Your Questions About Scalping Forex

December 23, 2011 by Forex Guide  
Filed under Forex Account

Mark asks…

In forex trading, can you scalp trade all the time?

Forex Guide answers:

Yes you can. However in my opinion, this generates a lot of spread paid to the broker and may not be the most cost efficient. Besides, this boils down very often to mere gambling.

Please feel welcome to read more about forex at my forex learning blog.

Linda asks…

FOREX BROKER!!! all trader welcome?

im a looking for the cheapest forex broker and accept scalping
please give me the web site and details of the company

Forex Guide answers:

Www.oanda.com

George asks…

Forex.com Trading . Next 3 months .. All Day long, help:?

Basically I Just got out of the military & I am off until January when I start my new job & school.

We have money saved up for living & such. I have set aside about 800-1000 & opened an account with forex.com

Basically I hear all of these strategies about once a day trading or scalping, I am brand new to this.

Couple questions.

I have all day to trade, What can I do to maximize my profit, I can literally work any time of the day all day until Xmas.
I enjoy the idea & practice of scalping, Just not sure exactly what I am looking for to make split second decisions.

I read the strategies & such on here but is there an in-depth guide to actually explain everything?

& as mentioned, I use forex.com for trading.

Forex Guide answers:

One should really develop a winning strategy before trading with any real money. To do otherwise is simply gambling or speculating…that’s for Vegas.
One of the best resources available for beginners is without a doubt babypips ( google it)
Tons of free info.
Starting with 800-1,000 you probably be wise to trade a micro account to avoid margin calls.
I suggest using MetaTrader 4 with your broker and a practice account till you get a sense about not only how to trade but what to trade.
There’s lots to learn and having the time you have, you should be able to learn a lot quickly.
Good luck!

Paul asks…

Trading on Forex, I have 3 months … All Day! help?

Basically I Just got out of the military & I am off until January when I start my new job & school.

We have money saved up for living & such. I have set aside about 800-1000 & opened an account with forex.com

Basically I hear all of these strategies about once a day trading or scalping, I am brand new to this.

Couple questions.

I have all day to trade, What can I do to maximize my profit, I can literally work any time of the day all day until Xmas.
I enjoy the idea & practice of scalping, Just not sure exactly what I am looking for to make split second decisions.

I read the strategies & such on here but is there an in-depth guide to actually explain everything?

& as mentioned, I use forex.com for trading.

Forex Guide answers:

First of all have you practiced trading the forex market with “virtual ” money.
Many people when they enter the forex market only seeing how much they can make but not how much they can lose. I STRONGLY SUGGEST THAT FIRST YOU PRACTICE AND REALIZE HOW EASILY MONEY CAN COME & GO AND HOW QUICKLY YOU CAN PUT YOUR SELF IN DEBT. That realization must come first before you start with real money. Try Investopedia.com or maybe even forex.com has a demo mode,

When you start using real money it is always a junior mistake to say i need maximum profits. GREED IS NOT GOOD. Take what you can and get out. It has to be treated in baby steps.

My last point is “Money does not have a soul only humans do so you can love money but money can not love you back”

Betty asks…

Forex info & forecast! help!?

I started trading forecast about 2-3 weeks ago.

I have been doing good so far, I picked up on it naturally & have made about +300 pips.

I have been scalping/day trading for the most part, staring at the screen & making those decisions.

My question{s} is this:

I want to learn how to use all the tools/graphs, any recommended courses/sites/etc?

& I have picked up on playing off of forecast, what are some recommended forecast sites/people?

& What are the best sites/news for latest updates & forex news, etc.?

Thanks

Forex Guide answers:

Use Technical Analysis in your forex trading decision.

With candlestick charting techniques, early signal of trend reversal is clearly revealed which you will not find it in traditional bar charting techniques.

70 Japanese candlestick charting patterns are featured in this website that provides a better understanding of each individual candlestick patterns with detailed explanation.

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Ultimate Swing Trader One Day Swing Trades 500 Pips Guarantee!

