Friday, March 14, 2008
Forex Assassin Review - I made few trades
I bought Forex Assassin system yesterday since It was recommended to me by a forex expert who I know is very reputed. Along with that what made me curious was the claim that this system will require only few min per week to identify and placing a forex trade.
So yesterday I bought it & started going through it to understand strategy. I was also looking at which currency pair does it works for. I always use the system that work with atleast EUR/USD and GBP/USD.
I completed reading it within 2 hrs. The book contains no fluff . Just straightforward points.
I was paying special attention to the formula of Forex Assassin system and the logic behind it. It looked to be pretty interesting, though it took a while for me to understand it.
But being good on paper is one thing. I was very interested in finding out how will the strategy work in the live market.
So, as always with any system I use in beginning, I applied the strategy of Forex Assassin in my Demo account. Yes, Demo account!! Why risk real money on an un-tried system?
I placed a buy trade on EUR/USD in the British session at the entry point mentioned by the formula. The exit point was only 37 pips away. Generally I don't trade with these tight targets, but I needed to try this system. And it was demo account, so there was no risk.
Forex Assassin worked!! Yes, I made 37 pips in just 2 hrs. It was nice.
After that I tried the system on EUR/USD again and GBP/USD to see how reliable it is. Both time I ended up making profits of about 50 pips and 57 pips. So, inall I made 144 pips with 3 trades.
This is great to know. But I'll continue making few more trades and then if the results are reliable, then I'll switch to trade in live market on as soon as coming Wednesday.
Click Here if you want your copy of Forex Assassin
Remember, once you buy it, use it 1st on a demo account and once you get used to it, then only use the strategies on live account.
This is so far my review of Forex Assassin.
So yesterday I bought it & started going through it to understand strategy. I was also looking at which currency pair does it works for. I always use the system that work with atleast EUR/USD and GBP/USD.
I completed reading it within 2 hrs. The book contains no fluff . Just straightforward points.
I was paying special attention to the formula of Forex Assassin system and the logic behind it. It looked to be pretty interesting, though it took a while for me to understand it.
But being good on paper is one thing. I was very interested in finding out how will the strategy work in the live market.
So, as always with any system I use in beginning, I applied the strategy of Forex Assassin in my Demo account. Yes, Demo account!! Why risk real money on an un-tried system?
I placed a buy trade on EUR/USD in the British session at the entry point mentioned by the formula. The exit point was only 37 pips away. Generally I don't trade with these tight targets, but I needed to try this system. And it was demo account, so there was no risk.
Forex Assassin worked!! Yes, I made 37 pips in just 2 hrs. It was nice.
After that I tried the system on EUR/USD again and GBP/USD to see how reliable it is. Both time I ended up making profits of about 50 pips and 57 pips. So, inall I made 144 pips with 3 trades.
This is great to know. But I'll continue making few more trades and then if the results are reliable, then I'll switch to trade in live market on as soon as coming Wednesday.
Click Here if you want your copy of Forex Assassin
Remember, once you buy it, use it 1st on a demo account and once you get used to it, then only use the strategies on live account.
This is so far my review of Forex Assassin.
Labels: EUR/USD, Forex Assassin, forex assassin formula, Forex Assassin review
Monday, October 29, 2007
Forex Day Trading System - Where will the anti USD rally End?
Forex Day Trading System - Where will the anti USD rally End?
USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.
Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.
Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have to do is trade only in the direction of trend which means don't open the currency trade that is bullish on USD.
This effectively means that buy only when the currency pairs are retracing. So, when EUR/USD is retracing and hits a pivot point, then open the trade on confirmation. The pivot point can be a major support resistance level such as 38.2/50/61.8 fibonacci level, a major support line, 200 EMA, double bottom pint etc.
Currently it just looks USD bearish. So use your forex system and enter the trade..:-)
Thats all in this short message..Keep visiting to learn more on online forex trading.
USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.
Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.
Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have to do is trade only in the direction of trend which means don't open the currency trade that is bullish on USD.
This effectively means that buy only when the currency pairs are retracing. So, when EUR/USD is retracing and hits a pivot point, then open the trade on confirmation. The pivot point can be a major support resistance level such as 38.2/50/61.8 fibonacci level, a major support line, 200 EMA, double bottom pint etc.
