Archive for the ‘Trading Strategies’ Category
Best Forex Signals
February 14th, 2009
Forex Signal Services - What You Should Be Looking Out For
There are plenty of forex signal services on the internet, most of whom promise vast riches through the seemingly consistent profitable signals that they give to their subscribers. However you have to be careful not to be lured in by their past results and do your own research beforehand.
I personally remain very skeptical about the vast majority of forex signal providers out there simply because most of them are not as profitable as they may appear. Their performance figures are often hypothetical and massaged in a lot of cases.
For instance, they will often quote the best case scenario for each of their signals, so if they came up with a signal to go long and it went up 100 points before falling back down, they would claim that that signal resulted in a 100 point profit. In other words they closed their position for the maximum profit possible when in reality it is very difficult to get out at the very top of a move.
This is why I think you should always look for signal providers run by professional traders who actually trade the signals themselves. This way you will be presented with more realistic performance figures as real entries and exits are made by the signal provider. You will also have more faith in the signals themselves because you know that a professional trader is also trading them with you.
You will also benefit yourself because there’s no better way to learn about forex than trading with and learning from a professional trader. In addition, some signal companies also offer a live trading room so not only can you learn from the professional trader giving the signals, but you can also learn from the other traders in the room.
Another point to consider is whether the signal provider offers a free trial period. With some companies charging several hundred dollars a month for their signals, you don’t really want to be parting with your hard earned cash before you’ve tested out their signals yourself, and gained some experience of how they come up with their signals and how reliable they are.
So to sum up, you ideally want a signal provider run by a professional trader or team of traders that actually trade their own signals, and one that offers a live trading room and displays it’s results accurately. You also want one that offers a free trial period, if possible, and finally it must of course be profitable overall.
I will also add video for the Methods of trading to help all those who learn better visually. If anyone has any ideas or input please let me know. 4 Hour forex signals. Published on Fri, Feb 13… Read more…
Full Software: Forex Signal, Forex Signals Advice
There are lot’s of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex sign… Read more…
Forex Companies List: Free Forex Signals
Free Forex Signals. Free Forex Signal at 12 January 2009. All Pair – Stop loss 35 Pips EUR/USD Pivot : 1.3548. Avg. Daily Range : 327 point. BUY at 1.3475 Exit Target 15 pips. SELL at … Read more…
Download5000.com - Forex Signal Software - forex signal software …
Forex Signal Software can generate Live & Real-Time forex trading signals. Read more…
shawn: RECAP for 16:00gmt - [15:07:28] shawn: usd/jpy zlc positive - gbp/jpy zlc positive forex signals [19:56:38] jordan: gbp/usd & usd/cad about to cross - we will get in these trade Monday a… Read more…
By: James Woolley
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James Woolley runs a forex blog where you will find all the latest forex tips and strategies plus a review of Zulutrade, the popular forex signals service.
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Best Brokers For The Forex Markets
February 3rd, 2009
How To Pick A Good Online Forex Broker
Forget Learning How To Trade - Take Me To The Best Forex Software Now!
In these digital times, it is not unusual to find hidden in a home a trader or a broker who is doing their investing all from the comfort of their home. From simple desktop setups to multi screen investing servers, the number of the casual or evens serious home based investor has exploded of late and this is because of the explosion of the internet and the popularity of certain commodity trades. Today, this article will discuss about the Forex market, and how you can pick a good online Forex broker when you do decide to jump on the wagon and start investing from home.
Because of the explosion of the virtual Forex investor, thousands of online brokerages have sprung up on the internet in the almost predictable economic elastic demand and supply. With more and more people looking to commodity trading as a viable source of second or even third income, brokerages and financial firms all over the world have responded by extending their services to the digital world. Before you choose which firm and which broker to choose, there are few things you need to do.
One of them is to find the black list of bad online brokers and those that have a less than pleasant reputation. There are a few collectives that collect a list of names of individuals and companies (including all their aliases and permutations) and place them upon a compiled list for everyone to refer to. If that is not enough, you must also check your local finance and governing body and run a list of potential brokerages and companies you want to join with them - you never know what you might find. Look out for international certificates and regulatory bodies, and make sure that your local government is fully aware of them and recognise them as an official source of certification for brokerages and their individual brokers.
