This is a new update of my old post. As I said, a forex forum is an online discussion site where other people hold conversations about the Forex market and trading in general in a form of posted messages. The most popular Forex forums are:
1. Forex Factory - (Alexa rank: 3362) - a leading online Forum with a huge trader base and established reputation
2. MQL5 Forum - (Alexa rank: 5519) - official forum of Metatrader users
3. My FX Book Forum - (Alexa rank: 9274) - well-known Forex site with a forum
4. Babypips Forum - (Alexa rank: 16476) - one of the best Forex educational sites with forum
5. Forex Peace Army Forum - (Alexa rank: 41254) - another well-known Forex site with a forum
6. Arabic Trader - (Alexa rank: 48746) - forex forum in Arabic
7. EliteTrader - (Alexa rank: 56382) - forum without subsections
8. MT5 Forum - (Alexa rank: 61207) - a forum of Metatrader users
9. EarnForex - (Alexa rank: 77081) - another well-populated Forex forum
10. Trade2Win Forums - (Alexa rank: 100553) - a forum dedicated to Forex traders
Happy trading !!!
Showing posts with label currency trading. Show all posts
Showing posts with label currency trading. Show all posts
Thursday, August 31, 2017
Wednesday, January 28, 2015
Top 10 Forex Forums
A Forex forum is an online discussion site where other people hold conversations about the Forex market and trading in general in a form of posted messages. the most popular Forex forums are
1. Forex Factory - a leading online Forum with a huge trader base and established reputation
2. DailyFX Forum - a forum owned by one of the leading brokers - FXCM
3. MT5 Forum - official forum of Metatrader users
4. Babypips Forum - one of the best Forex educational sites with forum
5. MQL4 Forum - official forum of Metatrader users
6. EarnForex - another well-populated Forex forum
7. EliteTrader - forum without subsections
8. Trade2Win Forums - a forum dedicated to Forex traders
9. Forex TSD - very popular Forex forum
10. Forex Abode Forums - another well populated Forex forum
Link to Top 10 Forex Forums - 2017 edition
1. Forex Factory - a leading online Forum with a huge trader base and established reputation
2. DailyFX Forum - a forum owned by one of the leading brokers - FXCM
3. MT5 Forum - official forum of Metatrader users
4. Babypips Forum - one of the best Forex educational sites with forum
5. MQL4 Forum - official forum of Metatrader users
6. EarnForex - another well-populated Forex forum
7. EliteTrader - forum without subsections
8. Trade2Win Forums - a forum dedicated to Forex traders
9. Forex TSD - very popular Forex forum
10. Forex Abode Forums - another well populated Forex forum
Link to Top 10 Forex Forums - 2017 edition
Monday, December 15, 2014
Start your own Forex signal service
A great book written by Rimantas
Petrauskas who is a very experienced Forex trader and skilfull Forex programmer.
He has successfully thaought many clients how to succeed in Forex trading. The
book, “How to Start Your Own Forex Signal Service: The Next Step Every Forex Trader Should Take to Build an Automated Passive Income Stream
” has been created to help those
interested in making an income through developing a Forex trading signals
service.
It explains the steps that the author
has used to create his own successful Forex signal service business. There are many
details about the ways and approaches to find great sources for trading signals
that can be sold to customers.The book is easy to follow and it will teach those
who have no experience in starting their own website. It explains what software
can be used to deliver trading signals, and also the methods that can be used
to run a business.
Happy trading!
Wednesday, May 15, 2013
Profitable trading using THV strategy
THV is a legendary free
manual trading strategy that was developed by Cobraforex. The
strategy is originally designed for scalping (trading on smaller
time-frames), although some traders successfully use it on larger
time-frames. It can be applied to any trading instrument, but since
it is a scalping strategy the better results are carried out on
currency pairs with smaller spreads.
THV manual and indicators
can be downloaded from here. Well, my intention is not to explain to you
the strategy, but to point out on few additional things that can
improve your trading results. Since it is a scalping strategy, I
have applied it to a 5-minute time-frame.
First, I advise you to
take only those trades that are in accordance with bigger
time-frames. If on 5-minute time-frame buy signal is met then check
out if according to THV strategy the pair is in buy zone on 15 minute
and 1 on hour time-frame. If it is not, do not enter the trade. Also, if a sell signal is met, check if the pair is in sell zone on 15 minute
and 1-hour time-frame.
Second, take a look at
Economic calendar. Do not enter the trades half an hour before highly
and moderately volatile news release for one of the currencies in
the pair.
Finally, check the volume.
Do not enter the trade if the volume is low. It should not be the problem if you are trading on a business day during London or New York
session.
Hopefully, these remarks
will help you to improve your trading results. Good luck!
Tuesday, May 7, 2013
Simple news trading strategy
News trading is a style of
trading where a trader makes his trading decisions based on economic
news releases. The great advantage of trading the news is that you
can be very successful in a relatively short period of time. This style
is perfect for those who can't dedicate themselves to trading on a full-time basis.
