Long term forex system
Establishing a Forex trading system is crucial forex you want to make steady profit in the market. Thanks to the volatility of the market, every trader generates profit differently. The good news is that for the most part, all of them make use of the same basics when generating their Forex trading system:. Most traders lean on technical analysis when it comes to system formulation. As the name suggests, it takes into account different technical tools supported by statistics, numbers, trends, charts, graphs, and various other quantitative data. For example, traders may find that during certain times of the year, a particular currency enjoys a steady rise before dropping back again at the start of a specific month. Technical analysis also includes the term and comparison of GDP, price indexdemand and supply, and even the political situation of a country to fully comprehend how the currency will fare for the next trading session or overtime. As opposed to technical, fundamental analysis takes into account other factors that are equally logical. For the most part however, fundamentals focus on supply and demand as the primary driving factors of the Forex market. This system also puts weight on a sentiment-driven market. Now the question is: The best Forex trading system however,would be a combination of technical and fundamental analysis with more forex given to system former. Although Fundamental Analysis has been proven to work, the statistics offered by Technical tends to produce better and more accurate results overtime. The good news is that in some instances, these two analysis options overlap, which should make your trading process easier. According to many fundamental analysts, fundamental analysis is a time-consuming process. To keep up with the fast-paced demands of the foreign exchange market in the modern world, the traditional method seemed like it needed to go. However, since its usefulness remains, tech-savvy fundamental analysts determined a way to improve the elaborate analysis approach; they designed fundamental analysis software. Fundamental analysis refers to the state of the forex market with regard to the overall economic conditions; it gives light to factors such as economic production, interest rates, employment, and GDP or Gross Domestic Product. Its findings are based on data that comes from historical and present-day reports. As the process revolves around the evaluation of market performance, it adheres to the primary goal of yielding informative predictions. An advantage of the employment of fundamental analysis software is that it addresses the fact that the forex market can be an extremely volatile market; it comes with a myriad of useful features to give light to market volatility. With its design, accomplishing basic and advanced fundamental analysis procedures is possible. An important component of fundamental analysis software is its feature of a forex calendar. It can provide necessary details regarding events, time, previous, expected, and actual currency values, as well as influenced currencies. It enables a trader to perform analysis according to a selected time zone; particularly, it privileges a trader to peek at a list of upcoming economic events, which ultimately rewards him with the opportunity of strategizing prior to his entry in the forex market. When it comes to forex trading, specialization and not diversification is the key to success. While it may seem that by focusing on a single pair you are putting all your eggs in one basket, in fact, you are actually increasing your chances of success. Successfully trading currencies term a lot of analysis of the market, and it is easier to do that by completely familiarizing yourself with a single pair so that you can more readily identify trading opportunities. What are the benefits of focusing on a single pair? You can more readily study the economies those currencies come from so that you can better understand the fundamental factors that affect their values. It is also important to understand that just because a currency pair shares a currency with another pair does not mean that they will behave in the same way. Other characteristics of currency pairs that you need to keep in mind is that they term differently at different times of the trading day and their values move at different speeds. In addition, by studying a single pair, you will be able to observe how its values change over time. This can give you greater insight into how it will react in the present under particular political and economic developments. This may allow you to identify trading opportunities that other traders with less knowledge and experience may not see. Of course, there are traders who would argue the opposite position, that by focusing on a single pair they are actually limiting their profit opportunities. But if you are just starting out as a forex trader and still learning the basics, you are better off focusing on a single pair rather than trying to study several pairs at once. Here are some suggestions. Choose a major pair that is traded a lot. The main advantage of trading one of these pairs is that they enjoy a lot of liquidity and have a lot of volatility. This means that they generate strong trading signals that you can easily detect to open a trade. Since you will essentially have to study the economies of two countries when you focus on a pair, you can make your job easier since you already understand how the economy of your own country works. You also have a greater understanding of the factors that affect the values of your own currency. A way of achieving this is to take into account the amount of monetary supplies that are about to go into circulation. To