management increases the odds that the trader will survive to reach the long run.

27. Diversify, but don't overdo it.

28. Employ at least a 3 to 1 reward-to-risk ratio.

29. Calculate the risk/reward ratio before putting a trade on, then guard against holding it too long.

30. Don't trade impulsively ; have a plan

31. Have specific goals and objectives.

32. Five steps to build a trading system: a) Start with a concept b)Turn it into a set of objective rules. c) Visually check it out on the charts d) Formally test it with a demo e) Evaluate the results.

33. Plan your work and work your plan.

34. Trade with a plan - not with hope, greed, or fear. Plan where you will get in the market, how much you will risk on the trade, and where you will take your profits.

35. Follow your plan. Once a position is established and stops are selected, do not get out unless the stop is reached or the fundamental reason for taking the position changes.

36. Any successful trading system must take into account three important factors: price forecasting , timing , and money management. Price forecasting indicates which way a market is expected to trend. Timing determines specific entry and exit points. Money management determines how much to commit to the trade.

37. Don't cherry-pick your system's set-ups. Trade every signal.

38. Trading systems that work in an up market may not work in a down market.

39. Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react.Don't change during the session unless you have a very good reason.

40. Double-check everything.

41. Always think in terms of probabilities. Trading is all about thinking in probabilities NOT certainties. You can make all the "right" decisions and the trade still goes against you. This does not make it a "wrong" trade, just one of the many trades you will take which, through probability, are on the "loosing" side of your trading plan. Don't expect not to have negative trades - they are a necessary part of the plan and cannot be avoided.

42. The place to start your market analysis is always by determining the general trend of the market.

43. Trade only with a strategy that you've proven to yourself.

44. When pyramiding (adding positions), follow these guidelines.

a. Each successive layer should be smaller than before.

b. Add only to winning positions.

c. Never add to a losing position. One of the few trade management rules that we can state we never break is ‘Never add to a losing trade'. Trades are split into winners and losers, and if a trade is a loser, the chances of it turning right around and becoming a winner are too small to risk more money on. If indeed it is a winner disguised as a loser, why not wait until it shows it's true colors (and becomes a

d. winner)before you add to it. If you do this you will notice that nearly always the trade ends up hitting your stop loss and does not look back. Sometimes the trade turns around before it hits your stop and becomes a winner and you can count yourself very fortunate. Sometimes the trade hits your stop loss and then turns around and becomes a winner and you can count yourself unlucky. Whatever the result, it is never worth adding to a loser, hoping that it will become a winner. The odds of success are just too low to risk more capital in addition to the initial risk.
e. Adjust protective stops to the breakeven point.

45. Risk Control

A)Never risk more than 3-4 percent of your capital on any trade
B)Predetermine your exit point before you get into a trade
C)If you lose a certain predetermined amount of your starting capital, stop trading, analyze what went wrong, and wait until you feel confident before you begin trading

46. Don't trade scared money. No one ever made any money trading when they had to do it to pay the mortgage at the end of the month. Having a requirement to make X dollars per month or you will be financially in trouble is the best way I know to completely mess up all trading discipline, rules, objectives, and leads quickly to disaster. Trading is about taking a reasonable risk in order to achieve a good reward. The markets and how and when they give up their profits is not under your control. Do not trade if you need the money to pay bills. Do not trade if your business and personal expenses are not covered by another income stream or cash reserve. This will only lead to additional unmanageable stress and be very detrimental to your trading performance.

47. Know why you are in the markets. To relieve boredom? To hit it big? When you can honestly answer this question, you may be on your way to successful forex trading

48. Never meet a margin call; don't throw good money after bad.

49. Close out losing positions before the winning ones,

50. Except for very short term trading, make decisions away from the market, preferably when the markets are closed.

51. Work from the long term to the short term.

52. Use intraday charts to fine-tune entry and exit.

53. Master interday trading before trying intraday trading.

54. Don't trade the time frame. Trade the pattern. Reversal patterns, hesitation patterns and breakout patterns appear often. Learn to look for the pattern in any time frame.

55. Try to ignore conventional wisdom; don't take anything said in the financial media too seriously.

56. Always do your homework and stay current on global events. You never know what's going to set off a particular currency on any given day.

57. Learn to be comfortable being in the minority. If you are right on the market, most people will disagree with you. (90% losers,10% winners).

58. Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.

59. Beware of all tips and inside information. Wait for the market's action to tell you if the information you've obtained is accurate, then take a position with the developing trend.

60. Buy the rumor, sell the news.

61. K.I.S.S – Keep It Simple Stupid, more complicated isn't always better.

62. Timing is especially crucial in forex trading.

63. Timing is everything in forex trading. Determining the correct direction of the market only solves a portion of the trading problem. If the timing of the entry point is off by a day ,or sometimes even minutes ,it can mean the difference between a winner or a loser.

64. A "buy and hold" strategy doesn't apply in forex trading.

65. When you open an account with a broker, don't just decide on the amount of money, decide on the length of time you should trade. This approach helps you conserve your equity, and helps avoid the Las Vegas approach of "Well, I'll trade till my stake runs out." Experience shows that many who have been at it over a long period of time end up making money.

66. Carry a notebook with you, and jot down interesting market information. Write down the market openings, price ranges, your fills, stop orders, and your own personal observations. Re-read your notes from time to time; use them to help analyze your performance.

67. Don't count profits in your first 20 trades. Keep track of the percentage of wins. Once you know you can pick direction, profits can be increased with multi-plot trading and variations in using your stops. In other words, now is the time to get serious about money management.

68. "Rome was not built in a day," and no real movement of importance takes place in one day.

69. Do not overtrade.

70. Have two accounts. One real account and the other a demo account. Learning doesn't stop when trading real dollars begins. Keep the demo account and use it to test alternative trades, alternative stops, etc.

