FOREX TRENDLINE TRADING STRATEGY
FOREX TRENDLINE TRADING STRATEGY
MANYTHINGS YOU DONT KNOW ABOUT WEEKLY TF
I have tried a lot trying to figure out how this work.I mean
how to watch the weekly chart. I came out with the opinion
Of its slow and non moving nature.
This nature makes it really disgusting to watch as i don’t
have the patience of watching a non moving chart. I concluded its not moving and there is no point watching it.
I later discover that,despite its stagnant nature,it really shows the overall trend of the market which makes it the most accurate chart to base your analysis upon if you want to win big and risk small.
You may ask me how,but i will tell you that the secret is if it has same direction with all lower timeframes. Then you can risk low lot for bigger gains.
Another secret is that the weekly will always breakout to the direction of its trend and its stagnant nature makes you do proper analysis while greed and emotion is out of your game.
Most of you don’t have any tool that can show you all timeframe at a glance and this is why you make wrong judgement.
Remember that the weekly breakout is a trend direction trading and if you know its direction befor the breakout and you risk small lot,you will be glad to win so big. It’s like a risk reward ratio risk 1 to gain 10.
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SECRET TO FOREX SUCCESS.
I guess you have trade forex for years and you got no result.You have also ran into scammers that eat your money and ran away.Now you got a good belief that all forex traders are scammers and everywhere people talk about forex,you will be the first to type scam.
I just can feel it that you became the victim of your ignorance. Going into forex while been ignorance of the most important idea is a success laid on failed foundation. Let me educate you about few things you need to know befor you go into forex trading.
First thing is to decide your own base capital,and make sure it’s going to be an amount that can generate reasonable percentage in a month.
Second is you will need to wait for at least two months befor thinking of taking profit.
Third is after two months of waiting,at the end of the second month,you must take any percentage of the profit made and you most not let your initial base capital to go down.
Fourth is to continue every month end to take such percentage continuously and keep saving your salary into your bank.
Fifth is while you are spending part of your savings to meet your monthly bills,do not overspend all your savings so if anything happen to your initial capital,you already have a backup capital to top up your account balance.
At this point you will realize that you are no longer using your personal money to trade anymore. Then if you think of growth,after managing account for six months,you can double lotsize to maximize profit.
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"…"………………HOW TO TURN LOSSING TRADES TO A WINNING TRADE
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One question many new (and sometimes even experienced) traders ask is whether it is a good idea to wait out a bad trade and let it finally return to profit rather than just let it close by a stop-loss?
This question is totally normal and all traders probably wondered about this. However, the answer to it is almost always no. There are two problems with waiting out bad FX trades:
It is likely that the exchange rate will never recover to level for your trade to become profitable. Not in a year, not even in 10 years. You could have bought USD/CHF at its high in October 2000, and you would still hold a massive loser of a trade 21 years later.
You are missing potentially profitable opportunities to trade by keeping your margin locked — both to keep the trade active and to cover its floating loss. Besides, you would also be paying rollover fees every day to keep the position open.
By not using a stop-loss, you do not realize your floating losses, improving your overall on-balance profitability. While in many cases, it will work well — you will successfully wait out negative periods to close trades with some profit, eventually, it will lead to "eternal" losing positions, which will be a huge drag on your account growth.
Although, generally, it is a bad idea to wait out your losers, it is also necessary to mention that such technique can be a good choice in some specific cases:
Non-leveraged stock or stock market index purchases. If you believe that the fundamentals are good for the stock's growth, there is no point in selling it. Such rationale rarely applies to Forex.
Carry trades with large positive overnight swaps that can potentially outperform any exchange rate loss. In our age of near-zero interest rates, it doesn't look like a real possibility, but it is still a clear exception to the rule of 'no waiting out of bad trades.'
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Do not risk the money you can’t afford to loose. This post is only for educational purpose
Most traders keep on struggling with forex while i see forex as Verry simple and easy to follow.The simple movement of the price is it only goes up and down so I see no reason why we should make it difficult.
The fact that we traders are different in nature and how we react to what we see,remember that forex is about the price you see on your screen and how you react to the movement.The movement is not stable so your reaction will never be stable.
As a beginer,I will not advice you learn first,i will advice that you need to make money first then learn slowly as you make the money.
