How MACD Indicator can Count Elliott Wave - learning forex trading basics pdf

How MACD Indicator can Count Elliott Wave ~ learning forex trading basics pdf

Hello 

In this post I will show you how I use MACD Indicator to count Elliott Wave, this method is very useful and easy to apply, especially when the price starts moving  in a new trend. And why I say it is useful and valuable ? Because when you can predict the price movement, you would know where the price will probably head and where it will potentially stop, this helps trader with many opportunities to be profitable.

The screenshot below is the EURAUD 4H I took just now , as of May 9th 2013, you can see the price has breaked the downtrend.

Now I will zoom in a bit and explain the rules how I count the wave : 

• The peak of MACD wave is usually the 3rd wave of price in Elliott Wave Theory ( I assumed you already know the basic of Elliott Wave, if not, I will send you free ebook to learn about this, click Subscribe to be notified when it is available )
• When MACD gets close by zero, it indicates the retracement waves (wave 2 and wave 4) are completed.
• Divergence between price and MACD in the last wave usually show wave 5 is running out of fuel and it is the end of whole 1-2-3-4-5 wave.

Here is the chart how I count the Wave.

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Your Sure Way to Lasting Success in Trading - forex trading chart patterns

Your Sure Way to Lasting Success in Trading ~ forex trading chart patterns

Why is it that some people are successful in trading the markets? And why is it some people fail? Is it luck that determines if you are successful or not in making money from the market? Is it the system or strategy that a person use which determines their success?

A lot would say that it is the system or strategy that they employ which ultimately determines if they come out winning from the market.

Every system that exists on the internet will show you how to make money using it. Without a doubt, it will make money for you. The question is usually how much money will the system make for you. All the system that out there will show to you how their system has work base on historical data or activity and then at the bottom of the page there would be a disclaimer clause that states ‘.. Historical data does not determine or guarantee future earnings....’

So why is it that these sites or page include this disclaimer clause?

The disclaimer clause is incorporated in it because they know that there are certain elements which they can not control. Human emotions.

Human emotions are always the key to either success or failure in any business. And it is no difference when trading the markets. Read all the books about trading that you want, buy all the successful system that you want. If you can’t control your emotions, you can’t succeed in the markets.

That’s the reason for the disclaimers clause because the one thing that the author can not control is their subscribers or customers emotions.

In the market there are but only two main emotions that every trader will experience; GREED and FEAR. When this emotion appears it is not how we eliminate it but rather how we act on it. There are natural emotions that can not be eliminated. This emotions forces us to action, thus how we act on it will determine the outcome.

Like anger, when we are angry at someone, it’s either we say something nasty or we can just kick a bucket or we can just dive into a pool of water. Which ever action that we take, it produces a different outcome or result. 

All too often when we begin to see two to three consecutive loses on our trading activities, we would begin to have doubt. When this happens we are already at the state of fear, we fear losing more of our money and thus begin to doubt that the system is working.

While no system is absolute, meaning no system will guarantee that you will make money ALL the time. The system seller would say that we would be able to make money consistently, provided we follow their system to the dot.

On the other hand, when we begin to see two or three consecutive we begin to feel on top of the world. We begin to feel that we can start making good money from the market and then start tweaking the system or maybe putting more money in the market to leverage our earnings or maybe begin to take on more positions, which ultimately make us deviate from the system which we were using. This is when greed has already stepped in to rule our thoughts. 

There is saying ‘The system is only as good as the person using it’. So if we don’t follow the system either with we are making loses or when we are creating profits. We would ultimately fail. And to follow the system requires discipline. The discipline to act on our fear and greed when it sets in, will determine how well we do in the market. 

Once again discipline is the key. We must have the discipline to say ‘I have reached my target. I should take profits now even though it may go higher’ when greed sets in. And when fear sets in one should say ‘I have to take a position even though the market does not seem to be moving in my favor’

While these are but two circumstances when greed and fears arises, there are, and will be many instances when we need to make a decision to either enter or exit the market. And these are very two most important decisions to take in order to succeed in the markets. The discipline to follow the system diligently no matter what happens to the market

So no matter how good the system is, the only and sure way is to lasting success in the market depend on the discipline to overcome our personal emotional to follow a particular system religiously.

