Forex Signal Mentor - 200 Moving Average

Posted by on November 13, 2010 under forex trading | 7 Comments to Read A strategy used by a lot of Professional traders to spot trend reversals and good selling and buying opportunities with high probability!

Marketclub forex trading results

Posted by on November 12, 2010 under forex trading | Read the First Comment Marketclub trading results from July-Dec 2008. Usd and eur/usd

Forex: the base currency

Posted by on November 11, 2010 under forex trading | 14 Comments to Read

Learn what is the BASE CURRENCY on Forex

Moving average Forex Trading Strategy

Posted by on under forex trading | 3 Comments to Read

This strategy uses a 10 and 21 ema with a 60 period MVA. You can learn more about how to trade the Forex at

GBP/JPY Classical 11.10

Posted by on November 10, 2010 under forex trading | Be the First to Comment

GBP/JPY Classical 11.10
GBP/JPY: While the market still trades below the daily Ichimoku cloud to keep the downtrend intact, recent setbacks to fresh 2010 lows have been very well supported in the 126.00s to suggest that the cross could be looking to carve out a material base. For now, the key level to watch comes in by 132.70 which represents the top of the Ichimoku cloud. A close back above this level will officially …

Read more on Daily FX via Yahoo! Finance

Forex History

Posted by on under forex trading | 25 Comments to Read

Forex trading history at its finest.

Lesson 06 | Fractal Breakout Strategy | Free Forex Trading Lessons

Posted by on November 9, 2010 under forex trading | 3 Comments to Read Explanation how the fractal breakout strategy is programmed into the dashbaord

Forex Trading Rules In India - The Simple Beauty of the Trading Plan

Posted by on November 7, 2010 under forex trading | Be the First to Comment

Forex Trading Rules In India

The simplicity of the trading plan is absolute gold dust in trading. But many wannabe traders get the trading plan all wrong.

I have delivered a few presentations over the last few months and for those who have heard me speak know that the first question I usually ask the audience before I even start is: Forex Trading Rules In India

“Who here is interested in money?”

Almost everyone in the audience raises their hand and laughs as they think what a silly question it is. Of course, they realise that money is something that most people are interested in.

I then follow that question up with:

“And who here is making all the money they want to with their trading?”

Down go the hands …. the laughs turn into some mumblings … the smirks and smiles turn to blank faces.

I follow it up with one last question:

“Who here has a trading plan?”

A few hands are raised scattered across the room. Clearly there is something amiss.

Most people know that one of the keys to trading success is having a plan and then implementing that plan ruthlessly. Yet, it is obvious that most people don’t have a plan - why not?

They know about the idea and importance of cutting losses, following the trend, letting your profits run and others, yet fail to compile it all into a solid robust plan.

One of the biggest reasons that our mindset is such an influence on our trading success is because our emotions influence our actions. Our emotions have little place in our trading, however removing our emotions from our decision making is much easier said than done. It is our emotions that largely influence our actions and therefore coerce us to break the time tested trading rules that have worked for hundreds of years.

A solid step in the right direction to reducing the influence of your emotions is the compilation of a written trading plan. The three broad areas in your trading plan should be:

Mindset (or psychology) Money management, and Trading Method

Some questions that should be considered under those areas include:


Why are your trading goals - what do you expect to achieve in the next 6 months, 1 year, or 5 years (or any time period you set)? How you will overcome any fear or emotions when you trade? How you will eliminate any possible distractions from where you trade? What are you strengths and weaknesses and how will they influence your trading style? Forex Trading Rules In India

Money Management

How you will determine your position (trade) size? What is the maximum percentage of your trading capital you are prepared to commit to a single trade? What would you describe as an adverse move against you and what will you do should it happen to you? Second, under what other circumstances will you consider selling regardless of what exit points you set? How you will apportion your trading capital (float) for different strategies and financial products?

Trading Method

Will you trade ‘at market’ or ‘at limit’ and why? If you are going to use technical analysis, what items are of most interest to you? For example, are you interested in trends? If so, over what time frame and how are you going to identify them? Are you interested in reversals of short term or medium term trends? If so, how will you identify them and then what will you do once you identify them? How about technical indicators? Will you use any of them? How you will manage your watch list?

