Gunslingers and Casinos

Living in Arizona I am always surrounded by images of the Wild West. With numerous casino operations in and around the area and my relative proximity to one of the largest gaming centers in the world, Las Vegas, I am also surrounded by the images of the gambler.Every gunslinger has its sheriff and every gambler has its casino. What we must decide early on in our trading career is which side of the...

Placing the trades using Pivot Points

Placing the trades using Pivot Points - Apart from the common indicators such as EMA, RSI and Fibonacci, another technical indicator is very popular between trades which is pivot points. This technical indicator is mostly used for currency day trading. Point pointsare nothing but some pre-identified support and resistance levels which are something like mutually agreed between the traders in...

The Power of the Process

Here is a little advice for those just starting their Forex Journey.To learn to trade Forex (or any liquid market for that matter) requires no great skill. It only requires perseverance and desire. There is, however, a learning curve that all traders must ascend. There are, in my opinion, 3 areas that traders must gain supreme confidence with in order to succeed.1. StrategyYou must learn the language...

Trading with EUR, GBP

Trading with EUR, GBP - The popular currency pairsEver thought which are the most popular currency pairs to trade? Yes, EUR/USD is the popular of all and generally has tightest of spreads which is 2-3 pips depending on the broker.The next is GBP/USD - the highly volatile and has spread of 4-5 pips. What follows is USD/CHF and USD/JPY. Generally have 4-5 pips spread.Remember the high the volatile...

Forex Day Trading System : Resources for Forex Charts

Forex Day Trading System : Resources for Forex ChartsIn one of my articles few days back, I mentioned the importance of reliable and realtime forex chart. Some of you have asked me few sources for them.The best source is the chart service that your broker provides. So, for e.g. since I use the plateform offerred by FXCM, I use the chart provided by them since my buy and sell price are reflected...

You Are Who You Are

Over the past year I have been branching out with my personal development. During my forex journey over the past 18 months I have taken a series of personal development courses and certification workshops that has provided me with great insight on how the human mind operates. Especially for traders!In addition to being a currency trader and educator, I am now both a Board Certified Hypnotist and Success...

Day trading the Forex: Zing is missing from the NFP announcements

Day trading the Forex: Zing is missing from the NFP announcementsSomehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..Is it because the NF payroll is not being treated as important by market anymore? This...

March Payroll Follow-Up

Chart courtesy of eSignalWell, the Non-Farm Payroll numbers blew away consensus. February's numbers were even revised upward, but because of the light volume on Friday explosive volatility was concentrated just to the majors. The EUR/USD has returned a strong support area at 1.3370, which is the Dec 4 swing high and 38.2% retracement level of the Mar 4 to Apr 5 rally.JPY/USD should offer some interesting...