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A Different Type of Moving Average Cross Virtually every trader has dabbled with or experimented with some sort of moving average. What I want to introduce you to in this lesson is a different sort of moving average cross method, which I have found to be very good at identifying short term trend changes. A Little History of the Forex Market The purpose of these articles is to introduce the forex market to you. As with many markets there are many derivative of the central market such as futures, options and forwards. Angelo Reynolds Scalps in the Eurodollar Pit As a trader in the Eurodollar futures pit at the Chicago Mercantile Exchange, Angelo Reynolds cites mental toughness and courage as two of the necessary factors to successful pit trading. "I knew I always wanted to be involved in the markets," Reynolds said. Arthur Hill on Goals, Style and Strategy Before investing or trading, it is important to develop a strategy or game plan that is consistent with your goals and style. The ultimate goal is to make money (win), but there are many different methods to go about it. Beginners Trading Guidelines Successful Forex trading is a long term investment which can produce excellent returns if traded with control, discipline, patience and consistency. Your target should be to make substancial profits over the course of anything over 3 months. Being a Technical Analyst Trading is not an exact science. You can't do X and get Y every time. It is as much an art as it is anything else. There is no magic formula. Trading is all about probability. It is the art of correctly applying a set of carefully thought out rules and allocating the probability of that event to result in success. Ben Warwick's "Event Trading" Keys in on News While many traders focus either on technicals or fundamentals as they develop their trading strategies, trader Ben Warwick focuses on a market's reaction to news. Warwick has developed his own method of trading, which he calls it "event trading." Bollinger Bands Revealed Bollinger bands are an integral part of just about every charting system I have ever seen but many traders are unfamiliar with how to use them. In this lesson we will cover the basics of Bollinger bands and one particular technique which I have found to be very reliable. Building a Forex Trading System About two weeks ago I got an email from a trader explaining his trading method and asking me for some advice on how to improve on it. On the surface of it, there wasn't much to his approach but he had been trading profitably for a few years and that got me interested. Buying and Selling Currencies Trading opportunities in the forex market deserve serious consideration as a diversification strategy for your portfolio. Calculating Forex Profit and Loss For ease of use, most online trading platforms automatically calculate the P&L of a traders' open positions. However, it is useful to understand how this calculation is derived. Change Over Days - Day Trading I read somewhere that when Michael Jordan was making an advert that required him to miss the basketball hoop a number of times; he just couldn't do it, he couldn't not get the ball in the hoop. Chart Reading Basics To be profitable in today's world technology and advancement, one must be proficient and reading and more importantly understanding chart patterns and basic technical indicators. Below is just a few basic points to your understanding the technical analysis of currency chart reading. Choosing a Business Identity A rose by any other name may still be a rose, but what you name your business will affect how the market perceives you. A business name that may seem catchy or cute can often translate into something misleading or ineffective. Confidence Is Money There is no greater asset for an entrepreneur than an absolute conviction that you know what you're doing. If you don't feel sure of yourself, why should anyone else trust you? Cynthia Kase Relies on Proprietary Technical Indicators Trader and consultant Cynthia Kase relies on a series of proprietary technical indicators that has developed for her trading signals. Kase makes her trading decisions strictly based on these technical indicators and doesn't rely on fundamental analysis at all. Day-Trading: Not What You Think The day-trader is a cross between an extrovert and an introvert with both characteristics in balance. The introvert aspect is depicted by the disciplined workaholic with a reclusive concentration. The extrovert aspect is depicted by an aggressive, competitive, self-motivated individual striving to be the best in a selective profession. Developing Forex Trading Skills At some point, if they last long enough, all traders discover that successful trading is not the inevitable result of a good trading strategy or system. If all we needed was a good system or indicator we would all be successful traders. Yet clearly we are not, far from it, there are very few traders making their living consistently from the markets. Economic Indicators Affecting Forex Markets Economic indicators are snippets of financial and economic data published by various agencies of the government or private sector. These statistics, which are made public on a regularly scheduled basis, help market observers monitor the pulse of the