An economic news calendar can
be found at investing.com and fxstreet.com. The impact column in the calendar
shows how big volatility is expected upon the release of the news.
Three other important columns are Actual, Forecast and Previous.
Previous shows the indicator data for the previous period. Forecast
shows the expected indicator value; Actual is the news release.
So, what is causing big
price movements? Well, it is a surprise. In this context, the surprise
is the difference between forecasted and actual value. We can see
that actual value is sometimes shown in red, sometimes in green and
sometimes in black. What does it mean? Green means that actual value
is better than expected and it will cause bullish movement for the
currency, on the contrary, red means that actual value is worse than
expected and bearish movement is expected. Finally, black means that
value is within expectation and currency should not move.
So, how to trade the news?
Choose the pair that is consisted of currency for which the news will
be released. Then, 30 to 45 seconds before the news release put one
buy stop order 8 to 12 pips higher than the actual price and one sell
stop order 8 to 12 pips lower than the actual price. When the news is
released one-stop order should become active (if the actual value is
not in expectations). Then cancel the other stop order and close (or
leave for a few minutes or more) the active order. When you are
satisfied with the gain to close the order. If the news release did not
cause the price movement to cancel both stop order and wait for another news release.
I advise you to try this
strategy on a demo account first, and then you can move to a live
account. If you sign-up to this blog by email, I will send you a
script that is automatically placing stop orders.
Happy trading!
Wednesday, May 1, 2013
When is your Expert advisor ready for live account trading?
Whether you have developed or purchased an Expert advisor there is a certain procedure that has to be followed before the Expert advisor is ready to trade on a live account.
The first step is called Back-testing. Back-testing can be performed with the Metatrader platform using a Strategy Tester tool. Back-testing is not reliable, however, it is the first step, it is fast and it can give you some picture of your robot. Back-testing results should not be considered at all if your modeling quality is under 90%. Modeling quality can be improved if you import the history data. That data can be found at forextester.com.
Strategy tester has two very useful back-testing features: optimization and visual mode back-testing. Optimization compares the trading efficiency with different values of robot entry parameters. It can help you to choose the most profitable combination. Back-testing in visual mode is very interesting when you are developing your own Expert advisor, so you can check does the robot follows your strategy completely.
When your Expert advisor accomplishes satisfactory results on back-testing, it is ready for the testing on a demo account. So, put the EA using the best performing back-testing entry parameters on a demo account and leave it for 3 weeks to three months. The duration depends on the time-frame EA has been using. For EAs trading on 1-minute charts, 3-week testing is fine; those trading on 4-hour charts should be left for 3 months on the test. If your EA has achieved satisfactory results on a demo account, it is ready for live trading.
Optionally, to be more certain you can start live account trading on a smaller account or using a smaller amount of lots (if is it available) as an entry parameter. Then after one month, you can switch to live to trade on the normal account.
Well, if you have followed the testing process completely and if your EA has successfully passed all steps. You will certainly enjoy live account trading.
Monday, April 15, 2013
Safe Scalping with EURCHF – A trading strategy
In September 2011 when SNB
introduced 1.2 floor, the pair EURCHF has been trading in
relatively tight range reaching the highest value at 1.264. Since
September 2012, I have been using a simple scalping strategy for that
pair and it helped me to earn 20% per month on average.
The strategy is based on the assumption that 1.2 floor will remain. Well, in the past year and a half
SNB has been very successful in defending that floor and it states
that will continue to defend it with utmost determination. It is
realistic to believe that in the long term the pair will not only remain above the floor, but also will return to
the values that are much higher than the current one, as Europe and USA are slowly coming out of the recession.
The prerequisite for the scalping strategy is that your broker has a small spread on EURCHF pair (not
higher than 2.5 pips) and a positive swap on long entry. If your broker
does not meet these demands, try the strategy with a different one.
If you have a problem with finding such broker I warmly recommend
Exness, I have been trading with them for the past six months and I am
very satisfied. Another prerequisite is that the price of the pair
is lower than 1.24.
The strategy itself is
very simple, enter the long trade following the rules for any other
scalping strategy. I was very successful using a 5min blue trend rider and THV3. Just
in case, when I enter the trade, I always put stop loss at 1.1980
level. Next, wait till exit rule for your scalping strategy is met
(by scalping strategy I meant here 5min blue trend rider or THV3), and if your
trade is in gain exit the trade. If your trade is not in gain leave
it and wait till it will become profitable. Swap is working in your
way now! In the meantime, you can enter another trade on a new long entry
signal. In a period while I was using the strategy I never had more
than four trades opened.
Money management I was
using is 0.1 lots for every $400 on my account balance and I am
careful that I have enough money for 4 trades. So, if I have $1600 on
my account, it will be enough for four 0.1 long trades.
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