The Forex markets are known for their trends. Learn how you can catch these trends and profits are the result. The Forex markets trade over a trillion dollars everyday and traders in the know are making big money. Real Big Money! Everyday!
The nice thing is their actions are revealed in the market. If you know what to look for.
The Forex Trend Trader Will Show You ……..
How to Identify A Trend …….You will learn to recognize when the market is in a tending mode and when it is in a trading range. You want to take advantage of the trend when it moves to trend mode.
Low Risk Entry ……. The trend is like a lottery, you want as many chances at it as you can get. Trading is not perfect. Lowering your risk gives you more opportunities if the first one fails. Once on board a good trend it will return many times your risk amount.
Trade Up or Down Markets …… It doesn’t matter which way the market is trending you just catch the trend and go with it. Unlike stocks in the Forex markets you can reverse the order. Sell first then buy later to close out your position. So you make money no matter which way the market trends.
How to Spot Trend Changes …… Your most profitable opportunities come from recognizing a trend change early. You will learn the 3 Simple Steps to spotting a trend change.
How to Spot Setups during a Trend ……. With 24-hour markets you wont catch every trend change. That would take monitoring the market 24 hours. But that doesn’t mean you have to miss the trend. Currency trends can go on for days, weeks, months and even years. There are many opportunities to get on a trend once it has started.
Trade when you want ……. The forex markets are open 24 hrs a day. You can trade when it is convenient to you. If you live in the EST zone the market opens early Sunday evening and goes nonstop till late Friday afternoon. You set your own hours and trade from the comfort of your own home.
Costs you nothing to start …… Most Forex firms on the Internet allow you to open a demo account. This gives you free real-time charting and a trading platform where you can paper trade your own account. An account with "virtual" money so you can keep track how you are doing.
Monday, May 28, 2007
scalping the pips!
I really don’t like scalping but when I came across this method, I fell in love with it because it works most of the time.
Now open up your 5min chart. You can use any currency pair of your choice, but it works mostly on high volatile currency pairs like the GBP/USD, GBP/JPY etc.
Insert your 3EMA(Exponential Moving Average) and BINGO! you are about to discover when to enter the trades and when to exit. Actually, when to exit is really not the problem because since its scalping, i'll advice you aim for 3-5pips only.
When to enter: - Watch out for the body of the candle, when once you can locate a body of any candle that is outside the 3EMA line, then you know something is about to happen. Dont get confused. First locate a body of a candle outside (ie above or below) the 3EMA and then next you determine the trend of the chart. Usually you are also advised to follow the trend. When you see a revesal candle (e.g a hammer) outside the 3EMA then you get ready to open your trade in the opposite direction of the trend.
It's as simple as that! If you are not clear with this method, you could drop in your comment and specify what part of it you dont understand. I'm here to help and together we make more and more pips. Happy Trading. More methods to come alongside.
Now open up your 5min chart. You can use any currency pair of your choice, but it works mostly on high volatile currency pairs like the GBP/USD, GBP/JPY etc.
Insert your 3EMA(Exponential Moving Average) and BINGO! you are about to discover when to enter the trades and when to exit. Actually, when to exit is really not the problem because since its scalping, i'll advice you aim for 3-5pips only.
When to enter: - Watch out for the body of the candle, when once you can locate a body of any candle that is outside the 3EMA line, then you know something is about to happen. Dont get confused. First locate a body of a candle outside (ie above or below) the 3EMA and then next you determine the trend of the chart. Usually you are also advised to follow the trend. When you see a revesal candle (e.g a hammer) outside the 3EMA then you get ready to open your trade in the opposite direction of the trend.
It's as simple as that! If you are not clear with this method, you could drop in your comment and specify what part of it you dont understand. I'm here to help and together we make more and more pips. Happy Trading. More methods to come alongside.
Sunday, May 27, 2007
trading the news
I’m sure quite a number of forex traders would agree with me when I say that the outrageous long candle sticks we see in charts (heading up or down) are mostly caused by news events. Trading the news needs a level of experience, practice and understanding like I earlier said in one of my previous post.
