Saturday, April 28, 2007
Importance of Fundamental announcements in currency trading market
Importance of Fundamental announcements in currency trading market -
Just like a space craft going to be launched requires a fire thrust to launch into air, the same way the forex trading market requires the fuel of fundamental news and announcement.
Many of the times you must have seen that market is range trading meas the currency pair price is bouncing between a support and resistance line..Though its a very profitable trading situation, still most of traders prefer to trade when forex market is in trending. This is true for swing trading and day forex trading across global.
Thats what the fundamental announcements such as NFP (Non farm Payroll), FOMC etc. do to the forex trading market..They give it a push and makes the range bound market a trending one. However, since there are not many strong strategy or ebooks available in market that I am aware of that tell you how to take advantage of these news. However, I know there are still some people that do fx trading using these declaration.
Thats all in this session..Next session visit again to learn more in online forex trading..
Just like a space craft going to be launched requires a fire thrust to launch into air, the same way the forex trading market requires the fuel of fundamental news and announcement.
Many of the times you must have seen that market is range trading meas the currency pair price is bouncing between a support and resistance line..Though its a very profitable trading situation, still most of traders prefer to trade when forex market is in trending. This is true for swing trading and day forex trading across global.
Thats what the fundamental announcements such as NFP (Non farm Payroll), FOMC etc. do to the forex trading market..They give it a push and makes the range bound market a trending one. However, since there are not many strong strategy or ebooks available in market that I am aware of that tell you how to take advantage of these news. However, I know there are still some people that do fx trading using these declaration.
Thats all in this session..Next session visit again to learn more in online forex trading..
Labels: forex day trading, forex trading ebook, fundamental announcement, fundamental news, fx trading, range trading, swing trading
Monday, April 23, 2007
You asked on Peter Bain Pivot points forex course and I am answering it
You asked on Peter Bain Pivot points forex course and I am answering it -
Since the time I recommended Peter Bain's forex mentor trading course, few of you have come back to me with a common question - "Is it worth an investement?"
My answer will be "Yes!!! If and only if you like doing day trading." This essentially means that if you keep your trades open from few minutes to few hours and not overnight, then your style of placing trades is day trading and this course is for you.
Think about it - This course is I guess from $300 to $450. $300 is online version and $450 is DVD version. If you convert it into pips - Its 300 to 450 pips you are talking about if you have a mini forex account. Earning 20 pips a day will mean that you paid for the entire course in just one month.
Now consider this that you don't have a course or a system in place and you try making trades using hit and trial and end up spending months without making a dime and end up under loss.
Also, the advantage of the pivot point course that Peter is offerring is that he has included 6 month membership ..Wow!!!! Visit his site about forex mentor to find what you can do with the membership!!
So you ask me tomorrow or 1 week down the line or 10 days down the line with same question, I'll say that yes the Peter bain's course is worth an investment!!
Thats all in this session..Visit again to learn more on Forex day Trading.
Since the time I recommended Peter Bain's forex mentor trading course, few of you have come back to me with a common question - "Is it worth an investement?"
My answer will be "Yes!!! If and only if you like doing day trading." This essentially means that if you keep your trades open from few minutes to few hours and not overnight, then your style of placing trades is day trading and this course is for you.
Think about it - This course is I guess from $300 to $450. $300 is online version and $450 is DVD version. If you convert it into pips - Its 300 to 450 pips you are talking about if you have a mini forex account. Earning 20 pips a day will mean that you paid for the entire course in just one month.
Now consider this that you don't have a course or a system in place and you try making trades using hit and trial and end up spending months without making a dime and end up under loss.
Also, the advantage of the pivot point course that Peter is offerring is that he has included 6 month membership ..Wow!!!! Visit his site about forex mentor to find what you can do with the membership!!
So you ask me tomorrow or 1 week down the line or 10 days down the line with same question, I'll say that yes the Peter bain's course is worth an investment!!
Thats all in this session..Visit again to learn more on Forex day Trading.
