Hello

After several months that forex market have been moving strongly because of the economic recession, it has come to an indecision situation. It means there is a balance between bulls and bears and the market doesn’t know if it should go up or down. On the other hand, almost all of the big traders (like the banks and big hedge fund companies) are waiting for the economical and political decisions in Europe and USA and it can be expected to see less volatility in the market until it finds its direction. We really don’t have to take any position everyday. If we see a signal we get in. If we don’t see a signal we just wait for a signal. Read the rest of this entry »

Hello

One of the two positions we took last night triggered the target and the other one is still on the way. It went about 65 pips below the entry but I was not at the computer to close it. It still looks like a good position and I will keep it. If you are not happy with it you can just move your target to breakeven and you will be out with zero pips.

My special appreciations to all of you nice people who have supported me so far. I will do my best to serve you better.

Let me think what to say about the tip of the day.

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Hello

Tip of the day:

I always emphasized on this fact that forex trading is a psychological and mental ability that emotions have a big impact on it. Developing mental abilities has its own rules and is really different from the other things. One of its most important rules is that if you put too much pressure on your mind and force it to learn something or gain an ability, you will get a reverse result. Your mind doesn’t follow you and you can not really force it to do anything. Read the rest of this entry »

You are visiting this page probably because you like to become a good forex trader. If you are already a good forex trader then skip this page because you have already known yourself!Did you know that you have to know yourself if you really like to become a good forex trader? Yes; it is true because a forex trader has to be able to control his emotions. Do you know what kind of emotions we have? We have five main emotions that our behaviors, decisions and actions can be influenced by them: Pride, Greed, Fear, Ignorance and Desire. Read the rest of this entry »

Hello

I checked all the currency pairs and didn’t find any signal for tonight. I will check all of them once again at 02:00 GMT which is 21:00 EST (it is 18:31 EST now) and if I find any signal I will post it. We do not have to have trade everyday and we should take a position when we see a signal. Currently all of the currency pairs are in an indecision situation and some important currency pairs are going to make a very tight range which probably will break up nicely but not now. How long does it take? We don’t know. We have to wait and see. Read the rest of this entry »

Bollinger Bands are the second indicators I use after the candlesticks. In fact the combination of candlesticks and Bollinger Bands makes the signals for me. Read the rest of this entry »