Currently I am doing a study on Forex Trends. Trends and behavioral patterns of the market not in relation to economical or other news. I started this study because one such trend has stood out to me and I have begun to watch it for a history of doing the same thing.
Could you imagine ones success trading in Forex if there was a predictable known pattern that would most likely always play out. I so far have found one such trend and I am now in a information gather and analyzing stage. I just need more data to confirm what it appears is true.
One technical tip that I read said to pick a currency pair and become an expert on that pair. Don’t worry about the many others just be the expert on one. So this is what I have done for the past year now and I see why being so focused on one pair is important. Has anyone else ever found or are you aware of repeating trends in Forex markets? I would love to hear more about it. I will update as to the findings of my experiment as they become available.
Well after a week of using the Express FX software through fxclub.com I have had some success and some failure. This software is much easier to trade in than the Rumus 2 software but the Rumus is still important to use in analysis. I say that although this last week I used only the Express FX.
The one place I seemed to always go wrong was when the trend would change. I would make $500 to $1000, and then lose it incrementally in $300 amounts. I always use stop loss orders at $300 sometimes as high as $500. Over the last week my balance has soared up, only to come back to where I started, not once but three times.
The most helpful and interesting thing I found to watch in the Express FX was to set lines and watch how it reacted to support and resistance levels. Now I just need to watch closer for trend changes and be ready to act accordingly. As I said before stick to one currency and become a pro with it, I have been using the AUD/USD for all trading. More to come later…
To try to keep info on home business opportunities fresh and new I constantly look for new things to try and I have come to couple conclusions. I am either too damn smart, or the opportunities are just that lame and transparent. I am a very skeptical person, and this may cause problems too, but some of the things out there are so unbelievable I can’t even get myself to try just for the sake of research to put on this site due to the fact you can see it’s a scam or a joke from a mile away.
Im using this time currently to get back into trading on the Forex market. Fxclub.com came out with a new software trading platform called ExpressFX that I find easier to use and have had more success with. I still use the Rumus software for more in depth technical analysis but do all trading in the Express software. I am using my free practice account and having a good time, up a little over $1,200 yesterday alone. I will post a link to Fxclub.com at the bottom of this post if anyone wants to try it out too. Just remember to start with a practice account and that even though potential is there for big gains, the same risk for loss is present also.
WWW.FXCLUB.COM
It has been a while since I have talked about the Forex market. I have been a little to busy to keep up with the technical analysis but I have taken a new long position recently. I see the rising price of crude oil weakening the dollar more.
The Euro has been on a retreat from record highs but the drawback seems to be nearing an end. Its looking like the combination of rising crude oil prices and weak financial numbers on Wall Street have made an opportunity to buy the Euro. This is based only off of economic data and no chart analysis. I will update later.
It’s been a few days since I have done an update on the Euro/USD and my Forex trading. The Euro has been a good currency for investing this month, as I have now had well over 50 trades for a positive gain of 241 pips. In the latter part of this month the Euro has seen a slow down and some strong selling driving its price back down some.After hitting an all time high on the 16th of 1.5904 it began a retreat back down 1.5342 only to start back up to what looked like a retest of the 1.5904. It didn’t quite make it and for the moment stopped out at 1.5844. It now looks to be in a period of consolidation and taking any positions on this pair at the moment is not for me.
There are many other pairs that can be traded fortunately so there is usually always trades that can be made. I try to stay with one currency and focus my technical analysis on it. If you haven’t tried Forex yet, make sure and get your free practice account to see if you can make it in the world of currency trading. It cost nothing and is much like a one of those virtual stock market challenges but the Forex market is much more exciting as it is open 24 hours a day 5 days a week. Get your free practice account with the banner above.
So anyway, today the feds announced a .75 rate cute to try to save what’s left of our economy. This briefly sent the EUR/USD on a plunge as Wall Street gained over 400 points. After falling all the way back down to 1.5612 it looks as if the Euro is trying to make some recovery. Its only been a couple days ago the Euro was pushing record territory up to 1.5900 and then some. I am looking for a retest of the 1.5900 in the coming days as the rate cut news fades away.
Recent Comments