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