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Forex Training of candlesticks patterns pdf
This Forex Training guide is best for understanding Candlesticks Patterns. This Pdf of Candlestick Patterns is a complete guide. The Japanese started utilizing specialized dissection to exchange rice in the seventeenth century. While this unanticipated form of specialized dissection was unique in relation to the US form started by Charles Dow around 1900, a large number of the directing standards were fundamentally the same.
The "what" (value activity) is more significant than the "why" (news, profit, et cetera).
All known data is reflected in the cost.
Purchasers and dealers move markets dependent upon desires and feelings (fear and eagerness).
Markets change.
The real cost may not reflect the underlying worth.
Download This Book Here
This Forex Training guide is best for understanding Candlesticks Patterns. This Pdf of Candlestick Patterns is a complete guide. The Japanese started utilizing specialized dissection to exchange rice in the seventeenth century. While this unanticipated form of specialized dissection was unique in relation to the US form started by Charles Dow around 1900, a large number of the directing standards were fundamentally the same.
All known data is reflected in the cost.
Purchasers and dealers move markets dependent upon desires and feelings (fear and eagerness).
Markets change.
The real cost may not reflect the underlying worth.
Download This Book Here
Forex In Urdu : Trading Gold In Forex
Forex Trading Urdu training is getting appreciation from our readers.This post contains some tips for Gold Trading in Urdu. The U.s. dollar swapping scale moves against the euro produces a very quick change in the dollar gold price.the same will apply to the gold cost in nearby coinage against the dollar and thus the euro.this is since the business sector records true updates in gold costs in the euro not in the U.s. dollar.
eToro, your social investment network.
Connect with other traders & investors and copy their trades.
The ones that have a better behavior will hesitate and slow down before a significant resistance or support line and back off. If there is enough momentum and conviction, they will make the break and will never look back. These are the more predictable currency pairs. Unfortunately, not all currency pairs enjoy this behavior, and they tend to be choppy and tricky.
Together with the
moves of currencies, also their behavior changes: some improve and
others lose their shine. Here is a ranked and updated list of the most
predictable currency pairs for Q3 2013, each with its own style:
EUR/USD:
There is a lot going on in both sides of the Atlantic and this has
often triggered choppy and frustrating trading. Euro/dollar was out of
the list in Q2, and rightfully so. So why does it rise to the top spot?
With stronger volatility and mixed signs on both sides of the pair, we
can expect more predictable movement now. First signs are already seen:
the pair’s ranges are now better defined. In addition, it is easier to
draw uptrend support lines and downtrend resistance lines on the daily
charts. After the improvement in range trading, the pair needs more
directional trade to lead in predictability. This might happen this
summer, with rising expectations of tapering and potentially more action
from the ECB.
AUD/USD:
This currency pair topped the list more than once. In Q2, the breakdown
below the long term triangle certainly triggered a huge move lower. In
addition, the pair makes shooting star and hammer patterns. However,
when moving a bit closer, the falls and subsequent corrections were more
choppy than usual. So while the bigger picture is clearer, the details
are a bit more cloudy. Perhaps the pair suffered too much volatility,
but that is probably not going to change soon.
EUR/GBP:
This cross topped the list last time and remains high. Recently it has
shown nice range trading and in Q3 we could see some breakouts. When the
pair breaks out, it tends to mark the top/bottom of the range and then
remain in the range for some time. This might not be the preferred pair
for those that need movements of many pips, but for those looking for
more stable, predictable moves, it might be the pair of choice.
GBP/JPY:
The “dragon” or “geppy” has traditionally not been a very predictable
pair, or at least it has been a pair that required wide stops. Well, the
moves here remain wild, as the yen moves wildly across the board since
Abe took office. But contrary to USD/JPY, the moves in GBP/JPY make more
sense: the pound makes the moves of the yen smoother and this will
likely continue. The cross traded in well defined ranges and breaks to
the upside have seen a follow through. Breaks to the downside have been
more problematic. Fresh volatility is expected with a new governor at
the BOE and after the Japanese elections.
NZD/USD:
The kiwi is still a relatively good pair to trade, but it has lost some
of its shine and predictability. One of the reasons is the
interventions by the central bank. Nevertheless, NZD/USD is still worth
mentioning. It respects breakouts quite well, even though stops need to
be wider than beforehand.
Two
major pairs were left out of the list: GBP/USD which makes interesting
yet very wide moves, and USD/JPY, which makes even bigger whipsaws. The
combination of the yen and the pound seems to work better.