have a clue as to why rates are too high or too low, and why they can sometimes rise and drop unexpectedly, grasping the concept behind the theory is a technique. The Monetary Model is just like many economic indicators ; although it provides valuable information, it presents conflicting aspects. For instance, it goes against a statement of another economic indicator, the Asset Market Model; while the Monetary Model revolves around the reports on current trading accounts, the Asset Market Model gives importance to capital trading accounts. Particularly, the Monetary Model is based on 2 things: According to different economic theorists, the Monetary Model comes with a downside; it has certain restrictions that may not make it suitable for just any market condition. One restriction, in particular, is that it lacks consideration for incoming trade flows. In a way, the Monetary Model vouches for the immediate depreciation of a currency due to a potential raise in inflation rates. While this supposition is true, a reverse situation is also true; this negates the whole arrangement, and gives the economic indicator a questionable credibility. Due to such a limitation, the Monetary Model can put a trader at risk. He may have a report of monetary supplies, but not system a generic perspective; it means that, although he can analyze market and economic conditionsthere may be integral components that he remains uninformed of. Overall, yes, the Monetary Model is a good indicator; it is reliable and can yield profitable results. It can trigger inaccurate predictions due to incorrect employment, but just like most technical analysis tools, its effectiveness can be fine-tuned with brilliant trading strategies and flawless money management skills. Below is a guest post from Mr. Zahir from MTrading India. Basically, you can trade in the forex market via 3 ways: For one, the underlying asset that futures and forwards trading are based on the spot market assets. The futures market used to be the most popular market in the past simply because of the fact that it had been made available to individual traders for a long time — before individual investors gained access to the spot market. However, forex the advent of electronic or online trading, the spot market experienced a sudden surge in popularity, particularly with speculators and individual investors. In no time, it surpassed the other markets in terms of size and popularity. Simply put, this is the market where you can buy and sell currencies based on the prevailing rates, which are dictated by supply and demand. Positions are closed with cash settlements. While the transactions are generally considered as current or in the present time, the actual settlements can take up to two days. The futures long forwards markets, unlike the spot market where actual currencies are traded, involve forex between two parties representing claims to a specific currency. The currency is stated at a given unit price that is to be settled at a future agreed date. Forwards contracts are sold and bought over the counter, with the terms determined by the contracting parties. On the other hand, a futures contract is sold and bought based on standard sizes and settlement dates. Transactions are regulated by the National Futures Association. Futures market contracts contain specific details such as the number of traded units, settlement and delivery dates, and the fixed minimum price increments. Both forwards and futures contracts are binding and closed with cash settlements upon maturity, although a contract may be sold or bought before its expiry date. Both types of contract can provide some form of risk protection in currency trading. In many cases, the futures and forwards markets are used by large international companies as a hedge against fluctuations in future currency exchange rates. There are cases, however, when speculators trade in these markets too. Author long the article is Mr. Here you have an interesting infographic supplied by IFC Markets. It shows you a brief history and some facts about four of the most popular currencies traded. Some interesting stuff in here. Infographic by IFC Markets. I have some new ideas with regards to either modifying one of my current Forex Trading EAs Expert Advisor or Trading Robotor completely building a new one from scratch. It all depends on what my Programmer thinks and and how much work is involved. Sometimes it is just easier to start from scratch. This first video just covers the basics. It is far from perfect and requires a lot more testing. I am putting these ideas out to my forex trading contacts so I can get some feedback etc. Just another set of eyes to pick my ideas apart. If anyone wants to get involved, feel free to email me at accurateforextrader gmail. As you can see from the title, this is video no. I may do further videos to explain certain points, but this one should give you a pretty good idea on what I am thinking about. Basically looking to reduce risk quickly, take re-entries if they present and manage open trades. Still a fair bit of work to be done, but I do have to start somewhere. I just put a basic video on YouTube showing a simple way I trade the 1hr charts. Basically I use a couple of my favourite custom MT4 indicators, the MACD Platinum and QQE Adv in conjunction with a Linear Weighted Moving Average. I will only take trades based on the trend of the Daily chart. This will ensure that a forex of false moves are avoided. Not perfect but a good simple sustem that will be profitable over the long run. Plenty of options available, so pick what best suits your own style. Again, nothing to sell forex and these EAs will be freely available to anyone that asks. You can