Recognition and Pivot Point Analysis
This Forex Video trading course shows how to combine chart pattern recognition with Pivot Point analysis to produce
extremely profitable results. Here is an overview:
I personally like to focus on a small number of the more consistent, reliable and re-occurring formations. The ones
I am particularly interested in are the powerful reversal formations at tops and bottoms of price ranges.
When chart pattern recognition skills are applied with the use of the Pivots Program, benefits accrue. The targeted support and
resistance numbers are like an early warning system. Being aware of an important price target level, accompanied by a pattern, you
can then anticipate your move.
Specifically, the pivot point calculations give an early warning signal, and chart formations confirm potential
buying or selling opportunities. Formations like triangles and wedges are instrumental in helping you take action.
Having access to support and resistance numbers, plus combining the bullish or bearish patterns, facilitates identifying
bankable trades.
For example, even if you were not convinced that a downtrend would hold, then at least the "breakout" from a symmetrical triangle
pattern in a downtrend would have enabled you to capture a portion of the ensuing decline.
Bullish and bearish pattern recognition helps you get in at bottom and top price reversals.
Armed with these indications, combined with pivot points, this will provide a wealth of signals in order to develop a proper
game plan. At the very least, it will keep you from buying the high or selling the low.
Ready to trade like the big dogs Click Here
Saturday, November 22, 2008
Highly Effective Forex Trading System
A brief preview of an Extremely Effective and Simple
Forex Trading System
The full video course describes the system in detail.
WHAT YOU NEED TO GET STARTED
1. A computer, Internet connection,
2. A system to trade with such as my Pivot trading system.
3. A funded account at a forex market maker broker
You only need a few tools to locate profitable set-ups:
- Price
- Price Bars,
- MACD Divergence
- Pivot Point
- Breakout/test/violations
- Trendline breakout
That and of course your passion to succeed
is all it takes in this wonderful business
of Forex trading.
No other bells and whistles or toys are
required - contrary to what you may have
learned before.
The hardest part for you will be to
"unlearn" all the nonsense you've been
fed about trading prior to coming here.
(Just give your head a good shake;
maybe it will go away).
CHARTS
I use mainly daily, hourly, 15 minute,
and five minute charts. The daily chart
will help you define the overall trend
from a position trading point-of-view,
and the hourly chart will give you a
feel for the intraday trend.
The 15 minute chart is used for entry
and exit - with assistance from the five
minute chart, where price is moving
quickly, and you need to be closer to
the action. Please note that the five
minute is not to be used for scalping,
as there is a lot of noise there,
and you could easily get whipsawed.
Make sure you are using charts that
are generated from the same data source
that feeds the dealing engine, as is
the case with both platforms mentioned
above. That way, what you see is what
you get when you buy or sell. Some
charting packages do not accurately
reflect where price is at any given
moment in time.
PIVOT POINTS
My trading system is based on pivots.
Pivot points are targets, or mile markers,
used for assessing price movement and
determining direction.
If you're unfamiliar with pivot points
and how I use them, below is an overview.
Used by professional floor traders, pivot
trading is one of the oldest and most amazing
technical trading methods available.
Professional traders calculate pivot points
in preparation for each trading sessions.
The pivot lines system is an indispensable
guide for making profitable decisions.
For an active trader, the pivots can mean the
difference between winning and losing.
The Pivot techniques work well in markets with
a wide daily trading range, such as the Forex.
Pivot lines steers traders away from "no man's
land" and identifies "high activity" areas in
which the equity has a high probability of
reversal. These areas are important trading zone
watched daily by floor traders and computer
trading systems.
The levels for the trading ranges and pivots
are the support and resistance levels of the
market in the next time interval.
It is important to note that the predicted
levels only give the range in the next time
interval. They do not indicate when the levels
will be reached by the currency price action.
The pivot is a level at which the underlying
asset can be expected to change direction
and/or move rapidly away from.
My pivots program provides not only Pivot,
R1, R2, S1, and S2, but also the M1, M2, M3,
and M4 points as well. It is common to find
many traders calculating only the Pivot, R1,
R2, S1, and S2 levels. In the Forex market,
however, you will find my additional points
of support and resistance to be very significant
indeed.
The Forexmentor video course shows you how
to calculate the Pivot points using our
proprietary Pivot Calculator.
After you have calculated the pivot numbers
for the day, place horizontal lines on
your 15 minute and 1 hour charts at the
pivot numbers for the day, or at least as
many lines as your chart has room for.
These pivot points will guide your trading
throughout the day.
INDICATORS
I really only espouse one - MACD
(for divergence only).
MACD Divergence is covered extensively
in my course and my trading examples
MACD is my favorite indicator, and that
would be my choice. The nine and 18
exponential moving averages are okay
too to give you some sense of price
direction, but I am not a believer in
using moving averages for this market
- so am not too thrilled about their
application and use.