Do not be swept off your feet by a long list of credentials if you do not know what they mean or where they even came from in the first place. Be wary of customer testimonials that are written on the website itself, most of the time they are either doctored or fabricated. The best way to check for referrals is to visit online discussion forums that deal with this particular topic that have no affiliation with the companies you want to join. That way you are ensured an objective opinion and real life stories that will help you decide whether or not you should be joining this company or brokerage in the first place.
Check also for longevity, the more years a broker and his company have been around, the more chances that it is a legitimate and viable source of investing advice. Always be careful where you place your money and it is very, very important that you choose a good online broker that is both legitimate and has the needs of your finances at heart. Remember, be wise about every decision in your foray into Forex, starting with your choice of online forex broker.
Best Forex Brokers of 2009 | No Blight
Looking to start trading the Forex Markets in 2009? Then you must know why you want to invest in the currency market. So what are the real advantages to start Trading Forex. In the early… Read more…
Forex Brokers – What you Want From Them and What you Don’t | Forex …
Many novice traders are nervous about trading with a forex broker sue to the unlimited losses that trading on margin can cause. With these traders in mind many forex brokers will provide… Read more…
Forex Brokers - Finding The Right Broker - Forex Forum
This Article Can Be Found At: Free Forex Information Forex Brokers - Finding The Right Broker Forex brokers are a diverse group. There’s commission. Read more…
The Best Forex Brokers: Forex Training Online: Free Forex Trading …
Forex Robot Beats Online Training Course | information-overload. There is now an automated forex system trading robot that can steadily grow your money provided you retain your trading d… Read more…
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Click Here to claim your Free Forex ‘Basic Momentum Analysis’ report today! Christopher Lee helps thousands of traders learn the proper way to trade currency. He is an authority on Forex candlestick trading at www.Forex-Trading-Training.org.
How To Trade Forex Pivot Points
January 27th, 2009
Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days move and trades are entered when the market hits a support or resistance line of the pivot point providing your OB/OS indicator is in agreement. All the support and resist lines are put in place 1st thing in the morning. then you wait for the market to hit those entry Points.
Contrary to what some might believe, trading Forex with Pivot Points are probably the most popular method used in trading the financial markets today. Long before the invention of computers this was the method used by the traders in the pits to determine hidden support and resistance levels.
The Pivot Point is still used by experienced floor traders and technical analysts alike. The major advantage now is that we now have computers and can calculate our points well in advance. Many charting packages can calculate them for you automatically, thus enhancing the use of Pivot Points.
While there is a lot more to Pivot Point Trading in Forex Trading than will be mentioned in this article, the purpose of this exercise is to introduce you to the concept of trading Forex with Pivot Points.
Remember the market can only go up, down, or sideways. It is like an elastic band that has been stretched, sooner or later it will rebound to an equilibrium point where the market is in balance, and then stretch the opposite way only to rebound and reach another balance point. Then some fundamental announcement or happening will drive the market in a new direction and so on day after day. Pivot Points can aid us in determining how far that elastic can stretch before it rebounds.
While there are many time frames that can be used for calculating Pivots, for the purpose of this exercise lets concentrate on the daily time frame (i.e.: 24hr) Pivot Points are calculated using the previous days, Open, High, Low, and Close figures. There are many Pivot Point calculators available on the web so you don’t have to waste your time doing the calculations manually. Also bear in mind the longer the time frame you are using the longer you must be prepared to stay in the market or wait for the next entry point.
Pivot points unlike many other indicators are an objective tool. Because they are mathematically calculated, there can only be one answer for a specific time period.
Many subjective indicators like Fibonacci retracements, (and I am a great fib fan) Elliot waves etc. can have different people trading in different directions at the same time due to individual interpretation..
The PP’s can help you to predict the next day’s highs and lows in advance. PP’s can give you anything from 4 to 8 support and resistance levels. However you still have to be able to identify the trend to be a successful PP trader. Pivot Points also work best in a trending market.
Entry and exit points
Pivot Points can give you exact entry and exit points, rather than enter markets that are in the middle of a run, or about to turn the other way. Here is where we use other indicators to assist on the entry or exit. If the market stalls at a Pivot Point level, and you have an overbought or oversold indicator that will be a good time to get in or out. Or if a Fibonacci level coincides with a Pivot Point level it can make a strong case to enter or exit a trade. If the market is bullish and your favorite indicator is not near overbought, when it hits the first resistance level then you probably have a good case to stay in the market and make your profit target the next Pivot Point resistance line. The breakout above the 1st resistance level can then become your new stop or stop reverse.