71. Patience is important not only in waiting for the right trades,but also in staying with trades that are working.

72. You are superstitious; don't trade if something bothers you.

73. Technical analysis is the study of market action through the use of charts,for the purpose of forecasting future price trends.

74. The charts reflect the bullish or bearish psychology of the marketplace.

75. The whole purpose of charting the price action of a market is to identify trends in early stages of their development for the purpose of trading in the direction of those trends.

76. The fundamentalist studies the cause of market movement, while the technician studies the effect.

77. Rising commodity prices generally hint at a stronger economy and rising inflationary pressure. Falling commodity prices usually warn that the economy is slowing along with inflation.

78. The longer the period of time that priced trade in a support or resistance area,the more significant that area becomes.

79. There are three decisions confronting the trader –whether- to go long, go short or do nothing. When a market is rising ,the best strategy is preferable. When the market is falling, the second approach would be correct. However ,when the market is moving sideways ,the third choise –to stay out of the market- is usually the wisest.

80. Channel lines have measuring implications. Once a breakout occurs from an existing price channel ,prices usually travel a distance equal to the width of the channel .Therefore, the trader has to simply measure the width of the channel and then project that amount from the point at which either trendline is broken.

81. The larger the Pattern ,the Great the potential. When we use the term "larger" ,we are referring to the the height and the width of the price pattern. The height measures the volatility of the pattern. The width is the amount of time required to build and complete the pattern. The greater the size of the pattern-that is ,the wider the price swings within the pattern (the volatility ) and the longer it takes to build –the more important the pattern becomes and the greater the potential for the ensuing price move.

82. The breaking of important trendlines . The first sign of an impending trend reversal is often the breaking of an important trendline. Remember however ,that the violation of a major trendline does not necessarily signal a trend reversal.The breaking of a major up trendline might signal the beginning of a sideways price pattern ,which later would be intedified as either the reversal or consolidation type.Sometimes the breaking of the major trendline coincides with the completion of the price pattern.

83. The minimum requirement for a triangle is four reversal points. Remember that it always takes two points to draw a trendline.

84. The moving average is a follower , not a leader. It never anticipates;it only reacts. The moving average follows a market and tells us that a trend has begun, but only after the fact.

85. Shorter term averages are more sensitive to the price action ,whereas longer range averages are less sensitive.In certain types of markets ,it is more advantageous to use a shorter average and ,at other times , a longer and less sensitive average proves more useful.

86. When the closing price moves above the moving average , a buy signal is generated. A sell signal is given when prices move below the moving average.

87. A buying signal on a two-moving average combination occurs when the shorter term of two consecutive averages intersects the longer one upward. A selling signal occurs when the reverse happens, and the longer of two consecutive averages intersects the shorter one downward.

89. Shorter average generates more false signals ,it has the advantage of giving trend signals earlier in the move .The trick is to find the average that is sensitive enough to generate early signals, but insensitive enough to avoid most of the random "noise".

90. Cutting losses is painful for every trader.The ability to cut one's losses in time is the sign of a seasoned trader.

91. A channel breakout suggests a target for the currency price equal to the width of the channel.

92. Long term charts provide important information regarding long-terms or cycles. The trader can get a correct perspective regarding the real direction of the market in the long run, the strength or direction of the current trend occurring within that trend, or the possibility of a breakout from the long-term trend.

93. Common Points All Of Reversal Patterms.

A)The first signal of an impending trend reversal is often the breaking of an important trendline.

B)The larger the pattern,the greater the subsequent move

C)Topping patterns are usually shorter in duration and more volatile than bottoms.

D)Bottoms usually have smaller price ranges and take longer to build

94. The head-and-shoulders formation is confirmed only when the completion of the three rallies and their reversals is followed by a breach of the neckline. The failure of the price to break through the neckline on closing prices basis puts on hold or negates the validity of the formation.

95. The double-top formation is confirmed only when the full completion of the two rallies and their respective reversals is followed by a breach of the neckline (the closing price is outside the neckline ).The failure of the price to break through the neckline puts on hold or negates the validity of the formation.

96. The flag formation is a reliable chart pattern that provides two vital signals: direction and price objective. This formation consists of a brief consolidation period within a solid and steep upward trend or downward trend. The consolidation itself tends to be sloped in the opposite direction from the slope of the original trend, or simply flat.

97. A Breakaway gap provides the direction of the market.

98. The runaway or measurement gap provides the direction of the market. This gap confirms the health and velocity of the trend.

99. The runaway or measurement gap is the only type of gap that provides a price objective. The price objective is the previous length of the trend, measured from the runaway gap, in the same direction as the original trend.

100. The exhaustion gap provides the direction of the market.

101. Near the beginning of important moves, oscillator analysis isn't that helpful and can be misleading. Toward the end of market moves ,however ,oscillators become extremely valuable.

102. When the oscillator reaches an extreme value in either the upper or lower end of the band, this suggest that the current price move have gone too far too fast and is due for a correction of some type.

103. The oscillator is most useful when its value reaches an extreme reading near the upper or lower end of its boundaries. The market is said to be overbought when it is near the upper extreme and oversold when it is near the lower extreme. This warns that the price trend is overextended and vulnerable.

104. A divergence between the oscillator and the price action when the oscillator is in an extreme position is usually an important warning.

105. -Oscillator- The crossing of the zero line can give important trading signals in the direction of the price trend.

106. Because of the way it is constructed, the momentum line is always a step ahead of the price movement. It leads the advance or decline in prices , then levels off while the current price trend is still in effect. It then begins to move in the opposite direction as prices begin to level off.

