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Atricle Dump - Forex Secret - Specificities In The Intra-Day Work At Forex
Andy is a local entrepreneur who knows that he needs to employ people. The business is Andy's creation and the idea of managing a team is quite frightening for him.He has struggled to do all the jobs but Andy is limited to 24 hours each day, he is working continuously without leisure time and he realises that he needs help before his health and sanity suffers.What values and business ethos do you have?Of course, he is protective - he has run the whole business for four years, no procedures are written down, his policies for taking decisions are held in his own head and he believes that no one can improve the job he is doing.My uncomfortable task is to coach him to his goal "I want to grow, I want to delegate, I want excellent staff to multiply my efforts".Before starting the selection process, we struggled to write job descriptions, create work procedures and set up the office administrative processes. Doing this on his own was too hard so we found some experienced HR people to do this preparation.Who do you hire to replace yourself?Next we used the same help to define selection criteria and set up a recruitment campaign. Andy wanted to select with the same skills as he uses. He was also tempted to employ people who are less skilled than he is.I asked 'Why not go more skill and ability if we can afford it?' Andy knows he is the best at doing his job, so it makes sense when delegating parts of his job to bring in new people with different skills.When do you work on the business?After working four years in the business, Andy has now found a team to run his business. He has suddenly found how poorly the business did when he worked on his own.Now he spends at least one day a week working on the business - looking at opportunities, watching
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (conclu
What you have to remember when starting up your Ebay business is that it is no different from any other business venture. The business world is all about buying and selling and so is your Ebay project. Conduct all your business transactions in a professional manner then you your product or service will be taken seriously.Running a business is not as big a mission that people make it out to be. However it can prove to be stressful at times - but you can change that by having an organised system. Organization should be one of the main priorities right from the start. Keeping on top is important - keep data up to date and file all files this will help your Ebay business to run smooth thus saving you time.Most Ebay business`s are run from home so choose a room in the house that you can create as an office area to do business. An office type surrounding will encourage you more in your Ebay business. Everyone has a business plan structured up so why not you - remember you are in business for yourself now. Write your Ebay plan accordingly to comply with Ebay`s rules and regulations. Jot down your goals you expect to achieve - profits from sales or whatever comes to mind to claim success. Go research on how other Ebay sellers are successful in their business.Another vital addition is to have an Ebay business checklist drawn up and easily at hand - list all that you would need to start up - like organizing your products for auction, this will include itemized tasks like the photo shoot, writing out a description for the sale item and remember to answer all emails - we are looking to run this Ebay business professionally and prompt replies to questions or queries is where you will gain respect from your customers. Respect can bring repeat orders.The product or service you choose to sell in your Ebay business is entirely up to you but please do a little research on this matter - the reason being
· the intra-session trend;
· the weekly trend;
· the trend of duration of several weeks;
· the trend of duration of several months.
A zigzag-like movement of any currency pair at Forex consists of various combinations of such trends. A smaller trend makes an integral component of a bigger trend (either the trend wave, or, on the contrary, the retracement (correction) of a longer trend towards the opposite direction).
What any trader wants to know about Forex.
An individual is interested in knowing the correlation at least between the first (and shortest) trends at the beginning of the trade but not at the end of it. That is, one wants to learn the clear and simple rules, according which it would be possible to regularly open deals quietly and work within the intra-session trend with confidence. In addition, one is interested in understanding of the correlation at least between the intra-session and weekly trends.
Our aim is to gain but not to lose. One must keep cool. It is of no use to spend your nerves and health. Even if the currency has moved in “the wrong direction” by 15 points, it will return in a moment. Anyway, the only direction where the currency can go is that towards which you have opened the deal. The problem is just of being too late for entering the deal. As regards the given situation, the recommendations are the following:
a). If there are no signs of reversal in the currency pair movement, you must open the deal once more after the recoil (rollback).
b). If there are signs of the reversal (the preceding movement was the false breakout), at first you should open one deal towards the opposite direction. You get into the lock, where the quantity of damages, being fixed (stipulated), does not increase (in Masterforex Training Academy one can get a special course of training to the technique of making the lock). Further, you add deals towards the direction of the currency pair movement in the given session. First of all, you compensate your damages and then you gain profit. Under the condition of false breakouts of the levels of resistance/support, the margin of the currency pair movement is always larger than in the case of the level true breakout. That is, the trader can gain higher profits.