read the full article here. Anyway, this article got me thinking about a post I replied to in one of my threads on the Forex Factory Forum, where I spoke about something very similar. I basically use any trading forum to bounce ideas around as I know there are traders out there that are way smarter than me that may offer me some constructive feedback etc, which i do appreciate. I also like to use them to help other traders out when I can by offering free access to any of my custom indicators, EAs or trading ideas. But here is a copy of the post I mentioned above that refers to some of my thoughts on Forex Trading and that of semi-automation. But I will explain some of my thoughts when it comes system forex trading. Anyone that has seen any of my threads in this forum will know that I tend to look for slightly obscure ways to trade. All good in theory but not suited to everyone. The reason we trade forex is to make money. The reason we want to make money is to improve our lifestyle. I also trade forex to give me time, hence my love of robots. Going around in circles here it appears. Most of you know I basically use the system two custom MT4 indicators for most of my trading, that being the MACD Platinum and the QQE Adv. Throw in a LMA and I have more than enough to trade. I keep it pretty simple, normally trading off a small time frame in the same direction as a larger time frame. I will take multiple trades, stacking these trades and then using a spreadsheet that I have already shared here, work out an overall position and then manage those term as a whole. I use the robots for entry only. Small monthly expense but certainly worth it. I also use a trade copier so all the charts are only set up on the one platform, so it saves some hassle setting them all up. Money management is also controlled by the trade copier, whic is handy if you want to close all trades out when your account reaches a certain balance, so it can start all over again. I also have a desktop up that runs a mirror demo account with all my charts and my spreadsheets. I do trade multiple pairs on multiple timeframes so have a lot happening at once. I tend to trade the more volatile pairs also. Again refer to the picture I posted earlier in this thread. The trading works on the EA opening the required trades on the parameters I have set. So I have no say in this and just let the EAs do their thing. All my accounts are set up for hedging, so no problems being long and short at the same time on the same pair, which does help with margin issues. Not too bad if you were short though. So a few times during the day I will check the trades and make any necessary adjustments. This may include closing out any baskets of trades that I think are getting out of hand or turning ugly, or it may involve removing an EA and setting hard stops to lock in profit etc. Normally takes me about 15 mins, so I can then go and do things I enjoy. I tend to keep my position size very small but keep in mind I do use an EA that does increase position size on each new trade opened based on the initial position size. Something I do have to keep an eye on. Having said that, I have another EA that does trade a tad more traditionally, and I even keep that pretty small. It is strictly a numbers game for me, looking to win way more than I lose. Just like any trading I guess. This style of trading does take a little bit getting use to as the majority of the time, your account will be in drawdown which would make some traders very nervous. Something I am trying to teach my son at the moment as he always questions why his account is constantly in the negative, even though his account balance is slowly increasing. This style of trading is not for everyone. Might be time to do what every one else is not doing. If anyone would like to discuss this further or would like access to any of my EAs or MT4 custom indicators, feel free to contact me and I will have no problems sharing them with you at no cost. Cheers and good luck with your own trading. Just a couple of things. You may have noticed a sign up form to the right where I am requesting your email address. This will not be a sales list where I will be bombarding you with weekly emails trying to sell you something. More of a list where I will contact you every now and then with anything I think would be worthwhile, whether it be one of my free EAs or any of my custom MT4 indicators. Eventually I will be hoping to offer a signals type service or even manage private investors money using my own EAs and manual trading methods. I maybe looking for Beta Testers or looking for assistance, so people on my list would be contacted to seek your help. Nil obligation though as it is entirely your choice. Also to the right, you will see another MyFXBook link to a small live account I have set up with XM. This is just a nano type account where my smallest position size at 0. With a leverage of I have already received an angry email from XM demanding I remove one of my EAs as it was causing their servers to overload. Just not sure how sch a small account like mine could cause so much drama. Did what they asked and have had to change the way I trade using this same EA. Basically got rid of the trailling stop method. But I urge you to keep an eye on this account as I am very confident that it will produce pretty good results once I work out term comfortable position size for the trading. This guy and his team have been around for a while now and their service is pretty comprehensive with some good reviews. It may be something you are interested in. If so, just click on the banner below and that will take you to his page where everything is explained in detail. You may have noticed that my live Forex