In forex or stock market, we can make or lose money when the price goes up and down. We need to be able to predict the direction of the market. Different traders do it using different methods but for most traders, technical analysis of the price charts is the easiest way. So they spend a lot of time to learn technical analysis. Read the rest of this entry »

In the article I wrote about technical analysis, I explained that everything you see on the price charts, including trendlines, triangles, pennants, flags and … are all created by support and resistance levels which are in fact selling and buying limit levels. In this article I want to talk about these formations in more details and show you some strategies that you can use to take proper positions. You can use the techniques you learn here both in forex and stock market. Read the rest of this entry »

Hello my friends

I just finished the article I had been writing about technical analysis and the way you can use it in forex and stock market. I wanted to explain everything about technical analysis in one article but became realized that it it is not a good idea and I have to write different articles for it.

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Technical analysis is the science or skill of forecasting of the future movements of the price using the past movements and data.

Obviously the past movements can not guarantee the future movements and so technical analysis is not a hundred percent accurate and surefire forecasting but if you learn the technical analysis properly, you can make more correct predictions and so you will be in profit at the end. Read the rest of this entry »

Hello my friends

As you saw today it is good to take a look at the weekly chart at least once every week. This is what we did last night and you saw the result during the day. Weekly chart signals is even more important than the monthly because monthly is a very big time frame and doesn’t work for most of the personal traders like you and me. It is good for the banks and big super swing traders.

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Hello my friends

Today was a slow day again but don’t worry. Forex market will not be stopped and we will have big changes and movements again and again.

You have two options when the market is slow. You can stop trading and just check the one hour and 4hrs charts while you have plotted the trends and patterns and you know what you are waiting for. Then you can take the proper position when the price breaks out of the range.

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Hello my friends

So did you enjoy the breakouts? I saw some of you succeeded to take the proper positions and make some money. If you were not on time enough to take the proper position or you lost money due to taking a wrong position don’t be upset or disappointed. You will be able to take the advantage of the next opportunities.

Just keep in your mind that if you are losing more than what you make, you have to stop trading with the real account. One of my friends who is a very experienced trader says that you are qualified to trade with a real account only if you can triple a demo account. It doesn’t matter how long does it take to triple a demo account. Two months or one year. As soon as you can do that, you are a forex trader.

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Hello my friends

Today was a slow day. Mondays are usually slow maybe because most of the big traders do not open/close their positions on Monday. The banks’ traders need one day to analyze the market and decide about the next positions because they are swing traders and one day doesn’t make a big difference for them.

On the other hand, the market, economy and business is slow in general because of the all of the bad news that can be heard everywhere about the USA and USD recession. After the real Estate recession in USA and then UK, now the world is waiting for the credit card recession in USA. Waiting means indecision and inaction in different markets and specially forex market.

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Hello my friends

I researched about the Pivot Points during the weekend and wrote an article about what I learned. I was not used to use the Pivot Points but I think I will have them on my charts because I have learned that they are so helpful and sometimes more helpful than the Fibonacci levels. So in case you have not read my article, I suggest you to spend few minutes and read it. You will learn a lot of new things like me:
How to Use Pivot Points in Forex and Stock Trading? Read the rest of this entry »

I already knew that some traders use nothing but Pivot Points to trade but I had never used it because I had been stuck to my own trading system(s). This weekend I spent some time to research about Pivot Points and see how others use this indicator for their intraday trading and I found it really useful to have the Pivot Points on your charts even if we have a different trading system. Read the rest of this entry »