Have you ever looked at all the Forex trading training information on the internet? It only takes a quick glance to recognize that 99% of all the Forex articles in the market are very general. They only attempt to coax the beginner into purchasing an item or investing in a new program. With these articles, the beginner starts out with nothing at all in terms of knowledge. Then they quickly move onto nothing at all in their bank account.
Beginning Forex traders want to know more than just the basic knowledge about Forex. They want simple & applicable Forex trading strategies that actually work. They don’t want to lose all their money while they practice these strategies and, once they test those strategies, they don’t want to be lied to and told they will never lose again! Let’s face it; the only way to obtain real quality information about Forex is to get out there and make mistakes but you want to take as much time as you can before you start making those mistakes. That way the mistakes will be lessened due to your experience.
Before you set out to make your mistakes, take the time to read as much as you can about Forex. Then take the time to practice. A beginner needs to read everything they can about Forex, talk to as many traders as they can about Forex, and practice different strategies that may or may not work. Then, after many months of testing the knowledge they have gained, they may finally be ready to actually begin trading on a real account. The more you rush things, the more trouble you are going to get yourself into.
It’s time to set aside the superficial, beginners talk and start getting serious about Forex! That is what the articles here are meant to help you do. They will give you strategies to test out while reminding you each step of the way that you can never be sure what is really going to happen in the Forex market. Many great philosophers have already known this for centuries but most Forex traders don’t. That is why we are going to be patient and do our best to remind you of the most important philosophy of all. In Forex trading, you need to be able to govern your emotions and stay in the present moment.
Ninety-nine percent of all Forex articles on the internet are superficial and useless. Now it’s time to move beyond the basics and into something more serious. These articles are provided for the trader who wants a little bit more. These are things you can learn to get yourself into the next level in Forex trading.
Once you have practiced these strategies, you may be ready to open a very small account with only. With that you can trade one mini lot and see how you do. Increase your account and you might be ready for more. Lose a certain amount and it’s time to stop. These are just some honest to goodness suggestions from traders who have already learned the dangers themselves and learned how to govern their own trading. Now let’s get started with some Forex Trading Training!
Article Source: http://www.articleclick.com/Article/Forex-Trading-Training/1588692
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world.
Watch his profitable forex trading strategy videos at:
http://www.ifxprofits.com
Instant Forex Profit Robot
Tuesday, November 22, 2011
Wednesday, November 16, 2011
Personal Character & Forex
Author: Kishore M
When it comes to personal character, trading Forex requires two main qualities. You have to be able to self-govern and you have to be able to keep going even after you experience loss. Many people are actually devastated by the Forex market. They start out too eager and they lose everything they have.
The CFTC has recently passed laws to restrict Forex in the US because they believe that all beginner Forex traders are unsophisticated. They know that they tend to lose large amounts of money early on in their careers. However, statistics also prove that you can be winner in Forex. You have to have the right experience and you have to know how to govern yourself.
During the month of January 2010, a list of brokers reported large percentages of traders were successful trading Forex. This wasn’t just a fluke in the typical trading reports. This was just an example of how many people are commonly winning in Forex. MBTrading reported that 47% of their traders made money that month and IBFX reported that 46% of their traders made money. FXDD reported that 45% of their traders made money and Forex.com reported that 43% made money.
In fact, in January 2010, EUR/USD was the most profitable currency pair for the month with 51% of traders making money on that currency pair. (currencee.com) You don’t have to be much better than average to make money in Forex. You just have to be able to control yourself and learn from your mistakes. Of course, the numbers are much worse for beginners because the mistakes they make tend to knock them out of the game early on. If they hang in there, those same mistakes tend to turn them into experienced traders.
Think about a professional athlete. Great football players don’t become great by sitting on the bench or hanging out in the locker room. They get out on the field and they learn to take their hits. They learn to govern their behavior and to “huddle up” after they have taken a hit. Forex is similar to a sport because you have to have two qualities to be a success. You have to be able to perform well and you have to be able to keep going, even after you have lost a big game.
Experience is the thing that Forex beginners need the most. Practice as many tested strategies as you can find and see if they actually work. Sometimes these strategies won’t work but other times they will. Through a series of practice and failure, a beginner will eventually learn when the best times to trade are and when are the best times to sit and wait. They will also learn what the best amounts for trading are on their account and how much to risk at any particular time.
