A Winning Approach to Actually Trading Within the Stock Market - forex trading candlestick charts

A Winning Approach to Actually Trading Within the Stock Market ~ forex trading candlestick charts

Several traders lose merely from ignorance. They will base their trades on hunches, news, or tips from friends, and dont define specific risk and profit objectives before inserting trades. Pothers have the merit of educating themselves other then fall victims with the emotions. They will hold on to actually losing positions hoping they will can become winners and sell winners by concern of losing atiny low gain. They will overtrade to actually fulfill a requirement for action or by concern of missing out.

The consistent winners follow a winning approach:

• They have a strategy to enter and exit trades
• They use good money management
• They take consistent actions, they follow a trading plan
• They keep good records so they can review their actions
• They avoid overtrading
• They have a winning attitude

A strategy to enter and exit trades
You need to a strategy to put the odds in your favor for each trade you take. Your strategy should be as objective as possible and include the following elements:

• Entry: conditions required before you can enter a trade - may include technical analysis, fundamental analysis, or both.

• Initial stop loss: price at which you will close the entire position if it does not go in your favor. The risk per share is the difference between the entry price and the initial stop.

• Initial price objective: price at which you will take some or all profits if the trade goes in your favor.

• Trade management: set of rules that dictates your actions while a trade is opened. It may include trailing stops, closing position, etc…

For every action you take, the reason should be clearly described in your strategy. 

Money management rules to keep losses small
The goal of money management is to ensure your survival by avoiding risks that could take you out of business. Your money management rules should include the following:

• Maximum amount at risk for each trade. The different between your entry price and your initial stop loss is your risk per share. Your maximum amount at risk for each trade determines the share size.

• Maximum amount at risk for all your opened positions.

• Maximum daily and weekly amount lost before you stop trading – avoid trying to trade your way out of a hole after a loosing streaks.

During your learning phase, your goal should be to survive, not to make money. Start with low limits and raise them as you become a consistent winner otherwise you will simply go broke faster. 

Good record keeping
Although the process of gaining experience cannot be rushed, it can be made much more efficient by keeping good records of your actions. Good records will allow you to:

• Review your actions at the end of each day to make sure you followed you strategy, not your emotions.

• Learn from your losses – they cost you money, make sure you get the education in return.

You should also keep a journal of your observations.

A trading plan to keep emotions out of your decisions
During trading hours, emotions will turn smart people into idiots. Therefore you have to avoid having to make decisions during those hours. This requires a detailed trading plan that includes your strategy and your money management rules.

For every action you take during trading hours, the reason should not be greed or fear. The reason should be because it is in the plan. With a good plan, your task becomes one of patience and discipline.

You have to follow the plan without exception. Any valid reason for an exception - for example, correcting an oversight - should become part of the plan. 

Overtrading

Sometimes the best thing to do is to do nothing. Not trading on those bad days is key to becoming a consistent winner – in some situations it is very tempting to overtrade:

• If you trade to fulfill a need for action, to relieve boredom
• If you can’t find the proper setup but can’t wait
• If you fear you are missing out on a great trade or on a great market
• If you want to make up for losses (revenge)
• If you trade to feel like you are working instead of sitting around. Trading involves a lot of work other than the actual buying and selling.

You should not trade under the following conditions  

• You are not following my trading plan
• You have reached your daily or weekly maximum loss
• You are sick or very tired
• You are very emotional (upset, pressured to make money, self-esteem destroyed)
• You are using new tools you are not completely familiar with
• You need time to work on your trading plan

A winning attitude
Losing traders look for a “sure thing”, hang on hope, and avoid accepting small losses. Their trading is based on emotions. You must treat trading as a probability game in which you don’t need to know what is going to happen next in order to make money. All you need to know is that the odds are in your favor before you put a trade. 

If you believe in your edge, which is you believe that the odds in your favor for each trade you enter, then you should have no expectation other than something will happen.

Your attitude will have a direct influence on your trading results:

• Take responsibility for all your actions – don’t blame the market or world events.

• Trade to trade well and for the love of trading, not to trade often and not for the money. The money will come as a result of trading well.

• Don’t be influenced by the opinions of others. Reach your own decisions and follow them.

• Never think that taking money from the market is easy and never assume that you know enough.

• Have no particular expectation when you place a trade because you know that anything can happen.

• Don’t try to guess the future – trading is a game of probabilities.

• Use your head and stay calm – don’t get excited or depressed.

• Handle trading as a serious intellectual pursuit.

• Don’t count how much money you have made or lost while you are in a trade - focus on trading well.

Trading Framework was designed to help you build those crucial elements into your trading.

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Using Divergences to Identify Market Reversals - forex trading charts pdf

Using Divergences to Identify Market Reversals ~ forex trading charts pdf

Using divergences correctly can help spot key market turns

Many traders and analyst use price-momentum divergence to identify trend reversals. For those of you who are not familiar with this term divergences may be defined as follows:

* Bullish divergence: When price lows are lower in a trend but momentum lows are higher

* Bearish divergence: When price highs are higher in a trend but momentum highs are lower

Basically what this is effectively saying is that momentum, that is the pace of the trend, slows then the underlying momentum indicator will not confirm the new price extremes by making new momentum extremes.