Writing your trading plan down will greatly assist you because it will force you to think different scenarios through and make you commit to it. It also forces you to formalise your approach rather than relying on emotions and hunches when an important decision is needed.

When you don’t have a plan, your trading decisions are largely based on hunches, instincts and emotions and when you base your decisions on emotions, the chances are you will not achieve long term success, because humans are naturally inclined to fail. Having the plan greatly reduces the influence that your emotions have on your trading and therefore makes you think more logically about doing the right thing.

In my opinion, having a written trading plan also provides you an edge over most market participants and in an arena where most people fail, how can you afford to not give yourself an edge?

In my time as an instructor mentoring and developing newly commissioned officers in the US Army, I was very critical when it came to the delivery of military orders. I always said that the quality of military orders could be measured with the number of questions asked by the recipients afterwards. When the question time was longer than the actual delivery of orders, there were clearly some fundamental flaws in the preparation of the orders. I think the quality of your trading plan can be measured the same way.

A good test for your trading plan is to hand it to someone else to read thoroughly and then see if they have any questions regarding it. If they can easily understand all the rules and the requirements of the system with very few questions, then you have compiled a sound trading plan - it may not make you money, but it is a start.

You should be able to hand it to someone else and have him or her know exactly how you trade. Your trading plan should be considered as valuable as any business plan or company manual which guides and governs your trading actions. Give yourself an edge in your trading. Develop your individual approach, follow the time tested trading rules and then document it all in your trading plan. Forex Trading Rules In India

Chart Forex Trading - Winning Strategy With Forex Trading Charts

Posted by on November 6, 2010 under forex trading | Be the First to Comment

Chart Forex Trading

Currency exchange on an online trading platform has revolutionized the FX market. With the advent of online trading, FX trading has become the most attractive home based business. These trading platforms facilitate the trader to easily interpret the changes in the market.

How is it possible to easily carry out the online trade? The answer lies in the variety of graphical representation or charts provided by these platforms. But prior to understanding these charts, it is equally essential for the trader to understand the two elemental aspects viz. Fundamental analysis and the Technical Aspects.

In case of Fundamental analysis, charts deployed are used as secondary reference as it scrutinizes political and economic indicators. On the other hand, prediction of price swings by analysis of historical price activity is termed as Technical Analysis.

Representation of relationship between price and time is given priority under Technical Analysis. These charts contain either two directional axis or three directional axis. One currency is represented through one axis, let’s say X-axis, whereas the other currency is represented through other axis, that is Y- axis. This helps the trader to easily interpret the value of one currency compared to another on the left hand side. Chart Forex Trading

The time and price scale are represented horizontally across the bottom of a chart and vertically along the right hand edge of the chart. The technical analyst rests upon the relationship between the time and price and to help the traders both the two are set in all caps.

Candlesticks and Candlewicks are the most favored Forex charts. It is easy to interpret and work on. These two come in different sizes. Price ranges determine the length of the chart and the length of the stick or wick. The top most level of the stick or wick represents the highest price for the respective currency while its bottom level represents the lowest price.

Charts are the graphical representation of the real-time changes happening in the currency market. It is very easy for the trader to check these charts on a time to time basis. The burden of prediction is eased up for those who rely on historical accuracy. Traders are more interested on selecting a trading platform which facilitates them to get updates on currency activity.

Charts are also used to carry out probability calculations, correlations and regression analysis between different types of indicators prevalent in the market. Chart Forex Trading

NZDUSD: Bullish Momentum Peaking?

Posted by on under forex trading | Be the First to Comment

NZDUSD: Bullish Momentum Peaking?
NZDUSD is pushing sharply higher through the top of a rising channel set from the swing bottom in May, with a close above this boundary exposing the major double top at 0.8137. However, early signs of negative RSI divergence hint that bullish momentum may have already peaked, with a top to be carved out in the coming weeks. I will remain on the sidelines for now but monitor prices closely for …

Read more on Daily FX via Yahoo! Finance