The Trader FX: forex

Showing posts with label forex. Show all posts

Wednesday, January 31, 2018

Long EURCHF

We have entered long EURCHF trade at 1.1615 with stop loss at 1.10 and take profit at 1.22. We expect SNB policy to remain its the current policy for an extended period of time, while we expect that CHF will be used as a funding currency.

Thursday, August 31, 2017

Top 10 Forex Forums (2017 Edition)

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 !!!

Thursday, August 17, 2017

Top 50 Forex Twitter Accounts (2017 Edition)

Here is the list of my 50 favorite twitter accounts. This is a new update of my old post.

@eFXnews - provides global FX strategies and analyses from leading investment banks worldwide
@Investingcom - a top financial web portal that offers news, technical analysis, real-time quotes, charts
@Tarantula - forex senior analyst & educator at Admiral Markets
@marketpulsecom - A global team of securities analysts & strategists provide 24/7 coverage of the largest financial markets, with a focus on forex, commodities & global indices.
@DailyFX - providing forex trading news, currency forecasts, analysis, education, and strategy.
@Fxflow - real-time analysis of Forex market, market predictions of BKForex
@FXStreetNews - 24/5 real-time forex news
@TopForexNewsCom - latest forex news
@ForexLive - news, updates, insights from Forex market
@50Pips - independent professional Forex coach and mentor
@FXTraderUpdates - the latest and hottest NEWS and TIPS
@piptrain - forex trading using technical analysis
@ForexTweets - your First Stop for Forex Trading News
@TheTraderFX - independent full-time forex and futures trader
@CVecchioFX - currency analyst at DailyFx
@gregmikeFX - chief currency analyst at FXDD
@newsinvesting - real-time news from currency and stock markets
@PipCzar - independent trader and currency strategist
@IlyaSpivak - global macro strategist at DailyFX
@JStanleyFX - strategist at DailyFX
@Francesc_Forex - president and founder at FXStreet
@JoelKruger - currency strategist and trader
@forexcrunch - Forex news opinions, forecasts
@chrislorifx - foreign exchange fund manager
@craig_forex - a senior market analyst at marketpulse.com and OANDA
@JMahony_IG - market analyst providing fundamental & technical analysis
@FX_Button - currency analyst and editor at ForexLive
@kathylienfx - forex analyst
@FXDIRK - forex trades provider
@EdMatts - senior technical strategist at Capital Management
@caseystubbs - forex trader
@GregaHorvatFX - Forex, Futures and Stock trader
@MWellerFX - a senior technical analyst at Forex.com
@2ndSkiesForex - forex trader
@ValBednarik - forex analyst
@AidanFX - full-time forex trader, technical analyst and signal provider
@PLTfx - Forex trading advisory and fund management
@ElliottForecast - Elliot wave forecasts with swing trading ideas
@PhillipKonchar - forex analyst
@Darlington_Dick - forex news and opinions
@FXstreetReports - 24/5 real-time forex research
@thepoundlive - forex portal
@hantecfx - forex broker
@Forextellcom - delivers trade ideas from pro traders and insights from the institutional side of FX
@aspentrading10 - forex and stock advisory
@MCarrilloFX - forex analyst
@MilanCutkovic - forex trader
@ItsForexTime - official twitter page of FXTMt
@TradersLog - portal for active traders and investors
@saxobank - international investment bank

Happy trading !!!

Thursday, December 15, 2016

Top trades for 2017

Here is our view:

Long USDJPY - Global yields will rise and cause further outflows from Japan, higher inflation expectations and Trump will deliver fiscal stimulus

Short AUDUSD - AUD will be affected will slowdown in Chinese demand while we are bullish on USD

Short EURNOK - NOK will benefit versus Euro due to rising oil prices and local forward interest rate

Short EURGBP - Undervalued GBP will recover because we will not see more negative news from UK

Short EURUSD - The pair is heading to the parity - USD strength combined with European political uncertainty

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

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!

Monday, May 19, 2014

Top 50 Forex Twitter Accounts

Every decent Forex Trader must have a twitter account because it provides immediate news, analysis, charts, and many interesting articles. In order to help you to find the right accounts to follow, here is the list of my 50 favorite twitter accounts.

