The Forex Indicators

CSR100

noreply@blogger.com (fenshim) — Wed, 10 Mar 2010 12:02:00 +0000

The forex technique that I would like to share with you guys is called CSR100. This technique was developed by JGV100 from Carigold.com. The technique is based on price action, support and resistance. We use support and resistance as our entry and price action to know the market trend. To be honest with you guys, this technique is the most easiest and understandable even by a forex newbie. First, we should know what is support and resistance.

Support
Support is any part at which the market stopped going down and turned up.

Resistance
Resistance is any part at which the market stopped going up and turned down.

Price Action
Price action is based on Low, High, Higher Low, Higher High, High, Low, Lower High, Lower Low.

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The New Forex Trading Technique

noreply@blogger.com (fenshim) — Mon, 08 Mar 2010 06:56:00 +0000

Actually, I would like to share a forex trading technique I find it simple but profitable. Honestly, I stick to this technique as my trading until now and sometimes I use different technique but still I prefer this good forex technique. It is easy, understandable, profitable and very good. Give me some times and I share with you guys.

To be continued..

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WolfeWave Technique

noreply@blogger.com (fenshim) — Mon, 18 Jan 2010 15:40:00 +0000

As I promised you, I wanted to share with you guys another forex trading technique that has been used by some forex traders. It's really simple but yet profitable and actually I'm quite new to this technique and I haven't use this technique in my forex trading. What I want from you is discuss about the technique and what we should do to improve it together.

This technique is called "The Wolfe Wave Technique". The technique is actually being used in a stocks market but it can also be used in a forex market. You can click here to know more.

The Wolfe Wave Technique is being used to find a balance of the market trend before using any indicators as a filter to convince us right before we enter a forex market.

Wolfe Wave Rules

Bullish

IMPORTANT POINT: If you use Wolfe Wave technique, you cannot begin looking for the Wolfe Wave until points 1, 2, 3, and 4 have been formed. Keep in mind that point 3 must be lower than point 1 for a LONG/BUY setup. Please note the odd sequence in counting, as you will see, it is necessary for the inductive analysis. By starting with a top we are assured of beginning our count on a new wave. Also, on the best waves point 4 will be higher than point 1 for a LONG/BUY setup.

The 2 point is a top.
The 3 point is the bottom of the first decline.
The 1 point is the bottom prior to point 2 (top), that 3 has surpassed.
The 4 point is the top of the rally after point 3.
The 5 point is the bottom after point 4 and is likely to exceed the extended trend line of 1 to 3.This is the entry point for a ride to the EPA line (1 to 4).
Estimated Price at Arrival (EPA) is trend line of 1 to 4 at apex of extended trend line of 1 to 3 and extended trend line of 2 to 4. Estimated Time of Arrival (ETA) is apex of extended trend line of 1 to 3 and 2 to 4.

Bearish

IMPORTANT POINT: If you use WolfeWave indicator, you cannot begin looking for the Wolfe Wave until points 1, 2, 3, and 4 have been formed. Keep in mind that point 3 must be higher than point 1 for a SELL/SHORT setup. Please note the odd sequence in counting, as you will see, it is necessary for the inductive analysis. By starting with a bottom we are assured of beginning our count on a new wave. Also, on the best waves point 4 will be lower than point 1 for a SHORT/SELL setup.

The 2 point is a bottom.
The 3 point is the top of the first decline.
The 1 point is the top prior to point 2 (bottom), that 3 has surpassed.
The 4 point is the bottom of the rally after point 3.
The 5 point is the top after point 4 and is likely to exceed the extended trend line of 1 to 3. This is the entry point for a ride to the EPA line (1 to 4).
Estimated Price at Arrival (EPA) is trend line of 1 to 4 at apex of extended trend line of 1 to 3 and extended trend line of 2 to 4.
Estimated Time of Arrival (ETA) is apex of extended trend line of 1 to 3 and 2 to 4.

Wolfe Wave Pattern

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accurate forex signals
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candlestick
currency trading
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Welcoming 2010

noreply@blogger.com (fenshim) — Fri, 01 Jan 2010 08:21:00 +0000

First of all, I would like to take this chance to say Welcome 2010 & as we move on the new year we're expecting to be much more better than the previous year. So this 2010, I set my resolution to be better.

