STRATEGY TRADING FOREX

Currency Trading Strategy Number Fourteen :And now for the tough part. I know my documentation says that theforecast low and high for the next trading session can be M1/M3 orM2/M4. However, trading is shades of gray. It is not a black andwhite business. If it were, the world would be paved in gold, andeverybody would be rich. Now, we wouldn’t want that would we? Theforex would be nothing more than...

Currency Trading Strategy Number Thirteen Only use “reading bars,” MACD divergence, pivot points, andtrendline analysis in your forex trading toolkit. That’s all you need forthis market. Be a technical bigot. Focus on pure technical analysis,and avoid funnymentals. Even news is factored into price action, soPage 3 of 24 MoneyTec Active Traders Community Forums™ - 80 Trading stategies for forex9/15/2004...

Currency Trading Strategy Number Eleven That all said and done, if you entered a trade close to a pivot point,or a particular significant bar pattern (like a double top, for instance,or a trendline breakout), place your stop on the other side (but nottoo close to) the event that caused you to take action. This isbecause price has a tendency to snap back to that situation thatcaused it to bolt away...

Currency Trading Strategy Number Nine Again, MACD divergence on the 15 min chart is more significant thanwhat you see on the 1 hr chart in the near-term. For those of youwho don’t understand what divergence means, keep looking at myown personal forex trading examples on this page on a daily basis forexamples of divergence. Basically, what it means is where you seeMACD waves “waving” in the opposite...

Currency Trading Strategy Number Seven If MACD is trending down on the 15 min chart, and price is wantingto go north, price will sooner than later head south as it perhapsbounces off a pivot point, or gets turned around at a juncture caughtby one of the other three “tools” you should be using (“readingbars,” MACD divergence, or trendline analysis). Same thing if MACDis trending up, and price is trying...

Currency Trading Strategy Number Five Don’t dwell on the 5 min chart, as it contains a lot of “noise” that willwhipsaw you to death.Currency Trading Strategy Number Six MACD rules on the 15 min chart. Even if MACD is, say, trending upon the 1 hr chart, if it is trending down on the 15 min chart, that’swhat you take your cue from. That’s not to say a shift in pricedirection is not in the works. It...

Currency Trading Strategy Number Three When you first start out in any particular session, look at the 1 hrchart to get an overall perspective on trend from one session to thenext, and what it’s likely shaping up to be at the beginning of theupcoming new sessionCurrency Trading Strategy Number Four Only look at the 5 min chart if you absolutely have to see what’sbehind the current 15 min bar – especially...

Currency Trading Strategy Number OneWhen you are just starting out, strive to carve out 20 pips perPage 1 of 24 MoneyTec Active Traders Community Forums™ - 80 Trading stategies for forex9/15/2004 http://www.moneytec.com/forums/showthread.php? postid=67458\session, and that’s it. Then, turn it off, and study some more. Whenyou get really good at it, you can then “graduate” to higher returns.So, set...

I. The Set-UpAfter you have calculated the pivot numbers for the day, place horizontal lines on your 5-minute and 1-hour charts at the pivot numbers for the day, or at least as many lines asyour chart gives you room for. It should look something like this:The lines in the above illustration represent five of the nine calculated numbers. On thisfive-minute chart, that was all there was room for.The...

Forex trading has enjoyed exponential growth and widespread popularity over the pastfew years. It is only now that online foreign exchange trading is starting to get noticed. Until recently, large international banks were the big dogs in the foreign exchange (FX or forex for short) market, selectively allowing access via telephone trading to Fortune 1000 companies, large funds, high-net worth individuals,...

Large returnsCurrencies trend well.There are no commissions.US$6 trillion a day and growingThe forex is a very efficient market.High leverage: Each pip is worth US$10There is lots of movement in this market.You can trade 24X5 from home or anywhere.Little capital is required – as little as US$500.You can easily start out by taking 20 pips a day.You can trade whether you have a...