Nobody can ever tell another trader what is best for them because everyone is different. You will learn how to trade Forex differently than others and things that may seem superficial and easy to one trader may be the most difficult and profound lessons for you. Here are some tried and true strategies that aren’t going to work every time. They will require practice to learn them and more practice to perfect them. Even after they have been perfected, there will still be times when they won’t work and this will be one of the most important things you will need to face in the Forex market as you learn to pick yourself up from the tough tackles and get back onto the field!
Article Source: http://www.articleclick.com/Article/Personal-Character-Forex/1590781
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
When it comes to personal character, trading Forex requires two main qualities. You have to be able to self-govern and you have to be able to keep going even after you experience loss. Many people are actually devastated by the Forex market. They start out too eager and they lose everything they have.
The CFTC has recently passed laws to restrict Forex in the US because they believe that all beginner Forex traders are unsophisticated. They know that they tend to lose large amounts of money early on in their careers. However, statistics also prove that you can be winner in Forex. You have to have the right experience and you have to know how to govern yourself.
During the month of January 2010, a list of brokers reported large percentages of traders were successful trading Forex. This wasn’t just a fluke in the typical trading reports. This was just an example of how many people are commonly winning in Forex. MBTrading reported that 47% of their traders made money that month and IBFX reported that 46% of their traders made money. FXDD reported that 45% of their traders made money and Forex.com reported that 43% made money.
In fact, in January 2010, EUR/USD was the most profitable currency pair for the month with 51% of traders making money on that currency pair. (currencee.com) You don’t have to be much better than average to make money in Forex. You just have to be able to control yourself and learn from your mistakes. Of course, the numbers are much worse for beginners because the mistakes they make tend to knock them out of the game early on. If they hang in there, those same mistakes tend to turn them into experienced traders.
Think about a professional athlete. Great football players don’t become great by sitting on the bench or hanging out in the locker room. They get out on the field and they learn to take their hits. They learn to govern their behavior and to “huddle up” after they have taken a hit. Forex is similar to a sport because you have to have two qualities to be a success. You have to be able to perform well and you have to be able to keep going, even after you have lost a big game.
Experience is the thing that Forex beginners need the most. Practice as many tested strategies as you can find and see if they actually work. Sometimes these strategies won’t work but other times they will. Through a series of practice and failure, a beginner will eventually learn when the best times to trade are and when are the best times to sit and wait. They will also learn what the best amounts for trading are on their account and how much to risk at any particular time.
Nobody can ever tell another trader what is best for them because everyone is different. You will learn how to trade Forex differently than others and things that may seem superficial and easy to one trader may be the most difficult and profound lessons for you. Here are some tried and true strategies that aren’t going to work every time. They will require practice to learn them and more practice to perfect them. Even after they have been perfected, there will still be times when they won’t work and this will be one of the most important things you will need to face in the Forex market as you learn to pick yourself up from the tough tackles and get back onto the field!
Article Source: http://www.articleclick.com/Article/Personal-Character-Forex/1590781
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
More Philosophy on the Forex Trading Course
Author: Kishore M
In the first article on Mr. Kishore M’s Forex trading course, we learned how too much knowledge can sometimes make you think your wiser than even the greatest philosopher Socrates. For those who like Mr. Kishore M’s strategy, they will remember how they were instructed to buy on the open of the third candle, after they have seen a price signal that reached the lower Bollinger Bank. To understand the exit things may start to get a little more difficult. Let’s take Socrates along with us again while we determine if Mr. Kishore M really has a good trading strategy here which he likes to call “Instant PIP Profit.”
On Mr. Kishore M’s strategy, we are told to exit when the price touches or “reaches” near the upper Bollinger. Again, we might be given the counsel of Socrates to remain open to the “vagueness” of the market. Socrates would have loved to expose how Mr. Kishore M’s first example shows a case of AUD/JPY which is at 93.25 when it hits its low. Then the third candle opens around 94.2 and shows exactly where you would enter. The exit is around 94.8 and gets you about 60 pips in 90 minutes but Socrates might step in and remind us that the price barely touched the upper Bollinger in Mr. Kishore M’s example!
