Forex Signals

When watching your charts, draw an uptrend line below the bar pattern formation. You’ll notice that the price will respect the trend line. The more times it touches and bounces back, the stronger is the trend line. When the trend line is broken, it may signal for a reverse trend formation.

According to a Triennial Central Bank Survey of 2004, the highest currency distribution of reported FX turnover is the U.S. Dollar. Second to that is the Euro, then comes the Yen, Pound sterling and a bunch of others.  Comments?

Market price moves in waves. On each AB move there is a BC retracement. Although we can easily join to the obvious uptrend at AB stage, it would take some n erve to watch the price going against us to some C point.  What if the price never makes a U-turn? This could mean a trend reverse and our losses as well.

Thats why Forex Signals are so important.  They let you know precisely when to get in and out. They help you with these sorts of questions, especially the question of your “nerves.”

Has anyone tried bill poulos stuff? I’m looking for input on a couple of his forex products, let me know what you know in the comments section.

I’ve been working on a lot of other forex related stuff lately so haven’t posted here in a while, so sorry about that. Keep checking back, there’s some more blog posts coming here related to forex in the near future, I won’t neglect this blog like I have in the past, hopefully!

Best computer for trading in Forex?

“I am planning future possibilities of trading in Forex (foreign exchange). If you are familiar with this then please give me recommendations of what would be a suitable computer system for doing this? I want information of actually desktop computers such as brand and memory.”

These are some basic recommended requirements:
Computer: Intel Pentium IV 3.0GHz, 512 MB RAM, or higher
Web browser: Microsoft Internet Explorer 6.X and up
Mac users: The site is not currently compatible for Safari, we recommend Firefox
Internet connection: Broadband 1.5 MB download speed, 256 KB upload speed

Minimal Requirements
Computer: Intel Pentium II (AMD/ Celeron equivalent) 500 MHz, 128 MB RAM)
Web browser: Microsoft Internet Explorer 6
Internet connection: ISDN 128 KB download/upload

“I am currently woking within the forex market as a traders assistant but am now ready to become a trader. Please can someone give me some advice where to start.   I feel I have reached the end in my current role so would like something with more responsibility and with a good salary and benefits. I was thinking possibly a role as an fx trader.”

It sounds like you know what direction you’d like to head in with your career.  I suggest  investing  in some of the free trading platforms to have a practice on trading the markets.  That will give you an edge and help you move onto the next level of your career.  Good luck!

Can you buy and sell oil futures or index similar to forex? I trade in the forex market. What I like about it is that I can buy and sell any currency; therefore I can make money in a bull or bear market. I would like to know if it is possible for me to buy and sell crude oil etc in a similar way?

Yes you can.  Spot gold, silver and oil trades are executed in much the same way as foreign currency pairs are traded over the FOREXYARD platform, with transactions being made against the dollar, and as with currencies.

Here are the basic points, tips and systems to get started (and move ahead) with online forex trading:

1. Open a demo account.
2. Practise on it for a month or two.
3. Get thoroughly acquainted with the platform, system and methods.
4. Try different demo accounts with forex companies online.
5. After you’ve trained with your demo account, move on to a real account for live trading.
6. Choose a good broker (eg InterbankFX) supporting the Meta Trader platform. Ask for one that offers a good leverage. It’s your key to profiting from the forex markets.

What are pivot points in forex trading?

A pivot point is not exclusive to the FX markets. You can use pivot points in stocks, futures, etc. A pivot point is a calculation based on the high, low & close price of the previous day. A pivot point is a “possible” point where prices could turn. Or if prices exceed that point, then it could act as potential support/resistance (depending on which way the market is moving). If prices fall below the pivot, then it could now act as resistance. If prices rise above the pivot, then it could now act as support.