107. RSI is plotted on a vertical scale of 0 to 100. Movements above 70 are considered overbought, while an oversold condition would be a move under 30 .Because of shifting that takes place in bull and bear markets, the 80 level usually becomes the overbought level in bull markets and the 20 level the oversold level in bear markets.

108. The first move of RSI into the overbought or oversold region is usually just a warning. The signal to pay close attention to is the second move by the oscillator into the danger zone. If the second move fails to confirm the price move into new highs or new lows, a possible divergence exists. At that point ,some defensive action can be taken to protect existing positions. If the oscillator moves in the opposite direction, breaking a previous high or low, then a divergence or failure swing is confirmed.

109. Stochastics simply measures , on a percentage basis of 0 to 100, where the closing price is in relation to the total price range for a selected time period. A very high reading (over 80) would put the closing price near the top of the range ,while a low reading (under 20) near the bottom of the range.

110. One way to combine daily and weekly stochastics is to use weekly signals to determine market direction and daily signals for timing(it depends from the type of the trader). It's also a good idea to combine stochastics with RSI.

111. Most oscillator buy signals work best in uptrends and oscillator sell signals are most profitables in downtrends. The place to start your market analysis is always by determining the general trend of the market. Oscillators can then be used to help time market entry.

112. Give less attention to the oscillators in the early stages of an important move, but pay close attention to its signals as the move reaches maturity.

113. The best way to combine technical indicators is use weekly signals to determine market direction and the daily signals to fine-tune entry and exit points. A daily signal is followed only when it agrees with the weekly signal. (daily-weekly, 4 hour-daily,4 hour-1 hour).

114. The failure of prices to react to bullish news in an overbought area is a clear warning that a turn may be near. The failure of prices in an oversold area to react to bearish news can be taken as a warning that all the bad news has been fully discounted in the current low price. Any bullish news will push prices higher.

115. -Elliot Wave Theory- A complete bull market cycle is made up of eight waves, five up waves followed by three down waves.

116. -Elliot Wave Theory- A trend divides into five waves in the direction of the longer trend.

117. -Elliot Wave Theory- Corrections always take place in three waves.

118. -Elliot Wave Theory- Waves can be expanded into longer waves and subdivided into shorter waves.

119. -Elliot Wave Theory- Sometimes one of the impulse waves extends. The other two should then be equal in time and magnitude.

120. -Elliot Wave Theory- The Finobacci sequence is the mathematical basis of the Elliot Wave Theory.

121. -Elliot Wave Theory- The number of waves follows the Finobacci sequence.

122. -Elliot Wave Theory- Finobacci ratios and retracements are used to determine price objectives. The most common retracements are 62%, 50% and 38%.

123. -Elliot Wave Theory- Bear markets should not fall below the bottom of the previous fourth wave.

124. -Elliot Wave Theory- Wave 4 should not overlap wave 1.

125. Support and resistance are the most effective chart tools to use for entry and exit points. For purposes of placing stop loss, support and resistance levels are most valuable.

126. One of the commodities most effected by the dollar is the gold market. The prices of gold and the U.S. dollar usually trend in opposite directions.

127. The Yen is sensitive to changes in the price or structure of the raw material markets.

128. The commodity-producing countries (Canada, Australia, N. Zealand ) are more dependent on Japan than the other way around.

129. The Yen is sensitive to the fortunes of the Nikkei index, the Japanese stock market and the real estate market.

130. The majority of the pound transactions take place in London with a volume decreasing significantly in the U.S. market, and slowing down to a trickle in Asia. Therefore, in the New York market, many banks have to stop quoting the pound at noon.

131. Swiss Franc has a very close economic relationship with Germany, and thus to the euro zone.

132. The major markets are London, with 32 percent of the market,New York with 18 percent and Tokyo with 8 percent. Singapore follows with 7 percent, Germany has 5 percent and Switzerland, France and Hong Kong have 4 percent each.

133. Don't use the markets to feed your need for excitement.

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John Murphy’s Ten Laws of Technical Trading.

Chief Technical Analyst, John Murphy, is a very popular author, columnist, and speaker on the subject of Technical Analysis. John’s “Ten Laws of Technical Trading” is the best guide available anywhere for people who are new to the field of charting. I urge you to print out this page and refer to it often. If you find this information useful, consider subscribing to John’s Market Message Service.

Which way is the market moving? How far up or down will it go? And when will it go the other way? These are the basic concerns of the technical analyst. Behind the charts and graphs and mathematical formulas used to analyze market trends are some basic concepts that apply to most of the theories employed by today’s technical analysts.

John Murphy, StockCharts.com’s Chief Technical Analyst, has drawn upon his thirty years of experience in the field to develop ten basic laws of technical trading: rules that are designed to help explain the whole idea of technical trading for the beginner and to streamline the trading methodology for the more experienced practitioner. These precepts define the key tools of technical analysis and how to use them to identify buying and selling opportunities.

Before joining StockCharts, John was the technical analyst for CNBC-TV for seven years on the popular show Tech Talk, and has authored three best-selling books on the subject: Technical Analysis of the Financial Markets, Intermarket Technical Analysis and The Visual Investor.

His most recent book demonstrates the essential visual elements of technical analysis. The fundamentals of John’s approach to technical analysis illustrate that it is more important to determine where a market is going (up or down) rather than the why behind it.

The following are John’s ten most important rules of technical trading:

1. Map the Trends

Study long-term charts. Begin a chart analysis with monthly and weekly charts spanning several years. A larger scale map of the market provides more visibility and a better long-term perspective on a market. Once the long-term has been established, then consult daily and intra-day charts. A short-term market view alone can often be deceptive. Even if you only trade the very short term, you will do better if you’re trading in the same direction as the intermediate and longer term trends.