economy. Foreign Exchange Day Trader I received an email from a prospective buyer of my online trading course. His question (below) caused me to think about the wisdom of pursuing trading as a worthy venture. Forex 101 For those unfamiliar with the term, Forex (Foreign Exchange market), refers to an international exchange market where currencies are bought and sold. Forex Basic: MACD Moving Average Convergence-Divergence (MACD) was originally constructed by Gerald Appel an analyst in New York. Originally designed for analysis of stock trends, it is now widely used in many markets. Forex Basic: Outside Days Outside days can occur frequently on daily charts. The secret of the outside day is the bigger the better and it has more meaning if found at the end of a trend. Forex Basic: Symmetrical Triangles Symmetrical chart patterns can be found in almost any market and any time frame. They normally signify some indecision in the market and as the pattern develops it is common to see a decrease in volume. Forex Basic: Two Period Reversal Pattern The two period reversal is originally taken from the 2-day reversal pattern and as the name implies this particular pattern consists of two periods. I use two periods and I apply this pattern to all securities and time frames. Forex Basic: What's a Spread? Very simply, a spread is a position in which options are bought and other options are sold. Having said that, there are dozens of ways to combine options to create simple or exotic trading positions. Forex Basics: Relative Strength Index Relative Strength Index was developed by J.Welles Wilder Jr. and introduced in his book 'New Concepts In Technical Trading Systems'. It is one of the most popular technical tools around. Forex Bid/Offer Normally when you look at your charts you only see one price and that price is the bid price. Some types of charting software are capable of displaying the offer price but most commonly the price you see is the bid price. Forex Envelopes What we are going to show here is the use of Envelopes, which form trading bands. The particular trading bands we are going to use will be based on exponential moving averages. This will help us form a method to trade. This is basically an intraday strategy, which works well on the 10min/15min time frame. Forex Multiple Time Frames Multiple time frame trading has probably done more to increase my overall profitability than any other one thing alone. The correct use of multiple time frame trading will allow you to stay in the trade longer by better identifying where you are relative to the big picture. Forex Pip Auction Game Problem Here are 4 fail-proof ways to solve the Pip Auction Game problem, and to guarantee that you're not going to play it again. You have heard this before, and it's true, but until now you still have not lived by this rule. You should never risk more for pips than they are worth. You should cut your losses short. Forex Trading Basics: Supply & Demand Fundamentals The objective of currency trading is to exchange one currency for another with the expectation that the market rate or price will change such that the currency pair you have bought has appreciated in value relative to the currency you have sold. Forex Trading Pivot Points Those of you who have been trading for a while will be familiar with Pivot Points. During this lesson I want to go over how to find a Pivot Point and also a slightly different method of using them. First let's look at how you calculate a Pivot Point. Forex Trading Psychology The key to successful Forex Trading unlike other financial markets, is knowing yourself. This does not certainly mean enlightenment of self but knowing your behavioral pattern under given circumstances. Forex Trading System Now you have decided that you are going to trade a particular security and you need to find a way of entering and exiting the market. So, how do you approach it, do you just jump in with a gut feeling or do you use some kind of system to help you make the decision. Forex Trading: A Fool's Game I received an email from a prospective buyer of my online trading course this week. His question caused me to think about the wisdom of pursuing trading as a worthy venture. Forex Trend Detection Long term profitable Forex trading warrants long term goals and objectives. One good idea is to have an excellent trend based trading system. Just having one will not really work out if you do not follow it in a disciplined manner. Forex versus Equities? If you are interested in trading currencies online, you will find that the forex market offers several advantages over equities trading. Forex vs. Futures The global foreign exchange market is the largest, most active market in the world. Trading in the forex markets takes place nearly round the clock with over $1 trillion changing hands every day. It is the main event. Fundamentals Affecting the U.S. Dollar Fundamental analysis refers to the study of the core underlying elements that influence the economy of a particular entity. It is a method of study that attempts to predict price action and market trends by analyzing economic indicators, government policy and societal factors within a business cycle framework. Fundamentals of a Trading Plan Trading the Forex market has many benefits over other financial markets, among the most important