The easiest way to do this is to find community of traders and make sure the mentor of the community is good in forex,if you can see his or her result winning 7trades out of 10 at any given time,then,that is a mentor that is on point,you’re good to join the community.
Those mentor are like a driver that will convey you from that point of a broke novice to a point where you can see price clearly and read the chart easily by yourself.This is how far you will or must learn.
You will learn from point you are a broke novice to the point you are able to read the chart easily without mistake and time you can win 7trades out of 10 at every given time.This is your final bus stop because at that point,you have become like your mentor while your mentor has become a forex god.
The fastest way to your success is if your mentor has a copy trading which he or she can plug you in,this will skyrocket your success and boost your learning process because your trading is done for you. At this point,you only need to visit the community and keep relating till you become successful.
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There are a lot of great things about trading in the forex but there are a few,
easy to understand risks inherent in trading in the off-exchange or "spot" forex market. While there is
little that can be done to eliminate these risks being forewarned is forearmed and can help
you manage expectations. The risks I am referring to typically fall into the two categories
listed below. Make sure you understand what these risks mean before you make a trade in the forex.#FOREX
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Simply learning to read market trends can remove a lot of natural apprehension and uncertainty
for beginning traders. In fact, sometimes the best first step to entering the market is to watch
#FOREX
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Following charts, listening to the advice of market analysts and chartists, and learning to make
educated predictions yourself will help you keep track of various marketing trends. The next
chapter will explain more about using the statistics that are published to forecast the next move
on the forex market. Will it be a clear, calm day with little activity, or is there a storm brewing
with winds of change and uncertainty? How can you tell what will happen with your holdings the
following day or even further into the future?
Simply learning to read market trends can remove a lot of natural apprehension and uncertainty
for beginning traders. In fact, sometimes the best first step to entering the market is to watch
shows about it or read the financial sections of the newspaper that detail the trends and
expected outcomes. The following video you will watch below will explain more about how to predict the statistics
and basic trends.
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Too often new traders come into the market without getting to know the most
fundamental components of foreign exchange and how currencies work.
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in an easy and accessible way. Demonstrating them visually,
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trading expert David Jones guides you through the meaning of the first terms
and actions that you'll come across. These are always at the base of the skills
all knowledgeable traders have and need to take on the markets.
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This video should not be construed as investment advice.
Investments can fall and rise. Capital at risk.
CFDs are higher risk because of leverage.
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Below you can see my own video – Forex Trendy review on Youtube,
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A couple of days ago I actually purchased Forex Trendy membership
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but before I will start with my review I have to tell you what you will
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Also in this Forex Trendy review I will show you a lot of screenshot
from members area of Forex Trendy and also later in this review
you can find my Forex Trendy video review on Youtube, where I will
show you live how actually members area and what you will recieve if you
join.
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For example there is one screenshot below of members area ..screenshot of
live trends.As I said above you will also recieve audible and email alerts
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a type of computer software program that scans trends in the market using an algorithm.
In this Forex Trendy review, we’ll learn exactly how it works and what you can expect
in terms of ease of use and whether or not it can help to give you an edge on the market.
Overview
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A relatively new forex trading interface, Forex Trendy hit the market just five years ago.
This software-driven system will analyze and monitor trends in the market, giving the trader
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so they can determine when it’s the right time to pull the trigger
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Since the program can be accessed right after purchase,
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Many traders lose money in complicated market situations.
I don't like investing my money when the market direction
is uncertain and that's why I love trading with the continuation
patterns on the trending markets.
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How to Recognize Forex Chart Patterns on Major Currency Pairs like a Pro
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Do you think that to dramatically improve your success rate
you have to read tons of thick books, buy expensive software
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Almost all Forex traders know the fact that says:
"The Trend is Your Friend".
This is because when you follow the trend,
you reduce your trading losses and increase
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You know what I used to tell myself when I read about other people making money from forex while I was losing?
"There must be a way."
I used to always wonder, "What are they doing that I'm not? When do they enter their trades? And when do they get out?"
It's a mind-numbing, frustrating situation.
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When others in the past would tell you about rigging up your charts with
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What I'm going to show you gets you in early--at the beginning of the trend.
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Trend following has been the best style of trading for the past 30 years. There
were times when traders made fortunes just by following the trend or following
a simple system based on two moving averages crossover. The “buy and hold”
strategy that was so popular by traders about a decade ago is dead today.
