Wednesday, November 07, 2007
Forex Day Trading - Important Announcement!!
Forex Day Trading System- Important Announcement!!
I have an important announcement to make..Infact I need your help. As you know I told you in some of my previous posts that I am going to launch a new Forex Trading course. It is an ebook which contains great strategies. Not only are these strategies very effective, they are very easy to use as well.
This course is currently getting prepared. However before I can start selling it in the market, I need to make sure that it is in good and nice shape. It should have nice concept flow, nice diagrams, nice chart pictures, easy to understand language and so forth.
For that I might need some volunteers. Once my course is ready, I need some people who can review this course and can give me review comments which will help me improve this forex trading course before I start selling it out.
If you are interested, please feel free to let me know. You can enter your email and name in the box below so that I can contact you when the ebooks are ready.
Meanwhile let me tell you, that once you join my list, -
1. I'll send you an ebook on currency trading for which I have the complete rights. Not only is the content of the book great, it also has excellent presentation. I request you to read it. This will increase your knowledge as well as would help you understand on what lines should you review my day trading course.
2. There is GREAT advantage you'll have once you join my list which I cannot tell you on this blog. For that I'll send a separate mail to all those who will volunteer to join.
So go ahead and join enter your email id and name below if you would like to get hands on my course for free. Once again, here are the advantages you have -
1. Get free copy of my course before it is available in market. (Ofcourse you'll have to review it..:-))
2. Get free ebooks, video lessons (only for people on my list) on my new website. These ebooks/video lessons are really superb!!
3. A secret advantage..!!
So, if you are interested, then join now by entering your email id and name in the form given below.
Thats all in this message..Keep visiting to learn more on fx trading.
Labels: 5 EMA forex trading system, currency trading, forex day trading, forex trading ebook
Wednesday, July 04, 2007
Forex Day Trading : USD/CAD looking more and more bearish
Forex Day Trading : USD/CAD looking more and more bearish
As you know, the fundamentals have a lot of impact on how the currency pairs behave. One of the common fundamental indicators that drive the USD is the oil price. Yes, since the oil and gas is consumed very heavily in USA, it has direct impact on the American inflation and so on the bank rates.
However, the price of gas impacts the USD/CAD currency pair the most. This is because USA imports a lot of oil from canada. So, the costlier the oil prices, the stronger the CAD currency will become. Thats the reason, you might be seeing that USD/CAD is falling significantly.
At this time it looks to me that this currency pair is going to fall more, so after some retracement, I'll place sell forex trading order. I won't consider USD/CAD for forex day trading.
Day trading is mostly for major currency pairs such as EUR/USD, GBP/USD.
Thats all in this post..Keep visiting for updates on Forex Market and news.
As you know, the fundamentals have a lot of impact on how the currency pairs behave. One of the common fundamental indicators that drive the USD is the oil price. Yes, since the oil and gas is consumed very heavily in USA, it has direct impact on the American inflation and so on the bank rates.
However, the price of gas impacts the USD/CAD currency pair the most. This is because USA imports a lot of oil from canada. So, the costlier the oil prices, the stronger the CAD currency will become. Thats the reason, you might be seeing that USD/CAD is falling significantly.
At this time it looks to me that this currency pair is going to fall more, so after some retracement, I'll place sell forex trading order. I won't consider USD/CAD for forex day trading.
Day trading is mostly for major currency pairs such as EUR/USD, GBP/USD.
Thats all in this post..Keep visiting for updates on Forex Market and news.
Labels: currency trading, forex day trading, forex inflation, forex news, oil price, USD/CAD
Wednesday, June 13, 2007
A key point to fit in your forex trading style
A key point to fit in your forex trading system -
I was reading an ebook on Forex Trading the other day. It was full of trading strategies. Ofcourse not all strategies fit trading style of everyone. Some are for forex day trading and some for swing trading.
However there is one point that caught my attention on money management - "Never let a profitable situation end in a loss" This means that if your open currency trade is running in profit of lets say 25 pips, adjust its stop to breakeven so that if the currency pair turns its trend direction, it doesn't end in a losing proposition.
This is a very important & vital point. Never ever let your trade be like that at one point it was in +30 pips and next moment it hits your stop loss of 45 pips. Protect the profits by adjusting the stops.
