Forex Trading Reviews

Time : 11.12 PM = 8.00 + GMT

GBPUSD H1

Prices are moving downward but still in the uptrend area of Bollinger above middle band with no current indicators appeared.

Other indicators:

1. Fx Sniper Ergodi CCI -- Two lines crossing pointing down still above level line.
2. MACD Alert -- Lines about to cross down aboe leve line.
3. RSI(10) -- Line moving downward still abiove level 50.

Forex Trading Reviews

Time : 10.55 PM = 8.00 + GMT

 EURUSD H1

Prices are making their way down with a long white bearish candlestick bar moving downward followed GP Reverse and Super Signal v3 to indicate that the price could make a reverse at any time.

Other indicators:

1. Fx Sniper Ergodic CCI -- Lines moving downward crossing zero.
2. MACD Alert -- Moving down.
3. RSI(10) -- Below level 50 down.

  

Forex Trading Reviews

Time:11.30PM = 8.00+GMT

GBPUSD H1

Prices are playing blow middle line of Bollinger with two candlestick up bars. There is no indicators shown yet on the chart.

Other indicators:

1. FxSniperErgodicCCI -- Ascending below zero.
2. MACD Alert -- two lines showing sideway below zero.
3. RSI(10) -- slight ascending touching level line 50.

Forex Trading Reviews

Time: 11.16PM  = 8.00+GMT

EURUSD H1

Prices made a reversal after a long down with NonlagMA up.

FxSniperErgodicCCI -- Below zero but ascending.
MACD Alert -- Below zero down.
RSI(10) -- Pointing sideway after a slight up.

Select Trading Tools To Create A Good Forex Trading System

Forex trading has provided opportunities for many people to make money online. Even so it will not be easy if we have no knowledge of forex trading. There are two kinds of knowledge the traders used in trading forex, they are fundamental and technical. In this discussion, I prefer to focus on technical indicators that most traders used to apply in their forex trading.

Trading indicator is always used with technical tools such as Bollinger Bands, Candlesticks, Moving Averages and more. Technical tools can also be used as an indicator in some forex trading. If you can make use of indicators and technical tools wisely, you will be able to create a robust trading system that allows us to interpret forex market in making more intelligent speculations.

Good trading system is a system that has the criteria as below:

- Indicator is simple and easy to read.

- Indicators that can show trends.

- Indicator that can give early sign or warning.

- Indicator that can indicate reversal

- Indicator that rarely makes a false signals

- Indicator that does not repaint.

- Indicator to be ideal for other indicators.

- Indicator that is not misleading when used with other technical tools.

 The above criteria are merely a reminder, the system used only as your guide to trade forex, you can use any trading indicators for your trading method. There is no system provides 100% accuracy. Use it wisely and intelligently and make sure that the profits will be on your side.

Trading System And Discipline

We all know that forex trading can provide a lucrative income to traders if it can be operated systematically plus some self discipline. These two factors can truly determine the actual success in forex trading. The first factor, the system plays a role in determining the intensity of trading. Using the system that really suits a trader can make a better interpretation. Good interpretation leads to the accuracy of the forex trading forecasts.

We have to try test our trading system as many times as possible so that we can uncover weaknesses and we must rectify it. For example, some systems are good for one or half hour trading but some are not. If we prefer to trade for a hour, we have to find and use the system that suits to our one hour trading method, or else we adapt ourselves to that system.

The second factor is something that has to do with the discipline concerned with the system we use. Ask ourselves whether we can adapt ourselves to the system we use. Can or not we create a discipline for our own self to use the system. As an example, are we ready and are prepared to use one hour trading system to trade forex? We all know that each an individual currency pairs has their own best trading hours, and will we wait for that time to trade forex and sacrifice our precious time for something else just for the trading. In other words we really have to reset our own schedule and follow it obediently to accomplish our mission.

A good trading plan in forex trading is the combinations of forex trading system and self discipline set to follow and apply it without any doubt just like a robot with extra applications of human common sense and rationalizations.

Forex Trading Reviews

Forex Market Reviews
Time 7.55 AM = 8.00 + GMT

EURUSD H1

Bollinger showing sideway but prices iside shwing up. 3 liones EMA also up all above middle band. A reversal indicator GP Reverse appeared but current bar still positive.

Other Indicators:

Fx Sniper Ergodic CCI -- Above level line showing slight up.
MACD Alert -- Above level line showing sideway.
RSI(10) -- Above level 50 showing sideway.

Forex Trading Reviews

6.20 AM = 8.00 + GMT

EURUSD H1

Reviews:

Market - Ascending up, prices at up level in the squeeze bollinger area.GP Reverse and Super Signal appeared at the last 2 bars. Non lag MA seems to be pointing down and still EMA all 3 lines are in the up mood.No other indicators appeared except all oscillators like MACD and RSI are playing above level up. Fx Sniper also pointing on positive side.

