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Daniel's FX Trading

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…

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The Difference

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…

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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…

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Technical Analysis Forex Trade EURUSD 1,370 Pip Long

Using Forex Chart Patterns and other Forexmospherian Trading Techniques like JBCB, CBA and FPA

Technical Analysis M5 latest Entry Descending Triangle Breakout Trade below

M15 Entry 11th Jan 2018 Descending Triangle Breakout Trade

Current D1 Breaks Bull Flag with MC and the chance to Long…

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Trading in a place called ForexLand

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 that…

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Image result for BIG BANKS

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".…

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Dead Cat Bounce in Forex Markets (Thats it)

Dead Cat Bounce.

A popular Forex trading term appropriate to many Financial instruments. This well known phrase is said to originate from Wall Street within the financial markets. The "dead cat bounce" means a brief and small recovery in the price action of a declining FX market. The basic idea is that even a dead cat will bounce if it falls from a great height. Also applied to Foreign Exchange  Markets where the currency pair encounters a brief resurgence during or following a severe decline. 
A good Forex strategy to counter the Dead Cat Bounce is MTFA.…
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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…

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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…

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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…

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Choosing the right Forex Broker amongst the Good, the Bad and the plain old fashion Ugly.

Fortunately a trader has more than just a few short moments to make up their minds here. Eliminating the Bad straight off the bat and finding those which promise much but do not seem to deliver when actually needed. Therefore and at the very least, research and due diligence should deliver us from evil and instead, into the hands of a professional high quality efficient and effective service when it counts. The list of brokers is a non-exhaustive one because there are just so many to choose from. So, to begin with, thoughts turn to, which one is right for…

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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+ countries…

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Forex Artificial Market

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.…

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There could be valid grounds to suggested that all Trading or investing is based upon The Greater Fool Theory (T.G.F.T.) which could perhaps, have been scribed on a Stone or Clay Tablet in a far off distant Galaxy or here in the past and just maybe found, hidden but written in the Forexmos S.T.A.R.'s or even written inside an Ancient Scroll somewhere. Things in life, do have the habit of re-orbiting, in Time, so with this in mind I would also suggest this post, maybe for some, is once again being read from a Tablet but not the so ancient ones, no, more over, the branded and…

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ForeXmospherian EUR/GBP Nessun Dorma Power of 3

Just to reiterate Prediction and the relativity of time frames traded, often discussed but am quite sure not yet discovered for some.

Prediction, so the Question could be; "How can anyone predict the future before it happens with any degree of accuracy". In the case of most things, based upon…

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Uses IVks | Forex Food for Thought

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 everyone who has posted so far, you are my friends from around the world going back more than 10 years and so I do hope you will understand my feelings towards you. I send a sincere and a big thank you for your continued support and insights into the forex markets forexmospherians. To explain some more, I've been at this market for a few years now and to tell you the truth, its been a hard road to tow.…

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WRATH OF THE BRITISH KAMIKAZE

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 this…

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Helpful Hints

Share a Trading Tip, Trick, Knowledge or Technique with the Community. Try to avoid just simply posting a link or video and saying this is great. Explain what makes it great or how this was useful. Sometimes things are simply entertaining but still useful and so explain in detail with diagrams, photos or charts. Descriptions with as many details are always interesting to read and so say what could be useful to know here. Community members are welcome to comment, ask questions or add to a post.

"Keep a Record of the Business or Currency Pair Traded. Reasons why the Trade was taken. When was the Exit. How and why the Trade turned out the way it did"

"It's my pleasure to be part of this forum, which is always different than other places & with a friendly environment. Glad to be in this team"

"Yes, the truth requires neither our belief nor understanding. However to harness truth and apply it for our benefit we must at a minimum allow that it is possible".

"We all know we will never be 100% Accurate with 100% win rate over 100's or 1000's of trades - but as long as your winning pips and money - add up to a lot more than your losing pips and money - then "Bingo" you are successful winning FX trader"

"I figured this was a legitimate break, so I went on the hunt for evidence, so here in succession is the list of clues I used to make my decision:

Rejection of market and weekly pivot at ema confluence.

Complete and broken head and shoulders on 1hr time frame.

Broadening formation on daily with test and rejection of 200 day ma

Bull hinge on daily and Renko stochastic.

Positive momentum on 5min, 1hr, 4hr and daily chart"

"Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful" - George E. P. Box

"Sometimes You Win,

Sometimes you Learn".

"Forex Market analysis relies on two types of analysis much like Stock Markets:

Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.

Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more."

"Short rapid bursts and quick glimpses of an entry, trigger activated, trail in place and exit strategy and plan already set. Within a blink of an eye, instinctively the buy/sell button is pushed. The hammer falls and clanks decisively, echoing, sparking, like steel upon steel and the trade is executed. A Traders heart beats on with perfect set up, closely aligned with strict parameters, ready to continue the attack or recoil on a wire. Wrap the profit and then stand down, ready for the next hunt"

"When we are talking about sentiment it is very hard to say that this sentiment will prevail another 6, 9, 13 hours. Sentiment is not a constant line. Main trend is bearish, tech picture on daily is bearish, even intraday neutral. Nobody restrict to play long eur short usd position with the target at 1.12 or even 1.1361, this is every traders individual choice as always"

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This is great Daniel. Happy that it helps you a little. Thank you vm.
pixta commented on pixta's blog post Simple Forex
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Paul McDermott is now a member of Forexmospherians - Forex Traders Social Network
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