FAST FOOD: February 2011

Sunday, February 13, 2011

Simple Trading Method with trader101

I introduce this system in the other forum and quickly it become a phenomenal ground breaking methodology and created a buzz in the Forex world, and feel compiled to introduce this also here in this Forum.

Ive been been playing this method for about 3 months now after a 2 years collecting data and observing ccy pairs behavior and started trading this live and the return is quite good. This is a very simple method and it is all base on price action, indicator free trading and it is done manually.

First you have to open a demo account (Indicator Account –IA) and make sure that the broker you choose have the ff. pairs (must have) in their platform:

Most brokers have the following Pairs.
1. GBPUSD 8. CADJPY
2. EURGBP 9. AUDUSD
3. GBPCHF 10. USDJPY
4. CHFJPY 11. EURUSD
5. AUDJPY 12. EURCHF
6. EURJPY 13. GBPJPY
7. USDCHF 14 USDCAD

If you are using the IBFX Platform below are your pairs to Hedge:
1. GBPUSD 8. EURUSD
2. EURGBP 9. USDJPY
3. GBPJPY 10. AUDUSD
4. USDCHF 11. NZDJPY
5. NZDUSD 12. GBPCHF
6. AUDJPY 13. CHFJPY
7. EURJPY 14 EURCHF

The first seven pairs is set 1 and the second is set 2. These pairs will hedge each other. Fresh start this method at the very beginning of the week, this will give you a good look at the pairs as weeks goes on. Set 1 trade them SHORT and set 2 trade them LONG. No SL and no TP. As much as possible run a script (attached) so as to maintain correct timing in opening them. Click twice the profit column of your terminal so as to make the positive profit pairs stay at the top and the negatives stay at the bottom or vice versa. Initially the order of this pairs is a mess, let it run for a day or two and you will notice the pairs will start to make a proper order. All the buys will stay at the bottom and all the sells will occupy the top or vice versa. It like putting to rest the dirty bottled water and it will start to settle down after a certain period and all the dirt to the bottom and the clearer water at the top.

About a day or two, all the buys (if negatives) will stay below and the sell (if positives) will be at the top. Now the indication that you should watch is, ideally the bottom 7 slots should be occupied by the negatives, the first pair in the negative that crosses the boundary of positive and negatives is the pairs we are concern. If one of the negative jump to slot 8 (counting from bottom) there is also a corresponding positive that will jump to slot 7. This is one of our signals. We can trade those two pairs that jump out of boundary. There are ways of watching and trading this pair as they start jumping slots. I called this method the Jumping Pairs Technique. There are also numerous variations associated with jumping pairs that I will discuss later in the thread. Another profitable method of trading is the trading of 14 pairs straight Buy or Sell, criteria of which I will also discuss in the later part of the thread.

You should have another account where you real trading will be executed. You can trade the two pairs that jump out. If the pair that jumps up is LONG then trade the two breakaway pairs LONG or vice versa. I also trade the next two pairs that jump of the boundary. I limit myself to just 4 pair’s max 5 pairs being traded at one time. The profit is up to you, what I do is when the pair I’m trading retreats a slot or 2 slots then I close it. Or sometimes I just leave and the Profit Protection EA does the watching of the trade.

Remember do not touch your demo account as this will serve as your indicator and keep it running all the time and just check it once in while for any jumper pair and then trade them.

On the attached terminal copy, you can see the breakaway pair USDCAD and was traded and make some pips on it. Consequently the other pair GBPUSD also jump 1 slot down and can also be traded Long as well.

There will be many more setup as we go along.

I hope i explain it well. Good Luck trading,
Trader101

Note:
1) this method is manual.. Again manual... Indicator is fine.
2) I am trying to avoid any EA being made out of this system, indicators are welcome.
3) To those who will benefit from this method, my only request is to GIVE CREDIT TO WHERE CREDIT IS DUE this is given unselfishly free. Pipscorer/Trader101
PS: For advance reading go here:
Simple Trading Method with trader101

Linuxtroll Simple Scalping

-Identify the time (example: EST 3:00-3:30)
-Monitor the market using <=1min time frame (use the attached setup)
-Identify the direction of the move
-Jump in and out with higher lots
-You are done for the day within 30-60min (check the charts below)
-Go out and golf

NB! Spend a few months screen time with this setup... If you detect that the price is moving against you -- jump out immediately -- you will always get better trades later... You can add Rainbow to support and capture big moves (here you can pick the time frame based on your risk capital)... Only use this scalping style with ECN and jump in when you get the spread <=zero... Keep it Simple and Smart... Make Money and Enjoy...