Bollinger -- Squeeze up.

GP Reversal -- Reversal.

Super signal 7.1 -- Reversal.

NonLagMA V3 -- Down.

Fx SniperErgodic CCI -- Above level up.

MACD Alert -- Above level up.

RSI(10) -- Above level pointing down.

Using Indicators To Trade Forex

Using indicators in forex trading have been a normal practice to most forex traders. Trading software like Metatrader has included indicators in it, some are already inside and in fact you can place outside or commercial indicators to the software. You can add the outside indicators at anytime you like by just going to your program files then to your Metatrader then to expert and finally to indicator files to place your new indicators.  For EA indicators you just put it in the expert file. If you are very good at metaqoute language and if you are very creative you should know what to do, right?

Even if you are totally alien with the language but if you are creative and have a good trading skill using Metatrader, I believe you can scrutinize the indicators and tools to create a very good and reliable trading system. I would like to tell you this, an ordinary forex trader like you and me with some forex trading skills will be able to create a simple but reliable forex trading system by utilizing ready made trading tools and indicators without spending any money. If we are a trend trader its best for us to use the trading tool that is EMA(Exponential Moving Average) as our basic tool. Another good thing about this software is that it allows us to set the parameters of the indicators according to our own use. EMA is a trend following tool, and is capable of giving a near to correct price direction. It is a very reliable tool when used in long term trading. It also can be used for short term trade but it is best to use with additional indicators to make sure that the prediction will be more powerful.

To pair with EMA, we need to find indicators that can match itself with the EMA. Indicator for a reversal and buy / sell indicators are most appropriate for me to work with EMA. And also you can get these indicators for free. Just type at Google in just a few seconds you will be brought where the indicators are located. There are many more indicators actually you can find in the market that can be tried with the EMA. It is also known as somewhat lagging a bit, but to work things well you can use the non lag Moving Average indicator to combine with EMA. You need to use a reversal indicator that can give early warning or indication before the occurrence of reversal. Some indicators can be pre-instructions before prices really make a reversal. To facilitate your reading of the system you need to use oscillator type of indicators such as MACD and Stochastic, but I prefer to use RSI modified as an additional indicator.

The list of indicators below can be combined with EMA to create a trading system. However it is up to you to determine which are better for you. To your knowledge of all these indicators can be obtained free of charge.

1.    EMA 3 lines as basic tool.
2.    Super Signal v3 – Reversal indicator.
3.    GP Reverse – Reversal indicator.
4.    NonLagMA v7.1 – Non lagging Moving Average.
5.    AscTrend Signal – Trend signal and support reversal indicator.
6.    Shi Silver – Supporting reversal indicator.
7.    Fx SniperErgodic CCI – Can be used to detect trend and confirm reversal.
8.    MACD Alert – Can be used to detect trend and confirm reversal.
9.    RSI(10) level 50 – To check price movement and reversal.

Forex Basic Trading Tools

Many investors are turning to Forex investing and use some proven best forex tools and indicators for their trading portfolio. Forex Trading is not like stocks, bonds, mutual funds or other investments. The reward can be greater with less time and risks involved. This does not mean that currency trading is not risky. It can be very risky. Using proven best forex trading tools can help minimize this risk and become a more skilled and powerful trader.

Learn Forex trading is essential to forex traders. Learning to use the best proven forex trading tools and indicators may take some time and effort. The time and effort will be rewarded as increased profits, greater trust negotiation, and financial stability. Some of the best proven trading tools and indicators that are used in forex trading are simple moving average (SMA) Exponential Moving Average (EMA) Bollinger Bands, Parabolic SAR (stop-and-reversal), Rate of Change {ROC}, RSI (Relative Strength Index), Momentum, Moving Average Convergence / Divergence (MACD), and ADX. But these two tools Moving Average and Bollinger Band are widely used by the traders because of their reliabilities in screening the trend of the market.

The simple moving average indicator gives you the average price of a currency over a specified period. It can be the average closing for a period of 5, 10, 15, 25 or even 45 days. Bollinger bands are the levels of indicators that show the upper level and lower level of the value of money. Prices should be between the two bands. It depends on the volatility of the currency you are evaluating. The best to use moving average and Bollinger is to combine with other indicators to a form a trading system. The trend following, reversal, oscillators are the common indicators used to form a good combination work with two tools- moving average and Bollinger. To make the system works best with your style of trading, always practice it and modify a little bit until you really get the system which is best and ideal one for your trading.

