Last nite jump was expected but GBPUSD never made it big. Only EURUSD and AUDUSD manage to jump big enough. EURUSD was screaming long from early morning yesterday while AUDUSD make the last minute move.
From a long term perspective. AUDUSD is in a good position for a short position. This is a long term strategy and may require you to have high tolerence toward -ve pips.
So the signal is to short AUDUSD and AUDJPY at the best position as humanly possible. This trade may run up to weeks if not months. So prepare your account for long term holding of post.
Wednesday, February 4, 2009
Advantages of the Automated Forex Trading
Trading with the expert advisors is seen by many (especially newbie) traders as the «holy grail» possibility. Such traders expect from each EA they find or buy the fast and risk-free profits. Of course, expert advisors are not the «holy grail» in Forex trading. Automated Forex trading is just another tool that can make the trader’s life a bit easier and sometimes even more profitable. Here is the list of the advantages of trading Forex with expert advisors:
1. With expert advisors you can trade during the time you can’t trade manually. You can set up an expert advisor to trade for you when you are asleep, when you are away or when you are too busy to be involved in the market. Of course, you can hire someone else to trade for you, when you are away, but that’s rather ineffective decision.
2. Strict following the trading system is another advantage of the automated Forex trading. If you have a strategy implemented in the expert advisor it will trade according to that strategy without any deviations. If you find it hard to follow your own system without modifying it constantly, try using an EA that would do all the work.
3. Automated trading excludes any emotions form your market behavior. Computers and programs don’t have any emotions and won’t overtrade if they lose. If you are not very good at holding your emotions down, automated trading will definitely help you.
4. Complicated strategies are not a problem for the expert advisors. For the live trader it’s not an easy task to monitor a dozen of indicators and compare each of them to the entry conditions, whereas expert advisors can do that easily and in no time at all.
5. «Errare humanum est» said the Roman stoic; that means that despite your experience in Forex trading, you’ll make a lot of stupid mistakes through your trading career. Computers are not human, and if programmed without errors, expert advisors won’t make any errors during the trading.
6. There are many things a live trader just can’t do — trading on multiple strategies, timeframes and currency pairs simultaneously is one of them. If you want to use your system on several currency pairs and timeframes — use expert advisor. If you want to test several systems at the same time — also use the expert advisor.
7. The time of reaction, analysis and decision making can be critical in many Forex trading systems. Where manual trader just can’t do it fast enough, automated systems will work fine
1. With expert advisors you can trade during the time you can’t trade manually. You can set up an expert advisor to trade for you when you are asleep, when you are away or when you are too busy to be involved in the market. Of course, you can hire someone else to trade for you, when you are away, but that’s rather ineffective decision.
2. Strict following the trading system is another advantage of the automated Forex trading. If you have a strategy implemented in the expert advisor it will trade according to that strategy without any deviations. If you find it hard to follow your own system without modifying it constantly, try using an EA that would do all the work.
3. Automated trading excludes any emotions form your market behavior. Computers and programs don’t have any emotions and won’t overtrade if they lose. If you are not very good at holding your emotions down, automated trading will definitely help you.
4. Complicated strategies are not a problem for the expert advisors. For the live trader it’s not an easy task to monitor a dozen of indicators and compare each of them to the entry conditions, whereas expert advisors can do that easily and in no time at all.
5. «Errare humanum est» said the Roman stoic; that means that despite your experience in Forex trading, you’ll make a lot of stupid mistakes through your trading career. Computers are not human, and if programmed without errors, expert advisors won’t make any errors during the trading.
6. There are many things a live trader just can’t do — trading on multiple strategies, timeframes and currency pairs simultaneously is one of them. If you want to use your system on several currency pairs and timeframes — use expert advisor. If you want to test several systems at the same time — also use the expert advisor.
7. The time of reaction, analysis and decision making can be critical in many Forex trading systems. Where manual trader just can’t do it fast enough, automated systems will work fine
Disadvantages of the Automated Forex Trading
In my last post I’ve described the best advantages of the automated Forex trading. But, of course, I understand that the trading using the expert advisors isn’t always something good. Everything has its own pros and cons; so the automated trading has its own disadvantages and I’ll try to describe them in this article:
1. No intuition to help your trading. Computers and programs simply don’t have anything similar to that mystical human feeling. While some traders don’t think that the intuition can be helpful in trading, others rely on it — such traders probably won’t be pleased with the automated trading.
