Forex Day Trading System - The EUR strength against USD in past few days

Forex Day Trading System - The EUR strength against USD in past few daysThe major talking points in past few days has been the breaking of 1.3000 level ofEUR/USD..The USD has shown significant weakness across the board..However, now the currency is retracing, thanks to some pro $$ fundamental announcements such as "Phily Fed" speech, pro NFP (Non Farm Payroll) news..However, the experts are...

Forex day Trading system - Another simple trading startegy

Forex day trading system - Trading using EMA and bollinger bandsMany a times when you are trading you,ll observe that market keeps moving in tight range..The candles on 5 min chart become smaller and smaller..If you draw bollinger bands on the chart, they will become tighter and tighter..This generally happens between 6 PM EST to 12 PM EST as the volatility is very low..One can take advantage...

Forex day Trading System - Observation from previous trade

Forex day Trading System - Continuation of previous message..In the last post I mentioned that how did I lost in a trade because of fundamental announcement. The announcement broke at 8:30 AM EST and I made the trade at 8:15 EST. The fundamental announcement moved against me and the trade hit stop loss in 5 min..Now, further to that trade I observed that the currency pair of EUR/USD kept falling...

Forex day Trading System - My trade yesterday

Forex day Trading System - My trade yesterday on EUR/USDLet me give you a summary of the trade I placed yesterday at 8:15 AM EST..Please note specifically the time. It was a swing trade which means that I placed the trade using 1 hr chart..My indicators were all lined up such as MACD, RSI, EMA (Exponential Moving Average)etc.. and Candlestick was bullish..So, here is what happenned - I placed ...

Forex Day Trading System - Tomorrow's FOMC Announcement

Forex Day Trading System - FOMC Fundamental Announcement due tomorrowIt was said that market had comparitively thin volatility today since FOMC fundamental announcement is due tomorrow. FOMC is Federal Open Market Committee and they take important decisions on Federal policy such as interest rate hike etc..So, any forex day trader trying to trade today would have made very little profi...

Forex Day Trading System - What happenned in last Non Farm Payroll (NFP) Announcement?

Forex Day Trading System - What happenned in last Non Farm Payroll (NFP) Announcement?Hello Everyone.. my this post is after quite a few days..2 weeks perhaps..I was busy with few things.Did anyone of you notice what happenned during last friday (8-Dec-06) Non Farm Payroll fundamental announcement? Infact it was a combination of the announcement and what happenned few hours after the...

Forex Day Trading System - Importance of candlesticks

Forex Day Trading System - How much is the importance of candlesticksCandlestick patterns are important and very important..When you look at a daily chart, the candlestick formations are very reliable..They point to hammer, hanging man, morning star, evening star and other formations very accurately..However, when the timeframe of a chart drops, so does the reliability of the candlestick patte...

Forex Day Trading System - Another System for 1 min. chart

Forex Day Trading System - Another System for 1 min. chartAs always I have said that for 1 min chart, the technical indicators are not very reliable.. However this system is more cool than others and the indicators this sytem uses is more reliable than others..Lets go through the system -As I have mentioned earlier that use this system for a profit targets of 5-7 pips after subtracting the pip...

Forex Day trading System - More rules to follow

Forex Day trading System - More rules to followLets continue going through some more rules -1. Don't use too many technical indicators - Since day trading happens using 5 min, 15 min or 30 min charts, most of the technical indicators keep conflictng with each other and you may keep missing the trade..So, use only 1 or 2 indicators at the most such as EMA (Exponential moving Average, support...

Forex Day Trading System - Rules to follow

Forex Day Trading System - Important Rules to keep in mindBefore we start going through another system, I think its important to learn the rules of the game. Thanks Charlie for asking this questionLets go through these points to keep in mind while day trading -1. Use the broker that offers you tightest of all spreads. On the majors (EUR/USD, USD/CHF, GBP/USD etc.) the spread offered by most of...

Forex day Trading System - Details on Parabolic Sar

Forex day Trading System - Details on Parabolic SarYesterday we looked at a system which uses Parabolic SAR..Another useful technical indicator...Generally the indicator is used to place stop..Your charts will calculate the parabolic SAR for you automatically..You need to place the stop on the other side of the parabolic SAR..Once the currency pair starts trending, calculate the parabolic sar....

