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Street Smarts: High Probability Short-Term Trading Strategies by Laurence A. Connors, Linda Bradford Raschke
CategoryMiscellaneous

The main secret behind efficient trading is the ability to listen to markets and follow a trend. Every successful trader is conscious that it is essential to develop a consistent and sensible trading strategy. Only a logical and elaborate strategy can bear fruit. 

The book is written by the two trading practitioners who are ready to share their views on the market. In the book, you will find a variety of trading systems/strategies and detailed guidance on a market entry/exit. In my opinion, the authors composed the book in an original style. It is a dialogue between professional traders who expand on many issues that novice traders have to deal with. 

Lesson 3: How to make money on Forex
CategoryFor Beginners

 

If you search the web for ways of earning money on Forex, you’ll find lots of controversial information. Some traders, who have apparently tried – and failed, tend to claim that Forex is a scam. Others view foreign exchange trading as a source of basic or additional income. The difference between these two viewpoints lies in the attitude to trading. Are you here to make money or simply to play? If you consider yourself a money-motivated person, this article might be helpful to you. So the points below with pros and cons are my answer to the question I’ve put in the title, i.e. “How to make money on Forex?”

Lesson 2: Key forex terms
CategoryFor Beginners

I’ve received a lot of requests to tell about forex terms I use in my articles. Though I try to put it simply and write in layman’s terms, sometimes I resort to trader’s terms. For example, when a car mechanic diagnoses a trouble with a cardan drive shaft, they will definitely tell you so rather than saying there is a trouble with a detail coupling a gearbox and wheels. Usually, only another car mechanic will understand them.

Forex Advisors rating
CategoryForex advisors

In recent years according to fast-growing popularity of Forex market the amount of automated trading systems grows as well.

Though the market represents more than thousand advisers it's really a hard work to choose the right one. The problem is that almost all robots available for free are narrow-specialized. As a rule, advisers are made by algorithm which brings profit under certain market behavior. That's why when choosing a robot you should make high demands to the duration, depth, and exit speed of the drawdown.

Perfectly, the drawdown shouldn't last more than a month and exceed 30% mark. Based on this, I don't understand why the bots built on the averaging or martingale base are placed on the top of the rating.

How to download forex advisor
CategoryForex advisors

If you decided to trade on Forex, but don’t have much spare time for it, there are several possible ways.

You can:

  • trade with a strategy that does not require much time (10-20 minute a day). Such strategies imply trading on high time frames (from H4 and higher) or use the method of breaking morning flat.
  • invest in PAMM accounts. You can look for suitable accounts to invest in anytime (even at weekends).
  • copy deals of successful traders onto your account through the ForexCopy system.
  • download and install an expert advisor for automated or semi-automated trading on Forex.

Comprehensive Course on the Wave Principle (A.J. Frost and Robert Prechter Jr.)
CategoryMiscellaneous

The Elliott Wave principle is considered to be the best instrument to analyze the market and forecast its behavior. Most market participants successfully use the principle to make investments or perform deals. In 1984, Robert Prechter, one of the authors of the course, won the US Trading Championship trading on a live account and set a record of the 444% return. However, no one has managed to beat this record yet. Reading the course you can assess fundamental and forecasting value of the Elliott Wave principle.

Lesson 1: What is Forex?
CategoryFor Beginners

Forex is an acronym for FOReign Exchange, an interbank exchange market, where currencies are traded at free prices. Forex emerged in 1971 after US President Richard Nixon undertook a series of economic actions that basically led to the abolishment of the Bretton Woods system. This system was developed after World War II in order to regulate commercial and financial relations between capitalist countries. 

At the Bretton Woods conference in 1944, delegates from 44 nations agreed upon new rules for the international monetary system. The new standards included

GBP/USD. TF H4 – Break of the trend line, reversal?
CategoryForex analysis

According to the analysis made on May 20, 2014, the GBP/USD pair has the biggest correction. At present, we can see formation of the bearish wave 3 of (3). Pay attention to the break of the trend line H4 and development of the bearish channel. On the chart below you can see my expectations concerning further movement of the pair.

Alligator H4 Trading strategy
CategoryTrading systems

Let me introduce you to the trading strategy resting on the Alligator indicator. The article on Alligator and Fractals by Bill Williams will give insight about the indicator. Therefore, I suggest that we should not expand on this matter here. So let’s consider the rules of a market entry. Judging by the headline, we are going to trade in the four-hour time frame. This time frame is chosen not by chance as market noise comes to naught in longer time frames and the number of false entries diminishes notably. 

GBP/USD: Н4-D1 time frame (mid-term), April 18, 2014
CategoryIndicators and signals

It seems that the upward move of the GBP/USD pair is coming to an end, so now it is time to look for market entry points for mid-term shorts. At the moment, trend reversal patterns are starting to form on the timeframes of H4-D1.

Н4 time frame:

• Bearish divergence;

• A falling Shooting Star at the highest level confirmed by the second bearish candlestick with its body exceeding over 50% of the bullish candle body (before the Shooting Star).

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