Look at the EUR/USD chart from January 2001 until July 2008. The uptrend was
pretty strong most of the time. If you pushed the “Buy” button, you would win
most of the time even with a poor trading system. The consistent rise of the
euro over the dollar was giving you a clear sense of the overall trend.
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In simplest terms moving averages (MAs) calculate the average price of an asset
over a certain period. Almost every professional trader uses moving averages in
their trading as they are non-repainting and unbiased indicators which help to
define trends and remove emotion out of trading.
Day averages are most commonly used for reference in technical analysis. If you
use a moving average of 10 on a daily candle chart it will show you the average
price of the last ten days (10 candles).
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The most common types of moving averages are Simple (where the price
average is calculated equally) and Exponential (where the price average is
calculated with a bias towards recent prices).
Although moving averages can have any value there are a certain specific
averages that are known to perform better. Many traders like to use Fibonacci
numbers. The most widely used moving averages are 5 EMA, 10EMA, 21EMA,
50 SMA, 100 SMA, 200 SMA. Let’s examine them individually in more detail.
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The 5 EMA (exponential moving average), often referred to as a momentum MA,
is the closest average to the actual price action out of all-of the-above mentioned
averages. It’s also a Fibonacci number. It is a fast MA.
It does not perform very well on its own because it’s quite susceptible to price
fluctuations.
However, in conjunction with another moving average such as 50 SMA, 100 SMA
or even 200 SMA it becomes quite a powerful tool for setting entries on both
moving average crossovers. (as seen in picture)
The 5 EMA is mostly used in short term trading.
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Similar to the 5 EMA, the 10 EMA is also considered to be a fast moving average
used primarily to define the direction of a short term trend. Often used by traders
who trade momentum price crossovers.
Observing the 10 EMA can help a trader remain on the right side of the market.
As with the 5 EMA the probability of capturing bigger trends increases on a cross
over with another, greater moving average such as 50 SMA, 100 SMA and/or
200 SMA.
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The 21 EMA helps traders to remain on the right side of the market. In other
words look to buy when the price crosses above it or sell when the price crosses
below it.
The 21 EMA is also a great trading tool for setting stop losses because it filters
out most of the market noise and lets the trader maximize gains from each
intermediate trend.
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The 50 day SMA moving average can act as a support level for an uptrend or
resistance level for a downtrend.
This particular moving average is also often used as a filter for momentum
traders who follow foster moving averages such as the 5 EMA or 10 EMA. When
the price breaks above the 5 EMA and the 50 SMA there is an opportunity to go
long.
The 50 day simple moving average is an important indicator to watch as markets
generally bounce on the first pullback at this level.
The 50/200 crossover is one of the most important long term trend indicators in
the market and has been for many years.
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The 100 day SMA (Simple Moving Average) is a slow moving average which
often acts as a support and resistance line between the 50 SMA and 200 SMA.
If the 50 SMA support has been crossed the next support line a trader should pay
attention to is the 100 SMA. This support level is often observed and traded by
investment fund traders so it’s worth paying attention to it.
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The 100 SMA is a great moving average for trading pullbacks when the price
bounces off these levels to continue in the direction of the trend.
The 100 SMA can be used in long term and short term trading with price
crossovers, another faster moving average crossover, and on pullbacks.
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1. Price crossovers
A price crossover is one of the most fundamental signals in trading which
removes all emotion. When the price action crosses a specific moving average, it
can be used to identify shifts in momentum and is often used for entry or exit
points.
2. MAs crossovers
When a short-term moving average (fast MA) crosses above or below a
long-term moving average (slow MA) we get a moving average crossover signal.
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To identify overall trends and long-term support and resistance levels big
investment funds use the 50 day SMA, 100 SMA and 200 day SMA for
reference. Big investment funds are the main market movers so observing these
levels is very important.
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You already know how tough it is to trade Forex profitably.
There are hours and even days when charts remain flat.
Prices can spike when you least expect it and either they
take you out at your stop loss or they make 30-40 pip moves
when you aren’t in any trades. You can have a couple of
great winning days in a row and then BAM! You give it all back
plus some when price action starts working against you.
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Just because you’re a “day trader” doesn’t mean you should be
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How to identify the perfect trade entry points using multiple, trade verification safety checks so you can have unparallelled confidence in the trades you place.
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The most intelligent and reliable way to trade effectively so you constantly pocket profits.
