Wednesday, October 10, 2007
Forex Day Trading System - Answers to your questions
Quite a few of you ask me some questions on trading the market better. Most of these questions are to find out which forex currency pair to trade and how to identify the entry and exit points. Few of the questions are on money management also.
I'll try to answer few of these -
Q - How should I identify the entry point when trading GBP/USD on a 15 min. chart?
A - Trading any currency pair will require he view at a high level. So in your case you need to see the trend on a 1 hr chart. If it is bullish, your forex trade entry direction should be long. After this, you should use your forex trading strtaegy to identify when should you enter. For. e.g. if you trade using support and resistance, then identify a major resistance on 1hr chart and one the market bounces from that level, open your trade.
Along with your entry, you should place equal emphasis on exit also.
Q. Which currency pair is best to day trading?
A. It depends on the time frame. If you are trading between 8 AM EST to 2 PM EST, you should only trade USD based pairs such as EUR/USD, USD/CHF, GBP/USD etc. But try to pick only those frex pairs in which the spread is low because in daytrading your profit levels are low (In range of 30-40 pips max.)
Q. Which forex trading strategy course should I be using?
A. 5 EMAS forex trading strategy and Forex Trading machine ..Hands down. I won't recommend any other. However use only one of them. Both are different is using.
While forex trading machine from Avi Frister is more automated type of trading system, 5EMAs forex trading by Adam Burgoyne requires to identify entry and exit signals..So on the basis of your trading style, select only one of them.
Thats all in this message..I'll answer your other questions in other messages. If you have any, please feel free to post in the comments.
Keep visiting to learn more in online forex mrket and trading.
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, currency pair, entry and exit, forex day trading, forex trading ebook, forex trading machine, GBP/USD
Wednesday, August 29, 2007
Forex day trading - Range of any currency
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, entry and exit, forex pips, forex trading ebook, forex trading machine, nfp
Sunday, July 22, 2007
An amazing Forex Trading system at stunning price
Anyone who trades forex or options or commodities or anything, knows the importance of a trading system. The system not only has to be good and easy to understand, but should also be reliable under any market conditions.
Thats what Adam Burgoyne's 5EMAs forex trading system does.
1. The system goes excellent entry points and exit points
2. It is easy to use on the forex charts.
3. The technical indicators are the most popular ones and easy to understand.
4. It can be back tested very very easily.
5. On top of it, it is extremely reliable.
6. The ebook comes with excellent 8 bonuses.7. There is 56 days money back gaurantee!!!!!!!!!!!!!!!!!!!
Are you ready to hear it?? Are you sure??
He has reduced the price of the product for next few visitors or the next few days which ever happens 1st.
He offers 2 versions of the system -
A. The professional package is available for a $52 discount and is available only for $77.
B. The 2nd is ultimate package and is truely ultimate in terms of content and in terms of price - It comes for only $122 . This means the product has $191 discount.
Like I mentioned he is offerring this only for next few visitors (To be honest I doubt it..This could be just some marketing tactics), or for the next few days (My guess is this will be true).
So, go ahead and check this system out..This forex system is amiozing and on top of it the deal is phenomenal..Take advantage of this opportunity.
P.S. To be honest I am not sure why Adam has to reduce the price since this ebook package was already in so much demand and so many copies were getting sold daily. But who cares..this is your gain since now you can buy this great package at highly cheap price.
Go ahead and buy Adam Burgoyne's famous 5 EMA forex trading package
Labels: 5 EMA forex trading system, 5 EMAs Forex Trading System, Adam Burgoyne, entry and exit, Forex day trading system, forex ema, forex Entry, forex technical indicators
Friday, July 13, 2007
Forex Day Trading system - Major top in the EUR/USD
Forex Day Trading system - Major top in the EUR/USD
I am watching this currency pair for past 2 days..I am finding that a major top is in place..Thats why even if my trading system is saying that go long, I am not. If you notice, the current level of EUR/USD is offerring a major resistance. The pair has been rejected multiple times from that level..
I'll do either of the below two -
1. Go long only when this resistance level has been broken.
2. Go short once my trading system confirms it. According to me retracement is on the cards.
My trading system now a days is the one that Adam Burgoyne has given in his "5 EMAs forex trading system"..What a superb ebook he has written..Definitely Worth buying..!!!!
Click here if you would like to know what is in this ebook!!
The same is true for GBP/USD also..
Thats all in this post..Visit again to learn more..Labels: 5 EMAs Forex Trading System, Adam Burgoyne, EUR/USD, forex trading ebook, support and resistance
Sunday, July 01, 2007
Forex Day Trading System - GBP/USD is all about going long
The GBP/USD after a 2 month retracement is back to long ways again..It has broken the 2.0000 barrier once again. It briefly retraced on past wednesday and thursday, but on friday it zoomed up just like EUR/USD.
