Archive for the ‘fibonacci trading forex’ Category
follow up to the smash hit Forex Killer the best selling forex software online with the highest gravity. this is Brand New! http://www.forexautopilot.com/affiliates.html for more information!
Forex Autopilot – robots trading the forex market
Most forex traders think they have to predict where currencies will go next to win but this relies on hope and guessing and the market will kill you – most novice forex traders make this mistake and lose. There is another way and it will make you money so let’s look at it.
The Myth of Market Prediction
There are many people on the net that claim you can predict markets in advance and their Wrong and the facts confirm this:
1. If you could predict prices in advance with scientific theory then we would all know the price and there would be no market – that’s common sense! A market is market because it’s unpredictable and moves because people hold different opinions.
Now you get a lot of scientific theories the king being Elliot wave but that never made Elliot any money and is not scientific its all subjective judgement – if its subjective its not a scientific predictive theory!
You also get Fibonacci numbers prices are supposed to retrace to exact levels but they don’t – try it and lose. This theory is nothing to do with financial markets and was actually devised to solve a problem based on the copulation of rabbits! And has nothing to do with finance.
So if you can’t predict how can you win?
You trade the odds and trade on confirmation and this means simply following price momentum.
For example if prices dip towards a level of support you don’t assume it is going to hold – you WAIT and get confirmation and that means prices testing support and then turning up. You then trade with price momentum.
You are not guessing or hoping you are trading the reality of price.
If you don’t use momentum indicators now is the time to learn. There are many indicators to choose from, but two of the best are the:
Relative Strength Index and Stochastic
Why the odds are in your favour?
You are trading the odds.
Forex is an odds game you will lose trades but if you trade with the odds, you will have more winners than losers and pile up big money over time.
So when you trade forex don’t predict and rely on hope trade the reality, trade the odds and make money – losing forex traders think they need to predict to win but as we have just shown, you this is a myth and will simply see you lose.
Trade the smart way on confirmation and get the odds in your favour for big forex profits
NEW! 5 X Critical Trader PDF’s & Much More
Claim your FREE PDF’s and demo account and learn Forex Trading and also get: Breaking financial news, tight pip spreads, guaranteed stops $100.00 minimum investment and 400:1 leverage at http://www.freeforexguidesonline.com
forex: GBP/USD hits fresh daily high at 1.5468
FXstreet.com (Córdoba) – The Pound rose barely above previous daily highs against the Dollar and reached 1.5468. The pair is holding near the 1.5460 zone, above immediate resistance levels lie at 1.5480 (highest price of yesterday’s American session); 1.5505 (Aug 24 high) and 1.5530. Support levels are located at 1.5420 and 1.5390 (daily low).
Read more on The Forex Market
One of the most important points you need to learn in terms of basic forex education is – that if you want to win at forex trading, do not make the mistake of trying to predict prices in advance, if you do you will lose. Here we will explain why and give a better way to trade.
We don’t know the future and if you try predicting it or forex prices you are simply hoping or guessing and that will not get you anywhere in life and certainly not in forex trading.
Most traders make this mistake when trading:
They spot prices moving to a support or resistance level and then simply jump in the market and execute their trading signal – this is totally wrong and is guaranteed to lose you money over time.
Why?
Well if the price is moving to support and the trend is down why anticipate?
What you should do is waiting for prices to come to support and then start moving away – this is the correct time to execute your trading signal and to do this properly you need to learn about momentum oscillators which will help you determine when price momentum is moving in your favour.
We have written numerous articles on the use of these, so look them up and if you want to look at some good ones check out the Relative Strength Index and the stochastic, there excellent simple indicators you can learn to use in 30 minutes which is time well spent!
REMEMBER THIS:
Trading is a game of odds and to get the odds on your side, you should always trade with momentum on your side.
Do not believe the far out investment crowd who tell you there is a scientific formula for market movement – there isn’t
If there was we would all know the price in advance and there would be no market!
There are many vendors selling forex trading systems based upon the works of – Fibonacci, Elliot and Gann and they didn’t make any money for them and won’t make money for you.
If you want to trade forex successfully then as part of your forex education you must learn how to confirm your trading signals with momentum indicators. If you do, you will have a head start on your way to forex trading success.
PROFESSIONAL forex TRADING COURSE
and FREE ESSENTIAL TRADER PDFS
For free 2 x trading Pdf’s with 90 of pages of essential info and an exclusive Forex trading course visit our website at: http://www.learncurrencytradingonline.com
Forex Quick Cash is revolutionizing the world of forex. We have professional traders that will send daily trade calls and let you make the same trades they are making! Huge commissions and low refund rate!
Forex Quick Cash – 100% Automatic Trade Call Service
