The four questions every forex beginner must ask himself before taking a trade - forex trading demo software india

The four questions every forex beginner must ask himself before taking a trade ~ forex trading demo software india

If you have been trading profitably this will not be news to you. There are four questions which if all answered in the affirmative will ensure the preservation of your trading capital. I started off with a very small account- micro, and did not enjoy the luxury of margin of error in those first weeks so I often stress the need for capital preservation. The problem with small forex accounts is that you cannot afford to be wrong for a couple of times in a row.
The habit of asking myself these four questions for every trade I take was cultivated by the vow I had made when I had just started trading never to refinance my account again. They are now part of my old trading habits which I would not want to see dye away. These four questions do not require you to overhaul your trading strategy. As a matter of fact it is just about incorporating them into your current style of trading.

The first question I ask myself is- is there a trend? Trend in this perspective does not mean movements in the lower timeframes like the 5 minute or 15 minute chart. Trend refers to a biased directional move of a currency for a couple of days. That implies that I am more into the daily chart in determining the trend of a currency pair.

Once I have determined whether the trend is up or down, my next question is always- is there a reversal pattern. The reversal pattern will only be confirmed at the close of each trading day. For an uptrend I will be looking for a bearish reversal pattern. For a downtrend I will be looking for a bullish reversal pattern. There are dozens of bullish and bearish reversal patterns which are only familiar to those who have mastered candlesticks. To constitute a complete reversal pattern, candlesticks will be single, double or triple reversal confirmations.

The next question is always this- is the reversal pattern forming at a key market level? A bearish confirmation is only relevant if the reversal signal forms at an area of resistance. On the other hand, a bullish confirmation is only relevant if the reversal signal forms at an area of support. The reason I insist on a support or resistance zone is because more often than note a trend is not complete until a support or resistance zone is reached and any reversal patterns that form before then are nothing but traps intended to lure the unsuspecting traders.

The last question is equally important. Is there a nice risk reward? It is not enough that there is a trend, and the trend has been followed by a reversal pattern in a resistance or support zone, the trade must have a nice risk reward. A nice risk reward is where your reward if any far outstrips your risk in the trade you intend to take. If every other thing is present but the risk reward is still bad, I will not take the trade.

The four questions must all be answered in the affirmative. A negative on one of those questions invalidates the trade and I must wait for another day or peruse a different currency pair. These four questions can help any struggling trader and increase their portfolio at a faster rate. If you can memorize them before your next trade it will be good. If you cant it will be ideal thing to just write them down and create a check box to use in your next trade. Remember, that all the four questions must be answered in the affirmative.

Read: How price action traders can benefit from VSA Indicator
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.
Call us today on 0725 050 419 for the best forex trading orientation.

More info for The four questions every forex beginner must ask himself before taking a trade ~ forex trading demo software india:

Read More..

INSIDE BAR STRATEGY - forex trading education in urdu

INSIDE BAR STRATEGY ~ forex trading education in urdu

Inside Bar Trading Strategy, you may be wondering what an inside bar is… 

WHAT IS AN INSIDE BAR?

The main inside bar setup consists of 2 candlesticks.

1. first candlestick(the preceding candlestick bar) is what is called the “mother candlestick” and the
2. next 2nd candlestick is called the “baby” candlestick”. This baby candlestick is the inside bar. Imaging a pregnant women? Makes sense, doesn’t it? Well that’s the exact picture of an inside bar candlestick formation.

Look at the forex chart below…that’s an inside bars look like!

The inside bar is a candlestick that:

1. forms within the trading range(or shadow) of the preceding bar.
2. it is a two candlestick formation
3. the mother candlestick can be either bullish(green) or bearish(read)
4. The inside bar can be bullish or bearish.

WHY DO INSIDE BARS FORM?

What drives inside bars to form the way they do? What is the reason

Read more
More info for INSIDE BAR STRATEGY ~ forex trading education in urdu:

Read More..

THE MASTERTRADER E BOOK SERIES IS OUT - forex news trader ea

THE MASTERTRADER E BOOK SERIES IS OUT ~ forex news trader ea

It is my pleasure to to inform my visitors that my online-foreign exchange (forex) e-books are out.  The books come with live training sessions via Skype.  These books contain high-quality trading techniques and do not come cheap.  Only serious traders are advised to express interest.

More info for THE MASTERTRADER E BOOK SERIES IS OUT ~ forex news trader ea:

Read More..

Pip Values - forex trading app download

Pip Values ~ forex trading app download

2-Pip Values

In most cases, a pip is equal to .01% of the quote currency, thus, 10,000 pips = 1 unit of currency. In USD, 100 pips = 1 penny, and 10,000 pips = $1. A well known exception is for the Japanese yen (JPY) in which a pip is worth 1% of the yen, because the yen has little value compared to other currencies. Since there are about 120 yen to 1 USD, a pip in USD is close in value to a pip in JPY. (See Currency Quotes; Pips; Bid/Ask Quotes; Cross Currency Quotes for an introduction.)

Because the quote currency of a currency pair is the quoted price (hence, the name), the value of the pip is in the quote currency. So, for instance, for EUR/USD, the pip is equal to 0.0001 USD, but for USD/EUR, the pip is equal to 0.0001 Euro. If the conversion rate for Euros to dollars is 1.35, then a Euro pip = 0.000135 dollars.

For more information

More info for Pip Values ~ forex trading app download:

Read More..

A Word to the Facebook Junky that Ignores Online Forex Trading ~ forex news trader expert advisor

Let’s face it. We all love tweeting and facebooking. Whether in offices or lecture rooms, we update our facebook status more often than we do our personal diaries. We tell the world of opportunities coming our way even before ascertaining them and the rosy side of our love life. The sad fact is that the world does not care an inch about all that stuff that we keep putting online at the interval of every hour.