Forex day Trading System - Do you need more strategies?

Forex day Trading System - Lets go through another strategyLets go through another system which is as expected simple and as expected very effective.. This system is based on parabolic SAR and exponential moving averages (EMA)..It can be applied on a 15 min. chart or it can work on a 1 hr. chart...However, let me tell you if you are tading 15 min. chart, don't trade this during news or...

Forex day Trading System - Continuing trading using 1 min chart

Forex day Trading System - Continuing trading using 1 min chartLets continue day trading using the 1 min chart..After the setup was made as mentioned in last post, lets go the entry and exit strategyEntry -You are going to enter the trade as soon as -3 EMA (Exponential Moving Average) crosses through the 18 Bollinger Bands Middle line.This will need to be confirmed by lining up of Relative...

Forex Day Trading System - Trade the 1 min. chart

Forex day Trading System - Trading the 1 min chart..No, its not a fundamental announcement trading such as NFP or trade deficit etc..Its using technical indicators such as EMA (Exponential Moving Average), Bollinger bands and MACD..You can replace MACD with RSI if you need..Mind you trading with 1 min chart is scalping and you can't capture very high moves..Also, its not very popular for day...

Forex Day Trading System - What is moving average?

Forex Day trading System - Learn what is a moving averageTo help understand moving averages, in a given series, a sample of consecutive candlesticks may be referred as a “time window.” If the candlesticks (e.g., closing prices) in a given chart (1 hr or 15 min. or any chart) were added together, and the sum divided by the number of candlesticks in the sample, an “average” gets calculated. So,...

Forex day Trading System - Continuation to this day trading strategy

Forex Day Trading System - Lets continue our discussionIn our last session we discussed on Pivot points and how they are important...We also went through R1, R2 and R3 (Resistance levels) and also on S1, S2 and S3 (support levels)..Also we looked at how to calculate these..However you don't have to this manually..On the net there are lots of pivot calculators that are available to calculate it...

Forex Day Trading System - Another popular trading system

Forex Day Trading System - Trade using pivot pointsBefore the trading is done, it is important that you know about pivot points. A pivot point is a point of support or resistance. Its a kind of mutually agreed point between traders.In a forex day trading system, the pivot point is calculated using the previous day's high, low and closing value. Generally traders use the pivots in association...

Forex Day Trading System - Answering a question

Forex Day Trading System - How much does a pip corresponds to!!??One of a visitor has asked me what is a pip and how much money does it mean. So Lets focus on that to learn forex trading onlineA pip is the last decimal place of a forex quote. The pip, is how a profit or loss is measured. For example if EUR/USD = 1.2506, it means that 1 EUR = 1.2506$. As each currency has its own value, it is...

Forex Day Trading System - Important points to be kept in mind when trading

Forex day Trading System - Focus on these points and learn forex trading online Forex day trading rules often revolve around techniques, technical indicators, and equity management. All these are of course important.As it is said that without proper equity management new traders take a lot of risk as compared to they can afford.Generally it is recommended that one should not risk more than 2% of...

Forex Day Trading System - Do you trade NFP (Non Farm Payroll)

Forex Day Trading System - Do you trade NFP (Non Farm Payroll)Quite a few traders trade Non Farm Payroll which is a very volatile fundamental announcement. As you know this news moves the forex market at least 100-150 pips in just a minute on most of the USD based currency pairs (Except AUD/USD and NZD/USD).So, most of the trades place the trades on both the sides of the overall forex currency...

Forex Day Trading System - A strong technique to day trade

Forex Day Trading System - A strong technique to day tradeIn continuation to last post in which few characterstics of day trading and a typical day trader..In this post, lets go through a simple, yet a very strong and popular forex day trading system.. -Quite a few day traders use the technique of support and resistance, which as I mentioned in my previous posts is nothing but the points from...

Forex Day Trading System

Online Forex Trading - Forex Day Trading SystemHello Everyone..Few days back I received a comment from Charles where he asked quite a few questions on Forex Day Trading as to who should do it..What are its limitation, best day trading system etc..That gave me thought on starting a series of messages that will give all the esteemed readers of this blog more insight on day trading since most of ...