2. Spot the Trend and Go With It

Determine the trend and follow it. Market trends come in many sizes – long-term, intermediate-term and short-term. First, determine which one you’re going to trade and use the appropriate chart. Make sure you trade in the direction of that trend. Buy dips if the trend is up. Sell rallies if the trend is down. If you’re trading the intermediate trend, use daily and weekly charts. If you’re day trading, use daily and intra-day charts. But in each case, let the longer range chart determine the trend, and then use the shorter term chart for timing.

3. Find the Low and High of It

Find support and resistance levels. The best place to buy a market is near support levels. That support is usually a previous reaction low. The best place to sell a market is near resistance levels. Resistance is usually a previous peak. After a resistance peak has been broken, it will usually provide support on subsequent pullbacks. In other words, the old “high” becomes the new low. In the same way, when a support level has been broken, it will usually produce selling on subsequent rallies – the old “low” can become the new “high.”

4. Know How Far to Backtrack

Measure percentage retracements. Market corrections up or down usually retrace a significant portion of the previous trend. You can measure the corrections in an existing trend in simple percentages. A fifty percent retracement of a prior trend is most common. A minimum retracement is usually one-third of the prior trend. The maximum retracement is usually two-thirds. Fibonacci retracements of 38% and 62% are also worth watching. During a pullback in an uptrend, therefore, initial buy points are in the 33-38% retracement area.

5. Draw the Line

Draw trend lines. Trend lines are one of the simplest and most effective charting tools. All you need is a straight edge and two points on the chart. Up trend lines are drawn along two successive lows. Down trend lines are drawn along two successive peaks. Prices will often pull back to trend lines before resuming their trend. The breaking of trend lines usually signals a change in trend. A valid trend line should be touched at least three times. The longer a trend line has been in effect, and the more times it has been tested, the more important it becomes.

6. Follow that Average

Follow moving averages. Moving averages provide objective buy and sell signals. They tell you if existing trend is still in motion and help confirm a trend change. Moving averages do not tell you in advance, however, that a trend change is imminent. A combination chart of two moving averages is the most popular way of finding trading signals. Some popular futures combinations are 4- and 9-day moving averages, 9- and 18-day, 5- and 20-day. Signals are given when the shorter average line crosses the longer. Price crossings above and below a 40-day moving average also provide good trading signals. Since moving average chart lines are trend-following indicators, they work best in a trending market.

7. Learn the Turns

Track oscillators. Oscillators help identify overbought and oversold markets. While moving averages offer confirmation of a market trend change, oscillators often help warn us in advance that a market has rallied or fallen too far and will soon turn. Two of the most popular are the Relative Strength Index (RSI) and Stochastics. They both work on a scale of 0 to 100. With the RSI, readings over 70 are overbought while readings below 30 are oversold. The overbought and oversold values for Stochastics are 80 and 20. Most traders use 14-days or weeks for stochastics and either 9 or 14 days or weeks for RSI. Oscillator divergences often warn of market turns. These tools work best in a trading market range. Weekly signals can be used as filters on daily signals. Daily signals can be used as filters for intra-day charts.

8. Know the Warning Signs

Trade MACD. The Moving Average Convergence Divergence (MACD) indicator (developed by Gerald Appel) combines a moving average crossover system with the overbought/oversold elements of an oscillator. A buy signal occurs when the faster line crosses above the slower and both lines are below zero. A sell signal takes place when the faster line crosses below the slower from above the zero line. Weekly signals take precedence over daily signals. An MACD histogram plots the difference between the two lines and gives even earlier warnings of trend changes. It’s called a “histogram” because vertical bars are used to show the difference between the two lines on the chart.

9. Trend or Not a Trend

Use ADX. The Average Directional Movement Index (ADX) line helps determine whether a market is in a trending or a trading phase. It measures the degree of trend or direction in the market. A rising ADX line suggests the presence of a strong trend. A falling ADX line suggests the presence of a trading market and the absence of a trend. A rising ADX line favors moving averages; a falling ADX favors oscillators. By plotting the direction of the ADX line, the trader is able to determine which trading style and which set of indicators are most suitable for the current market environment.

10. Know the Confirming Signs

Include volume and open interest. Volume and open interest are important confirming indicators in futures markets. Volume precedes price. It’s important to ensure that heavier volume is taking place in the direction of the prevailing trend. In an uptrend, heavier volume should be seen on up days. Rising open interest confirms that new money is supporting the prevailing trend. Declining open interest is often a warning that the trend is near completion. A solid price uptrend should be accompanied by rising volume and rising open interest.

“11.” Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.

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Forex Trading Strategy: GBP-JPY 1H