are: superior liquidity, 24hrs market, better execution, and others. Traders and investor see the Forex market as a new speculation or diversifying opportunity because of these benefits. Fundamentals of Forex Trading Trading is not an exact science. You can't do X and get Y every time. It is as much an art as it is anything else. There is no magic formula. Trading is all about probability. Gary Wagner Uses Candlesticks to Measure Sentiment Japanese candlesticks offer a "mathematical expression of psychological market sentiment" to trader Gary Wagner, who utilizes these Eastern technical indicators in conjunction with Western tools to actively trade for himself. George Angell Keys in on Volatility and Liquidity Volatility and liquidity are the two elements independent trader George Angell looks for in a market to trade. Currently, Angell exclusively trades the S&P 500 futures, putting on intraday trades only, never holding positions overnight. "Liquidity and volatility are the two things you have to have. You can't day-trade something like oats--it wouldn't work" Angell said. George Fontanills Incorporates Options to Lower Risk Trader George Fontanills first began utilizing options in order to go "delta neutral" on his futures positions, which would allow him to "still sleep well at night." Since he began using options in conjunction with his futures trading, Fontanills believes he has found a way to accelerate his profits while decreasing his risk. George Lane Still Trading Off Stochastics at Age 75 George Lane completed his 47th year of trading in December 1996 and is still going strong. After many years of trading in the grain pits in downtown Chicago, Lane has shifted to screen trading during his "retirement" in a small community about 80 miles south of Chicago. Glenn Neely Bucks Traditional Elliott Analysis Glenn Neely locks horns with traditional Elliott wave theoreticians and has developed his own approach to trading the markets, which he calls NEoWave Theory. Neely first encountered the Elliott wave theory back in the early 1980's while he was working off-shore in the oil industry. Glossary of Forex Terms and Commonly Used Expressions Forex is one of the fastest growing areas for news traders to get started. The main reason for this is the low entry level (only a few hundred dollars for mini accounts) and the fact that it is fairly straightforward to trade. Grant Noble Reads Mass Media for Contrarian Signals Futures trader and author Grant Noble looks to the mass news media in order to garner signals of major market bottoms or tops. Only, he looks to the media with a contrarian perspective. High Low Breakout Technique This technique can be used for any market that has a decent daily range. If you look at any chart, what do you see? You should see a succession of bars that are doing one of three things. How to Be a Highly Skilled Forex Trader Trading, like any endeavor, any skill, is learnt through doing. We learn through trial and error, through having experiences and evaluating and learning from those experiences; and of course, our learning is accelerated if we have the support and advice of someone who is further along the path of development. How to Be a Successful Forex Trader Just what does it really take to become a successful trader in today's markets? To answer that question adequately one must first understand the mind of a successful trader and what his/her thought processes are. Today's markets have changed dramatically just in the past few years and those changes are due to a variety of different factors. How to Choose a Forex Broker? When it comes to getting started in forex trading, there are quite a few things that you have to consider. The first thing to do is to find and choose the right broker to help you in making your trades. How to Choose an Online Forex Firm Forex is a special kind of the world financial market. Trader's purpose on the Forex to get profit as the result of foreign currencies purchase and sale. But, what to look for in an online Forex Firm: How to Lose Money on Forex I read somewhere that when Michael Jordan was making an advert that required him to miss the basketball hoop a number of times; he just couldn't do it, he couldn't not get the ball in the hoop. How to Make Consistent Forex Profits One of the mistakes I consistently made in my early years as a trader was to try to make too much money in relation to my trading capital. How to Make Consistent Profits Futures Trading The issue of direct access is an important one and it becomes more important the more short term your trading is. The market can change from a state of seeming paralysis to one of shocking volatility and activity in a flash. How To Nail The Market When Everyone Else Is Wrong Picture the scene -- you have done your an alysis and have been waiting for the breakout of a range. You might even have identified a head and shoulders or double bottom. So anyway, you have a trade all set up and you are just waiting for the move. How To Think Like A Winning Day Trader What makes the best traders successful? Are they "lucky"? Have they discovered some "secret" indicator? No. They've learned the truth about trading. Trading success is a simple as 1-2-3. Intraday Trading Tactics In this lesson I want to discuss intraday tactics that you should be aware