But guess what? I developed a method that works 75% of the time in trading the news if only you can be disciplined by adhering to each step strictly. How do I do this? It’s quite simple and I’ll try and explain it in its simplest terms
What to do:
1. Make sure you are in front of your desktop or laptop at least 10mins before a major news event is about to be released.
2. Read and understand the news you are currently expecting. When I say understand, I mean make sure you know if to go long or short based on the actual results that would be released at that time.
3. 5 minutes before the expected time, have your 1min & 5min charts opened, and keep them side by side so that you can view both at the same time.
4. Look closely at both charts immediately the time for the news is ripe. What are you looking for here? Very strong and immediate movements in the new candle formed.
Weather the movement is up or down, as long as there’s a very strong move (about 15pips move), then you know the news is worth some nice pips.
Note: You are not to enter a trade immediately you see the strong spike movement of price. Then now the question you’ll be asking is when do I enter?
Good! Go back to wherever you get your reliable news results from and check the actual result. The results should give you a clear idea if to go long or short. Then look closely at your 1min chart, wait for the close of the 2nd or 3rd candle (i.e. 2-3mins after the news) then enter your trade in the direction of apparent price direction.
Please note here also that price might as well decide to go in the opposite direction right after your enter the trade. Now in this situation, what I would do is to hedge. If you go back to your 5min chart and see that price is actually having an erratic dancing movement, you do either of these two things:
i) Leave your hedged trade with a stop loss of about 10-15pips.
ii) Or you could just as well stay out of the trade until price direction is confirmed. (recommended)
Some new or inexperienced news traders might have a problem determining if to go long or short based on the expected news results. Please don’t be discouraged, there’s hope. You can always check this site as often as possible (at the start of the day or during the trading day) as to know what to expect and possibly how many pips to aim for when the news comes out at my predicted values.
Usually, if price is quiet (i.e. movement of price is slow) 20-30mins before the news then the effect is expected to be strong and if not the opposite happens J
But guess what? I developed a method that works 75% of the time in trading the news if only you can be disciplined by adhering to each step strictly. How do I do this? It’s quite simple and I’ll try and explain it in its simplest terms
What to do:
1. Make sure you are in front of your desktop or laptop at least 10mins before a major news event is about to be released.
2. Read and understand the news you are currently expecting. When I say understand, I mean make sure you know if to go long or short based on the actual results that would be released at that time.
3. 5 minutes before the expected time, have your 1min & 5min charts opened, and keep them side by side so that you can view both at the same time.
4. Look closely at both charts immediately the time for the news is ripe. What are you looking for here? Very strong and immediate movements in the new candle formed.
Weather the movement is up or down, as long as there’s a very strong move (about 15pips move), then you know the news is worth some nice pips.
Note: You are not to enter a trade immediately you see the strong spike movement of price. Then now the question you’ll be asking is when do I enter?
Good! Go back to wherever you get your reliable news results from and check the actual result. The results should give you a clear idea if to go long or short. Then look closely at your 1min chart, wait for the close of the 2nd or 3rd candle (i.e. 2-3mins after the news) then enter your trade in the direction of apparent price direction.
Please note here also that price might as well decide to go in the opposite direction right after your enter the trade. Now in this situation, what I would do is to hedge. If you go back to your 5min chart and see that price is actually having an erratic dancing movement, you do either of these two things:
i) Leave your hedged trade with a stop loss of about 10-15pips.
ii) Or you could just as well stay out of the trade until price direction is confirmed. (recommended)
Some new or inexperienced news traders might have a problem determining if to go long or short based on the expected news results. Please don’t be discouraged, there’s hope. You can always check this site as often as possible (at the start of the day or during the trading day) as to know what to expect and possibly how many pips to aim for when the news comes out at my predicted values.
Usually, if price is quiet (i.e. movement of price is slow) 20-30mins before the news then the effect is expected to be strong and if not the opposite happens J