Trading account has taken a bit of a hit, as has my demo account. I was experimenting with multiple EAs on the one pair on two different time frames. I found I lost a little control of the whole situation due to me being in a very remote location with limited internet access. I closed all of my live trades last night and this may prove to have been a little premature, hence I want to keep the demo account trades open and running their natural course. Demo accounts have their advantages but there is nothing like trading live. Now these losing trades also give me an idea of where I am going wrong and what I can do different next time. Looking forward to getting my hands on it and recovering some of these losses. Happy New Year to all of my fellow Forex Traders out there no matter where you are in the world. I hope you all enjoyed term festive season and managed to catch up with family etc. I have been a bit slack with regards to updating this site and the main reason being that I took up a new job in Papua New Guinea back in early Oct Well that was up until late December. Now we have much better internet on the island, I am now able to commit more time to this site and my trading activities. I have been putting a lot of time into testing my EAs as this does not require the internet, just my trusty laptop. I have been concentrating on my SMSF EA as of late as I have recently had it modified to include a couple of filters. But I am getting some great results with a lot of pairs on the 4hr charts and some excellent results on most of the pairs using the daily charts. There can be a fair time gap between trades on the daily charts, but trading many pairs reduces this problem somewhat. At the end of the day our main aim is to make money with as little risk as possible, not necessarily have a fun time doing it. Sometimes boring is better! Hopefully it will become a little more consistent now that I have sort of settled on a few set ups and I am now using forex conservative money management set up with it also. Now in my previous post I discussed a purely mechanical SAR method of trading. So you are basically closing out a trade in one direction and then opening a new trade in the opposite direction, therefore you are always in the market. I system have an EA I designed and had built that is called my SAR EA. This was designed for trading forex, but I have run a few successful tests on Gold and Oil via the MT4 platform also. Here you can download everything and also check out other videos. Go to the Forex Factory thread. That was a a few years back as part of a trading team that concentrated on three currency pairs only, and only traded the 1hr charts. It was hard work due to the constant checking of charts. Sleep was rare until the weekly long was achieved. I have done up a couple of videos to explain it all a little better, which can be seen below. Also better if you watch these in HD. Nothing too professional here as my video skills are limited…. With the previous demo account results I had running from MyFXbook, the results stopped updating last week and my investor password went missing so I decided just to close that account and start afresh. It was only a demo account, so nothing lost. This account is called SMSF and you can see the results in the right hand sidebar in place of the old demo account. This has had some pretty good results in back testing to date, so I have just lowered my base lot size initially just to see how it performs under forward testing. I will hopefully add further pairs once I have completed some further back testing, keeping in mind all currency pairs have different ranges and ways of moving in their trends. And as usual, if anyone wants some further info on any term my EAs or trading ideas, feel free to contact me at anytime. Well I have now set up a live account on MyFXbook that will monitor one of my accounts with Alpari UK. I will be using one of my EAs for entries and then I will manually manage the trades as I see fit. These will initially be on the 4hr charts so it gives me plenty of time to make sensible trading decisions. If all goes well, and if anyone is interested, I am more than happy to share my set up with you, including free access to my custom MT4 indicators and my own EAs. If you look to the right hand sidebar, the top MyFXbook widget now refers to this live account. It has been a long time where I have just about seen everything. One thing I have experienced is Live Trading Rooms. It is on my 2nd monitor with the moderator yapping away in the background. Not really interested in joining their program but there are times I like to see long other traders are doing and how they are looking at the markets. One other reason is that sometimes trading can be a very lonely lifestyle, especially if you are a sole trader just trading from home. Therefore forums and trading rooms can sometimes get you involved in a like minded group. There are thousands of retail traders around the world, and with the internet these days, the world is a small place. Now to the Live Trading Rooms. Other than the trading banter and the feeling of being involved in the market, are they a good thing? One thing about them is that forex mainly involve short term trading, usually taking trades off charts 1hr and below. So basically they are either scalping or taking smallish swing trades that are session based. So if you entered a room at the start of the London session, then you would normally trade this entire session and possibly into the US session, and about 10hrs later you may call it quits. You would probably finish up with long open trades. In the process you may have taken trades during this period. Does happen, but not that often. The