Posts Tagged ‘manual trading’
Forex Profit Accelerator’s Rules for a Forex Trading Strategy
March 2nd, 2010
Posted in Forex
There are numerous forex trading systems. There are far more techniques that there are traders. And there’s an inclination to add as many indicators into the mix as practicable. That’s’s particularly subjective to the noobs. Somehow they think the more indicators you use, the more worthwhile your plan will be. Unfortunatelly that’s’s further from truth and there are so much more to a good method than just the indicators.
Forex Profit Accelerator suggest four critical rules for a successful technique and that is what I would like to bring up. The prerequisites are from the simple entry and exit rules, to often underrated but vital cash and risk control, and the effort and time it takes to employ a strategy. Firstly, many traders don’t care about their time because they are prepared to sacrifice it for profit . But you have to think, is your time worth only so much. It’s ok if you don’t have a life, but most people do wish to have one.Next come the indicators and entry and exit rules. These are widely abused as I mentioned. But the program suggest this part should be as straightforward as attainable. And that makes sense, because that is’s the only real way your strategy may be employed. Ultimately, there’s the chance and money managment. This is what makes a technique worthwhile or not.
sRs Trend Rider – The Simple Way to Read Candlestick Charts
February 14th, 2010
Posted in Forex
Something to look up: sRs Trend Rider
The wonderful thing about candlesticks is that you can see the direction of price movements at a glance. Not only do you see whether the candle in total is above or below the prior one, but you may also tell by the colors whether it marked a reversal or a continuation of the trend.
Certain patterns are particularly vital in learning how to read candlestick charts.
In some cases naturally the open or close will be the high or the low. In that case you do not have a wick in one or both directions. If there is no wick in either direction, this is known as a Marubozu pattern.
In another case, the opening and closing prices might have been the same. Then there is not any candle body but only wicks stretching up and down from the horizontal line that marks the open and close. This is called a Doji pattern.
If the body of the candle is long with short or non existent wicks, close to Marubozu, this indicates a reasonably steady movement, possibly part of a trend. The color of the candle will tell you if it is an upward or downward movement.
On the other hand if the wicks are long and the body is short or non existent, more like the Doji pattern, this could indicate a troubled market with big fluctuations. Trend based trading will have a tendency to be suspicious of Doji patterns, that might be a sign the market is beginning to become untrustworthy.
Of course one candlestick on it’s own is not enough to form the foundation of a trading decision. You’ll always look at a sequence of candles. For example, you can draw trend lines along the highest highs and lowest lows on candlestick charts. These will help you to identify whether a trend is forming, or if the lines are converging, whether a breakout might be expected. When you know the way to read candlestick charts you can base systems around these prospects.