What a trader who follows (sticks to) these rules must see:
a). faultless levels of resistance and support with respect to each of ally currency pairs. (very often they are not those mentioned in sites by “respectable” analysts (but not traders));
b). clear criteria of the true and false breakout of these levels and the intra-session trend beginning;
c). the synchronous (or non synchronous) character of the ally currency pair group movement;
d). the time, velocity and type (manner) of the currency pair movement;
e). the next level (the intermediate goal), to which the currency pair is tending;
f). the reserve (margin) of the currency pair movement for the trading session;
g). the point of the intra-session trend end (surely, one must know the clear criteria of the movement finish; when such signs appear, one must fix (register) one’s profits);
h). the point that confirms the beginning of the intra-session trend retracement; at this point one can also work with the correction against the trend at the super- short distances - in particular, you can make the lock narrower if you have got into this lock at the trading session beginning.
According to B. Williams, it is the fifth highest degree of the trader’s qualification. Reaching this stage, the trader is not nervous but he feels satisfaction at his work
The education at Masterforex-V Trading Academy’s closed forum is based on the study of these simple (and therefore reliable) principles and their practical verification (see http://forum.masterforex-v.su/).
The reasons why the majority of traders never reach this fifth highest degree of trading
The reason consists in the classical Forex dogmas, according to which the technical analysis starts at least from daily charts.
In his “The Technical Analysis as a New Science”, T. DeMark writes the following.
1. The daily information is the most accessible; for dozens of years analysts work mainly with daily charts.
2. Making use of daily charts, a trader must not continuously keep an eye on the market intra-day behavior. The trader runs less risks of being trapped because of price corrections. Not at all rare in the intra-day database, such corrections make the real pest of it.
3. There is the probability of making a deal at a price, closest to the value stipulated in the order. This probability increases if the trader uses the market signals, based on the intra-day information.
Here I would like to mention J. Swagger’s rule #44 from his book “The Technical Analysis. Complete Course”. The author claims that intra-day solutions are almost always wrong. He does not recommend to be engaged in the intra-day trade.
Below I submit other rules developed by this “classicist of the technical analysis”.
7. Looking at the chart, you should follow your instinctive impression - especially if you do not mind to what kind of the market this chart relates.
Comment. What about the discipline and following the strict rules?
8. The fact that you have missed a substantial part of the new trend must not keep you away from trading within this trend – as long as you can detect the reasonable point of the damage arrest.
Comments. How must one understand this statement? Seemingly, the author admits uselessness (non operability) of his TRADING SYSTEM.
a) How to detect the reversal point not only within the trading day but in longer trends as well?
b) What does the notion “the reasonable point of the damage arrest” implies?
c) What are the criteria of the trend change?
d) About what kind of trend does one talk - the long-term, intermediate-term or the short-term ones? (We have dwelt on the difference between such trends in the previous chapter).
e) Even a trader-beginner can give a dozen of examples of a situation like this. The stop-loss (“the reasonable point of the damage arrest”) was located at a peak of the short-term trend. Then the currency again rushed along the intermediate-term trend.
14. The newly-formed price models (or the market behavior) can tend towards the direction opposite to your position. In this case, you must immediately go out of any deal – even if stop points are not reached yet. You should ask yourself: “If I need a position at this market, what its direction must be?” If the answer does not coincide with the direction of the real position that you hold, you must close it. Actually, if values of the contrary indices are rather substantial, you reverse the position.
Comments. How to combine (reconcile) this thesis with the words “do not be engaged in the intra-day trading”?
21. Let us suppose that you cannot watch the market during a time interval (maybe you are traveling). Under these conditions, there are two outlets. First, you can liquidate all positions. Otherwise, you must make sure that active stop-orders are placed in all open positions.
No comments. If one can earn money not watching the market, what profits can gain those individuals who sit in front of their monitors during the trading?
31. Do not fix a small quick profit gained at the deals the direction of which coincides with that of the principal trends. In particular, if you are fully confident in the deal, you should not fix the profit in the first day.
Comment. How to detect the principal trend? Which trend is principal (even in the framework of the old classification (the long-term, intermediate-term and short-term trends))? And what is about the stop-loss? If the deal is open towards the “principal” trend direction, whereas the retracement (correction) starts developing in the opposite direction.
