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So when looking through my pages at all of this forex trading jibber jabber, to me it's a works in progress for preparing and writing a useful traders blog which could be used as a trading tip. I'll try to get my thoughts down here and explain my trading journey with some forex pathway tips and a story of how I got here with the Forexmospherians. I know…
I have recently been helping a friend with his market outlook and approach, i have only helped a small few as we all know there are many factors in this game, and when one learns that simplicity is the route to succes it becomes much easier.
When giving guidance in the form of answering good questions with really good answers i have come to realise, it still is difficult in the beginning stages for new people in the markets to grasp the difference between a security and the market, reading up on a company, currency pair, bond etc, etc, is what some people in the new stages think is imperative to succesful trading but they couldn't be more wrong in my opinion. I'm certanly not implying to ignore a securities fundies, however i can tell a lot more about what a security is doing by reading the chart as opposed to reading what the talking heads are saying.
It is very important to know whats coming around the bend for sure, you can get blind sided from a critical…
THE WRATH OF THE BRITISH KAMIKAZE
In posting this Forex blog I must say that I am practicing what I preach so to speak and letting go of a trade on this currency pair that I missed. Also reiterating the reason we are here at Forexmospherians is to help eachother and improve ourselves by sharing ideas and trades, the good ones or bad ones. So here is a recent trade showing my approach and outcome of how I eventually left it. I feel certain its a regular set of circumstances which can be shared as a trading tip and will explain the conditions and the lessons to be learned.
Firstly, I consider…
Is there such a thing as insider trading and insider information?
Perhaps to begin with, we should examine what this means and then decide whether or not it is possible.
An insider is a person who can access an organisations non-public information.
This could be employees handling or accessing valuable data, ranging from the accountants, solicitors, directors, CEO’s and anyone else connected in some way.
This includes friends, acquaintances and even Government officials. Furthermore, if the…
A New Forex Trader - "I'm Like a Dog Chasing Cars"
What would a dog do if it actually caught a car? Lets paws for thought for a few moments and then look into this a little deeper and gain some understanding of how this can perhaps be cured in a Forex Trader or avoided altogether. Forex Traders are naturally wired to chase moving objects like price action and attempt virtually every pip throughout the trading session. Mainly due to lack off knowledge, training, experience and patience which as we know, are absolutely necessary to trade the markets successfully. When a trader repeatedly…
EURUSD Rise and Fall
I have added the video above to this post since writting it to provide completeness of information for the reader.
Needless to say, the video was inspired by these trades, I hope this post helps folk how to trade.
Best Regards,
Sir Gissa
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Trading in a place called ForexLand
The Rabbit hole of thinking and raising Trading awareness with Market savvy can be explained away in a wide range of intricate FX scenarios. Luckily though and just a short hop away are some interesting Forex facts along with a short punchy story to share. Which should not go beyond the scope of reasonable thinking for some FX folk. After all, other folk can and will make life and Foreign Exchange trading as technical and or as complicated as they like.
If you consider…
EURUSD Overview and Observation of Forex Price Action in the current Market.
How to identify Live Forex Chart Patterns and Market Direction - Tip: Patterns Tend to be true.
Price Action Data Translation of the Line. The life cycle of this Currency Pair set out in stages as above so below:
M15 The following information is highlighted in the Chart above and in sequence:…
The 6 Most Traded Forex Currencies in the World
Trillions of dollars can be traded on any given day between millions of investors and interested parties which makes the forex market the most liquid market by far and thus securing it to be the largest market place in the World. So, for the beginner and those researching the forex markets for the first time, then it is imperative to gain a firm grasp and familiarize themselves with the more commonly traded currencies and Forex pairs, along with their nicknames as well as the more popular known uses, not just within Forex but also their wider use on the worldwide financial stage. Every currency can be affected by its own specific characteristics and these features will affect its underlying…
The idea of Trading a single Forex Time Frame can be effective while analysing one chart but there are some alternatives which may reveal a more in-depth and thorough understanding of Forex market analysis for all currency pairs. A wider perspective can be gained from taking advantage of the different and wider angles involved. In essence, entering a Forex trade could be comparable to crossing a street.…
Day One: The Smart Forex Trader Takes the Trade.
