Forex Day trading With Multiple Timeframe Analysis

AppId is over the quota
AppId is over the quota

It is not uncommon to see people new to the business of trading try to utilise 5 minute charts and experience numerous losses in the process of doing so.  This is not to say that trading higher timeframe charts is a simple path to success  – because it is not. Higher timeframe charts do however remove some of the noise which is exacerbated when trading with the lower timeframe Forex charts.   A 20 pip stop loss can be hit in seconds during major event risk or even on interaction with a technical level.

Does this mean that lower timeframe Forex trading is an exercise in futility?  I would say this is not the case but an awareness of the bigger picture is essential.  This post will look at a top down analysis piece which culminated in a trade on the 5 minute timeframe charts.  As you will see there was a lot of thought going into the setup and it was not limited to the 5 minute chart in isolation

This trade was on the GBPUSD currency pair.  Our weekly GBPUSD analysis brought to light the following information re the pound/dollar major.

Price was trading just above the psychological 1.6000 GBPUSD handle.Commitment of traders COT report data showed the pound was relatively robust in terms of non-commercial (large speculators) positioning.Price was moving into a confluence area of potential support on the higher timeframe charts.

Now you may see this as irrelevant, when looking to trade intra-day on the lower timeframe, but it tells us there is a chance the bigger traders will be looking for GBPUSD longs as the new week begins.  At the very least it shows us that the market is not “overtly” bearish on the pound.

Further to this we have a gap down on EURUSD and the dollar index gaps higher.  The gap was still open as the Frankfurt/London Open session begins  and some traders may be looking to initiate a gap trade play.  This information is noted down before the trading day begins.

So the top down analysis had shown that price did not close below support. If the bears are trapped in a net breakeven or worse trade and do not see further downside they may need to liquidate positions. Even if they have a profit on the table and see price stalling at support they may become nervous and take a profit before the London open.

All of the above is supplementary information compared with the last piece of the puzzle.  As the Frankfurt and London markets open cable tests double bottom area support following a strong 5 minute bearish candle (see price action within the red circle above). 

The next candle (prior to the trigger candle) is hinting that price my be running out of bearish momentum with the small wick below.  This is not really a strong signal on its own though.  The next candle was my trigger to go long.  A 5-minute bullish engulfing candle at the double bottom area.  A 5 minute trade signal like this is not uncommon but the time (liquidity hitting the market at European open) and location (price structure support) made it stand out in my eyes. 

I was already aware that there was not event risk due and had checked the financial calendar schedule.  The spread was checked before trade initiation to make sure it was acceptable.  The exit was at the horizontal dotted black line above.  Traders differ in this area (profit taking) but I prefer to grab a quick profit and minimise risk.

The trade lasted around 10 minutes and went smoothly to the target (it does not always work out so well… trust me).  If price had of hesitated at the down sloping trend line a decision would have need to be made regarding potentially closing out early.  

Hopefully this gives an insight into the preparation that goes into a trade idea.  Do not go out and try to replicate this.  The post is purely for commentary purposes only and not a recommendation on how to trade.  Take care out there.

Related posts:

App Store From FXCMDollar Index Analysis 16th May 2012Dollar Index Technical Analysis 15/5/2012Forex Broker Articles – What is easy-forex?Gold Technical Analysis Update 12th May

View the original article here

Forex broker forex articles-easy?

The following article is from the easy forex broker services as provided to you by a trader ® foreign exchange provides an overview.  You can also review our easy to follow Forex broker reporting links trading platform looks at the ins.

Easy forex in articles?

Easy-Forex ® was founded in 2003 and has over 160 countries since its trading currency, a pioneer in online currency trading group revolutionised

Forex trading is a professional trader and institutional foreign exchange trading the previous restrictions but we charge (forex) personal
The cost of the item from just USD 25 USD 10,000 for lowering is simple and easy-to-use Web-based trading platform developed by individual merchants.

