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ForeX Trading for Maximum Profit

Monday, January 23rd, 2012

forex bookWho said ” you can’t teach an old dog a new trick? ” I have read many many books over the years on markets of various types. Though I have not traded the 24 hours Forex market, I have traded the currency markets as well as the futures, stocks and options. I have been student of all kinds of systems, Fibonacci and Elliot Wave, Gann - have used dozens of indicators, yet I am always looking for something more to learn. I figure that if I can learn just a bit more I may become a better trader.

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EUR/USD News: Trading the German ZEW Economic Sentiment Index

Friday, January 20th, 2012

The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts regarding their views on the outlook for the German economy. A reading that is higher than the market forecast is bullish for the Euro.

Here are all the details, and 5 possible outcomes for EUR/USD.

Published on Tuesday at 10:00 GMT.

Indicator Background

The German ZEW Economic Sentiment surveys financial experts for their assessment of the direction of economy in the next six months, based on economic data including inflation, exchange rates and the stock market. This makes the index an important indicator of the medium-term future of the German economy.

The indicator has been on a steady downward trend since February 2011, marking sixteen consecutive months of lower readings. Last month, the indicator hit an alarming -55.2, and there seems to be no end in sight to this gloomy picture. The markets are predicting a further drop for December, albeit very slight, to -55.7.

Sentiments and levels

Europeans leaders seem unable or unwilling to implement badly need measures to resolve the eurozone debt crisis, which, of course, will not simply disappear on its own. The Euro will continue to be affected by the crisis, and recent interest cuts by the ECB makes the Euro less attractive against other currencies.

Technical levels, from top to bottom: 1.3650, 1.3550, 1.3480, 1.3420, 1.3380, 1.3280, 1.3212, 1.3145, and 1.3080.

5 Scenarios

1. Within expectations: -61 to -49: In such a case, the Euro is likely to rise within range, with a small chance of breaking higher.
2. Above expectations: -48.9.9 to -44: An unexpected higher reading can send EUR/USD well above one resistance line.
3. Well above expectations: Above -44: This would indicate more confidence in the German economy. A second resistance line might be broken on such an outcome.
4. Below expectations: -66 to -61.1: A sharper decrease than forecast could push EUR/USD below one support level.
5. Well below expectations: Below -66: This scnenario is unlikely, due to relatively stable economic German indicators. In this scenario, the Euro will drop, and could break two or more support levels.

Source: forexcrunch.com

Forex Made Easy Book

Thursday, December 29th, 2011

forex book cover

If you newbie with Forex business, i suggest to buy this book, wih “Forex Made Easy” will help you step by step make decision to trading on the real market. A customer review who bought this book said:

Fact I dramatically increased my knowledge of market technicals after reading this book
Fact Technical indicators were scary to understand and use prior to reading this book
Fact After reading this book I bought Steven Nison A Candlestick Course
Fact After reading this book I bought John Bollinger on Bollinger Bands
Fact I would not know about either of these authors and their WORLD RENOWN work if it were not for James Dicks.
Fact I own Premiere Trade AI-Pro
Fact Though it took about a month to unlearn another major companies more expensive less accurate but Profitable SW (i owned for 18 months before purchasing PT-AI because I needed an Options analysis platform
Fact not only did I get an options analysis platform for the same price as my former platform company wanted to charge me, but I go t the stock analysis for free i got mutual fund analysis for free I got FOREX analysis for free. I got better diagramming scaling etc than I had from e-signal All this for the same low cost of one application of any other trade analysis company
Fact in the long run PremiereTrade cost about 1/4 the cost of any other platform
Fact My stock portfolio immediately became more successful rather than depending on red and green lights and moving averages.

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Forex Update Dec 19, 2001: Next EUR/USD support at 1.3010

Sunday, December 18th, 2011

FXstreet.com (California) - The euro is holding up well against the dollar considering the latest headlines out of the euro zone past Friday: Fitch rating agency put on review for possible downgrade several euro zone countries’ sovereign debt, while affirming France’s debt rating at ‘AAA’, however, “the market is still anticipating an S&P downgrade of France’s AAA rating this week,” says Sean Lee, Editor at Forex Live.

Technically speaking, as we start the week, “The EUR/USD quotes in a quiet range holding around a flat 20 SMA in the hourly chart, and lacking direction according to indicators,” observes Valeria Bednarik, Chief Analyst at FXstreet.com. “The upside seems however limited mostly on market sentiment and investors disappointment on the local crisis developments.” Last at 1.3035, support levels lie at 1.3010, 1.2980 and 1.2950, with resistance at 1.3070, 1.3100 and 1.3145.

Forex-Europe

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Fibonacci Retracement on Chart

Wednesday, June 20th, 2007

Well, Basicly Fibonacci retracement is very popular a technical tool to see where the market will move. Its mathematical number was announced by Leonardo Fibonacci in 13th century.