45. It is obligatory to check markets before the closing on Friday. Often the situation becomes clearer at the end of the week. The best price of entering the deal and going out of it is obtainable on Friday. At the stock exchange opening on the next Monday the price is worse. In particular, this rule is important when you hold a substantial position.
Comment. In fact, J. Swagger admits the existence of a weekly trend.
We now attract the reader’s attention to B. Babcock’s viewpoint ( see “How to trade trends”). This author states that for the successful trade your time scale for measuring the trend must be not shorter than 4 weeks. Therefore, you must enter the deal towards the price movement direction, which remains unaltered during 4 weeks and longer. There is a good example of the strategy based on trends. One must buy when the price of “close” is higher than 25 days before. One must sell when the price of “close” is lower than 25 days before. When you work in such a long trend, you really follow the market, not trying to predict it.
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (conclu
Can work be play? Scientists have discovered that joy on the job is our natural state.We are like monkeys because we are hardwired to interact, cooperate, and play. Employees at some savvy companies play miniature golf in the hallways. Managers and team leaders appoint Humor Teams and Play Squads.However, most of our organizations suffer from delight-deficiency syndrome. We think we must play OR work.Why does play at work produce hefty financial rewards? When we are relaxed, we produce better quality. We function at a higher mental level. Our physical output is elevated. Play activates an alpha or theta brain state that stimulates joy and creativity.Here's an example of how a repetitive or boring task can become joy on the job. David Smith and Mark McCahill are computer scientists who were well aware of how tiresome the task of composing spreadsheets can be. In the Croquet Project (www.opencroquet.org), Smith and McCahill and their colleagues created a virtual reality that merged play and joy with formulating spreadsheets. The scientists incorporated characters similar to video game icons into an open-source system with interactive three-dimensional virtual worlds.Please don't let this scientific language fool you. Human employees got to fulfill their need to be like primates at play... the staff clowned around while they shared resources. Employees manipulated their avatars to cooperatively edit text files and spreadsheets. The quality of their work was excellent.Play is its own reward. It's also contributes immensely to productivity.Can you have fun at work if you don't have two computer scientists to design an interactive system? Absolutely! When I interviewed entrepreneurs, employees, and managers in 21 diverse organizations, I discovered a multitude of no-cost and low-cost techniques that incorporate our need to act like monkeys... caring, sharing, and laughing.
What a trader who follows (sticks to) these rules must see:
a). faultless levels of resistance and support with respect to each of ally currency pairs. (very often they are not those mentioned in sites by “respectable” analysts (but not traders));
b). clear criteria of the true and false breakout of these levels and the intra-session trend beginning;
c). the synchronous (or non synchronous) character of the ally currency pair group movement;
d). the time, velocity and type (manner) of the currency pair movement;
e). the next level (the intermediate goal), to which the currency pair is tending;
f). the reserve (margin) of the currency pair movement for the trading session;
g). the point of the intra-session trend end (surely, one must know the clear criteria of the movement finish; when such signs appear, one must fix (register) one’s profits);
h). the point that confirms the beginning of the intra-session trend retracement; at this point one can also work with the correction against the trend at the super- short distances - in particular, you can make the lock narrower if you have got into this lock at the trading session beginning.
According to B. Williams, it is the fifth highest degree of the trader’s qualification. Reaching this stage, the trader is not nervous but he feels satisfaction at his work
The education at Masterforex-V Trading Academy’s closed forum is based on the study of these simple (and therefore reliable) principles and their practical verification (see http://forum.masterforex-v.su/).
The reasons why the majority of traders never reach this fifth highest degree of trading
The reason consists in the classical Forex dogmas, according to which the technical analysis starts at least from daily charts.
In his “The Technical Analysis as a New Science”, T. DeMark writes the following.
1. The daily information is the most accessible; for dozens of years analysts work mainly with daily charts.
2. Making use of daily charts, a trader must not continuously keep an eye on the market intra-day behavior. The trader runs less risks of being trapped because of price corrections. Not at all rare in the intra-day database, such corrections make the real pest of it.
3. There is the probability of making a deal at a price, closest to the value stipulated in the order. This probability increases if the trader uses the market signals, based on the intra-day information.
