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Making Money With Forex Trading – How It’s Done

The currency market, or more specifically the forex market, derives its name from the generic term foreign exchange market. The forex market is a decentralized global network of trading partners, including banks, public and private institutions, retail dealers, speculators, and central banks involved in the business of buying and selling money. The forex is a spot market, which means that it trades at the current market price as determined by supply and demand within the marketplace. This differs from currency futures traded on the commodity exchange in the United States,which trades a contract price for delivery in the future. In the spot market you are trading cash for cash at the current market price. The forex is the largest, fastest-growing financial marketplace in the world. Every tr...[Read More]

The Future of Forex Trading

If you don’t know, algorithmic trading is the use of special apps for trading orders. Actually, with the algorithm apps, complex calculations involving price, quantity and timing of the order is carried out. And the great thing about these programs is that they work automatically, and you don’t have to operate them manually. Let’s know more about this system. The logic The apps involved in this trading system work both on short-term and long-term basis. They allow you to make profit in 24 hours as well. What logical system works behind them? Actually, the function of the programs is to detect price differences and then help you earn profit from the price differences. The decisions of a human are influenced by emotions, but the same can’t be said about computer progr...[Read More]

Ordersend Error 130 – Err_invalid_stops

If you are getting the Metatrader error: Ordersend Error 130, it could mean a few different things are going wrong. First, it might mean your stop loss is too close to the market price. Second, it might mean your take profit is too close to the market price. And Third, if you are placing a pending order, you might be trying to place it too close to the market price. What should you do? Because there are many different forex brokers with different account types out there, you have to check the current account’s market info within your expert advisor to find out the minimum stop level distance you have. Some accounts are 3 pips, while others might be 15 pips. The function you will use is called MarketInfo. It requires two parameters, SYMBOL & TYPE. SYMBOL is the currency pair or se...[Read More]

Understanding Forex Trading – How to Detect Range Breakout in Forex

Range is formed when the market consolidates. Most of the time the market is moving sideways or consolidating between two horizontal levels that are known as the support and the resistance. When the market is confined between these two horizontal levels, it is said that it is range bound. A market cannot stay in a range for a long time. Invariably, it will come out of a range. When it breaks the range, a new trend starts in the market. Trading range breakouts is an important trading strategy that tries to capitalize on these breakouts in the up or the down direction. How To Identify True Range Breakouts? Ranges are easy to spot as price action will be confined between two horizontal levels called the support and the resistance. There are a number of important chart patterns like the Head a...[Read More]

The Stochastic Oscillator Should Be a Part of Your Trading Toolbox

The world of Forex trend analysis uses many technical indicators and Stochastic is one of them. The Stochastic Oscillator was developed by George Lane in the 1950s and has since become an essential tool for comparing the current currency price with the most recent highs and lows. To understand how a Stochastic Oscillator works, let's take Stochastic (7) for example. In this case, it means the current position of the currency price is being defined by the analysis of the last 7 bars in relation to the corresponding high and low range of those 7 bars. 1 bar presents 1 day. So when the daily chart shows the Stochastic (7) being too close to the zero line, it means the current price has hit the all-time low level in the past 7 days. In case the same chart has its stochastic line close to 1...[Read More]

Tape Reading Technique Secrets for Trading Stocks 101 – A Wall Street Insiders View!

Most people who get into trading stocks have found that tape reading is difficult to do and it is very stressful. As a former Wall Street insider there is a secret that most retail traders don’t know. Don’t trade any stock that has an average volume over one million shares a day! That is it! That is the big secret most Wall Street insiders use to their advantage. Most retail traders like to trade the stocks that are on the most active lists because they are easy to buy and sell and they have tight spreads. But there is a big problem with most stocks that trade on heavy volume and they are: Institutional order from every direction Spread traders/hedgers Too much information Institutional Order from Every Direction Once there are too many institutions involved in trading a stock ...[Read More]

How to Use Stochastic to Improve Your Trades

A lot of traders underestimate the effectiveness and simplicity of swing trading using the stochastic oscillator. Stochastic is one of the best indicators to determine when a currency is either overbought or oversold. By using this indicator, you can determine when a trend is about to reverse and take advantage of that swing to the opposite direction. This is how this strategy works: As discussed before, we are simply taking advantage of reversals of a trend so, when the currencies are overbought, we sell or go short and, the opposite is true when a currency is oversold where we would buy or go long. The stochastic oscillator is the perfect indicator for this type of strategy, but, before we get into the strategy itself, let’s get the technical explanation out of the way. No worries,...[Read More]

Signs of Inflation

To most of the people, inflation may not be a good thing because they need to pay more for their foods and living. Because of this, we need to pay attention to the economic world and prepare for inflation is there are signs of it. Inflation by definition is the sustained increase of sustained increase in the general level of prices for goods and services. People use an annual percentage when they refer to it. Because of the close relationship between inflation and money, it affects our lives so much. As mentioned, when inflation rate is high, we are actually paying more for less. This implies the value of our money is decreasing in accordance to the inflation rate. And hence, our purchasing power is lower as well. Therefore, it is important to look for any signs of inflation. The most obvi...[Read More]