Many traders would have missed the opportunity to take profit in this short 1-2 minute window that Mr. Kishore M. points out. This is because there is never a strategy that is completely clear and that works 100% of the time. Many traders would have found themselves waiting another 40 minutes or so to get a second chance at an exit on this trade. “Oh no!” they might say. “I missed my chance!” Their brows would start sweating and their heartbeats would speed up. “Where is Socrates or Mr. Kishore M. to help me!?” Luckily, traders would still get a second chance in Mr. Kishore M’s example.
40 minutes later, most traders would likely exit immediately when the price hit the upper Bollinger Band again. This would mean they made the profit in a little over 2 hours which would have been even better at 80 pips. “Phew!” they would say. “That was a close one!” The Forex trader would have finally become a little bit the wiser thanks to the counsel of Mr. Kishore M and the philosophical genius of Socrates and next time he might decide not to wait for the price to actually hit the upper Bollinger Band but exit as soon as it gets close.
The problem with exit strategies is you never know if you should exit right away or wait a little longer. If you exit early, you save yourself the stress of further risk. You might also get the frustration of seeing what “could have been” later on. If you wait too long, you may lose everything and want to kick yourself for what you missed. Try to play it cool and keep your emotions out of the picture. Wise men know that emotional trading is never going to get you where you want to go. Take it from Socrates that you never really know what is going to happen next in a Forex trading course and it’s especially good to be safe rather than sorry!
Article Source: http://www.articleclick.com/Article/More-Philosophy-on-the-Forex-Trading-Course/1598724
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
In the first article on Mr. Kishore M’s Forex trading course, we learned how too much knowledge can sometimes make you think your wiser than even the greatest philosopher Socrates. For those who like Mr. Kishore M’s strategy, they will remember how they were instructed to buy on the open of the third candle, after they have seen a price signal that reached the lower Bollinger Bank. To understand the exit things may start to get a little more difficult. Let’s take Socrates along with us again while we determine if Mr. Kishore M really has a good trading strategy here which he likes to call “Instant PIP Profit.”
On Mr. Kishore M’s strategy, we are told to exit when the price touches or “reaches” near the upper Bollinger. Again, we might be given the counsel of Socrates to remain open to the “vagueness” of the market. Socrates would have loved to expose how Mr. Kishore M’s first example shows a case of AUD/JPY which is at 93.25 when it hits its low. Then the third candle opens around 94.2 and shows exactly where you would enter. The exit is around 94.8 and gets you about 60 pips in 90 minutes but Socrates might step in and remind us that the price barely touched the upper Bollinger in Mr. Kishore M’s example!
Many traders would have missed the opportunity to take profit in this short 1-2 minute window that Mr. Kishore M. points out. This is because there is never a strategy that is completely clear and that works 100% of the time. Many traders would have found themselves waiting another 40 minutes or so to get a second chance at an exit on this trade. “Oh no!” they might say. “I missed my chance!” Their brows would start sweating and their heartbeats would speed up. “Where is Socrates or Mr. Kishore M. to help me!?” Luckily, traders would still get a second chance in Mr. Kishore M’s example.
40 minutes later, most traders would likely exit immediately when the price hit the upper Bollinger Band again. This would mean they made the profit in a little over 2 hours which would have been even better at 80 pips. “Phew!” they would say. “That was a close one!” The Forex trader would have finally become a little bit the wiser thanks to the counsel of Mr. Kishore M and the philosophical genius of Socrates and next time he might decide not to wait for the price to actually hit the upper Bollinger Band but exit as soon as it gets close.
The problem with exit strategies is you never know if you should exit right away or wait a little longer. If you exit early, you save yourself the stress of further risk. You might also get the frustration of seeing what “could have been” later on. If you wait too long, you may lose everything and want to kick yourself for what you missed. Try to play it cool and keep your emotions out of the picture. Wise men know that emotional trading is never going to get you where you want to go. Take it from Socrates that you never really know what is going to happen next in a Forex trading course and it’s especially good to be safe rather than sorry!
