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Contents contributed and discussions participated by Lucien Hardison


Basic Forex Trading Strategies - 0 views

started by Lucien Hardison on 27 May 12 no follow-up yet
  • Lucien Hardison
    How many scholars of those hundreds referred hereto resort to live examples while teaching long and short entries and close ups thereof Very few of them- B. However I would like to explain something that most people who use indicators but do not know this fact. With this said, now you will understand why forex trading indicators do mislead people. I personally stop using indicators as i mention all indicators are lagging indicators. Do a Google search on divergence and you will understand it within minutes, therefore I will not explain it here. Your trading system must not be just a mixture (farrago) of various techniques. After reading heaps of books on Forex , all of them make complaints about "such a mess in their heads instead of enlightenment". you must get used to work with the demo account according to this technique to such extent of automatism that you "sense' it as your own initial (original) trading system of the work at Forexc. You must clearly see what pointes, "borrowed" from other authors, can help you personally to work at Forex , to improve your trading system for getting extra profits. In a nutshell, a moving average calculates the average closing price for a certain number of previous bars (you choose the period). When 2 of these, set at different period intervals are put together on a chart, their crossing points sometimes suggest good places to enter and exit trades, or possible areas where the trend might reverse. Because of the constant shift in the directional bias in each currency pair, that "trending condition" exists less than 20% of the time in the Forex. What this means to the trader is when using indicators to identify profitable set-ups, those set-ups are going to occur infrequently. In fact, computer models show that when using a simple moving average or a combination of SMA's, a profitable set-up will occur once every 42 days. So the solution has been to attempt to develop an indicator that will find more frequent set-ups. Indicator based Forex systems usually use a set of custom indicators combined with rules to create entry signals. Sometimes there is even a Trade Assistant that checks the markets for you and alerts you when all criteria has been met (so you only have to look at the charts when there is the possibility of a trade). Here are two important tips I want to share with you to improve your results using any indicator trading system. Even beginner traders know it is safer and potentially more profitable to trade in the direction of the trend. 8871 there's an impetuous upward breakthrough, the Alligator rotating upwards, MACD above zero, MA8 having intersected MA21 upwards, the Williams vaunted Awesome Oscillator signaling long entry, the Accelerator Oscillator pointing up. To be noted much worth scrutinizing is the phenomenon of Nayman's "Trader's Minor Encyclopedia" and "Master-trading secret files" purported at understanding why over 90% of traders turn losers after reading the books. The solution, to my mind, is that the above opuses are but good "ABCs OF FOREX" thus giving birth to all Nayman's merits and demerits. The guy is primarily awardable for having spared beginners' paying USD50-200 to various Forex training courses or academies.

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