The technical indicators were perfectly lined up. I used the system specified by Adam Burgoyne in the forex trading system that he mentions in his ebook. I used the strategy and made nice little 65 pips..
Yes, I tried Adam Burgoyne's "5 EMAs forex trading system" for the 1st time on a real account and it worked great.. 65 pips is excellent return for a day and with a stop loss of only 33 pips. The system as the name suggests is using the most popular technical indicator of EMA. You should check out his system. Not only is the system good, Adam also offers some very cool bonuses.
Now how to take profit from the recent break by GBP/USD - Since it is over 2.0000, according to me I would wait for a retracement in the range of 2.0000 through 2.0025. If it comes in that range, I'll go long again and place my limit order at 2.10000.
Again, if EMA system as told by Adam also confirms the same, Its going all long on the GBP/USD currency pair. Click Here to find more about the system told by Adam.
Thats all in this post on foreex day trading..Visit again to learn more on currency trading.
Labels: 5 EMA forex trading system, 5 EMAs Forex Trading System, Adam Burgoyne, forex ema, forex pips, forex technical indicators, GBP/USD
Saturday, June 02, 2007
Famous and reliable resources to learn Forex Trading
Famous and reliable resources to learn Forex Trading -
Thanks for visiting my site again. As I was mentioning in my last post, this post is about relaible resources for learning currency trading. Without learning from the great resources if you start trading, let me tell you that it is as good as seeing money go down the drain.
So, choice of a good resource ( an ebook, or a video course, a paid mentore etc. or even a free website like mine..:-)) is the key to learn forex trading.
Here are my recommended resources -
1. Peter Bain's forex mentor - By far the best video based course. Contains a lots of DVDs and detailed explaination with example and conatins 6 month membership to his daily recommendations. Costs about $450 which I consider is equivalent of 45 pips on EUR/USD only..:-)
2. Avi Frister's Forex Trading Machine - As you know I recommend this ebook heavily. Excellent and very simple to understand. Great examples in the ebook. Besides, here is another thing I was told by him in one of his emails in last few days since I bought his Forex Trading Machine ebook - "He has created video lessons of what he teaches in the ebook". Also, Avi Frister is telling all the buyers about the strategy on high to make money during NFP announcement. The price is just $97 (equivalent to 10 pips..:-))
3. 5 EMA forex trading system - Another excellent ebook. Simple and yet very very effective. As you know that EMA are the straight forward technical indicators to use. This ebook explores its use in this system very effectively. Adam Burgoyne has truly created a fantastic product. Price for this ebook is again very low - $97 (10 pips..:-))
I won't recommend you to subscribe to any forex trading signal services..Whats the fun if you don't know what you are doing.
Mind you, you should buy the courses/ebooks explaining a strategy only when you have solid understanding of technical indicators..After that if you buy any of the recommended resources, they will make great sense to you.
Thats all in this post. Visit again to learn more on the world of forex trading.
Labels: 5 EMA forex trading system, Adam Burgoyne, avi frister, EMA, forex pips, forex trading ebook, forex trading machine, learn forex trading, nfp, peter bain
Tuesday, May 22, 2007
The Forex Trading Blog - Some interesting facts..:-)
As I mentioned in my previous post, it took more than 5 days infact 7 days to be precise for the 1st visitor to visit this site since I started it on 13-May-06. However once it started, there is constant increase in the readership.
The most popular post that is read again and again on this site is the one in which I mentioned the ebook I recommend - Forex Trading Machine from Avi Frister and 5 EMA forex trading system by Adam Burgoyne. These 2 ebooks are truely great.
The most famous question that my readers keep asking me again and again is "Which currency pair should one trade". I recommend the USD based currency pair since the spreads are very tight.
The most common technical indicator that I guess readers are interested is EMA and people always ask me the settings for the EMA.
There are 177 RSS subscribers to my blog (2 added since my last post..:-)) ..Out of these 40% are USA based and 25% are UK based. To my surprise, 5% are indians. I was expecting less than that.
I asked in one of my posts that which fundamental announcement do people like to trade the most. The response was..Yes, NFP (Non farm payroll).. Altough its a very volatile & risky news, still it seems to be the favourite. If you are trading using that, I suggest you to use the strategy that Avi frister provides when one buys his Forex Trading Machine ebook
Thats all in today's post..I'll share some more interesting facts in my next message..Keep visiting to learn more. Infact I encourage you to add the RSS feed to your site so that you are always aware when I post about online forex trading which I do quite frequently..:-).
