There are two basic styles of Forex Trading. Short term and long term. Essentially, short term trading is done on an intraday basis, where positions are opened and closed within the same day. Long term trading is done on a multiple day basis, where one position can last weeks or months, maybe longer. Within each [...]
The Spread in Forex Trading is how a Forex broker makes money. When you trade Foreign Currencies, you buy a pair at the Ask price, and sell at the Bid price.
Elliot Wave - What is it?
Many people don’t have a clear understanding of what Elliot Wave Theory is, or how to use it properly. Elliott Wave Theory is somewhat of a misnomer, as Elliott himself labeled it Elliot Wave Principle. But investors as a whole generally refer to it as Elliott Wave Theory. The basic [...]
One of the hardest things for traders to do is to be successful. It is a fact that 95% of retail Forex traders, in other words, those of us that are not huge banks or extremely wealthy, lose money in the market.
I found an article written by Bill Poulos, a 30+ year trading veteran and mentor. I found myself entranced, realizing I had done many of the same or similar things. The following is what Bill wrote:
If you take a close look at most of the so‐called Forex trading methods and systems on the market, you’ll find they’re littered with problems.
Following are examples of typical order placements using VT Trader charting software and order platform.
Each Forex broker usually has either a proprietary software package or a version of a standard package such as Metatrader 4.
Swing trading in trending markets has the potential to capture significant market moves in a matter of 5 to 20 price bars whether one is trading intraday bars or daily bars. This is a very powerful way to trade as major profit opportunities present themselves in these trending markets that a swing trader can take [...]
It is quite common for a Forex pair to begin a new trend that lasts for several weeks or sometimes even months. I call these the Forex mega‐trends.
What account size do I need to trade the Forex markets?
There is no one right answer to that question. First, you should only trade with funds that you can afford to lose.
However, Forex brokers allow you to trade standard lots and mini lots. The margin (depending on the pair you are trading) for a standard [...]
How can I minimize downside risk while still capturing quality gains in the Forex markets?
First, you must have a good trading method. But even more importantly, you must have strict money management rules; without them, even a good trading method will eventually fail. I have found that in order to be effective with risk management, [...]
Forex Holy Grail
How can I find a Forex method that works almost all of the time with minimal or no losses?
This is known as the “Holy Grail Syndrome” and, of course, the Holy Grail of trading simply does not exist. I’ve talked about this concept many times, but it bears repeating here.
For years, I refused [...]
The following is the very best exit strategy that I believe possible when trading the Forex markets on an end‐of‐day basis.
How can I determine the initial stop loss, trailing stops, and exit points?
Besides money/risk management, I believe this is one of the most important questions regarding a good trading method. It should go without saying that as soon as you enter the market with a new position, an initial stop order should be entered to [...]
What simple strategy can I use to find good entry points in Forex Trading?
The general approach that I use is to develop specific setup conditions that, when present in the market, indicate that I should consider entering into a new position. So the first thing is to identify the conditions that occur relatively infrequently in [...]
What are the best technical indicators to use?
At last count there are over 100 technical indicators available in most charting software packages. There is no magic in the indicators themselves as they all strive to tell you something about how the market is behaving at a point in time.
And it is not that some are [...]
Brief overview of the basics of Forex
Are you new to Forex and would like to learn the basics? The basics of Forex is pretty easy to understand.
Stocks and futures trade through exchanges, or the NASDAQ, which means every retail trader like you and I have to trade through those exchanges. Forex trading is done [...]
How do the Forex markets operate on a 24 hour basis?
Active trading sessions in each country’s’ financial centers around the world take place from Sunday 5:00PM EST to Friday 5:00PM EST. For the major financial centers, trading starts in Sydney, then moves to each financial center in this order: Tokyo, London (and Europe), New York. [...]
The Current State of the Forex Market
Forex is more popular than ever. While we want to know what the current state of the Forex Market is, we first need to take a look at the average daily turnover in the Forex markets over the past 20 years:
$3.2 TRILLION a day in 2007, with no [...]
Are You a Dependent or an Independent Trader?
When it comes to trading Forex (or any market for that matter), I find there are two types of traders. And the type of trader you are could drastically impact the amount of money you make in the markets… it could even forever determine, in part, what the [...]
Forex Types Of Orders
What types of orders can I use to trade Forex?
There are several different order types you should understand in order to trade Forex.
Market Order: This order type is used to enter or exit the market immediately at the current quoted price. If you want to buy you will be filled at the [...]
Day Trade Forex?
Forex Profit Accelerator. Do you have to day trade Forex?
“Do I have to day trade Forex?” is one of the most common questions asked about trading the Forex markets. Day trading Forex, otherwise known as very short term trading or scalping, is very widespread but most people cannot commit the time to day [...]
Forex trading: Why most amateur traders fail
One phenomenon that derails amateur Forex traders time and time again is method complexity syndrome. They research a trading method, buy it and the minute they receive it, they jump ahead to what they consider to be “the guts” of the method. In doing so, they completely ignore all [...]
Forex Trading - The Trader’s Mindset
If you want to become a Forex Trader, choose one of these mindsets.
The Independent trader or the Dependent trader
Which type of trader you are will dramatically affect the potential money you can make in the markets. In fact, it could well determine what the rest of your life will [...]
Evaluating a Forex Method
One of the questions I’m often asked is what constitutes a good trading method (or how do I know if a trading method is really worth buying). In this article, I’ll show you what most methods look like (and why they are bad) and show you a simple way to evaluate a [...]
Using Technical Indicators to trade Forex
Did you know there are currently more than 100 technical indicators that you can use when trading Forex? Most charting software programs and packages available will provide all of these indicators to you — but the most confusing question is always: which ones should I use?
There is no magic in [...]
How To Tell a Good Forecast from a Bad One
Here’s a forecast for you. Clear and direct. As quoted by a Reuters reporter in his [...]
Trading Forex: The best pairs to trade
When first learning to trade Forex, you should focus on the best Forex pairs for trading. By best, we mean those pairs that are widely traded, have the most liquid markets and have sufficient price movements (or, volatility) to be worth trading. Remember, without volatility, it is very difficult [...]
This bonus module covers the basics of forex trading and technical trading that will be used throughout Bill Poulos’ Forex Profit Accelerator courses
This 160-page reference manual contains full color charts and slides from every CD-ROM video tutorial in Bill Poulos’ Forex Profit Accelerator course.
The 4 Trading Blueprints:
In my opinion, these 4 trading blueprints are as close to the “Holy Grail” of trading the Forex markets as you can get.
Why do I say that? Because they contain all of Bill Poulos’ step-by-step trading rules for all 4 of the Forex Profit [...]
12-page Quick Start Guide to show you how to go about studying and learning the Forex Profit Accelerator experience in the most efficient manner possible.
The 4 “Golden Rules” That Most Forex Traders Will NEVER Learn
I am going to be very candid with you right now, and I risk alienating myself from most of the other Forex educators out there. However, I had to make a decision: tell you the truth, or keep my mouth shut [...]
Forex Profit Accelerator is a complete step-by-step trading course designed specifically for the Forex market.
Forex Income Engine Live Trading Videos
Watch all of the Forex Income Engine Live Day Trading videos by Bill Poulos for free: ‘Flexible Forex’ training videos show live trades being made using this amazing forex trading course.
Today could be the turning point in your life you’ve been waiting for… that is, if you’re prepared [...]
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