Forex Platform Trading

Archive for the ‘Forex Charting’ Category

I am looking for a mentor to help me out with Forex Trading. I mentor others in stock and option investments and am curious about forex but need some help to learn. PLEASE DO NOT reply with trading robots, I will report you as spam!!!! I am tired of the ads on here and am looking for legitimate help with transactions and charting. Anyone willing to help a fellow trader?

I’ve been trading for 4 years. The thing I can tell you for sure is that you don’t want to get involved in FOREX unless you have cash to lose. The reason I say that isn’t because you are guaranteed to lose money long term but you are sure to short term, while you are learning. I can go over the differences of FOREX to the stock market and the very important differences if you’d like.

You are so right about bots..NONE of them work. Sure, some can work short term but the problem for the programmers is that the FOREX market is so liquid that the market never stays the same for very long. A strategy that works solid for 6 months on a currency pair can suddenly throw off bad trade after bad trade. You definitely need a human at the helm.

My handle on FOREXTSD (The best forex forum) is CycleSurfer.

I don’t know what strategy you are planning to learn about or what time frame but here’s a look at one strategy that can be profitable in FOREX:

Tags: united states currency, brazil currency, currency symbols, foreign exchange student, currency code, currency exchange chicago, forex currency trading

A day is a 24 hour period, whether trading stops or not. There have been hourly charts and 1-minute charts for years. Whatever period a trader finds useful.

Forex needs a cutoff each day for accounting and interest adjustments. This means 5PM New York time because 5PM is the end of the banks and New York is the last currency trading center to be open. The day starts at the international date line and the first banking center is Sidney, then the Asian banks and then European banks open.

Tags: mexican currency, currency rate, forex, forex charts, forex enterprise, foreign exchange rate, currency translator

A day is a 24 hour period, whether trading stops or not. There have been hourly charts and 1-minute charts for years. Whatever period a trader finds useful.

Forex needs a cutoff each day for accounting and interest adjustments. This means 5PM New York time because 5PM is the end of the banks and New York is the last currency trading center to be open. The day starts at the international date line and the first banking center is Sidney, then the Asian banks and then European banks open.

Tags: foreign exchange trading, forex trading strategy, turkish currency, china currency, italian currency, forex trader, foreign currency conversion

please advise me about the best charting software in forex based on your experienc.

the softaware should be capale of getting updated from online resources and be accurate as possible.

Using the Mtpredictor’s technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we’ll straight away post the signals here in real-time if there’s any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That’s why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..

Tags: canadian currency, currency translation, forex system, forex trader, forex trading signals, forex strategies, foreign exchange rates

I have done all my research, read the countless number of web pages about Forex trading, visited the forums, looked at the blogs - basically ready to go full steam ahead. I have a pretty good trading bank in place but I need to know from you out there, which website/course organisation to hook up with. One condition is that the website offers me real-time streaming charts!

Any serious advice on this matter would be greatly appreciated…… thanks…..

I use FXCM. Great educational center tons of free stuff and online courses for beginners. 1st course is $20. Free webinars every evening. Get a demo account 1st to see if you like them

Crawl, Walk, Run. Sen. Clay Davis - The Wire

Tags: currency exhange, foreign exchange rate, brazilian currency, managed forex, currency conversion rate, forex news, currency exchange

Hello Everyone,

I made a trade on GBP/USD today on 1 hr chart..However I am just about to be stopped out..

The details of the trade are present on

http://the-forex-trading.blogspot.com

Can you please tell what is wrong in my technical analysis?

Thanks

I think I’m understanding you correctly that you are short, right? You did this essentially at the lows today, correct?

RSI and MACD are both showing positive divergence, and had already begun to turn up before that steep decline.

You are reacting, not anticipating. For example, the .618 Fib level is the place to go short, not reference three days later after a 150 pip decline.

A 200 MA is a refernce point, not a support or resistance level.

MACD and RSI are both Momentum indicators. They cannot be used to confirm each other. Pick one, but do not call this two reasons. They both show the same thing in different ways.

You will learn also to never, ever trade on a hard drop like that. I had to develop my own rule, that I’ve never seen anywhere else "Never trade on long bars." These are exhaustion bars, or at the very least, places the market will pause. Wait until the market resumes after one of these shakeouts. Trade the retracement in the direction of the trend, and you lower your risk considerably.

In this case, if you would have entered short off of the first bounce, with a stop outside the top of this small rally (stop above your second yellow horizontal line — .50 Fib?), you would have taken a very small hit, probably one-third of what you are now looking at losing. But instead, when you trade a long bar, where do you put your stop, except a mile away. Huge risk! Why accept that kind of risk. Look for low risk trades, not huge risk.