December 6, 2010 by Forex Guide  
Filed under Forex Strategies

Get the Swing Trading Confidential Files from Mark Soberman FREE. Download the Seven Summits Trader Crystal Ball Software FREE. Masters these highly profitable Candlestick Patterns with this FREE 82 Page PDF Candlestick Guide. Mark Soberman: Hey, hope you’re having a great holiday weekend. I certainly am – feast, family, 6-hour marathon games of Monopoly… what more could you ask for? I wish I could stay in this state forever sometimes (aka: fat & lazy)! But the show must go on – and I’ve promised you one final release of the Ultimate Swing Trader before we end 2010 with a bang. Speaking of which, we’re just a couple days out until the doors are open for registation for my famous “10 minute swing trade strategy” and I hope you’re as excited about it as we all are. I mean, just take a look at what you’re going to get *if* you register with us this Monday:

Classic UST System that’s booked over 13,000 pips since last February (all totally documented for the eyes of our traders in the Owners Club. These are trades *actually taken* by our UST Lead Coach, Will Feibel. No random numbers, no curve-fit data – we use our own money so that when we win; you win.

Member’s Only Owners Club available only to our UST traders. Here you’ll find a treasure trove of information – advanced walk-throughs, tutorials, articles, video recaps and updates, webinars, not to mention access to our Nightly Update where Coach Will recaps the day’s trades so you know exactly what you’re doing every trade, every day.

**All-New** One Day Swing Trades that ‘does the work for you’! You get exact entries and exits with protective stops. All you have to do is set the trades in the evening, go to sleep and in the morning, check to see which trades triggered. Perfect for those wanting frequent trades but not the time commitment that goes with it.

**All-New** UST Auto Management Console that takes brand new technology and actually automates the UST strategy! Just take a couple minutes to set your trades using the Classic UST system, hit the sack and come back in the morning to see your wins. This console is even ‘intelligent’ enough to move your stops and exit at a specified percentage after you hit your first target as well as automatically trail to your second target and lock-in wins when your pip objective is hit.

It takes the best aspect of a Forex Robot (the convenience factor) and blends it with a traditional trading system to get the best of both worlds! ‘Fuggedaboutit’ simplicity with reliable results.

And how about that 500 pip Garantee? Because the UST is so consistently profitable, I’m willing to assure you that if you do not book at least 500 pips in your first month trading the UST system, you can send it back to me for a full refund. No joke, I do not want you keeping anything that’s not working for you so rest-assured that you’re taken care of with the Ultimate Swing Trader. I haven’t even gotten to Monday’s Fast Movers Bonuses (available only to those who register *on MONDAY*). If you’re interested, make sure you bookmark the link below and check back first thing, Monday morning:

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How To Make 7,913 Pips From Just One Market Move With A Simple Method That Takes Only 15 Minutes A Day

August 4, 2010 by Forex Guide  
Filed under Forex Strategies

Download this 1 Minute Forex Trading System FREE. Master these highly profitable Candlestick Patterns with this 82 page FREE Candlestick Guide. Watch these Freedom Forex Formula videos that show how to build a $34 million forex business from scatch and read the special manuscript FREE that explains the forex method in step by step detail.

If you are running after one forex robot after another. Stop doing that! Most of these forex robots are junks. Most of them will wipe out your trading account in just a few trades. What you need to do is to learn simple forex trading. Yes, that’s right. Simple Forex Trading!
Your success in forex trading lies in keeping your trading simple. The more complicated you are going to make your trading, the more confused and frustrated your will become. Learn simple forex trading concepts like what is support and resistance. What is a trend? How a trend develops in the market? How to swing trade a trend?

Support and resistance is one of the most basic concept that you need to understand real well. Support is the price level where the market is oversold. Resistance is that price level where the market gets overbought. So when the market gets oversold, traders and investors start buying thinking the price to be a good buy. This is in simple terms what a support is. You can think of a support as the floor of a room. You hit a ball on the floor, it will rebound and return to you.

