Forex Strategy
If I Only Trade 10 Pips A Day Can I Still Get Rich?
Foreign currency is has over $3 trillion dollars traded on it every day 24 hours a day 6 days a week. It is the most volatile market in the world and in some countries trading forex as a second income is tax free.
The forex markets shift 100′s of points every day. From fundamental and technical data displayed on charts it can be seen as moving in trends. When a currency pair starts to move in a trended direction it is good practice to take a slice out of the middle of a trend. It is this method that professional traders are using to make them rich.
171 Pips in 30 Days
It’s spring cleaning time and that goes for my Forex Trading Stats as well. Time to clean up my strategies and systems and focus on the year ahead. Now that the Vancouver 2010 Olympics are wrapped up it’s time to focus on putting my trading on steroids.
February was a slow month for me… I slept through some good trading opportunities, my computer crashed a few times, and my strategies needed some tweaking. No more excuses, time to kick-ass and get pipping!
Cool Forex Software – Forex Strategy Builder
Over the last couple weeks I’ve been inspired to write several ActFX Strategies and Indicators in my quest for “my” perfect trading strategy. I say “my” because every trading plan in my opinion should be customized for the trader by the trader.
There is a Forex Software Tool that you might be interested in. If you’re serious about your trading strategy and are somewhat technically inclined. It’s called Forex Strategy Builder.
It looks like a great tool and I was impressed by the features and options it comes with. Will keep you posted on my progress with it!
ActForex S3 Moving Average Cross Over Alert Strategy
In January of 2010 I started writing trading strategies for the ActFx trading platform. Typically trading strategies are used to automate trading, I took a different approach… You see I am a big believer of the human touch. In my 30+ years dealing with computers (I started very young), I’ve come to realize that “Technology is Great, when it works” and that technology is simply a tool that works best when technology and human intuition are married. Voila… and my first trading strategy was born that simply alerts traders of potential trading opportunities, using two Exponential Moving Averages on the 1 hour chart, across 13 currencies! No trades are placed.
Alert on Activity Strategy for ActForex
If you’re using ActForex as your trading platform then you should have a look at this trading strategy.
I created this script to alert me with a sound whenever there is some activity on the 5 minute chart. It uses the ROC indicator and plays a sound whenever the ROC is above .4 or below .4. Great for catching sudden activity of 30+ pip movements without having to be glued to the screen.
Moving Average Cross Over Alert Strategy
If you’re using the ActFx Platform then you might want to check out this strategy that I’ve created.
The ActFx platform allows you to run strategies, that basically based on some conditions carry out trades for you automatically. Instead of placing a trade, this Moving Average Cross Over Strategy simply displays an alert and logs the cross over.
I created this strategy so I could get alerts when the 13 & 21 MA on the 1 hour chart cross over and then can make a trading decision based on my analysis. You can change the MA’s and time frame.
Happy New Year – May the Pip be With You!
2009 has been an interesting year to say the least. The world economy has impacted pretty much everyone on this planet. With crisis there always comes opportunity. The Japanese and Chinese actually use the same symbol for crisis as they do for opportunity.
With the economic turmoil, the Currency Market has been very interesting to trade. Some currencies have been extremely volatile and it seems every US News Report impacts the currency exchange market. Both good things for the Forex Trader. Pips to be made.
Forex Robots – Why publish posts here when I’m against them?
I don’t believe a Forex Robot will make you rich. I don’t think Forex Robots work. At least they have not worked for me and I assure you, they haven’t made me rich either.
Why publish posts about Forex Robots then? Simple. I’m providing information about Forex. There are many tools, strategies, and systems out there. There are also many robots, signals, and alerts out there. Some work, some don’t.
It doesn’t matter what anyone else thinks or has experienced. You need to find a trading plan, system, and strategy that works for you! And when you do, keep using it and don’t listen to anyone else that doubts it.
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