Sunday, September 30, 2007
Forex Day Trading System - Exciting Info!!
Forex Day Trading System - Exciting Info!!
There are quite a few exciting infos that I have to share.
First, my blog has reached 600 subscribers in the RSS feed list..Thanks to all of you for making it such a popular blog site..Keep visiting and I'll share lot of other useful information also on the world of forex trading.
Next exciting news is that I am in middle of creating a forex trading course which will be launched in next few weeks and guess what I am going to distribute it Free to about 50 people before I start selling it. Why? One reason is that this is a way for me to thank the loyal visitors of this site. The next is that their feedback will allow me to improve the curse before it full fledgedly gets launched in the market.
I'll put up an opt-in page very soon for you to register..As you know me I am against Spam!! So don't worry about your email ids..:-)
The next is about historic moment on USD/CAD!!!!! Yes, the balance has shifted to CAD. The canadian dollar has become more stronger than USD. As of today 1 USD is equal to 0.99 CAD
Though this is historic, it opens a whole lot of sell opportunities. If you look at the monthly charts, the USD/CAD currency pair has just now broken the strong support, so it is extremly bearish. So what hour time frame you trade, daily or hourly or even 15 min, look for good entry points!!
Also, do remember, this week the NFP (Non farm payroll) numbers are going to come out.
Thats all in this message..Keep visiting to learn on online forex trading
There are quite a few exciting infos that I have to share.
First, my blog has reached 600 subscribers in the RSS feed list..Thanks to all of you for making it such a popular blog site..Keep visiting and I'll share lot of other useful information also on the world of forex trading.
Next exciting news is that I am in middle of creating a forex trading course which will be launched in next few weeks and guess what I am going to distribute it Free to about 50 people before I start selling it. Why? One reason is that this is a way for me to thank the loyal visitors of this site. The next is that their feedback will allow me to improve the curse before it full fledgedly gets launched in the market.
I'll put up an opt-in page very soon for you to register..As you know me I am against Spam!! So don't worry about your email ids..:-)
The next is about historic moment on USD/CAD!!!!! Yes, the balance has shifted to CAD. The canadian dollar has become more stronger than USD. As of today 1 USD is equal to 0.99 CAD
Though this is historic, it opens a whole lot of sell opportunities. If you look at the monthly charts, the USD/CAD currency pair has just now broken the strong support, so it is extremly bearish. So what hour time frame you trade, daily or hourly or even 15 min, look for good entry points!!
Also, do remember, this week the NFP (Non farm payroll) numbers are going to come out.
Thats all in this message..Keep visiting to learn on online forex trading
Labels: forex chart, forex Entry, nfp, online forex trading, support and resistance, USD/CAD
Tuesday, September 04, 2007
Forex Day Trading system - The market trigger called NFP
Forex Day Trading system - The market trigger called NFP
Currently the forex market is range trading..Its not trending at all. Thats what happens when a fundamental announcement is about to come out. If the fundemental news is not big, the range bound movement may happen on the 15 min chart. However if the fundamental announcement is as big as NFP (Non farm payroll), then the range bound movemet can be seen on the hourly or even the day chart.
Thats wh the fundamental nnouncement is important. It can help in understanding why the market is trending or is range bound.
The NFP is one of the very highly observed fundamental announcements. The market moves more han 50+ pips in mere seconds. If you catch the wave correctly, you'll end up making faboulous profit. However, if the trade is not right, well, your account may see a reduction in balance.
I would not suggest you to trade the NFP announcement, UNLESS you have a solid system. Lot of people claimed to have a good NFP trdaing system, but their strategy was way too risky and was not good in terms of risk to reward.
If you have to use a system, I would recommend you to try out the one recommended by Avi Frister in his package of Forex Trading Machine. This ebook is very nice, easy to understand and yet easy to follow. Following that strategy, the amount of pips in profit are quite nice.
Now, I know you are tempted to buy it, but I would suggest you to try that out on a demo account 1st..Once you become comfortabe,you can apply the strategy on the real account.
However, if you do not have a system, I would strongly suggest you to stay away from the Nonfarm payrolls (NFP) announcements and not trade at all when this news is coming out.
