TRADE USING SCALPING SYSTEM

strategy that can be used to trade the forex market for profits,it called scalping.Below is the strategy.you should modify the macd indicator and input the parameters (10,24,7)on the 15 minutes chart.you should also insert the exponential moving average (EMA 4) and the linear weighted moving average (LMA 10)on the 15 minutes chart.But i must say you should be very disciplined using this strategy,as it is not meant for greedy,gluttonous and non disciplined traders,if you know your emotions cannot with stand the volatility of the forex market dont trade this strategy.

HOW TO INTERPRETE THE INDICATORS:
Exponential moving average (EMA 4) and linear weighted moving average (LMA 10) is used to identify the trend,and the macd indicator as a confirming indicator.

BASIC SYSTEM RULES:

BUY SIGNAL
When EMA 4 crosses or punches through the LMA 10 going up,and confirmed with the macd indicator that is the histogram starts appearing above the zero line .

SELL SIGNAL
When the EMA 4 punches through the LMA 10 going down,likewise confirmed by the macd histogram being below the zero line.

Get the trend as early as you can and follow the trend to maximize your profit.using this system on the 15 minutes chart is 15-25 pips is a realistic initial profit target expecaily if you are trading the gbp/usd usd/jpy eur/usd pairs.

HIDDEN SECRET:
An additional advantage for traders technical is when there are no major news affecting the market,there will always be a clear trend for the day trading.know when the news is coming out and close any of your trades 10-15 minutes before news is released.

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TRADE USING SCALPING SYSTEM

strategy that can be used to trade the forex market for profits,it called scalping.Below is the strategy.you should modify the macd indicator and input the parameters (10,24,7)on the 15 minutes chart.you should also insert the exponential moving average (EMA 4) and the linear weighted moving average (LMA 10)on the 15 minutes chart.But i must say you should be very disciplined using this strategy,as it is not meant for greedy,gluttonous and non disciplined traders,if you know your emotions cannot with stand the volatility of the forex market dont trade this strategy.

HOW TO INTERPRETE THE INDICATORS:
Exponential moving average (EMA 4) and linear weighted moving average (LMA 10) is used to identify the trend,and the macd indicator as a confirming indicator.

BASIC SYSTEM RULES:

BUY SIGNAL
When EMA 4 crosses or punches through the LMA 10 going up,and confirmed with the macd indicator that is the histogram starts appearing above the zero line .

SELL SIGNAL
When the EMA 4 punches through the LMA 10 going down,likewise confirmed by the macd histogram being below the zero line.

Get the trend as early as you can and follow the trend to maximize your profit.using this system on the 15 minutes chart is 15-25 pips is a realistic initial profit target expecaily if you are trading the gbp/usd usd/jpy eur/usd pairs.

HIDDEN SECRET:
An additional advantage for traders technical is when there are no major news affecting the market,there will always be a clear trend for the day trading.know when the news is coming out and close any of your trades 10-15 minutes before news is released.

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TRADE USING BREAKOUT SYSTEM

This trading strategy is a simple way of building long term wealth because there is no correlation in the market between the complexity of an indicator or method and its success.In fact the opposite is true. Most of the world’s top traders who have made consistent profits have used systems that are essentially simple. Simple systems are the best because their logic is easy to understand and implement. If the system is easy to understand, it is easier for a trader to execute it with discipline. There is no point in having a system unless you have confidence in it, to trade it with discipline, even when faced with a losing run of trades.There are some trades that are more valid than others and the probabilities of the breakout turning into a strong trend are greater. we need to look at some basic criteria for a evaluating breakouts in terms of their probability of success.Generally, the more times a line of resistance or support has been tested the more important the violation will be if the breakout occurs. We generally never trade less than three tests. What I am trying to say is, you need a minimum of two to three relative equal highs and lows to have a true consolidation base.The timeframe between the tests of resistance and support is also important, likewise the longer the support or resistance has been in place, the more valid the break will be when it comes. Trading breakouts is a great method of catching the really big moves that can pile up big profit – that is the aim of all traders. Every trader could use a breakout system if they want to. The fact, however is that they don’t. The fact that the bulk of traders don’t want to is the reason why the system works and will continue to work and make mega profits for those that understand the simple concept.Once a clear break has occurred, the odds are the trend will continue in the direction of the break. If the trend reverses quickly, and goes back to the breakout point rather than continuing , the break is likely false. Stops should therefore be at or near the breakout point. Look for opportunity when the price or market is consolidating; the more the consolidation the more the volatility will be or breakout. Also check out for double tops or bottoms and candle sticks patterns that trade the same low. That will serve as the tunnel and you will be watching for any candle that will break any of the lines and make your trading decision as fast as possible.