Best Currency Pair for Hedging
For
Currency Pairs that are trading sideways, HEDGING is the best strategy
to implement. This involves putting a buy and sell order in the same
currency pair at the same time – in one account. Every day, we rank the
major currency pairs by suitability for hedging.
Rules for Following the Hedging Radar
Rules for Following the Hedging Radar
Your Forex Trading working Report?
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Your Forex Account Drawdown: 16%(Low Risk Trading)
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Your Forex Account Drawdown: 32%(Medium Risk Trading)
Your Forex Account Drawdown: 35%(High Risk Trading)
Your Forex Account Drawdown: 50%(Medium High Risk Trading)
Your Forex Account Drawdown: 60%(Very High Risk Trading)
--------------------------------------------------Your Forex Account Drawdown: 16%(Low Risk Trading)
Your Forex Account Drawdown: 17%(Very Medium Risk Trading)
Your Forex Account Drawdown: 32%(Medium Risk Trading)
Your Forex Account Drawdown: 35%(High Risk Trading)
Your Forex Account Drawdown: 50%(Medium High Risk Trading)
Your Forex Account Drawdown: 60%(Very High Risk Trading)
Currency Pairs Correlation in Forex Market: Cross Currency Pairs
As
a forex trader, if you check several different currency pairs to find
the trade setups, you should be aware of the currency pairs correlation,
because of two main reasons:
1- You avoid taking the same position with several correlated currency pairs at the same time and so you do not multiply your risk. Additionally, you avoid taking the positions with the currency pairs that move against each other, at the same time. 2- If you know the currency pairs correlations, it may help you to predict the direction and movement of a currency pair, through the signals that you see on the other correlated currency pairs.
Now I explain how currency pairs correlation helps. Lets start with the 4 major currency pairs: EURUSD ; GBPUSD ; USDJPY and USDCHF.
In both of the first two currency pairs (EURUSD and GBPUSD), USD works as the money. As you know, the first currency in currency pairs is known as the commodity and the second one is the money. So when you buy EURUSD, it means you pay USD to buy Euro. In EURUSD and GBPUSD, the currency that works as the money is the same (USD). The commodity of these pairs are both related to two big European economies. These two currencies are highly connected and related to each other and in 99% of the cases they move on the same direction and form the same buy/sell signals. Just recently, because of the economy crisis, they moved a little differently but their main bias is still the same.
What does it mean? It means if EURUSD shows a buy signal, GBPUSD should also show a buy signal with minor differences in the strength and shape of the signal. If you analyze the market and you come to this conclusion that you should go short with EURUSD and at the same time you decided to go long with GBPUSD, it means something is wrong with your analysis and one of your analysis is wrong. So you should not take any position until you see the same signal in both of these pairs. Of course, when these pairs really show two different direction (which rarely happens), it will be a signal to trade EUR-GBP. I will tell you how.
Accordingly, USD-CHF and USDJPY behave so similar but not as similar as EURUSD and GBPUSD, because in USD-CHF and USDJPY, money is different. Swiss Franc and Japanese Yen have some similarities because both of them belong to oil consumer countries but the volume of industrial trades in Japan, makes JPY different.
Generally, when you analyze the four major currency pairs, if you see buy signals in EURUSD and GBPUSD, you should see sell signals in USDJPY. If you also see a sell signal in USD-CHF, then your analysis is more reliable. Otherwise, you have to revise and redo your analysis.
EURUSD, GBPUSD, AUDUSD, NZDUSD, GBPJPY, EURJPY, AUDJPY and NZDJPY usually have the same direction. Just their movement pattern sometimes becomes more similar to each other and sometimes less.
1- You avoid taking the same position with several correlated currency pairs at the same time and so you do not multiply your risk. Additionally, you avoid taking the positions with the currency pairs that move against each other, at the same time. 2- If you know the currency pairs correlations, it may help you to predict the direction and movement of a currency pair, through the signals that you see on the other correlated currency pairs.
Now I explain how currency pairs correlation helps. Lets start with the 4 major currency pairs: EURUSD ; GBPUSD ; USDJPY and USDCHF.
In both of the first two currency pairs (EURUSD and GBPUSD), USD works as the money. As you know, the first currency in currency pairs is known as the commodity and the second one is the money. So when you buy EURUSD, it means you pay USD to buy Euro. In EURUSD and GBPUSD, the currency that works as the money is the same (USD). The commodity of these pairs are both related to two big European economies. These two currencies are highly connected and related to each other and in 99% of the cases they move on the same direction and form the same buy/sell signals. Just recently, because of the economy crisis, they moved a little differently but their main bias is still the same.