More than ever, private Forex, gold, oil, online forex trading is easy. One of the easy forex account, as a trader
Currency and from any location on their Web, desktop or mobile platform, you can use the commodity trading. We have more than 40 currency pairs, as available for trading
As well as gold, oil and commodities.

Our Web trading platform through trade, our own desktop platform or you can download the easy-forex trading, or even your Smartphone mobile ®-MT4 trade in!

Why choose our easy-forex trading for a few reasons:

How to calculate a unique simple margin of loss of their accountGuaranteed-Risktight fixed stop preparing, you can never lose more than that, you are sure to spread our Easy Forex platform to take advantage of all of the available balance, or deposit and withdrawal transactions set speed getNo fee feesFast and security deposits and withdrawals in Nigeria in conditions of strict regulations and serviceWe United States license to speed.In Europe, in Australia by CySec and ASIC. These are the regulatory agencies to monitor the activities of foreign exchange brokers and retail customers, the goal is to protect their customers ‘ personal account manager, every guide and their needs and experiences of dedicated one-to-one basis depending on the level of education. We have 40 or more video-on-demand to improve your trading strategy Forex trading explained everything from the basics of a wide range of learning, which includes sections on our website.

Gold, Platinum, or VIP account, open the client also includes personal support and exclusive tools to the next level by looking for their dealings in our trading room for traders to get access to the service.
Click here to start trading.

Related posts:

Forex trading TypesPFGBEST Forex broker Forex broker with multiple periods of AnalysisOnline FX Bridge technologies options trading licenses

View the original article here

Online Forex Broker Types

AppId is over the quota
AppId is over the quota

Its not always a case of one forex broker fits all requirements; the kind of online forex broker you choose to sign up with can have a large affect on your trading results.  If you trade over a short duration of time a large spread could render some trading strategies as useless.  Maybe you see the benefits of spread betting but plan on holding trades for weeks on end..this would potentially result in rollover charges which were unacceptable.

Retail traders are not able to utilize the interbank market as they don’t have the required credit facilities with the top Tier banks.  There are however different types of forex broker available which provide inherent benefits and drawbacks.  When it comes to forex brokers; the back office systems they use and precisely how the broker executes the trades they are given carries a substantial influence on how “fit for purpose” they are for the traders using them.  The trade execution speed, transaction fees and spreads on the various currency pairs are all important.

Online forex brokers come in three main categories which we will cover in this article.  Each category has noticeably different methods of working with client orders.

ECN brokers do not have associated dealing desks as they are software driven.  Forex market buyers and sellers are able to transact via the electronic platform provided. This kind of platform is historically associated with institutions or the bigger individual traders. ECN brokers operate in a  similar way to Tier 2 bank.  The ECN broker passes through the available quotes from associated banks for clients to trade.  ECN providers quite often offer lower leverage which means the trader has to tie up more capital in order to trade any size which is potentially a negative factor for many. There is also often no facility for more granular position sizing as only full lot transactions are allowed. These kinds of trading accounts are often said to provide very tight spreads with very fast execution; one can obtain forex spreads as low as to 0.5-1 pips for majors. ECN accounts do not have anti-scalping rules like some of the other accounts do. They do however charge commissions which is potentially a negative factor, or not, depending on your account size.

The most common type of online forex broker out there is known as the market maker. Market makers take the opposite side of any trades that are given to them. When a trader loses money the market maker stands to take that money.  This kind of online forex broker nonetheless gains a certain fee even when you win which is called the spread.  The business model of a market maker is to have enough buy and sell wagers running through their books so they  can make money from the spread with minimized risk exposure. If a market maker receives a large bet they pass this off to another 3rd party and balance the books somewhat.  The average trader will use this kind of service as the spreads are nowadays quite competitive.

