We hear a lot about the advantages of reading expert advisor reviews before you invest in one, but can you actually trust them? There are so many different types of robots and different types of Forex traders, that even if an EA or expert advisor has the best reviews in the world, it still might not work for every individual. That might be a surprising statement. You can probably imagine…
Forex Day Trading
The Forex trade is the best known of all day trading, but it definitely isn’t the only commodity swing trading that occurs. While most people are familiar with the stock markets, many people not involved with trading are not aware of the other markets available to day traders, some which are even more widely traded than the stock market. For example, Forex trade occurs at a rate of over $2…
How to Make Your Own Forex Pivot Point Calculator
How to Make Your Own Forex Pivot Point Calculator A Microsoft Excel spreadsheet lends itself very easily to creating your own pivot point calculator or if you wish you can download a free copy of the one I use listed in the resource box below. The Formula The formula for creating pivot points is based on 4 figures you need to obtain from your Forex charting software. You just need…
Using Technical Analysis to make FX Profits
What is Technical Analysis? In essence, it’s the study of price action to identify trends – spotting repetitive chart patterns that can be traded for profits. Forex chart patterns repeat themselves – as they reflect human psychology, which is constant. Many traders think that simply studying Forex charts can’t work – because it doesn’t take into account the supply and demand situation – but it does actually work. A simple…
Understanding Standard Deviation in Forex to make Bigger Profits
In forex trading the vast majority of novice forex traders don’t understand the concept of standard deviation, but they should – as it is essential Forex education and will lead you to bigger profits. You will gain greater insight into price movements and how to trade these currency trends for profit. Let’s look at the concept of standard deviation and how it can help you in your forex trading strategy….
Combine indicators into a simple robust Forex trading strategy
Here we will look at some of the best Forex Trading indicators and how you can combine them into a simple robust Forex trading strategy for long term gains. No single Forex trading indicator works all the time by itself and the way you combine them is essential. Many traders make the mistake of thinking the more indicators they combine the better – Wrong! If you do this the system…
Practical Uses of Technical Analysis for Forex Trading
When Trading Forex, one of the main cornerstones of your trading system will be a method or technique that helps you select the entry and exit points of all your trades. To achieve this, many newbies resort to listening to hunches or tips from so-called Forex gurus whilst others follow price alerts provided by the financial media or their Forex brokers. However, if you adopt any of these approaches, you…
An Introduction to Technical Analysis in Forex trading
There are two types of analysis used in Forex trading, fundamental analysis and technical analysis. Fundamental analysis examines current political and economic events in order to predict movements in currencies, while technical analysis uses historical economic data to predict movements in the Forex market. There are three underlying assumptions to technical analysis: 1. Movements in price are the result of a combination of all the forces is in the market….
Truly Understanding and Applying Risk Controls in Forex
Here’s the best piece of advice I could ever give an aspiring trader: In trading any kind of financial instrument, once you actually enter a trade you are now totally and 100% at the mercy of the market. You have no control over what price does next. You don’t know what price is going to do next and anybody who tells you otherwise is kidding themselves and should be avoided…
Forex Trading Money Management
In this article, I will be focusing on the importance of money management in Forex trading. Successful Forex traders have a larger edge and better money management than unsuccessful Forex traders. After observing hundreds of amateur Forex traders, I began to discover that their failures can be explained almost exclusively by their poor money management practices. When trading, the importance of money management is underestimated by a lot of Forex…