For example, it is easy to see from this chart that there has been a strong uptrend.

Below the price chart is a form of the Relative Strength Index (RSI)

Note how the RSI is showing a bearish divergence. As you can see price highs are still rising but the RSI peaks have begun to fall. This is a feature that often accompanies a stronger reversal in the trend.

Is this a confirmed reversal signal ?

Let’s see what happened next:

In fact the uptrend continued in spite of the divergence.

While this special version of RSI provides better divergence signals it is vital that price also confirms a reversal. This can be done using several methods.

Firstly, by considering the definition of an uptrend:

Price is making higher highs and higher lows.

To confirm price reversal then we should wait for it to decline below the last significant low. In the first chart price had declined very little and therefore the risk of price continuing its uptrend remains.

Secondly, by looking for break of a trend support:

In this case no break of the support line was seen until after the 2.1160 peak. This was also accompanied by a bearish divergence and therefore confirmed the reversal of the trend.

Note that after breach of the trend support how price later moves back to retest the line. This often provides excellent trade opportunities.

It is a common error that traders anticipate a trend reversal merely because there is sign of a divergence. However, this is not a 100% safe strategy. Unless there are other indications to confirm it is safer to wait for confirmation of the reversal.

Good luck

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STRATEGY VIDEOS IN ONE PLACE - forex trading ebooks

STRATEGY VIDEOS IN ONE PLACE ~ forex trading ebooks

My Friends, I am always honored to have you along. I am going to post some strategic videos here that you can book mark so that you can review them from time to time. Keep in mind that every market day is different. Your candlesticks are always telling a story. Look at the past story of the candles to help accurately interpret what your candles are telling you right now.

ALWAYS WAIT FOR PROPER TRADE SET-UPS. Great trading is mostly waiting to meet with great profit opportunity. No truly great trader is in the market all of the time. A truly great trader waits to pounce when she/he sees profit ripe on the horizon. However, I know some scalpers that make more than 200pips a day, but they wait for proper trade set-ups.

You have to choose the trading style that fits your personality, as there are many ways to successfully trade forex and no one has the monopoly on great trading. We have just found what works for us successfully. When you find good stuff, learn what you can, then tweak it to make it your own. Forex is a consistent building of knowledge.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE
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SAVE YOURSELF!!!!! - forex trading books beginners

SAVE YOURSELF!!!!! ~ forex trading books beginners

Last week we got a huge surprise in the market when the bank of Japan intervened to devalue the yen against other major pairs. Most traders were caught on the wrong side of the trade. Many took huge losses and some of them let their account be blown up.

Guys when bank volume starts to move price, You may not get a pullback to take a smaller hit. If You dont have volume on your platform, You can recognize bank action by price that moves one way almost continually without much retracement. Price will get to a resting plateau and rest before exploding again in the direction of the previous price action.

Many of us will sit at our screens, cursing, praying, begging, but the best thing to do is to save yourself, by cutting bad trades quickly. DONT DEPEND ON THE MERCY OF THE BANKS TO DO IT!!!!!! THEY ARE OUT TO EAT YOUR LUNCH ALWAYS ! THEY ARE YOUR ENEMY, AND THEY ARE RUTHLESS WITHOUT MERCY!!!!!

What happened last week was nothing more than a market shake out, it happens to traders about 3-4 times a year. The last big one in May 2010 saw a drop of up to 1000 pips in 24 hours.

What can You do to save yourself from this kind of adverse action.?????????????

#1. DONT LEAVE OPEN POSITIONS! Trade what You can see. When You are not in the market take your money out with You. That way You can save on all of those foul words to Your broker when he tries to explain the price slippage that caused price to go beyond Your stop loss.

#2. If You must leave trades opened, put in a physical stop losses..

#GRANDDADDY OF THEM ALL!!!!!!!!!

NEVER LET LOSSES RUN !!!!!!

NEVER LET LOSSES RUN !!!!!!

NEVER LET LOSSES RUN !!!!!!

CUT THE LEGS FROM UNDER THAT BEAST AS SOON AS POSSIBLE!!!!!!!!!!

Two things are essential if You are going to enjoy a very successful and lucrative trading career.

#1 Wait for a proper trade set-up

#2 Learn to save yourself. CUT BAD TRADES QUICKLY!!!!!! So what if it comes back in your favor, many times it will, but it only takes one good shakeout to leave your lifestyle in jeopardy.

Cut bad trades to leave the most capital possible for a more profitable trade set-up. THE MARKET IS VERY VERY GENEROUS, IT WILL ALWAYS GIVE YOU ANOTHER OPPORTUNITY TO MAKE SOME PAPER, BUT YOU HAVE TO CUT YOUR LOSSES QUICKLY SO THAT YOU HAVE THE MAXIMUM CAPITAL TO TAKE ADVANTAGE OF THE RIGHT OPPORTUNITY WHEN IT PRESENTS ITSELF!!!

The market is swim, float or sink. Dont let them sink You. SAVE YOURSELF!

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE

http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6

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FEAR - best forex trading books to read

FEAR ~ best forex trading books to read

How many times have you let the perfect trade pass you by? The trade that was screaming for you to take it, but fear kept you from pulling the trigger; then once you saw what a fat trade it turned out to be; you beat yourself up.