Go ahead and plot MACD on the charts
you are working with.
For Complete Mentorship
Forex Trading System
The full video course describes the system in detail.
WHAT YOU NEED TO GET STARTED
1. A computer, Internet connection,
2. A system to trade with such as my Pivot trading system.
3. A funded account at a forex market maker broker
You only need a few tools to locate profitable set-ups:
- Price
- Price Bars,
- MACD Divergence
- Pivot Point
- Breakout/test/violations
- Trendline breakout
That and of course your passion to succeed
is all it takes in this wonderful business
of Forex trading.
No other bells and whistles or toys are
required - contrary to what you may have
learned before.
The hardest part for you will be to
"unlearn" all the nonsense you've been
fed about trading prior to coming here.
(Just give your head a good shake;
maybe it will go away).
CHARTS
I use mainly daily, hourly, 15 minute,
and five minute charts. The daily chart
will help you define the overall trend
from a position trading point-of-view,
and the hourly chart will give you a
feel for the intraday trend.
The 15 minute chart is used for entry
and exit - with assistance from the five
minute chart, where price is moving
quickly, and you need to be closer to
the action. Please note that the five
minute is not to be used for scalping,
as there is a lot of noise there,
and you could easily get whipsawed.
Make sure you are using charts that
are generated from the same data source
that feeds the dealing engine, as is
the case with both platforms mentioned
above. That way, what you see is what
you get when you buy or sell. Some
charting packages do not accurately
reflect where price is at any given
moment in time.
PIVOT POINTS
My trading system is based on pivots.
Pivot points are targets, or mile markers,
used for assessing price movement and
determining direction.
If you're unfamiliar with pivot points
and how I use them, below is an overview.
Used by professional floor traders, pivot
trading is one of the oldest and most amazing
technical trading methods available.
Professional traders calculate pivot points
in preparation for each trading sessions.
The pivot lines system is an indispensable
guide for making profitable decisions.
For an active trader, the pivots can mean the
difference between winning and losing.
The Pivot techniques work well in markets with
a wide daily trading range, such as the Forex.
Pivot lines steers traders away from "no man's
land" and identifies "high activity" areas in
which the equity has a high probability of
reversal. These areas are important trading zone
watched daily by floor traders and computer
trading systems.
The levels for the trading ranges and pivots
are the support and resistance levels of the
market in the next time interval.
It is important to note that the predicted
levels only give the range in the next time
interval. They do not indicate when the levels
will be reached by the currency price action.
The pivot is a level at which the underlying
asset can be expected to change direction
and/or move rapidly away from.
My pivots program provides not only Pivot,
R1, R2, S1, and S2, but also the M1, M2, M3,
and M4 points as well. It is common to find
many traders calculating only the Pivot, R1,
R2, S1, and S2 levels. In the Forex market,
however, you will find my additional points
of support and resistance to be very significant
indeed.
The Forexmentor video course shows you how
to calculate the Pivot points using our
proprietary Pivot Calculator.
After you have calculated the pivot numbers
for the day, place horizontal lines on
your 15 minute and 1 hour charts at the
pivot numbers for the day, or at least as
many lines as your chart has room for.
These pivot points will guide your trading
throughout the day.
INDICATORS
I really only espouse one - MACD
(for divergence only).
MACD Divergence is covered extensively
in my course and my trading examples
MACD is my favorite indicator, and that
would be my choice. The nine and 18
exponential moving averages are okay
too to give you some sense of price
direction, but I am not a believer in
using moving averages for this market
- so am not too thrilled about their
application and use.
Go ahead and plot MACD on the charts
you are working with.
For Complete Mentorship
The currency (foreign exchange) market is the largest and oldest financial market in the world
The currency (foreign exchange) market
is the largest and oldest financial market
in the world. It is also called the foreign
exchange market, or "FOREX" or "FX" market
for short.
It is the biggest and most liquid market
in the world, and it is traded 24 hours-a-day .
The forex market is a cash (or "spot")
inter-bank market. By comparison, the
currency futures market is only one per
cent as big.
Foreign Exchange simply means the buying
of one currency and selling another at the
same time. That's it!
In other words, the currency of one country
is exchanged for those of another. The
currencies of the world are on a floating
exchange rate, and are always traded in
pairs - Euro/US Dollar, US Dollar/Yen, etc.
In excess of 85 percent of all daily
transactions involve trading of the major
currencies:
- US Dollar,
- Euro
- Australian Dollar,
- British Pound,
- Canadian Dollar
- Japanese Yen,
- Swiss Franc
Unlike the futures and stock markets,
trading of currencies is not centralized
on an exchange.
Forex literally follows the sun around
the world. Trading moves from major banking
centres of the U.S. to Australia and
New Zealand, to the Far East, to Europe
and finally back to the U.S.