@eFXnews - provides global FX strategies and analyses from leading investment banks worldwide
@Investingcom - a top financial web portal that offers news, technical analysis, real-time quotes, charts
@FOREXcom - actionable Forex trade ideas, analyses and more
@marketpulsecom - A global team of securities analysts & strategists provide 24/7 coverage of the largest financial markets, with a focus on forex, commodities & global indices.
@DailyFX - providing forex trading news, currency forecasts, analysis, education, and strategy.
@Fxflow - real-time analysis of Forex market, market predictions of BKForex
@FXStreetNews - 24/5 real-time forex news
@marcwalton - Forex mentor and professional Forex trader
@ForexLive - news, updates, insights from Forex market
@50Pips - independent professional Forex coach and mentor
@CharmerCharts - Technical Analysis for the professional futures & Forex trader
@piptrain - Forex trading using technical analysis
@JamieSaettele - technical strategist at DailyFX
@TheTraderFX - independent full-time Forex and Futures trader
@CVecchioFX - currency analyst at DailyFx
@gregmikeFX - chief currency analyst at FXDD
@newsinvesting - real-time news from currency and stock markets
@PipCzar - independent trader and currency strategist
@IlyaSpivak - global macro strategist at DailyFX
@FGoria - financial journalist
@Francesc_Forex - president and founder at FXStreet
@JoelKruger - currency strategist and trader
@forexcrunch - Forex news opinions, forecasts
@chrislorifx - foreign exchange fund manager
@leanco - independent professional Forex trader
@MBForex - trader and currency strategist at DailyFX
@kathylienfx - market predictions and real-time analyses at BKForex
@tradingfloorcom - Forex and Stocks trading community
@currencynews - currency news and Forex fundamental information
@forexmagnates - latest retail and institutional Forex news
@RenaTrader - full-time Forex and Futures trader
@GregaHorvatFX - Forex, Futures and Stock trader
@MWellerFX - a senior technical analyst at Forex.com
@dfxplussignals - trading signals from DailyFX
@WEnglandFX - trading instructor at DailyFX
@AidanFX - full-time Forex trader, technical analyst and signal provider
@PLTfx - Forex trading advisory and fund management
@ElliottForecast - Elliot wave forecasts with swing trading ideas
@EasyForexDR - latest Forex trading news
@Darlington_Dick - Forex news and opinions
@Craig_AlpariUK - a market analyst at Alpari UK
@Joshua_AlpariUK - research Forex analyst at Alpari UK
@fx4you - Forex broker offering charts and analysis
@ForexFreshNews - hot news about Forex market
@aspentrading10 - Forex and stock advisory
@MCarrilloFX - Forex analyst
@edjmoya - a chief technical analyst at World Wide Markets
@EdMatts - senior technical strategist at Capital Management
@FXDIRK - Forex trades provider
@saxobank - international investment bank

Happy trading !!!

Link to Top Twitter accounts - 2017 edition

Friday, May 17, 2013

Profitable trading using Forex Robots (2)

Due to huge interest was shown in the previous post about commercial Forex robots. I have decided to extend the list of recommended ones by two new ones.

WallStreet Forex Robot

Trading pairs: EURUSD, USDJPY, GBPUSD, USDCHF on 1-hour time-frame
Average weekly gain: 2.24%
Min. deposit: $1000
Independent test results #1: Link
Independent test results #2: Link
Order website

Forex MegaDroid

Trading pairs: EURUSD on 1-hour time-frame
Average weekly gain: 0.38%
Min. deposit: $1000
Independent test results #1: Link
Independent test results #2: Link
Order website

Once again, I remind you that before you start trading on a live account follow the procedure explained in the previous posts about the robots and keep in mind the rules about the testing.

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 22, 2013

Manual Trading vs Automated Trading

There is a constant debate on which type of trading is better: manual trading or automated one (using EA robots)? Well, while surfing on the Internet you will find different opinions about this subject. Some would opt for manual, while others will say automated one and both sides will have good arguments to support their stance.

After being an active participant in the Forex market for several years and having tried both techniques I would say that both are good. Actually, the right question should be: Which style suits you better as a trader? The fact is that EA robots cannot replace human thinking, but also robots are not affected by greed and emotions, two big human weaknesses that affect the traders. The robots can work on the market for a longer period of time and they won't miss a trade due to lack of concentration. Also, the truth is that the experienced human trader will earn more than a robot.

So, which style to choose? Well, it depends on you. If you can overcome greed and emotions, if you can trade in full discipline following the rules set previously and if you can fully dedicate yourself to the trading than chose manual one. But if you see trading as a second job, if you are vulnerable to greed and to emotions, automated trading will be the one for you.

For those that chose automated trading, there are two options left: you can create your own EA robot using MQL or any other programming language, or you can buy one. But be careful, if you decide to buy a robot because there are very few commercial ones that can trade profitably. Lots of scams are offered on the Internet. So, I advise you to find an independent review before you decide to buy a robot.

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