This is the simple strategy i usually used for pair GBP-JPY: Please run your MetaTrader software. Then set this indicator: Indicator in use: 1. Simple Moving Average (SMA 35 high) thick white line as the picture (or it's up to you) 2. Simple Moving Average (SMA 35 close) white dot (period) as the picture (or it's up to you) 3. Simple Moving Average (SMA 35 low) thick white line as the picture (or it's up to you) 4. Linear weighted (LWMA 2 close) thick blue line as the picture (or it's up to you) 5. Linear weighted (LWMA 3 close) thin blue line as the picture (or it's up to you) 6. Linear weighted (LWMA 4 close) thin blue line as the picture (or it's up to you) 7. Linear weighted (LWMA 5 close) thin blue line as the picture (or it's up to you) 8. Linear weighted (LWMA 6 close) thin blue line as the picture (or it's up to you) 9. Linear weighted (LWMA 7 close) thin blue line as the picture (or it's up to you) 10. Linear weighted (LWMA 8 close) thick blue line as the picture (or it's up to you) 11. MACD 12,26,9 like the picture (the color it's you) 12. indicator BBANDS ~ 1 (This indicator can be found on the tricks that I tell this)  in this post I include the template and  the indicator , so you just copy and paste to the templates folder and the indicator folder in your MetaTrader. How it works : First: Use Time Frame 1 H BUY: When LWMA 2 to 8 have been crossing to the 35 SMA high with a high mark in the emergence of new Candlestick, do not open position when only LWMA 2 to 7 cross to SMA 35. make sure all LWMA 2 to 8 crossing to SMA 35 , because when all LWMA not cross to 35 high SMA, then price probably will be going down (reversal), see sign green orb in the picture above. In addition to the mark in the MACD 12, 26, 9 are on the positive value (mountain form) see the picture above. Also marked the emergence of signal point BBANDS ~ 1 blue. if all of the above signal is okay ... please open BUY position. OPEN SELL: When LWMA 2 to 8 close have been crossing down to the bottom of 35  SMA low with mark in the emergence of new Candlestick, do not do open position when the SMA cross to LWMA only 2 to 7.  Because when all LWMA not cross to 35 SMA low, then price probably will be going to  reverse, in addition to the mark with the MACD 12, 26, 9 are on a negative value (see the picture above).  Also marked the emergence of signal point BBANDS ~ 1 red. if all of the above signal is okay ... please open positions SELL Determining Target Point (TP) and Stop Loss (SL) To determine the TP, if the trends are strong then you can set 100 pips, but if the trend is not so strong, so please take target 50-60 pips only. How do I determine the trends are strong? please see your pair GBP / USD and USD / JPY Time Frame for 1 H, Candlestick when GBP / USD and USD / JPY  move in the same direction, they can be sure in the GBP / JPY will also move the same direction with that 2 pair. Example ... if the GBP / USD and USD / JPY rise 5 pips, the GBP / JPY will rise even more 10-15 pips. Or you can use fibonacci levels to determine your  TP , or with Support and Resistant level. To determine Stop Loss, I set it to 100 pips, because the nature of this pair is wild and it can be reverse 60 pips. this strategy match on the pair-pair wild as GBP / JPY or GBP / CHF which the movement pips a day can achieve 100-150 pips, and if the certain condition it can be up to 800 pips.  You can also trade GOLD using this strategy and get result ... hundreds of pips. Don't forget to Set Time Frame 1 hour (H 1). REMEMBER! Try in virtual money / DEMO account first! for 1 or 2 weeks. If you are used to profit with Virtual / demo, with a comparison of 10 times Trade 8 times profit and 2 times loss, or about 85% accuracy, so please use the Real Money / Money for your real trading.
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Forex Trading System: Gold System

Gold System


Strategy:

Buy:

1. price above buy zone fib, blue rsi chart bar

2. William’s percent range indicator gold line entering or inside blue area
above -25.00

3. RSIOMA clearly crossed up

Sell:

1. Price below sell zone fib, red rsi chart bar

2. William’s Percent Range Indicator gold line entering or inside red area
below -75.00

3. RSIOMA clerly crossed down

Exceptions for opening a Trade when above conditions are met:

1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.

Conditions for closing Trade:

Safest

1. When price hits next pivot point line in direction of trade.

Moderately Safe

1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.

RECOMMENDED TIMEFRAME: 1 HOUR

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Swing Trading Strategy

Swing trading is a way that aims to obtain profit in a short time. Called the swing, because the turnover position (close / open - buy / sell) is done in a short time. Here, accuracy and neatness momentum of trader to find the right to do the open position is necessary. Swing trading concern to the technical analysis in determining the right moment to open position, and usually does not need to pay attention to news or analysis fundamental, but more focused to the price movement of a pair desired.
swing trading is best done if the market does not have any
news and influential enough that the price movements tend to be formed waves in the short time period.

There are several things to do in the swing trading:

1. Chart style that should be used is a candle stick, because the candle stick pattern, momentum price movement (up / down) can be seen more clear.
2. Use a horizontal line indicators for present value
Pivot, ressistance and support from the pair. This is important
more secure because the swing is done at the time the position which range of pair around its Pivot or in a wave pattern around the support or
resistance.
3. Parabolic SAR indicator can be used to help determine
momentum market entry. Usually, when prices begin to rise, this indicator will
appear below the chart, while prices start coming down this indicator
will appear in the top of the chart.
4. Indicators as adjuvant can be used ADX or Bolinger Band.
In principle, ADX has 3 parameters: DI +, DI-and ADX line. Signal
Sell for ADX shown to decrease when IN + and IN-cut, and
range ADX line is below 20, while the ADX signal for Buy
indicated when + DI moves up and AT-cut, while the ADX line
is in the range of 40.

But in some cases, these parameters still relatively
parallel, so that was quite difficult for traders to determine the position. For that
case, we can use Bolinger Band (BB) indicator as an aid. BB actually
consists of 2 lines, high-level parameters (upper band) and low level (lower
band), but sometimes two parameters so that ignites this looks like
one line, and at others it will form the tunnel.

BB is quite popular as a technical indicator. In general, BB
describes the tendency overbought & oversold market's top pair
concerned, the more close to the limit price chart above, the more stronger
overbought indication. cut the chart at the time limit on the BB - this
signal is sold, at the time the chart below the limit cut
- This is a buy signal, due to an oversold indication of the strong.
Now, how do I determine the target?
As I explained above, swing is very effective to be used when the chart of pair
shows the wave movement (up-down) form.
To determine the target, we must first specify the Range (R ') price
which is the borders of high (H) & low (L) value of the pair.
R '= H - L
If you have a few waves, then specify the average H and the average L,
then we get that R is more focused.
In addition, note also price is likely to increase, or
tend to go down. This can be done to attract the straight line
connect the dots highest waves. If the line is increased, then
the price trend will increase, means that if we open buy position, the gain will likely become increasingly big. Conversely, if the line is decreased, so if we sell open position, we will get more gain.
Well if you can have in R ', the range trading (R) is:
R = R '- (2 x S) ; where S=spread.