The trade setup:
Insert E MA 200 as the trend line EMA 8 as the fast and EMA 20 is to confirm the breakoutEntry rule:Once the price breaks through one of the trend lines and a current price bar closes outside the tunnel, place a buy/sell in the direction of the breakout. If price penetrates the trend line but did not close outside the tunnel cancel the previous trend line and draw another one according to the new conditions.

Exit rules:
You could set 30 to 20 pips or you could trail your profits by setting 5 to 10 pips below or above the trend line and apply trailing stops of 15 or 25 points, although it is believed that the price after the breakout from the tunnel will be more than the width of that tunnel, so expect more pips.

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PIVOT POINT STRATEGY

These are a forex trading strategy that you can try out on demo for at least two months before going on a live account.First look at prices in relation to any of the pivot points- R1, R2, PP, S1, S2, ie what is price doing at the nearest pivot point,is it punching throough a pivot point or is it retracing, then the secondary inputs of the indicators macd and the 9 and 18exponential moving averages on the one hour chart and entry with the 5 minute chart.

THE TRADE:
plot the two moving averages on the one hour chart and give it different colours to identify the trend for the currency, then plot the macd indicator on the one hour chart too,if the macd line punches through it trigger line and it is above the zero line ie -0.000 look to the 5 minutes chart and check to see if only the signal line has crossed below the zero line -0.000 (not both lines of the macd line)then look to enter as close to the pivot point that was penetrated as possibleand target the next pivot point for your profit.

SUMMARY:
Wait for a break of a pivot point and a retracement to the pivot point,look at the one hour macd chart to see if the macd and signal line is crossed in the direction of the trade you are considering to take.Also look at the 5 minutes chart to see ifthe signal line has crossed over the zero line in the direction of your trade if this is achieved enter as close tothe pivot point as possible and target the next pivot point in your calculated pivot points totake profits.Note: be conservative in the use of this strategy and look for 25-40 pips as profit daily.In addition to using this strategy you can take your signal from where the last candle stick closses in relation to any of the pivot point on the one hour chart.This strategy is relatively simple to use but please remember to keep it simple always no trading strategy is expected to complex.

BUY SIGNAL
when the candle closes above any of the pivot point

SELL SIGNAL
when the candle closes below any of the pivot point


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HOW TO TRADE USING TECHNICAL INDICATORS

1. PIVOT POINTS:
These are basically points of reference and they are used by all professional traders in the market.They are used to identify important levels of support and resistance.simply put it is a point at which the price is expected to basically change its direction.The pivot point originated from the floor in chigago in the usa and is made available to off floor traders like you and me to use in trading.The pivot point consist of the R2,R1,PP,S1,S2

Method of use:
Never buy above the pivot point and never sell below the pivot point
(as in general guide line or rule)

BUY SIGNAL
when support or resistance is breached upward

SELL SIGNAL
when support or resistance is breached going down.

Note:This indicator should not be used in isolation.

2.MOMENTUM:
This is an indicator /oscillator that measures the rate of change in the price of the currency.It calculates the difference between todays closing price with that of ten days ago and plots the results around a zero line.

Method of use:

BUY SIGNAL
When the indicator reaches the bottom of a downward curve and begins to grow.

SELL SIGNAL
When the indicator touches the top of an upward curve and begins to point down.