In my next post, I will add some new stuff and it's forex trading styles. I will introduce the forex trading style first and post it here and together we discuss how to use it. Thanks.

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accurate forex signals
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candlestick
currency trading
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Forex Trendlines Ebook

noreply@blogger.com (fenshim) — Wed, 23 Dec 2009 11:58:00 +0000

I would like to share another great forex ebook & it's called Forex Trendlines. In this ebook, it taught you how to draw trendlines on a forex chart properly and how to identify that trendlines. The important of trendlines is that it helps you to see where the market will go after that and it will helps you in forex trading.

Click Here To Download

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Learning Forex

noreply@blogger.com (fenshim) — Fri, 18 Dec 2009 15:43:00 +0000

Thanks for those who have commented on my blog, for those who are really interested to learn forex, you can read from my previous posts or you can click from the above tabview (Forex Study), it's really good for you to start, if anything do not hesitate to ask = )

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Fibonacci Calculator

noreply@blogger.com (fenshim) — Fri, 18 Dec 2009 15:25:00 +0000

For those who are struggle with fibonacci, I would like to donate one of my fibonacci indicator actually calculator which might help you how to identify the fibonacci numbers, it's really simple and as a matter of fact, it is really useful for those who don't know how to apply fibonacci.

Click Here To Download

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Top US Market Moving Reports

noreply@blogger.com (fenshim) — Thu, 12 Nov 2009 14:51:00 +0000

Employment Growth
Interest Rate Decisions
Trade Balance
Gross Domestic Product
Retail Sales
Durable Goods
Inflation Reports (Consumer Price Index & Producer Price Index)
Foreign Purchase Report (TIC Data)

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Simple Relax But Profit Ebook

noreply@blogger.com (fenshim) — Wed, 11 Nov 2009 11:19:00 +0000

This is another great forex ebook you need to have!!

Click Here To Download

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Trading The News

noreply@blogger.com (fenshim) — Tue, 10 Nov 2009 08:18:00 +0000

Which pairs should I trade anyway?

USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD

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What Should Be In Your Trading Plan?

noreply@blogger.com (fenshim) — Mon, 02 Nov 2009 10:40:00 +0000

1. A Trading System

System that you have thoroughly backtested & traded for at least 2 months.
Currency pairs you trade & how many lots you trade.

2. Your Trading Routine

When will you analyze the market & plan your trades.

3. Mindset

Put away all your emotions when trading.

4. Your Weaknesses

How you will ever getting better.

5. Your Goals

To be confident & discipline.

6. Your Trading Journals

Evaluate all your trades & see your progressing.

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Money Management

noreply@blogger.com (fenshim) — Thu, 29 Oct 2009 09:05:00 +0000

Plan Your Trade & Trade Your Plan

Why have a trading plan?

It keeps you in the right direction.
Trading is a business & successful businesses ALWAYS have plans.

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Daily Open Line

noreply@blogger.com (fenshim) — Wed, 28 Oct 2009 08:33:00 +0000

I would like to share another great indicator that will help you guys to determine the forex range market. Click below:

Daily Open Line

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Market Hours (Know When To Trade)

noreply@blogger.com (fenshim) — Mon, 26 Oct 2009 05:29:00 +0000

Market Hour
3 major trading sessions: Tokyo Session, London Session & US Session

Worst Time To Trade

Fridays
Sundays
Holidays
News Events

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Create Your Own Trading System

noreply@blogger.com (fenshim) — Wed, 21 Oct 2009 06:00:00 +0000

Goals Of Your Trading System

Your system should be able to identify trends as early as possible.
Your system should be able to avoid you from whipsaws.

6 Steps Setting Up Your System

1. Timeframe

What kind of traders you are. (Swing or Day Trader?)
Which timeframe you will use to trade.

2. Find Indicators that help identify a new trend.

Use Moving Averages (MA) to identify a trend.
Use 2 Moving Averages (1 fast & 1 slow) and wait until fast crosses slow.

3. Find Indicators that help CONFIRM trend.

MACD, Stochastic, RSI.

4. Define Your Risk.

The amount you're willing to lose.

5. Define Entries & Exits.

Where to enter & exit to get most profit.
Wait until candle close.