The real secret to trading full time if you want to really supercharge your income.
Multiple trade-entry confirmations so you can avoid false signals.
Consistently use multiple time-frames so you can catch the big swings right as they happen.
Almost unlimited access to ask trading master Michael Nurok any questions you have so you can make this Forex system work for you.
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A little known strategy that squeezes the maximum profit out of your take-profit levels, plus even more money on top.
Reliable, built-in alarm system which alerts you whenever the market conditions are detected as being perfect for major league trades so you can experience a life of freedom yet never miss a profitable trading opportunity.
A unique trick that allows you to fine tune your trade entry points based upon the particular market conditions that day.
How to completely eradicate the pressure and stress you are experiencing right now, even if you lose over half of your trades.
The full truth about Forex trading including the bad and downright ugly realities all traders face… and how to work around them and actually use them to your advantage.
7 simple and effective strategies so you can extract pips from the market on a daily basis.
Full automation of absolutely EVERYTHING you would want to automate, with full human oversight over the critical areas you should never leave in the hands of a computer program.
The ultimate system template you can install in seconds and an intelligent wizard that makes sure you never miss the perfect set-ups that occur on almost a daily basis.
Trend Profiteer is the real deal… and tomorrow is the last day you can get 50% off everything…
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HOW TO LEARN FOREX FOR FREE AND GET FREE PDF #forex
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Our Easy Deposit Bonus just got even better!
We’ve bumped up the bonus all the way to 2000%! If you make a deposit greater than $10, your bonus funds will be 2000% of your deposit amount. In other words, if your deposit is, say, $20, you will get $400 in trading funds!
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Are you ready to see the path to lasting wealth take shape right before your eyes?
Good, you’re going to love this.
You already know why you need to manage your money when you trade and you also know why you need to use the power of compounding to exponentially grow your account.
So let’s combine everything you learned over the last few days and show you the possibilities.
In the example from 3 days ago, you were shown how the Trend Finder system could deliver massive profits, even if you lose half of your trades…
We will use the same example to show you the power of compounding...
So, you have $5,000...
You risk 2% of your account, per trade…
You trade with a 1:5 risk:reward ratio (meaning you risk $100 to make $500 at the start)
And you win 50% of your trades. (Which is less than you can expect with Trend Profiteer)...
Over 10 trades, with 5 wins and 5 losses, the math works out at:
(5 x $500) - (5 x $100) = +$2,000.00
You have a profit of $2,000.00...
You could make those kind of returns starting today when you join Trend Profiteer for a FRACTION of the normal price...
So here’s where things get incredibly interesting…
Rather than removing your $2,000.00 profit from this example... instead reinvest that money back into your trading account.
And keep reinvesting your winnings, never risking more than 2% on a single trade.
Here’s how compounding could exponentially grow your account to more than 1 million dollars, over time:
(Assuming every trade has a 1:5 risk:reward ratio and you win 5 out of every 10 trades)
Get started on your journey today...
As you can see in the chart above, it could pay to reinvest your winnings back into your trading account... so the power of compounding could rapidly accelerate your income growth.
You only ever risk 2% of your account on any single trade, and every ten trades, you re-calculate how much 2% of your account is.
You can see a clear path to making over a million dollars, and this example is based upon winning just 50% of your trades. (Trend Profiteer could win between 69% - 91% of trades.)
You can see how your balance could grow modestly at first...
Then as time passes, look at the increasing jumps you could make in your earnings...
To help you visualize the possible exponential growth of your trading account, here are the same numbers plotted onto a graph:
Click here to get all the tools that could exponentially boost your income...
You could do this…
You could make trading work…
You could enjoy the peace of mind and freedom that successful Forex trading delivers...
The ONLY thing you need to do is...
Just give the Trend Detector premium trading tools and Cone's education a chance...
You can start your trial of Michaels premium trading software today...
P.S. Exponential growth, compounding and all these other fancy terms mask the simplicity of the strategies Cone will share with you when you become a member.
Cone has already proven his system has the power to deliver $42,380.72 in just 30 days, and you will get the exact same professional tools he used to do that…
PLUS he will show you exactly how you could do the same…
Imagine if you made over 40 grand in a month… what would you spend it on?
I hope you would consider reinvesting it, although you would be free to spend it on anything you like.
This is your chance to secure the wealth your future deserves...
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