Currently it just looks USD bearish. So use your forex system and enter the trade..:-)
Thats all in this short message..Keep visiting to learn more on online forex trading.
Labels: EUR/USD, forex day trading, GBP/USD, pivot points, support and resistance
Friday, August 17, 2007
Forex Day Trading - Pounding by USD
Forex Day Trading - Pounding by USD on all the currency pairs
Did you notice what happenned to forex market in last 4-5 days? Yes..The big USD has hit back on all the currencies..No exceptions (There is one - JPY).
EUR/USD dropped by 350 pints, GBP/USD dropped by 450 and so on and so forth. This was an excellent opportunity to make some great forex pips. I placed trade on EUR/USD and made 155 pips. The market was really great trend wise.
The technical indicators were all holding up - there was a massive MACD divergance on daily chart, the EMA, the stochastic and RSI, all were confirming USD bullishness.
The only thing left to be done was to follow a strong trading system and make good profit using good entry and exit points.
Did you notice what happenned to forex market in last 4-5 days? Yes..The big USD has hit back on all the currencies..No exceptions (There is one - JPY).
EUR/USD dropped by 350 pints, GBP/USD dropped by 450 and so on and so forth. This was an excellent opportunity to make some great forex pips. I placed trade on EUR/USD and made 155 pips. The market was really great trend wise.
The technical indicators were all holding up - there was a massive MACD divergance on daily chart, the EMA, the stochastic and RSI, all were confirming USD bullishness.
The only thing left to be done was to follow a strong trading system and make good profit using good entry and exit points.
Labels: entry and exit, EUR/USD, forex day trading, forex ema, forex macd, GBP/USD, rsi
Friday, August 03, 2007
NFP today impacted the EUR/USD
NFP today impacted the EUR/USD
Today Non Farm Payroll were announced. As always it caused some ripples in the market and that set the market in motion. EUR/USD especially broke out of the range which it was in for last 2 days.
If you llok at today's NFP announcement, it led to a partial bullish candle on 1 hr chart. After the candle closed at 9 AM EST, the next candle closed outside the highest of the 8 AM candle. That was a huge bullish signal to trade.
Also this forex signal can be considered to be even more stronger considering that the currency pair broker the 200 EMA.
Thats the point when I entered the trade with a very conservative target of 30 pips which is because this is Friday and market will close very soon.
With in next candle my limit order was reached and I ended with 30 pips profit.
Though not very popularly followed, the candlestick analysis is very important and useful.
Thanks all in this session.. Visit again to learn more on forex trading.
Today Non Farm Payroll were announced. As always it caused some ripples in the market and that set the market in motion. EUR/USD especially broke out of the range which it was in for last 2 days.
If you llok at today's NFP announcement, it led to a partial bullish candle on 1 hr chart. After the candle closed at 9 AM EST, the next candle closed outside the highest of the 8 AM candle. That was a huge bullish signal to trade.
Also this forex signal can be considered to be even more stronger considering that the currency pair broker the 200 EMA.
Thats the point when I entered the trade with a very conservative target of 30 pips which is because this is Friday and market will close very soon.
With in next candle my limit order was reached and I ended with 30 pips profit.
Though not very popularly followed, the candlestick analysis is very important and useful.
Thanks all in this session.. Visit again to learn more on forex trading.
Labels: candlestick, EUR/USD, forex Entry, forex pips, nfp, non farm payroll, voltile currency pair
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, June 10, 2007
EUR/USD still looking bearish - More pounding to come from $$
EUR/USD still looking bearish - More pounding to come from $$
The EUR/USD has just now broken a trend support line on daily chart. The ideal way to trade now will be to use your forex trading systems of fibonacci retracements. Identify the next target the USD can go to on the daily chart and then identify the entry and exit points on the 1 hr chart if you do currency swing trading, or 15 min chart if you do the forex day trading.
By looking at the chart, 1.3250 seems to be the next targetwhere the currency pair of EUR/USD may rest. Similarly the GBP/USD is also looking as bearish for the coming week. Alot will depend on the fundamental announcements going tocome next week. There are lots of forex fundamental news on GBP and some on USD that are going to be declared next week. So, watch for their timings before you place a trade.