Similarly, when the market gets overbought, traders and investor start selling considering the price to be too high. This is resistance in simple terms. You can think of resistance as the ceiling of a room. You throw a ball up towards the ceiling, it will hit it and come down to you. So, in essence, price action keeps on moving back and forth between the support and resistance unless a trend develops in the market.

Recently, James Lampert released his FREE Forex Training Videos that astonished the forex community with the simple methods that he used to build a $34 million forex business from scratch using those simple forex methods. In one video, he shows how made 7,913 pips from just one market move by spending not more than 15 minutes a day. Mind you, none of these forex methods involve using an expert advisor or what you call a forex robot or complicated indicators. In his complimentary forex training videos, James shows:

1. 5 very simple laws and concepts that govern the forex market and you should understand and master. These are real simple laws and concepts that you should always keep in your mind as a trader.
2. How to develop your forex trading system that incorporates these 5 simple laws and concepts.
3. How the noise in the market can fail your trading strategies and system and how you can easily deal with the market noise that most of the time keeps on tripping the stops of even the most experienced traders.
4. How the law of gravity operates in the forex market and how you can use gravity to make one winning trade after another completely beating the market.
5. What is the law of 100 and how it attracts the currency pairs towards itself. You need to understand this very simple law of 100.

Now, all these concepts and methods are explained in detail by James in his complimentary forex training videos. You should watch these forex training videos, they are full of premium content. James is about to show you how by keeping your trading simple, you can make one winning trade after another and you don’t need to spend more than 15 minutes each day watching the market.

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Candlestick Patterns That Reveal Trend Changes

March 10, 2010 by Forex Guide  
Filed under Forex for Beginners

Download this 1 Minute Forex Trading System FREE. Get these Forex Scalping Cheatsheets FREE. Download your FREE COPIES of the HVMM Ultimate Day Trading System plus the Risk & Money Management Tool just now! There are many candlestick patterns that are used by traders to identify trend changes in a security price. The most popular candlestick trend reversal pattern is the Hammer. First if you don’t know anything about candlesticks, a candle is formed with the high, low, opening and closing price of a security. Candlesticks have much in common with the bar charts but they have many things different too as well.

A Hammer represents the bottom of the trend. It occurs at the end of the downtrend. Hammers have small bodies and long shadows. Hammers have infact long lower shadow and a small upper shadow. What a hammer reveals is that after the price of the security opened on the market, sellers drove it down further.

By the end of the day, buyers have recouped much of their losses to end the day near or at the high. No Hammer is complete without confirmation. If the price action directly after the Hammer is down, no hammer has taken place. A true Hammer cannot have its low violated by subsequent price action. Volume should also be taken into account. If the volume is heavy, the Hammer formed is genuine.

Now a Hanging Man is identical to a hammer with the exception that it occurs at the uptrend. It crops up at the top of the price action on heavy volume and is confirmed by subsequent price action confirming the top. If the high of the Hanging Man is surpassed, then this signal is invalid.

Bullish and Bearish Engulfing Patterns are another candlestick trend reversal patterns. A Bullish Engulfing Pattern is formed when a candlestick bar opens lower than the previous candlestick’s close and closes higher than the previous candlestick’s open.

In simple terms, the candlestick body engulfs the previous candlestick’s body. Why is this pattern bullish? It represents a major defeat for the bears. Bullish Engulfing patterns are highly accurate but if the subsequent price trades below them than the pattern failed.

Similarly a Bearish Engulfing Patterns occurs at the end of an uptrend and marks important reversals. They are characterized by two bar formations. The first candlestick represents a small body. The second candlestick opens higher than the previous candlestick close and closes lower than the previous candlestick open, thus engulfing the previous candlestick body.

In the last decade use of candlestick patterns have become highly popular among the traders. These candlestick patterns are just a few of the many that can be used in confirming a change in the price action. Combining technical indicators with these candlestick patterns can be very powerful.

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