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, 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
Tuesday, February 20, 2007
Forex Day Trading System - Confusion over technical indicators?
Forex Day Trading System - Not sure which indicators to use in the analysis?
Its quite natural..With so many indicators in place, sometimes its overwelhming on which indicators to use..
Remember, your technical indicators are to help you predict how the forex trading market will behave on the basis of how it has worked earlier..Somtimes it will work just as you predicted and sometimes the day trading market may not cooperate..
In genral, don't use the more than 3 indicators..Atleast I don't..The more the indicators, the more complex the analysis will be and moreover you might miss the entry and exit opportunities that may hit your pips..
Also, don't use 2 indicators of the same type..For e.g. using MACD and Stochastics may not be advisable. Instead use MACD with your favourite set of moving averages.
Also, some indicators with different values work better for different time frames. For. e.g a 10 EMA will be more popular as a system for a trade which more of forex day trading..while EME50 is more suitable for currency swing trading.
Thats all in today's session..keep visiting more to learn more on the currency market..
Meanwhile, I came across one blog on technical analysis..and its mostly on the forex market.
Forex day trading.
Its quite natural..With so many indicators in place, sometimes its overwelhming on which indicators to use..
Remember, your technical indicators are to help you predict how the forex trading market will behave on the basis of how it has worked earlier..Somtimes it will work just as you predicted and sometimes the day trading market may not cooperate..
In genral, don't use the more than 3 indicators..Atleast I don't..The more the indicators, the more complex the analysis will be and moreover you might miss the entry and exit opportunities that may hit your pips..
Also, don't use 2 indicators of the same type..For e.g. using MACD and Stochastics may not be advisable. Instead use MACD with your favourite set of moving averages.
Also, some indicators with different values work better for different time frames. For. e.g a 10 EMA will be more popular as a system for a trade which more of forex day trading..while EME50 is more suitable for currency swing trading.
Thats all in today's session..keep visiting more to learn more on the currency market..
Meanwhile, I came across one blog on technical analysis..and its mostly on the forex market.
Forex day trading.
Labels: EMA, Forex day trading system, forex technical indicators, forex trading, MACD, stochastics
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