Forex brokers who employ this system operate directly with liquidity providers.  No dealing desk brokers function by obtaining the most suitable quotes from a number of diverse liquidity providers. These are typically financial institutions like banks. These no dealing desk brokers execute trades through the different channels they have available to them. This is what allows them to be brokers and what provides these no dealing desk brokers the liquidity to trade. Market speculators utilizing this system have access to instantly executable exchange rates.  These online brokers typically charge commission on a per trade basis or add to the the spread they receive from other market makers.

Related posts:

What is ZuluTrade ?Forex Broker Articles – What is easy-forex?PFGBEST Forex Broker LICENSES FX BRIDGE TECHNOLOGY FOR OPTIONS TRADING

View the original article here

Trading Forex with Signals – A Social Network Way of Thinking

The Forex Industry has and continues to undergo fundamental changes in 2012. With significant market instability since the recession of 2008+, traders have been forced to become more aware of current affairs and events. Whilst at the same time more astute in understanding the benefits and features of the growing number of Forex Brokers.

2012 is set to be cemented as the year where Social & Apps become one in all verticals. In Forex this is especially pertinent since traditionally interaction and engagement between traders was a taboo subject. Today we see the openness and willingness of traders to share strategies and participate in open discussion on events that can lead to smart trading.

One area where recent technical developments have matured is Forex Signals for long time, signals were frowned upon as untrustworthy and created by opportunists aiming to make their profit from selling a product while their customers lose their money on the markets.

In 2012 we’re seeing a natural move from traditional signal providers being replaced by user generated and transparent social forex signals . A great example of this is the recent (re)launch of ForexGlobes, which pits itself as the first true “Social Forex Signal Platform” The first generation of their platform soft launched last year although after positive feedback was taken off-line while fundamental re-development took place. This month it re-emerged as a total social experience. Signals are only provided by the community, and the platform is open to all traders regardless of level or current choice of broker. The intention appears to be 100% transparence coupled with 100% independence from trading activity.

As a truly social platform the success of individuals is dependent upon the success of the group. Every trader is able to publish signals and a ‘reputation’ score is continuously recalculated allowing new members to easily see which trader should be followed and trades copied for the best chance of success.

Forex trading has become an honest and accepted investment strategy and tool for both institutional and private investors. However it has taken some time for the market to mature and companies to emerge willing and able to provide traders with real tools to help them make money. With social platforms entering the market the face of Forex has changed irrevocably, the power and demand for transparency is with the client.

For the first time there now exists a trading signals community. Engagement, exchange and discussion of Forex trading strategies can now be leveraged to allow you to realize the opportunities claimed by brokers.

Tags: Business, Commodities and Futures, Foreign exchange market, forex, forex globes, ForexSignals, Investing, social forex signals, Trade, Trader (finance)