Article Source: http://www.articleclick.com/Article/More-Philosophy-on-the-Forex-Trading-Course/1598724
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
Saturday, November 12, 2011
Forex Made Easy With Simple EMA Crossover
Author: Kishore M
When Forex traders are trying to determine the general trend of a currency pair, a simple system using nothing but EMA’s as the indicators can be very useful. You can trade many pairs with this system but the GBP/USD or “cable” is especially good to trade with. It is also best to use a daily chart to determine the overall trend rather than looking at the hourly or lower.
An “EMA” refers to an exponential moving average and the price data is weighted so that the most recent price changes are given more significance. Traders like these indicators better than simple moving averages because they want to take advantage of the most recent trend and get out of the trade before it is too late. EMA’s allow you to do this and are a good way to avoid the losses that come when the market is only ranging on not trending.
This particular system uses the 5 period EMA and the 8 period EMA. You can change the settings on your platform so that you have these periods indicated with two different colors. On this chart: http://ifxprofits.com/article12.jpg , the 5 period EMA is shown in purple and the 8 period EMA is shown in orange. Instead of the daily chart, they are being used on an hourly chart but some traders like to combine the hourly and the daily trend to achieve something known as “Trend alignment.”
It is a personal preference when you decide how to determine a trend but, either way, the chart shows several examples of the kind of crossovers you will be looking for to determine the direction you want to trade. Four different crossovers on the hourly chart are shown by the arrows and you can always use these kind of crossovers to determine which direction you should enter the trade.
The numbers indicate the point at which the EMA’s crossed and this is also a strong indication that it is time to enter either in a long or a short direction. Number “1”and “3” indicate long entry points and numbers “2” and “4” indicate short entry points. Apply these periods to your EMA’s and you can be sure to get some good signals when the crossovers happen.
Of course, exit strategies are harder to determine until after you have seen the price action on the trade. The simplest method is to shoot for 60 pips of profit on a daily chart and 30 pips on an hourly chart. On the example hourly chart, each of the 4 trades could potentially take 30 pips and this is a good minimum to wait for if you use these indicators.
Of course, traders who have more patience and don’t mind a bit more risk can get in on the really big profits. Trade #1 had a potential of 170 pips! That’s not too bad for a first trade and you might have been better off to take your winnings and go out to celebrate! Good luck and happy trading.
Article Source: http://www.articleclick.com/Article/Forex-Made-Easy-With-Simple-EMA-Crossover/1533688
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
When Forex traders are trying to determine the general trend of a currency pair, a simple system using nothing but EMA’s as the indicators can be very useful. You can trade many pairs with this system but the GBP/USD or “cable” is especially good to trade with. It is also best to use a daily chart to determine the overall trend rather than looking at the hourly or lower.
An “EMA” refers to an exponential moving average and the price data is weighted so that the most recent price changes are given more significance. Traders like these indicators better than simple moving averages because they want to take advantage of the most recent trend and get out of the trade before it is too late. EMA’s allow you to do this and are a good way to avoid the losses that come when the market is only ranging on not trending.
This particular system uses the 5 period EMA and the 8 period EMA. You can change the settings on your platform so that you have these periods indicated with two different colors. On this chart: http://ifxprofits.com/article12.jpg , the 5 period EMA is shown in purple and the 8 period EMA is shown in orange. Instead of the daily chart, they are being used on an hourly chart but some traders like to combine the hourly and the daily trend to achieve something known as “Trend alignment.”
It is a personal preference when you decide how to determine a trend but, either way, the chart shows several examples of the kind of crossovers you will be looking for to determine the direction you want to trade. Four different crossovers on the hourly chart are shown by the arrows and you can always use these kind of crossovers to determine which direction you should enter the trade.
The numbers indicate the point at which the EMA’s crossed and this is also a strong indication that it is time to enter either in a long or a short direction. Number “1”and “3” indicate long entry points and numbers “2” and “4” indicate short entry points. Apply these periods to your EMA’s and you can be sure to get some good signals when the crossovers happen.
Of course, exit strategies are harder to determine until after you have seen the price action on the trade. The simplest method is to shoot for 60 pips of profit on a daily chart and 30 pips on an hourly chart. On the example hourly chart, each of the 4 trades could potentially take 30 pips and this is a good minimum to wait for if you use these indicators.
