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Automated Forex System Trading Feeling Comfortable

You are probably thinking now, which approach is best?Also, you may be thinking, how could I feel comfortable using either method and especially one that I seem to have no control over?The first approach, that requires your monitoring and action, is currently the major one in the market.This automated approach evolved from the extremely difficult and manual approach of many years ago.While there are many automated Forex systems for trading, they still require input from you.This is where a lot of training and practice is required on your part to feel comfortable trading and hopefully become profitable.Depending on the Forex system, this approach may take months to a year or more to feel comfortable trading.These automated Forex trading systems can also be very expensive and many are not worth your time or money.It will take considerable time and effort on your part to pick one or two to evaluate and use.The second approach evolved from the partially automated Forex system mentioned above.The system is a fully automated Forex trading system.This robot, as some call it, monitors the market, makes the trade and places the order to enter and exit.Okay, you are probably thinking, what do I do?This is part of the point of using these systems.With the fully automated Forex system your primary input is at the beginning when you initially set up the Forex software.You determine the basic parameters that the software will trade within.You may be thinking now, what parameters do I use?The default settings and training should be supplied by the automated Forex software producer or programmer. Once the fully automated Forex trading software has been installed correctly it can run with minimal input from you.After a few days or a week or so of watching it trade, you should become comfortable with letting it run without your presence.This approach is being well received by experienced traders to help provide good trading profits but also provide time leverage.As a side note, you can still manually enter or exit trades if you have the desire.In either approach, partially manual or fully automated, be certain you perform your due diligence.Get testimonials from users.Back testing or “demo” results are alright but real world live account trading results are much better.I suggest you do not buy any product that does not have at least 3 months and preferably 6 months to a year of live account testing.You can feel comfortable using either Forex system approach.However, the partially manual approach tends to take much longer because of the training and practice necessary.The fully automated approach is much faster and offers the option of earning money while you decide to learn more about Forex trading.

[youtube]http://www.youtube.com/watch?v=MvJH8mGIbcM[/youtube]
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Forex Trading A Peep Into The Fibonacci Den

Forex Trading – A Peep Into The Fibonacci Den

by

ForexAbode.com

Fibonacci analysis started with retracements of prices during a trend according to Fibonacci sequence. And it is really surprising how many times we see the trending prices retracing to Fibonacci levels of 38.2%, 50% or 61.8% and then continuing the trend.

[youtube]http://www.youtube.com/watch?v=JGAzGxDFxZY[/youtube]

When we talk about Fibonacci numbers in nature etc, it seems to have some magic behind it. But then every magic has a logic behind it. What I am talking is Fibonacci in flower petals, in shell spirals, in the family trees of rabbits and cows and so on. But the why Fibonacci works in trading also? Is it that magic or is there a logic? Well, no magic is without a logic or reasoning and same is true with Fibonacci analysis in trading Why do technical analysis indicators work? The major reason that any technical analysis indicator works is mainly because of the number of traders taking major positions on the basis of the signals generated by it. The success of any indicator depends on the number of traders following the signals generated by it. A sell signal comes and people start selling big and the prices would drop further down. Going back to what was mentioned above that Fibonacci sequence, at times, shows that there is a mystery behind it. That makes traders to try to find newer ways of analysis based on Fibonacci sequence. And that brought in so many other Fibonacci indicators in trading market. These tools are Fibonacci extensions, Fibonacci Arcs, Fibonacci Fans, Fibonacci Time zones etc. All these indicators use Fibonacci sequence of numbers in different ways. As an example Fibonacci retracement levels are flat levels and take into account only the prices while Fibonacci arcs take the prices and time into consideration This article is to see which Fibonacci indicators we should use. Which Fibonacci analysis is better? Well, I would say that the better is which tends to be the base of major trades as a tool used by more number of traders. The professional traders always like the simplicity in their analysis while even if they analyze larger volumes of diversified data. They would not use a big numbers of indicators but only selective ones. And hence the vote would go to the original Fibonacci retracements amongst all the other Fibonacci indicators. Fibonacci retracement and extension but to which level: 38.2%, 50% or 61.8% or more? To what level we should expect the correction depends on the strength of the trend. When the trends are very strong a correction may not be very big. During the trends which are not trends the retracement levels may be big. It is always advisable to use some indicators to check what is the strength of the trend and whether any indicator is indicating a trend reversal. We can use ADX, Stochastic and MACD, Ichimoku clouds etc. If the ongoing trend is very strong then price may not retrace very much and may only go to 38.2% level. If the trend is moderate then it may further retrace to deeper levels. A balanced combination of complementing technical indicators is always good. Use of technical indicators and time frames: What kind of time frame charts the traders are using and what kind of trades they are making for major trades also adds to the dependability of the signals. One thing is sure that no big trades would happen on the basis of the analysis on 5 minue charts. Keeping a track of longer term charts and shorter term charts is always important to see the true direction and knowing entry and exit points.

For more details please check

Fibonacci

and

Ichimoku

pages of ForexAbode.com. You may also share your views at

Forex Forum

.

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Forex Trading – A Peep Into The Fibonacci Den

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Forex Trading Made Easy

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Forex Trading Made Easy

by

Dee Winne

Day Trading currencies can seem like a dauntingproposal, but it is possible to trade in the Forex currency market market effectively. There is great potential in earnings when day trading currency pairs, and if you concentrate on the tips in this posting you can achieve success.

[youtube]http://www.youtube.com/watch?v=vVaSRwaqfwE[/youtube]

Learn foreign exchange market terms. Educate yourself on the nicknames for various fx pairs, common ways to analyze a price chart, and things to look for in the news that can possibly cause a market movement. Selecting the best trading platform is crucial. All forex day trading software and web platforms enable you to trade in the market, but you need to find the one that is easy to use with a low learning curve. When you choose a swing trading software package that is user-friendly to you, you can avoid making simple, yet costly mistakes. Before choosing a brokerage, seek out more information. Read about the broker\’s popularity with other traders, particularly traders residing in your home country. Be certain that the broker you select is one that has a great reputation. Also considerwhether you desire a dealing desk or non-dealing desk broker, and learn whether or not the broker you are considering is a market maker. When you are starting to learn to swim, you cannot leap off a high-dive into an ocean. Instead, you dip your feet in, then slowly get into shallow water. As your self-confidence increases, you take larger risks and swim into deeper water. One should trade foreign exchange in much the same way. Start out small and slow. Limit your risk as you gain experience in short term trading the market. Pay close attention to your risk/reward ratio. If you are endangering $1000 to potentially earn $100, that is probably not a good choice. High amounts of leverage are accessible in many areas of the world, it is easy to let your reward to risk ratio get completely out of hand. Micromanage this part of swing trading. Be aware of how much cash you are risking, along with the percentage of your day trading account total you are risking. Attempt not to risk beyond Two percentof your account on any one trade, and keep the total risk on all trades at less than 50% of your short term trading account. This gives you the cushion you may need in the event the market moves against you suddenly and severely. Spend a bit of time each week after the day trading week has ended to reflect on your trades. Examine each trade- not just the losses. Figuring out why you chose to enter a trade when you did and the reason you exited a trade when you did, and examining the results will assist you to improve your day trading plan. You are able to tweak your plan if parts of it are not working the way you want, or leave the plan alone if your results are what you expected. A few things you learn about foreign exchange are not going to make sense. Sometimes this is because you have a lot more to understand, in other cases it is because the information is wrong. If you follow the tips in this short article, you are on the path to success in foreign exchange.

Trading is hard without the correct

intraday trading techniques

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ArticleRich.com