Thats all in this session...Visit again to learn more on the exciting world of online forex trading.
Labels: EUR/USD, forex day trading, forex Entry, GBP/USD, online forex trading, support and resistance
Saturday, June 09, 2007
A landmark post - USD in massive gains
A landmark post - USD in massive gains
There are 2 points I am trying to cover in this message. The 1st is personnal .. Here it is -
This is the 100 th post on this forex trading blog.. Yes, the overall count has reached triple digits. It started as a small journey with a quick introduction. Now it is a blog where people come regularly to get updates about happenning in Forex market from an angle they can understand very easily. 200+ RSS subscribers are a proof of that.
Out of the last 100 posts, 37 were on common technical indicators such as EMA, MACD, parabolic sar, pivot points. This category seems to be very popular among readers. However the most popular topic has been updates on NFP (Non Farm payroll) fundamental announcement and news.
During the 100 posts I have also mentioned quite a few trading strategy and system. Also, I have recommended the popular ebooks and courses..
The 2nd point I would like to cover in this topic is retaliation of USD against all majors ..USD has been on gaining spree for the last 2 days..It has already moved close to 200 pips against EUR and GBP.. Experts say that it is primarily because of strong rally in stock market or the DOW. However I feel that from technical standpoint also it was due.. The majors had a big run against USD for quite a while. Now the currency pairs will start falling back towards 200 EMA
Thats all in this session..Keep visiting to learn more on Forex day trading.
There are 2 points I am trying to cover in this message. The 1st is personnal .. Here it is -
This is the 100 th post on this forex trading blog.. Yes, the overall count has reached triple digits. It started as a small journey with a quick introduction. Now it is a blog where people come regularly to get updates about happenning in Forex market from an angle they can understand very easily. 200+ RSS subscribers are a proof of that.
Out of the last 100 posts, 37 were on common technical indicators such as EMA, MACD, parabolic sar, pivot points. This category seems to be very popular among readers. However the most popular topic has been updates on NFP (Non Farm payroll) fundamental announcement and news.
During the 100 posts I have also mentioned quite a few trading strategy and system. Also, I have recommended the popular ebooks and courses..
The 2nd point I would like to cover in this topic is retaliation of USD against all majors ..USD has been on gaining spree for the last 2 days..It has already moved close to 200 pips against EUR and GBP.. Experts say that it is primarily because of strong rally in stock market or the DOW. However I feel that from technical standpoint also it was due.. The majors had a big run against USD for quite a while. Now the currency pairs will start falling back towards 200 EMA
Thats all in this session..Keep visiting to learn more on Forex day trading.
Labels: EUR/USD, forex day trading, forex ema, forex macd, forex pips, forex technical indicators, GBP/USD, nfp
Saturday, May 19, 2007
This Forex Trading Blog!!
This Forex Trading Blog!!
Hello Everyone..It is a great feeling to tell you that your favourite blog has completed one year of running on 13-May-07.
Yes, on 13-May-06 I launched this blog and it took 7 days for the 1st visitor to visit this site. Today there are close to 200 visitors that come to this site on daily basis to learn more or share there experience about forex trading. More than 175 people have added the RSS feed of this blog to their newsreader page.
I thank you for making this blog so successful.
Want to know more stats and interseting facts about this site?? Well, I'll share with you tomorrow.
Just one more point, the USD is looking in a major up turn. The USD based major currency pair it seems may move 150 pips more in next 1 week. So look for good entry and exit points to place the trade. The good currency pairs to watch are - EUR/USD, GBP/USD and NZD/USD
Thats all in this edition..Visit again to learn more on the world of online forex trading.
Hello Everyone..It is a great feeling to tell you that your favourite blog has completed one year of running on 13-May-07.
Yes, on 13-May-06 I launched this blog and it took 7 days for the 1st visitor to visit this site. Today there are close to 200 visitors that come to this site on daily basis to learn more or share there experience about forex trading. More than 175 people have added the RSS feed of this blog to their newsreader page.