For example, we play in the EUR / USD which spresd is 3 (difference value between bid and offer), then R = R '- (2 x 3). target profit that can be achieve is
half of R value. Or if we can see the price trend such as I described above, we can determine the target with more carefully.

Hopefully helpful.

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2 trap Direction Strategy

Trapping techniques such as this is quite popular among trader and very profitable if applied when the important economic event occur. It Does not need indicators, which required only the ability to install the order price (price of the message).

Time for Trading is when U.S. market open around 19.00 WIB (GMT +7) or discharge in accordance with the important economic data from the United States. To find out news and economic data that will be out on that day, I recommend you to see http://forexfactory.com Calendar daily. on here you can easily see the economic data that will come out, how many hours and how the importance of data.

Economic data that has a significant and much-awaited person / trader here is usually economic data NFP (Non Farm Payroll), Core CPI (Consumer Price Index) and the FOMC's announcement on interest rates increase. NFP announced that every day the first Friday of each month for example can make the price movement of GBP / USD around 200 pips. Very interesting huh?

This is the strategy:
See Economic Calendar Daily, I usually upgrade http://forexfactory.com example in the weekly trading with NFP eg: on Friday the first week was about NFP data that will be released in the United States 19:30 hrs WIB. In http://forexfactory.com You can adjust the time the United States and Jakarta (WIB) with the way the time period to be +7 akan forexfcatory calendar automatically adjust the time Jakarta.

Open your trading platform. We suggest that when economic news was released hours in 8:30 you are already online for 30 minutes prior to preparation. Before 8:30 price movements are usually not too much because the markets are likely to news that will be announced later.

Five minutes to a time which is 8:30 hours 8:25 ,attach order in two positions at once. That is the position of BUY and SELL. You should see the price at the time. To install add the price of order 40 pips to BUY position and reduce the position for 40 pips SELL. Then attach Sotp Loss pip 30, Target 50 pip profit pairs or up to you when you complete the movement of prices at that time and want to get the maximum benefit.

Example of how to install a trap in your trading platform. For example, at the time the price GBP / USD move around 1.7230

Place the first position that is "BUY"

Click the tab "Orders" on your trading patform:

Fill with the instrument = "GBP / USD"
Buy / Sell = Select "Buy"
Price = input price "1.7270" (from 1.7230 + 0.0040 (+40 pip))
Price Select Type = "Stop"
Quantity = Fill in the amount of money you want to trade (remember leverage 1:100)

$ 1 if the transaction value of the 100 entries in the Quantity
When the $ 5 transaction value of the 500 entries in the Quantiy
$ 10 if the transaction value of entries in the 1000 Quantity
$ 200 if the transaction value of the 20,000 entries in the Quantity column, dst

Exit Stop Loss = Contents of "1.7240" (from 1.7270 - 0.0030 (30 pip)
Exit Target = If you want to target profit 50 pip enter "1.7320" (from 1.7270 + 0.0050)
Desk = select "Live" if you want to trade with money indeed select "Virtual" if only wish trading simulation

Click "OK" your transactions directly sent and recorded in the Order

Place the 2nd position to the "SELL"

Click the tab "Orders" on your trading platform, then click "New" tab will display the field:

Fill with the instrument = "GBP / USD"
Buy / Sell = Select "SELL"
Price = input price "1.7190" (from 1.7230 - 0.0040 (-40 pip))
Price Select Type = "Stop"
Quantity = Fill in the amount of money you want to trade (remember leverage 1:100)
Exit Enter = Stop Loss price 1.7220 (from 1.7190 + 0.0030 (30 pip)
Exit Target = If you want to target profit 50 pip enter 1.7140 (from 1.7190 - 0.0050)
Desk = select "live" if you want to trade with the money indeed. Select "Virtual" if only wish trading simulation

Click "OK" then your transaction directly sent and recorded in the Order

Now you have two positions at once order

Position in the Order BUY 1.7270 SL 1.7240 TP 1.7320
Position in the Order SELL 1.7190 SL 1.7220 TP 1.7140

After that we waited until 19:30 WIB through. After the economic news this NFP announced price will usually rise or move down drastically. When the price moves increased, BUY order will closed. Or When the price and move down, SELL order will closed. This is trap i mean.
When the position of order "buy" closed, you can cancel the position of order "sell." Similarly, vice versa.
This strategy can also be used at events such as the economy GDP, Home sales etc. but not as much as NFP and Core CPI news.

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Generating Trading Signal Using Moving Average

Let us note with the picture below. This is the image of the same article before. Show my goals is to refresh the memory, but also because the topic this time we are associated with the signal trading.

The Chart over me is a perfect crossing because obviously have the line third almost simultaneously, or nearly at one point (note that I give the line vertical red). The pattern on the chart EURUSD (H1) occur over the January 09, 2009 at 15:00 hours GMT.

Often the pair that showed a pattern like this will be a big bang (or a big boom, for the uptrend). Note the blue line cut from the top of the red, yellow lines and cut them from the top also. So that means trading signals have been given (short trading).

You may ask if the chart pattern such as this valid? Or how often have a pattern like this? Well let's look at the pictures below, and your task is to find patterns in metatrader.

The graph above is GBPUSD H1. Note the third line have the most at one point. This pattern occurred on 19 January 2009 hours 12:00 (GMT).

The graph above is the EURUSD H1. Note the yellow line cut two red-blue line, and then have the second line was some time afterwards. This pattern occurred on 19 January 2009 hours 20:00 (GMT).

The graph above is GBPUSD H1. Note the second line have the blue-red, and some time and then cut the two yellow-red-blue line. This pattern occurred on January 26 2009 hours 09:00 (GMT).