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5 Tips On How To Trade Stock Online - forex trading 15 min chart

5 Tips On How To Trade Stock Online ~ forex trading 15 min chart

Online stock trading has created a boom in the industry of stock market. It has made everyone to enjoy the excitement and thrill of stock trading by using your computer system. It has made possible to continue trading even if you are out of town, therefore, you can have a proper check over the market scenario from any corner of the globe. 

How To Buy Stock Online

In todays fast and busy life, no one has time to visit the stock brokers or firms to gather information or to invest in their schemes. Therefore, the discovery of internet has proved to be the best tool in the stock trading which has given rise to trade stock online from the comfortable ambience of your home or office. No doubt, online stock trading is one the most acceptable method of trading but few points have to be considered while getting involved into it. 

1 - You should always search properly for a renowned and reputable company before investing in stock market as there are numerous sites over internet that deal in the business of selling and purchasing of stocks. You should go through the reviews and testimonials of the other investors those who are already in link with them and you can also visit bulleting boards to grab information about the different companies. 

There is another option of investing in the big-name stock trading companies who have their own online stock trade. You should invest in those companies, which are up to their commitments so that your invested money should not go into drains. 

2 - There are many sites which are linked to the buying and selling of stock to foreign markets whereas some are linked to the foreign and domestic markets. You should decide beforehand with which company you want to start trade so that you should not mess up the things. For example, if you are interested in domestic market but got linked with the site that deals in foreign market then it will create a problem for you. 

3 - You should always opt for the sites of stock market that are fully secured as your financial as well as personal information has to be inserted over the site in order to start the stock trade online. If the security of the site is not upto your level of satisfaction then need not to get involved as there might be the chances that your loaded information can be misused in future. 

4 - First enquire about the fee which is charged by various sites. You should always opt for the site charging less fees per trade, therefore, you should take the benefit of online trading which cannot be enjoyed in trading stock traditionally. 

5 - There should be 24 x 7 hours assistance by the online investment sites so that if there is any help required, they should always be present to assist you. 

Hence, the summary of this article is that one should survey the market before getting into online stock trading in each and every term like security, fees, companys reputation, etc. so that you should not get into the wrong hands.

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MONEY IN YOUR POCKET IS BETTER - forex trading books in hindi

MONEY IN YOUR POCKET IS BETTER ~ forex trading books in hindi

Money in your pocket is better than money in Your mind.  Many times we will not protect our capital because of the big money dreams in our minds, while losing real money out of our pockets to a trade that is moving further against us.  The market can be frustrating and tricky and most market set-ups are fake-outs, therefore it is vital to protect the capital You have for the  few times the market will give You legitimate profitable set-ups.  The challenge with the set-ups is that so many of them look legitimate, that is why they are fake outs.  If You spend 24 hours trading from a shorter term time frame, most of your entries will be bust, so it is imperative that You choose Your trade set-ups and times carefully.

There are times that are more likely to give You a trading advantage, like economic reports, the times in the market that your currency pair is most active; times of breakouts after consolidations, breakouts after consolidation in harmony with Your trend, reversal candles at resistance/support, etc.  Even with the best preparation, it is possible to enter a bad trade set-up; that is why You must be prepared to cut a bad trade when Your rules are violated and wait for another set-up.

  There are times that the market will act up so badly that most people will abandon a perfectly profitable system.  Since trading isnt hard, it must be tricky in order for You to lose money.  More people lose money in the market because of emotions gone awry than they do bad trading systems.  It is hard to sit and wait for a trade and get stopped out or be stopped out at breakeven, or to wait for a market that is choppy.  The market is going to move and find a direction, but what You dont know is when???????

Trading is not for the faint-hearted nor for the perfectionist.  If You are going to succeed as a trader, You must be tenacious and You must know that there is no perfect system.  There are just too many external factors involving too many human beings to make a perfect system.  The system is perfectly random, and looking for perfection or stability will tire You out fast.   Wearing Your emotions thin is the best strategy the forex market has and it works.  Remember the market can be crazy longer than You can stay solvent, so be sure to protect the money in Your pocket first even when You get tired and frustrated.  I hate the market games, but they are there and they are there to break You, but You have to decide how it is that You want to live and be willing to have the discipline it takes to enjoy that lifestyle. 

If You play, only play to win.  ALL OF YOUR MONEY IS VALUABLE, THEREFORE YOU CANNOT AFFORD TO LOSE IT.  THE ONLY WAY TO THRIVE IN THE GOOD TIMES IS TO PROTECT YOUR WEALTH DURING THE SCARCE TIMES. PROTECT YOUR WEALTH FIRST, WHEN THE MARKET IS CRAZY ZIP YOUR POCKET AND SIT IT OUT.  SOMETIMES THERE IS NO TRADE!