I thank you for making this blog so successful.
Want to know more stats and interseting facts about this site?? Well, I'll share with you tomorrow.
Just one more point, the USD is looking in a major up turn. The USD based major currency pair it seems may move 150 pips more in next 1 week. So look for good entry and exit points to place the trade. The good currency pairs to watch are - EUR/USD, GBP/USD and NZD/USD
Thats all in this edition..Visit again to learn more on the world of online forex trading.
Labels: currency trading, EUR/USD, GBP/USD, online forex trading, voltile currency pair
Sunday, May 06, 2007
Forex Trading - Something Exciting in May 2007
Forex Trading - Something Exciting in May 2007
There is something exciting in May 2007.. I am happy to tell you about it.
What is it? You will come to know very soon..Can you guess it? If yes, feel free to drop your comments..
A new week has started..Now also the forex trading market temporarily is looking USD bullish..
The EUR/USD currency pair looks to be at the major resistance level.. If it breaks that I guess we may see it reaching 1.3675 which will be +50 pips if I enter at 1.3625
Thats all in this short message...Visit again to learn more on forex or currency trading.
There is something exciting in May 2007.. I am happy to tell you about it.
What is it? You will come to know very soon..Can you guess it? If yes, feel free to drop your comments..
A new week has started..Now also the forex trading market temporarily is looking USD bullish..
The EUR/USD currency pair looks to be at the major resistance level.. If it breaks that I guess we may see it reaching 1.3675 which will be +50 pips if I enter at 1.3625
Thats all in this short message...Visit again to learn more on forex or currency trading.
Labels: currency trading, EUR/USD, forex chart, support and resistance
Thursday, May 03, 2007
Major currency pairs are showing the reversal pattern
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
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
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
Monday, March 26, 2007
Forex Day Trading system : Hitting of stop loss on my last trade
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 $$ (dollar..:-)) was seen across the board..In GBP, AUD, NZD and all. However I saw that Eur and so the swiss franc were the big gainers.
Having a stop loss is always advantageous since it protects you from such quick reversals..No matter what kind of trade one may have like on the basis of technical analysis and indicators such as rsi, macd, stochastics etc or if it is a trade purely based on economic analysis..However your stoploss should give room for the currency pair to move as well. So, no point having a stop loss of 15 pips on an hour chart, since the currency pair may just hit that and then go in the direction where one anticipated. True for swing trading as well as forex day tradong and any system for that matter.
Thats all in this session..By the way all those who are using ebook of Avi Frister Forex Trading Machine , how are you finding that ebook??simple and easy to use, right?? And what about the one by Adam Burgoyne called "5 EMA forex trading system"
You might find that these ebooks have different methodologies..which are easy to use and easy to practice.
Today the EUR/USD market unexpectedly turned. Euro became stronger and the currency pair jumped about 100 pips in a span of 2 hours..As expected, it would have taken out the stops of all the forex traders that were short.
That included me as well. My trade was short and was up 67 pips. My stop loss as 40 pips away. Since my stop loss was hit, I ended with a profit of 27 pips on this trade. Not bad!!
The weaking of $$ (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
Sunday, March 25, 2007
Forex Day Trading System : Another opportunity to trade EUR/USD
Forex Day Trading System : Another opportunity to trade EUR/USD
I mentioned that my previous trade on this currency pair had me a profit of 53 pips..That was when I went long..
After my trailing stop loss was hit, when I looked at the currency pair again on a daily chart, I found that the currency pair has hit a massive resistance..A kind of double top and the currency pair has started retracing..
So, as you can guess, This is another opportunity to trade on hourly chart..This time to go short on EUR/USD. This means that I am buying the USD by selling Euro.
Thats exactly what I did, as soon as the currency pair closed below a particular EMA, I went short. Currently I am at a profot of 37 pips..This is such a nice opportunity, that I again bend one of my trading rules and have left my trade open on the weekend.
This is another trading strategy that can be used. In this forex day trading system, one can look the currency pair to hit a support or resistance on the hourly chart. If the next candlestick shows a reversal patter, go long/short in the direction of reversal candle and place the trade using a 15 min or 5 min. chart with profit target of 25-45 pips
Tis strategy is equally effective for forex swing trading..This time the daily chart to be refferred to identify support and resistance level and trade to be placed using hourly chart for a currency pair. generally, the profit targets should be 80-150 pips!!!