NB! For more details about the Cyrox Method and Tools:
http://www.cyrox.com/
http://www.cyrox.com/forum

Saturday, February 12, 2011

Simple Trading Method with trader101

Top 10 Myths about Forex

Forex is a market where exchange of one currency with another currency takes place. It's the market which provides accessibility and liquidity to the traders to buy and sell one foreign currency in exchange of another.
Forex traders seek profit in buying currencies low and selling them high. This kind of trading became more popular with the widespread of the on-line Forex brokers. There is a lot of information available about Forex on the web. However there also many myths surrounding the foreign exchange market:

Forex trading is easy. Many people that want to dive into the world of the foreign exchange market believe that the Forex trading is easy — you just read a book or two and then you will be able to earn daily profits with just 2-3 hours trading daily. Others think that they can buy a profitable strategy and it will make them rich in Forex. In reality that's just a myth. Succeeding in Forex isn't easier than mastering any other profession — it takes time, money and a lot of practice.
"I will make money in Forex, if I can trade stocks successfully." Success in stock market doesn't imply that you will get success in Forex market — there are many differences between trading stocks and the spot currencies. First of all, Forex market requires a lot of hard work and dedication as this market is open for 24 hours a day. You cannot just sit in front of your computer for the whole day and night, so the best way is that you should find the most suitable time periods for trading. Second, "buy&hold" strategy simply won't work in Forex market. Third, you don't have that much information about currencies as you can get from the companies' reports and statistics.
"I can make profit whenever I want if Forex market is open 24 hours a day."Once again, you won't be sitting in front of your PC for the whole day to be able to trade 24 hours. You'll have to develop automated trading software to get the advantage of 24 hours a day working schedule.
"I can be a successful Forex trader just following someone else's signals." Many beginning traders get burned by the blind signal-following. That's like putting away the whole responsibility for your actions to someone else. That may sound cool, but in reality you end up with the huge losses. Learn to rely on your own knowledge and skills. Remember that there were no great signal-followers in any financial market.
No commission is to be paid in Forex market. You only have to pay the spread, but you don't have to pay the commission. And what's spread? It is the difference between the buy and sell price of the currency pair at the same moment. You may end up with the major part of your profits in the broker's hands if you plan to rely on the short-term trading.
Forex is a scam. Some skeptics and disappointed traders think that Forex is just some new fad to scam people for their hard earned money. Although there are many scams that are hiding behind the "brand" of Forex, that doesn't mean that the Forex itself is a scam. There are many institutional Forex brokers, regulated Forex account managers and other solid companies in the market to whom you can trust.
"I need to exactly predict the market outcome to be profitable in Forex." There is no scientific method to know something in advance in the market with a 100% certainty. There would be no Forex market if you could know the exact currency rates beforehand. Trading is not the game of certainties; it's a game of odds. One of the first things that new traders learn is to think in the terms of probabilities and risk-to-reward ratios.
"I need to use a very complex strategy to be successful in Forex." It's a popular myth, in which many on-line sellers would want you to believe. The main requirement to be successful in Forex is a self-discipline and money management. There are many traders that make consistent profits with rather simple and old strategies.
"I need to have a lot of starting capital to get profit in Forex." Big capital investment won't help you in Forex. You don't need a lot of money to diversify in currencies and you can't move the currency rates with your trading orders (you'd need billions of dollars to do that). Actually you can trade with a very a little capital, because Forex trading is almost always leveraged with the broker's money.
Forex is gambling because it's completely random. Although there is no certainty in Forex (as in any financial market) it doesn't mean that it's completely random. And it's certainly not a gambling, since your success in this market depends mostly on your skills and experience, not on your luck.

Knowledge is power — so it's better for you to learn distinguishing some stereotypical myths from the real thing. Don't fall for the promises of getting some easy profits in Forex, but don't be afraid of the market just because some people think it's not possible to earn there. Be rational — this quality will help you either if you are going to trade in Forex or not

**Petikan dari artikel BKForex

He was like so many eager traders I've seen before. A well groomed, earnest young man who looked at me expectantly as crowds of people swirled around us at the annual Dubai forex trade show.

"Tell me," he said, "how do you succeed in this business?"

Normally I would have launched into my stock answer about learning the key economic calendar events of G10, the importance of following the latest news and the need to practice on demo account. Blah. Blah. Blah.