View the original article here

A collection of EA can trade Forex, oil, gold and a host of other contracts

Many forex trader know just not this fact that they can other instruments and contracts of their platform metatrader used to trade forex trading. You can trade oil, gold, silver, stock indices, and even stocks of most of these platforms metatrader.
Just right click on the window market watch where the currency pairs are displayed and it will show you the list of other conventions which the MT4 Platform can be traded. As a trader, you should know that that chance keeps on shifting from one market to another.
This shift in the opportunity gives you the chance for timining market. Market timing means that you spot a trend in the market to develop. You place yourself for taking advantage of that trend. You are driving the trend to profit as much as possible and get out before it leaves become.
Now, gold is in an unprecedented bull market. Gold prices are at their historical high. Hgh are gold prices driven by the abuse and humiliation of the fiat currency that is going on there. People are afraid that fiat currency is losing value. After all, it’s just a piece of paper only supported with your own confidence in purchasing power.
So, those are the factors that are driving gold prices higher and higher. Some expert predict gold prices doubling $ 1,200 per ounce to around 2,500 dollars per ounce in the next six months. This is a historic opportunity. You must think gold along with forex trading.
Gold is also known as Anti-Dollar. Both have a strong negative correlation. When gold prices go high, Dollar is weak and when Dollar gets strong, gold prices crash. This is the way that it is. You can cover this fact both your positions in the gold market, as well as the currency market.
You can trade along with USDCHF pair XAUUSD. XAU is the symbol of gold. So essentially trade gold against Dollar is similar to the trade in another currency against the Dollar.
Now, you can also trade the same crude oil from th MT4 platform. There are currency pairs that have strong correlations with oil, such as the Canadian Dollar which has a strong correlation with oil. Whatever, now, oil prices have fallen, but once the world economy from the downturn comes, oil prices go climbing again. Some experts say that oil prices could reach as high as $ 200 per barrel. Whatever, with the dwindling supplies of crude oil under the Earth, the days of cheap oil are over.
As a trader, you would need to manage these three markets, gold, oil and forex trading. Now, good news, if you are forex trade, you can easily begin trade gold and oil. There are traders who expert advisors who can trade these markets have developed.
John Campbell lives in Malta and is a full-time professional gold, oil and forex trader plus a system developer, who is an Expert Advisor-collection can trade forex, gold, oil and a host of other contracts that stock indices as well as raw materials includes has developed. You should take a look at his EA collection.

A collection of EA, the oil, gold, foreign exchange and a variety of orders, the trade

Many Forex traders simply not know this fact, that they can trade, other instruments and contracts with their MetaTrader platform that they use to Forex trading. You can trade oil, gold, silver, stock indices, and even shares most of these MetaTrader platforms.

You right where the currency pairs are displayed click on the market watch window, and it will show you the list of the other treaties, which can be traded from the MT4 platform. As a trader, you should know that this opportunity to from one market to another move holds.

This shift in the opportunity offers you the possibility for market how. Market timing means that you have a trend of development in the market on the ground. You position yourself for the benefit of this trend. Driving to get the trend, you will benefit as much as possible and out before it is too late.

Gold is now in an unprecedented bull market. Gold prices are their historical high. Gold prices are driven hgh by the abuse and humiliation of the Fiat currency, which already. People are afraid that Fiat will lose currency value. Finally it is secured only with your own confidence in its purchasing power only one piece of paper.

So, are the factors which higher and higher gold prices. Some experts are predicting gold prices double from $1200 per ounce to around $2,500 per ounce in the next six months. This is a historic opportunity. You should think about gold along with Forex trading.

Gold is also known as anti-dollars. Both have a strong negative correlation. If the price of gold go up, dollar will crash weak and get dollar strong, gold prices. This is the way how, that is it. You can both your positions in the gold market as well as the foreign exchange market to hedge this fact.

You can trade a USDCHF few together with XAUUSD. XAU is the symbol of gold. So in major gold trade against dollar, dollar is similar to all other trading currency.

Now you can trade even crude oil from th of same MT4 platform. There are currency pairs with strong correlations with oil like the Canadian dollar, which has a strong correlation with oil. Whatever, right now, oil prices fall which but, as soon as the world economy out of recession, oil prices will rise again. Some experts say that the price of oil can reach as high as $200 a barrel. What, gone with the dwindling supplies of crude oil under the ground, the days of cheap oil.

As a trader, you should master these three markets, gold, oil and Forex trading. Well, good news, if you have traded Forex, easily you begin trading with gold and oil. There are dealers that expert advisors have developed that these markets can be.

John Campbell lives in Malta, and is a professional full time-gold, oil and Forex trader and a system developer who expert collection has developed one Advisor, which can trade gold, oil, Forex and a variety of other contracts, equity indices, as well as contains raw materials. You should take a look at his collection of EA.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Commodity Futures Trading And Forex Trading – How Fortunes Are Made Today!

Many people are hooked to forex trading after the crash of the stock market in 2008. Infact in the last decade, many people become millionaires trading forex. It is being said that in this decade forex trading will create many more millionaires. Traders and investors are turning towards forex in droves. The opening of the retail forex market has been the most revolutionary development of the last decade.