#1 PROTECT YOUR WEALTH (You can only build on what You have preserved)

#2 BUILD WEALTH (The market will eventually find direction and when it does, be there to ride the train all the way into the station)

YOU CAN DO THIS (^_^) !

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BEST FOREX TRADER IN ASIA AWARDED BY (updated) FOREX EXPO IN CHINA - forex trading tutorial singapore

BEST FOREX TRADER IN ASIA AWARDED BY (updated) FOREX EXPO IN CHINA ~ forex trading tutorial singapore

Dear All friends,

I am very happy that I am back to India after suceeding the AWARD : BEST FOREX TRADER IN ASIA in Shanghai China (2015 FOREX EXPO).

It was a great experience. Thanks a lot to all my friends and Family Members.

FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT OPENING

FOREX ACCOUNT OPENING CONTACT US

Mail : infoqmanager@gmail.com Skype : qmanager.live

Phone : 0091 9003344190 and 0091 9600329983

Whatsup: +91-9487929983 and viber: +91-9600329983

Facebook : www.facebook.com/forextamil4u

Youtube : www.youtube.com/user/senthamizharasuvta

website: www.tradingwithtamil.com and www.forextamil.com

Tags:best forex trader in asia, forex trainer in asia, forex trader award winner in asia, best forex trader in india

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What is buying selling Of currency in Forex Learn Forex Trading Video Tutorials Lesson 3 - forex trading for beginners books

What is buying selling Of currency in Forex Learn Forex Trading Video Tutorials Lesson 3 ~ forex trading for beginners books

Learn How to Make Money Online from home. My channel will help you to start your online business from home. This is the first video tutorial on what is Forex? I will help you learn forex trading from home in my video tutorials. Subscribe my channel.
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5 Tips for Investing in Penny Stocks - forex trading online charts

5 Tips for Investing in Penny Stocks ~ forex trading online charts

Investing in penny stocks provides traders with the opportunity to dramatically increase their profits, however, it also provides an equal opportunity to lose your trading capital quickly. These 5 tips will help you lower the risk of one of the riskiest investment vehicles.

1. Penny Stocks are a penny for a reason.

While we all dream about investing in the next Microsoft or the next Home Depot, the truth is, the odds of you finding that once in a decade success story are slim. These companies are either starting out and purchased a shell company because it was cheaper than an IPO, or they simply do not have a business plan compelling enough to justify investment bankers money for an IPO. This doesnt make them a bad investment, but it should make you be realistic about the kind of company that you are investing in. 

2. Trading Volumes

Look for a consistent high volume of shares being traded. Looking at the average volume can be misleading. If ABC trades 1 million shares today, and doesnt trade for the rest of the week, the daily average will appear to be 200 000 shares. In order to get in and out at an acceptable rate of return, you need consistent volume. Also look at the number of trades per day. Is it 1 insider selling or buying? Liquidity should be the first thing to look at. If there is no volume, you will end up holding "dead money", where the only way of selling shares is to dump at the bid, which will put more selling pressure, resulting in an even lower sell price.

3. Does the company know how to make a profit?

While its not unusual to see a start up company run at a loss, its important to look at why they are losing money. Is it manageable? Will they have to seek further financing (resulting in dilution of your shares) or will they have to seek a joint partnership that favors the other company?

If your company knows how to make a profit, the company can use that money to grow their business, which increases shareholder value. You have to do some research to find these companies, but when you do, you lower the risk of a loss of your capital, and increase the odds of a much higher return.

4. Have an entry and exit plan - and stick to it.

Penny stocks are volitile. They will quickly move up, and move down just as quickly. Remember, if you buy a stock at $0.10 and sell it at $0.12, that represents a 20% return on your investment. A 2 cent decline leaves you with a 20% loss. Many stocks trade in this range on a daily basis. If your investment capital is $10 000, a 20% loss is a $2000 loss. Do this 5 times and youre out of money. Keep your stops close. If you get stopped out, move on to the next opportunity. The market is telling you something, and whether you want to admit it or not, its usually best to listen. 

If your plan was to sell at $0.12 and it jumps to $0.13, either take the 30% gain, or better still, place your stop at $0.12. Lock in your profits while not capping the upside potential. 

