Forex Trading at its best when technical indicators work like they should

Forex Trading at its best when technical indicators work like they should -A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.The same happenned with AUD/USD. My analsis of this

Forbidden Words

Words are one of the most powerful tools we use in our day-to-day lives, so consequently they hold the same power in our trading. They can penetrate our subconscious thoughts and reek havoc on our confidence. Part of your Forex Journey is to use words that will empower your trading and not chip away at your results.

The following words should be stricten from your vocabulary!

TRY - Replace with DO or DON’T. TRYING IS FAILING WITH HONOR! You are either going to be a success for trader or you are not going to be a successful trader. Decide today which one it is going to be!

CAN’T - There is no replacement for this word and should be abolished from your vocabulary permanently!

BUT - Replace with AND. Any thought that follows but is an excuse. The first rule about becoming a great trader is to accept full responsibility for the results of your trades.

Here are some other words that will disempower your trading. Bring power into your trading and your life by using these replacement words.

Don't Hope, Know!
It is not If, it is When!
You don't have Problems, we rise to Challenges!
Why doesn't solve anything, but Whats or Hows do!

Happy Trading!!


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Forex Trading using MACD

Forex Trading using MACD - As I mentioned in one of my previous posts, MACD is one of the very powerful and widely used technical indicator. In fact it is one of the very common indicators used in most of the currency trading system. However, this indicator needs to be used very smartly. Thats because this is a lagging indicator, which means that it gives a trading confirmation after the event

No stopping for GBP Pound

Milestone in the currency market - No stopping for GBP Pound.Today the GBP/USD currency pair touched 2.0000 mark which means that 1 USD = 2 GBP.The expert team is not sure till when will this run of pound going to continue. When I look at the daily chart I find the currency pair to be in 5th Elliot wave which means that the run can stop any time. My guess is that it will run till 2.150 or where

Easy Math

Today we saw the British Pound sour above the 2.0000 level marking a breakthrough of a major psychological barrier. I have to admit that over the past several months I have cheated on my favorite currency pair in lieu of the Euro and Yen. I have to take a moment to reflect while the Pound sits at levels it has not seen in 15 years.

What does this really mean?

Has Sarbox regulatory constraints contributed to the raise of cable?

Has geo-political events ushered in a long term change against the USD?

Or has the change in central bank reserves been good for the pound?

Nah! What this really means is that it is now easy math for us Americans traveling to the UK. A pint of beer in the pub costing £3 can easily be converted to $6. Sweeeet!!

And easy math is this traveler's dream!

Happy Trading!!


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The week opens and so do the forex trader's trading station

The new trading week opens and so do the forex trader's trading station.Today is sunday and the Australian and JPY market are open and I am alreading seeing a lot activity by the currenc traders. Typically this time of the day the volatility is very less. Today its a bit high.The currency pair that is interesting me more is the GBP/USD. The currency pair is already making adouble top. To confirm