Labels: forex day trading, forex pips, peter bain, pivot points
Saturday, April 21, 2007
Forex Trading at its best when technical indicators work like they should
Forex Trading at its best when technical indicators work like they should -
A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.
The same happenned with AUD/USD. My analsis of this currency pair said that it should bounce from 200 EMA. Spot that happenned in forex day trading..I went in to trade as MACD also crossed up, and made 55 pips. Most of the times I use RSI as the trigger. But this time MACD turned out to be the trigerring indicator.
However, still I maintain that the most volatile currency pair is GBP/USD followed by USD/CHF and EUR/USD. They respond to technical indicators very well.
Thats all in this session..Thanks for visiting. Come again to learn more about currency trading.
A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.
The same happenned with AUD/USD. My analsis of this currency pair said that it should bounce from 200 EMA. Spot that happenned in forex day trading..I went in to trade as MACD also crossed up, and made 55 pips. Most of the times I use RSI as the trigger. But this time MACD turned out to be the trigerring indicator.
However, still I maintain that the most volatile currency pair is GBP/USD followed by USD/CHF and EUR/USD. They respond to technical indicators very well.
Thats all in this session..Thanks for visiting. Come again to learn more about currency trading.
Labels: aud/usd. voltile currency pair, currency trading, EUR/USD, forex day trading, forex ema, forex macd, forex technical indicators, GBP/USD, technical analysis
Wednesday, April 18, 2007
Forex Trading using MACD
Forex Trading using MACD -
As I mentioned in one of my previous posts, MACD is one of the very powerful and widely used technical indicator. In fact it is one of the very common indicators used in most of the currency trading system.
However, this indicator needs to be used very smartly. Thats because this is a lagging indicator, which means that it gives a trading confirmation after the event has already occured. However, it is more than useful. Still I have found that newbies are not able to understand how to use full advantage of this.
Well, I have come across a course that can help you with this..Its the famous forex trading and education course from Peter Bain. Its called Forex Mentorship course. The course takes the advantage of MACD & Pivot points very beautifully. The course is more of forex day trading course and is DVD based. So, its not an ebook where you don't have visually someone taking you through it.
I went through the system last week and was more than impressed. In fact its so good that I have put a banner of this trading course on this blog and am recommending it to all the readers.
Here is something. The course is a bit pricey..Not as much as other courses available. However, more than a typical ebook. But, I have seen that newbies purchasing one ebook which they won't understand completely and then will buy another and then another. Eventually they will realize that they almost have spend $1000 and still haven't learned much about a proven system.
Instead, here is what I recommend - Buy this system from Peter Bain and then this alone should be sufficient. Go through it and then paper trade for a while and then go live in the forex market.
Thats all in this session. Visit again to learn more on Forex day trading.
As I mentioned in one of my previous posts, MACD is one of the very powerful and widely used technical indicator. In fact it is one of the very common indicators used in most of the currency trading system.
However, this indicator needs to be used very smartly. Thats because this is a lagging indicator, which means that it gives a trading confirmation after the event has already occured. However, it is more than useful. Still I have found that newbies are not able to understand how to use full advantage of this.
Well, I have come across a course that can help you with this..Its the famous forex trading and education course from Peter Bain. Its called Forex Mentorship course. The course takes the advantage of MACD & Pivot points very beautifully. The course is more of forex day trading course and is DVD based. So, its not an ebook where you don't have visually someone taking you through it.
I went through the system last week and was more than impressed. In fact its so good that I have put a banner of this trading course on this blog and am recommending it to all the readers.
Here is something. The course is a bit pricey..Not as much as other courses available. However, more than a typical ebook. But, I have seen that newbies purchasing one ebook which they won't understand completely and then will buy another and then another. Eventually they will realize that they almost have spend $1000 and still haven't learned much about a proven system.
Instead, here is what I recommend - Buy this system from Peter Bain and then this alone should be sufficient. Go through it and then paper trade for a while and then go live in the forex market.