5. How did you find out about the stock?

Most people find out about penny stocks through a mailing list. There are many excellent penny stock newsletters, however, there are just as many who are pumping and dumping. They, along with insiders, will load up on shares, then begin to pump the company to unsuspecting newsletter subscribers. These subscribers buy while insiders are selling. Guess who wins here. 

Not all newsletters are bad. Having worked in the industry for the last 8 years, I have seen my share of unscrupulous companies and promoters. Some are paid in shares, sometimes in restricted shares (an agreement whereby the shares cannot be sold for a predetermined period of time), others in cash. 

How to spot the good companies from the bad? Simply subscribe, and track the investments. Was there a legitimate opportunity to make money? Do they have a track record of providing subscribers with great opportunities?  Youll start to notice quickly if you have subscribed to a good newsletter or not. 

One other tip I would offer to you is not to invest more than 20% of your overall portfolio in penny stocks. You are investing to make money and preserve capital to fight another battle. If you put too much of your capital at risk, you increase the odds of losing your capital. If that 20% grows, youll have more than enough money to make a healthy rate of return. Penny stocks are risky to begin with, why put your money more at risk?

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Forex Awareness Program conducted by Q MANAGEMENT in Madurai - tutorial for forex trading.pdf

Forex Awareness Program conducted by Q MANAGEMENT in Madurai ~ tutorial for forex trading.pdf

Forex Awareness Program conducted by Q- MANAGEMENT in Madurai

Forex Awareness program in Madurai conducted by Tamil- vol 1

https://www.youtube.com/watch?v=dIyo9EqURJI

Forex Awareness program in Madurai conducted by Tamil- vol 2

https://www.youtube.com/watch?v=H9cU5hKrqGg

Forex Awareness program in Madurai conducted by Tamil- vol 3

https://www.youtube.com/watch?v=nLAkphP4ZAQ

Forex Awareness program in Madurai conducted by Tamil- vol 4

https://www.youtube.com/watch?v=J_ObW2bo7BM

FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT OPENING

FOREX ACCOUNT OPENING CONTACT US

Mail : infoqmanager@gmail.com Skype : qmanager.live

Phone : 0091 9003344190 and 0091 9600329983

Whatsup: +91-9487929983 and viber: +91-9600329983

Facebook : www.facebook.com/forextamil4u

Youtube : www.youtube.com/user/senthamizharasuvta

website: www.tradingwithtamil.com and www.forextamil.com

Broker : http://business.evenforex.com/

Tags: forexmeeting, forexillegal, forexscams, forexawarness, forexlegal

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Forex is becoming Legal in India Soon - forex trading for dummies 2013 pdf

Forex is becoming Legal in India Soon ~ forex trading for dummies 2013 pdf

Forex is becoming Legal in India Soon : 

Indian Government Introduces New Regulation for Financial Services IFSC - INDIA. Forex Broker can get License in India. All the World Forex broker are planning to setup their business in India through GIFT - Gujarat International Finance Tec- City. International banking and trading is going to be licensed and made proper system in India.
International Forex business will grow in India as big industry with lot of opportunities.

http://giftgujarat.in/gallery/launchofFirstIFSCofIndia.aspx

FOREX ACCOUNT OPENING CONTACT US
Mail : infoqmanager@gmail.com Skype : qmanager.live
Phone : 0091 9487929983 and 0091 9600329983
Whatsup: +91-9487929983 and viber: +91-9600329983
Facebook : www.facebook.com/forextamil4u
Youtube : www.youtube.com/user/senthamizharasuvta
website: www.tradingwithtamil.com and www.forextamil.com

Tags: forex trading legal in india, forex legal, forex illegal in india, forex illegal, forex banned in india, forex complaints in india

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BANK TRADER REVEALS BREAKOUT STRATEGY - forex currency trading basics

BANK TRADER REVEALS BREAKOUT STRATEGY ~ forex currency trading basics

Hello traders,

Today I would like to show you a technique that is valid for all currency pairs and all time frames (my group in the bank tend to use it mostly on the Daily and Weekly charts to avoid market choppy noise). The name of this strategy is the Breakout, Congestion and Continuation pattern, and it’s a high probability setup given the right circumstances. If you master this technique, you could achieve a 75% to 80% win/loss ratio!