What does it mean? It means if EURUSD shows a buy signal, GBPUSD should also show a buy signal with minor differences in the strength and shape of the signal. If you analyze the market and you come to this conclusion that you should go short with EURUSD and at the same time you decided to go long with GBPUSD, it means something is wrong with your analysis and one of your analysis is wrong. So you should not take any position until you see the same signal in both of these pairs. Of course, when these pairs really show two different direction (which rarely happens), it will be a signal to trade EUR-GBP. I will tell you how.
Accordingly, USD-CHF and USDJPY behave so similar but not as similar as EURUSD and GBPUSD, because in USD-CHF and USDJPY, money is different. Swiss Franc and Japanese Yen have some similarities because both of them belong to oil consumer countries but the volume of industrial trades in Japan, makes JPY different.
Generally, when you analyze the four major currency pairs, if you see buy signals in EURUSD and GBPUSD, you should see sell signals in USDJPY. If you also see a sell signal in USD-CHF, then your analysis is more reliable. Otherwise, you have to revise and redo your analysis.
EURUSD, GBPUSD, AUDUSD, NZDUSD, GBPJPY, EURJPY, AUDJPY and NZDJPY usually have the same direction. Just their movement pattern sometimes becomes more similar to each other and sometimes less.
What do I prefer?
If I find a sell signal with EURUSD and GBPUSD and a buy signal with USDJPY, I prefer to take the short position with one of the EURUSD or GBPUSD because downward movements are usually stronger. I will not take the short position with EURUSD or GBPUSD and the long position with USDJPY at the same time, because if any of these positions goes against me, the other one will do the same. So I don’t double my risk by taking two opposite positions with two currency pairs that move against each other.
If I find a sell signal with EURUSD and GBPUSD and a buy signal with USDJPY, I prefer to take the short position with one of the EURUSD or GBPUSD because downward movements are usually stronger. I will not take the short position with EURUSD or GBPUSD and the long position with USDJPY at the same time, because if any of these positions goes against me, the other one will do the same. So I don’t double my risk by taking two opposite positions with two currency pairs that move against each other.
How to use the currency pairs correlation to predict the direction of the market?
When
I have a signal with a pair, but I need confirmation to take the
position, I refer to the correlated currency pairs or cross currency
pairs and look for the confirmation. For example I see a MACD Divergence
in USDCAD four hours chart but there is no close support breakout in
USDCAD four hours or one hour chart. I want to take a short position but
I just need a confirmation. If I wait for the confirmation, it can
become too late and I may miss the chance. I check a correlated currency
pair like USDSGD and if I see a support breakout in it, I take the
short position with USDCAD. Now the question is why I don’t take the
short position with USDSGD and I use its support breakout to go short
with USDCAD? I do it because USDCAD movements are stronger and more
profitable. I use USDSGD just as an indicator to trade USCAD.
It happens that you take a position with a currency pair, but it doesn’t work properly and you don’t know if it was a good decision or not. On the other hand, you don’t see any sharp signal on that currency pair to help you decide if you want to keep the position or close it. In such cases, you can check a correlated currency pair and look for a continuation or reversal signal. It helps you to decide about the position you have.
Sometimes, some correlated currency pairs don’t move in the way that they are supposed to move. For example EURUSD and USDJPY go up at the same time, whereas they usually move against each other. It can happen when Euro value goes up and USD value doesn’t have a significant change, but at the same time JPY value goes down, because of some reason. In these cases, you can use the below table to find and trade the currency pair that its movement is intensified by an unusual movement in two other currency pairs. In this example, if EURUSD and USDJPY go up at the same time, EURJPY will go up much stronger (see the below chart).
Or if EURUSD goes up and AUDUSD goes down at the same time, EUR-AUD goes up strongly.
Another important example: If EURUSD goes up and GBPUSD goes down at the same time, EURGBP goes up strongly. Maybe this is the most important case that we can trade based on this rule. It happens many times that EURUSD and GBPUSD move against each other and that is the best time to trade EURGBP. Now you know why EURGBP doesn’t move strongly most of the time. It is because EURUSD and GBPUSD move in the same direction most of the time. For example they go up at the same time and so EURGBP doesn’t show any significant movement because when both of the currencies of a currency pair go up or down at the same time, that currency pair doesn’t show any strong movement and direction (I hope you know why a currency pair goes up or down. It goes up when the first currency value goes up OR the second currency value goes down. For example EURUSD goes up, if Euro value goes up or USD value goes down. If this happens at the same time, then EURUSD goes up much stronger).
