Forex Strategy Builder - best forex trading app iphone

Forex Strategy Builder ~ best forex trading app iphone

Forex Strategy Builder

is complete solution for building and testing on-line foreign exchange market trading strategies. It is free for use and distribution. With Forex Strategy Builders user friendly interface you can create and back test a profitable trading system with just a few clicks. Thanks to the programs automatic system generator a successful market strategy can be quickly produced without detailed technical analysis or programming skills. Using market rates, dating back to the 1980s, Forex Strategy Builder immediately calculates statistics and creates charts for the whole trade. You can easily create and test highly complicated trading systems using a wide variety of indicators and logic allowing for almost infinite combinations.

The program also includes unique interpolation methods yielding reliable test result within each data bar. Forex Strategy Builder looks inside the current time frame using all shorter data periods to produce a realistic market back test, calculates the most profitable combination of parameters for the selected indicators, shows the average result balance between all possible market scenarios (while protecting from curve-fitting), shows you the price fluctuation inside each bar, and recognizes all the ambiguous bars in the back test.

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A Nice Secret as To How a Forex Beginner Can Turn Himself Into a Profitable Forex Trader Within a Short Time ~ cara trading forex demo

A lot of forex traders fail because they are never grateful to the markets. Such forex traders go about their trading experience like the market owes them. They falsely believe that just because they are in a forex trade the market should either rise or fall depending on their current situation. And even when the market rides along, such forex traders will keep holding on for far too long because they have unrealistic market targets. A contrary behavior is held by the grateful forex trader. Let me explain how the grateful forex trader behaves.

The grateful forex trader is never blinded by the number of dollars he has made or lost. To this forex trader, the pips he has gained or lost in each forex trade is what counts. He knows that even though his Metatrader 4 terminal indicates that he is only down by 30 dollars, the pip distance from his entry point might be telling a different story. He is grateful forex trader because the pip story and not the dollar gained or lost guides him into making the decision on whether to stay or exit the trade. The grateful forex trader understands that he might only be down a few dollars when in fact the market has already violated a key area implying that he is wrong on the trade.  

The grateful forex trader also knows just how far a winning trade should be pursued. He is a forex trader with an end goal. He is grateful that the market has such things like support and resistance. This forex trader respects the zones created by the pair he is trading. He is grateful whenever a forex trade reaches a key area at which he either exits or opens a new position. This forex trader never trades exact tops or exact bottoms. He knows that letting your profits run has never meant having unrealistic expectations as to where the trade will reach. He is a grateful forex trader because the market often suggests to him beforehand where to have his take profit levels and stop loss level.

The grateful forex traderappreciates that the market has such a concept as risk reward. And he listens to the call of a good risk reward before he executes a trade. And in recognition of his grateful nature, the forex market lets him turn out profitable even though he may be wrong in half of the forex trades he takes in a given period. This grateful forex trader understands that just because he has discovered his trading set up is not reason enough for him to execute the trade. To understand the greater pictu
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A beginners guide on What is forex ~ forex options trading demo account

Forex is the world’s most traded market characterized by high liquidity and the ability to transact on leverage or borrowed money that is used to increase the value of a position which would otherwise be valueless. It is attractive to most players who come in both for short term or long term speculation. The forex turnover is placed at about US$4 trillion per day. That is what makes it so lucrative and a pulling magnet for those desirous of quick returns. There are a lot of things concerning forex that one needs to know, either as a by the way or by having a mastery before starting on the journey of trading on a real money funded account.

The trading hours

The forex market operates 24 hours a day for five days a week. You can open and close a position between Monday and Friday at either profit or loss. Most trading happens between the period when the London Stock Exchange and the New York Stock Exchange are open. The overlap between the New York and London sessions is normally for about 4 hours. This overlap is regarded as the noisy and high volatility session due to the fact that London and New York constitute the largest trading volume. The Asian Session is regarded as the less noisy session as it is characterized by few data coming out. Data refers to the economic news that affects the movement of currency pairs depending on its level of significance. The Asian session overlaps with the London session for about an hour.