Learn Online Forex Trading - Tomorrow's Forex Day trading on EUR/USD

Learn Online Forex Trading - Forex Day Trading tomorrow on EUR/USDHello Everyone..Most of the forex traders are day traders which means that they place trade for only for few hours. Generally they trade either during UK/London market ( 2 AM to 10 AM EST) hrs or during USA market hours (8 AM to 5 PM EST).For all the day traders - All of you who are watching the 1 hr EUR/USD chart, you can see t...

Learn Online Forex Trading - Non Farm Payroll (NFP)

Learn Online Forex Trading - Tomorrow's NFP (Non farm Payroll) declarationHello everyone..Tomorrow is NFP (Non Farm Payroll) declaration which as I explained earlier is one of the most volatile fundamental announcments..A typical NFP declaration moves all the USD based currency pair in the range of 90 to 150 pips in just a matter on 1 min.So, my suggestion will be to close all the trades by 7 AM...

Learn Online Forex Trading - Forex day Trading - What is it?

Learn Online Forex Trading - What is forex day trading?Hello Everyone..I am sure you might have run into terms such as forex day trading, swing trading etc..And at the same time, would have imagined what are these forex trading styles and what factors to consider when trading in these styles? This message is to educate more on these 2 trading styles -1. Forex day trading - forex day trading or...

Learn Online Forex Trading - My trade on GBP/USD..is it right?

Learn Online Forex Trading - My trade on GBP/USD..Is it correct?GBP/USD is one of the very volatile online forex trading trading pairs and eventually with a good momentum. It is the most traded currency pair and moves the most on a trading day.The GBP made a double top on 3-Sep-06 in a daily chart and since then start retracing.Now, lets look at the 1 hour chart and see the conditions -1. The...

Learn Online Forex Trading - Look at USD/CAD chart

Learn Online Forex Trading - Look at the USD/CAD chart..Remember, in one of the previous posts I mentioned the importance of support and resistance levels in online forex trading. Once thelevels are breken, the currency pair speeds in that direction.Look at the USD/CAD 1 hr chart..It is range bound for quite a while..No indications that it will start trending in the world of online forex tradi...

Learn Online Forex Trading - Another strong technical indicator

Learn online forex trading - The Bands of Bollinger are strongBollinger bands is one of the most widely used technical indicator that tells about market trend - it could be any market like forex or stock or commodity or anything.What is Bollinger Band -Bollinger bands were originated by John Bollinger, it consists of a centre line and 2 price lines - one above and one below the centre line. The...

Emotional Rescue

Did you know that 90% of all Forex traders lose money? Now I bet you are questioning my zeal for trading the spot Forex market! If you are just starting out trading this market this not a very good omen. How do you ensure that you become the 10% that succeed, especially if given the fact that so many traders are willing to part with their hard earned cash? There are many reasons for these abysmal...

Learn online forex trading - Which fundamental announce moves the market the most

Learn Online Forex Trading - These fundamental announcements move the market the mostHello everyone...I came across this very interesting and very useful article which lists which fundamental announcements moves the forex trading market the most and how many pips does it move.So, definitly it will tell you when is the market expected to be most volatile for online forex trading. I have added t...

Seriously

If you have been following my blog you know that I am a big proponent of setting up a compounding account as a wealth building strategy for those of you new to the Forex market. This compounding account is not to be touched until you can meet your financial need with only withdrawing 50% of your profit without changing your risk profile. You can have your “Mad Money” account to satisfy some of your...

Make Forex Education Your Top Priority

I have been doing a ton of reading this summer. This is not atypical for me. Reading is a way to continue my education and renew my focus on the task at hand. I have recently been exposed to several Forex training evaluation sites, as well attended some of those FREE Forex workshops you see on TV (some of them are still calling me!). It got me thinking… “What advice can I provide to all those...

Learn Online Forex Trading - Market is at key support and resistance areas

Learn Online Forex Trading - Trading market is at key support /resistance areasHello Everyone..So, the NFP ( Non Farm Payrolls ) , moved the forex trading market on average in the range of 100 to 110 pips. The observed the market at that time and saw its volatility...Wow it was fascinating. And like suspected, the trading orders were not getting filled by most forex trading stations. I tested...