Of course, traders who have more patience and don’t mind a bit more risk can get in on the really big profits. Trade #1 had a potential of 170 pips! That’s not too bad for a first trade and you might have been better off to take your winnings and go out to celebrate! Good luck and happy trading.
Article Source: http://www.articleclick.com/Article/Forex-Made-Easy-With-Simple-EMA-Crossover/1533688
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
Forex Trading Strategies: Scalping with Alignment of Trend
Author: Kishore M
One of the most common Forex trading strategies is known as scalping. Not only is it a simple trading system, it carries low risk and can be performed in a very short amount of time. The problem is, the spreads you have to pay for will often eat a great deal of your profits and the reward/ risk ratio is usually too low.
Many traders don’t like the scalping system. This may be due to the fact that they haven’t combined it with some more advanced strategies. In combination with other strategies, scalping can be more profitable and less risky over the long term. Before we discuss the more advanced strategies known as “alignment” and the “martingale” strategies, it will help to take a closer look at scalping itself.
In scalping, it is usually best to trade currency pairs with high volatility and low spreads. These include pairs like EUR/JPY, GBP/USD, EUR/USD and USD/JPY. It is also best to stay focused on the lower timeframe charts like one hour or less. The best trading times for a scalper are usually during the intersection of the European/U.S. session and the U.S./ Asian session. Once you think you have "caught" the short-term trend, you can enter a position. Just make sure there aren’t any big news events coming up and you feel confident about your short-term trend.
This is where some advanced strategies can help you in scalping. The first advanced strategy for scalping will be discussed in this article. It has to do with alignment. A second strategy will be discussed in the next article entitled ‘Scalping With Martingale Insurance.’ It involves something else known as the Martingale strategy.
In this article we are looking to combine scalping with an alignment of two types of trend. As we all know in Forex trading, sometimes the short-term price trend is different from the long term trend. In this strategy, we make it clear that this is not a good time to be scalping. This is because the trends are not in alignment and, when the short-term trend suddenly decides to re-align itself with the long-term trend, you will start to get in big trouble.
Avoid trading against the long term trend and wait for the short term trend to show signs of agreement. You can use EMA’s on the daily and 1 hour charts to determine these trends or you can use your own strategy for determining trends. Whatever you do, wait until both the short-term and the long-term trends are in alignment. This provides you with a nice form of insurance as you begin your scalping. If you don’t see alignment of your trends, come back tomorrow and try again.
Remember, you are really only scalping so don’t get greedy when things go in your favor. Get out at a 10-20 pip profit and call it a successful trade! Combine this with another advanced strategy which is discussed in the next article ‘Scalping With Martingale Insurance.’ These are only one of the many Forex trading strategies that can really help you to make scalping a more profitable means trading.
Article Source: http://www.articleclick.com/Article/Forex-Trading-Strategies-Scalping-with-Alignment-of-Trend/1509896
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
One of the most common Forex trading strategies is known as scalping. Not only is it a simple trading system, it carries low risk and can be performed in a very short amount of time. The problem is, the spreads you have to pay for will often eat a great deal of your profits and the reward/ risk ratio is usually too low.
Many traders don’t like the scalping system. This may be due to the fact that they haven’t combined it with some more advanced strategies. In combination with other strategies, scalping can be more profitable and less risky over the long term. Before we discuss the more advanced strategies known as “alignment” and the “martingale” strategies, it will help to take a closer look at scalping itself.
In scalping, it is usually best to trade currency pairs with high volatility and low spreads. These include pairs like EUR/JPY, GBP/USD, EUR/USD and USD/JPY. It is also best to stay focused on the lower timeframe charts like one hour or less. The best trading times for a scalper are usually during the intersection of the European/U.S. session and the U.S./ Asian session. Once you think you have "caught" the short-term trend, you can enter a position. Just make sure there aren’t any big news events coming up and you feel confident about your short-term trend.
This is where some advanced strategies can help you in scalping. The first advanced strategy for scalping will be discussed in this article. It has to do with alignment. A second strategy will be discussed in the next article entitled ‘Scalping With Martingale Insurance.’ It involves something else known as the Martingale strategy.