The major market players

The major players in the trading of forex are large institutions such as banks and hedge funds. This is the group that determines currency volatility. It explains why during public holidays in major world economies the markets rarely move. Institutional traders account for the biggest buyers and sellers of currencies online and in its ranks includes both long term and short term trading experts. There are also retail traders and that is where most individual traders fall in. Retail traders are short term investors with a small sized portfolio compared to the banks. Most retail traders hold micro accounts, mini accounts or standard accounts. The standard account is the best place to belong if you consider yourself a professional trader within the retail hierarchy. However it is better to practice through a micro or mini account before funding a standardized account. Incubating an account from micro to mini to standard is probably what you should aspire to achieve when you begin live trading.

The chart system

In forex traders mainly look at charts to make their trading decisions on whether to buy, sell or stay out altogether. The forex chart system includes line charts, bar charts or candlestick charts. All these types of charts reveal the market movements but the candlestick chart reveals the most information that enable good decision making when contemplating to either enter or exit a trade.

Below are the three chart types on the EURUSD weekly timeframe

The line chart

The bar chart

The candlestick chart

Candlesticks are an advanced charting system and every trader must master how to interpret them in order to trade successfully.

The timeframes

Forex can be traded in timeframes as low as the one minute to the monthly timeframe. The timeframe you choose is determined by your style of trading. If you are a scalper, that is a trader who hopes to take very many trades within every few minutes then you will probably prefer the one to fifteen minute chart timeframe as compared to the daily to the monthly chart timeframe. On the other hand, if you seek to hold your trades for longer periods exceeding a few days or weeks then the higher timeframes should be your preserve. Forex beginners tend to blow up their capital trading the lower timeframes with the twisted logic that it is the way to make more money. But the few that gain ground are those that discover very early in the day that one correct trade in the higher timeframes is better than too many trades taken in the lower timeframes. The higher timeframes for those with the mastery is like a diamond mine that never gets depleted.

The  EURUSD one minute timeframe chart

The EURUSD monthly timeframe chart

Note that in above EURUSD charts, the monthly chart has more relevant information for the trader compared to the one minute timeframe chart. Whereas you can not tell where the exact trend for the EURUSD pair is on the one minute chart, it takes less that a second to realize that the trend is down when you look at the monthly chart timeframe.

The trading platform

Forex is traded either on a trade station provided by a forex broker or on a meta trader 4. Trade stations are customized depending on the broker you have opened an account with. The universal trading platform is however the Meta trader 4 that is provided by nearly all forex brokers around the world. The Meta trader 4 has functionalities that enable you to control the risk amount per trade. These include control tabs like the entry and exit button, the trailing stop and the stop loss button and the take profit button. The problem with the trailing stop on the meta trader 4 is that it only trails your profits when you are logged onto the internet. That is one great advantage that the trade stations customized by brokers have over it.

The forex broker

The brokers are mostly market makers. This means that they are always trading against you. They do this because it is the only way that you can get to enter  a trade on time. So that if you buy the EURUSD pair from them, they must respond when you decide to sell. They have liquidity providers which feed them with every move you see on your charts. You’ll notice that if your broker is a bank the execution will be faster than when using the typical market maker. Make sure you use a regulated broker. Avoid brokers that are non regulated and who work under white labels. These are mostly retail brokers who cant pay and wont pay any claim. They are scammers in other words. We have recommended trusted huge and trusted brokers in articles such as why you should be trading with more than oneforex broker.

The costs you pay for entering a trade

Normally you pay your broker something called the spread. It is the amount the broker charges you for entering a trade and it does not matter that the trade closes in profits or loses. The spread is paid immediately you enter a trade. That is why if you take a trade today you will notice that your account will be on the negative until after a few moves. The spread for the major currencies is lower compared to those of the cross currencies. You also pay the broker the roll over fees. This is fees paid if you hold a trade overnight to another trading day. Depending on the currency pair you are trading and whether you have bought or sold, there are occasions when the broker pays you for every trade held overnight.

How much money should you start trading with?