Learn Online Forex Trading - Its Non Farm Payroll Time (NFP)

Learn Online Forex Trading - Non Farm Payroll (NFP) declaration tomorrowBefore I start mentioning about NFP, I need to share some good news with you -My site is ranking at top of google search engine for some forex trading terms for which 95000 sites are competing. I came to know about this and day before yesterday and it made me feel that yes, this site is worth something.I would like to thank...

Learn Online Forex Trading - My trade on USD/CHF

Learn online forex trading - My trade on USD/CHFIn my details of my previous message I mentioned about my open online forex trade on USD/CHF.Till that day I was in a profit of 80PIPS..Pretty handsome.. isn't it?? And the trade was still open. Lets look at the details again -Trade - LongEntry - 1.2451Stop - 1.2405Limit - 1.2575Risk/Reward - 1/2.5Here is what I did when I was in 50 PIPs profit -...

Learn Online Forex Trading - Its USD/CHF time

Learn Online Forex Trading - Details on my trade on USD/CHFUSD/CHF is one the very trending currency pair in the world on online forex trading. Thats why its a favourite currency pair of many traders for trading forex. This makes the currency pair even more strong to obey forex trading rules.Now, the details about the online forex trade that I made on this currency pair -Last start with the...

Run to the Light

Hello Forex Nation!!If you have not noticed my posts have been a little less frequent over the past several weeks. I take time in the summer to vacation and renew. I also enjoy going to trainings and seminars. Not all of these events tie directly back into trading currencies, but then again I also have other interest and passions.I was at one such seminar last week in Los Angeles. I was networking...

Learn online forex trading - its relative strength index

Learn online forex trading - Importance of relative strength index1st of all apologies for delay in posting this message as I was busy with some other work for past few days.This message will be on a very important indicator called - Relative Strength Index (RSI) RSI is an oscillator which tells about the current momentum. It compares the recent profits against...

Entries and Exits

Hello Forex Nation,Well, I just returned from some well earned rest & relaxation! It is always a good time to escape the heat of the desert during the summer months. One of the things I like to do during my down time is to catch up on my reading. One of the key points on the Roadmap to Forex Success (visit FX Trade Central for more details) is continuous education and one of my favorite ways...

Learn online forex trading - Importance of Non-Farm Payrolls (NFP)

Learn Online Forex Trading - The importance of Non-Farm Payrolls (NFP)What is Non Farm Payrolls -Non Farm payrolls is a monthly produced report that represents total number of paid employees/workers in USA. However it doesn't factor in government employees, employees of non profit institutes and Farm employees.Since this report is prepared by US Bureau of labour staistics, its authenticity is...

Where Do We Go From Here?

Well, US non-farm payroll numbers where released, the market reacted and now all the traders have retired for the weekend. For the record, US non-farm payroll (NFP) rose by 121,000 in June. A figure I was personally watching this morning, the revision from May (which I thought was low) was revised from 75,000 to 92,000. Also, average hourly earnings increased to 0.5% from 0.1%, which to me reflect...

July USD Outlook

Here is what I see as a possible July USD OutlookPossible end of tightening cycleNo Federal Reserve meeting – No interest rateQ2 GDP will likely drop below 3% vice 5.3% in Q1Wave 5 extension beginning EUR/USD and GBP/USDJuly could be a rough month for the U...

Forex and the Job

So you live in the western part of North America (I trade from Phoenix, Arizona) and you have discovered the power of trading the Forex market. Your passion runs so deep that almost instantly you are convinced that you want to do this full time. You get your requisite training and are ready to trade your live account. Just one problem … the job is keeps getting in the way!Those of us who live in...

Conquer the Crash

A Book Review“Conquer the Crash”By Robert R. Prechter Jr.If you have been trading the Forex market you will have no doubtlessly come across R.N. Elliott’s Wave theory. In this book Robert Prechter, President of Elliott Wave International, details a compelling economic theory using this wave analysis. Prechter walks us through a technical, social and fundamental analysis of past economic events in...

Learn online forex trade - A great trade by me on USD/CAD..Although...