Thats all in this session. Visit again to learn more on Forex day trading.
Labels: currency trading, forex day trading, forex mentor, forex trading ebook, MACD, peter bain
Tuesday, April 17, 2007
No stopping for GBP Pound
Milestone in the currency market - No stopping for GBP Pound.
Today the GBP/USD currency pair touched 2.0000 mark which means that 1 USD = 2 GBP.
The expert team is not sure till when will this run of pound going to continue. When I look at the daily chart I find the currency pair to be in 5th Elliot wave which means that the run can stop any time. My guess is that it will run till 2.150 or where abouts.
As per the hour chart the currency pair already has run 400 pips. So, I am not in favour of doing any trading at this point on this currency pair. No position or swing trading, nor even day trading.
MACD and RSI are also declining as I am writing. Instead, I have opened a forex trade on USD/CHF. This is currenctly in 35 pips profit. I'll keep you posted on the progress.
By the way, my last trade on AUD/USD ended in -45pips. It touched my stop loss. I was expecting the currency pair to go $$ bullish, but it went otherwise.
Thats all in this session of learning forex trading. Keep visiting to learn more.
GDFBCCC18210666
Today the GBP/USD currency pair touched 2.0000 mark which means that 1 USD = 2 GBP.
The expert team is not sure till when will this run of pound going to continue. When I look at the daily chart I find the currency pair to be in 5th Elliot wave which means that the run can stop any time. My guess is that it will run till 2.150 or where abouts.
As per the hour chart the currency pair already has run 400 pips. So, I am not in favour of doing any trading at this point on this currency pair. No position or swing trading, nor even day trading.
MACD and RSI are also declining as I am writing. Instead, I have opened a forex trade on USD/CHF. This is currenctly in 35 pips profit. I'll keep you posted on the progress.
By the way, my last trade on AUD/USD ended in -45pips. It touched my stop loss. I was expecting the currency pair to go $$ bullish, but it went otherwise.
Thats all in this session of learning forex trading. Keep visiting to learn more.
GDFBCCC18210666
Labels: currency trading, Elliott wave, forex trading, GBP/USD, MACD, usd/chf
Sunday, April 15, 2007
The week opens and so do the forex trader's trading station
The new trading week opens and so do the forex trader's trading station.
Today is sunday and the Australian and JPY market are open and I am alreading seeing a lot activity by the currenc traders. Typically this time of the day the volatility is very less. Today its a bit high.
The currency pair that is interesting me more is the GBP/USD. The currency pair is already making adouble top. To confirm the bearish tendency, the MACD is making a negative divergence. This is making me think to go USD bullish. So, I have gone short on GBP/USD.
I thought od using RSI or Stochastic to confirm my trade, however that would have made the trade bit more complicated.
Remember MACD convergence and divergence are very powerful technical analysis indicators for any sort of trading such as stock or forex. Day trading or swing trading.
I'll keep you posted on my progress on this trade..So far I am -15 pips.. Yes currently its in -ve.
Today is sunday and the Australian and JPY market are open and I am alreading seeing a lot activity by the currenc traders. Typically this time of the day the volatility is very less. Today its a bit high.
The currency pair that is interesting me more is the GBP/USD. The currency pair is already making adouble top. To confirm the bearish tendency, the MACD is making a negative divergence. This is making me think to go USD bullish. So, I have gone short on GBP/USD.
I thought od using RSI or Stochastic to confirm my trade, however that would have made the trade bit more complicated.
Remember MACD convergence and divergence are very powerful technical analysis indicators for any sort of trading such as stock or forex. Day trading or swing trading.
I'll keep you posted on my progress on this trade..So far I am -15 pips.. Yes currently its in -ve.
Labels: forex day trading, forex pips, forex traders, GBP/USD, MACD
Thursday, April 12, 2007
Placing the trades using Pivot Points
Placing the trades using Pivot Points -
Apart from the common indicators such as EMA, RSI and Fibonacci, another technical indicator is very popular between trades which is pivot points. This technical indicator is mostly used for currency day trading.