The chart EURUSD H1 is over. Note the third line blue-red-yellow, have the most at one point. This pattern occurred on January 26 2009 hours 12:00 (GMT).

That's it ..! and many more patterns like that if you want to take the time to do back-testing. In all time frame there is always this pattern. And I deliberately show graphs of the patterns that occur in the course of this month (January 09) and from H1 TF.

If you ask how much profit potential offered by this pattern, then the answer to which depends on the TF patterns appear. Clear that profit of the larger TF is greater potential. Please measure to reduce the high and low according to its consideration of you.

If you are still confused with the application pattern crossing the line 3, may be 3 of the following rules will be able to help.

First: Make sure the blue line and each other have the red line.

Second: Make sure at this time candle close above or below the crossing point. That is close to the crossing point up-trend and close under the crossing point if the downtrend. Caution should not rush even if entry conditions are met.

Third: Wait until the yellow line also cut the second line (red and blue). Can be the cross of yellow line does not happens at one point with cross both red and blue lines. It is not always form a perfect pattern. If so, use the blue line as the reference. This means that yellow line should have been cut off the blue line, then the trading signal generated much greater level of probability.

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The best forex indicator

"Does the indicator really powerful to predict movements in the price?" And believe me, you had to spend much time finding and research to find answers to these questions. Seismograph as an expert, he can know the condition / status of the volcano is only graphics, and even able to accurately predict when the mountain will erupt. So, should you also can check the market situation and price movements to predict the direction, also only from the graph. Not so? In This time I tried snoop actual indicator is powerful in detecting the direction of the market.

Well, let's start ...

Basically, all the existing forex indicator is very adequate to predict movements in prices. Often only, you do not know when an indicator is used. I mean, a particular indicator has a different function with the other indicators. For instance, if you force the use diversified trend following indicators on the market that are currently ranging then you will not even get accurate signals so you can be trapped. Conversely, if you use the indicator on the oscillator are trending of the market will also provide similar results. I have some useful tips on how to use the indicator appropriately. Please your knowledge of the following:

1. Identify the market situation. This absolutely must be done before you select an indicator. I am sure you already understand that is not all indicators can be applied to any type of market. You have read in my tutorial forex market that are trending time trader should use trend following indicators, while at the market are ranging, traders should use oscillator indicators. Please read the back if you forget this.
2. Customize your Technical Trading. You choose the technical trading "breakout system" or "pullback system". Both of these techniques can be applied in markets that are trending and ranging. But you must notice that in the technical breakout system akan less good if you use oscilator indicators. Alternatively use indicators such as trend line or moving average. So far I like the indicator oscilator awesome oscillator, RSI, and others are very good if used for technical pullback. You may combine it with the moving average and fibonacci formula only if the conditions in the market trending.
3. Indicators Synergy you. Whatever your favorite indicators, he can not be alone. But, trading signal is much more accurate if you combine it with other indicators. That needs to synergize in this indicator is both should support each other. Easy to do, not the combining of two or more indicators of different functions and uses. If you do that, believe you will be confused because it made a trading signal generated is not consistent. Take an example, put the indicator and the stochastic oscilator moving average chart in MetaTrader you. See when the moving average over the (signal trend up - get open), but sometimes shows stochastic is overbought conditions (above level 80). You dare to buy? I am sure you will doubt, is not it?

Okay, I hope these three simple tips can be useful. The need to always remember is that forex is not exact sciences, so you will not find the magic formula that can be applied as in mathematics. Rule does not apply if it so well. Forex more appropriate as art, the art of probability. Whatever indicator you choose and the strategy or technique that you apply, they all die on the question how many percent level of probability. Although this is also how many percent can not be measured in quantitative, but the way the selection of appropriate indicators will be able to increase your level of qualitative probability. How do you think?

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Automated Forex Bot - The Software To Ease Forex Trade

Augment Your Forex Profit With Automated Forex Bot To increase the profit in Forex trading, technology has come to help in a big way. One of these methods that are widely used is the automated Forex bot. This technological marvel is actually a virtual robot used to handle the Forex accounts. One does not have to enroll in some financial class to learn the skill in Forex trading. The bot takes charge of all the trading round the clock for you. Hence you actually do not miss any trading that brings you money. The Forex bot does this when you are busy with some other works as the bot monitors all the trading status. The automated Forex bot is available could be bought for a price of around hundred bucks, though the returns that accrue are higher compared to the investment made. You can also try out the free demo account to know about the product in detail. If one is not satisfied with the product, for more details visit to www.viral-toolbar-builder.com there is a 60 day guarantee period, within which the product can be returned and get the money back. There is an increase usage of auto foreign trading in the exchange market. This is so as the method used is more accurate and the reliability is equally good. All these could be availed as you do other important work. It is wise to get one for you and be in sync with the technological advances. There are three things that must be considered while looking for automated forex trading software. These are Accuracy, Ease of Use and Customer Service. With an accurate signal generator, for more details visit to www.software-designers-pro.com one can make lots of money if the machine is used correctly. The generator can be used to predict the result of certain forex pairs in future after an analysis of the trends as well as shifts taking place in the market. Hence, one must try to get the best signal generator available in the market. Most of the publishers of software also provide free updates on a regular basis after the purchase of the software. This helps in getting precise tips on the market trend. It is advisable to read some comparison reviews before buying one for you. The Ease of Use means to know the ease with which the program could be used. This could be learnt from the website of the publisher. One must look for the user friendliness of the software. The software must have an accurate signal generator along with basic stop loss. It must also take the profit features of Forex trading. The Customer service of the software company could be determined by sending an e-mail to them and look for the response time. Normally, the response time could be between 1 to 3 hours. This is also a reflection of the reputation of the company for being concerned about your business and the way they keep the customer happy. Again, though there will not be any problem with the program, however, if some problem does crop up, you can be sure that your comment and complaint will be swiftly dealt with in an effective manner.