Technical Trading System

The modern technical analysis approach is using a set of rules, principles and techniques combined. We believe there are two sub-disciplines in technical analysis: Charts and indicators. Chart technique is the directly studying the charts, for example by drawing lines (support, resistance, trend lines ...) or try to identify "graphics patterns" that are repeated.

The indicators are the instruments with signal properties showing price movements. They are created to combine with charts to get the most accurate market predictions. A trader will interpret the market with the help of charts and indicators and eventually trading systems are created. A trader normally applies the trading strategy using trading systems. A good trader will always follow trading systems and strategies and discipline himself to make sure that their trading will not be out of control.

In forex trading, the trading systems are widely used not only by seasoned traders but also by beginner traders. The beginner traders will always be searching anxiously for their Holy Grail techniques or systems with the hope to get one to wipe the market. A good trading system is a system that will make you as a trader be comfortable with it. The simple system that is quite a user friendly typed and not with a lot technical jargons will be the best one for the beginner traders to follow and start with.

Making money in forex trading is opened to everyone, perhaps technical analysis or systems may show you the right path to making money on this earth. It also does not mean you just pick up any system and straight away you will make money. It will not go that way, you still have to go back to basic and learn what it takes to be a successful trader, by doing so I personally believe that you will become one, one day.

Getting The Right Forex Trading System

Are you trading in forex? If so, are you using any system to trade forex, and if yes I would remind you that choosing the right system is not as easy as some people thought. There is a lot of forex trading systems in the market, some are free and some you have to pay for it. Whether they are paid or not is immaterial but what we are concern is the right forex trading system that can really suit and fulfill our needs. If you want the systems make sure you can really adapt those systems, if not it will be a waste of your time and money.

Knowing your own capability is the main criteria before you pick up any system to research. If you are not a mathematical type of person, do not try to use some systems that used mathematics to study the market. If you like pictures and colors and you possessed some artistic character, you can use the forex trading systems with color indicators to interpret the forex market- a picture paints a thousand words. The most important thing is you can adapt yourself with the indicators and put into practical use to trade forex. I will not use Fibonacci or Elliot Waves to study markets even I know the systems are good but it’s just that I am not comfortable with the systems. In other words I can not adapt myself with the systems.

The systems created for traders to use, but not every system for every trader. A forex trader should use the system whenever he thinks the system is right for him. In fact there are some traders created their own systems, they applied it in the forex trading and most of the seasoned traders use their own systems to trade. You too can do that.

What You Need To Be Forex A Trader

Forex trading is a buy and sell of currencies. A person who makes the decision to buy or sell the foreign currency pairs then execute the orders either buying or selling the currency is a forex trader. To be a trader, first of all you need to register with forex trading firms, and you have to open a forex trading  account with that broker firm and then deposit certain amount money or magin, then only you will be able to trade the foreign currencies with the firm you have registered. The process from the beginning is very easy. Anybody can be a forex trader, you don’t need certain standard or qualifications to be a forex trader. All you need is capital, a computer and internet connection to trade the forex market.

Forex trading is one of the  few  ways to make money online. If you want to have financial freedom, learning more about FOREX should be on the top of your priority list. You can acquire forex trading knowledge anytime by just getting it through internet for free. I would advise you join forex classes and if possible get a forex guru or mentor for personal coaching. Learning the forex trading by personal coaching will give you more exposure on the trades and also you can easily copy your mentor’s style of trading. The beginner traders must practice a lot, you can practice with demo account and spend very little of your money if you want to practice with the more real trading account, because  you can  start doing the trades even with $ 10.

How To Start Trading The Forex Market

Forex trading is one of so many ways to make money but there are still many people in this world do not know what is forex is all about. To make things simple and clear- forex is an acronym for foreign exchange in which people will buy or sell money or currency from one country against another country. Unlike other financial markets that operate at a centralized location (i.e. stock and commodity exchanges), the worldwide forex market has no central location or exchange. It is a global electronic network of banks, financial institutions and individual traders, all involved in the buying and selling of currencies.  To know and understand the forex trading will not be very difficult and even the forex trading knowledge can be acquired easily from the internet for free.

To start trading in forex is easy, one needs to have capital in a first place that will enable him to open up a trading account with forex brokers. There are hundreds of forex brokers in the market so you can choose which broker you think the best for you. The best is  get some information on forex brokers from online forex brokers reviews, forums and recommendations from experience forex traders regarding forex brokers and their reliability. You have to make sure that your broker must be a reliable one and also you must have a sound knowledge in forex trading. If you are new to forex trading please attend forex classes at least to equip yourself before really going into forex trading. Forex trading is a risky game, as a forex trader you need to be tough in order to face with whatever consequences due to forex trading. Do start trading with small capital and do trade as many as possible because the more you trade the more you will gain experience.