Investopedia.com: In technical analysis, Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.

Now, how I can put the indicator on my marketiva chart ?
Right click on chart, select Fibonacci Retracement.
Fibonacci Retracement figure 1

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Free Forex Basic eBook - Part One

Friday, March 16th, 2007

7 Steps - Learn to Trade Forex - Download it

- On this book you will learn how to manage of forex risk. This is the basis of every realistic trading strategy.
- Learn with 2 ways to forex trade. There are two types of traders, technical and fundamental. Both have a radically different approach to
making trading decisions. Click here to find out which camp you belong to.
- Basic of technical analysis
- Fundamental of Trader
- Psychology of Trading

Elliott Wave Basic Guide - Download it

- Elliott Wave Theory: The Basics
- How to counts wave.
- Minimize Forecasting Errors With Elliott Wave

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What is Forex Scam ?

Sunday, January 7th, 2007

On wikipedia, Forex Scam descripted as trading activities with the schema used to defraud forex traders by convincing them to take profit by trading in FX Market

For an example:
A trader who has come under such scrutiny is James. These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,improperly managed “managed accounts”, false advertising, ponzi schemes and outright fraud. It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.

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Free Forex Software

Sunday, December 17th, 2006

There are a lot of useful online trading software, specially forex trading, beside Marketiva streamer you could mixing the real data with others. One of this is ICTS WinTrader , this software allow you backtesting of Forex trading system and developed by Gordago Forex software.

forex softwareICTS WinTrader : Gordago Forex trading platform allow easy operate of Forex trading systems. Forex trader can run some Forex trading systems simultaneously. It’s possible to run some Forex trading systems on one symbol (currency pair).
ICTS WinTrader Download

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Signal Trading Strategy

Thursday, December 14th, 2006

Every trader have their own nice strategy, some only use indicators while others on dependent on forex signal. One of tools on Marketiva streamer give us the signal as “Compo Style”, this tool totally different with Forex Signal in general. Marketiva campo style is a forex trading signal generated by the Finamax team of foreign exchange traders. These signal notifications are based on an automated signal system that is able to detect trading opportunities using proprietary technical analysis techniques. The Campo Style signal notifications are not automated itself, because the Finamax Team members filter the signals based on their trading experience. We can concluded that Compo Style just an alert.

marketiva alert panel
Figure of Compo style in Marketiva

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Mouteki Trading System Video

Tuesday, November 14th, 2006

Basicly Mouteki is a method of trading use by many trader with drawing only with 2 indicators, the first indacator is Trendline and the second just a Horisontal line, its look not complicate than anothers indicators tools.
The main point just put 2 point under trend line if price indicate going to lower position or put 2 point above trend line if price indicate going to high.

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Named Victora Secret - Forex Trick

Sunday, October 22nd, 2006

I got some good article about little forex trick, its named Victoria Secret, one of article forex blog in Richie Forex Blog , wrote that Victoria Secret is a trick to take profit on top of bullish market. Some good pairs, to apply this trick are EUR/USD and GBP/USD. This trader said, after experiment start on 2005 until now, he got many fail but alot of glory.

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Drawing Graph Trend Line Chart Video

Tuesday, October 17th, 2006

One of the simple way to predict the next price on curreny market is draw simple trend line, trend lines are universally used by almost all traders. They are a common place for all traders to begin their technical analysi and its use by almost forex trader for swing in 123 trade. To add this line on marketiva streamer, right click on chart Indicators > Trend Line then select the color fo best view, make sure your Style chart in Line Chart, sample figure below this. the figure show red diagonal is Trend Line.
trend line 123

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Parabolic SAR

Sunday, October 15th, 2006

Another technical analysis indicator for forex trader is Parabolic SAR ,
basicly its use to determine the best time to enter or exit market. An intersection of the price with parabola is taken as signal to reserve the current trading position ( go from long to short)

To add this indicator, right click on chart: Indicators > Parabolic SAR, and make it default setting for best read this indicator

parabolic sar chart

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Moving Average (MA) Indicator

Friday, August 11th, 2006

Moving averageIf you want add Moving Average (MA) Indicator, just right click on chart graphic then click Indicator, now you can see Moving Average under Fibonacci Fan. Then Select Type, Period and Color, MA will appear under your chart.

And here is sample Moving Average with streamer.

About MA in Forex, Moving averages are one of the most commonly used technical tools. They follow the trend, smooth the normal fluctuations of the data, and clearly signal long and short positions to the investor.

This study displays moving averages as the normal crossover trading system. You may select up to three different averages.

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Related Terms: Forex Fan Indicator, Forex Ma Indicator, Marketiva Indicator, How To Use Indicator Marketiva, Marketiva Indicator Forex, Marketiva Indicator Setting, Belajar Indicator Trading,