Forex Trading Techniques - Articles And Conclusions
I have been trading Forex for a living for over 7 years now and have discovered diverse Forex trading systems and strategies.
Subsequent to many trials and errors I've come to the view that simplicity is key, therefore I have reduced my trading into 3 categories:
1. Forex news trading - this means trading the volatility surrounding economic announcements such as Non Farm Payrolls, GDP and others. For this I use software that delivers the news as it is announced and can actually hit the sell or Buy buttons. Sometimes your order will not be executed so it is possible to enter on a reversal, based on the news direction.
2. My own Forex trading methods and strategies, these fundamentally come down to 2 simple methods:
2.1. Selling resistance and buying support, based on ascertained pivot points, Fibonacci numbers and trend lines.
2.2. Very fast scalps which involve executing short and sharp trades and minimizing risk. This requires some training, but once mastered it can be easy to make money .
3. External Forex Trading systems - there are many systems for sale and most of them are useless, written by Internet marketers for the sole purpose of making money for the system vendor. These systems are a complete waste of time but the sales pitch is often good. I have found some that work well and balance my own trading techniques.
Timing and time in Day Trading
It is highly important to understand the period that you choose to execute trades in and appreciate what you potentially expect at that time of day. This differs from instrument to instrument, so it is important to understand market behavior for your particular instruments. I regularly trade only 4 instruments; the DAX, Euro, Japanese Yen and the GBP/USD, and I am pretty familiar with their behavioral patterns in the trading day.
Other instruments differ dramatically and I will deal in them (I do occasionally trade WTI, Nat Gas, and other currencies) after I've studied their time related behavior. Most of my trades bar the DAX and GBP/USD are news related and of course, when figures are published a different volatility exists which is normally out of the usual patterns.
The prime time to execute trades in the DAX (German Index, and moves in tandem with the DOW mostly) is near the London open at 08:00 (03:00 EST), as the open usually brings a large surge in orders and it's easy to scalp. From time to time the scalp will turn into a longer term trade, if a trend develops, however it is sometimes possible to achieve a gain of 20 - 40 points in the first half hour of trading. As my daily target is 30 points and it is often achieved within 30 minutes, I can then relax and look for absolutely perfect set ups that will not risk the gain.
Some of my fellow traders will stop then and do something else. It certainly gives one plenty of time, but those 30 minutes require intense attention.
If you need more information please review my blog by clicking the link.
The blog also contains live trade examples and videos.
The Two Primary Types Of Forex Brokers And Why It Is Vital To Know Their Differences
If you have already figured out your forex trading strategy by now, you are not in the clear yet. Now comes the part where you get to choose the type of brokerage firm that will fit in seamlessly with your plan.
Forex Trading Online - The Real Opportunity For Individual Traders To Participate In The Largest Market Of The World
The forex market is alive twenty four hours each day and so you can do your transactions at any time. If you have an internet connection at home, you can monitor the forex market trends and other vital info.
What Does Yen Carry Trade Means And What Kind Of Influence It Could Have On Your Forex Trading Results?
The JPY is the currency most frequently involved in carry trade. This is because over the past years it has consistently been a major currency with the lowest interest rate. The BoJ, which controls Japanese interest rates, has set them at a a very low level.
How To Be A Foreign Exchange Trader And How To Remain Profitable Long Term In This Industry
Nevertheless, forex is a very volatile market. This means that the prices can rise and fall steeply and quickly. The risk is high. It is easy to lose money.
Getting Smart On Day Trading - What You Really Have To Find Out Before Getting Involved In This Risky Business
You Need To Be Knowledgeable To Play The Daytrading Game. Not only does daytrading require you to be a wise decision-maker, but, most importantly, it also requires you to have a good background in currency markets and trading strategies.
Comparing The Two Types Of Forex Trading - Select The System That Fits The Most Your Character
In choosing between these two major types of trading activities, the most important thing you have to consider in order to gauge which way would be more beneficial for you is to contemplate on your reasons for trading.
Can You Count On Forex Automoney To Function As Your Forex Robot?
All reviews believed, Forex Automoney does appear to work for some people but it might not work for you.