In the past, the forex inter-bank market
was not available to small speculators
due to the large minimum transaction
sizes and often-stringent financial
requirements. Banks, major currency
dealers and the occasional huge
speculator used to be the principal
dealers. Only they were able to take
advantage of the currency market's
fantastic liquidity and strong trending
nature of many of the world's primary
currency exchange rates.
Today, foreign exchange market maker
brokers are able to break down the larger
sized inter-bank units, and offer small
traders the opportunity to buy or sell
any number of these smaller units (lots)
form their PC's
These brokers give virtually any size
trader, including individual speculators
or smaller companies, the option to trade
the same rates and price movements as the
large players who once dominated the market.
Market makers quote buying and selling rates
for currencies, and they profit on the
difference between their buying and
selling rates.
===How the Retail Spot Forex Works===
When you use retail spot Forex software,
it only requires an internet connection to
trade real-time. No extra data-feed is required.
All online Forex brokers' software is real-time,
rather than delayed. If you download a free
30-day demo of the software, you can "practice
trade" in real-time with the exact same quotes
as a live account. The software is exactly the
same, and you receive virtual money for the
account.
You are then able to enter trades in real time,
and monitor them just as though it were a
real account.
You will experience no difference between the demo
account and a live account. When you log onto your
trading platform, you see your price quotes, and you
simply click on the price to sell or buy. It will ask you
how many lots or contracts you want, and then you
click ok, and you are in.
You can also use the charts they provide with the
trading platform; they will reflect the movement of
the real-time price of their trading platform.
With those charts, you usually have the ability to
place horizontal lines where you choose (pivot numbers).
Each currency is quoted with a "pip spread". This is
how the dealer makes his money. With most online
retail brokers, there are no commissions. For example,
I want to buy the Swiss Franc, and the current quote is
1.7205/1.7210. The dealer will give me the 1.7210 price,
and I would start the trade -5 points which equals $30.00
(for a stand lot).
In my trade window, I would see my money change as the
market price moves back and forth. As it moves in my
favor, my negative position is removed as soon as the
market is trading 1.7210/1.7215, or higher.
In the spot forex market, it is common for currencies
to move 100 to 300 pips/points in a 24-hour session.
If you like volatility, there is no currency more volatile
than the Franc.
If it's action you're looking for, like Mr. Magoo driving
a sports car, then the forex is the place to be.
Forex Trading Mentorship To Success
is the largest and oldest financial market
in the world. It is also called the foreign
exchange market, or "FOREX" or "FX" market
for short.
It is the biggest and most liquid market
in the world, and it is traded 24 hours-a-day .
The forex market is a cash (or "spot")
inter-bank market. By comparison, the
currency futures market is only one per
cent as big.
Foreign Exchange simply means the buying
of one currency and selling another at the
same time. That's it!
In other words, the currency of one country
is exchanged for those of another. The
currencies of the world are on a floating
exchange rate, and are always traded in
pairs - Euro/US Dollar, US Dollar/Yen, etc.
In excess of 85 percent of all daily
transactions involve trading of the major
currencies:
- US Dollar,
- Euro
- Australian Dollar,
- British Pound,
- Canadian Dollar
- Japanese Yen,
- Swiss Franc
Unlike the futures and stock markets,
trading of currencies is not centralized
on an exchange.
Forex literally follows the sun around
the world. Trading moves from major banking
centres of the U.S. to Australia and
New Zealand, to the Far East, to Europe
and finally back to the U.S.
In the past, the forex inter-bank market
was not available to small speculators
due to the large minimum transaction
sizes and often-stringent financial
requirements. Banks, major currency
dealers and the occasional huge
speculator used to be the principal
dealers. Only they were able to take
advantage of the currency market's
fantastic liquidity and strong trending
nature of many of the world's primary
currency exchange rates.
Today, foreign exchange market maker
brokers are able to break down the larger
sized inter-bank units, and offer small
traders the opportunity to buy or sell
any number of these smaller units (lots)
form their PC's
These brokers give virtually any size
trader, including individual speculators
or smaller companies, the option to trade
the same rates and price movements as the
large players who once dominated the market.
Market makers quote buying and selling rates
for currencies, and they profit on the
difference between their buying and
selling rates.
===How the Retail Spot Forex Works===
When you use retail spot Forex software,
it only requires an internet connection to
trade real-time. No extra data-feed is required.
All online Forex brokers' software is real-time,
rather than delayed. If you download a free
30-day demo of the software, you can "practice
trade" in real-time with the exact same quotes
as a live account. The software is exactly the
same, and you receive virtual money for the
account.
You are then able to enter trades in real time,
and monitor them just as though it were a
real account.
You will experience no difference between the demo
account and a live account. When you log onto your
trading platform, you see your price quotes, and you
simply click on the price to sell or buy. It will ask you
how many lots or contracts you want, and then you
click ok, and you are in.