But how much do you use when you are logged into that facebook account or tweeting? Statistic has shown that last year alone the East African youths spent a whooping Kshs. 20 billion on facebook and tweeter. You wonder why telecom companies are swiftly upgrading their internet services. They’ve come to the realization that the East African Youths, particularly Kenyans, are facebook junkies.

It is said that better to be a facebook junky than a drug junky. I believe that both forms of addiction are negative and unnecessary. They are a waste of resources and valuable time. The average youth is concerned more about his online image than the actual image of his real life. Where are you headed with that virtual world? Ask yourself, how much of the 20 billion shillings did you contribute and what benefit did you derive from it. With a little stock taking you’ll discover that at the end of every month you are just as wasteful as a drug junky.

I am not decampaigning any social site; my agitation is aimed at showing you a holistic treatment to your online presence that could contribute positively to your livelihood. A lot of youths are busy pouring venom on their own governments for failure to end youth unemployment through facebook posts. Some are busy seeking for nothing but sympathy by telling the world of how they’ve done their best to  graduate from colleges and schools only to add up to the growing statistic of the unemployed. Well, we said earlier that no body cares about that stuff and at the end of the day you are just on your own.

My agony with these youths that complain about unemployment is that they have not realized just how much they could cash in on the many opportunities that come along with their presence online. Most of these youths have even got laptops which makes it all the more easier for them to make money online.

Next time before you update a facebook status complaining about unemployment, ask yourself whether you’ve tried enough in your quest for self sustenance. Government will not call you for a job. It doesn’t even call PHD holders and you wont be an exception. Log out of that facebook page and seek for one of the innumerable opportunities waiting for you online. After that you can only complain about double taxation when money begins flowing your way. Then, we will empathize with you for your hard earned sweat that government still subjects to double taxation regime.

Below is a small piece about online forex trading, one of the avenues through which you could make money online.

Online forex trading is the best place for Kenyans and other East African youths seeking to make money online. The better part of online forex trading is that you are accountable to no one. If you’ve had a long held dream of being self employed then online forex trading is the best deal for you and every other Kenyan youth. The working schedule for the online forex trader is not fixed and that implies that any Kenyan can use his spare time to make money in the online forex market.

 No qualification is required for any Kenyan who wishes to make money trading forex online. Unlike other opportunities that require a certain level of education, online forex trading can be done by any Kenyan with basic education and the ability to read and write. Making money by trading forex online is a technique that can be understood by any body that reads the materials all over the internet in relation to online forex trading.

Kenyans wishing to make money in the online forex market can begin trading as soon as they have mastered a particular trading strategy and have understood the best currency pairs to trade and the best times to trade. In addition to this, for any Kenyan to make money trading forex online, they must understand what leverageis, the advantages of using limit orderssuch as stop loss orders and take profit orders, and the attributes of a good forex broker.

Making money trading forex online is open to all Kenyans and East Africans who are over 18 years. There is need for the aspiring forex trader to have a bank account through which he or she will transact with the forex broker.

The Kenyan wishing to make money online by trading forex must also have a certain degree of computer literacy. This is because most forex brokers use computer software to support their trading stations. The need for a personal computer is necessary but not essential because online forex trading can be conducted through the cyber cafes. For convenience however, and in order to access the services of brokers that send the forex trading software to your desktop, it is advisable that every  Kenyan who is serious about making money while trading forex online should have a personal computer.

The amount that one begins trading with is not fixed. Some brokers permit opening of a micro account with $ 50 while others require $ 200. Aspiring online forex traders should however try and begin with between Kshs. 10 000 and Kshs. 20 000. This is to make sure that in case of a losing trade, the forex trader has another chance to make money on another day.

Online forex trading is not hard and any Kenyan with a passion to hard work and reading will be good at it in a month- at least as far as knowing how to trade a particular strategy is concerned. Demo trading is part and parcel of learning how to trade in the online forex market. The aspiring Kenyan forex trader can also use the simulators to quickly master their forex trading strategy. The good news is that opening a Demo account or trading using a simulator is absolutely free.

Forex trading is fun and can solely sustain your livelihood if you’ve got the skill and discipline of trading. Skill can be acquired within a month, but discipline is a combination of many factors and is what destroys most of the new traders in the forex market.

Before you begin online forex trading, you should understand the following:

·         Risk Reward Ratio in online forex trading

·         Lot Size and Position Size in online forex trading

·         Margin and Leverage in online forex trading

·         Money Management in online forex trading

·         Limit Orders in online forex trading

·         A forex trading strategy

If you’ve mastered the above aspects of the online forex market, then you are ready to make money as a successful forex trader.
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. 
Call us today on 0725 050 419 for the best forex trading orientation.

Read More..

Forex Trading - forex trading indicator apps for android

Forex Trading ~ forex trading indicator apps for android

Forex Trading

So you want to be a forex trader. Thats great, but its not for everyone. I dont want to scare anyone away from the forex market through this article, but I just want people to see what kind of feelings and thoughts go through your mind while trading. Forex can be an extremely profitable career or just a way to make an extra few hundred bucks a month. It can also leave your account high and dry in a matter of moments.

It takes more than technical analysis and fundamental analysis to become a successful trader. Your mindset, or psychology, is equally if not more important than these other factors. I did not think this was the case when I opened my first live account. There is a huge difference between trading on a demo account and trading on a live account. The difference is the stress that goes along with a live account. Your using real money! This is why many traders do fairly well on a demo account, but when they open a live account everything falls apart. This is also the reason why the majority of traders lose their entire account the first time they give a live account a try

for more information

More info for Forex Trading ~ forex trading indicator apps for android:

Read More..