Most of us have heard that classic acronym for Fear:

F-False
E-Evidence
A-Appearing
R-Real

There are a million ways to be successful in this market, but most people defeat their own success with fear. Fear is that paralyzing emotion that happens when you feel certain that you should pull the trigger, but cant.

As a trader, Fear can be an almost constant companion.........
How do you tame this beast??? What can be done about this monster that creeps into your psyche and holds you hostage????????

If you find yourself victim to this dreadful enemy. Stop trading your real money and paper/demo trade for a while. Make note of every trade and write down what is working most of the time. When you miss it, write down what happened and what you can do to improve your odds. This will take the discipline that most people lack, but it can be a big help. Also feed yourself new messages about your ability to succeed in this market. Read about others who are doing it and how they are getting this done.

A solid education will also help tweak and perfect your skills. The Market is an arena that is always offering you an opportunity to sharpen your skills. Learn, Learn, Learn.

Practice pulling the trigger on trades that are showing you a clear advantage and practice letting them ride into glorious profit. "Remember the shorter your time frame, the shorter your profit run will be...........

You have got to talk to yourself about who you are, (ex: "I am a super forex trader, making more money in the market than I can spend.") Dont keep feeding that demon thats telling you this wont work for you. The one that keeps telling you when you take a hit, you cant do this, or GOD helps everyone else but you, or any of that other nonsense......

I would say that your mental ability to play this game is even more essential to your success than your education. You can not be afraid of good smart calculated risk if you are going to win at this game.

You are looking for trades that stack the odds in your favor. Trades that are showing you a clear advantage. Trades that are begging you to come and partake of the sweetness.

Every time you enter the market you take a risk, but you want to find the lowest risk entry trades. There will be times that despite your best efforts, you will still miss it. So what, cut the legs off of that monster, save your capital and thrive to trade another day. The market is very generous and will give you the opportunity to make your loss back and so much more. If you took a hit yesterday, so what; that no longer exists. Today is a new trading day filled with new trading opportunities.

When I take a hit, I just wait for another good entry and usually I will get all of the money back that I lost in the hit and then some. THE MARKET IS VERY GENEROUS AND WILL GIVE YOU MANY OPPORTUNITIES FOR PROFITS.

1. Exceptional Trading requires discipline, patience, education, good money management and the ability to pull the trigger on a good entry in spite of any present fear.

Demo trade, Demo trade, Demo trade, and fill your head with good positive things about your ability and who you are as a trader until you are consistently profitable and until you can pull the trigger on trades with confidence.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE

http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6
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Technical Indicators and EA on MQL5 Market in MT5 - online forex trading basics

Technical Indicators and EA on MQL5 Market in MT5 ~ online forex trading basics

I think, everyone engaged in FOREX trading knows MetaQuotes company and its FOREX trading terminal called MetaTrader. The fourth version of MetaTrader is the most popular nowadays but MetaTrader 5 is winning recognition at a rapid pace. In this review, we want to tell you about a very useful innovation implemented in MetaTrader 5 - MQL5 Market.

You can find a huge number of trading tools on the Internet, including various scripts, technical indicators and Expert Advisors.
Many of these products can be downloaded for free, while some of them are distributed on a paid basis. These are mostly different trading robots developed using MQL programming language. When buying such a product, traders often receive "a pig in a poke". They cannot test an Expert Advisor or indicator before buying it. When it turns out that a purchased trading robot is not so efficient, it is almost impossible to receive a refund.

MQL5 Market helps traders who prefer automated trading to avoid low-quality offers from trading robots developers. MQL5 Market is a special marketplace for buying and selling programs developed in MQL5. Now, any trader working with MetaTrader 5 can download, test and buy trading robots right in the terminal. Before paying for the purchased trading robot, you will be able to test it on historical data and demo account. All trading robots pass careful moderation on MQL5. If product parameters do not fit the description, such a product will not be available for download.

If you are a developer of trading robots, this service can offer you a high-quality marketplace for promoting your trading robots. You will not have any issues when receiving payments for your products, as MQL5 Market has its own payment system. MQL5 Market acts as an intermediary between developers and traders.

As we have already mentioned, MQL5 Market is available right in MetaTrader 5 terminal. To enter MQL5 Market, launch MetaTrader 5 terminal and move to Market tab of Toolbox window.

There you will find a wide variety of free and paid trading robots, indicators and utilities. Before purchasing a product, you should register on MQL5.com and enter the registration details of your account in the terminal.

Then, you need to deposit funds to your account. After that, you will be able to purchase any program easily. Before making a purchase, you can test the application and decide if it suits you or not. After buying the program, you will be able to download your copy and use it on three PCs.

Automated FOREX trading is actively gaining popularity among individual traders. MQL5 Market enables gathering together all FOREX trading applications and provides easy and transparent access to them. You no longer have to browse through a vast amount of web sites and risk your money buying Expert Advisors at unreliable web resources. MQL5 Market makes the purchase and use of Expert Advisors easy and affordable for each trader!

Use the store MQL5 Market now and here.