Thats all in this sesion..Visit again to learn more on online forex day trading.
Currently the forex market is range trading..Its not trending at all. Thats what happens when a fundamental announcement is about to come out. If the fundemental news is not big, the range bound movement may happen on the 15 min chart. However if the fundamental announcement is as big as NFP (Non farm payroll), then the range bound movemet can be seen on the hourly or even the day chart.
Thats wh the fundamental nnouncement is important. It can help in understanding why the market is trending or is range bound.
The NFP is one of the very highly observed fundamental announcements. The market moves more han 50+ pips in mere seconds. If you catch the wave correctly, you'll end up making faboulous profit. However, if the trade is not right, well, your account may see a reduction in balance.
I would not suggest you to trade the NFP announcement, UNLESS you have a solid system. Lot of people claimed to have a good NFP trdaing system, but their strategy was way too risky and was not good in terms of risk to reward.
If you have to use a system, I would recommend you to try out the one recommended by Avi Frister in his package of Forex Trading Machine. This ebook is very nice, easy to understand and yet easy to follow. Following that strategy, the amount of pips in profit are quite nice.
Now, I know you are tempted to buy it, but I would suggest you to try that out on a demo account 1st..Once you become comfortabe,you can apply the strategy on the real account.
However, if you do not have a system, I would strongly suggest you to stay away from the Nonfarm payrolls (NFP) announcements and not trade at all when this news is coming out.
Thats all in this sesion..Visit again to learn more on online forex day trading.
Labels: avi frister, forex trading ebook, forex trading machine, fundamental announcement, fundamental news, nfp, non farm payroll
Wednesday, August 29, 2007
Forex day trading - Range of any currency
Forex day trading - Range of any currency pair.
After a currency pair has been in a trend for while, it stops for a while and starts range trading. This is applicable for all time frames be it daily, weekly, 15 min or 1 hr or even 5min. Once the currency pair has caught the breath, it starts trending again. The trend can be any direction, however the forex pair mostly goes as per the elliott wave.
The kick of a trend generally is caused by fundametal announcement/news such as NFP (Non farm payroll), FOMC, interest rate revisions etc etc.
However, the target of any rally or trend can be decided by the technical indicators such as the fibonacci leels or cros of MACD or can be even EMA.
Its very crucial to identify the entry and exit points when taking advantage of the trade. A good entry point can generate healthy profit of may be 100 pips hile a poorly timed entry can see your stop loss hit.
Thats why its always important to use a sound trading system for tradingin forex maket in any time frame. Thats why its always good to understand a proven trading strategy.
Some of you have aked me which fore trading system is good. In my previous posts, I have recomended the systems of Avi Frister and and by Adam Burgoyne.
Here is my suggestion -
1. If you are looking for a system that is purely mechanical in nature, which means that you can automate entry and exit, then go for Avi Frister's "Forex trading Machine" ebook. It is fantastic and is very concise and is very easy to understand and apply to the market.
2. If you are looking to understand a technical system by which you can decide on entry and exit points and can also understand how to read market, then use Adam Burgoyne's "5 EMAs forex trading system" ebook. Its very easy to understand and comes with a trading strategy which is simple to use and is excellent. Currently Adam is running some kind of promotion on this forex trading system. Feel free to check it out
Best of all, both of these courses ome with a mony back gaurantee..So, you are at no risk at all.
Please remember that just like entry, the exit points are also very important in the trade. You should not close your trade prematurely and also should keep your trade open under greed just to see that the profit you earned got reduced because the market turned in other direction.
Thats all in this message. Keep visiting to learn more.
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, entry and exit, forex pips, forex trading ebook, forex trading machine, nfp
Saturday, August 25, 2007
Forex day trading - How do you decide the stop loss?
Forex day trading - How do you decide the stop loss?
The importance of a stop loss when placing a trade, is very evident. One will not want the entire account balance to come to zero which can happen if stop loss is not in place.
But how do you decide a stop loss? Should it be anything?? Are there any factors that decide the stop loss?
There absolutely are the factors -
1. Foremost is how much can you risk? That amount should not only drive your stop loss, but it should also decide the time frame you should forex trade on.