Now, any small investor can start trading forex by opening a forex trading account with as little as $250. Retail forex market is experiencing unprecedented growth. This growth in the retail forex market is infact explosive. It is expected that this explosive growth in the retail forex market will continue in this decade. Spot forex trading is the name of the game.

But have you ever thought of Commodity Futures Trading? The money making potential of forex trading and commodity futures trading is staggering. Many fortunes have been made in the last few decades by ordinary traders trading these markets. Let me quote a few examples:

1. Bruce Kovner-He was a former NYC Taxi Cab driver who turned his $3,000 into $11 Billion in a few decades when he started trading forex and futures in 1977.

2. John Henry turned $16,000 into $1.3 Billion trading commodity futures. Now, he owns the Boston Red Sox, Fenway Part etc.

3. Ed Seykota turned his $5,000 into $15 Million in just under 12 years.

4. Richard Dennis is one of the trading legends who started with only $400 and turned that into $200 Million in the next decade.

Whatever, there are many more examples that can be quoted of ordinary people turning into millionaires and even billionaires trading forex and commodity futures.

Now, the futures market is a highly regulated market unlike the spot forex market that is unregulated and uncentralized. Futures trading is done through a Central Clearing House that makes it a regulated market with a better price discovery and better trade executions as compared to the spot forex market. You can trade many futures contracts that includes forex futures, commodity futures and a host of other contracts. You can trade dozens of commodity futures contracts that includes the agriculture commodity futures.

Right now, the gold market is in a bullish mood. Gold prices are hovering around $1,200 per ounce. It is being said that within the next year, gold prices can go as high as $2,500 per ounce. The same thing is happening to the silver market. Silver has six times more potential to skyrocket as compared to gold. Agriculture commodities like soybean, coffee, corn, cotton etc are in hot demand all over the world.

It is being said that the commodity market will be in a boom for many decades in the first part of the 21st century. This boom will be fueled by the rising population all over the world that would naturally yearn for these commodities to satisfy their demand for a better living.As the supply of these commodities is limited, the world will experience unprecedented commodity prices in the near future. Think about the oil prices reaching as high as $200 per barrel in the next few years.

Oil is one of the most heavily traded commodities in the world. Now, you can spot trade oil and gold from the same forex broker platform. Whatever, if you know spot forex trading, you can easily master commodity futures market. The basics are the same. There might be some difference in the details but the same technical indicators work in both the markets and the same theory behind price action works in both the markets.

Combining forex with commodity futures trading can make you a fortune in this decade. This is you chance to make your fortune now just like RIchard Dennis. Remember, he was also once upon a time a small time trader who had started with only $400. Don’t hesitate, you chance to make a fortune is standing in front of you!

