Posted on June 5th, 2009 by admin
When you are new to the forex day trading market, you will likely be told that you should learn in-depth technical anaylsis if you plan to have any success with your trading. Perhaps you have visited forums online or bought recommended books on forex strategies. You have heard that only 5% of forex traders are successful, and you still think that you can be one of the successful ones.
As you start learning, all the technica jargon becomes like a foreign language.You think maybe you need a degree in calculus or statistics to understand it all. You question, “Are there any simple forex strategies that work? “ Intuitively you know that trading forex does not have to be as complicated as it sounds in the “textbook” analytical trading courses. You just want to find some easy strategies explained in simple terms, so you can start applying them and profiting from them right away!
If you have had these thoughts, I can certainly relate. I considered the same questions, when I was only just about 3 into my own trading experience. So what is the answer? Are there any simple forex strategies that actually work? Yes, absolutely. In fact, an effective forex strategy involves just 4 things.
- Determining when to enter the market.
- Determining where to set your stop loss.
- Determining when to exit the market.
- The parameters set for 1, 2, and 3 above must return a profit over time!
A good forex strategy will use some level of analysis to make the above decisions about how to trade. That’s it. It does not have to be considering 10 different technical indicators. Sometimes the analysis can be based simply on price action patterns. And in fact, price action trading methods are some of the most simple forex strategies and the most effective.
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Posted on May 30th, 2009 by admin
Forex trading is a very profitable opportunity, but on another side, it will give you disaster. In this article I will describe few forex trading tips you must know, so you will get the profit and avoided from disaster. Moreover, you can use forex for your great life, because in the fact that you are trading currencies and that there aren’t as many rules and regulations that will stop you from making a lot of money.
With this forex trading tips, I hope you’ll know how to have a slight advantage when it comes to trading currencies. The first thing you need to do in order to be successful in this business is to know your forex trading market. Be sure you know about the currencies that you want to trade. If you know more about the currency you’re trading, the better off you’ll be, because you’ll know what to do and when to do it.
The second thing you need to do is to select a forex trading system. Smart traders in the forex business will tell you that having a system means everything. Having a forex system will help you automate things. So, be sure you set up a system and fix with it.
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Posted on May 15th, 2009 by admin
EUR/USD
It is more likely to go up to around 1.3730 or even higher, after that, it is potentially to go down to around 1.36.
(Current Price: 1.3626)
GBP/USD
It is more likely to go up to around 1.5350 or even 1.54, after that, it is potentially to go down to 1.52 area.
(Current Price: 1.5217)
AUD/USD
It is more likely to go up to around 0.7730, after that, it is potentially to go down
(Current Price: 0.7599)
USD/JPY
It is more likely to go up to around 97 or higher
(Current Price: 96.05)
USD/CHF
It is more likely to go down to 1.1000 or lower.
(Current Price: 1.1049)
Filed under: Forex Signal and Analysis | No Comments »