Obviously the reverse is true of the support level as well. By combining the Pivot Points with your favorite indicator you can develop your own trading system that no one else uses.
Trading for the day will probably remain between the 1st support (S1) and resistance (R1) levels as the floor traders make their markets. Once one of these levels is penetrated other traders will be attracted to the market, and should the second level be breached, the longer term traders are attracted to the market.
Knowledge of where the floor traders are expecting support or resistance can be a distinct advantage especially when there is no outside influence in the market. Provided no significant market news has occurred between yesterdays close and today’s opening, the local floor traders and market makers tend to move the market between the Pivot Point (P) and the first support line (S1) and resistance (R1) If one of these levels is breached then expect the market to test the next levels (S2) and ( S3) or (R2) and (R3)
Whilst there are many other aspects to Pivot Point trading why not try this simple method first and see if you can develop your own strategy by using your existing trading technique’s in conjunction with the Pivot Points.
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Self Directed Trader - FX HomeTrader www.fxhometrader.co.za fxhometrader.blogspot.com
What Is Forex Rsi?
January 26th, 2009
Relative Strength Index Rsi - An Essential Indicator For Bigger Profits
The Relative Strength Index RSI is a popular and powerful technical analysis oscillator which has numerous applications including:
Indicating the strength of a price trend and also generating buy and signals with price divergences. The Relative strength Index is quite simply one of the best indicators to use with your forex charts so let’s look at it.
Background
The RSI, as its name implies measures the relative strength of price currently compared to its past price. The RSI was developed by J.Welles Wilder and was outlined in his classic book ‘New Concepts in Technical trading systems’ published in 1978.
The RSI does not show just the markets strength - but the strength compared to the markets former price history.
The RSI is calculated as follows:
Do not worry if you don’t understand the mathematics, this indicator is very visual and you can simply watch the set ups - you don’t need to know how an internal combustion engine works to drive a car and it’s the same with the RSI.
For those who like math’s here is the calculation:
Within a set period of days - the individual difference between the upward closing prices (Close today < Close previous day) and downward closing prices (Close today > Close previous day) are added together - the number is then divided by the number of observations in the period chosen minus one.
The end result is the day’s mean value of the upward and downward strength of the market which is then displayed visually.
Keep In mind
The shorter the Period of time used for the RSI calculation, the more volatile the RSI will be. The RSI indicator has a default of 14, which is the value Wilder originally used when he calculated it. Other values have become popular and include 9, 11, and 25 day periods.
Using the RSI
1. Divergence of Price and RSI
Say the market makes new highs on the chart but the RSI fails to get above its previous high - this would indicate that the trend is starting to falter and is running out of momentum.
Here Traders would be alert for trading signals to enter contrary to the current trend.
2. As an Overbought / Oversold Indicator
The RSI measures the market’s strength and weakness as we have already seen and works very well as an overbought oversold indicator on forex charts.
An RSI, above 70, indicates an overbought bull market and an RSI below 30 indicates and oversold bear market.
When these levels are reached, traders would be looking for a price break and to execute trading signals in the opposite direction.
Combining RSI Other Indicators
By indicating the strength or weakness of price the Relative Strength Index acts as a leading indicator, to alert you to changes in the trend.
The RSI can be used by long term trend followers or swing traders and is simple and easy to use.
Like all indicators it doesn’t work all the time.
To confirm trading signals, it should be used with other momentum indicators and perhaps the best is the stochastic - to actually trigger the signals, once the set up has been spotted on your charts.
The Relative Strength index is now nearly 30 years old - but just like the other indicator Wilder outlined in his book (Average Directional Movement ADX) its a timeless indicator, which will enhance any Forex trading strategy.
Try using it with your forex charts, combined with the stochastic indicator and you will trade with greater accuracy, great profit potential and enjoy greater currency trading success.
RSI - Relative Strength Index Screener - Free RSI Screener - daily technical analysis, scan stock market to give you investment opportunity. Read more…
High PowerRating, Low RSI: A Winning Combination for Traders
When it comes to short term stock and ETF trading, a high Short Term PowerRating and a low 2-period RSI is a sure way to improve the quality of your trades and, potentially, the quality of your short term trading results as well. Read more…
By: Monica Hendrix
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