Category — The Basics
Before you begin to trade in Forex you need to learn some basic skills that is of course if you want to be a profitable Forex trader..
One of the most essential skill you require is the ability to be able to know to read forex charts correctly.
Because once you have acquired this vital skill you will find that it will be a lot easier and quicker when the time comes for you to learn and practice an actual forex trading system.
By the end of this article, you will have learned how to read forex charts plus you will also be more aware of the many pitfalls that can occur when reading them. Particularly if you haven’t traded Forex before.
Before we start in earnest let us take a look at some of the basics of forex trading as they relate directly on how to read Forex charts. I the example below I shall be using the currency pair of EUR/USD. [Read more →]
March 25, 2012 Comments Off
These Forex trading systems were originally posted by “Ingot” who contributed many articles which can be found on www.topstocks.com.au . I highly recommend Topstocks to you as Topstocks as the first place to go when you are researching forex or shares. You can join for free by clicking here.
Acknowledgement: See link below. The author of the method is “free84″ from Forex Factory.
Here is the essence of the method as originally posted:
1. Set up the TWO indicators on the chart
2. Follow the Entry / Exit signals as per the picture below - LONG entry shown - Short is Vice Versa.
3. Stops are triggered when a bar touches the trend line.
March 11, 2012 Comments Off
So whether you are planning to invest in either Forex or the stock market it might be handy to have a trading system in place before you start trading. As this could assist you to become more profitable.. But firstly before you do commence trading , it might be a good idea to have an understanding of what trading systems are and how they operate.
A trading systems relates to particular rules or guidelines that ascertains the points of entry and exits.
These are commonly referred to as Signals for any given stock.They are often shown on a chart in real time and these signals will prompt you as to when it is the right time to either enter or exit a trade.
The following technical analysis tools which give out these signals are most commonly used. These are the moving averages, Bollinger bands, stochastic, relative strength, and oscillators. Just about most of the time a combination of these tools will determine a signal for either entry or exit.
What are the benefits of a Trading System. [Read more →]
March 11, 2012 Comments Off
Lately it seems that more and more investors and share traders are turning away from the traditional markets, like stocks, bonds and commodities and looking to building their fortunes in the foreign exchange (forex) marketplace.
Some of the reasons why they are changing to the exciting world of Forex trading is because of its many advantages over other traditional forms of investments.
Here are Seven reasons why traders are changing over to Forex Trading.
1) The forex market is open 24 hours a day, it never sleeps.
You can enter a trade, or exit whenever you want. You do not need to wait for the market to open.The hours are not so restrictive as the stock market. You can choose the best time that suits you for when you want to trade. [Read more →]
March 10, 2012 Comments Off