of when you start to trade intraday. By intraday I mean very short time frames such as 1 minute, 5 minute and 15 minute charts. This will apply to traders who actively trade and probably trade frequently during the course of the day. Introduction to Technical Analysis Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician, though most will also keep a close watch on volume and open interest in futures contracts. Investment Strategies: Technical Analysis and Fundamental Analysis The two fundamental strategies in investing in Forex are Technical Analysis or Fundamental Analysis. Most small and medium sized investors in financial markets use Technical Analysis. Jake Bernstein: Psychologist Turned Trader Jake Bernstein, one of the futures industry's best-known traders, started trading "by accident" he told FWN. Bernstein was a psychologist who responded to an ad in the newspaper regarding "ag futures." A broker started calling him and Bernstein opened an account. Key to Day-Trading: Have Your 'Team' in Place Day-trading is a very serious business; if you don't have all the right ingredients in place before you begin trading, you're dead. One of the most important aspects of the day-trading business is your "team:" Larry Williams: Training Key for Trading, Running Trader and marathon runner Larry Williams sees parallels between successful trading and successful marathon running. Williams, who recently completed his sixteenth marathon run, pointed to "pain and agony" as being two of the obvious similarities between trading and long-distance running. Linda Bradfore Raschke Focuses on Technicals After spending six years trading on the floor, first at the Pacific Coast Stock Exchange and then at the Philadelphia Stock Exchange, Linda Bradford Raschke shifted gears and moved to an off-floor office in 1987. After trading her own money for several years, she moved into the money management side of the business in early 1993. Raschke, along with her partner Rick Genett, manage about $25 million. Lost in Forex Loss An email prompted me to consider the significance of taking responsibility in trading. There is a natural tendency for most people, in any area of life, to not take responsibility for results and behaviors that appear negative. We want to see ourselves in a good light and it is tempting to try to avoid responsibility for acts that we consider bad. Maintain Your Perspective Every minute more than 150 Million Dollars change hands in the electronic index futures markets like the e-mini S&P and e-mini NQ. You can win or lose thousands of dollars in a few minutes; the futures markets can make you rich in a few weeks or months or wipe out your account with no mercy. Momentum Trading One of the most basic and widely used indicators is that of momentum. Before I go on to tell you how we can use the momentum indicator to trade with, I want to explain the difference between a leading and a lagging indictor. One Simple Thing That Can Improve Your Trading I am going to share with you a simple discipline that can really help your trading. This simple little act is often ignored by new traders and overlooked by experienced traders. Persistence Pays Off for Joe Stowell According to independent trader Joe Stowell, persistence and courage are two key characteristics necessary for success in trading. Persistence certainly has paid off for Stowell, who traded part time off and on for 20 years, before leaving his job as a school teacher to trade full time. Pivot Point Trading You are going to love this lesson. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only a few simple calculations. Profitable Trades for Beginner Once you are in a profitable trade, the next challenge becomes when to take profit. Optimizing profits is the other main aim of trading, besides limiting losses. Responsibility in Forex Trading An email in response to my article prompted me to consider the significance of taking responsibility in trading. There is a natural tendency for most people, in any area of life, to not take responsibility for results and behaviours that appear negative. Rick Redmont Bases Trading on Wyckoff Theories Off-floor trader Rick Redmont gained his first experience trading stocks as a college student during the bull market of 1961. "I had $10,000, which turned into $20,000. I followed the Chartcraft point and figure book-but it didn't really matter what you bought. Should I Override the Forex Strategy? Today was a perfect day to test your discipline: We went long at 1190.00 and the reversing order was placed at 1192.25. Prices moved up to 1192.00 and reversed. One hour later we tried to reverse at 1191.00. Again prices moved up to 1190.75 and reversed. Standard Day Trading Orders To the day trader, using the right price order is just as important as using the right tool for the right job is to the mechanic or carpenter. Stopping Yourself on Forex I read on a bulletin board a traders comment that on his first outing trading the E-Mini S&P 500 he lost on each of his trades. He noted though, that had he had a wider stop each of his trades would have been profitable and that therefore he would be trading with a wider stop in future. Successful Forex Trading with Pivot Points Pivot Points are calculated on the previous days move and trades are entered when the market hits a support