6. Write Your System Rules & Follow It.

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Relative Strength Index

noreply@blogger.com (fenshim) — Fri, 16 Oct 2009 06:18:00 +0000

Another great forex ebook that tells you how to use RSI or Relative Strength Index..

Click Here To Download

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ABC Correction (Corrective Waves)

noreply@blogger.com (fenshim) — Wed, 14 Oct 2009 12:44:00 +0000

The 5-wave trends are then corrected & reversed by 3-wave countertrends.
Letters are used instead of numbers to track the correction.

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Wave 2

noreply@blogger.com (fenshim) — Mon, 12 Oct 2009 04:07:00 +0000

Wave 2
As the point enough people who were in the original wave consider the stock overvalued & take profits which caused the stock to go down for a while but not going down to its previous lows and move up again.

Wave 3

Longest and strongest wave.
Has caught the attention of the mass public.
More people find out about the stock & went to buy it.

Wave 4

People take profits because the stock is considered expensive again.
Tends to be weak because there are usually more people on bullish & waiting to buy.

Wave 5

This is the point most people get on the stock.
The price is going up.

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5-wave Impulsive Pattern (impulse waves)

noreply@blogger.com (fenshim) — Sat, 10 Oct 2009 09:34:00 +0000

Wave 1

Caused by a relatively small number of people that all of the sudden feel that the price of the stock is cheap so its perfect time to buy & cause the price to rise.

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Elliot Wave Strategy

noreply@blogger.com (fenshim) — Sat, 03 Oct 2009 13:13:00 +0000

The 5-3 Wave Patterns

It shows that a trending market moves in a 5-3 wave pattern. The 1st 5-wave pattern is called impulsive waves and the last 3-waves pattern is called corrective waves.

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Summary

noreply@blogger.com (fenshim) — Thu, 01 Oct 2009 10:39:00 +0000

Summary

You have to decide what the correct time is for YOU.
Once you've preferred time frame, go up to the next higher time frame to make a strategic decision.
Make a habit to look at multiple time frame when trading.
Choose a set of time frames that you are going to watch (15min, 4hr, Daily preferred).
Don't look too many time frames.
Stick to 2 or 3 time frames.
Use a long-term chart to find the trend.

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Intraday Trading

noreply@blogger.com (fenshim) — Wed, 30 Sep 2009 09:04:00 +0000

Intraday

Use minute charts (1 min, 5 min).
Traders are held intraday & exited by market close.

Advantages

Lots of trading opportunities.
Less chance of losing months.
No overnight risk.

Disadvantages

Transaction costs (spread) will be much higher.
Mentally are more difficult due to frequency trading.
Profits are limited by needing to exit at the end of the day.

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Short Term Trading

noreply@blogger.com (fenshim) — Mon, 28 Sep 2009 12:03:00 +0000

Short Term
Traders use hourly time frames & hold trades for several hours to a week.

Advantages

More opportunities for trades.
Less chance of losing months.
No overnight risk.

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accurate forex signals
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currency trading
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Multiple Timeframes

noreply@blogger.com (fenshim) — Mon, 28 Sep 2009 02:57:00 +0000

When comes to choosing best time frames for trading, we should consider which one works well with our personality.

Trading time frames are usually categorized into 3 types:

Long-term.
Short-term or swing.
Intraday or day-trading.

Time Frame Breakdowns
It depends on your personality.

Long-term
Traders will usually refer to daily or weekly charts.

Advantages

Don't have to watch markets intraday.
Fewer transactions means less paying or spreads.

Disadvantages

Large swings require large stops.
Usually 1 or 2 good trades a year so patience is required.
Bigger account needed to ride longer term swings.
Frequent losing months.

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Forex Trading Tips

noreply@blogger.com (fenshim) — Wed, 23 Sep 2009 12:49:00 +0000

Never invest your real money in forex trading until you really really succeed. Trade on a demo account first until you can make profits from it and you are satisfied with your forex system. The most important thing is money management, this is actually how you manage your account so you can minimize you loss and maximize your profits.

p/s: If you are still not success with your demo account, try to look what makes you don't make any profits and keep trying until you get the picture.

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accurate forex signals
reversal patterns
candlestick
currency trading
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