The key concepts are the universal pattern of any currency pair : continuation pattern after a strong momentum breakouts of key Support / Resistance levels, using candlestick formation made by 3 consecutive candles.

Search for the pattern only upon the breakout of a significant horizontal level of support / resistance 

The pattern : You must see a solid breakout candle breaking through the Support / Resistance level

Dont trade if you get "shaky" breakout candles

Trade only when you see one small candle beyond the support / resistance level, then place your stop orders as shown below

Close 50% of the trade at the close of the first continuation candle, then move stoploss to break even.

Finally, close remaining 50% of the trade at the close of the second continuation candle.

There is 75%-80% winning ratio if you follow this strategy. Good luck !

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THE POWER OF DOING NOTHING IN FOREX - forex market basics

THE POWER OF DOING NOTHING IN FOREX ~ forex market basics

I will show you why doing nothing is surprisingly powerful in trading.

This simple exercise had a profound impact on how I will try to manage my trades in future. Once I open a trade and I’ve got my stop to break even its time to do nothing, just walk away.

Obviously the vast majority of my trades would have been stopped out at break even however the small percentage that survived were taken by the long term trend and became little profit pulling machines! To give you an idea of the power of doing nothing lets take just one trade from the EURUSD. I entered this short sell trade back in January 2010, it was a simple trend collapse breakout trade risking 35 pips (2% of my account) and I took profit at around 95 pips. Which is not bad right? I risked 1 to get almost 3. (see details of the move at end of this post)

Now lets take a look what happened if I did nothing. The Daily trend took this trade and it never came back to hit my break even stop. In June 2010 it hit a maximum profit of 2410 pips and if it wasn’t closed it would be sitting right now at 1250 pips. Realistically I believe any long term sell positions on the EURUSD would have been closed the moment the head and shoulders pattern played out on the daily chart at the end of June. This would have closed the trade with a profit of about 1800 pips.

Now here is the shocking part!

Remember that the initial risk on this trade was 35 pips, which was equivalent to 2% of the trading account.Closing the trade at 1800 pips would have resulted in a gain of 102.8% on the account! Remember, this is just one trade!
Obviously this doesn’t account for some losses also taken during that period. But to give you an idea of the power of doing nothing lets take the worst possible scenario. Lets say I’m the unluckiest trader alive and after that trade I lost every single trade I took on the EURUSD to date. My account would still be sitting at a gain of 56.8%! Thankfully I’m not the unluckiest trader alive and that trade was just one of many positions that that would have survived the trend fluctuations without being taken out at break even.

Keep in mind this is only on one pair!

Ok, so back to reality… It would be great to trade this way and I am confident that if I just took trades, moved to break even and then did nothing I would be a more profitable trader. Unfortunately I am human and having trades close at a loss or break even for weeks on end would be extremely difficult to cope with. A logical solution would be to split your positions into two. One half would be treated as normal and closed at your usual target resulting in a nice small gain on your account. The second half would be set at break even and left to hopefully catch a ride on the long term trend. Using this method in my example above that one trade would have still netted over 51%!

Hopefully this has given you the push to do some testing of your own but in the end it just boils down to an old, but very wise quote…

“Cut your losses and let your profits run”

(see details of this move posted in Apr 2010 by a former MIGBANK Researcher here Euro Crisis)
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STRATEGY VIDEOS IN ONE PLACE - forex trading ebooks

STRATEGY VIDEOS IN ONE PLACE ~ forex trading ebooks

My Friends, I am always honored to have you along. I am going to post some strategic videos here that you can book mark so that you can review them from time to time. Keep in mind that every market day is different. Your candlesticks are always telling a story. Look at the past story of the candles to help accurately interpret what your candles are telling you right now.

ALWAYS WAIT FOR PROPER TRADE SET-UPS. Great trading is mostly waiting to meet with great profit opportunity. No truly great trader is in the market all of the time. A truly great trader waits to pounce when she/he sees profit ripe on the horizon. However, I know some scalpers that make more than 200pips a day, but they wait for proper trade set-ups.

You have to choose the trading style that fits your personality, as there are many ways to successfully trade forex and no one has the monopoly on great trading. We have just found what works for us successfully. When you find good stuff, learn what you can, then tweak it to make it your own. Forex is a consistent building of knowledge.