Here I would like to mention J. Swagger’s rule #44 from his book “The Technical Analysis. Complete Course”. The author claims that intra-day solutions are almost always wrong. He does not recommend to be engaged in the intra-day trade.
Below I submit other rules developed by this “classicist of the technical analysis”.
7. Looking at the chart, you should follow your instinctive impression - especially if you do not mind to what kind of the market this chart relates.
Comment. What about the discipline and following the strict rules?
8. The fact that you have missed a substantial part of the new trend must not keep you away from trading within this trend – as long as you can detect the reasonable point of the damage arrest.
Comments. How must one understand this statement? Seemingly, the author admits uselessness (non operability) of his TRADING SYSTEM.
a) How to detect the reversal point not only within the trading day but in longer trends as well?
b) What does the notion “the reasonable point of the damage arrest” implies?
c) What are the criteria of the trend change?
d) About what kind of trend does one talk - the long-term, intermediate-term or the short-term ones? (We have dwelt on the difference between such trends in the previous chapter).
e) Even a trader-beginner can give a dozen of examples of a situation like this. The stop-loss (“the reasonable point of the damage arrest”) was located at a peak of the short-term trend. Then the currency again rushed along the intermediate-term trend.
14. The newly-formed price models (or the market behavior) can tend towards the direction opposite to your position. In this case, you must immediately go out of any deal – even if stop points are not reached yet. You should ask yourself: “If I need a position at this market, what its direction must be?” If the answer does not coincide with the direction of the real position that you hold, you must close it. Actually, if values of the contrary indices are rather substantial, you reverse the position.
Comments. How to combine (reconcile) this thesis with the words “do not be engaged in the intra-day trading”?
21. Let us suppose that you cannot watch the market during a time interval (maybe you are traveling). Under these conditions, there are two outlets. First, you can liquidate all positions. Otherwise, you must make sure that active stop-orders are placed in all open positions.
No comments. If one can earn money not watching the market, what profits can gain those individuals who sit in front of their monitors during the trading?
31. Do not fix a small quick profit gained at the deals the direction of which coincides with that of the principal trends. In particular, if you are fully confident in the deal, you should not fix the profit in the first day.
Comment. How to detect the principal trend? Which trend is principal (even in the framework of the old classification (the long-term, intermediate-term and short-term trends))? And what is about the stop-loss? If the deal is open towards the “principal” trend direction, whereas the retracement (correction) starts developing in the opposite direction.
45. It is obligatory to check markets before the closing on Friday. Often the situation becomes clearer at the end of the week. The best price of entering the deal and going out of it is obtainable on Friday. At the stock exchange opening on the next Monday the price is worse. In particular, this rule is important when you hold a substantial position.
Comment. In fact, J. Swagger admits the existence of a weekly trend.
We now attract the reader’s attention to B. Babcock’s viewpoint ( see “How to trade trends”). This author states that for the successful trade your time scale for measuring the trend must be not shorter than 4 weeks. Therefore, you must enter the deal towards the price movement direction, which remains unaltered during 4 weeks and longer. There is a good example of the strategy based on trends. One must buy when the price of “close” is higher than 25 days before. One must sell when the price of “close” is lower than 25 days before. When you work in such a long trend, you really follow the market, not trying to predict it.
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (conclu
Many search engine optimization companies will sell you a search engine optimization package that addresses many of the major aspects of search engine optimization. These aspects include, but are not limited to, use of file names, alt tags, h1 tags, keyphrase density, meta tag optimization, link analysis and the like. These are all key aspects of a good search optimization.However, one problem is that the major search engines (especially Google) not only rank pages upon relevant content (which is determined by the factors listed above, and more), but by fresh content as well. What this means to you is that, even after your site has been "optimized to the max", your rankings will increase to a certain level and then not go much higher. To get to the top and stay there, your site should deliver fresh, relevant content on a regular basis. Depending upon the nature of your business, your competition, and targeted keyphrases, the rate at which you should add content to your site can vary from monthly to daily.The delivery of fresh content to your site, in a form that is readable by search engines (i.e. not through the use of javascript, iframes, or the like) requires a dynamic, database driven content management system.The most cost effective way to achieve this is through the use of a weblog that sits on your server and resides under your domain name. Updating the weblog with rich articles or commentary, broadcasting this information to the internet, and allowing users to post comments, achieves the following:1) Increases the number of inbound links to your website2) Increases the frequency at which major search engines will spider or crawl your site3) Increases interactivity for the web user4) Improves your search engine rankingFor further information, you may contact ArteWorks toll free at 877-336-8266, or visit ht
3. There is the probability of making a deal at a price, closest to the value stipulated in the order. This probability increases if the trader uses the market signals, based on the intra-day information.
