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Saturday, August 31, 2013

Pro Tips And Tricks For Forex Trading

The notion that Forex trading is confusing is a common misconception. This is true for people who do not research about Forex beforehand. This article will give you some basic information about forex trading.
Study the market and make your own conclusions. You will only become financially successful in Forex when you learn how to do this.
Your success with Forex will probably not be carved with some unusual, untested method or formula. Forex trading is a well trodden path, with plenty of experts who have been studying it for many decades. The odds of you blundering into an untried but successful strategy are vanishingly small. Continue to study proven methods and stay with what works.
Before buying, be sure your Forex software can be customized. You need to have the ability to vary your system in order to better fit your strategy. Before buying any software, ask whether it can be customized.
It’s normal to become emotional when you first get started with Forex and become nearly obsessive. In general, people tend to lose focus after a period of time, so if you find yourself not dedicating yourself completely towards the trade it’s probably a good time to step away for a bit. The market is not going anywhere, so take breaks to clear your head and refocus.

Always form a plan when trading in the foreign exchange market. Short cuts may make some money in the short term, but over time they will end up causing problems. Real success comes from building a strategic plan and the following it through.
The most important factor to consider when making trades is risk management. There’s such a thing as an unacceptable loss and an acceptable loss. Make sure you learn the difference. Never change a stop-loss once you have set it. Loss prevention also prevents having your account wiped. You should understand when things are not going your way and find a way out. This could save you a lot in the long run.
Trading decisions should never be emotional decisions. If you allow them to control you, your emotions can lead you to make poor decisions. Emotions are a part of any trade, but do not allow them to be your main motivator.
Emotional moves, such as changing your stop-loss points, is a risky move that often results in greater losses. Stick to your plan and you will be more successful.

Newcomers to the world of forex trading should resist the temptation to make trades in a wide variety of markets. Trade in the major currencies only. Prevent complications that can arise from trading in too many market segments. As a result you can become reckless, which would not be a very good investment strategy.
It isn’t advisable to depend entirely on the software or to let it control your whole account. The consequences can be extremely negative.
The forex market does not have a central location, instead, it exists wherever one currency is exchanged for another. Nothing can ever devastate the forex market. If a huge natural disaster occurs in Europe, that doesn’t mean you need to panic and starting dropping all of your Yen currency. A natural disaster could influence the currency market, but there is no guarantee that it will affect the currency pairs you are trading.
As was stated in the beginning of the article, trading with Forex is only confusing for those who do not do their research before beginning the trading process. If you take the advice given to you in the above article, you will begin the process of becoming educated in Forex trading.

Thursday, August 29, 2013

USD/JPY TECHNICAL ARTICLE ON AUGUST 29





USD/JPY is one of the high volatile currency pair in forex. It is proved by the daily fluctuations that occurs in this pair. The “buy” market has been showing for the two days and the USD has gained 120+ pips. 

In this scenario, the market is sailing towards the overbought condition. The overbought will be achieved in the resistance of 99.036 and until then, the market belongs to the USD trend.

The further contribution will be provided by the upcoming news releases to the favor of the USD. Not only with JPY, the USD has gained with most of the pairs, especially with AUD, GBP and NZD. 

A good trend can be expected at the time of news releases and somehow, the traders are possible to gain around 50+ pips. The fundamental and technical indicators are merging with the trend, so there will be a great hope to attain 50+ pips.

Tuesday, August 27, 2013

EUR/CAD TECHNICAL ARTICLE ON AUGUST 27




EUR/CAD is one of the significant pairs in the forex market. From the opening of this week, it has shown the downtrend, especially after achieving its two year high of 1.41249. 

So, it is very easy for the traders to predict the trend. On today, the market has opened at the point 1.40477 and noted by its uptrend to gain around 40 pips. 

All of a sudden, the trend reversal has occurred due to the news intervention and gained more than 50 pips. The trend will stick with this short to gain more sum of pips. 

We can predict this trend as a long term trend by the bounce back occurred on the great resistance of 1.41249. The sudden reversal continues the same trend to be gradual and will find a great support in the near future. 

Moreover, the EMA gives more support to this trend and a possibility to grab 30+ pips for today alone.

Monday, August 26, 2013

Forex Quotes for the Day


NZD/USD TECHNICAL ANALYSIS ON AUGUST 26




The trend of NZD/USD has put an end to its consecutive sell and began its long on this week open in 0.77984. This trend reversal has done in the belief of the great resistance. 

For the last week, the USD has gained a bunch of 400 pips against the NZD and it is considerable for this pair. By this substantial gain of USD has led the short to be oversold. So, it is obviously giving favor to the uptrend and leads the market towards the resistance. 

The short term and long term moving average is predicting the tremendous uptrend to achieve a gain of about  70+ pips. Even though, the trend has been showing its uptrend from the beginning of today, it is clearly predicted as  long in the point of 0.78371. 

Once it crosses the initial resistance, it will be trending towards the top to find its great resistance. If the indicators are right, it could be assured of getting the 70+ pips. Perhaps, the trend will continue this long, it is highly possible to compensate the last week short.

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Friday, August 23, 2013

GBP/USD TECHNICAL ARTICLE ON AUG 23


The gradual gain of GBP has occurred since July 10 for the GBP/USD. This tremendous trend is noted its gain of 800+ pips and it proved the insecurity for USD as well. 

Besides, there are several news releases have given favor to the GBP. But, remember GBP/USD is the significant pair and obviously it is shown the monthly zigzag movement. 

By the way, if the point 1.48126 is considered as a great support then we can surely predict the resistance as 1.57154. And it has attained its great resistance on August 21. The big picture pattern is clearly notified the trend to the trader. If, the indicator is right, it is being to start its downtrend. 

Today, the price is focusing to reach its greater resistance once again. The traders can strongly believe on this resistance and will anticipate the short to accomplish the near support of 1.55024.