Meanwhile speaking on strategies, Forex Trading Machine is a PDFT (Price Driven Forex Trading) technique. Many of you have asked if it is suitable for you. My answer is that it depends your trading style. It mentions 3 strategies whic are very innovative and are extremely successful.
Some of these are applicable as day trading and rest is swing trading. Since this ebook mentions system that use price rather than technical indicators, its definitely a must for all those who are not comfortable with the technical indicators.
Avi Frister has really put a lot of thought in coming up with this ebook. He has also cme up with some videos to help you understand the system. Its worth atleast visiting that website and check what all is contained in that forex trading ebook
Thats all in this message...Visit again to learn more on the exciting world of currency trading.
I was reading an ebook on Forex Trading the other day. It was full of trading strategies. Ofcourse not all strategies fit trading style of everyone. Some are for forex day trading and some for swing trading.
However there is one point that caught my attention on money management - "Never let a profitable situation end in a loss" This means that if your open currency trade is running in profit of lets say 25 pips, adjust its stop to breakeven so that if the currency pair turns its trend direction, it doesn't end in a losing proposition.
This is a very important & vital point. Never ever let your trade be like that at one point it was in +30 pips and next moment it hits your stop loss of 45 pips. Protect the profits by adjusting the stops.
Meanwhile speaking on strategies, Forex Trading Machine is a PDFT (Price Driven Forex Trading) technique. Many of you have asked if it is suitable for you. My answer is that it depends your trading style. It mentions 3 strategies whic are very innovative and are extremely successful.
Some of these are applicable as day trading and rest is swing trading. Since this ebook mentions system that use price rather than technical indicators, its definitely a must for all those who are not comfortable with the technical indicators.
Avi Frister has really put a lot of thought in coming up with this ebook. He has also cme up with some videos to help you understand the system. Its worth atleast visiting that website and check what all is contained in that forex trading ebook
Thats all in this message...Visit again to learn more on the exciting world of currency trading.
Labels: 5 EMA forex trading system, avi frister, currency trading, forex pips, forex trading ebook, forex trading machine, stop loss
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
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
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
Saturday, March 31, 2007
Forex Day Trading System : importance of correct forex charts
Forex Day Trading System : importance of correct forex charts to follow trade
I have observed that most of the traders and newbies generally tend to focus on the book to learn trading stratgies or systems and not focus on rest of the essentials. What they don't realize is that it doesn't matter if you have wheat in the house and not the utensils to cook it.
Same goes with forex trading. Along with having a sound forex day or swing trading system, you also need to have other necessaties lined up. One of such necassity is a good trading chart. Without the currency trading chart its as good as doing gambling. Your entry points, exit points may not be right, you will not know the trend and other points.
Here are the important points to consider when identifying a good forex chart -
1. It should update realtime.
2. It should allow yoputo fluctuate between different time periods such as a daily chart or 1 hr chart or 5 min chart etc.
3. It should allow you to put atleast some popular technical indicators such as EMA, RSI, MCD and Fibonacci. Others are parabolic sar, stochastics, candlesticks etc.
4. It should allow to follow charts of multiple currency pairs such as EUR/USD, USD/CHF or GBP/USD etc.
Thats all in this session of forex day trading..Visit again to learn more on the exciting world of currency trading.
I have observed that most of the traders and newbies generally tend to focus on the book to learn trading stratgies or systems and not focus on rest of the essentials. What they don't realize is that it doesn't matter if you have wheat in the house and not the utensils to cook it.
Same goes with forex trading. Along with having a sound forex day or swing trading system, you also need to have other necessaties lined up. One of such necassity is a good trading chart. Without the currency trading chart its as good as doing gambling. Your entry points, exit points may not be right, you will not know the trend and other points.
Here are the important points to consider when identifying a good forex chart -
1. It should update realtime.
2. It should allow yoputo fluctuate between different time periods such as a daily chart or 1 hr chart or 5 min chart etc.
3. It should allow you to put atleast some popular technical indicators such as EMA, RSI, MCD and Fibonacci. Others are parabolic sar, stochastics, candlesticks etc.
4. It should allow to follow charts of multiple currency pairs such as EUR/USD, USD/CHF or GBP/USD etc.
Thats all in this session of forex day trading..Visit again to learn more on the exciting world of currency trading.