Out of all of the signals you’ve given, you don’t seem to recognize that these are the points at which the trade is intiated. If you’re going to use a 200MA as a trading signal, then trade there, not 60 pips later. Or trade it the second time it bounced off of it and failed there.

If you are going to draw a Fib line, and it bounces off, then trade! That IS the trade. Or trade the next retracement and breakdown of support. Where does it say to wait several hours?

The other problem is that you picked the strongest pair of the bunch to go short.

It’s like trading with the trend. You’re only short in Downtrends. But what is the trend here? Depends on the timeframe, doesn’t it?

Same thing when picking the pair to trade. Short the weak ones, not the strong ones.

Yet another problem is that you traded a news event, without recognizing that each cause or effect produces different results. Britain came out with some disappointing news last night, causing a 100 pip decline by morning. If you’re going to trade the news, in the direction of the news, then you should trade at the "time" of the news, not several hours later after a 100 pip decline.

If you look back at all of the news releases, whether currencies or stock market, 90% of them are a simple blip on the screen, affecting nothing except in the very short term, incredibly insignificant, then the market resumes whatever it was doing. If you’re going to jump into the middle of a situation, you better know the rules of the situation, what the signs of the situation being over are, and what the severity of the cause of the situation was.

The little squiggly lines only help us evaluate and interpret all of this, and do not stand alone in a void. You seem to have little understanding of what is behind those squiggly lines, and the stark horizontal ones, or what to do when.

Tags: currency symbol, currency exchange rates, online forex, foreign currency converter, korean currency, currency values, automated forex trading

What is a good online ForEx broker who executes trades quickly, has real-time charting and low (or no) commissions? I see myriads of sites out there. Are any above and beyond the others?

There are plenty of decent brokers. You should start by asking yourself a few questions and then use your answers to narrow down the broker.

1) How large of an account. If you plan on trading more than 100k you will want to use a broker with better liquidity. The larger your account the more important "broker financial stability" will be because if that broker goes out of business you risk losing some or all of your money held there.

2) What trading strategy are you planning on using? If plan to scalp you will need to choose a broker who does not restrict scalping or place minimum time limits on positions. If you plan on trading a carry trade system you will need to research the brokers swap(rollover) rate and find the most competitive broker.

3) What currency pairs do you expect to trade? Depending on a brokers liquidity sources the broker may have better or worse spreads on different pairs. (MB for instance usually always beats Dukascopy’s GBP pair spreads but Dukascopy usually has much better CHF pair spreads).

4) ECN/STP vs. Market Maker. I won’t get into much detail here because I don’t have that much time or room…. but both broker types have their advantages and disadvantages. You will want to decide which type of broker fits your situation best.

5) Fixed spread vs. Variable spread. Do you mainly stick to high-volume market times for your trading or do you get signals around the clock. A fixed spread broker may be better if you trade asia or off market times while a variable could save you money if you stick to London and early New York.

6) Metatrader or other platform. Metatrader is the most common but there are plenty of others. Open a few demo accounts with different brokers to get a feel for the different platforms. Choose the one that fits your style best.

Tags: currency exchange chicago, money currency, china currency, currency conversions, learn forex, forex factory, japanese currency

http://ForexSoftware.TV ◄ Forex Software :: eToro :: Forex Charts :: forex demo

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Tags: currency symbol, currency market, forex alert, currency converter, forex factory, foreign exchange students, forex trade signals

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Forex Strategies on Daily Charts EURUSD Inside Day setup

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Tags: italian currency, new zealand currency, american currency, foreign exchange trading, currency conversion chart, foreign currency conversion, currency market

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http://www.informedtrades.com/
The fourth lesson in a series on technical analysis for day traders of the forex, futures, and stock markets.

The tool of the day trader when analyzing the forex, futures, or stock markets is the price chart. Very simply a price chart is a chart showing the movement of the price of a financial instrument over a chosen time.

Most charts will allow a wide variety of time frames to be displayed and the time frame that day traders choose to use varies widely and depends on each traders trading style. In general, longer term traders will focus on daily time frames and above, and shorter term traders will focus on intraday charts such as hourly or 15 minute charts. Many traders will also use a combination of time frames in order to get a full picture of what price has been doing by, for instance, looking first at a longer term daily chart, then moving to an hourly chart, and then finally to a 15 minute chart.

Duration : 0:5:47

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Tags: foreign exchange students, forex trade, forex rates, currency translator, xe currency converter, forex market, spain currency

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