You can also use the charts they provide with the
trading platform; they will reflect the movement of
the real-time price of their trading platform.
With those charts, you usually have the ability to
place horizontal lines where you choose (pivot numbers).
Each currency is quoted with a "pip spread". This is
how the dealer makes his money. With most online
retail brokers, there are no commissions. For example,
I want to buy the Swiss Franc, and the current quote is
1.7205/1.7210. The dealer will give me the 1.7210 price,
and I would start the trade -5 points which equals $30.00
(for a stand lot).
In my trade window, I would see my money change as the
market price moves back and forth. As it moves in my
favor, my negative position is removed as soon as the
market is trading 1.7210/1.7215, or higher.
In the spot forex market, it is common for currencies
to move 100 to 300 pips/points in a 24-hour session.
If you like volatility, there is no currency more volatile
than the Franc.
If it's action you're looking for, like Mr. Magoo driving
a sports car, then the forex is the place to be.
Forex Trading Mentorship To Success
You Can Trade The Forex Like the Pro, without really loosing your money like most new traders would.
I'll show you how you can get your share of this
US$1.7 trillion-a-day forex market. You'll think you've
died and gone to Heaven when you find out how easy it is
to mimic the pros. Click here to trade like the big dogs.
Every day, 1.7 trillion dollars float through the hands
of people who aren't any smarter than you or I are.
It doesn't make any difference if you're an accountant,
baker, butcher, retired sea captain, homemaker,
airline pilot, surgeon - or cop on the beat.
If you're willing to take some direction, you deserve a
nice piece of the action. You'll never have to learn zip
about currencies. You will learn the techniques and
strategies to go out and claim what is rightfully yours.
Play right along with the giants of world commerce. You
won't be on the outside looking in; you'll be enjoying the
thrill of a lifetime, riding on their king-size coattails.
TRADING THE FOREX DESERVES YOUR SERIOUS CONSIDERATION
Forex trading has enjoyed exponential growth and
widespread popularity over the past few years. It is only
now that online foreign exchange trading is starting to
get noticed.
Until recently, large international banks were the big
dogs in the foreign exchange (FX or forex for short)
market, selectively allowing access via telephone
trading to Fortune 1000 companies, large funds,
high-net worth individuals, etc..
But now, there are online trading firms that provide
individual traders like you and I with direct access to
the largest, most liquid financial market in the
world - the forex. A lot of traders seem oblivious to
this market. This unfamiliarity is the root cause of
misconceptions about this exciting market.
Spot foreign exchange is the ideal market for active
trading - more leverage than equities/futures/options.
The market is highly volatile, has a tendency to trend
strongly, and actively trades 24 hours per day. There are
no limitations on when one can short a currency.
Currency traders can make money when a currency is
becoming stronger or weaker.
That's it for now, Caroline. Tomorrow I will give you
the "skinny" on how the Forex works and how you can
profit from it big time.Trading Forex is much more fun when you know how.
US$1.7 trillion-a-day forex market. You'll think you've
died and gone to Heaven when you find out how easy it is
to mimic the pros. Click here to trade like the big dogs.
Every day, 1.7 trillion dollars float through the hands
of people who aren't any smarter than you or I are.
It doesn't make any difference if you're an accountant,
baker, butcher, retired sea captain, homemaker,
airline pilot, surgeon - or cop on the beat.
If you're willing to take some direction, you deserve a
nice piece of the action. You'll never have to learn zip
about currencies. You will learn the techniques and
strategies to go out and claim what is rightfully yours.
Play right along with the giants of world commerce. You
won't be on the outside looking in; you'll be enjoying the
thrill of a lifetime, riding on their king-size coattails.
TRADING THE FOREX DESERVES YOUR SERIOUS CONSIDERATION
Forex trading has enjoyed exponential growth and
widespread popularity over the past few years. It is only
now that online foreign exchange trading is starting to
get noticed.
Until recently, large international banks were the big
dogs in the foreign exchange (FX or forex for short)
market, selectively allowing access via telephone
trading to Fortune 1000 companies, large funds,
high-net worth individuals, etc..
But now, there are online trading firms that provide
individual traders like you and I with direct access to
the largest, most liquid financial market in the
world - the forex. A lot of traders seem oblivious to
this market. This unfamiliarity is the root cause of
misconceptions about this exciting market.
Spot foreign exchange is the ideal market for active
trading - more leverage than equities/futures/options.
The market is highly volatile, has a tendency to trend
strongly, and actively trades 24 hours per day. There are
no limitations on when one can short a currency.
Currency traders can make money when a currency is
becoming stronger or weaker.
That's it for now, Caroline. Tomorrow I will give you
the "skinny" on how the Forex works and how you can
profit from it big time.Trading Forex is much more fun when you know how.
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