Learn Online Forex Trading - I placed a great trade on USD/CAD..Although I ...Like I guessed in the last message, I was expecting the online forex trading market to wake up from the virtual sleep as FOMC rate decision was going to have significant impact on USD direction.Thats what happenned..The market moved by 100+ pips for each currency pair in which USD is involved. So, I made analysis of ...

FX Education & Training

I have been receiving an ever increasing amount of emails for those of you interested in having dialog about Forex trading strategies. Of course you can email me at info@fxtradecentral.com. I have several sites with a different emphasis within the Forex Education and Training umbrella.FX Trade CentralThis is my mother ship Forex Education and Training website. The focus on this site is to provide...

Learn online forex trading - Shhhhhhhhh the market is quiet..Why??

Learn Online Forex Trading - The market is unusually quiet....Yes, the forex trading market is unusually quiet for the past 2 days.. Why?? Lets go through the dynamics of the forex trading market..Phase 1 -The forex trading market's direction is driven by the fundamental news primarily. So, lets say that US federal bank says that its going to hike interest rate..This means that USD will get...

The Impact of News Events, Part 2

As we mentioned in Part 1, fundamental news tends to adjust the technicals and these adjustments translates into potential trading opportunities on the Forex market. Give these facts it is important we use both fundamental and technical analysis in our approach to trading currencies.Fundamentals tend to be very inconsistent. This is why most traders, including myself, focus on the technicals. Fundamentals...

The Impact of News Events, Part 1

News is the Fuel.The Forex market is driven largely by world financial market and news, both of the domestic and international variety. There are a host of players on the international FX stage including businesses, hedge funds, governments, banks, consumers and of course us traders!By now I am sure you are wondering why a self-proclaimed technical trader is blogging about the news? After all isn’t...

Find Your Forex Niche

It is important to find the Forex strategy right for you! When I began learning to trade the Forex market I was introduced to intraday trading using 5-minute charts. I gained an understanding of the nuances of market movements and the importance of technicals tools, such as Simple/Exponential Moving Averages and Fibonacci. These proved to be valuable lessons coming from the options world.OK, truth...

Learn online forex trading - The market stopped me

Learn online forex trading - The market stopped me..what did I do??Remember about my online forex trade on USD/CHF? If not, please read my last two articles.I was looking good towards my target of 1.2270..I was at a point in 63 pips profit.Then the market turned and turned big..To be honest I didn't see that coming..It could have wiped my entire profits. But I guess I was bit smart, so I didn't...

Chart Patterns

Now that we are in the summer doldrums, chart patterns take on a whole new significance!For a review bookmark this link!!http://www.stockcharts.com/education/index.htmlHappy Tradin...

Learn online forex trading - What happenned to my USD/CHF trade?

Learn Online Forex Trading - What happenned to my trade on USD/CHF?Yes, I'll come on to the details of the trade. But before that lets review the technical indicators I have discussed so far -1. Support and resistance levels - In Online forex trading support and resistance areas tell key areas from where the market direction generally reverses. The more number of times the market reverses from...

Learn Online Forex Trading - Why do I feel good?

Learn online Forex Trading - Why do "I feel good"?Because another forex trade of mine went right..:-)..If you read the end of my last post, I guessed that USD/CHF will hit 1.2410 and make a double top..Well it didn't exactly 1.2410. It went till 1.2430 and then is now bouncing from 38.2% fib level on the daily charts. So, in the online forex trading this is a very exciting time. If the 38.2 fib...

It is Better in Groups

Banks and Hedge Fund Managers do it! And you should too!!Too often I hear about the lonely trader who sits at their computer while the Forex market forces devour their capital. These are the same people who say currency trading is too risky and it doesn't work.So you have taken the classes and read the books. Most humans don't learn that way. We must also be shown how to do it. In our case we...

Learn Online Forex Trading - Whats the broker Commission?

Learn Online Forex Trading - What is the broker commission in forex trading?Welcome to another week in the world of forex trading..As you know the forex market opens on Sunday at 2 PM EST with opening of Aussie and Kiwi markets.Now many of you know that their are broker commissions associated with the trades you make in stocks or futures or commodity trading. The commissions vary between $7 to...