Point pointsare nothing but some pre-identified support and resistance levels which are something like mutually agreed between the traders in themarket.
They are influenced by the price action that took place in last 24 hours. So if a trader tries to identfy the pivots for today, s/he needs to check what is the price action that took place in last 24 hours.
Generally when trades are placed using pivots, the profit range is 35-50 pips. So, thats very nice profit..
In all Pivot point system is very reliable. However, I have not personally tried it yet. I am more into placing trades using EMA and MACD, stochastic etc.
In the next post, I'll mention some of the courses or ebook in the market that are based on pivot points..
Thats all in today's session..Visit again to learn more on forex day trading..
Apart from the common indicators such as EMA, RSI and Fibonacci, another technical indicator is very popular between trades which is pivot points. This technical indicator is mostly used for currency day trading.
Point pointsare nothing but some pre-identified support and resistance levels which are something like mutually agreed between the traders in themarket.
They are influenced by the price action that took place in last 24 hours. So if a trader tries to identfy the pivots for today, s/he needs to check what is the price action that took place in last 24 hours.
Generally when trades are placed using pivots, the profit range is 35-50 pips. So, thats very nice profit..
In all Pivot point system is very reliable. However, I have not personally tried it yet. I am more into placing trades using EMA and MACD, stochastic etc.
In the next post, I'll mention some of the courses or ebook in the market that are based on pivot points..
Thats all in today's session..Visit again to learn more on forex day trading..
Labels: fibonacci levels, forex pips, forex technical indicators, forex trading ebook, MACD, pivot points, technical analysis
Tuesday, April 10, 2007
Trading with EUR, GBP
Trading with EUR, GBP - The popular currency pairs
Ever thought which are the most popular currency pairs to trade? Yes, EUR/USD is the popular of all and generally has tightest of spreads which is 2-3 pips depending on the broker.
The next is GBP/USD - the highly volatile and has spread of 4-5 pips.
What follows is USD/CHF and USD/JPY. Generally have 4-5 pips spread.
Remember the high the volatile the currency pairr is, the more it will honour technical analysis and corresponding indicators such as EMA, fibonacci levels, MACD, RSI etc. etc.
The exception being USD/CAD and USD/JPY which I have noticed is highly fundamental announcements and news impacted. Such as Oil price drives USD/CAD very heavily.
Also, the high the volatility, the more popular the pair is and the more ebooks are written for that currency pair. For e.g. ones written by Avi Frister or by Marc Mcrae. Not only that, people develop separate strategy for day trading that forex pair and some develop swing trading strategies as well.
I have not heard any one developing startegy for EUR/GBP since it is not that volatile.
Thats all in this session.Visit again to learn more on the exciting market of currency trading.
Ever thought which are the most popular currency pairs to trade? Yes, EUR/USD is the popular of all and generally has tightest of spreads which is 2-3 pips depending on the broker.
The next is GBP/USD - the highly volatile and has spread of 4-5 pips.
What follows is USD/CHF and USD/JPY. Generally have 4-5 pips spread.
Remember the high the volatile the currency pairr is, the more it will honour technical analysis and corresponding indicators such as EMA, fibonacci levels, MACD, RSI etc. etc.
The exception being USD/CAD and USD/JPY which I have noticed is highly fundamental announcements and news impacted. Such as Oil price drives USD/CAD very heavily.
Also, the high the volatility, the more popular the pair is and the more ebooks are written for that currency pair. For e.g. ones written by Avi Frister or by Marc Mcrae. Not only that, people develop separate strategy for day trading that forex pair and some develop swing trading strategies as well.
I have not heard any one developing startegy for EUR/GBP since it is not that volatile.
Thats all in this session.Visit again to learn more on the exciting market of currency trading.
