Monday, October 29, 2007
Forex Day Trading System - Where will the anti USD rally End?
Forex Day Trading System - Where will the anti USD rally End?
USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.
Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.
Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have to do is trade only in the direction of trend which means don't open the currency trade that is bullish on USD.
This effectively means that buy only when the currency pairs are retracing. So, when EUR/USD is retracing and hits a pivot point, then open the trade on confirmation. The pivot point can be a major support resistance level such as 38.2/50/61.8 fibonacci level, a major support line, 200 EMA, double bottom pint etc.
Currently it just looks USD bearish. So use your forex system and enter the trade..:-)
Thats all in this short message..Keep visiting to learn more on online forex trading.
USD is taking some serious pounding from all the majors where EUR, GBP, JPY and CHF are prominent.
Though this is good for export and helps to get more foreign exchange, in a way it will keep inflation high.
Now, the biggest question that comes is how can you take advantage of this rally? To make some gains in this rally, what you have to do is trade only in the direction of trend which means don't open the currency trade that is bullish on USD.
This effectively means that buy only when the currency pairs are retracing. So, when EUR/USD is retracing and hits a pivot point, then open the trade on confirmation. The pivot point can be a major support resistance level such as 38.2/50/61.8 fibonacci level, a major support line, 200 EMA, double bottom pint etc.
Currently it just looks USD bearish. So use your forex system and enter the trade..:-)
Thats all in this short message..Keep visiting to learn more on online forex trading.
Labels: EUR/USD, forex day trading, GBP/USD, pivot points, support and resistance
Monday, April 23, 2007
You asked on Peter Bain Pivot points forex course and I am answering it
You asked on Peter Bain Pivot points forex course and I am answering it -
Since the time I recommended Peter Bain's forex mentor trading course, few of you have come back to me with a common question - "Is it worth an investement?"
My answer will be "Yes!!! If and only if you like doing day trading." This essentially means that if you keep your trades open from few minutes to few hours and not overnight, then your style of placing trades is day trading and this course is for you.
Think about it - This course is I guess from $300 to $450. $300 is online version and $450 is DVD version. If you convert it into pips - Its 300 to 450 pips you are talking about if you have a mini forex account. Earning 20 pips a day will mean that you paid for the entire course in just one month.
Now consider this that you don't have a course or a system in place and you try making trades using hit and trial and end up spending months without making a dime and end up under loss.
Also, the advantage of the pivot point course that Peter is offerring is that he has included 6 month membership ..Wow!!!! Visit his site about forex mentor to find what you can do with the membership!!
So you ask me tomorrow or 1 week down the line or 10 days down the line with same question, I'll say that yes the Peter bain's course is worth an investment!!
Thats all in this session..Visit again to learn more on Forex day Trading.
Since the time I recommended Peter Bain's forex mentor trading course, few of you have come back to me with a common question - "Is it worth an investement?"
My answer will be "Yes!!! If and only if you like doing day trading." This essentially means that if you keep your trades open from few minutes to few hours and not overnight, then your style of placing trades is day trading and this course is for you.
Think about it - This course is I guess from $300 to $450. $300 is online version and $450 is DVD version. If you convert it into pips - Its 300 to 450 pips you are talking about if you have a mini forex account. Earning 20 pips a day will mean that you paid for the entire course in just one month.
Now consider this that you don't have a course or a system in place and you try making trades using hit and trial and end up spending months without making a dime and end up under loss.
Also, the advantage of the pivot point course that Peter is offerring is that he has included 6 month membership ..Wow!!!! Visit his site about forex mentor to find what you can do with the membership!!
So you ask me tomorrow or 1 week down the line or 10 days down the line with same question, I'll say that yes the Peter bain's course is worth an investment!!
Thats all in this session..Visit again to learn more on Forex day Trading.
Labels: forex day trading, forex pips, peter bain, pivot points
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