Labels: currency trading, EMA, Entry, exit, forex chart, Forex day trading system, forex pips, rsi, technical analysis
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
Thursday, March 08, 2007
Forex Day Trading System - The most volatile time of the month is NFP (Non Farm Payroll)
Forex Day Trading System - The most volatile time of the month
Tomorrow is the most volatile time in a month of the currency trading market..Yes its Non Farm Payroll time.. I like the way the forex pairs jumps during this announcement..The candlesticks size is big, the technical indicators such as RSI, EMA or MACD etc don't make sense and all the analysis goes for a toss..
Its really exciting..I generally do not trade this fundamental news announcement..However, I bought Avi frister course of Forex Trading Machine sometime back..The course comes with a strategy on how to trade the NFP news..I am going to apply this strategy on my demo account to check how is the strategy working..My target will be just 25 pips..no more..no lesss.
As always, I'll share the results with you..
Meanwhile, some of you who hava asked how has been the results of the cash cow strategy of this course..Here are the details -
1. Trade 1 - 100 pip profit..
2. trade 2 - I customized the strategy a bit to apply under certain different rules..I ended up with 60 pip profit on my demo account..
Although I made a big profit by trading NZD/USD..it was 191 pips..
As far as the Forex Trading Machine system goes, its too early for me to say how reliable is it though I had too profitable trades, but I would like to make few more trades using the strategies mentioned in that.
Thats all in today's post..Incase you have bought the forex trading machine course yourself, do share with me your results if you have done the day trading of the NFP news.
Visit again to learn more on currency trading.
Tomorrow is the most volatile time in a month of the currency trading market..Yes its Non Farm Payroll time.. I like the way the forex pairs jumps during this announcement..The candlesticks size is big, the technical indicators such as RSI, EMA or MACD etc don't make sense and all the analysis goes for a toss..
Its really exciting..I generally do not trade this fundamental news announcement..However, I bought Avi frister course of Forex Trading Machine sometime back..The course comes with a strategy on how to trade the NFP news..I am going to apply this strategy on my demo account to check how is the strategy working..My target will be just 25 pips..no more..no lesss.
As always, I'll share the results with you..
Meanwhile, some of you who hava asked how has been the results of the cash cow strategy of this course..Here are the details -
1. Trade 1 - 100 pip profit..
2. trade 2 - I customized the strategy a bit to apply under certain different rules..I ended up with 60 pip profit on my demo account..
Although I made a big profit by trading NZD/USD..it was 191 pips..
As far as the Forex Trading Machine system goes, its too early for me to say how reliable is it though I had too profitable trades, but I would like to make few more trades using the strategies mentioned in that.
Thats all in today's post..Incase you have bought the forex trading machine course yourself, do share with me your results if you have done the day trading of the NFP news.
Visit again to learn more on currency trading.
Labels: currency trading, Forex day trading system, forex technical indicators, forex trading machine, nzd/usd, rsi, technical analysis
Thursday, March 01, 2007
Forex Day Trading System - NZD/USD broke out
Forex Day Trading System - NZD/USD broke out
Thats what trading currency is all about. A currency pair that is range trading or moving very slow is bound to break free from the shakles of support and resistance and then starts trending strongly..
Its more like a runner who keeps running and reduces pace to catch some breeathe only to start running once again.
I was watching NZD/USD for last 5 days and was anticipating that this currency pair is very good for day trading or swing trading forex under any system..When it broke, Immediately jumped on it and am currently 75 pips in profit..
At this time, the indicators don't matter such as RSI or MACD and in many cases even EMA..what I generally do is identify a support and resistance level to see where the forex pair will bounce from..
Thats all in today's session..keep visiting to learn more in trading the popular market of forex.
Thats what trading currency is all about. A currency pair that is range trading or moving very slow is bound to break free from the shakles of support and resistance and then starts trending strongly..
Its more like a runner who keeps running and reduces pace to catch some breeathe only to start running once again.
I was watching NZD/USD for last 5 days and was anticipating that this currency pair is very good for day trading or swing trading forex under any system..When it broke, Immediately jumped on it and am currently 75 pips in profit..
At this time, the indicators don't matter such as RSI or MACD and in many cases even EMA..what I generally do is identify a support and resistance level to see where the forex pair will bounce from..
Thats all in today's session..keep visiting to learn more in trading the popular market of forex.
Labels: currency trading, Forex day trading system, forex technical indicators, nzd/usd, range trading, swing trading
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