YOU CAN DO THIS (^_^)

Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6

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BANK MANIPULATION TRADING Pro level one to one class in my place to Mr Ravi from Salem India - online forex trading tutorial pdf

BANK MANIPULATION TRADING Pro level one to one class in my place to Mr Ravi from Salem India ~ online forex trading tutorial pdf

I am Started a BANK MANIPULATION TRADING (Pro level) one to one class in my place to Mr. Ravi from (Salem) India.i pray god to shower all his blessings towards him for his successful trading carrier.. by TAMIL

website: http://www.forextamil.com/2014/06/bank-manipulation-trading-course-pro-trader.html

FOREX TRADING / FOREX TRAINING / FOREX ACCOUNT OPENING

FOREX ACCOUNT OPENING CONTACT US

Mail : infoqmanager@gmail.com Skype : qmanager.live

Phone : 0091 9003344190 and 0091 9600329983

Whatsup: +91-9487929983 and viber: +91-9600329983

Facebook : www.facebook.com/forextamil4u

Youtube : www.youtube.com/user/senthamizharasuvta

website: www.tradingwithtamil.com and www.forextamil.com

Broker : http://business.evenforex.com/

Tags: Forex training in salem, forex in salem, forex training in salem, salem forex brokers

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Technical Indicators and EA on MQL5 Market in MT5 - online forex trading basics

Technical Indicators and EA on MQL5 Market in MT5 ~ online forex trading basics

I think, everyone engaged in FOREX trading knows MetaQuotes company and its FOREX trading terminal called MetaTrader. The fourth version of MetaTrader is the most popular nowadays but MetaTrader 5 is winning recognition at a rapid pace. In this review, we want to tell you about a very useful innovation implemented in MetaTrader 5 - MQL5 Market.

You can find a huge number of trading tools on the Internet, including various scripts, technical indicators and Expert Advisors.
Many of these products can be downloaded for free, while some of them are distributed on a paid basis. These are mostly different trading robots developed using MQL programming language. When buying such a product, traders often receive "a pig in a poke". They cannot test an Expert Advisor or indicator before buying it. When it turns out that a purchased trading robot is not so efficient, it is almost impossible to receive a refund.

MQL5 Market helps traders who prefer automated trading to avoid low-quality offers from trading robots developers. MQL5 Market is a special marketplace for buying and selling programs developed in MQL5. Now, any trader working with MetaTrader 5 can download, test and buy trading robots right in the terminal. Before paying for the purchased trading robot, you will be able to test it on historical data and demo account. All trading robots pass careful moderation on MQL5. If product parameters do not fit the description, such a product will not be available for download.

If you are a developer of trading robots, this service can offer you a high-quality marketplace for promoting your trading robots. You will not have any issues when receiving payments for your products, as MQL5 Market has its own payment system. MQL5 Market acts as an intermediary between developers and traders.

As we have already mentioned, MQL5 Market is available right in MetaTrader 5 terminal. To enter MQL5 Market, launch MetaTrader 5 terminal and move to Market tab of Toolbox window.

There you will find a wide variety of free and paid trading robots, indicators and utilities. Before purchasing a product, you should register on MQL5.com and enter the registration details of your account in the terminal.

Then, you need to deposit funds to your account. After that, you will be able to purchase any program easily. Before making a purchase, you can test the application and decide if it suits you or not. After buying the program, you will be able to download your copy and use it on three PCs.

Automated FOREX trading is actively gaining popularity among individual traders. MQL5 Market enables gathering together all FOREX trading applications and provides easy and transparent access to them. You no longer have to browse through a vast amount of web sites and risk your money buying Expert Advisors at unreliable web resources. MQL5 Market makes the purchase and use of Expert Advisors easy and affordable for each trader!

Use the store MQL5 Market now and here.

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How To Incorporate Price Action In Forex Trading System - forex trading chart reading

How To Incorporate Price Action In Forex Trading System ~ forex trading chart reading

There is no unified or centrally cleared market for the majority of Forex trades. 

There are rather a number of interconnected market places, where different currencies instruments are traded. 

This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. 

Trading the Forex market has become very popular in the last few years.

But how difficult is it to achieve success in the Forex trading arena? 

Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? 

Unfortunately very few, only 5% of traders achieve this goal. 

One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor, the price behavior.

In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. 

Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border MA deals and other macroeconomic conditions. 

Most Forex trading systems are made of technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) 

But what are technical indicators? They are just a series of data points plotted in a chart. 

These points are derived from a mathematical formula applied to the price of any given currency pair. 

