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
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
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
