Forex Trading Profit :
Question by amir s: hi i want a best and simple andicator for forex trading?profit+simple?
forex trading.andicator.simple
Best answer:
Answer by Suzane P
As with most technical indicators MACD determines the trend. If you stay with the trend you could become a successful forex trader. Finally in a practical sense MACD denotes the simple convergence of two moving averages. For example, it could appear as the average price line for the past week crossing over (perhaps up or down) the average price line for the past two weeks. A rising MACD indicates a rising price. When the two lines meet it is considered a neutral situation. Finally a decline below neutral usually indicates a short term declining trend. As a beginner it would suffice to know just the basics of MACD as elucidated above. But if you want to know more of the MACD and how it is constructed you would do well to join forums or search the Internet.
I simply find MACD best for myself……
Add your own answer in the comments!
Forex: EUR/JPY easing from session high of 110.68
FXstreet.com (Barcelona) – The EUR/JPY jumped up nearly 50 pips in overnight trading over Asia to a session high just under 110.70. A strong Japanese yen due to persistently high risk aversion however continues to weigh heavily on crosses, pressuring the pair slightly lower since.
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Forex Trading Profitable – Build Your Own Profitable FOREX Trading System in Five Simple Steps
Forex Trading Profitable
If you want to make big profits, then you should know that the best way is do it for yourself – and not rely on others.
Any trader (even a novice) can build a successful FOREX trading system – and this article shows you how to build a profitable system in five simple steps.
What Makes a Successful FOREX Trading System?
Successful trading systems have three main characteristics:
1. They are Simple
Forget complicated systems with lots of rules – it’s a proven fact that simple systems work better – and are less likely to fail, in the brutal world of trading.
2. They Run Profits and Cut Losses
You need to have a longer term FOREX trading system that milks the big trends for profit, and cuts losses quickly. Forex Trading Profitable
3. They Follow Long Term Trends
There is no point in trading for small profits – i.e. day trading, as you will never cover your inevitable loses with small profits.
Focus on long-term trends – it’s these that yield the big profits, as they can last for years.
Now let’s get down to the five steps of building a FOREX Trading System:
1. Your Method
We have said to keep it simple, and this is exactly what you should do – just a few rules, and a robust money management system.
2. Spotting Opportunities
Look for the long-term weekly trends, and then move to daily charts to time entry. When we say long-term trends, we mean months, or years – NOT just a week or two.
3. The Best Way to Trade Currencies is via a Breakout Method. Forex Trading Profitable
Breakouts occur in all currency markets all the time – so base your system on a trend following breakout system.
There isn’t space here to describe exactly what a breakout system is, but we have articles on breakouts posted on our web site.
It’s a fact that most of the world’s billionaire traders use breakout systems in their trading – and you should use a breakout system as well.
4. Timing Entry
The best way to time an entry is to watch for a break on the chart, confirmed by stochastics crossing with bullish or bearish divergence – this is a great timing tool.
When you are in strongly trending markets, you can also use Bollinger bands, to time your entries – and take profits.
The Bollinger band is a great filter indicator, and all traders should consider it. Forex Trading Profitable