In other words, it is a chart of price plotted in a different way that helps us see other aspects of price.

Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. 

There is an important implication on this definition of technical indicators. 

The fact that the readings obtained from them are based on price action. 

Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA 

crossover, the long period MA generating a long signal. 

Most traders see it as "the MA crossover made the price go up," but it happened the other way around, the MA crossover signal occurred because the price went up. 

Where Im trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made.

Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. 

For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. 

If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesnt want to go up. 

Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover.

Dont get us wrong here, technical indicators are a very important aspect of trading. 

They help us see certain conditions that are otherwise difficult to see by watching pure price action. 

But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades.

So, how to create a perfect Forex trading system?

First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. 

Every trader has different needs and goals, thus there is no system that perfectly fits all traders. 

You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. 

Make sure you know the nature of whatever technical indicator used.

Secondly, incorporate price action into your system. 

So you only take long signals if the price behavior tells you the market wants to go up, and short signals if the market gives you indication that it will go down.

Third, and most importantly, you need to have the discipline to follow your Forex trading system rigorously. 

Try it first on a demo account, then move on to a small account and finally when feeling comfortably and being consistent profitable apply your system in a regular account.

The description above is the hard way to achieve goals as a forex trader.

There is an easy way also. Try a new, revolutionary software,which can make your life eaiser and can guarantee your profit.

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TOOLS OF THE TRADE - books on forex trading pdf

TOOLS OF THE TRADE ~ books on forex trading pdf

My Friends, as most of you know, I am not the biggest champion of indicators; however I do know how to use them. I am creating this post for my Friends who want more information about different technical tools. I hope you find this very useful. If you have any questions about anything you have seen here you know where to find me. Also you may check out my youtube page that has videos that I think are helpful for both newer and seasoned traders. http://www.youtube.com/user/TRADERSFRIEND.
Education will help you to do what you need to do with Forex. NEVER STOP LEARNING!!!!!

17 Moneymaking Candlestick Formations You Can Use Today Click Here

Fibonacci... its a technical tool that can make you rich. Click Here

Double Tops and Pivot Points explained! Click Here

Traders Whiteboard #4 Click Here



For all of my Friends who were seeking to broaden your understanding, I hope this helps. Thank you for all of your kindness and support always.

Happy Trading My Friends!

If you have any questions, you may reach me
at TradersFriend@yahoo.com


This blog is not in anyway an enticement or solicitation to trade in the Forex Market. These tips are for informational purposes only and are not to be substituted for legal advice or council. I have written this blog in hopes that it will help you to avoid some of the terrifying pitfalls I had in the Forex Market before I learned better.


Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you need for living expenses and cannot afford to lose.
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Multiple Time Frames combine with RSI and support resistance - forex trading charts eur/usd

Multiple Time Frames combine with RSI and support resistance ~ forex trading charts eur/usd

A technique to improve your trading decisions

Have you ever seen RSI overbought and wonder whether it was the right time to sell? Let’s face it, an overbought reading in a momentum oscillator can merely mean that price is strong and may even turn into an uptrend.

Is it a valid overbought signal? Do you sell? Where do you sell? Where should you place your stop?

Quite often using two charts of different time frames can help. For instance, let us suggest you have seen an overbought reading in the daily chart but there is no bearish divergence. What you can do is look at a shorter time frame chart, a 4-hour or 2-hour chart to see what is happening there an whether a more accurate sell signal can be identified. Let us look at recent example in EURUSD:

Above is the daily chart of EURUSD as it approached 1.3258. Daily Rapid RSI was showing an overbought reading but there was no bearish divergence. From this chart alone we probably couldn’t work out whether there was a selling opportunity or not.

This second image is the 2-hour chart of EURUSD but here it can be seen that the peak at 1.3258 was accompanied by a bearish divergence in Rapid RSI. We are therefore on warning that a reversal can occur and that the daily overbought reading may well be correct.

Next we have to identify a selling level and in this case it is on the break of the price support line which has touched price four times before it finally breaks and this is where we can place our sell-stop. The money management stop should ideally be placed above the 1.3258 high but if this is too high and would cause a large loss then we can look at placing a stop above the rising trend line. However, do note that is a rising trend line and could mean that your stop needs to be raised to allow a possible retest of the line.

In this case the trade would have been very profitable with a decline down close to the daily pivot support which rests around 1.3050. A take profit order can be placed just above this to exit the position at a tidy profit.