problem with trading in live rooms is that it requires plenty of chart watching and plenty of concentration. Trust me, I know this as I have done it plenty of times in the past. It is hard work, especially at home when there are plenty of other distractions like TV, kids, housework and your significant other wanting to spend quality time with you. It would be much easier if you actually left the house and went to an office to join the trading room, or even went and physically sat in a trading room. More like a real 8hr a day job. Another problem for me is my time zone, as being in Australia the London session starts around 6pm local. Great time with regards to sleep etc as normally I could trade until 2am quite easily and then call it a day. Even worse if you have a normal job during the day and then want to trade during the evening. This is mentally and physically draining and not healthy for you. Gone are the days I had a bed in my home office. I would strongly suggest that you ditch the live trading rooms. I would say the same about forums. They are also a little dishonest for my liking due to the anonymity of the internet. What I have found that works for me and gives me a much more balanced lifestyle, is trading off the 4hr charts. I have a fairly simple system that uses my own EAs for entry on multiple pairs. As these are on the 4hr charts, it gives me plenty of time to monitor the charts at my leisure, where I can then manually manage the trades as I see fit. This can all be done around a normal job and your normal sleep patterns. And the beauty of modern technology is that I can do this from any of my mobile devices whether it be my laptop, iPhone or iPad. I am a MT4 trader and have live accounts with different brokers on the go at any one time. System app if you are a MT4 trader. Ever since I have gone out to the longer time frames, my trading has become way more relaxed with minimal stress. Obviously your position sizes maybe smaller, but having said that, your stops maybe further out but so are your profit targets. It is all relevant and works out in the wash. Sure it is not as exciting as trading off the 5 min charts as there may be days without any trades, so it can be like watching paint dry at times. If you are interested system learning more about my trading style, you can either ask me directly via my email at accurateforextrader gmail. These are free just for being a reader. So, what sort of forex trader are you? Below you will find a video of my SAR EA Expert Advisor in action long the 1hr chart. It just gives an overview of how it performs. I have had a couple of slightly different EAs built which are based on the same two custom MT4 indicators. They are not perfect. Best if you change the video settings to watch it in HD. Just click on the little cog symbol at bottom right of video. You are probably wondering why I am even building this website. Fair question I say. There is no real need for me to tell the world about my forex trading or experiences in this field. I could quite simply just keep on trading my own accounts, slowly but surely building my account size without any other distractions. But I am a sucker for punishment and like to keep my brain active. Completing this website not only helps up and coming forex traders gain extra knowledge, it also helps keep me accountable. I wish I had started this thing several years ago as it might have saved me some money and accounts. There is no doubt term, forex trading can be an emotional roller coaster. Things sometimes go well and other times not so well. By me posting my methods and also my trading results, it ensures that I put an effort into my trading and take it a little more seriously. There may not be anyone reading this website or there maybe thousands I wish reading it. All I know is that somebody out there in this great big world will read about it one day, so that is enough to keep me motivated and hopefully profitable. Education is also important to me. I started looking at forex back in Things were a lot different then and most of my education came from trolling trading forums to see what I could pick up along the way. So from what I have learnt and published over the years, I figure that I can help guide the new traders through this minefield without all the hassles and just make their trading adventure a little easier. First I have prove myself with real money in real trading accounts. Tools like MyFXbook help achieve these outcomes. I do enjoy helping others, so that is probably the main reason behind it all. The other stuff will take of itself as long as I do the right thing by others…. Sometime ago I wrote a number of Ezine articles about forex trading. These pretty well cover the basics of trading in a very simple way so even the absolute beginner could understand and have enough confidence to at least start demo trading. There may be a few minor tweaks as obviously I have learnt a few things since and probably have changed my way of thinking on a few of the topics. I have a strong interest in developing my own forex trading systems, where I then convert these systems into EAs. She runs a company called Wise-EA, and if you need any programming done in this space, I highly recommend her. Maybe I should learn programming myself and save a few bucks. Looks too confusing to me, but you never know, maybe one day. EA is short for Expert Advisor, which is just a flash name for a trading robot software that is attached to your trading platform that takes trades on your behalf depending on what your stipulated trading rules are. But do not think that EAs are the be all and end all. I tend to use them for entry only and then manually manage the trades from there. Forex