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7 Reasons To Start Trading On The Forex Currency Market - learn forex trading charts

7 Reasons To Start Trading On The Forex Currency Market ~ learn forex trading charts

If you have time or money, there are lots of ways to earn additional income like from active involvement in multi-level marketing, website development, property investment, residential construction security, etc. Trading in Forex (foreign exchange) is also another way of making that extra income.

In the Forex currency market, you have the flexibility of trading from any location (home, hotel, etc.) and at any time as long as you have a laptop and internet connection for your portable computer.

There are no specific requirements or experience necessary in this particular online income generating trading business. Just by attending a Forex training course should be adequate enough for you commence trading in Forex. Why trade in Forex?

Below are 7 reasons why people should trade in Forex:

1. Forex trading offers monetary leverage. Meaning that you can trade with a low capital outlay to control a large currency position. You can trade a standard of $100,000 currency lot by investing with a small capital of only $1000. However, some Forex brokerage firms permit even less that that by giving you up to 200 times the leverage. That is, with only $100 capital outlay you can control a 200,000 unit currency position.

2. Online Forex trading has low transaction charges even though if you have a mini account or trade in small volumes.

3. Forex market transparency is an advantage since there are no hidden figures. You get what you see and thus there is no unexpected surprise. Therefore, it enables you to manage your risk and you can execute your order within seconds if you want to stop further losses in a particular trade.

4. You can trade by buying or selling in the Forex market in either direction, i.e. when it is going up or down.

5. Flexible time is one of the advantages in Forex trading. The Forex market never shuts as it is an incessant electronic currency exchange taking place globally. Since it is worldwide, involving in diversity of currencies of various nations that float their currencies in the world Forex market, it operates 24 hours daily, allowing you to enter or exit a trade whenever you like. In this regards, you can trade whenever you have the free time and as long as there is an internet available anywhere.

6. As you accumulate your personal experience you can earn you extra income by profiting from this sort of online trading in foreign currency. If you trade smartly with the use of technical analyzing tools, you can profit from a trade by predicting the outcome of a trade based on observing the changing trend of a currency which normally repeatedly shows up in predictable cycles.

7. There is unlimited earning potential when you participate in Forex trading for it has a daily trading volume in excess of 1.5 trillion. That makes it the largest financial market worldwide when compared with the equity and futures markets of 50 billion and 30 billion respectively.

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Some Advice For Day Trading the Stock Market - forex trading charts.com

Some Advice For Day Trading the Stock Market ~ forex trading charts.com

Day trading the stock market involves the rapid buying and selling of stocks on a day-to-day basis.  This technique is used to secure quick profits from the constant changes in stock values, minute to minute, second to second.  It is rare that a day trader will remain in a trade over the course of a night into the next day.  These trades are entered and exited in a matter of minutes. 

The main question that most people ask when it comes to day trading is simple: ‘is it necessary to sit at a computer watching the markets ALL day long in order to be a successful day trader?’

The answer is no.  It’s not necessary to sit at a computer all day long.  There are a number of factors to consider, but generally the rule of day trading is to trade when everyone else is trading.  In other words, trade in the morning.

As with all financial investments, day trading is risky – in fact, it’s one of the riskiest forms of trading out there.  The stock prices rise or fall according to the behaviour of the market, which is entirely unpredictable.  Day traders buy and sell shares rapidly in the hopes of gaining profits within the minutes and seconds they own those particular stocks.  Simple to do in theory, harder to do in practice.

If you are constrained by a small amount of capital, you may not be able to buy large amounts of a stock, but buying only a small amount can add to the risk of a loss.  And, obviously, it is impossible to predict with certainty which stocks will result in profits and which in losses.  Even the best of traders must learn to accept both outcomes. 

It’s also important to know that in day trading, it is the number of shares rather than the value of shares that should be the focus.  If you day trade, you WILL face losses, but even for the more expensive stocks, the loss should be marginal, because prices do not usually fluctuate to an extreme degree over the course of just one day.

The day trading industry deals in a large variety of stocks and shares.  Here are just a few:

Growth-Buying Shares – shares made from profit, which continue to grow in value.  Eventually, these shares will begin to decline in price, and an experienced trader can usually predict the future of this type of share.

Small Caps – shares of companies which are on the rise and show no signs of stopping.  Although these shares are generally cheap, they are a very risky investment for day traders.  You’d be safer to go with large caps and/or mid-caps, which are much more secure and stable thanks to a premium.

Unloved Stocks – company stock that has not performed well in the past.  Traders buy these shares in the hopes of generating profits if and when the stock rises in value.  As with small caps, unloved stocks can be a risky choice for day traders.

These examples are NOT your only options when it comes to day trading stocks.  The best way to determine which type of stock is right for you is to invest some time for careful research, a knowledge of market patterns, a solid strategy, and a disciplined trading plan.

The key to successful day trading is to be prepared.  Know as much as possible about the industry before you begin actually trading. You need to learn to trade ONLY when the market gives the right signals, and ONLY when the volume of activity in the market supports a successful trading opportunity.

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Powerful chart tool and economic calendar - forex trading charts live

Powerful chart tool and economic calendar ~ forex trading charts live

Forex Calendar

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5 Advantages Of Long Term Trading - forex trading on daily charts

5 Advantages Of Long Term Trading ~ forex trading on daily charts

Both short term and long term trading can be effective trading strategies, however, long term trading has several significant advantages. These include the effect of compounding, the opportunity to earn from dividends, reduction of the impact of price fluctuations, the ability to make corrections in a more timely manner, less time spent monitoring stocks.

