Thursday, December 31, 2015
Wednesday, December 30, 2015
FOREX THEORY
Trading Multiple Time
Frames In Forex
What the heck is multiple
time frame analysis? (Part 2)
What are you supposed to
do?
Stick with one time frame,
take the signal and completely ignore the other time frame?
Flip a coin to decide
whether you should buy or sell?
Luckily for you, we here at
BabyPips.com aren’t about to let you graduate without knowing how to use
multiple time frame analysis to your advantage.
First, we’ll try to help
you determine which time frame you should focus on. Each forex trader should
trade a specific time frame that fits his or her own personality (more on this
later).
Secondly, we’ll also teach
you how to look at different time frames of the same currency pair to help you
make better, more educated trading decisions.
Thursday, December 24, 2015
"YOUR WEALTH IS OUR HEALTH"
HOW DO I PAY AND REGISTER FOR THE SERVICE?
For subscription rates, payment methods, or to sign up, you
can e-mail: drhari@sslfxguru.com or sslfxguru@yahoo.com. You can also subscribe
online through our website. If you need additional assistance, you can e-mail
us at support@sslfxguru.com.
Wednesday, December 23, 2015
FOREX THEORY
Trading Multiple Time Frames In Forex
What the heck is multiple time frame analysis?
Multi-time frame ana… WHAT?! Chill out young padawan, it
ain’t as complicated as it sounds!
You’re almost done with high school – now’s
not the time to get senioritis, although you probably got that way back in
Grade 12. Ha!
Multiple time frame analysis is simply the process of
looking at the same pair and the same price, but on different time frames.
Remember, a pair exists on several time frames – the daily,
the hourly, the 15-minute, heck, even the 1-minute!
This means that different forex traders can have their
different opinions on how a pair is trading and both can be completely correct.
John may see that EUR/USD is on a downtrend on the 4-hour
chart. However, Jane trades on the 5-minute chart and sees that the pair just
ranging up and down. And they could both be correct!
As you can see, this poses a problem. Trades sometimes get
confused when they look at the 4-hour, see that a sell signal, then they hop on
the 1-hour and see price slowly moving up.
QUOTE OF THE DAY
"Negative people don’t want solutions. Solutions mean
they have to work to find something else to be negative about.”
By Tom Ziglar.
Tuesday, December 22, 2015
Monday, December 21, 2015
FOREX THEORY
Summary: Currency Crosses
As you can see, there are
many, many trade opportunities presenting themselves in the forex market other
than figuring out what the Greenback will do any given day – and now you know
how to find them! Here are a couple of things to remember:
·
Crosses give forex traders more pairs to trade,
which means more trading opportunities.
·
We normally see cleaner trends and ranges on
currency crosses than we do on majors.
·
You can take advantage of interest rate
differentials by trading currency crosses.
·
Do your due diligence and analysis and match the
strong currencies against the weak ones.
·
If the pair you are looking to trade isn’t
available with your broker, don’t worry. You know how to create a synthetic
pair by simultaneously going long or short two major pairs to create one
currency cross.
·
The most popular euro crosses are the EUR/JPY,
EUR/GBP, and EUR/CHF.
·
GBP/JPY, AUD/JPY, and NZD/JPY are attractive
carry trade currencies because they offer the highest interest rate
differentials against the JPY.
·
When trading obscure currency crosses, watch out
for wild price swings and wider spreads.
·
Even if you wanna stick to the majors, you can
make use of currency crosses to help you decide between which pairs to trade as
crosses can signal which currency is stronger.
·
Don’t forget that moves in currency cross pairs
can have an effect on the majors.
·
Last tip; please be conscientious of the pip
value of the cross you are trading. Some crosses will have a higher or lower
pip value than the majors. This information is good to know for your risk
analysis.
·
So, on the days you may not see any
opportunities in the major pairs, or if you want to avoid the volatility of a
US news event, check out some the currency crosses. You may never know what you
may find!
So you
see, currency crosses aren’t just for weirdos like Cyclopip. If you want to
talk to your fellow forex traders who also play the crosses, our Currency
Crosses forums is the place to be!
Friday, December 18, 2015
"YOUR WEALTH IS OUR HEALTH"
WHY DO I NEED FOREX SIGNAL?
Forex traders agree that timing is everything. Getting into
the market just as it is about to move often makes for the largest possible
profits but can also make large losses. Most traders find it difficult to get
into the market at the right time and impossible to be at their computers 24
hours a day 5 days a week to monitor the market for activity. The SSL FXGURU
signals, can help you become a better trader and alert you to trading
possibilities. Let us be your eyes to the World Currency market.
QUOTE OF THE DAY
"The difference between who you are and who you want to
be is what you do."
By Zig Ziglar.
.
Wednesday, December 16, 2015
FOREX THEORY
How Cross Currency Pairs Affect Dollar Pairs (Part 2)
This is due to the currency crosses! In this particular
example, EUR/JPY.
When USD/JPY broke through its major resistance level, the
combination of stop losses being hit and breakout traders jumping on the
bandwagon pushed it even higher.
Since buying more USD/JPY weakens the yen, this would cause
EUR/JPY (and possibly other yen-based pairs) to break through its major
resistance level, once again hitting stops and attracting breakout traders,
pushing EUR/JPY even higher.