Labels: EMA, fibonacci levels, forex day trading, forex pips, forex technical indicators, fundamental announcement, fundamental news, spread, technical analysis, volatility
Monday, April 09, 2007
Forex Day Trading System : Resources for Forex Charts
Forex Day Trading System : Resources for Forex Charts
In one of my articles few days back, I mentioned the importance of reliable and realtime forex chart. Some of you have asked me few sources for them.
The best source is the chart service that your broker provides. So, for e.g. since I use the plateform offerred by FXCM, I use the chart provided by them since my buy and sell price are reflected in the charts provided by them.
Other than that, the sources are -
www.dailyfx.com - Great site with important news and links to free and paid forex charts
www.esignal.com - Paid service. However, if you are beginner in forex market, I recommend you to use free charts only.
By the way, did any one of you traded the fundamental announcement and news of NFP (Non farm payroll)?
Thats all in this session to learn day trading the currency market. Visit again to learn more about forex tips and tricks.
In one of my articles few days back, I mentioned the importance of reliable and realtime forex chart. Some of you have asked me few sources for them.
The best source is the chart service that your broker provides. So, for e.g. since I use the plateform offerred by FXCM, I use the chart provided by them since my buy and sell price are reflected in the charts provided by them.
Other than that, the sources are -
www.dailyfx.com - Great site with important news and links to free and paid forex charts
www.esignal.com - Paid service. However, if you are beginner in forex market, I recommend you to use free charts only.
By the way, did any one of you traded the fundamental announcement and news of NFP (Non farm payroll)?
Thats all in this session to learn day trading the currency market. Visit again to learn more about forex tips and tricks.
Labels: currency trading, forex broker, forex chart, forex day trading, fundamental announcement, fundamental news
Sunday, April 08, 2007
Day trading the Forex: Zing is missing from the NFP announcements
Day trading the Forex: Zing is missing from the NFP announcements
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Labels: avi frister, currency trading, forex day trading, fundamental announcement, fundamental news, nfp, non farm payroll
Thursday, April 05, 2007
Forex Day Trading System - Its that time of month again
Forex Day Trading System - Its that time of month again
Yes, its Non farm Payroll time..or popularly known as nfp..The hottest news of monthly forex calender. As like last month, I am going to try few forex strategies that learnt from Avi Frister's popular ebook. Also, I am going to try some more startegies that I am trying to develop on my own.
For the last 2 months, I am finding that NFP is not mooving the market so much. Last 2 months, the average movement of EUR/USD is 80-90 pips, where as month prior to that it was 135 pips..
I am not sure, what is the reason for that. However, still I am going to try these strategies that I are a part of Forex Trading Machine ebook.
Also, for all of you who were asking about my trades using ebook written by Adam Burgoyne called 5 EMA forex trading system, let me tell you that it is a wonderful ebook, however, before you place the trade using it, read it very carefully. Because for the strategy to be effective, please make sure that you have not missed any details.
If you are going to place any trades for NFP tomorrow and you are not proficient in that, please try it on demo account.
Thats all in this session..
Yes, its Non farm Payroll time..or popularly known as nfp..The hottest news of monthly forex calender. As like last month, I am going to try few forex strategies that learnt from Avi Frister's popular ebook. Also, I am going to try some more startegies that I am trying to develop on my own.
For the last 2 months, I am finding that NFP is not mooving the market so much. Last 2 months, the average movement of EUR/USD is 80-90 pips, where as month prior to that it was 135 pips..
I am not sure, what is the reason for that. However, still I am going to try these strategies that I are a part of Forex Trading Machine ebook.
Also, for all of you who were asking about my trades using ebook written by Adam Burgoyne called 5 EMA forex trading system, let me tell you that it is a wonderful ebook, however, before you place the trade using it, read it very carefully. Because for the strategy to be effective, please make sure that you have not missed any details.
If you are going to place any trades for NFP tomorrow and you are not proficient in that, please try it on demo account.
Thats all in this session..
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, forex trading machine, fundamental announcement, nfp, non farm payroll