2. The indicators you use. Ideally the stop loss should be the below the indicators you use to decide entry point. For example if you use 5 ema, then your stop loss can be few pips below that ema (exponential moving average)
3. The time frame you place your forex trades at. If you use 15 min chart, the stop loss should be at least 20 pips. If 1 hr chart, then atleast 40-45 pips.
4. Fundamental news or announcements. Always make sure that there are no fundamental announcements such as NFP (Non Farm Payroll) or FOMC etc are coming out. Since they can hit your stop loss in seconds if the news are against your direction of trade.
Thats all in this message...Keep visiting to learn more on online forex trading.
The importance of a stop loss when placing a trade, is very evident. One will not want the entire account balance to come to zero which can happen if stop loss is not in place.
But how do you decide a stop loss? Should it be anything?? Are there any factors that decide the stop loss?
There absolutely are the factors -
1. Foremost is how much can you risk? That amount should not only drive your stop loss, but it should also decide the time frame you should forex trade on.
2. The indicators you use. Ideally the stop loss should be the below the indicators you use to decide entry point. For example if you use 5 ema, then your stop loss can be few pips below that ema (exponential moving average)
3. The time frame you place your forex trades at. If you use 15 min chart, the stop loss should be at least 20 pips. If 1 hr chart, then atleast 40-45 pips.
4. Fundamental news or announcements. Always make sure that there are no fundamental announcements such as NFP (Non Farm Payroll) or FOMC etc are coming out. Since they can hit your stop loss in seconds if the news are against your direction of trade.
Thats all in this message...Keep visiting to learn more on online forex trading.
Labels: entry and exit, forex day trading, forex pips, forex technical indicators, fundamental announcement, nfp, stop loss
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
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, June 02, 2007
Famous and reliable resources to learn Forex Trading
Famous and reliable resources to learn Forex Trading -
Thanks for visiting my site again. As I was mentioning in my last post, this post is about relaible resources for learning currency trading. Without learning from the great resources if you start trading, let me tell you that it is as good as seeing money go down the drain.
So, choice of a good resource ( an ebook, or a video course, a paid mentore etc. or even a free website like mine..:-)) is the key to learn forex trading.
Here are my recommended resources -
1. Peter Bain's forex mentor - By far the best video based course. Contains a lots of DVDs and detailed explaination with example and conatins 6 month membership to his daily recommendations. Costs about $450 which I consider is equivalent of 45 pips on EUR/USD only..:-)
2. Avi Frister's Forex Trading Machine - As you know I recommend this ebook heavily. Excellent and very simple to understand. Great examples in the ebook. Besides, here is another thing I was told by him in one of his emails in last few days since I bought his Forex Trading Machine ebook - "He has created video lessons of what he teaches in the ebook". Also, Avi Frister is telling all the buyers about the strategy on high to make money during NFP announcement. The price is just $97 (equivalent to 10 pips..:-))
3. 5 EMA forex trading system - Another excellent ebook. Simple and yet very very effective. As you know that EMA are the straight forward technical indicators to use. This ebook explores its use in this system very effectively. Adam Burgoyne has truly created a fantastic product. Price for this ebook is again very low - $97 (10 pips..:-))
I won't recommend you to subscribe to any forex trading signal services..Whats the fun if you don't know what you are doing.
Mind you, you should buy the courses/ebooks explaining a strategy only when you have solid understanding of technical indicators..After that if you buy any of the recommended resources, they will make great sense to you.
Thats all in this post. Visit again to learn more on the world of forex trading.
Labels: 5 EMA forex trading system, Adam Burgoyne, avi frister, EMA, forex pips, forex trading ebook, forex trading machine, learn forex trading, nfp, peter bain
Friday, June 01, 2007
Top Sources to learn forex trading online
Top Sources to learn forex trading online
Sorry for posting after quite a while..I was working on something which I'll share with you within next few messages. Its kind of nice new thing.
People generally tend to ask me how should they learn about trading forex. This is a very common question. With so much information flowing on internet and significant amount of it being scan, its not difficult for someone to get overwhelmed. There are lots of ebooks that tell you about a secret strategy with which one can make loads of money immediately.