1. Compounding

Time can be investor’s best friend because it gives compounding time to work its magic. Compounding is the mathematical process where interest on your money in turn earns interest and is added to your principal.

2. Dividends

Holding a stock to take advantage of payouts from dividends is another way to increase the value of an investment. Some companies offer the ability to reinvest dividends with additional share purchases thereby increasing the overall value of your investment. Additionally, dividends are more a reflection of a company’s overall business strategy and success than volatile price fluctuations based on market emotions.

3. Reduction Of The Impact Of Price Fluctuations

In the long term investment the persons is less affected by short term volatility. The market tends to address all factors that keep changing in the short term. So a person involved in long term investment or trading will not be affected as much by short term instability due to factors such as liquidity, fancy of a particular sector or stock which may make the price of a stock over or undervalued. In the long term, good stocks which may have been affected due to some other factors (in the short term) will give better than average returns.

Long-term investors, particularly those who invest in a diversified portfolio, can ride out down markets without dramatically affecting his or her ability to reach their goals.

4. Making Corrections

It is highly likely that you could achieve a constant return over a long period. The reality is that there will be times when your investments earn less and other times when you make a lot of money in short term. There may also be times when you lose money in short term but as you are in quality stocks and have long perspective of investment you will earn good returns over a period of time.

There are always times when some stocks do not perform and it is the wise choice to pull out of an investment. With a long term perspective based on quality stocks, it is easier to make decisions to change in a more timely manner without the urgency that accompanies short term and day trading strategies chasing volatile changes.

5. Less Time Spent Monitoring Stocks

Unlike day trading that can require constant monitoring of stocks throughout the day to capitalize on intraday volatility, long term trading can be carried out effectively using a weekly monitoring system. This approach is most often far less stressful than watching prices constantly on a daily basis.

Overall, investors that begin early and stay in the market have a much better chance of riding out the bad times and capitalizing on the periods when the market is rising.

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YOUR MARKET OPPONENT - forex trading education books

YOUR MARKET OPPONENT ~ forex trading education books

Most traders are under the illusion that their greatest opponent in the market are the skilled pros out there who are waiting to gobble them up. While they are worthy opponents, there is an opponent even more worthy, if you go to the mirror, you will find them. The biggest enemy to trading successfully is YOU and your mindset.

The thing that usually demolishes traders besides getting into the game way too early (while they are still very, very green) is their lack of discipline and patience. The hardest thing in the market, especially if you are a natural Type A personality, is the waiting.

The natural type A makes the perfect forex victim, because we like to see things move and like to get things accomplished. While this is a very desirable trait in most other aspects of life, it can be to your determent in forex.



It is the incredible volatility and fast pace of forex that attracts us in the first place, but when the market is stagnant, it can make us nuts, often causing us to make premature ill-timed entries.

That is why it is essential to your long term success for you to perfect your WAIT!!!!!

What are you waiting???
For proper trade set-ups!

Trades in harmony with your trend will usually be the most profitable and give the most reliable signals.

LEARN YOUR CANDLESTICK PATTERNS!
LEARN YOUR TRENDS!!!
LEARN YOUR SUPPORT/RESISTANCE!!!!!
LEARN ABOUT MARKET RHYTHM!!!
LEARN MARKET PSYCHOLOGY!!!!!

AFTER LEARNING ALL OF THAT.

YOU MUST PERFECT THE ART OF WAITING !!!!!!!! (^_^)


YOU CAN DO THIS (^_^)


Get 10 Trading Lessons FREE
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Gbp usd Open market Strategy - forex trading training scams

Gbp usd Open market Strategy ~ forex trading training scams

There is a strategy that take profit by the open of london market at 8.00 Gmt
Ive found it in another forum and works in this way:

Trading Rules:Time frame H1 Gbp/Usd chart

1- Open your chart on 08:00 AM (GMT).

2- Find the Maximum Price and Minimum Price between 21:00 PM (GMT) to 08:00 AM (GMT).
(For example If your broker time is GMT+2, so you should find the maximum and minimum price between 23:00 PM to 10:00 AM on your chart.)

3- You have 2 numbers. Maximum Price & Minimim Price. Now should open 2 pending orders:

Buy Stop:
At: (Maximum Price + 2 pips)
T/P: (Maximum Price + (Maximum Price - Minimum Price))
S/L: (Minimum Price - 2 pips)
Expiratory: Next trading day at 08:00 AM (GMT)

Sell Stop:
At (Minimum Price - 2 pips)
T/P (Minimum Price - (Maximum Price - Minimum Price))
S/L (Maximum Price + 2 pips)
Expiratory: Next trading day at 08:00 AM (GMT)

4- Now you can even turn off your computer and sleep. If any of above pending orders activated, let it touch T/P or S/L it self. It may takes some hours or even some days. Please never close it manually.

Inactive pending orders will expire next trading day at 08:00 AM (GMT). At this time you should go to the first stage and repeat this cycle for the next day.