Utilizing a lower time frame chart to identify when Bollinger support/resistance will hold

Following on from the first description of using multiple time frame charts to both strengthen your analysis and enable tighter entry and exit trades, let us take another look at using these in a different example.

Many traders like to use Bollinger Bands to try and identify entry signals. The problem I have always had with them is that they only provide approximate support and resistance which causes problems in knowing where you should enter and where the stops should be placed. Not only that but sometimes they just don’t seem to work at all as a support/resistance tool and the judgment of when they’ll work appears purely subjective.

Take a look at the daily chart of GBPUSD:

In the center of the chart we can see that price has declined to the Bollinger low and on first touch it does bounce only to fall below the lower band and does so on three consecutive days. On the day before the absolute low Rapid RSI moves into the oversold extreme. Does this mean we can buy? Maybe. Sometimes it works and sometimes it doesn’t.

So what should we do?

The following chart is the 2 hour chart showing the approach to the low at 1.9400.

On the left of the chart we can see that price falls below two identical lows and these can then be considered as pivot resistance. We then see the three pushes lower and on the daily chart we know that the Rapid RSI went into an oversold extreme.

Do we buy at that point because is looks like the Rapid RSI on the 2 hour chart is developing a bullish divergence? The answer is “no.” Divergences should only be traded on a break of a pattern. In this case we have an intermediate downtrend line and it is only after the final low that price breaks above the trend line and thus confirms the bullish divergence in Rapid RSI. You will also note that following the break above the trend resistance that price reverses briefly to retest the trend line which provides a second buying opportunity.

Following the break of the trend line which was the day after the daily oversold reading price rallies by 200 points. That’s a good profit… Not only that, by waiting and observing the 2-hour chart you can avoid trying to pick the bottom as suggested in the daily chart.

Remember, it is normally best not to try and pick tops and bottoms as these will often provide losing trades. Waiting patiently for the right signal by fine-tuning the entry on a shorter time frame chart can reduce losing trades and make the final trade a more profitable one.

Good luck !

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TRADING USING THE DOW THEORY - forex trading basics philippines

TRADING USING THE DOW THEORY ~ forex trading basics philippines

Natural talent is something that all potential forex investors crave. Knowledge and anticipation of how markets move is hard to come by and in truth, it is more of a natural talent than a learnt skill. In spite of this, natural talent alone is not enough and being successful in the markets requires hard work and dedication above all else. Regular forex education is essential if you want to improve the success rate of your trades. One simple way to boost your knowledge is to adopt a trading strategy. Here, we look at the Dow Theory and show how it can help you improve your trades.

The principles behind the Dow Theory are relatively simplistic and, because of this, it is a great tool for new traders. The fundamental belief behind the Dow Theory is that any factor that would influence the market will have already been factored into the offer price. It may be the case that such factors cannot be predicted, but, even so, they are already factored in.

Why Use Technical Analysis?

Put simply, technical analysis uses charts and graphs to predict price movements. By showing the events of the past, it is believed that future developments can be predicted.

The principals state that:
· A chart can define a trend because prices do not move randomly
· History repeats itself so changes can be tracked and charted over time
Technical Analysis, the Dow Theory and Market Trends

The Dow Theory states that you can interpret technical analysis charts by assessing three market trends. These are:
· Primary Trend: a broad trend that can for years.
· Secondary Trend: A trend that lasts between weeks and months, often correcting the primary tren.
· Daily Trend: A daily/weekly short term movement that does little to effect the primary tren.

These trends occur simultaneously and are spotted using technical analysis charts that provide a visual representation of trends.

The Relationship Between Dow Theory and Technical Analysis

If we assume- as the Dow Theory states- that markets reflect all available information, then we must also believe that an aggregate of emotions is also factored in. Such emotions will be reflected in short term trends, but will not affect the primary trend that runs simultaneously.

When assessing technical analysis using the Dow Theory, we must assume that the offer price represents total sum of hopes, fears and expectations of all market participants (including traders, investors and brokers). This means that although the unexpected can and will occur, it will never affect the primary trend, only the short term trend. In conclusion, the Dow Theory allows you to interpret technical analysis graphs and helps you predict upcoming trends. Understanding the three trend lines that the Dow Theory relies upon is essential to a successful use of the theory. Watch trades closely and take a chronological approach and you should be able to make successful trades as a result.
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