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How to Trade Forex Inside Bars

An inside candle/bar is an important price action pattern. A simple definition of this pattern is when the price action of a single bar or candle is inside the one prior. Thus it is referred to as AB pattern or a two bar pattern, meaning it has an A bar and a B bar. What It Represents The pattern is a major signal to the trader that continuation or reversal is about to occur. It represents a time of consolidation or indecision. They typically occur as the market consolidates after making a big directional move. This means that the inside candle can occur at key decision points and at the turning points in the market such as at resistance/support levels. It reduces the risk in entering a trade or in a logical exit point. The pattern can be used as continuation signals or as turning point si...[Read More]

Forex Training – Finding The Best Techniques Of The Trade

Foreign exchange (Forex) is a specific form of trading that involves the buying and selling of various currencies worldwide. Forex trading is traded via inter-bank, which makes it an over-the-counter transaction. It can also be traded via the Internet and telephone. It is a 24-hour global market with trading centers in London, Tokyo and New York. Unfortunately, trading Forex is a difficult undertaking; thus, this market should not be entered into lightly. While anyone who has undergone training can attest that it is not difficult to learn the basics, no one should enter into the market without any kind of training. The good thing about Forex training is, regardless of your choice training, it is accessible to anyone worldwide. Online training, for instance, ranges from basic courses to com...[Read More]

Making a Robust Trading System

If you are a forex trader with not much of experience, it is most likely that you may be feeling it difficult to determine many times, if you need to buy, sell or stay away. If you can devise a mechanical forex trading system, it may bump of your emotions and get rid of your indecisiveness in trading. The forex trading can be made simpler and easier process without any judgment required. Mechanical Forex Trading: A forex system comprises an integration of some rules to segregate the disturbances in the market and isolate the particular circumstances for making a move in the trade. For illustrating a mechanical forex trading system, let us look at a process-taking place in different steps. Each step in followed by a subsequent step until there is some result reached to buy, sell, or stay aw...[Read More]

How To Make Money With Forex Trading

Forex trading is a fast growing market on the internet, and it has the capability to make you a lot richer than you are right now. It seems quite complicated to make money with it to many people, however, and it isn’t any ‘get rich quick’ scheme. It takes time, effort, and most importantly you have to know how to work the system. Doing your research when you plan to get in on the forex trading market is integral. If you don’t thoroughly research the state the market is in, you could end up losing thousands of dollars. It’s very important to take your time and do as much research as you can. Basically, forex trading allows you to exchange currencies. For example, you could trade 100 US dollars for 140 UK dollars. Then, when the value of the US and UK pounds cha...[Read More]

The New Core Principles of RSI May Not Be What You Think

RSI, the Relative Strength Index is one of the few trading indicators used in Forex trading that can actually act as a standalone trading system. A standalone trading system is a system that does not use additional indicators to confirm a trade. How many indicators are you using on your charts? If you are like many traders you are using as many as 3 or 4. What kinds of indicators are most often used? Moving averages, hand drawn trend lines, MACD, RSI, ATR, CCI, Fibonacci, Elliott Wave, price action, chart patterns, candlesticks, etc. Anytime we are using multiple indicators to trade we are not using a standalone system. We are trying to determine price direction at some point in time that will move in our favor and we are using multiple indicators to do it. This is a flawed approach althou...[Read More]

FOREX Trading System – Building One for Big Profits in 3 Simple Steps

Here we are going to show you how to build your own profitable FOREX trading system in simple steps. You can build one easily by utilizing free information on the web. We are going to look at choosing a methodology, structuring the system and implementing it for profit – It will give you big profit potential and won’t cost you a cent. The methodology below is the basis for all my trading systems and its very simple. I have traded for over 23 years and tried just about ever system out there and the fact is: When trading FOREX, simple systems beat complicated ones, as they are more robust in the face of ever changing market conditions. The methodology below works and will continue to work, so let’s take a look at it. 1. Methodology Look at any FOREX chart and what do you se...[Read More]

Is There a Correlation Between The Dow Jones & Cryptocurrency?

After a rather nice bull run The Dow Jones Industrial Average has had a rough couple of weeks. Cryptocurrency also is experiencing a correction. Could there be a correlation between the two investment worlds? We need to be careful using vague terms like "bull and bear markets" when crossing over into each investment space. The main reason for this is that cryptocurrency over the course of its amazing 2017 "bull run" saw gains of well over 10x. If you put $ 1,000 into Bitcoin at the beginning of 2017 you would have made well over $ 10,000 by the end of the year. Traditional stock investing has never experienced anything like that. In 2017 the Dow increased approximately 23%. I'm really careful when reviewing data and charts because I realize that you can make the num...[Read More]