The below chart includes almost all of these unusual movements and their results on the third currency pair.
if EURUSD It happens that you take a position with a currency pair, but it doesn’t work properly and you don’t know if it was a good decision or not. On the other hand, you don’t see any sharp signal on that currency pair to help you decide if you want to keep the position or close it. In such cases, you can check a correlated currency pair and look for a continuation or reversal signal. It helps you to decide about the position you have.
Sometimes, some correlated currency pairs don’t move in the way that they are supposed to move. For example EURUSD and USDJPY go up at the same time, whereas they usually move against each other. It can happen when Euro value goes up and USD value doesn’t have a significant change, but at the same time JPY value goes down, because of some reason. In these cases, you can use the below table to find and trade the currency pair that its movement is intensified by an unusual movement in two other currency pairs. In this example, if EURUSD and USDJPY go up at the same time, EURJPY will go up much stronger (see the below chart).
Or if EURUSD goes up and AUDUSD goes down at the same time, EUR-AUD goes up strongly.
Another important example: If EURUSD goes up and GBPUSD goes down at the same time, EURGBP goes up strongly. Maybe this is the most important case that we can trade based on this rule. It happens many times that EURUSD and GBPUSD move against each other and that is the best time to trade EURGBP. Now you know why EURGBP doesn’t move strongly most of the time. It is because EURUSD and GBPUSD move in the same direction most of the time. For example they go up at the same time and so EURGBP doesn’t show any significant movement because when both of the currencies of a currency pair go up or down at the same time, that currency pair doesn’t show any strong movement and direction (I hope you know why a currency pair goes up or down. It goes up when the first currency value goes up OR the second currency value goes down. For example EURUSD goes up, if Euro value goes up or USD value goes down. If this happens at the same time, then EURUSD goes up much stronger).
The below chart includes almost all of these unusual movements and their results on the third currency pair.
and USDJPY then EURJPY means if EURUSD and USDJPY go up at the same time, then EURJPY goes up much stronger.
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Stock Market and Forex Relationships: How a Stock Move Translates to Currency Trades.
Stock
market movements are watched by casual investors to active traders.
Many times, the movements of the stock markets can give clues about
potential movements in currency trading. Below is a table of general
tendencies that a trader familiar with stock trading can use to guide
them in forex trades.
If the stock market is said to be in a “risk on” mode with prices on the rise, then you tend to see these currencies below trade in noted general directions.
If the stock market is said to be in a “risk on” mode with prices on the rise, then you tend to see these currencies below trade in noted general directions.
For
example, if the stock market moves higher, you tend to see the AUDUSD
move higher as investors seek risky assets. Risky assets include the
stock market and higher yielding currencies which currently are the AUD
and NZD.
At the same time, as investors seek out ‘risky’ assets, currency pairs like the EURAUD and GBPAUD tend to fall as traders look to earn the large daily dividend those pairs offer. This is known as a Carry Trade Strategy.
On the other hand, if traders are in a ‘risk off’ mode and are averse to risk, the opposite of these relationships tend to occur.
At the same time, as investors seek out ‘risky’ assets, currency pairs like the EURAUD and GBPAUD tend to fall as traders look to earn the large daily dividend those pairs offer. This is known as a Carry Trade Strategy.
On the other hand, if traders are in a ‘risk off’ mode and are averse to risk, the opposite of these relationships tend to occur.
Regardless of the movement of the stock market, there generally exists a currency which you can buy. Now, the key is identifying a high probability area to time an entry in the trade. Use levels of support and resistance to identify these key areas with the help of oscillators to indicate momentum.
*Keep in mind correlations move into and out of favor with one another. Therefore, a price of one instrument is not always going to move tick for tick with the other related instrument.
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Forex Money Management
Learn to control risks in trade. Forex smart money management,
Forex Money Management. Trade safe building stable gains.
Money management is a way Forex traders control their money flow: literally IN or OUT of own pockets... Yes, it's simply the knowledge and skills on managing own Forex account.
Money management is a way Forex traders control their money flow: literally IN or OUT of own pockets... Yes, it's simply the knowledge and skills on managing own Forex account.
Forex
brokers will rarely teach traders good money management skills, though
almost all brokers will offer some sort of education, therefore it's
important to also learn on your own.
There are several rules of good money management:
1. Risk only small percentage of a total account.
Why is it so important?
The main idea of the whole trading process is to survive!
Survival is the first task, after which comes making the money.
The main idea of the whole trading process is to survive!
Survival is the first task, after which comes making the money.
