Tag Archives: Day Trading

Forex Trading

Automated Forex Trading For Beginners

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Getting started on the forex market can be tremendously satisfying. But the only choice we had was to begin as a manual trader. As you can imagine this is impossible to do with out first hand knowledge, trial, and error. But with advancements in technology most traders are now going completely automated. So how can you benefit from automated forex trading?

Automated forex trading is done by using a forex robot that integrates into your trader platform. This forex robot or expert advisor can handle the entire trade for you from start to finish. It is usually developed by professional traders who regularly trade in the market and a profitable one can obviously really change the game for you.

Automated forex trading is tremendously powerful. Automation frees up your time. After all I’m sure your time is valuable. Why waste it staring at the computer. And this is only one reason why having an automated system placing trades for you is extremely valuable. Can you actually put a price on your time?

The problem with manual trading is the emotion involved can ruin a trade. That combined with inexperience is a recipe for disaster. By using the automated forex trading robots you automatically have a veteran trader looking out for you. It trades without emotion, the winning strategy it was programmed to do. Now you can watch and learn from the best all while it makes profitable trades for you.

How do we get started using an automated forex trading system? Well almost all of them are incredibly easy to setup and use. The install is pretty easy if you are the least bit familiar with computers. Simply drag the robot into your MT4 folder. Launch the platform and then drag the expert advisor on the chart you want to trade. All come with step by step instructions and other than that the only input it needs from use is your risk preference. The bot takes care of the rest. Now don’t worry as you get more advanced these things are fully customizable so you can tweak accordingly as you grow.

It can be intimidating at first trying to pick the right automated forex trading robot. With literally thousands out there on the internet where do you even begin? Well take the time now and research each ones. Find a few that you feel are the best and really dig deep. Find one that fits into your trading plans and goals.

Researching and finding unbiased reviews will be the key to finding a successful robot. Remember everyone will have a different opinion on the best one. And don’t look to the sales page for help because it will is only giving the best results to get you to buy. Go to forums and actually ask real people what they think. Take the time to form your own opinion and then feel comfortable buying.

No trading technique or strategy is going to win and profit on every trade. If that was the case then everyone would be instantly rich on the forex market. Set attainable goals and find a robot that fits into that plan. No robot is flawless so study its strong points and its downfalls and don’t forget to have some fun trading.

Get all the facts on automated forex trading at http://tradingforexblog.com

Forex Trading

Should I Be Using Forex Signals

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Placing trades in the forex market has to be one of the most electrifying things that you can do in the world of trading. Unlike every other method of trading, foreign exchange trading has massive opportunity within it. Any trade could net you a huge amount of profit. With how dynamic the market is, there is the potential to score an amazing trade at any second. If you can get excellent forex signals, you can make a great living all from your bedroom.

Do you really need to use forex signals? Imagine yourself at your computer analyzing and trying to find the right time to trade. All of a sudden, you get an email that says a trade is approaching. You get prepared, the moment comes, and you make a trade. A little later, you get a second email that says to close the trade out. You were able to score a profit and knowing the market was not necessary. This is what forex signals are and they are very easy to use.

Forex signals lets you take your time back. You no longer have to sit and analyze the markets. You can do whatever you want. Even take a walk. When the time comes you will be notified when to make the trade. Best of all you still have the choice of whether or not you want to. It is not automatically trading for you.

Think of the freedom that this represents. You can have the forex signals sent to your phone and as long as you’re nearby your trading platform, you can go anywhere you want. You can even place the trades from your cell phone if you desire.

Another huge advantage of forex signals is that you can start right away without researching the markets or losing your personal money to trying out different strategies. Get the signal and place the trade. The only real thing you need to learn is how to use your trading platform. You can get going in less than a day.

Forex signals should definitely be added to your toolbox, but with the positives there are always some drawbacks. No signal service is perfect and they do not win every time. Finding a service that is feeding you more winning signals than losing is the key. If a majority of your trades are winners then you definitely can make it work.

Even when using forex signals, you need a money management tactic as well. If you trade too much on the losses and not enough on the wins, it doesn’t matter if you win 90% of the time. You need to be consistent with your money management regardless of your account balance.

In my opinion if you are looking to trade forex then forex signals are a must have tool for your arsenal. It lets you benefit from the knowledge of professional traders and frees up your time to research other things. You still have the choice of whether or not to make the trade and if you find a good service and can reap the rewards today.

A great resource on forex signals is available at http://tradingforexblog.com

Forex Trading

Fibonacci And Pivot Point Trading (Part I)

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Traders frequently use the Fibonacci retracement levels and pivot points in their trading. Many day traders are diehard fans of the Fibonacci retracement levels and the pivot points. The use of Fibonacci retracement levels and pivot points are often considered by their adherents as complete, self contained trading strategies. Why some traders are diehard fans of the Fibonacci and pivot point trading? Continue reading the article to know why!

Don’t confuse the two methods as one. I want to make it clear the Fibonacci Retracement and the Pivot Points are two different methods and must not be confused as a single trading method. Both produce mathematically derived support and resistance levels that traders may use either as indicators of possible retracement turns or as zones to watch for breakouts. The horizontal price levels that are generated through Fibonacci retracement levels and the pivot points are calculated using different methods and formulas.

Why Fibonacci retracement levels and the pivot points work most of the time? What makes these tools work surprisingly well under diverse market conditions is the simple fact that many traders both small and large use Fibonacci retracement levels and pivot points in their trading.

Therefore the levels derived from these two tools become self fulfilling prophecy. This is why significant price action occurs around these levels due to the fact that many traders are watching and reacting to these price levels.

This phenomenon contributes to the Fibonacci retracement levels and pivot points frequent effectiveness and accuracy in describing the market movement. The most common Fibonacci retracement levels are 23.6%, 38.2% and 61.8%. These three Fibonacci retracement levels are most frequently followed by the traders.

As said above, Fibonacci retracement levels are very popular among the traders. There is a full fledge Fibonacci trading method. You will hear very often, the commentary on CNBC or Bloomberg that price is approaching the 38.2% retracement level and something important like a turn could occur at this level. This shows the popularity of Fibonacci retracement levels among the trading community.

Both methods have clear cut locations for the stop loss placement similar to most support/resistance trading methods. Fibonacci retracements can be traded either as a breakout opportunity or as a retracement bounce. Fibonacci levels can also be used as profit targets for existing open trades.

Most of the technical indicators used in technical analysis are lagging in nature. Pivot points are leading indictors of the price action in the market. This makes them very useful for the traders. Pivot points are derived mathematically from the previous day’s data that includes the previous day’s high. Low and close. The main pivot point (PP) is calculated by taking the average of the high, low and close of the previous days’ price action.

From the PP, four other primary pivot points are calculated. Two are above the main PP and two are below the main PP. The levels above are R1 and R2 where R stands for resistance.

You can easily find a pivot point calculator online. Most of the charting software also can calculate the pivot points. The two levels below the main PP are the S1 and S2 where S stands for the Support. Often these pivot points are further extended to R3 and S3.

However, it is always good for the trader to know how these numbers are calculated. This will give the trader an understanding of how these numbers are calculated and what are the variables that are used to calculate them.

Mr. Ahmad Hassam is a Harvard University Graduate. Try These Cash Printing Forex Signals From Heaven! Learn Fibonacci Retracement Get a totally unique version of this article from our article submission service