By:Ajays_operations

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The 6 Steps to Finding the Best Forex Broker

Getting a good Best Forex Broker is quite critical to successfully trade in the foreign currencies markets. Not every Forex brokers are made the same. Each one will have tools and functions different from the other.

You might find a broker that offers great resources and information to analyze and spot trends in currency trading but can come up short on the software platform side. So it is important to do Some research at the starting so that the relationship you nurture with your broker can be a lasting and paying one. To serve you along here are Many tips on getting a great broker:

1. Account types - The total of capital you are willing to invest will dictate what type of account you will open with a brokerage. Typically, virtually brokerage firms will offer a "mini" and a "standard" account. As the term involves, a mini account can be opened for as little as $200. This is suitable for the beginner looking to gain experience in trading. However there are cases when trading options such as leveraging can be limited in a mini account. A standard account, on the other hand, offers more options over the mini account but the minimum deposit is also much greater (around $1,000.00).

2. Platform - The platform is basically the program that you will use to get such information like live quotes, graphs and charts, your exposure, your profit and loss, the margin required, every your open positions with their current profit and loss status and further useful data. A good brokerage will very likely be using sophisticated technology in their platforms so be sure to find out if it is user-friendly at Every. every the buying and selling should be easily done in as little as one click. Many platforms also gives you access to daily analyses in Forex, news reports and Forex signals including support and resistance levels.

3. Leverage - Leveraged financing is a feature common in Forex trading. It basically means you can use credit in order to maximize your returns. In simpler terms, what you do is you "borrow" your broker's funds temporarily to make larger trades and if all goes well, will produce larger profits. An opportunity So is created to control a $400,000 transaction for as little as a $1,000 actual investment. In this example, the leverage level is x400. An investor should be aware though that if the market turns sour, there is a risk of losing a substantial sum of money, depending on the amount of leverage taken. So it is a serious idea to learn more about leveraging before exposing your investment in the open market.

4. Spread - Stock brokers make their money in commissioning, Forex brokers make theirs done the spread. A spread is the difference between buy and sell--the price at which a currency can be bought and the price at which they can be sold at any given time. To the investor, a smaller spread logically means that there is a higher profit potential. There are 2 types of spread--fixed and various. Fixed spreads remain the same throughout the day. various spreads change according to market conditions. A active market must react considerably in your favor before you can turn a profit. Spread also alters from account types. A mini account typically charges a higher spread than a standard account. A potential trader should So know the spread of Every broker before settling at a decision to sign up.

5. Technical support - Obviously, support should be considered such as when the software becomes faulty or when questions arise regarding certain transactions. Quick acting support reflects positively on a broker and you can even try this by contacting them with pre-sale questions.
6. Demo account - Before putting any weight on any of the items mentioned above, a beginner should always look for a broker that offers a demo or trial account. Not Every brokers offer demo accounts. A demo account will allow you to trade in "play" money so that any losses you incur do not count against your investment. Needless to say, you do not make any money either if you turn a profit in your demo account.

It is there only to get a beginner acclimated to the different Forex conditions. While this may be Many of the almost important points to consider when looking for a Forex broker, there are Many "little things" that may crop up while doing your search such as unique promotions or great offers. However there is enough data in the foregoing to provide you with a basis for judging whether Many offers are above board or not.

There is nothing to stop you from signing up with different brokers and to take advantage of whatever great offers they may have on the table. Exercising Many due diligence at the start will prevent a lot of heartache later on. A good Forex broker should be able to serve you become more successful in your trading. Make sure you use a Great Forex Broker and make your Forex trading a profitable one.

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The Important Things About Forex Trading

How difficult is it to make money trading the Forex market? How much time does it take to actually be able to make a living trading the Forex market? These and other important aspects of trading are to be discussed in this article.

Trading the Forex market has many benefits over other financial markets, among the most important are: superior liquidity, 24hrs market, better execution, and others. Traders and investor see the Forex market as a new speculation or diversifying opportunity because of these benefits. Does this mean that it is easy to make money trading the Forex Market? Not at all.

Forex brokers agree that 90% of traders end up losing money, 5% of traders end up at break even and only 5% of them achieve consistent profitable results. With these statistics shown, I don’t consider trading to be an easy task. But, is it harder to master any other endeavor? I don’t think so, consider musicians, writers, or even other businesses, the success rates are about the same, there are a whole bunch of them who never got to the top.

Now that we know it is not easy to achieve consistent profitable results, a must question would be, Why is it that some traders succeed while others fail to trade successfully in the Forex market? There is no hard answer to this question, or a recipe to follow to achieve consistent profitable results. What we do know is that traders that reach the top think different. That’s right, they don’t follow the crowd, they are an independent part of the crowd.

A few things that separate the top traders from the rest are:

Education: They are very well educated in the matter; they have chosen to learn every single and important aspect of trading. The best traders know that every trade is a learning experience. They approach the Forex market with humility, otherwise the market will prove them wrong.

Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.

Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.

Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.

Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.

These are, among others, the most important factors that influence the success rate of Forex traders.

We know now that it is not easy to make money trading the Forex market, but it is possible. We also discussed the most important factors that influence the rate of success of Forex traders. But, how much time does it take to have consistent profitable results? It is different from trader to trader. For some, it could take a life time, and still don’t get the desired results, for some others, a few years are enough to get consistent profitable results. The answer to this question may vary, but what I want to make clear here is that trading successfully is a process, it’s not something you can do in a short period of time.

Trading successfully is no easy task; it is a process and could take years to achieve the desired results. There are a few things though every trader should take in consideration that could accelerate the process: having a trading system, using money management, education, being aware of psychological issues, discipline to follow your trading system and your trading plan, and others.

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