Learn online forex trading - What are the basics?

Learn online forex trading - What are the basics of forex trading?I guess I started sharing about forex trading at a more high level. People are asking me questions which are making me realize that I need to cover some more basics about forex trading.So, lets start with it. I'll share the information that you'll need in day to day forex trading.1. Learn how is online forex trading done -Forex...

CSI Forex

If you trade the Forex market you will inevitably encounter the proverbial down day (or worse yet a series of down days). By bad day I mean when you put on a trade and from 'pip' one just goes against you. Tell me, after this happened have you:Chased the trade and ended up losing more?Revenge traded against the trend to recoup your losses and ended up losing more?Moved your predetermined stop and...

Learn Online Forex Trading - What is Double Top??

Learn Online Forex Trading - What is a double top and a double bottom? How much reliable is it?Before I start going through details about Double top, I need to share with you that I am very excited today..Why??Yesterday when I was doing analysis of the charts of EUR/USD and GBP/USD for forex trading, my analysis said that market will bounce tomorrow because it has hit 38.2 fibonacci levels..And...

Time for a Breakthrough

Have you every wonder why do Forex traders fail? Even better have you ever wondered what holds must of us back from reaching our true potential as a Forex trader?Want a hint?Just look in the mirror!!The key to success in trading the Forex market is to just plain get out of our own way!! Here are the common mistakes that leads most traders to failure or better yet, hold the true successful trader in...

Learn Online Forex Trading - Where is the market??

Learn Online Forex trading - Which direction will market go tomorrow?Look at daily charts for EUR/USD and GBP/USD. They are all at 38.6 Fibonacci levels..Wow.What can happen due to this? My 1st guess is that they will bounce tomorrow, as at all the fibonacci levels the currency pair show some support during downtrend.However I'll do forex trading only when I get indicator confirmation. I do fo...

Learn Forex Trading - Was I wrong last week?

Learn online forex trading - Was I wrong last week?I was anticipating EUR/USD breakout last week..What happenned? Was I wrong? Not really..as I didn't knew that the fundamental news of killing of Al-qaeda terrorist will hit the market making USD stronger and stronger. But the important question to ask is - Did I lose any money? No, I didn't..Why?? because I didn't do any forex trading...W...

Money, Banking and the Federal Reserve

I have never been a big fan of the FED. If you have a moment follow this link and view this video. It will provide some interesting insight!http://video.google.com/videoplay?docid=-466210540567002553&q=misesHappy Trading!!For Forex training and education visit my Forex Journey L...

Philosophical FX Mistakes

Trading the Forex market can be tricky at times. We all see this massive flow of money moving between central banks and all we want is to cast our little net into this river of money for some pips. As a technical trader these are the coomon traps I fell into while developing my trading plan.Don’t Analyze the News for Future Price Action!Fundamentals matter, but as a technical trader we are aware...

Joys of Compounding

Hello Forex Nation!!Here is a simple tip. Trade in at least 2 forex accounts. I have a compounding account where I have a dialy pip goal of only 15. I also have what I call my true currency trading account. Here are the differences.Compounding Account15 pip daily goalIntraday trading only5% maximum riskWhen daily pip goal is reached I close all trades and trade stationI rarely withdraw from this account...

Embrace Your Flaws

Hi Forex Nation!!I have returned! Sometimes you need a vacation from your vacation, if you know what I mean! While I was enjoying beautiful Southern Califoria I had time to reflect on my trading. I had some good points and some ... well, let's just say some not so good points. Instead of getting down about what I felt were flaws in my trading game I thought I would list them out and embrace them.I...

Learn Forex Trading - Technical Analysis using MACD Indicator

Learn Forex Trading - MACD indicatorMoving Average Convergance and Divergance (MACD) is one of the widely used indicators in forex trading community. The indicator is calculated on the basis of moving averages. We'll definitely go through Moving Averages tomorrow. Currently please just remember that MACD is based on moving averages.MACD is calculated by subtracting longer moving average from...

Learn Online Forex Trading - What is the market saying??