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Day Two: The Semi-smart Forex Trader Takes the Trade.…
Day Trading Forex and the Top 10 Forex Beginners Trading Tips.
The standard use of the term "Day Trading" refers to short term market positions where the trader opens and closes a position within the same day. Rather unfortunately, this term along with the original concept received bad press in the 1990's when it earned the reputation of liquidating many beginners Trading accounts. However, the fact remains that no one whether beginner or seasoned trader, should simply jump into the markets without thoroughly testing their…
Following the Lines of Nature and reflecting upon there can be only O.N.E. with some great audio shared featuring the brilliant Alan Watts:
So just as there are no point instance, in the curve, so there are no events in nature. Nature is a constantly fluctuating pattern, you can only designate particular wiggles in a pattern arbitrarily. You can count a convex formation as one wiggle or a concave formation as one wiggle, then you decide if you call it, if you give the convex properties, the title of the…
Dear all,
I've once written a blog on this pair, about the peg Everything You Need to Know About Peg on EUR/CZK and How to Trade it Afterwards.
We are back above 27 czech crowns per euro and so I think this pair deserves an attention of forexmospherians again.
Few words about current development. The reason why Czech National Bank (CNB) set a peg on 27.00 like 5 years ago were the deflationary tendencies which are thought to be harmful for the economy. The level of a "healthy" inflation was reached through this monetary channel and the peg was left. Why it is on my spotlight - here are several scenarios which can influence the exhcange rate of this currency pair in the near future:
There is probably an issue with photo posts as they do not display in activity feed, so I will use this blog for that purpose ;)
I entered two trades today on GBPCAD and AUDCAD. The plan was to cover some previous days loosing trades and so I cashed in too early.
GBPCAD - long
AUDCAD - long
If you want to know more about the strategy used, you have to sign in and talk to any forexmospherian =)
Regards,…
First of all I would like to recommend a great document out there - "DB Guide to Exchange-Rate Determination" which was written by Deutsche Bank in 2002 and is overfilled with FX rate determination, forecasting methods which can be used for all short term, mid-term and long term trading. If you haven't read it, look for it, download to your Kindle and take the time. It is worth reviewing. :)
In the documents several FX trading strategies are described with reference to many academical papers and literature. One of them - the Forward-Rate Bias strategy. Its results are stunning for longer term FX trading and its sharp ratio has beaten the S&P500 twice. As the DB says: "This is the bedrock of Deustche Banks's Forward-Rate Bias trading system".…
Hello guys,
It is a great feeling to be back here with the best traders. It was a busy semester for me, no time for trading, so glad I can spend more time around this great place with all of you now.
I would like to show you some (for me interesting) findings, I have made with an artificial market which I have worked on as a semestral project. The main goal was to find out under what circumstances can a market crash appear, but this is not what I will talk about in this blog post.
I think it is not…
Forex speculators all around the world are participating in the movements of Trillions of Dollars within the Foreign Exchange Markets. Forex Traders monitor the news, inflation reports, central bank talks, NFP, FOMC, Trade Balance, CPI, Retail Sales and political events.
The news is therefore constantly measured to gauge the market sensitivity. A nations Government actions for inflation along with other news can impact upon an economy and other nations economies. Geo-Political news such as war, natural disasters, internal or external political unrest, stock market reports as well as major referendums or elections.
Some of these events and their affects upon the Markets can be seen in the BREXIT referendum in Europe along with the fallout from the High Courts as well as the…
Dead Cat Bounce.
If you send out one sonar ping or drop a rock in a pond the first ripples are fast precise , edges clearly defined sharp in and out. As the ripples or waves expand they become wider slower less precise and mere reflections of the original price action. To explain how those edges that you so casually define, use, move on to the next , like chaff from your harvest are so helpful to me I must share something that may or may not be helpful to you.
As I realize waiting hours for 100 Forex pips is not really that appealing to Traders who glean that from the market in minutes working from the center of the ripples. In the asia seesion there are many markets the market sequence starting with the…
A guy I knew a few years ago could ride a unicycle whilst juggling 6 oranges . He said it was easy - although he admitted he had been riding unicyles for many years from when he was a teenager.
