More Travel Tips:
My Forex CFDs day trading strategy simple and very effective
Hello guys and welcome!In this tutorial i will talk about the trading strategies i use and a little bit about mytrading group. But first of all i will start with the mostcommon mistake traders do as i see so many people doing it, and this is to overcomplicatetheir trading. Have a look at this chart. It has all kindsof indicator and lines added to it. And to many traders, especially beginners this lookslike exactly what they need because they think that all this tools would help themto predict the price movement the best possible way RIGHTéBut what will happen is exactly the opposite.
First of All, all this indicators are lagging they do not tell you what is happening at this moment of time and when they do it'stoo late because the price has already moved and many of them are not reliable thereare only couple of indicators that work well. But above all this chart is so complicatedand it's so confusing â€“ it just won't help you in any way. Your chart should look like this this is all you need. You don't need all this unnecessary stuff. And this is becausethe best tool is the price itself. You have to learn how to read the price and in my opinionthe best way is to learn the language of the Japanese candlesticks. They are amazing toolsthat have proved to be most accurate, at
least in my experience.I use some indicators too but only as confirmation to what the price chart is showing me andI never rely just on them. I trade in couple of waysMy favourite trading system is using the Japanese candlestick patterns and not just any candlestickpatterns I trade only the strongest once which are most reliable and are most likelyto move the price. These are the engulfing patterns. In combination to that i use Bollingerbands indicator to confirm the trade setups the candles form. Let me show an example.Right here, this trade setup formed on the EURUSD pair on daily chart on the 28th ofFebruary 2012 and it's the perfect bearish
engulfing pattern the prise went up, thenit formed couple of candlesticks roughly on the same level and after that it formed abig bearish candlestick which engulfs the little candles behind it. In addition to thatthe candles have broken above the upper Bollinger band which is confirmation to the pattern.This is the perfect sell signal and as you can see after it the prise went down for over300 pips which depending on how much you invest it can mean a lot of money.My second favourite way of trading is trading the Support and Resistance breakouts. Whatyou have to do here is to locate a valid support or resistance level and wait for it to bebroken. That's quite simple trading system
and to make it even more effective i use stochasticindicator to confirm the breakouts. I will show you one example:Right here, On the EURAUD pair on the 1 Hour chart we can see that a support line formedand it was broken on the 23th of June 2015 in 7 am. The price bounce from it 3 timesand then it broke it. Now I am going to add stochastic i use stochasticindicator to confirm the breakouts Basically to confirm a support breakout stochastichas to be below the 20 level when the candle that broke through the support line closesbelow it and the opposite to confirm a resistance breakout stochastic has to be above the 80level when the candle that have broken above
the resistance level closes above it.As you can see when the candlestick broke below the support line stochastic was belowthe 20 level and after that the prise went down for over 100 pips over 150 pips.If i go on the left here 2 weeks ago before the support breakout there was another reallygood example of bearish engulfing pattern which also took the price down for over 100pips. Now the 3rd trading system i use is calleddouble Bollinger band. It is combination of the Japanese candlesticks and 2 Bollingerband indicators. We use Bollinger band indicator and candlestick together again as in my firsttrading system but other than that this one,
Day Trading Money Management Position Sizing Stop Loss
All right. So, today we're going to betalking about the secret the secret of account protectionand growth. Now I'll warn you, a lot ofthese concepts are going to be new to many of you. They're going to be foreign, andyou might get your back up a little bit when you hear someof the things I'm going
to present to you today,but I encourage you to keep an open mind. Don't just dismiss them out ofhand because they may be contrary to things that you'vebeen told before. Remember that if what you'vebeen told about trading and money management so far weretrue, then you'd all likely be very successful tradersalready. All right, so let'sget started.
Have you ever wondered howWall Street tradesé Sure, there have been disastersin the financial markets in the past, but thosewere almost all related to bad mortgage practices,not trading. Fact of the matter is thattrading is huge revenue for banks and investment firms. It was reported that last year,top traders on Wall Street earned nearly $80billion in profits.
That's just off of thetrading floor. That's not other investments. That's not mortgages and allthese funds and such that they're running. This is money that they tookin off the trading floor. In fact, the Bank of Americarecorded at $5.6 billion in trading revenue. So how do they do ité
Do you think that theytrade like you doé Probably not. I know you're thinking that theyhave millions at their disposal, and it takesmoney to make money. And that's partly right, butthat's not the real answer for their success. Their success has more to dowith money management. It's how they manage theirfunds, rather than the amount
of their funds. The good news is that thisis something that you can do, as well. You can learn to manage yourfunds just like the most successful traderson Wall Street. These are not principlesthat are going to be unique to them. These are things thatyou can do.