To be honest, I have not come across any strategy that will make loads immediately..However there are few ebooks on forex trading that are reliable and are written by good authors.
However before anyone starting directly on ebook on forex trading to learn some strategy, I would strongly recommend to understand the concepts of commonly used technical indicators (such EMA, MACD, RSI, Fibonacci, stochastics and parabolic SAR) and important fundamental announcements (Such as FOMC rate decision, NFP etc.).
There is no point of going through an ebook if one doesn't know the technical indicators and important fundamental news.
To learn these things, the recommended resources are -
1. My blog..:-).,Yes, I have posted quite a few articles on to learn forex trading and commonly used indicators.
2. Investopedia
After these things are learned, then one should find a reliable course or an ebook for that matter to understand a reliable strategy.
I'll go through the recommended resources in the next post..Keep visiting to learn more on Forex and currency trading.
Labels: forex technical indicators, fundamental news, learn forex trading, nfp
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
Sunday, April 08, 2007
Day trading the Forex: Zing is missing from the NFP announcements
Day trading the Forex: Zing is missing from the NFP announcements
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Labels: avi frister, currency trading, forex day trading, fundamental announcement, fundamental news, nfp, non farm payroll
Thursday, April 05, 2007
Forex Day Trading System - Its that time of month again
Forex Day Trading System - Its that time of month again
Yes, its Non farm Payroll time..or popularly known as nfp..The hottest news of monthly forex calender. As like last month, I am going to try few forex strategies that learnt from Avi Frister's popular ebook. Also, I am going to try some more startegies that I am trying to develop on my own.
For the last 2 months, I am finding that NFP is not mooving the market so much. Last 2 months, the average movement of EUR/USD is 80-90 pips, where as month prior to that it was 135 pips..
I am not sure, what is the reason for that. However, still I am going to try these strategies that I are a part of Forex Trading Machine ebook.
Also, for all of you who were asking about my trades using ebook written by Adam Burgoyne called 5 EMA forex trading system, let me tell you that it is a wonderful ebook, however, before you place the trade using it, read it very carefully. Because for the strategy to be effective, please make sure that you have not missed any details.
If you are going to place any trades for NFP tomorrow and you are not proficient in that, please try it on demo account.
Thats all in this session..
Yes, its Non farm Payroll time..or popularly known as nfp..The hottest news of monthly forex calender. As like last month, I am going to try few forex strategies that learnt from Avi Frister's popular ebook. Also, I am going to try some more startegies that I am trying to develop on my own.
For the last 2 months, I am finding that NFP is not mooving the market so much. Last 2 months, the average movement of EUR/USD is 80-90 pips, where as month prior to that it was 135 pips..
I am not sure, what is the reason for that. However, still I am going to try these strategies that I are a part of Forex Trading Machine ebook.
Also, for all of you who were asking about my trades using ebook written by Adam Burgoyne called 5 EMA forex trading system, let me tell you that it is a wonderful ebook, however, before you place the trade using it, read it very carefully. Because for the strategy to be effective, please make sure that you have not missed any details.
If you are going to place any trades for NFP tomorrow and you are not proficient in that, please try it on demo account.
Thats all in this session..
Labels: 5 EMAs Forex Trading System, Adam Burgoyne, avi frister, forex trading machine, fundamental announcement, nfp, non farm payroll
Sunday, March 11, 2007
Forex Day Trading system: My results for the last NFP announcement
Forex Day Trading system: My results for the last NFP announcement.
Few days back I mentioned in my post that I am going to trade Non Farm Payroll as a trial using Avi Frister 's system in Forex Trading Machine course..
Along with that I thought of trying another forex strategy that I came to my mind few days back..Its more of a hedging technique.
I cannot tell you the details about the strategy that "Forex trading machine" course tells or else Avi will sue me..:-)..However, I can share with you the results of my gains in the trades I placed -
I placed 3 forex trades on 3 currency pairs on my Demo Account -
a. Buy Trade on GBP/USD using Avi's forex day trading system for NFP fundamental announcement.
b. Long on EUR/USD on an entry price using my strategy
c. Long on USD/CHF on an entry price using my strategy
My target on trade b & c was 50 pips each and stop loss was 25 pips.