Here I would like to mention J. Swagger’s rule #44 from his book “The Technical Analysis. Complete Course”. The author claims that intra-day solutions are almost always wrong. He does not recommend to be engaged in the intra-day trade.
Below I submit other rules developed by this “classicist of the technical analysis”.
7. Looking at the chart, you should follow your instinctive impression - especially if you do not mind to what kind of the market this chart relates.
Comment. What about the discipline and following the strict rules?
8. The fact that you have missed a substantial part of the new trend must not keep you away from trading within this trend – as long as you can detect the reasonable point of the damage arrest.
Comments. How must one understand this statement? Seemingly, the author admits uselessness (non operability) of his TRADING SYSTEM.
a) How to detect the reversal point not only within the trading day but in longer trends as well?
b) What does the notion “the reasonable point of the damage arrest” implies?
c) What are the criteria of the trend change?
d) About what kind of trend does one talk - the long-term, intermediate-term or the short-term ones? (We have dwelt on the difference between such trends in the previous chapter).
e) Even a trader-beginner can give a dozen of examples of a situation like this. The stop-loss (“the reasonable point of the damage arrest”) was located at a peak of the short-term trend. Then the currency again rushed along the intermediate-term trend.
14. The newly-formed price models (or the market behavior) can tend towards the direction opposite to your position. In this case, you must immediately go out of any deal – even if stop points are not reached yet. You should ask yourself: “If I need a position at this market, what its direction must be?” If the answer does not coincide with the direction of the real position that you hold, you must close it. Actually, if values of the contrary indices are rather substantial, you reverse the position.
Comments. How to combine (reconcile) this thesis with the words “do not be engaged in the intra-day trading”?
21. Let us suppose that you cannot watch the market during a time interval (maybe you are traveling). Under these conditions, there are two outlets. First, you can liquidate all positions. Otherwise, you must make sure that active stop-orders are placed in all open positions.
No comments. If one can earn money not watching the market, what profits can gain those individuals who sit in front of their monitors during the trading?
31. Do not fix a small quick profit gained at the deals the direction of which coincides with that of the principal trends. In particular, if you are fully confident in the deal, you should not fix the profit in the first day.
Comment. How to detect the principal trend? Which trend is principal (even in the framework of the old classification (the long-term, intermediate-term and short-term trends))? And what is about the stop-loss? If the deal is open towards the “principal” trend direction, whereas the retracement (correction) starts developing in the opposite direction.
45. It is obligatory to check markets before the closing on Friday. Often the situation becomes clearer at the end of the week. The best price of entering the deal and going out of it is obtainable on Friday. At the stock exchange opening on the next Monday the price is worse. In particular, this rule is important when you hold a substantial position.
Comment. In fact, J. Swagger admits the existence of a weekly trend.
We now attract the reader’s attention to B. Babcock’s viewpoint ( see “How to trade trends”). This author states that for the successful trade your time scale for measuring the trend must be not shorter than 4 weeks. Therefore, you must enter the deal towards the price movement direction, which remains unaltered during 4 weeks and longer. There is a good example of the strategy based on trends. One must buy when the price of “close” is higher than 25 days before. One must sell when the price of “close” is lower than 25 days before. When you work in such a long trend, you really follow the market, not trying to predict it.
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (conclu
There is an ongoing debate about the information highway and whether it should keep its current status or that the parallel to the normal highways should be made with a distinction between toll and toll-free roads.This is a heavy debate with a lot of different viewpoints or angles. An interesting question – the bases of this article - is how exactly does this parallel suit the discussion; where does it support the discussion and where not?There are some similarities.Both highways are infrastructure. Infrastructure is a abstract term that can contain many different elements. In the highway discussion you could say that the infrastructure -- the network, routers, cables, etc. -- supports the "movement." Without this structure there is now “way” that traffic gets transported. This is equally true for either version of information or physical transport.Another similarity is that this structure is often neglected and discriminated because it has no real function. We need water, food and fresh air but this is that basic that we do not seem to bother about it. We also need electricity and gas, and we assume that it will always be available. (Sun calls this the web-tone similar to the ring-tone) As a result of this, the importance of infrastructure is prone to be undervalued.Both highways also deal with traffic jams and congestions. For those who travel in Europe during the summer know that they can get stuck on the French toll-ways in the weekend. Despite the fact that you have paid, you can’t control the speed. Also the internet is now facing congestions because of the large amount of traffic. So here too, the introduction of a two lane (tier) approach like the toll-ways will not guarantee full availability either.High investments. Both infrastructures require high investments because infrastructure like roads or railways on one hand and broadband cable and fiber can not b
Comments. How to combine (reconcile) this thesis with the words “do not be engaged in the intra-day trading”?