This is a sort of a mechanical forex trading, but not entirely mechanical.
By the way has anyone of you triedany alert service to do currency trading? How effective is it?
Thats all in this message..Visit again to learn more on the online currency trading market.
I mentioned that my previous trade on this currency pair had me a profit of 53 pips..That was when I went long..
After my trailing stop loss was hit, when I looked at the currency pair again on a daily chart, I found that the currency pair has hit a massive resistance..A kind of double top and the currency pair has started retracing..
So, as you can guess, This is another opportunity to trade on hourly chart..This time to go short on EUR/USD. This means that I am buying the USD by selling Euro.
Thats exactly what I did, as soon as the currency pair closed below a particular EMA, I went short. Currently I am at a profot of 37 pips..This is such a nice opportunity, that I again bend one of my trading rules and have left my trade open on the weekend.
This is another trading strategy that can be used. In this forex day trading system, one can look the currency pair to hit a support or resistance on the hourly chart. If the next candlestick shows a reversal patter, go long/short in the direction of reversal candle and place the trade using a 15 min or 5 min. chart with profit target of 25-45 pips
Tis strategy is equally effective for forex swing trading..This time the daily chart to be refferred to identify support and resistance level and trade to be placed using hourly chart for a currency pair. generally, the profit targets should be 80-150 pips!!!
This is a sort of a mechanical forex trading, but not entirely mechanical.
By the way has anyone of you triedany alert service to do currency trading? How effective is it?
Thats all in this message..Visit again to learn more on the online currency trading market.
Labels: EMA, EUR/USD, Forex day trading system, forex pips, mechanical forex trading, stop, stop loss, support and resistance, swing trading
Monday, March 19, 2007
Forex Day Trading system - Quick chances of market reversel for EUR/USD
Forex Day Trading system - EUR/USD at important resistance area
This currency pair is at a very high point as per the daily charts..So, it is at a very strong resistance area. If it breaks that, then the trading charts will show the forex market zoom.
If the market is high on daily charts, one still has the chance to do forex day trading by being bullish since in that case you are looking for a profit of 20-25 pips per trade. However, the swing trading is slightly risky since the swing trading is mostly done using an hour chart.
I currently have opened a buy trade at 1.3302 with a stop loss at 1.3268. I a expecting the currency pair to touch about 1.3345 types..which is a profit of 40 pips.. So you can consider this trade as more of a day trading.
Thats all in this message..Visit again to learn more on currency trading.
This currency pair is at a very high point as per the daily charts..So, it is at a very strong resistance area. If it breaks that, then the trading charts will show the forex market zoom.
If the market is high on daily charts, one still has the chance to do forex day trading by being bullish since in that case you are looking for a profit of 20-25 pips per trade. However, the swing trading is slightly risky since the swing trading is mostly done using an hour chart.
I currently have opened a buy trade at 1.3302 with a stop loss at 1.3268. I a expecting the currency pair to touch about 1.3345 types..which is a profit of 40 pips.. So you can consider this trade as more of a day trading.
Thats all in this message..Visit again to learn more on currency trading.
Labels: currency trading, EUR/USD, Forex day trading system, forex pips, forex technical indicators, online forex trading
Tuesday, March 06, 2007
Forex Day Trading System - USD booms
Forex Day Trading System - USD booms!!
Anyone who is watching the currency trading charts must have realized that the USD is bullish the big time..And its bullish across the board with EUR, GBP, CHF, AUD, NZD everyone stumbling against Greenback retaliation..Except JPY!! Yes, Yen is giving bigtime pounding to the $$..
Thats because the JPY is too much driven by the fundamentals..Thats the primary reason I don't day trade USD/JPY currency anymore since I do trading by technical analysis using indicators such as EMA, RSI or MACD etc..
I entered the trade the other day NZD/USD, which I closed at 191 pips profit..In between I was in 230 pips profit, but I stayed in the trade till I got a valid exit signal..