Learn Online Forex Trading - Welcome to the new week. What is the market saying this week? Last week on Friday the the USD went weak..Significantly weak. Why?? Because the "Non Firm Payrolls" results were not strong. Remember guys and gals, I told you that in forex trading market, the market moves because of 2 broad reasons ?? One is Technical and the other is fundamental. Of the two the most...

Learn online forex trading - A Perfect Mistake

Learn online forex trading - Read to learn something more about forex trading from my perfect mistake - Remember what did I say in one of my previous posts - http://today-fx-strategy.blogspot.com/2006/05/learn-online-forex-trading-popular.html"Discipline - Without it ,I'll loose money and I'll be responsible for it"Here is an example of a trade in which I was making good profit..But,...

Learn Online Forex Trading - Support and Resistance Indicators

Learn online forex trading - What is support and resistance indicator?Support and resistance lines are another set of powerful indicators you would like to learn in online forex trading. Before I explain it, I would like you to watch the diagram very carefully.As you can see there are some key lines at which the price movement bounces. If from a particular imaginary line, the price bounces and...

Learn Online Forex Trading - Do you trade on holidays?

Learn Online Forex Trading - Do you trade on holidays like Memorial day for example?At least I don't!!!The reason is fairly simple. See the online forex trading world constitutes of big banks, institutes around the world. Its not like stock trading which is operated by a regulatory authority. So on a holiday like memorial day I am sure that the banks and financial institutions are closed. This...

Trading Thoughts

Trade to be great and not just good.Trade to be profitableDon’t trade not to lose.Embrace the challenges of the day.Dismiss the distractions.Be decisive.Know your expected outcome before executing the trade.Don’t focus on the results.Focus on the execution.Take responsibility for the outcome.Be realistic and committed.Believe in yourself without doubt.Focus on the pips and not the balance.Become your...

Learn Online Forex Trading - My trade on 25-May-06

Learn Online Forex Trading - Details of my forex trade on 25-May-06 (Thursday)This is a very interesting trade I placed on USD/CAD currency pair. First let me tell you few things about my trading style -1. I trade on 30Min chart and 5 min. Chart.2. 30 Min. chart is used to judge market direction. 5 min chart I use to place entry-exit points.3. I use moving averages to judge market directions.4....

Learn online forex trading - Technical Analysis - Candlesticks

Learn Online Forex Trading - Candlesticks PatternsCandlesticks ?? What are they doing in online forex trading? No..I am not talking about the candles that you light at home.Candlesticks is one of the most widely used indicators to check the market conditions. Make no mistake, It is used across all the markets for trading like Stocks, Options, Commodities, futures and Forex trading of course. On...

Snap

Hi Forex Nation!!I have a little tip to help with the dark side of trading.All traders find themselves from time to time violating some of their own trading rules. There are legitimate times when it is OK for rules to be broken. For the beginner trader, this last rule should never be explored! If are relatively new to trading or you find yourself repeatedly make emotionally bad decisions while you...

Power of Full Engagement

A book review….Hi Forex Nation!!I have just read The Power of Full Engagement by Jim Loehr and Tony Schwartz. This is good stuff! The book challenges the most commonly held principal that the key to high performance is not through superior time management, but through superior energy management.The authors focus on both physical and mental energy as they lead you down their theory through a series...

The Da Vinci Forex Code

Hi Forex Nation!!Did anyone see the Da Vinci code this weekend?? I did! No, I have not read the book, but every time I got on an airplane the past 2 years there was always someone reading this book!Did you notice the references to Fibonacci all over the movie? I did, and was counting the sequence right along with John Langdon (aka Tom Hanks)! That got me thinking a little more about one of my favorite...

Learn forex trading - Technical Analysis - What is it?

Learn Online Forex Trading - This edition presents details about technical indicators.Please remember that these concepts about technical indicators is very important and you better learn technical analysis concepts very carefully. So here we go -The technical analysis is about reading the charts that demonstrate how the market has behaved in the past. What was the price fluctuation in...

Learn Online Forex Trading - Popular Technical Indicators

Learn online forex trading on this website - Free..:-)There are lots of indicators in the market. And here is another amazing statistic. Every person who you speak to, everyone mentions of a new indicator they use. However as with everything, there are few famous ones - 1. Moving Averages2. Relative Strength Index (RSI)3. Stochastic Indicator4. Support and resistance lines5. Parabolic SAR6....