21. Let us suppose that you cannot watch the market during a time interval (maybe you are traveling). Under these conditions, there are two outlets. First, you can liquidate all positions. Otherwise, you must make sure that active stop-orders are placed in all open positions.
No comments. If one can earn money not watching the market, what profits can gain those individuals who sit in front of their monitors during the trading?
31. Do not fix a small quick profit gained at the deals the direction of which coincides with that of the principal trends. In particular, if you are fully confident in the deal, you should not fix the profit in the first day.
Comment. How to detect the principal trend? Which trend is principal (even in the framework of the old classification (the long-term, intermediate-term and short-term trends))? And what is about the stop-loss? If the deal is open towards the “principal” trend direction, whereas the retracement (correction) starts developing in the opposite direction.
45. It is obligatory to check markets before the closing on Friday. Often the situation becomes clearer at the end of the week. The best price of entering the deal and going out of it is obtainable on Friday. At the stock exchange opening on the next Monday the price is worse. In particular, this rule is important when you hold a substantial position.
Comment. In fact, J. Swagger admits the existence of a weekly trend.
We now attract the reader’s attention to B. Babcock’s viewpoint ( see “How to trade trends”). This author states that for the successful trade your time scale for measuring the trend must be not shorter than 4 weeks. Therefore, you must enter the deal towards the price movement direction, which remains unaltered during 4 weeks and longer. There is a good example of the strategy based on trends. One must buy when the price of “close” is higher than 25 days before. One must sell when the price of “close” is lower than 25 days before. When you work in such a long trend, you really follow the market, not trying to predict it.
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (conclu
One of the disadvantages of traditional marketing is that it often lacks credibility. Why should someone believe you when they know you're trying to sell them something? However, there are free or inexpensive techniques for gaining business-building, positive exposure through a number of channels that may not be occurring to you or that you may not be taking full advantage of.1. Send out a press release to the media when your business opens, expands, diversifies, invents something or innovates a process, partners with another business or organization, hires, takes a position on an non-divisive issue, or sponsors an event or a worthy cause.2. Suggest feature articles and news story ideas to reporters and editors concerning your field or area of expertise. Offer to be interviewed or to provide quotes for an article.3. Make yourself available as a speaker at Chamber of Commerce meetings, professional associations, community groups, and seminars. Announce your speaking engagement to the press in the form of a news release, phone call, email, or post card.4. Write a 'Letter to the Editor', but avoid taking a controversial position on an issue which could cost you clients. You don't want to alienate people. Make it a practice to read the editorial pages to see what's being written about.5. Teach a class at the local community college or continuing adult education program. It's a great way to increase your credibility, visibility, and acquire new clients.6. Become a columnist. Speaking of credibility and visibility, if you can arrange with a print or online publication to run a regular column of yours, especially with a photograph and brief bio at the end, you'll gain a lot of valuable, free exposure.7. Word of mouth is the best kind of free and credible advertising. Keep focusing on providing exceptional service and going above and beyond what clients expect, and word of mo
Comments. Thus, it is recommended to wait during 25 days, and then put the order on the 26th day. However, towards what direction it must be done? You look at the daily charts. For the convenience of calculating various currency pairs, one candle corresponds to one day. You can estimate the logic of the well-known author’s reasoning by yourself.
Chart 12.1. USD/JPY pair movement during 4 hours. (For view picture see notes in end of article)
The descending trend came to an end exactly on the 26th day. After this the trend reversed and turned to the ascending one.
There is the analogous example. On January 3, 2006, the daily and weekly trends coincided at the American session. GBP passed more than 200 points during the session; EURO passed more than 160 points.