You can trade in oil, gold, foreign exchange and other contracts, EA collection

Many Forex traders can use other Forex trading to trade agreements from the MetaTrader platform this fact simply don’t know. Stocks from the majority of oil you can trade, gold, silver, stock indexes, and these MetaTrader platform.
Just click in the market watch window displays the right currency pair and the displayed list of contracts can be traded from the MT4 platform and other. As a trader, from one to another market shift to keep should know this opportunity.
On this occasion give timining shifting market opportunities. Means to spot market development trends in market timing. Position for utilization of their own from that trend. Ride tends to get get delay before it and benefit to you whenever possible.
In the now, not gold, an unprecedented bull market. Gold prices are historically high levels. Is driven by the continued gold prices cheap hgh abuse and Fiat currency debasement. People are afraid to lose the value of Fiat currency. Eventually only one sheet of paper is a dedicated backup my confidence and it purchasing power.
Therefore, these are high, is a factor driving the price of gold. Some experts predict gold prices from about $ 2,500 per 1 oz, 1 oz $ 1,200 to double in next 6 months. This is a historic opportunity. Should you think about the gold and foreign exchange trading.
Gold anti-also called dollars. Both have a strong negative correlation. When you go to the high price of gold, dollar weak, when get and gets a crash of the dollar, gold prices. This is the way. To hedge the position both of you in the currency market money market as you can using this fact.
You can trade in the USDCHF pair XAUUSD. It is a symbol of the XAU gold. So essentially gold dollar trading is similar to the trading of the dollar against other currencies.
Now, you too crude oil from the eye to replace the same MT4 platform. It is the strong correlation between such as petroleum oil strongly correlated Canada $ currency pair. We are going whatever, now the crude oil price down world economic recession and soon, oil prices climb again. Saying that can reach some experts is $200 1 a barrel high crude oil prices. In the diminished supply of crude oil, the Earth, what in the days of cheap oil.
You need to master, gold, oil and Forex trading as a trader, these three markets. Now the good news is that you have been trading Forex, easy to start gold and crude oil trading. Traders have developed specialist can replace these markets Advisor is.
John Campbell, and living in Malta’s is a system developer and expert advisor collection you can trade other contract host contains the product as a full-time Pro Gold, oil and Forex trader gold, crude oil, foreign exchange and stock indices. Look at his collection of the EA you should take.

Google Adesnse

Let’s face facts, the biggest challenge is profitable not tools that we use, market volatility or some weird conspiracy insider information. A major obstacle to trade is profitable for you, me, us. We are our own worst enemy.
When trades are going well we get greedy. For too long we have to stay in and losing all the gains we had. When the market begins to turn against us, we get we fear the plug early trade which netted us enormous.
If you trading markets have been at any time, you know what I’m telling you, absolutely true. However, the real question is how to get from it?
How do we get our emotions, our shopping from and stop killing our profits?
The answer is that someone else do trading for our us. Now well monied traders are doing it for years. Call their brokers and tell them “Hey Mike when the euro hit its fair value of 1.20 go head and sell 1% of my capital.”
Now what happens is that the broker does it alert software trade and when this warning sounds Broker includes a short position in the market for its clients. And then they go ahead and steal their chunk of change to your account for your hard work.
Forex trade solutions for simple mortals
Now for mere mortals among us who do not want to abandon this chunk of change to full service broker-or for those of us who do not trade have the chops to call this type of trade with certainty, what do we do?
Here’s what trade automatic Forex System. They trade on technical indicators. They trade on net facts without interference, emotions. And they never sleep.
That is why many investors are turning to automated trading Forex software rake in continuous tradeprofit from currency.

Google Adesnse

Let’s face facts, the biggest challenge is profitable not tools that we use, market volatility or some weird conspiracy insider information. A major obstacle to trade is profitable for you, me, us. We are our own worst enemy.
When trades are going well we get greedy. For too long we have to stay in and losing all the gains we had. When the market begins to turn against us, we get we fear the plug early trade which netted us enormous.
If you trading markets have been at any time, you know what I’m telling you, absolutely true. However, the real question is how to get from it?
How do we get our emotions, our shopping from and stop killing our profits?
The answer is that someone else do trading for our us. Now well monied traders are doing it for years. Call their brokers and tell them “Hey Mike when the euro hit its fair value of 1.20 go head and sell 1% of my capital.”
Now what happens is that the broker does it alert software trade and when this warning sounds Broker includes a short position in the market for its clients. And then they go ahead and steal their chunk of change to your account for your hard work.
Forex trade solutions for simple mortals
Now for mere mortals among us who do not want to abandon this chunk of change to full service broker-or for those of us who do not trade have the chops to call this type of trade with certainty, what do we do?
Here’s what trade automatic Forex System. They trade on technical indicators. They trade on net facts without interference, emotions. And they never sleep.
That is why many investors are turning to automated trading Forex software rake in continuous tradeprofit from currency.