The Black Box

No, I am not blogging about an aviation accident investigation.I got a call from a friend of mine the other day and he asked me if I was still trading Forex?Uh, yah!!!After catching up for a little bit he came to the real reason for his call. He had gone to a free seminar in town last weekend about a company touting their automated forex trading platform. He described the event and I vaguely remember...

Online Forex Trading - Learn Forex trading and how to analyze market to place trade

During yesterday's session to learn forex trading, we went throgh 2 terms -1. Fundamental Analysis2. Technical analysisFundamental analysis in the world of online forex trading refers to government and world happennings like banking policy, government decisions, Non farm payrolls etc. For. e.g. if US government decides that they will import more oil from Canada, the value of USD will decrease ...

New Forex Lenses

Hi Forex Nation!!On my last posting I mentioned that I was working on setting up a series of Lenses.What is a Lens? Well, I have recently come across the concept of a Lens provided by Squidoo. The idea behind it is great as it is like a one stop shop for something that you are passionate about (Forex!!) giving useful information and links. Some examples of a lens could include:Your hobbyYour business...

Online Forex Trading - My trades for 15 & 16 May

Before I go into details about my online forex trading, I need to tell you few more things about placing orders in the online forex tradeing -1. The trades need to be placed with careful analysis. As much as can you gain with a carefully thought trades, there is equal chance that you may loose money with a rash trade without any analysis.2. The analysis is recommended to be done in 2 forms...

Back to the Basics

Hello Forex Nation!!Time to get back to basics!One of the things I like to do on a weekly basis is review my notes when I first started trading the forex market. It serves to reinforce the foundation of my technical analysis, as well as ground me in the very basics of currency trading, no different than bridge builder anchoring their support structures in bedrock! There is nothing stronger in technical...

Online Forex Trading - Which currencies to trade?

Online Forex trading is done using pair of currencies. You make money when the value of one currency changes in respect to the other. There are lots of currencies which are traded -EUR IEuro), USD (Dollar), GBP (British Pound), CHF (Swiss Franc), CAD (Canadian Dollar), JPY (Japenese Yen), NZD (NewZealand Dollar), AUD (Aussie Dollar) etc.These are traded in pairs. The prominant pairs are the ones...

Online Forex Trading - When to trade?

The online forex trading market is open 24 hrs a day starting at 2 PM EST on Sunday till 5 PM on Friday. How is this? This is because Forex trading market is inter-country market and is traded across multiple countries. However the most prominent are - UK, USA, Japan, Australia and France.So as you see, in the morning the US market is trading it. As soon as the USA session is about to get over,...

Online Forex Trading - What is it?

Welcome to another day in world of Online Forex Trading - Your plateform to learn forex trading and to trade withe meSo what is Online Forex trading - Its just like trading stocks, only you do this trading against Forex (Foreign Exchange) or currency. These are traded in pairs such as GBP/USD, EUR/USD etc. You buy one anticipating that its value is going to rise e.g. the other and when it does,...

Forex Trading Tools

Hi Forex Nation!I was discussing with some friends about setting yourself up to begin trading currencies. I found this good article (a little general), but provides a good outline for what do if your are ready to dive in and start learning!Forex Trading Tools - Trading Computers, Forex Charting Software, Trade Stations, Trading Platforms, Forex Advisories,, Forex News: "This is a collection of Forex...

Stop Trading!!!

You ever watch a court room drama on TV and have the judge order a recess just as things are getting hot and out of control? Have you ever been in a trade when things got hot and out of control?Well, that is the time to stop trading and time to regroup!Professional traders have a built in advantage in the form of a professional risk manager. These risk managers oversee the traders and monitor their...

The Canadian Dollar, Swissy of the Americas!

The Canadian Dollar is emerging as the Swiss Franc of the Americas! Recently, the CAD has ascended to levels against the USD that has not been seen since the 1970s!Let’s take a look at some of the events which would make it the CAD the nouveau safe haven currency of the Western Hemisphere.1. Euro as Reserve CurrencyCentral Banks have been on a recent run of reorganizing their foreign reserves....