2. Smooth trade execution and uninterrupted run-time of the expert advisors is critical with many trading systems. Unfortunately, it’s something very hard to achieve running EA from your home or work PC. That means that you’d require some dedicated server to run your automated trading.
3. Some types of strategies are simply impossible to implement into the real expert advisors. The chart pattern or wave analysis and fundamental analysis are extremely hard to code in the trading program. At the current level of the AI development these tasks are better performed by he live trader manually.
4. The expert advisors should be made quality or otherwise their trading results will disappoint you. Unfortunately, not all expert advisors handle errors and other unexpected events correctly — sometimes this can lead to the huge losses. Moving your working EA from one broker to another can also be a problem, since broker servers differ and what works perfectly on one broker can stop working on another.
As you see, nothing is perfect in this world and, while being the extremely interesting and popular tool, automated Forex trading has its own problems. The wise decision here, in my opinion, would be using both types of trading to your advantage. The systems that can be easily implemented as the expert advisor and are too hard to be traded manually are better to be automated, while the simple systems that involve chart pattern and fundamental analysis are better left for the manual trading
1. No intuition to help your trading. Computers and programs simply don’t have anything similar to that mystical human feeling. While some traders don’t think that the intuition can be helpful in trading, others rely on it — such traders probably won’t be pleased with the automated trading.
2. Smooth trade execution and uninterrupted run-time of the expert advisors is critical with many trading systems. Unfortunately, it’s something very hard to achieve running EA from your home or work PC. That means that you’d require some dedicated server to run your automated trading.
3. Some types of strategies are simply impossible to implement into the real expert advisors. The chart pattern or wave analysis and fundamental analysis are extremely hard to code in the trading program. At the current level of the AI development these tasks are better performed by he live trader manually.
4. The expert advisors should be made quality or otherwise their trading results will disappoint you. Unfortunately, not all expert advisors handle errors and other unexpected events correctly — sometimes this can lead to the huge losses. Moving your working EA from one broker to another can also be a problem, since broker servers differ and what works perfectly on one broker can stop working on another.
As you see, nothing is perfect in this world and, while being the extremely interesting and popular tool, automated Forex trading has its own problems. The wise decision here, in my opinion, would be using both types of trading to your advantage. The systems that can be easily implemented as the expert advisor and are too hard to be traded manually are better to be automated, while the simple systems that involve chart pattern and fundamental analysis are better left for the manual trading
Forex Trading Signals Service - Buy and Sell Forex Signals
* Focus on just one time frame each day
* Accurate Buy and Sell Alerts with Entry, Exit and Stop-Loss Points
* Web-based, E-mail & SMS Alerts
* Real-Live Forex Trading Account Log
“This service was strictly designed to help you generate income from the Forex market, regardless of your current knowledge or trading skills.”
This Forex Trading Signals Service gives very valuable information and when used can very will help you to make unbelievable profits in forex trading.
Having accurate, up to date and understandable information goes along way in trading.
* Accurate Buy and Sell Alerts with Entry, Exit and Stop-Loss Points
* Web-based, E-mail & SMS Alerts
* Real-Live Forex Trading Account Log
“This service was strictly designed to help you generate income from the Forex market, regardless of your current knowledge or trading skills.”
This Forex Trading Signals Service gives very valuable information and when used can very will help you to make unbelievable profits in forex trading.
Having accurate, up to date and understandable information goes along way in trading.
Free Forex Trading on Marketiva
Marketiva provides over-the-counter market making services in Forex, Funds, Indexes and Commodities; $5 cash reward, so you can start trading right away without depositing your own funds; trading on 1% margin; zero-interest on open positions, no market commissions; virtual and live desks within one account; industry standard variable spreads; latest news, alerts on market events, chat channels, 24-hour support, sophisticated and easy-to-use direct-trading charting tool, and the best online trading experience.
What is Marketiva?
With more than 410,000 serviced users, 240,000 unique and live trading accounts, and more than 3.5 million live orders executed each month, Marketiva is one of the most popular over-the-counter market makers in the world.
May I open a test account and try the system first?
Because live and virtual trading desks co-exist within one Marketiva account, you may try our system with a regular account and later use the same account for live trading. In any case, you can open your Marketiva account for free!
How much money do I need to start trading right now?
With its flexible quantity specifications and $5 cash reward, Marketiva allows you to start trading with no money down. Due to strict lot specifications, many other over-the-counter market makers require at least $500 to start with.
Where and how do I start?