3.MOVING AVERAGES:
Moving averages are basically used to define the trend of a currency whether it is an uptrend or a downtrend.There are four types of moving averages 1.simple MA,2.exponential MA,3.smoothed MA,4.weighted MA.They all differ only in terms of the weight coeficiency that was calculated to the latest data.

Method of use:

BUY SIGNAL
when the price (candle stick)rises above the MA.

SELL SIGNAL
when the price is (candle stick )fall below the MA

MOVING AVERAGE CONVERGENCE AND DIVERGENCE(MACD):
This is an indicator that follow the trend of the market.It is made up of 12 period exponential MA,and 26 period exponential MA and a bar chart.

Method of use:

BUY SIGNAL
when macd crosses the signal line upward

SELL SIGNAL
When macd crosses the signal line down it is a signal to sell.

NOTE:it is advisable to wait for a confirmed crossover before taking action.

5.RELATIVE STRENGTH INDEX(RSI):
It is a price following oscillator that ranges between 00 and 100.It is used to know when the market is overbought ie reading from 70-100 and when it is oversold ie readings below 30-00.

Method of use:

BUY SIGNAL
Reading of 30-00

SELL SIGNAL
Readings of 70-100

The idea here is to develop a trading strategy and style that of course you must stick to and be disciplined about it to really succeed in forex trading which i must tell you can be highly lucrative.

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ALL YOU NEED TO TRADE FOREX PROFITABLY


Before you can make it big in the forex market,there are traits or building blocks that i believe to be the foundations to the forex profit.below are the traits you need to have.

Trait one

currency trading is not a get rich quick scheme or platform.currency trading is an art or skill that takes time to master.skill traders can and will always make money in this field,nonetheless like any other business or career,success don't just happen overnight.here is a success formula in forex trading. practise +patience+persistency= profitAs it is said there is no substitute for hard work,practise your strategy on demo account and pretend that the virtual money is yours.Do not open a live account until you consistently making profits on your demo.stick to your trading style and strategy and you will succeed.

Trait two

Follow on or two major currency and stick to it.it is recommended that traders choose one of the four major currency pairs.the eur/usd is the most commonly traded pair because of its spread is the best due to its liquidity .The usd/chf is usualy the most volatile and moves the most during the trading week.The usd/jpy responds to a lot during news time out of japan,and the gbp/usd is more stable in its move than the other three pairs.so choose the currency pairs that appeals to you and fall in love with it.

Trait three

Understand the daily forex news and analysis. it is very important to get a birds eye view of the currency pair that you want to trade and the news that affect the currency. it is also important that you get to know the key technical support and resistance levels of the pair you are about to trade .support is a predicted level to buy,while resistance is predicted level to sell ie where the currency pair should move down the chart.fortunately all the the best forex news and anlysis are offered up for free on the internet.

Trait four

Learn how to use technical indicators and always use stop loss.it is wise to be patient and learn how to use the technical indicators on your chart.it is also very important when you are trading forex that you be very disciplined and stick to your trading style or strategy.dont just trade your got to feelings,trust those technical indicators and don't open any trade without using stop loss.

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FOREX MARKET AND LOCATION

The market is a seamless 24 hours market and it runs 5 days a week. The market opens 5pm on Sunday(new york time,trading starts in sydney and Singapore and finally goes round the globe to get to new york at 8 am.

note:the forex market has no central location it just virtually follow the sun round the globe.

How To Start Trading The Market Online:

Before you will begin to trade the forex market or participate in it you will need the services of a broker or a market maker to be able to trade.

How to trade :

There are basically to ways to trade the market or better still to analyze the market and then be able to participate for profits or pips.

Fundamental analysis

funadamental analysis focuses on the macro economic indicators such as interest rates economic growth,inflation,import and export, employment etc as it affects the countries currency that you are going to be trading with.ie These factors or indicators drive demand and supply for the countries currency one thing to note is to be aware of when these indicators will be released.

Technical analysis:

This type of analysis uses historical price movement that is charts to forecast or tell the possible move and direction that the currency pair is going to take.This analysis basically uses different chart patterns to identify trends in their earliest stage so as to take profit .


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