Thats the important concept, enter the trade only when your trading system for day or swing trading mentions for forex market and exit only when the technical indicators ask you to do so..
Thats what the philosophy I applied and ended up with 191 pips profit..
Thats all in today's session..Please visit again to learn for on currency or also called trading the forex.
Anyone who is watching the currency trading charts must have realized that the USD is bullish the big time..And its bullish across the board with EUR, GBP, CHF, AUD, NZD everyone stumbling against Greenback retaliation..Except JPY!! Yes, Yen is giving bigtime pounding to the $$..
Thats because the JPY is too much driven by the fundamentals..Thats the primary reason I don't day trade USD/JPY currency anymore since I do trading by technical analysis using indicators such as EMA, RSI or MACD etc..
I entered the trade the other day NZD/USD, which I closed at 191 pips profit..In between I was in 230 pips profit, but I stayed in the trade till I got a valid exit signal..
Thats the important concept, enter the trade only when your trading system for day or swing trading mentions for forex market and exit only when the technical indicators ask you to do so..
Thats what the philosophy I applied and ended up with 191 pips profit..
Thats all in today's session..Please visit again to learn for on currency or also called trading the forex.
Labels: EMA, Entry, EUR/USD, exit, forex pips, forex technical indicators, MACD, nzd/usd, rsi, technical analysis, USD/JPY
Sunday, February 25, 2007
Forex day trading System - Catch a trend and ride on it
Forex day trading System - Catch a trend and ride on it
Off late you must have seen that EUR/USD is in tight range bound condition. When that happens and if you are more of a trend trader, then its not an ideal forex trading market for you.
Then should you stop trading? Or should you adapt to a differnt time zone?? You can do both.
You can stop trading till market is ready to explode or you can shift to a narrower time zone such as start day trading on 5 min or 15 min chart since forex market might be trending there..
Its all about adjusting to market if you are following market conditions for trading. Or, the other way is to mechanical trade.
Last week I bought a forex system through clickbank which some people are praising a lot..Its from Avi Frister and is called Forex Trading Machine. The system is more of mechanical trading with day trading as well as swing trading. I have applied the swing trading strategy and am finding it good..The day trading I have not applied yet.
Incase you are interested in that, this is the time to buy it since he is offering another strategy for free for trading Non farm Payrolls (NFP)..
I am planning to apply the NFP strategy in Mar-07's NFP fundament announcement declaration..
As you can expect, I'll share the results with you..:-)..Overall the product is good. I have tried swing trading strategy, but not the ones for day trading yet..
Incase you too are interested, you can visit - Forex Trading Machine
Just to tell you that the above link contains my affiliate id incase you don't mind me earning a commission.
Off late you must have seen that EUR/USD is in tight range bound condition. When that happens and if you are more of a trend trader, then its not an ideal forex trading market for you.
Then should you stop trading? Or should you adapt to a differnt time zone?? You can do both.
You can stop trading till market is ready to explode or you can shift to a narrower time zone such as start day trading on 5 min or 15 min chart since forex market might be trending there..
Its all about adjusting to market if you are following market conditions for trading. Or, the other way is to mechanical trade.
Last week I bought a forex system through clickbank which some people are praising a lot..Its from Avi Frister and is called Forex Trading Machine. The system is more of mechanical trading with day trading as well as swing trading. I have applied the swing trading strategy and am finding it good..The day trading I have not applied yet.
Incase you are interested in that, this is the time to buy it since he is offering another strategy for free for trading Non farm Payrolls (NFP)..
I am planning to apply the NFP strategy in Mar-07's NFP fundament announcement declaration..
As you can expect, I'll share the results with you..:-)..Overall the product is good. I have tried swing trading strategy, but not the ones for day trading yet..
Incase you too are interested, you can visit - Forex Trading Machine
Just to tell you that the above link contains my affiliate id incase you don't mind me earning a commission.
Labels: currency trading, EUR/USD, Forex day trading system, forex technical indicators, forex trading machine, swing trading
Sunday, February 18, 2007
Forex Day Trading System - Some reliable technical charting techniques
Forex Day Trading System - Some reliable technical charting techniques
On Friday, I placed a trade on EUR/USD using one of the very reliable techniques - The double top. This technique is dependent on resistance lines..So if the currency price is bouncing of a particular level again and again, it initiates a formation of a charting pattern called Double Top or Triple top if forex price bounced of that level thrice..