Attractions Of Mexcel Trader By FxDialogue

Metatrader by FxDialogue, is an extremely user friendly commercial solution, which does almost all things which user need to perform with Metatrader4, by simplifying it through amalgamation of the trading platform with Microsoft Excel. Metatrader4 is used by online Forex (foreign exchange) speculative traders as a software program and in Forex terminology; it is called Electronic Trading Platform. This software uses scripting language MQL4, which enables Forex traders to develop scripts, custom indicators and the most attractively, create Expert Advisors. Many brokerages that were using other trading software replaced or started using Metatrader4 as alternate trading software. It is very effective as it provides real time charts, operations in trade and technical analysis. Metatrader4 plat...[Read More]

A Forex Trader Mind 1

When you first look at how the forex market behaves in a chart, the first thing many new traders are prone to think is that they can predict the behavior of that market. There seems to be something on the charts screaming at the new trader that the market’s next move can be somehow easily predicted. That he could have predicted that jump or plunge of a particular currency that develops in front of his very eyes. And this prediction method shouldn’t be hard to implement. As you analyze a forex chart you can see how the price of a particular currency pair behaves as in a wave pattern that bounces up and down with very particular oscillations. As you travel along with the “wave” it’s very probable that you can’t refrain yourself of thinking that you somehow...[Read More]

Can We Effectively Trade Forex Sans Indicators?

Is a basic knowledge of technical analysis necessary in order to have a successful Forex trading experience? Only if you are part of the majority of Forex traders who rely on technical indicators to make their trading decisions. Of course, it doesn’t mean that technical analysis is junk in terms of trading. In fact, a lot of traders can’t trade profitably without consulting the indicators of their choice. What this is driving at is that technical analysis is not the only route to a profitable trading career. Fundamental analysis can take the place of technical analysis. This means a long term perspective of the direction of a particular currency by utilizing the present economic status as well as future economic predictions. In 1992, George Soros took a short position on the po...[Read More]

How to Trade Using Forex Indicators

This is a simple but powerful strategy on how to trade using but a limited number of Forex indicators mainly the 3 moving averages and discipline to profit and loose less. When trading the stacked moving average system, the point of entry must always be when the candle has crossed all 3 moving averages. These are in the order 200ma, 20ma and 8ma when “shorting” and the opposite when trading “long”. The candle concerned must close above or below the 8 moving average (depending if you are short or long.) Look out for and respect the 3 moving averages order of entry! Never immediately trade a previous days trend continuation… wait for a retracement in price and trade the Parabolic SAR indicator after a retracement – or take the trade only if the 3Ma’s...[Read More]

Tips on Forex Trader Mentoring

Are you looking for Forex trader mentoring? It’s a wise idea if you want be become a successful home trader. Finding an individual or a company that is already successful in the Foreign Exchange market will make this much easier to do. You can earn a great income as a Forex trader. Many people are finding out that this is by far the easiest way to start a home business. It’s real. It’s not a bunch of hype. Banks, corporations, and governments trade this market. It’s a phenomenal industry to join. In the past, learning how to trade would to take years to perfect. You would have to learn how to read price charts, recognize patterns, use oscillators and indicators, have sound money management techniques plus keep your emotions in line the entire time. It was no easy ta...[Read More]

LMD MultiCurrency Review – Winner of the FRWC

The Forex Robot World Cup (a.k.a. FRWC) is now officially over and a winner has been announced: the LMD Multicurrency trading robot which was developed by Drazen Ziskovic of Croatia. As you may know, there are hundreds of Forex robots in the world and the market is full of scammy and shady robots sold by greedy marketers. Only a small percentage of robots really work well and it’s difficult to know in advance which are the gems and which are the duds. This is why the Forex Robot World Cup was established in the first place: to provide a way for traders to see robots in action, tested on live accounts (not back testing), all on the same platform with the same conditions. This head to head battle of the robots took place after rigorous screening phases in which most of the submitted ro...[Read More]

Using Technical Analysis in Forex Trading

Forex trading is the trading of foreign exchange on the global markets. The technical aspects of forex are mainly concerned with the events of the forex market rather than what can actually happen. A technical analysts studies the price and the volume movements of the market and with the help of such data that are derived from the various actions of the market players, creates charts and graphs. These are later used as the primary tool of Forex trading analysts. The technical analysts are not much concerned about larger aspect of the market but rather concentrate on the different activities of the concerned instrument's market. The main principles on which the technical analysis is based upon are as follows: – Market action discounts everything: the phrase means that the exchange...[Read More]

New RSI Concepts and Momentum the Key to Profits In Forex

Can you imagine trading and seldom getting a trade wrong? Can you imagine that it happened at about the same time each day so you didn’t have to sit in front of your computer and watch hour after hour? Better yet can you imagine trading and getting the direction of the trade right more often than you got it wrong and that when you entered a trade momentum in the market immediately moved price in the direction of your entry and put you in profit? Trading Forex is not simple but it is much easier than most people make it. Just recently I was browsing through some trading forums and I came across one on trading naked; or price action trading. This concept is like the name implies, trading with not much more than price, however the funny thing was that the first chart that the trader who...[Read More]