| Many think that analyzing forex is hard and filled | | | | to the condition of the field that day. It is too |
| with mathematical concepts and many is willing to | | | | risky if we try to predict that the price will be |
| pay millions for market courses so they | | | | bullis or bearish at certain price level. Then we |
| understand the technical analysis with graphics and | | | | have to wait for the perfect moment to enter |
| so on. But we are confused by ourselves which | | | | the market that is when the chance has come. |
| frame will we choose, single minute, five minutes | | | | The main key is to stay close to our |
| or daily.If we think logically, clear, and ease we will | | | | trades.Trading must be discipline, disciplne following |
| see signals that actually exist but we can't see | | | | systems and patterns that we have already set. |
| because there's indicators blur it. KISS = keep it | | | | Greed can cause a very fatal condition. Many |
| simple stupid, is basic to be implemented | | | | failures started only by the simplest of mistakes. |
| everywhere.To be successful in trading there's | | | | Miscalculations happened, and if those happens |
| some principals to follow. When you're trading | | | | then we have to cut-loss or else we will beburden. |
| then you'll have to think as a trader, buy at low | | | | Then think positive that there's always better |
| price and sell at high price is the number one rule. | | | | times tomorrow.You can enter without having to |
| Whether you're playing stocks, commodities, or | | | | know graphics and charts. The basic in decision |
| forex keep the basic traders' principals.Trading | | | | making is the highest and the lowest price range |
| forex lasts for 24 hours. If we're in Indonesia, the | | | | everyday. If the price moves to the highest price |
| Australian market starts at 04:00 early in the | | | | that day, wait, because the price will try to get |
| morning, then the Japanese market at 14:30. | | | | through the highest price that day. Just look at |
| Starts next is European market at 20:30 and the | | | | the daily range. For Euro/USD, the daily range is |
| last one to open is the American market which | | | | 98 points when we enter the market, there's a |
| will close at 04:30 the next morning.Based on | | | | possibility that it might pass 98 points that day |
| experience, time is very important to the | | | | then the price will decline again because there will |
| outcome of the trade whether we will win or lose. | | | | be profit taking action.If you are risk taker, you |
| Mostly the price is going steadily from the | | | | can make profit when there's a price correction |
| morning till afternoon Indonesia time. The ups and | | | | and actually you will get two gains at a time that |
| downs of the price start when the European | | | | is when the price goes up for a moment for then |
| market opens. Then when the American market | | | | goes for reversal. This can be done but beginners |
| sessions are open, we have a very good chance | | | | are adviced not to do this and everyone who |
| to gain big profits in short time only if we can | | | | hasn't a good experience about the market. You |
| position ourselves in a good position.The way to | | | | could try at the virtual forex first to understand |
| determine the buy and sell position. Looking at the | | | | the situation.Don't forget to pay attention to the |
| daily phenomena it is better for us to trade at | | | | currency that is opposite to the one you are |
| American time. The first step is to count the | | | | trading. Example in this case you hold Euro/USD, |
| price range (high and low) from currency pairs | | | | you have to pay attention to opposite currency |
| that day. There are four commons currency | | | | such as USD/JPY. Because at the same time USD |
| traded:* EUR/USD Daily range average : 110-120 | | | | JPY will try to touch the lowest point before at |
| points* GBP/USD Daily range average : 180-200 | | | | the end go for reversal.With the usage of |
| points* USD/CHF Daily range average : 120-130 | | | | graphics, we can get very good informations. It is |
| points* USD/JPY Daily range average : 80-90 | | | | also better if we use some softwares for trading |
| pointsThe numbers above is not fixed but at least | | | | we could only watch the time frame for 5-15 |
| when we enter the market we know that we're | | | | minutes. The indicator that is used is Bollinger band |
| in the right position. Eventhough this won't | | | | and if you're not pretty sure you can add RSI |
| guarantee a 100% win.If we look at closely | | | | indicator with 6 as it setting period. But back to |
| there's a certain pattern from those four pairs of | | | | basic, the important thing is the daily range of |
| currency that is Euro/USD and GBP/USD walks | | | | highs and lows. If there is break high and break |
| the line together and 180 degree from USD/JPY | | | | low, you then go watch the candlestick and focus |
| and USD/CHF. If Euro/USD and GBP/USD is going | | | | on the five-minute frame.Many are trapped |
| high than the USD/JPY and USD/CHF is going the | | | | focusing on the graphics like the Ma lines has |
| other way, vice versa.But things don't always go | | | | crossed or it hasn't and many more. Actually at |
| this way. There's a moment where a currency is | | | | this time, price range hasn't become mature yet, |
| on his own and the other at the usual pattern. If | | | | and of course makes things risky. Once again it is |
| this happens than the curruency that is has a | | | | necessary to look at the mature price range.The |
| stable movement is on its lowest or at its top | | | | usage of pivot, support, and resistant point can |
| and the currency has a mature daily range (close | | | | also sharpen your decision. But once again the |
| to the currency's average daily range).There's no | | | | price range is all matter for decision making and |
| certain rule that says a pair of currency is easier | | | | you shouldn't be doubtful because of any other |
| to trade than the other, every currency have | | | | indicators. For example Euro/USD has gone |
| their own chances, and it is better for us to | | | | through break high. Look at the five-minute chart |
| adjust to our margin that we have. The Euro | | | | than the candlestick will touch the upper bollinger |
| USD and USD/JPY movement is far more stable | | | | band or even more. You can wait a bit more so it |
| at range of 100 points and this make the | | | | can get to the very top, then when you feel |
| currency safer to be traded with the smallest of | | | | there's a reversal you can do your entry.Price |
| our margin compare to GBP/USD and USD/CHF | | | | movement is very complex that affect four |
| which range in the 200 points.From the | | | | world main currency one another. This can't be |
| phenomena above a conclusion can be taken, that | | | | explained in detail. Overbought and oversold aren't |
| money is traded by top-class speculators like | | | | basically call upon the five-minute or the |
| George Soros only on four world main currency. | | | | fifteen-minute frame. This signal will come to you |
| This is to balance the daily volume and price so at | | | | as you practice, use your logic and amazing things |
| the closing stage the currency will be at their | | | | will happen.Trading is not a exact science so don't |
| average range of high and low.The price | | | | waste your money for courses that will |
| movement can actually be determined by the | | | | guarantee your success.The main key is practice. |
| movement of each currency pairs. Analysis | | | | There are many source of informations such as |
| approach fundamentally with watching close the | | | | newspapers, internet, and mailing lists.Tricks above |
| news is reflected from the price movement. We | | | | doesn't promise you a profit but at least if you |
| can read schedule of economic news just to | | | | implement the logic you will the be on the right |
| watch it for hours and only waiting for certain | | | | track. You will have the basic of |
| news. Close to those times there are possibilities | | | | decision-making.The recipee is, at the opening of |
| of extreme price changes.Knowing when ther's | | | | the market, choose currency that is there.Nofie |
| going to be an extreme price movement we can | | | | Iman is a full-time investor. He has been |
| at least save times and we don't need a whole | | | | researching investment strategies since 1998 and |
| day to watch the price movements in the | | | | make his own living from stock investment and |
| monitors, except it is a hobby and doesn't bother | | | | forex trading. For more information, please take a |
| you that much.In trading it is better if we adjust | | | | look at here. |