How to Value Currency Pairs

Typically, in the FOREX market, currencies are traded in pairs. For example, Euro/US Dollar or US Dollar/Japanese Yen. Whenever you trade currencies online, you are then, buying one currency and selling another. Currency pairs are abbreviated. The above pairs would be EUR/USD and USD/JPY. The currency on the left is called the base currency, and the one on the right is the cross currency. The value of a currency pair is determined by the strength or weakness of the base currency in relation to the cross currency. The base currency value is always 1. That means when you see a quote of 1.4652 for the EUR/USD, its value means 1 Euro will buy 1.4652 dollars. The next day you may see a quote for the EUR/USD of 1.4725. If you listen to the financial news you will hear them say something along th...[Read More]

Understanding Forex Trading – How to Read an Intraday Chart

What are intraday charts? Intraday charts are those charts that have a timeframe of less than a day or 24 hours. So, a 1 minute, 5 minute, 15 minute, 30 minute, 60 minute and 240 minute charts all are intraday charts. 240 minute chart is also known as the 4 Hour chart. Reading an intraday chart is the same for these different timeframes. You can view these timeframes using a bar chart or a candlestick chart. A bar chart and a candlestick chart have some similarities and some differences. On a bar chart,the time period like the 1M, 5M, 30M, 60M or the 240M is represented with a bar. This bar will have a small horizontal bar to represent the open, high, low and close of that time period. There are some bar patterns that are considered to be very important and day traders love to trade them. ...[Read More]

What Is the Single Best Day Trading Indicator? – Shift Theory Ratios Overview and Why They Work!

As a new or seasoned trader you are likely looking for a statistical edge to give you the upper hand when trading the markets. There are hundreds of indicators on the market but the truth is only a couple indicators really work. Just about every indicator fails when it comes to back testing and analyzing price data in real-time. Obviously this is something few people are willing to talk about because there were no alternatives just a few months ago. Most indicators simply don’t work because of the way they are designed. There are two issues most technical analysis techniques have today: Signal Noise Signal Delays or Lag Signal noise is one of the biggest issues with most indicators. The reason is that they are mostly based on the closing price. The closing price changes every time a ...[Read More]

How to Make Gaps Work for You

Have you considered trading gaps in one day patterns and chart formations? If you haven’t, you are missing out in trading opportunities that, if applied correctly, can be extremely profitable. Although there are several strategies to trade one-day patterns and chart formations, this article will focus on the different types of gaps and how to profit from them. Gaps As we discussed before, there are different types of gaps. Gaps occur after the market closes and before it reopens. A gap will show in your chart with the low price at opening of the market being higher than the high price when the market closed the day before indicating a possible uptrend or, vice versa, the high price at opening being lower than the low price at market closing thus indicating a possible downtrend. These...[Read More]

Why Price Action Trading is the Best Way to Make Money in the Forex Market

Forex price action trading can be defined as trade decision making based upon chart price patterns, the patterns being created by traders simultaneous reactions, to news and world events. Price action trading, is then, a study of human emotion depicted in the Forex price charts and presented to the trader in the form of price patterns, which repeat over and over again across all time frames and all currency pairs. Before I discuss in detail why trading using price is the way you should trade Forex, I would like to discuss technical indicators. The Forex trader must understand that technical indicators are derived from price itself and as such lag the price action. This means that if you are a technical trader using exclusively indicator based strategies, then unfortunately you are more tha...[Read More]

Futures Options Price Per Day Trading

Please only use these examples for educational purposes. Paper trade them. I was doing my search for option inconsistencies and here is what I found. I am looking at how much an option costs per day compared to an option from a different month in the same futures market. I am doing the at the money options. I will buy an at the money farther month call and put and sell the at the money closer month call and put. March T-Bond futures contract closed at 117-26 (January & February options follow the March futures) Jan. T-Bond options have 22 days left until expiration. Feb. T-Bond options have 57 days left until expiration. Jan. T-Bond 118 Call options settled at 1-14 (78 ticks). Feb. T-Bond 118 Call options settled at 1-56 (120 ticks). The Feb. 118 Call is 1.5 times more expensive than T...[Read More]

Impulsive and Corrective Price Action

What is an impulsive move? We can describe it when the market is very strong moving towards one direction, covering a very large distance within a short duration of time. It is a clear indication of an imbalance between the sellers and buyers since one side tends to be more active than the other. It is clear that during impulsive moves, a lot of money is made. The risk is very low providing traders with more opportunities since the market can stretch in one direction more rapidly. However, it should be clear to us that we want to move along with the moves, not against them. Being so, there are some things we should put into consideration. This will help us know when the impulsive moves are in progress or starting. -Large candles or bodies: A clear indication that there is a strong particip...[Read More]