Before you can start trading, you need to open an account with us (it is free) and download our trading platform (Streamster). To open your account,
What is Marketiva?
With more than 410,000 serviced users, 240,000 unique and live trading accounts, and more than 3.5 million live orders executed each month, Marketiva is one of the most popular over-the-counter market makers in the world.
May I open a test account and try the system first?
Because live and virtual trading desks co-exist within one Marketiva account, you may try our system with a regular account and later use the same account for live trading. In any case, you can open your Marketiva account for free!
How much money do I need to start trading right now?
With its flexible quantity specifications and $5 cash reward, Marketiva allows you to start trading with no money down. Due to strict lot specifications, many other over-the-counter market makers require at least $500 to start with.
Where and how do I start?
Before you can start trading, you need to open an account with us (it is free) and download our trading platform (Streamster). To open your account,
Make Money Fast In FOREX Trading
Here we are going to look at making money fast in currency trading and some tips to do it.
Much of this advice is not conventional but most currency traders don’t make money fast!
Here are your tips
We are going to assume you trade already, and you have a method you are confident in, and can apply with discipline.
With simple changes in trades taken and money management we will show you how to increase your capital gains.
The trading tips below will work well for traders who want to catch the big profits from the big currency trends that last months or years and will help you make money fast in forex trading.
1. Accept Volatility and Risk
All good FOREX traders understand that volatility and risk mean big money making potential.
You can't have a profitable FOREX trading method without taking risk, you need to risk more to gain more. .
Risk though is misunderstood by most currency traders and they try and limit risk so much that they actually have no chance of making any profits.
They always get stopped out.
The perfect example is the day, or intra day trader, trading in one session with a tight stop.
If you are after a big gain give the trade room to breathe and place a stop that takes into account market volatility.
Also don’t trail your stop to quickly leave it far enough behind not to get stopped out by volatile reactions within the long term trend.
You can’t predict volatility in the day so don’t try.
Look longer term take bigger calculated risks and go for bigger profits and trade less.
2. Trade Infrequently
Many traders trade frequently and always like to be in the market, they fear they will miss a move, or that by trading more frequently, they will make money.
There is no correlation between how often you trade and how much money you make, so learn to be patient.
The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.
Focus on the trades that make the really big gains and be patient while you wait for them.
3. Don’t Diversify
Diversification is a great way to make money slowly not fast you simply are diluting your gains, if you are trading a small forex account.
Focus only on trades that you are confident can make big money in and don’t hedge or take other trades.
If you think the trade is going to be big back your judgment.
4. Money Management
Much of this advice is not conventional but most currency traders don’t make money fast!
Here are your tips
We are going to assume you trade already, and you have a method you are confident in, and can apply with discipline.
With simple changes in trades taken and money management we will show you how to increase your capital gains.
The trading tips below will work well for traders who want to catch the big profits from the big currency trends that last months or years and will help you make money fast in forex trading.
1. Accept Volatility and Risk
All good FOREX traders understand that volatility and risk mean big money making potential.
You can't have a profitable FOREX trading method without taking risk, you need to risk more to gain more. .
Risk though is misunderstood by most currency traders and they try and limit risk so much that they actually have no chance of making any profits.
They always get stopped out.
The perfect example is the day, or intra day trader, trading in one session with a tight stop.
If you are after a big gain give the trade room to breathe and place a stop that takes into account market volatility.
Also don’t trail your stop to quickly leave it far enough behind not to get stopped out by volatile reactions within the long term trend.
You can’t predict volatility in the day so don’t try.
Look longer term take bigger calculated risks and go for bigger profits and trade less.
2. Trade Infrequently
Many traders trade frequently and always like to be in the market, they fear they will miss a move, or that by trading more frequently, they will make money.
There is no correlation between how often you trade and how much money you make, so learn to be patient.
The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.
Focus on the trades that make the really big gains and be patient while you wait for them.
3. Don’t Diversify
Diversification is a great way to make money slowly not fast you simply are diluting your gains, if you are trading a small forex account.
Focus only on trades that you are confident can make big money in and don’t hedge or take other trades.
If you think the trade is going to be big back your judgment.
4. Money Management
Forex Software
We are proud to present some usefull FX Software for free download. Take a look on the list below:
* Forex Market Hours Monitor
Published: November 26, 2006 08:51
This software will help you to manage your account and to see main bourses working time
* Forex Market Hours Monitor
Published: November 26, 2006 08:51
This software will help you to manage your account and to see main bourses working time
Subscribe to:
Posts (Atom)