trading is not easy, but system you can be consistently profitable with it, the rewards can be long, whether this means lots of money, getting out of your current job, working your desired hours, more family time, working from anywhere you wish etc etc. I love this stuff, so there will be plenty more to follow, including all of my Ezine articles…. Welcome back to Accurate Forex Trader! So now I have to start from scratch, so this site will be a work in progress. This site will be dedicated to my Forex Trading, but if you want to know a bit more about me and my thoughts, you can go over to JAGfx. To get the ball rolling, I have had a new EA built called SMSF which I am currently forwarding testing on a demo account. This demo account does have a link to MyFXbook which you can see below. I am also testing it in a small way on a live account. Something I have put here is to advise everyone that Forex Trading is risky. You could lose some or all of your money if you trade forex. I think that is pretty obvious to most, so this warning is just aimed at the minority. The trick is to win more than you lose overall. Everything I write here is just my opinion or what I am doing in my trading. I cannot give you specific trading advice. So be warned, this trading can be a risky business, so protect your capital so you live to trade another day. We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. Your privacy is safe with me. If you feel you have gained something from visiting this site and would like to contribute, feel free to donate via PayPal with whatever amount you wish. Half will go to a charity of my choice and the other half will help with EA development. This site rocks the Classic Responsive Skin for Thesis. Finding the Most Profitable Forex Trading System. The good news is that for the most part, all of them make use of the same basics when generating their Forex trading system: Technical Analysis Most traders lean on technical analysis when it comes to system formulation. Fundamental Analysis As opposed to technical, fundamental analysis takes into account other factors that are equally logical. Long Term and Short Term Now the question is: Fundamental Analysis Fundamental analysis refers to the state of the forex market with regard to the overall economic conditions; it gives light to factors such as economic production, interest rates, employment, and GDP or Gross Domestic Product. Typical Features of Fundamental Analysis Software An advantage of the employment of fundamental analysis software is that it addresses the fact that the forex market can be an extremely volatile market; it comes with a myriad of useful features to give light to market volatility. Automatic order execution — also called OCO or One Cancels Other or OCA or One Cancels All ; it allows the placement of 2 orders i. Why You Should Focus on One Currency Pair. Focus on One Currency Pair guest article When it comes to forex trading, specialization and not diversification is the key to success. The Monetary Model as an Economic Indicator. In such a case, the particular economic indicator to turn to is the Monetary Model. What Is the Monetary Model? Theory Basis The Monetary Model is just like many economic indicators ; although it provides valuable information, it presents conflicting aspects. The Arguments According to different economic theorists, the Monetary Model comes with a downside; it has certain restrictions that may not make it suitable for just any market condition. So, Is the Monetary Model a Good Indicator? Spot, Futures, and Forwards. The Spot Market Simply put, this is the market where you can buy and sell currencies based on the prevailing rates, which are dictated by supply and demand. The Forwards Market and the Futures Market The futures and forwards markets, unlike the spot market where actual currencies are traded, involve contracts between two parties representing claims to a specific currency. The Most Traded Currencies. Great Infographic for Forex Traders Here you have an interesting infographic supplied by IFC Markets. An Idea for a New Forex Trading Expert Advisor on MT4 — Video 1. Forex Trading — 1hr with the Daily Trend. But here is a copy of the post I mentioned above that refers to some of my thoughts on Forex Trading and that of semi-automation; How goes it? Happy New Year Forex Traders! SAR EA — Something a Long Different. Check out the videos below to give you an idea of how the EA works. New SAR Trading System. Nothing too professional here as my video skills are limited… This 2nd video just shows an example of how the system would handle a sideways market. New Demo Account Results. The pressure is on as I can already feel the eyes watching me…. What Sort of Forex Trader Are You? What am I Aiming to Achieve Here? Ezine Articles about Forex Trading. Archived Posts January December October June December November October September June April February January September August July
Below you will find nearly 200 essays from people about the songs and music that inspires them, along with the survey and writing contest summary report from the StageofLife.com blogging contest in which we asked people to share a story about a song that was incredibly inspiring to them at an important point in their life.
May I just say what a relief to locate somebody that truly understands what they are referring to over the internet.
The right temporal lobe of the hollow sphere of his cranium came into contact with a solid timber angle where, an infinitesimal but sensible fraction of a second later, a painful sensation was located in consequence of antecedent sensations transmitted and registered.
Other caharacters are faceless: motorbike guy, the guy that asked for dinner.