Here is what happenned -
a. Trade A went successfully and I acheived good amount of pips.
b. Trade b was loss of 25 pips
c. trade c was profit of 50 pips
In all, its still early to say about my startegy, however I can say that Forex trading machine is a nice course and contains good forex trading systems for day as well as swing trading..
I still would like to place few more trades using the cash cow startegy before I can say for certain..However, what ever trades I have placed have been profitable..
This week I am going to place trade on my mini trading account with real money using Avi's system..And, yes, I'll share the results with you.
For people looking for a book on startegy for currency trading, for now I'll recommend
Forex Trading Machine
Thats all in today's post on NFP which is more about my experience in this month's fundamental news.
Few days back I mentioned in my post that I am going to trade Non Farm Payroll as a trial using Avi Frister 's system in Forex Trading Machine course..
Along with that I thought of trying another forex strategy that I came to my mind few days back..Its more of a hedging technique.
I cannot tell you the details about the strategy that "Forex trading machine" course tells or else Avi will sue me..:-)..However, I can share with you the results of my gains in the trades I placed -
I placed 3 forex trades on 3 currency pairs on my Demo Account -
a. Buy Trade on GBP/USD using Avi's forex day trading system for NFP fundamental announcement.
b. Long on EUR/USD on an entry price using my strategy
c. Long on USD/CHF on an entry price using my strategy
My target on trade b & c was 50 pips each and stop loss was 25 pips.
Here is what happenned -
a. Trade A went successfully and I acheived good amount of pips.
b. Trade b was loss of 25 pips
c. trade c was profit of 50 pips
In all, its still early to say about my startegy, however I can say that Forex trading machine is a nice course and contains good forex trading systems for day as well as swing trading..
I still would like to place few more trades using the cash cow startegy before I can say for certain..However, what ever trades I have placed have been profitable..
This week I am going to place trade on my mini trading account with real money using Avi's system..And, yes, I'll share the results with you.
For people looking for a book on startegy for currency trading, for now I'll recommend
Forex Trading Machine
Thats all in today's post on NFP which is more about my experience in this month's fundamental news.
Labels: avi frister, forex day trading, Forex day trading system, forex pips, forex trading machine, fundamental announcement, nfp, non farm payroll, online forex trading
Saturday, March 10, 2007
Forex Day Trading System: the volatility when news break out
Forex Day Trading System: the volatility when news break out
People many times ask me why does the volitility increase significantly when a fundamental news announcement such as FOCM or NFP comes out?
It may seem to be simple question for some of you, but I must tell you that it is very important for those who don't know.
Volatility is driven by the number of people in the forex market to buy or sell a currency pair in day trading. So, when the news breakout, the banks or the traders realize what is the true value of the currency. So, lets say if US fed release a fundamental announcement that is favourable for USD, it would mean that people need to buy dollar and close all the positions which are not in short in dollar.
This will increase the volatility tremendously and the candlestick bars will get bigger and all the traders who do technical trading will jump in..In other words, the online forex trading market will become active..
Thants all in today's post..Like I said in many previous posts, Keep visiting to learn more in the day trading of the currency market..You can add this page to your favourites or can add subscribe to the RSS feed by adding the chicklets on your yahoo/google or technorati page..
People many times ask me why does the volitility increase significantly when a fundamental news announcement such as FOCM or NFP comes out?
It may seem to be simple question for some of you, but I must tell you that it is very important for those who don't know.
Volatility is driven by the number of people in the forex market to buy or sell a currency pair in day trading. So, when the news breakout, the banks or the traders realize what is the true value of the currency. So, lets say if US fed release a fundamental announcement that is favourable for USD, it would mean that people need to buy dollar and close all the positions which are not in short in dollar.
This will increase the volatility tremendously and the candlestick bars will get bigger and all the traders who do technical trading will jump in..In other words, the online forex trading market will become active..
Thants all in today's post..Like I said in many previous posts, Keep visiting to learn more in the day trading of the currency market..You can add this page to your favourites or can add subscribe to the RSS feed by adding the chicklets on your yahoo/google or technorati page..
Labels: Forex day trading system, forex technical indicators, fundamental announcement, fundamental news, nfp, non farm payroll, volatility