Labels: 5 EMA forex trading system, Adam Burgoyne, avi frister, EMA, forex trading machine, fundamental announcement, fundamental news, technical analysis
Thursday, May 03, 2007
Major currency pairs are showing the reversal pattern
GBP/USD, EUR/USD, AUD/USD, USD/CHF, NZD/USD all are showing major reversal patterns after an extended run...
The GBP/USD after this extensive run where it broke above 2.0000 barrier is now heading down.. Considering that its a great time to go short or pro USD.
Use a forex trading system and identify an entry bpoint to go short.. There are quite a few popular suystems such as one by peter bain I recommend and also from Avi frister or Adam Burgoyne forex trading ebook ...
Aso,please note that tomorrow NFP (Non Farm Payrolls) are going to be declared..So watch out for this fundamental news before you place trade using technical indicators..
Thats all in this session..Visit again
Forex day trading system
Labels: Adam Burgoyne, avi frister, EUR/USD, fundamental announcement, fundamental news, GBP/USD, nfp, non farm payroll, peter bain
Thursday, April 05, 2007
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..
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, forex trading machine, fundamental announcement, nfp, non farm payroll
Monday, March 26, 2007
Forex Day Trading system : Hitting of stop loss on my last trade
Today the EUR/USD market unexpectedly turned. Euro became stronger and the currency pair jumped about 100 pips in a span of 2 hours..As expected, it would have taken out the stops of all the forex traders that were short.
That included me as well. My trade was short and was up 67 pips. My stop loss as 40 pips away. Since my stop loss was hit, I ended with a profit of 27 pips on this trade. Not bad!!
The weaking of $$ (dollar..:-)) was seen across the board..In GBP, AUD, NZD and all. However I saw that Eur and so the swiss franc were the big gainers.
Having a stop loss is always advantageous since it protects you from such quick reversals..No matter what kind of trade one may have like on the basis of technical analysis and indicators such as rsi, macd, stochastics etc or if it is a trade purely based on economic analysis..However your stoploss should give room for the currency pair to move as well. So, no point having a stop loss of 15 pips on an hour chart, since the currency pair may just hit that and then go in the direction where one anticipated. True for swing trading as well as forex day tradong and any system for that matter.
Thats all in this session..By the way all those who are using ebook of Avi Frister Forex Trading Machine , how are you finding that ebook??simple and easy to use, right?? And what about the one by Adam Burgoyne called "5 EMA forex trading system"
You might find that these ebooks have different methodologies..which are easy to use and easy to practice.
Labels: 5 EMA forex trading system, Adam Burgoyne, avi frister, EUR/USD, forex pips, forex technical indicators, forex trading machine, stop loss, technical analysis
Wednesday, March 21, 2007
Forex Day Trading System : My trade on EUR/USD
In my last post I mentioned that I opened a EUR/USD trade on a buy side at 1.3306 with target of 1.3345. I kept the stop at 1.3268..
Currently I am 80 pips profit since the EUR bounced higher crossing the double top of 1.3345 resistance. Due to this, I closed on half of the position at 1.3345. This is a gauranteed 39 pips profit for me..The other I am keeping afloat to book more profits.
In between, my trade was in 30 pips loss and as per my trading rules, once the currency pair breaks below a particular EMA level, am supposed to close the trade..However I identified that the 1.3375 was a strong support level with currency pair of EUR/USD consistently bouncing from that, so I stayed in the trade despite it required me to bend my trading rules.
In a nut shell, this trade converted from forex day trading to swing trading.
Different people have different trading styles - Some generally like to have some strategies that are more of trading guidelines and have flexibility of defying them as per forex market conditions like the example mentioned above. Other prefer to have a total mechanical approach. They are the ones that generally don't put too much of focus on technical indicator and their analysis such as mACD, RSI or even EMA (exponential moving average) for that matter.
Many of you have sometimes asked me which ebook is the best for finding the strategies..1st of all, in my blog itself if you continously follow, I reveal strategies from time to time as and when I come across any..However, if you are looking for a specialized ebook that mentions inside out of a forex trading strategy, here are the 2 books which I recommend on the basis of limited trades I placed using the currency trading system mentioned in them -
1. Mechanical trading style - For, this style of traders, the book I recommend is Forex Trading Machine by Avi Frister. I placed 4 swing trades using cash cow system out of which 3 were profitable. Total profit 210 pips.
2. Flexible trading style - These traders should definitley buy 5 EMA forex trading system by Adam Burgoyne. Great system..I placed 3 trades using my demo account on this with total profit of 177 pips.
So, decide what is your trading style and if you are looking for a system, then above mentioned two ebooks should be bought. However, use the strategies mentioned in them in your demo account 1st. Also, if you are totally new to forex trading, I suggest you to learn the important technical indicators 1st.
Thats all in this message..Visit again to learn more on online currency day trading.
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, EMA, Forex day trading system, forex pips, rsi, technical analysis