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7 Tips For Choosing Forex Brokers - forex market maker chart indicator

7 Tips For Choosing Forex Brokers ~ forex market maker chart indicator

The more we live the more we find out that we are dependent on many things besides our wits. Smartness will only get us so far, but unless we make use of systems set up for our convenience we are apt to fail. This is so with the Forex market. The way how the market works means we have to work through a broker or a market maker to get our trades started and completed. You can find Forex brokers in every part of the world just as you will find currencies traded in almost every corner of the globe. 

However, you should consider a few points when you go out shopping for the right broker to help you with your trades.

1.  Qualifications. Probably the most important thing of all is ensuring the Forex broker you use has the correct qualifications. Therefore, choose a broker registered with the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM). This means that you have legal protection against any abusive trading practices and scams that may arise.

2.  Is the broker regulated?  This means that when you sign up to use their services you will have protection and insurance against any internal fraud. Also, your funds will remain separate from the brokers operating funds.

3.  What business model does the broker use?  Some brokers are market makers while others are ECN brokers, providing a dealing desks for many traders.

4.  Look at the types of spreads they offer.  The spread is the difference between the bid and ask prices of the currencies you trade. Brokers do not make a commission on your trade, instead they take the spread as compensation.  Your broker may also offer fixed or variable spreads, and they can be different for large accounts and miniaccounts.

5.  Slippage.  Can they provide you with details of just what slippage they would expect to occur during normal and fast moving markets?

6.  Margin requirements.  What is their margin requirement. That is,  what percentage of the investment in your trades do they expect you to pay to open a trade. You also want to know about their margin calls, and the time you need to respond to such calls.

7.  What is their Rollover Policy?  Do they have any minimum margin requirements which they use to earn interest on any overnight positions?  Plus, do they have any other requirements or conditions about you earning interest on any rollovers. 

Once you have done your research and have selected one or more Forex brokers, then it is time to set up your trading account. When your funds clear you can begin trading. Remember to read carefully the trading instructions to know  how the broker can help you manage your trades. If you overlook some relevant details, you can lose money on your first trade. So take the time to read the details and ask the brokers  or their support staff any questions you may have before you open your first trade.

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New NFA Regulation - download forex trading books in urdu

New NFA Regulation ~ download forex trading books in urdu

What do the new NFA Regulations mean for you?

For those of you who have not fully grasp what it means for you, it means that you will have to have more money to hold the same size positions that you have been holding.

If you have an open position with a 200:1 margin, that requires $500.00 to keep the position opened; when the new rule goes into effect, that same position will require you to have $1,000 to keep it opened.

If you dont have the required margin, your position will be liquidated by your broker, unless they have told you otherwise.

PLEASE CHECK all of your open positions to be sure that you are not in danger of being liquidated. If you are unsure, please call your broker to be sure that your open positions are going to stay safe. Thank you

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A Guide to Actually Foreign Currency Trading - best free forex trading charts

A Guide to Actually Foreign Currency Trading ~ best free forex trading charts

Whereas foreign currency trading offers its rewards, most especially when you can able out to trade in major currencies much like the us greenbacks and euro, caution against advertisements and brokers that provide instant riches ought to be observed. 

Theres go regulate foreign currency traders. Unfortunately, not all within the business are registered. Not entirely illegal, several unregistered brokers populate the monetary markets. Extra precaution is suggested for individuals and companies when they deal with forex brokers.

The United States has passed a federal law, the Commodity Futures Modernization Act of 2000 that gives authority to the commission to investigate suspicions of frauds in the transactions.

Frauds in Forex trading have telltale signs and you must be aware of these. Be wary of schemes that offer quick riches.  An experienced Forex brokers will tell you currency trading is not a risk free business and only those with real analytical methods can succeed in the field. And, even when projections seem sound, there is no way of telling exactly how strong a currency will hold out against many factors. So watch out for those who promise large profits no matter the economic condition is.

Most brokers ask for margin investments. If you are not fully aware of how this works, do not venture into it. You may be losing s more than you earn in the long run. Beware also of the “interbank market” service that brokers may offer. In reality, only large banks, corporations and investment institutions have access to this loose network of currency traders.

To be sure about the credibility of the brokers you are getting, study their profiles and company background seriously and extensively. Stick with a shortlist of firms that are registered with the regulatory commission on commodity futures.

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TAMING A HOSTILE MARKET - forex currency trading books

TAMING A HOSTILE MARKET ~ forex currency trading books

Every day you get up to face a hostile market where the odds are stacked against you.......

How do you Win in the face of such odds ??????????..........

You educate yourself, you practice, you practice and you practice more on your demo and never quit until all of the nonsense and backwardness of the market makes sense enough to where you are consistently profitable........

The Financial Markets are the Biggest most advanced Chess Game in the world, with some of the Richest and Savvy people on the planet as its players.

When you are first introduced to the financial markets what you see is all of the money you can make quickly, and all of the luxuries attached to conquest.........

What you dont see is the education and hours of dedication and study that the Pros put into making this look effortless. It is by no means effortless, but is put on like a very well rehearsed play and in many instance the Actor before you has gone broke many times, but just never gave up, or the smarter Actors got a good education from the ones who went broke first.