This depends on your level of experience. There is no one size fits all in this regard. It also depends on how risk averse you are. Where are you getting your trading capital and how will your life be if you lose. One thing I can say for certain is that your trading capital cannot be a loan or house rent or your children’s education fund.you can start with US$ 100. That is not bad. Some people start even with US$ 10 and manage to build it up. We have a nice article relating to the amount of money top open a forex account with. It is titled how much money should one start tradingwith? You should read it. We have argued in that article that you don’t have to be rich to trade forex. At the end of the day money management is what counts. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

How to fund your forex trading account

There are many ways to use while funding your trading account. We have written a lot on this subject on articles such as howto fund your forex account and why you should not fund your trading account byway of a debit card. If you read any of those two articles you will know why we recommend faster ways of funding an account. The wire transfer method is safe, but it is not fast and at times leads to double bank charges. The cost is even high if you hold a trading account that is in denomination that is different to your bank’s currency denomination. If you want to deposit by wire transfer, your forex broker will give you details about the ban account to send the money to. Credit cards and debit cards are faster but when they get lost it can lead to unnecessary headache. If you read those articles you will find out why we approve of Neteller.

Can it be taught?

Forex trading can be taught but only by the experts. We have written on this subject- please read can forex trading be taught? and whyforex in the books is a falacy? These two articles go deeper into what you should look out for when seeking out for a forex tutor. Our take on this issue is that even though forex trading can be taught you are better off mastering it by yourself. You are your best tutor when it comes to learning how to trade forex. Remember that you do not need any academic qualifications to trade the markets. Most of forex is just pure common sense. Read you do not need a universitydegree to trade the forex market.

The advantage

The advantages that come with trading forex are immense. With great experience you can turn it into your sole source of livelihood. People make thousands of dollars per trade per day. It is a kind of work that relieves you from the duty calls associated with the traditional jobs that over time turn you into a whimp of routine.  You are your own employer and you trade when when it suits you. And by the way you don’t have to resign your current job to trade forex. With a nice trading idea all you need is a few minutes every day to check how your open positions are holding. If you choose to open a trading agency then that is a different story. You might need to be present at your station for the better part of the day to serve your clients. If you don’t know the meaning of some of the words that I am using here then you should read forex jagons for the forex beginner.

The disadvantage

The forex market is unforgiving to those who don’t know what they are doing. Don’t come and try guessing with the markets. You can lose your entire investment in minutes if you are not familiar with the correct trading hours and the all important aspect of money management. Another disadvantage with forex is that because of its high profitability, it has attracted very many scammers clothed either as professional traders or forex brokers. To help you be on the look out we wrote six tips on how to avoid a bad forex broker and how forexbrokers are turning the trading of forex into a scam.

Conclusion

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My duel with Bforex - forex trading demo uk

My duel with Bforex ~ forex trading demo uk

If you are a loyal follower of this blog through sites such as google+ or facebook then you are abundantly familiar with what we do here. We investigate you, your broker and the markets. Such has been our pre-occupation for over 3 years. When we ran the forex brokerage chicanery series, some brokers called and demanded that we apologize. Read- forex broker’s agent demands an apology. When we discovered that Profit Venture Limited was not paying back their clients through their managed account program, we exclusively reported it to you and raised the
forex scam alert levels in Kenya to code red. When we immersed ourselves into tracking the activities of VIPortal, we were the only online forum that came to the saner conclusion that these young men were simply victims of an environment hostile to new ideas. And this showed that not always have we been against brokers. The piece titled, “Is time ripe for a forex brokers’ anti defamation league?” can attest to this fact.

Yet now, another scam broker has hit our radar. And we must stay true to our obligation of reporting it to you lest our conscience gets hold of us for vitiating our role. This time round we cross continents into mother Russia- the place where this writer had a duel with a bforex representative through a phone conversation. This is how it all went down.

Bforex had contacted one of the new traders enrolled to our mentorship program after he opened a demo account with them. He was promised free trading tutorials if he could deposit 250 dollars into his new trading account. He declined. But what caused this learner to report the matter to us is that the phone calls became endless.

“I felt like they were coercing me to fund an account by taking advantage of my greyness about the markets.” The learner reported.

When the bforex agent called again I answered the call and pretended to be the learner. It was a Russian lady on the other side of the world talking from a place that sounded like a noisy Russian street. She went straight to the point- giving directions on how the account was to be funded. I told her that I had changed my mind and was no longer going to fund the account with them. That is when she began lecturing me on high grade nonsense about how I had wasted her time. I replied that I never asked her to call me in the first place. She got irritated by this. I could hear her breath fast. A moment of silence passed then she used the “f” word on me followed by a couple of Russian words that I could not fathom. I cannot remember who hung up the phone first. All I know is that I found myself laughing aloud. Perhaps out of the thrill that I had once again apprehended evil before it could ruin another first time trader.