This causes the euro to strengthen and slows down the
descent of your EUR/USD trade. The EUR/JPY cross buying acts a “parachute” and
this is why EUR/USD didn’t move as much or as fast as the USD/JPY.
So even if you only trade the major currencies, cross
currency pairs still have an effect on your trades!
Tuesday, December 15, 2015
QUOTE OF THE DAY
"The beautiful value of the past is the platform it
presents for even better future possibilities."
By Robin Sharma.
Monday, December 14, 2015
FOREX THEORY
How Cross Currency Pairs
Affect Dollar Pairs
Let’s pretend the Fed
announces they will raise interest rates. The market quickly starts buying the
U.S. dollar across all major currencies….EUR/USD and GBP/USD fall while USD/CHF
and USD/JPY rise.
You were short EUR/USD and
were pleased to see price move in your favor making you some pips, but right
before you were about to break out the cigar, you notice your friend who was
long USD/JPY made a lot more pips than you.
You’re like “What’s up with
that yo?”
You compare the charts of
EUR/USD and USD/JPY and see that USD/JPY made the bigger move. It broke through
a major technical resistance level and shot up 200 pips while EUR/USD barely
shot down 100 pips and failed to break a major support level.
You’re thinking to
yourself, “If the U.S. dollar was being bought across the board, then how come
my EUR/USD trade looks so weak compared to my friend’s USD/JPY trade?”
QUOTE OF THE DAY
"In order to succeed, your desire for success should be
greater than your fear of failure."
By Zig Ziglar.
Friday, December 11, 2015
FOREX THEORY
Know Which Currency Cross to Use
Let’s say you’re bearish on the
U.S. dollar. How will you trade?
Can’t decide whether to buy EUR/USD
or sell USD/CHF? Look at EUR/CHF.
Can’t decide whether to buy USD/CHF
or USD/JPY? Look at CHF/JPY.
Can’t decide whether to buy EUR/USD
or sell USD/JPY? Look at EUR/JPY.
Can’t decide whether to buy GBP/USD
or sell USD/CHF? Look at GBP/CHF.
Can’t decide whether to buy GBP/USD
or sell USD/JPY? Look at GBP/JPY.
So always remember, looking at
currency cross pairs could give you an idea of the relative strength of a
particular currency.
QUOTE OF THE DAY
"In life, it is not the most talented who wins – it’s
the bravest."
By Robin Sharma.
Thursday, December 10, 2015
"YOUR WEALTH IS OUR HEALTH"
HOW TO CHOOSE A GOOD FOREX SIGNALS PROVIDER?
Selecting a good Forex signals provider requires some common
sense and a bit of investigative work. Do not take everything at face value and
rest assured that amongst the legit professionals out there, there are many
swindlers who are preying on the naive and inexperienced Forex traders. Since
almost everyone can set up a professionally looking website in a matter of
minutes and listing fictitious performance results is nothing new, you should
always take the time to verify the numbers. Read reviews, visit some of the
large Forex forums, and speak to past subscribers in order to verify the
legitimacy of the Forex signals provider that you are considering. Find out if
their website has been around for at least as long as their trading history and
see if the provider offers back testing, which will allow you to confirm the
quality of their Forex signals.
Some Forex signals providers send the alerts to third party
websites, which then rank all of them based on their daily, weekly, or monthly
performance and allow the traders to filter the various providers based on the
system type, total gain, drawdown, and other factors. As a final resort, you
can visit some of the large currency trading message boards, where all Forex
related services are openly discussed and try speaking to past subscribers and
find out more about their experience.
Keep in mind to be disciplined and patient while trading to
avoid losses. Always trade with what you can afford to lose, exercise good
money management, and try to learn as much as possible in order to become a
successful trader!
Wednesday, December 9, 2015
FOREX THEORY
How to Use Currency Crosses to Trade the Majors (Part 3)
To find the right answer, you would look at EUR/GBP cross.
If EUR/GBP is trending downward, this indicates that the
pound is relatively stronger than the euro at the moment.
So the right answer would be to buy GBP/USD instead of
EUR/USD due to the pound’s relative strength against the euro.
Since the euro is weaker, relative to the pound, if it
proves to strengthen against the U.S. dollar, it is likely to strengthen LESS
than the pound.
If the U.S. dollar weakens across the board, GBP/USD you
would make more pips since it would rally higher than EUR/USD.
So GBP/USD is the better trade.
QUOTE OF THE DAY
"The fastest way to success is to replace bad habits
with good habits.”
By Tom Ziglar.
Tuesday, December 8, 2015
QUOTE OF THE DAY
"Almost every successful person begins with two
beliefs. The future can be better than the present and I have the power to make
it so."
By Zig Ziglar.
Monday, December 7, 2015
FOREX THEORY
How to Use Currency Crosses to Trade the Majors (Part 2)
Currency crosses can provide clues about the relative
strength of each major currency pair.
Let’s say you see a buy signal for EUR/USD and GBP/USD but
you can only take one trade.
Which one do you take?
Simply looking at your crystal ball and guessing isn’t
likely to result in the right answer.
Wednesday, December 2, 2015
QUOTE OF THE DAY
"Yesterday is history. Tomorrow is your future. Today
is your life. Live it."
By Billy Cox.
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