or resistance line of the pivot point providing your OB/OS indicator is in agreement. The "M" And "W" Trading Pattern The "M" and "W" trading pattern is a great little pattern that occurs with enough frequency for you to add it to your trading tool bag. The Basics of Currency Trading Currency, like other commodities, are traded in futures contracts. Simply, these are contracts to deliver a fixed amount of a particular currency, in a given month in the future, at a price agreed upon and paid for today. The Best Places for a First Date The first date is your opportunity to make a positive impression and in order to make a good impression you must be prepared. Perhaps the biggest decision to make beforehand is where to take your date. The Cycle Of A Trend In this lesson we are going to look at the different stages of a trend and how it can help you position yourself for a trade. It is commonly accepted that there are four stages of a trend. These stages make up a cycle and each cycle has smaller cycles contained within them. The Difference Between Cash and Futures Prices Futures are normally traded in contracts and are a legally binding agreement between a buyer and a seller. The seller must deliver the specific agreed upon asset at a future date but for the price agreed today. The Flaw In Our Emotions As humans we have a natural tendency to try and influence our surroundings and events we take part in. This is one reason as a species we have succeeded but it is also one of the fundamental flaws we all have when trying to achieve success as a trader. The Way of the Spare Room Entrepreneur Being a spare room entrepreneur is more than just a way of making a living, it is a way of living your life. It isn't an easy way to live. In the past, being in business independently was the norm, and people typically worked and lived in the same place. Tom Bierovic Uses Discretion on Top of His Rules Off floor trader Tom Bierovic, trades according to a set of rules he has developed over the years, but uses his own discretion on top of these rules. Bierovic believes he was lucky because he was introduced to the futures business at a very young age. His father was a trader at the MidAmerica Exchange and Tom would plot daily and weekly bar charts of the agricultural contracts for his allowance money. Tom DeMark Relies 100% on Market Timing Trader and consultant Tom DeMark has invented dozens of proprietary technical indicators over the years and relies strictly on the technical principles of market timing for his research and trading. In fact at one point in his career, DeMark went through the CFA program (certified financial analyst), but chose to never complete it. Types of Forex Trading Orders Placing orders correctly is probably one of the most important aspects of trading. It is vital that you understand and use the correct order when you trade. Understanding Forex Margin With more buying power, you can increase your total return on investment with less cash outlay. To be sure, trading on margin magnifies your profits and your losses. Understanding Forex Quotes Reading a foreign exchange quote may seem a bit confusing at first. However, it's really quite simple if you remember two things. Understanding Forex Trends Trend is the easiest and the most difficult thing to understand. The difficulty arises because of the time factor. Whenever we talk of trend it has to be related to the context of time. Understanding Fundamental Analysis Fundamental analysis refers to the study of the core underlying elements that influence the economy of a particular entity. It is a method of study that attempts to predict price action and market trends by analyzing economic indicators, government policy and societal factors within a business cycle framework. Understanding Major Economic Indicators When focusing exclusively on the impact that economic indicators have on price action in a particular market, the foreign exchange markets are the most challenging, and therefore, have greatest potential for profits of any market. Understanding Options Options are one of the oldest trading vehicles man has ever used. Around a 1000 B.C Aristotle Thales predicted by the stars that there would be a bumper olive harvest and bought options on the use of olive presses. Understanding Rectangles on Forex The rectangle contains price movement between two points in a rectangular shape to which we add lines to signify the upper boundary and lower boundary. These lines should be horizontal. Understanding Stochastics The foreign exchange markets move when some force makes one currency either more or less valuable than another. The cumulative purchase and sales of a currency cause it to move up or down and to become more or less valuable in relation to other currencies. Using Indicators to Identify Trends Of the many market sayings thrown around by traders, perhaps none is more overused and less understood than the old adage 'the trend is your friend'. Using Technical Indicators: Bollinger Bands & MACD A good understanding of the basic tenets of technical analysis can vastly improve one's trading skills. Using Technical Indicators: Moving Averages & Fibonacci A good understanding of the basic tenets of technical analysis can vastly improve one's trading skills.
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