Double top and Double bottom for that matter are very popular in all the trading marets and can be used in all the chart times such as a day trading or swing trading or for any trading system. I have watched quite a few courses such as investools or optionetics on stocks/options and I found that all these definitely touch on double tops/bottoms..
As I mentioned you can apply these patterns on any market let it be commodity or stock and definitely forex..
Before placing that trade I confirmed using another indicator 100 EMA which started going downward. Currently I am about 25 pips in profit however for this fotrex trade the exit signal is not in place and since it a swing and not a day trading, I am still into this trade and on the basis if the system I follow, I'll exit only when the technical indicators will line up for exit. Tomorrow no primary fundamental news is coming, so I am expecting to hit about 90 pips as profit (on yhe basis of Fibonacci retracement level)
Thats all in todays post..Keep visiting again to learn more on currency trading.
On Friday, I placed a trade on EUR/USD using one of the very reliable techniques - The double top. This technique is dependent on resistance lines..So if the currency price is bouncing of a particular level again and again, it initiates a formation of a charting pattern called Double Top or Triple top if forex price bounced of that level thrice..
Double top and Double bottom for that matter are very popular in all the trading marets and can be used in all the chart times such as a day trading or swing trading or for any trading system. I have watched quite a few courses such as investools or optionetics on stocks/options and I found that all these definitely touch on double tops/bottoms..
As I mentioned you can apply these patterns on any market let it be commodity or stock and definitely forex..
Before placing that trade I confirmed using another indicator 100 EMA which started going downward. Currently I am about 25 pips in profit however for this fotrex trade the exit signal is not in place and since it a swing and not a day trading, I am still into this trade and on the basis if the system I follow, I'll exit only when the technical indicators will line up for exit. Tomorrow no primary fundamental news is coming, so I am expecting to hit about 90 pips as profit (on yhe basis of Fibonacci retracement level)
Thats all in todays post..Keep visiting again to learn more on currency trading.
Labels: currency trading, double bottom, double top, EMA, EUR/USD, Forex day trading system, forex pips, forex trading
Tuesday, February 13, 2007
Forex Day Trading system - An exciting trading setup
Forex Day Trading system - An exciting trading setup
In my last message I mentioned that the Major currency pairs were about to go $$ bulish on which one of the readers asked as to go long or short. To go long and short depends on the currency pair you are dealing with. If you are dealing on GBP/USD then go short or if you are dealing on USD/CHF, then go long.
The rationale behind this forex trade is to buy USD and sell the corresponding currency. That setup could have been used in day trading or even swing trading. The system I used was of MACD and RSI setup.
Today, when I look at EUR/USD, I am finding that the currency pair is making triple top at 1.3000 levels..So, I would suggest you to sell EUR/USD at 1.2980 and close the trade at 1.2870
and make handsome 100 pips..The parabolic sar is confirming this trade so are the RSI and MACD indicators now.
So, this is another good trade setup for day trading the EUR/USD currency pair.
Thats all in today's session..Visit again to learn more.
In my last message I mentioned that the Major currency pairs were about to go $$ bulish on which one of the readers asked as to go long or short. To go long and short depends on the currency pair you are dealing with. If you are dealing on GBP/USD then go short or if you are dealing on USD/CHF, then go long.
The rationale behind this forex trade is to buy USD and sell the corresponding currency. That setup could have been used in day trading or even swing trading. The system I used was of MACD and RSI setup.
Today, when I look at EUR/USD, I am finding that the currency pair is making triple top at 1.3000 levels..So, I would suggest you to sell EUR/USD at 1.2980 and close the trade at 1.2870
and make handsome 100 pips..The parabolic sar is confirming this trade so are the RSI and MACD indicators now.
So, this is another good trade setup for day trading the EUR/USD currency pair.
Thats all in today's session..Visit again to learn more.
Labels: currency trading, EUR/USD, Forex day trading system, MACD, swing trading