In this article we are looking to combine scalping with an alignment of two types of trend. As we all know in Forex trading, sometimes the short-term price trend is different from the long term trend. In this strategy, we make it clear that this is not a good time to be scalping. This is because the trends are not in alignment and, when the short-term trend suddenly decides to re-align itself with the long-term trend, you will start to get in big trouble.
Avoid trading against the long term trend and wait for the short term trend to show signs of agreement. You can use EMA’s on the daily and 1 hour charts to determine these trends or you can use your own strategy for determining trends. Whatever you do, wait until both the short-term and the long-term trends are in alignment. This provides you with a nice form of insurance as you begin your scalping. If you don’t see alignment of your trends, come back tomorrow and try again.
Remember, you are really only scalping so don’t get greedy when things go in your favor. Get out at a 10-20 pip profit and call it a successful trade! Combine this with another advanced strategy which is discussed in the next article ‘Scalping With Martingale Insurance.’ These are only one of the many Forex trading strategies that can really help you to make scalping a more profitable means trading.
Article Source: http://www.articleclick.com/Article/Forex-Trading-Strategies-Scalping-with-Alignment-of-Trend/1509896
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
Take Socrates to Your Forex Trading Course
Author: Kishore M
Now that we have been introduced to the wisdom of the great philosopher Socrates, we are ready to take a closer look at the Forex trading course offered by Mr. Kishore M He has developed a strategy known as “Instant PIP Profit” and he prefers to use it on a 5 min and 15 min chart. He likes to trade crosses like EUR/JPY, AUD/JPY and EUR/ CHF. Are you starting to get excited? Let’s not get too carried away! Knowledge can be great but remembering the dangers involved will also be something we shall keep in mind as we progress.
To begin, Mr. Kishore M like to use Bollinger Bands to find a trend. He determines an upward trend when a price candle reaches something “close” to the lower Bollinger band and he shows an example on a five minute chart. When the price turns back up again on a second white candle, Mr. Kishore M counsels us that this is a buy signal. If the lowest candle actually hits the lower Bollinger Band, thiThis looks like a simple strategy with a lot of promise. Taking Socrates along for the ride, any trader might benefit from watching Mr. M’s video and considering a few pointers as they watch. Mr. Kishore M says, for example, that you can also use the RSI and CCI indicators when you determine your entry points on a trade. He says they should also “go up” when you are planning to enter a long position or “buy.” Still, he makes the point that this is only “optional”.
s is the best signal. You can also use the “close” strategy when you see a candle that almost hits. After it hits, the next candle should be white and, according to Mr. Kishore M, any white candle is acceptable.
Just as Socrates knew many years ago, the problem with complex strategies that employ many technical indicators is that you rarely get such a perfect signal. You also can’t be sure about anything in the absolute sense. This is likely the reason why Mr. Kishore M presents the RSI and CCI indicators as “optional.” As traders, we could wait over a month on a daily chart to see an entry point like this and we still wouldn’t be sure we had a perfect entry point. When it’s time to take a chance, Mr. Kishore M suggests we dive in and get some experience!
To be more cautious, Mr. Kishore M does insist that the Stochastic indicator should always be used in his trading strategy. This indicator line should appear at the bottom or near “20” and the Parabolic SAR should also be below the price. Mr. Kishore M indicates this in his first example when he points to the Stochastic and Parabolic SAR indicators. It all looks very clear like a strategy that would likely prove profitable in many cases. For those who aren’t familiar with Parabolic SAR, this just means that the dots are below the price on the chart. Wait for this to happen and Mr. Kishore M would counsel you that it is “ok” to enter.
Check out the next article when we take Socrates along for another journey and find out whether or not Mr. Kishore M’s exit strategy will really work for us. Remember, as you study this Forex trading course, that knowledge can sometimes be deceptive and make you think you know a lot more than you really do!
Article Source: http://www.articleclick.com/Article/Take-Socrates-to-Your-Forex-Trading-Course/1596339
About the Author:
Kishore M is an expert Forex Trader who was interviewed by Bloomberg & BBC. He has trained over 100,000 forex students around the world. Watch his profitable forex trading strategy videos at: http://www.ifxprofits.com
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