If you find a Pro who is willing to spill her/his guts, learn everything that person has to teach even when it is repetitive, because there is a reason that teacher is stressing that point. Trading is simple with the right tools, foundation and education. You can not build a Major Highway with a hammer and nails, YOU MUST have the right tools to accomplish this. If you get a Bull Dozier, some Dump Trucks, some engineered plans etc......., then your chance of success is much greater than it would be with a hammer, nails and an idea.

With the vision, YOU MUST possess the RIGHT TOOLS. What is absolutely essential for your success is constant education and your charts are the best, most accurate teachers and they will shower you with a wealth of information if only you spend time with them listening to their wisdom........

A good start to success in the market is to understand Price action; what price has done in the past, what it is doing now and where it may be headed. You can begin this journey by picking up Steve Nisons Candlestick book at your local library, master your trend line, master your knowledge of support and resistance. If after mastering these great market jewels, you feel that you need more, then you can then add additional tools with confidence........

The market is like a treasure hunt and the one who has the best map will possess the Treasure.......Education, Education and Education!!!!!!!!!!!!

Education is the Highway out of poverty, and a MASTER KEY to success!!!!!!!!


YOU CAN DO THIS (^_^)

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“How To” Start Trading The Forex Market Part 7 - forex renko charts fx trading system review

“How To” Start Trading The Forex Market Part 7 ~ forex renko charts fx trading system review

HOW DO Economic Events impact Global Currencies:

When I asked several traders about their thoughts about using fundamental analysis as a part of their trading decisions, I have received two opposite responses.

RESPONSE of Trader A

Fundamentals that you read about are typically useless as the market has already discounted the price. I am looking at (1) the long term trend, (2) the current chart pattern and (3) identifying a good entry point to buy or to sell.

RESPONSE of Trader B

I almost always trade on a market view. I dont trade simply on technical information alone. I use technical analysis and it is terrific, but I cant initiate or hold a position unless I understand why the market should move.

There is a great deal of hype attached to technical analysis by some technicians who claim that it predicts the future. 

Technical analysis tracks the past; it does not predict the future. You have to use your own intelligence to draw conclusions about what the past activity of some traders say about the future activity of other traders.

For me, technical analysis is like a thermometer. 

Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says hes not going to take a patients temperature. If you want to be a successful trader in the market, you always want to know where the market is- up – down- trending or choppy .You want to know everything you can about the market to give you an edge.

Technical analysis reflects the vote of the entire marketplace and, therefore, does pick up unusual behavior. By definition, anything that creates a new chart pattern is something unusual.

It is very important to study the details of price action to see and observe. Studying the charts is absolutely crucial and alerts to existing disequilibrium and potential changes.

For forex traders, the fundamentals are everything that makes a country tick.

The release of economic & inflation indicators (i.e., consumer spending, employment cost index, government spending, producer price index, etc.), political actors, government policy or an individual event can set the market in a frenzy. These have to be considered when making the decision “ to trade or not to trade.”

Technical analysis, is a way of using historical price data in different ways to predict the future price of a currency pair.

Fundamental analysis is a very effective way to forecast economic conditions, but not necessarily exact market prices, and you SHOULD trade in agreement with the supporting technical indicators.

Foreign exchange traders put the most emphasis on technical analysis, because traders around the world use similar charts and tools in predicting market trends.

The reason the FOREX market can be so predictable some times is that if the majority are using the same graph for determining patterns and trends, then it is highly likely that they will act in a similar manner.

So several thousand traders who have all charted the same resistance line, for example, will most likely either set their trades and direction conform to that line. 

When fundamental data is made available to the public there is a reaction from investors and speculators.

Information in the form of news and economic indicators is more vague than that of technical indicators. There is a lot of gray area in this type of analysis. The market will ultimately react to how people think the economic data compares to the current market situation. 

Economic indicators usually reveal information that "Should cause a currency to go up in price" or "May cause a currency to go down". The words “SHOULD” & “MAY” in the quotes above reveal the ambiguity of the fundamental data.

Here is an example of what analyzing fundamental data is like. Lets suppose there are six economic indicators (there are a lot more).

Lets call our six indicators 1, 2, 3, 4, 5, and 6. Now we wait for the data from our indicators to be published in a financial magazine or at an online source. We get the readings for our economic data for the EURO as following:

Indicator 1: is in a range where the Euro may go up

Indicator 2: is in a range where the Euro should go up

Indicator 3: is in a range where the Euro could go down

Indicator 4: is in a range where the Euro usually goes down

Indicator 5: is in a range where the Euro could go up

Indicator 6: is in a range where the Euro may go down

By looking at the above indicators, you dont know what the Euro is going to do. Furthermore, currencies are always traded in pairs. So you would have to get the fundamental data for another currency pair and compare it with the EURO. I think you can image that this is not a simple task.

I do not want to discourage you away from fundamental data. The best way to learn is to learn about one piece of economic data at a time. Eventually you will build a puzzle from all of the fundamental and technical data and make more informed trading decisions.

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Stabilize your current situation before investing - forex daily chart trading

Stabilize your current situation before investing ~ forex daily chart trading

Before you consider investing in any type of market, you should really take a long hard look at your current situation. Investing in the future is a good thing, but clearing bad - or potentially bad - situations in the present is more important.