I tried it in 2 stages - first of all trying to ride a unicycle - that was very difficult and although I did manage to stay on a few times - I could not even juggle 2 oranges at the same time - even though I could juggle 4 or more when I was just focusing and concentrating on just that part and not trying to unicycle.
I tried to do it many times over several weeks - but felt not confident after a few falls - so it beat me
It reminds me of FX trading - yes so many say its just so simple - you buy when…
At the Start of this Millennium, Currency Trading / FX / Forex was been sold to potential newbie traders as one of the best ways to make your millions from just a small capital base and a few hours of work a week. We had all heard about all the money Hedge Fund and Bank Traders had been making during the 80's and 90's and now with the availability of the world wide web and access to the markets - it was time to get involved.
All you had to do was spend a few weeks or months learning how to trade - and of course it looks easy - just follow the news and work out whats happening on the charts and then buy and sell different currency pairs and then bank your profits - etc etc
If you were all ready employed and so only had a few hours a week to trade that would not matter as you could become…
I am sure many of you have heard the phrase or saying - there is no need to take any courses - everything you need to learn to become a successful FX Trader you can learn for FREE off the Internet.
In a "nutshell" - it could be looked upon as being true - the trouble is though - you are going to end up kissing a lot of frogs before you end up meeting your prince or princess ;-)
Nobody really wants to waste money on their learning journey - but unfortunately it happens to so many newbie traders. They either go to a free seminar and then end up spending $2k or $5K plus on a 2 to 5 day "intense special" seminar that will have them profitable ( not). Or - they spend $300 on buying DVD's and loads of books that they then think will have them at an intermediate…
FX Retail Traders - 2016
% Breakdown of those who make it and those who don’t
Estimated % of Winners –
Minimum consistent winners who manage to make profits both monthly and yearly -
3 -5% - (Independent estimates)
Maximum number of consistent retail winners who make profits monthly ongoing -
22 – 28% - (Broker / trade estimates )
My own personal view based on other independent statistics and spreadbetting stats –
11 – 15% of all retail FX Traders may be profitable on a consistent basis
Why do so many traders – ie estimates from 72 to 97% of retail traders never make trading profits on a consistent basis ongoing over months – quarters and yearly ?
Out of…
I was going to be writing on another subject for Part three - but I decided to change it after reading some comments on different forums over the weekend and thinking - Why are some traders missing the obvious ?
Here's a few questions to ask yourself -
1. Can you drive a car and do you hold a full driving licence ? If so - was you a good driver after your first week or first 50 miles ? Was you more experienced after say 5 years and 50k+ miles under your belt? Was you a better driver after drivings say 5 different cars in different parts of the country or even abroad ??
2. Have you ever decided to accomplish a new skill - ie skiing or snowboarding - go karting - sailing - ten pin bowling etc ? Have you noticed you started to improve after time ? It might be after a few…
We mentioned in part one about the Forex Market really being a "zero - sum" game - that's after the "trade" - ie Brokers / commercial agents etc have had their "spreads and commissions" off traders participating in the market place.
We also mention the "them and us" - IE commercial institutions / Banks / Governments / Hedge Funds etc - being them and us - being the "poor little relative" - ie the Retail Trader - working for ourselves and trying to make a profitable return from our Capital and our commitment from the amount of effort and time and study we do to try and be consistently profitable.
Now immediately can you all see the "conflict" here - Banks and Hedge Funds need to make large amounts of money simple down to the amount of capital and resources they invest in the currency…
Currency Trading is just really the largest "money game" on the Planet - played by loads of all different people and organisations around the World.
We have really 2 main sections - you could say "them and us" - with us being part of the retail section or community - ie individuals - not working for Banks or Hedge Funds, commercial organisations etc - but instead just for ourselves. "We" only account for approximately 5 to 8% of the total FX market - whereas just 5 very large banks account for anything between 55 and 70%.
That leaves something like 22 to 30+% of the market being made up of loads of commercial businesses and even governments etc - not just Hedge Funds or small Banks - but even car manufacturers and massive international global businesses who are trading in anything up to 200+…