I have been trading Forex for a living for over 7 years now and have discovered diverse Forex trading systems and strategies.
Subsequent to many trials and errors I've come to the view that simplicity is key, therefore I have reduced my trading into 3 categories:
1. Forex news trading - this means trading the volatility surrounding economic announcements such as Non Farm Payrolls, GDP and others. For this I use software that delivers the news as it is announced and can actually hit the sell or Buy buttons. Sometimes your order will not be executed so it is possible to enter on a reversal, based on the news direction.
2. My own Forex trading methods and strategies, these fundamentally come down to 2 simple methods:
2.1. Selling resistance and buying support, based on ascertained pivot points, Fibonacci numbers and trend lines.
2.2. Very fast scalps which involve executing short and sharp trades and minimizing risk. This requires some training, but once mastered it can be easy to make money .
3. External Forex Trading systems - there are many systems for sale and most of them are useless, written by Internet marketers for the sole purpose of making money for the system vendor. These systems are a complete waste of time but the sales pitch is often good. I have found some that work well and balance my own trading techniques.
Timing and time in Day Trading
It is highly important to understand the period that you choose to execute trades in and appreciate what you potentially expect at that time of day. This differs from instrument to instrument, so it is important to understand market behavior for your particular instruments. I regularly trade only 4 instruments; the DAX, Euro, Japanese Yen and the GBP/USD, and I am pretty familiar with their behavioral patterns in the trading day.
Other instruments differ dramatically and I will deal in them (I do occasionally trade WTI, Nat Gas, and other currencies) after I've studied their time related behavior. Most of my trades bar the DAX and GBP/USD are news related and of course, when figures are published a different volatility exists which is normally out of the usual patterns.
The prime time to execute trades in the DAX (German Index, and moves in tandem with the DOW mostly) is near the London open at 08:00 (03:00 EST), as the open usually brings a large surge in orders and it's easy to scalp. From time to time the scalp will turn into a longer term trade, if a trend develops, however it is sometimes possible to achieve a gain of 20 - 40 points in the first half hour of trading. As my daily target is 30 points and it is often achieved within 30 minutes, I can then relax and look for absolutely perfect set ups that will not risk the gain.
Some of my fellow traders will stop then and do something else. It certainly gives one plenty of time, but those 30 minutes require intense attention.
If you need more information please review my blog by clicking the link.
The blog also contains live trade examples and videos.
The Two Primary Types Of Forex Brokers And Why It Is Vital To Know Their Differences
If you have already figured out your forex trading strategy by now, you are not in the clear yet. Now comes the part where you get to choose the type of brokerage firm that will fit in seamlessly with your plan.
Forex Trading Online - The Real Opportunity For Individual Traders To Participate In The Largest Market Of The World
The forex market is alive twenty four hours each day and so you can do your transactions at any time. If you have an internet connection at home, you can monitor the forex market trends and other vital info.
What Does Yen Carry Trade Means And What Kind Of Influence It Could Have On Your Forex Trading Results?
The JPY is the currency most frequently involved in carry trade. This is because over the past years it has consistently been a major currency with the lowest interest rate. The BoJ, which controls Japanese interest rates, has set them at a a very low level.
How To Be A Foreign Exchange Trader And How To Remain Profitable Long Term In This Industry
Nevertheless, forex is a very volatile market. This means that the prices can rise and fall steeply and quickly. The risk is high. It is easy to lose money.
Getting Smart On Day Trading - What You Really Have To Find Out Before Getting Involved In This Risky Business
You Need To Be Knowledgeable To Play The Daytrading Game. Not only does daytrading require you to be a wise decision-maker, but, most importantly, it also requires you to have a good background in currency markets and trading strategies.
Comparing The Two Types Of Forex Trading - Select The System That Fits The Most Your Character
In choosing between these two major types of trading activities, the most important thing you have to consider in order to gauge which way would be more beneficial for you is to contemplate on your reasons for trading.
Can You Count On Forex Automoney To Function As Your Forex Robot?
All reviews believed, Forex Automoney does appear to work for some people but it might not work for you.
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