Pull your credit report. You should do this once each year. It is important to know what is on your report, and to clear up any negative items on your credit report as soon as possible. If you’ve set aside $25,000 to invest, but you have $25,000 worth of bad credit, you are better off cleaning up the credit first!

Next, look at what you are paying out each month, and get rid of expenses that are not necessary. For instance, high interest credit cards are not necessary. Pay them off and get rid of them. If you have high interest outstanding loans, pay them off as well.

If nothing else, exchange the high interest credit card for one with lower interest and refinance high interest loans with loans that are lower interest. You may have to use some of your investment funds to take care of these matters, but in the long run, you will see that this is the wisest course of action.

Get yourself into good financial shape – and then enhance your financial situation with sound investments.

It doesn’t make sense to start investing funds if your bank balance is always running low or if you are struggling to pay your monthly bills. Your investment dollars will be better spent to rectify adverse financial issues that affect you each day.

While you are in the process of clearing up your present financial situation, make it a point to educate yourself about the various types of investments.

This way, when you are in a financially sound situation, you will be armed with the knowledge that you need to make equally sound investments in your future.

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RESISTANCE DROP - forex trading course book

RESISTANCE DROP ~ forex trading course book

Resistance is a powerful word, but in the market it can mean the end of a long climb up the latter of a successful bullish run. Points of resistance arent necessarily concrete, think of them more as a tightened rubber band that if you push into it to hard, it can send you plummeting very quickly.

Resistance is what it implies, a possible push against current price action. There are two correct responses you can have at a resistance, turn back (with a proper candlestick confirmation), or wait to see if the resistance is overcome, You never want to go head on into resistance because chances are you will get your butt handed to you. The other thing you dont want to do is automatically turn back without a little push. YOU DONT ALWAYS WANT OR HAVE TO BE IN THE MARKET. There are times when you need to be on the sidelines in observation mode; at a point near resistance is one of those times. Trying to break resistance is like trying to run over a locomotive on a bicycle. You cant do it!! Your best option at resistance is to rest to see either the strength or weakness of your price action. Whether price is successful at demolishing or chipping away resistance or does a turnabout, wait until it makes a concrete decision before following. NOTE: wherever price leads, follow until you get a signal that it is no longer safe to do so, or until you have had your fill of a nice fat profit.



Let other traders jump in front of the locomotive to slow it down; DONT YOU DO IT! Save yourself and wait until it is safe. Resistance points can either be safety zones put in place to help you protect your profits or the force and authority to crush you if you try to cross the line. When you come to a resistance point it means STOP!!!!, DO NOT PROCEED WITH CAUTION it is a RED LIGHT, when it is green, proceed with caution because there are times when price will break resistance only to fall back limp under the weight of the break through triumph.

This is not rocket science.

YES, YOU CAN DO THIS (^_^)

PRACTICE, DRILL, and REHEARSE ON YOUR DEMO!!!!!!!!!!!!
EDUCATION, EDUCATION, EDUCATION

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“How To” Start Trading The Forex Market Part 8 - renko charts forex trading system

“How To” Start Trading The Forex Market Part 8 ~ renko charts forex trading system

HOW TO predict the Future ? by studying the Past (Technical Analysis):

1) The best traders dont discount one or the other but understand that having an understanding how the fundamentals influence market sentiment gives him/ her an edge over those traders who dont.

2) In my opinion, TECHNICAL analysis is the easiest and most accurate way of trading the FOREX market.

3) "The numbers dont lie" - all available information and its impact on the market, are already reflected in a currencys price.

4) Prices move in trends - the foreign exchange market is mostly composed of trends and therefore a place where technical analysis can be very effective.

5) History repeats itself - over time, certain chart patterns become consistent, predictable and very reliable. The question is SEEING them.

PRICES MOVE IN TRENDS

The traders who dont believe this obviously have no need to implement a trading methodology on technical analysis. But, research has shown that those who trade "with the trend", greatly improve their changes of making a profitable trade.

Finding the prevailing trend will help you become aware of the overall market direction and offer you better visibility,especially when shorter-term movements tend to clutter the picture.

HOW does technical analysis help to determine what the trend is and HOW to trade with then trend versus against it?

Even though, you learn you how to use and read various technical indicators to identify a long- term trend, spot predictable chart patters and use certain rules to enter and exit a high-probability trade, and even though a ll this involves sound logic, parameters, methods, formulas, data, and research, these technical indicators, by themselves, are not the Holy Grail of FOREX trading.

It takes discipline and emotional control to stick with trading following through the inevitable market ups and downs. Keep in mind, good technical traders expect ups and downs.

Which technical indicators are the BEST?

NONE - technical indicators should simply be components of your overall customized, personalized trading system, and not a stand alone system.

The objectives as a FOREX Technical Trader are:

1) To figure out the price action of the currency pair. Price is the main concern. If the EUR/USD is at 1.2224 and goes to 1.2020, 1.1980, 1.1940- the market is in a down trend.

Despite what every technical indicator might predict, if the trend is down, stay with the trend. Indicators showing where price will go next or what it should be doing are useless.

A trader should only be concerned with what the market is doing, not what the market might do. The price tells you what the market is doing.

2) Always remember that technical indicators are only giving you confirmations based on what the market is telling you. So listen to the market and let it tell you which method, strategy or techniques you should use.

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