This short event got me thinking a lot. Which brokerage conducts business on a nosy street? Do they all not aspire to portray the admirable beauty of corporate culture hoping that it might be created on our minds through phone conversations? Which brokerage demands that you deposit money before you even get verified by way of government issued documentation? Don’t most of them insist that your account is never active until you are verified? And last but not least. Which brokerage uses the “F” word on a prospective client? Don’t they all survive on the ability to extend first class customer support so as to attract more traders due to the high industry competition brought about by the white label retail brokerage entities?

The answer to the three questions is- NONE. And that begs a further question. What is bforex then? It is a scam. I checked all over the internet for a single 5 star review rating for this broker to no avail. The FPA rates them as a scam and the FCA of London prohibits any sought of business by them in that part of the world. All these are clear proof that what I am talking about is in no way a compendium of heresy. There are red flags popping up whenever bforex is mentioned. Template answers emanating from brokers either for trading or affiliate concerns have become commonplace everyday assumptions that to transact with a broker and never fail to find one is next to impossibility. But to meet a broker with agents who openly abuse you is just outside the trading world. This is a record broker. A message to bforex is that when you choose the scammer’s path it is much better to be the best scammer. Do not be the worst scammer. Abuses cannot cover your trails. They only subject you to more inquisition and doubt by your would be victims.

Be on the watch then for bforex. Mark it as an entity of interest in perpetuity when sniffing out for scams. Such brokers are skilled at reinventing themselves. When the heat is too much, they simply close shop and reincarnate into a new brand but with the same old habits. And scammers will often be a step ahead of you. You have to develop a seventh sense and an eagle’s eye to put them at arms length. Bforex has another subsidiary white label under the name mecaforex. This is proof enough that you should be very afraid.

Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

Read: How price action traders can benefit from the VSA Indicator

          What lessons can forex traders learn from Murphys law?

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How to trade the weekly and monthly forex charts - best forex trading demo

How to trade the weekly and monthly forex charts ~ best forex trading demo

Selling on the weekly chart is one of the easiest ways to make money trading forex. Markets are always ranging, and when the range is broken it pays well to maintain a sell limit order at the broken support. This is because whenever the price breaks a range it must always retest the previous support before moving further down. The trick is to maintain a pending order on the previous support level.

The disadvantage with this trading strategy is the lack of a clear place to maintain the stop out level. But as long as you draw the mental line and decide that you are comfortable with losing a particular dollar amount, it will work out well for you.

The strategy almost never fails when selling but has a mixed bag of fruits whenever you seek to buy when the resistance level has been broken passed the range.

Do also note that this strategy works well on the weekly and monthly charts. This strategy also offers an early sell or buy signal on the daily chart close.

Try it out in your demo or real account and see the results.

This is how the weekly XAGUSD looked after the breakout. We maintained a sell limit order at point A after the close of the breakout candle on the weekly chart.

This is what happened after a few weeks and it definitely provided a nice return for those who waited for the previous support to be tested.

Note that on the daily chart this strategy gave us an early sell entry through a set up that most newbies must have probably used to go long instead of going short.
Do not lose your initial trading capital. Call us today on 0725 050 419 for the best forex trading orientation.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

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Call us today on 0725 050 419 for the best forex trading orientation.

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Cable out of 200 pips box - forex market monitor news

Cable out of 200 pips box ~ forex market monitor news

Cable has broken out of the 200 pips box and appears to be heading toward the next box. Price movement is simply a matter of habits. History keeps repeating itself over and over again.



Look at the candle between between 1.57147 and 1.58534 both on the way up and down. I single H4 candle. Also look at the candle on the way down from 1.60000 which closed on 1.56396 and the current candle which took which close outside the box.



If we break the resistance at 1.58535 our next destination is most likely the next zone between 1.58535 - 1.60000. If the resistance hold however, we have landing where the candle took of from i.e. 1.57000 - 1-55000
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