There arise the following questions.
3. Under the condition of the coincidence of the daily trend with the weekly one and the recoil from MF zone, is the movement regular? Naturally, it is! (The methods of determining the levels of the weekly trend beginning are explained in the educational course at Masterforex Trading Academy).
4. According to “classics” of Forex, a trader must do the following:
a). DeMark recommends to wait at least till the end of the day;
b). B. Babcock advises to start to count out 26 trading days in the current month;
c). J. Swagger recommends “not to be engaged in the intra-day trade”. If the total trend is descending, one must stake on “sell” with GBP and EURO against USD and install the stop-loss at a “reasonable point of the damage arrest”.
3. Now let us see what advices the analysts of “respectable” sites gave to traders that very day.
Forex Brokers Alpari made a review of the Asian session on January 3, 2006. Specialists of this center stated that the principal event of the day was to be the edition of the protocol of FOMC meeting dedicated to rates on December 13. Participants of the market were going carefully to study FOMC minute charts. The reason was the following. For the first time after a long period from the text of the final (concluding) instruction the Committee withdrew an important phrase about the stimulating character of the currency policy. In the past year the last trading day was finished with the positive sentiments towards USD. The latter still has chances to win back losses at the Asian session on Tuesday (December 13, 2005). See http://www.alpari-idc.ru/ru/analytics/review/3338.html
Comments. The analysts from Alpari, are they Guru? How can one know where and by how many points the currency will go in the forthcoming session? And what is more, the estimation is made issuing from the data that are to be expected on the basis of the fundamental analysis.
You can imagine how such analysts can confuse traders with the help of the fundamental analysis by suggesting who and where will “regain” the money in the next trading session.
You can also see www.forexite.com. Here about the same day it is written the following. Dealers note that, generally speaking, currency rates still have not left the ranges established recently. The pressure on USD rate is explicable by the following fact. Under the condition of low activity some investors start to close long positions in USD rate.
Expectation of an increase in the American stock indices gives a certain support to USD rate. The investors’ attention is concentrated on the issue of protocol of the last meeting of Open Market Committee of USA Federal redundant system (FRS).
Comments. How should a trader open the position? Should it be done at the beginning of the session trend? Or, maybe, it is better to do this after the issue of “FOMC meeting protocol”. That is, the position is to be opened after the careful study of this protocol by participants of the market.
As a trader to a trader, please, explain to me the following. Are such “analytical” reviews, edited on the eve of the trading, useful or harmful? If such reviews are detrimental to a trader, what for do Forex Brokers prepare them?
I’ll give no further comments upon such nonsense and dogmas written by “classics” of Forex and their followers – “analysts” from various Forex Brokers.
Better let us dwell on trading systems developed by up-to-date working traders at Forex. Their descriptions are available in Internet.
As a trader, I’m convinced that Trading System, developed by a real trader, can be much more useful to a trader-beginner in his learning how to really gain profit. Any Trading System must be profoundly comprehended by a student. Its application must be brought to perfection. The trader must work according to this system almost automatically. Under these conditions, the work with such Trading System will be much more useful than reading of dozens and hundreds of books written by the “classics” of Forex (not-traders). A thoughtless observance of advices given by such “respectable” analysts can be disastrous. Such analysts, writing nonsense one after another, serve for interests of various Forex Brokers but not for those of traders.
I’ll give no further comments upon such nonsense and dogmas written by “classics” of Forex and their followers – “analysts” from various Forex Brokers.
As a trader, I’m convinced that TRADING SYSTEM, developed by a real trader, can be much more useful to a trader-beginner in his learning how to really gain profit. Any TRADING SYSTEM must be profoundly comprehended by a student. Its application must be brought to perfection. The trader must work according to this system almost automatically. Under these conditions, the work with such TRADING SYSTEM will be much more useful than reading of dozens and hundreds of books written by the “classics” of Forex (not-traders). A thoughtless observance of advices given by such “respectable” analysts can be disastrous. Such analysts, writing nonsense one after another, serve for interests of various Forex Brokers but not for those of traders.
Note:
Full text of this article and pictures of examples http://www.masterforex-v.su/001_012.htm
If you wish to be trained on Trading System Masterforex-V - one of new and most effective techniques of trade on Forex in the world visit http://www.masterforex-v.su/
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