Posted by
admin on July 16, 2010 |
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Forex Trading: Limit order 16/07/2010. Sell GBP/CHF @ 1.5970 , SL @ 1.6145 , TP1 @ 1.5875 TP2 @ 1.5810 TP3 @ 1.5740
The pair has been trending downwards and has made a small retracement upwards.
We want to enter the main trend which is still downwards but first wait for a confirmation the trend continues.
The entrance point is located below the last bottom the pair has made on the 4 hour chart.
More aggressive traders could try and short the pair from its current location but they should be advised the retracement upwards might continue higher and a SL of above 1.6170 is recommended for such traders.
The RSI is near 50 in neutral territory.
SL is located above the last top the pair has made yesterday and above the 100 period moving average which is likely to act as a resistance for the pair.
TP’s are located slightly above the support levels the pair has.
All analysis is based on the 4 hours chart.
Current rate: 1.6075
Tags: currency options, currency trading, daily forex analysis, Daily Forex Review, Daily reviews, daily technical analysis, forex analysis, forex platform, forex review, Forex reviews, forex robots, forex software, forex strategy, forex systems, forex trading account, fx software, fx traders, Trading Forex, Trading online
Posted by
NigelGee on September 25, 2009 |
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When you are trading in forex market there are various forex robots that are available online. But not al of them can fetch you good results. Most of them are never used in trading and are not reliable. But if you want to make your trading successful you need a automated robot system and must avoid curve fitted systems.
Most of the systems show you impressive statistics which shows that about 95% traders use this system. But in reality all this holds no importance and is worthless.
They carry the following disclaimer.
“There are certain limitations to the stimulated performance. The stimulated results are not actual representation of actual trading. For that we have actual performance record. Due to certain market factors like liquidity the results may cover the impact. With the benefit of hindsight the stimulated trading program is designed. And chances that any account will make similar results of profit and losses shown are also not represented”.
Most of the online trading program bears this disclaimer. And you face the problem.
They create the track record with the help of past data and it is very easy to do so.
As we cannot predict the future value it is very difficult to predict the trend and hence making money in this business.
What most of the online seller of these programs does is that they get the past data and then they fix the curves according to that data. It is as similar as hitting any where blindly and then marking it as the target.
In real time trading no two portion of time repeats itself in the similar manner. And since these programs are designed to fit the curve of the data they lead to complete failure of the trading in the real business.
These systems are just designed on the hypothetical standards and hold no real value that’s the reason why the vendor is selling the forex robot to you and using himself when the system has 95% usage record. The reason for such act is that he is just selling it for money. As it attracts more people towards it he will earn more from the subscription fee. And mostly the seller is not a trader but can be a business corporate.
If you are searching for a forex robot to make good handsome profits then have a look here.
As we have talked a lot about the stimulated records so just be careful about it while finding a robot for you rather then finding the reason for your failure afterwards. So you should search well in advance and go through all that is available in the forex market before making any decision.
You can have a great career in forex world if you are up with adequate and accurate knowledge about the forex market. So in order to make good money you should first make good study.
For those who think only buying a forex trading system can get him good results something that is waiting for them is only failure.
Tags: Forex Trading, fx trade, fx traders, Trading online
Posted by
BettyBoop on September 11, 2009 |
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In Forex trading, scalp trading is one of the most useful techniques that can help you make a lot of money within a short period of time. With the scalp trading strategy, you can get a fast result without abandoning your high profit potentials. Both the novice and experienced Forex traders use the scalp trading technique on specific markets, specifically in the markets having a very high leverage and low volatility.
In Forex trading, there are many scalp traders who mainly focus on the small movements that frequently occur in the Forex market. Their main objective is to exploit the small changes in market liquidity so that they can gain huge profit at a later period. Here, the traders are not much concerned about the nature of the market, or whether the prices are trending or ranging. However, they give great importance to volatility of the market. They actually aim to identify the cases where temporary shortages of the Forex market liquidity create imbalances and thus create trade opportunities.
Scalp trading is actually doing very high leverage trade at low volatility market. It also compensates the risk that comes with the high pip value with tight stop loss and limit orders. However, you should remember that scalp trading is not about randomly entering the market and buying or selling. You have to be very methodical about both your decisions and expectations from the market. Your main objective should be to combine various unique features of the Forex market so that you can create profitable conditions for trading.
Liquidity of the Forex market is a factor that can sometimes limit the benefits of scalp trading. Generally, each product in the market has a different spread because of popularity differentials. The liquidity of the markets and the products determines how tight the spread will be. The scalp traders usually like to trade in a more liquid market, as they can make numerous trades in a day to add up their small profits. In case they have to trade in less liquid markets, they will have to cover their risks by widening their bid and ask prices. Scalping is actually the combination of exploiting economic events, price trends, market events, and the basic structure and internal dynamics of the currency market itself.
However, there is a big problem involved with scalp trading in Forex market. You may sometimes find that you cannot make even a single trade in the market. And, you might also lose more than you could make, if you do not find the strength to restrain yourself. There are many scalp traders who have lost their money in long term period, for this reason. However, using a Forex scalper robot is the best solution to this problem.
Tags: Forex Online, Forex Trading, Trading Forex, Trading online