However, something about the guy touched me and I replied with complete honesty.

"Want to really know how to trade?" I asked rhetorically.

"There is only one way. You open an account and just trade."

"But what about education, what about training?" he asked surprised at the bluntness of my answer.

I smiled and shook my head."If you were studying to be a lawyer, a doctor or an engineer, that would be the way to go. But trading is different. In trading you need to do first and learn later. Until you've done one thousand trades you can't even begin to understand this game"

Trading is indeed different. It requires practice first and education second. That may seem counterintuitive but it is not. Trading at its core is the discipline of learning to minimize your mistakes. \Trading is such an unpredictable endeavor that it can never be taught in formulaic way like engineering. In trading professional perfection is impossible even if you know all the proper rules.

To master trading you need to experience the frustration of selling when you meant to buy, the utter shock of an instant three hundred point price move against you, the annoyance of seeing the spreads widen just as you are about to reach your profit target and a million other little disasters that they never tell you about in trading school.

Most importantly you need to learn about yourself. What mistakes will you make when you trade? Will you trade without a stop? Will you add to a losing position? Will you trade in revenge for an unexpected loss? Will you rush your entry? Will you exit too soon? Will you do all of this and more?

Only after you've traded blindly for a while can you begin to understand what it takes to succeed in this business. And only then will you become receptive to a proper trading education. Trading is first and foremost an exercise in psychology and although many gurus will promise to provide you an ironclad mindset, the truth of the matter is that this skill can't be taught. Confidence comes from competence and competence comes from endless rounds of practice and thousands of mistakes.

So if you really want to learn how to trade just trade. And keep trading and trading and trading and just like a baby who stumbles hundreds of times before he finally finds his balance and learns to walk, you will eventually begin to master the market.

Wise man said, "Don't trade alone,,,spread the word. Focus on learning a simple system and then trade it with confidence and discipline and you are on the road to forex trading success and a great second income".

Menurut INVESTOPEDIA,

What Does Scalping Mean?
A trading strategy that attempts to make many profits on small price changes. Traders who implement this strategy will place anywhere from 10 to a couple hundred trades in a single day in the belief that small moves in stock price are easier to catch than large ones.

Investopedia explains Scalping
Traders who implement this strategy are known as scalpers. The main goal is to buy (or sell) a number of shares at the bid (or ask) price and then quickly sell them a few cents higher (or lower) for a profit. Many small profits can easily compound into large gains if a strict exit strategy is used to prevent large losses.

Sebelum memulakan teknik scalping ni, ada satu TIPs yg Pak Lang dapat dari internet iaitu strategy yg diguna pakai oleh professional scalpers.

1. Target 10Pips on every post open

2. Spent time mostly at 15M chart

3. Refer 1HR chart for overall perceptions and to look for divergence

4. Always protect (stop loss) at 30pips - there will be 3 out of 5 loses in trade

5. Watch the 'Trend line Breakouts' to know when to make "MOVE"

6. Don't pull the trigger because you "THINK" it's time to do so. Wait for SIGNAL

Only 4 clues to use

          a- Reading Bars / Candles

          b- MACD Divergence

          c- PIVOT points

          d- Trend line analysis

Wednesday, February 9, 2011

FOOD FOR A HEALTHY BODY

Mainstream North American dietary habits restrict vitamin, mineral and fibre consumption, leading to many undesirable symptoms and health problems. Health experts recommend a daily intake of 25 – 40 grams of fibre for a healthy body. The average North American consumes only 10 grams most due to consuming highly refines processed food.

     Fibre is essential for a well functioning gastrointestinal tract, cholesterol reduction, and maintains a healthy level of beneficial bacteria in the intestinal tract. There are two groups of fibre: soluble and insoluble. The latter exerts a mechanical action, whereas the former is more diverse and this depends on their chemical properties. Soluble fibres such as psyllium, flax and guar absorb water creating a greater feeling of satiation thus controlling intake of food.

     Fibrous fruits and vegetables are excellent sources of fibre, as well as being low in calories. Our hunter-gatherer ancestors ate many fruits, vegetables and unprocessed grains.

     Researchers determined that there is no substitute to consuming natural vitamins. They are more beneficial, provide more pleasure, and happen to be less expensive.

     In fact some peoples in North America (Inuit and First Nations) cannot absorb certain synthetic minerals and vitamins. Natural unprocessed, uncooked foods are better for the body than those grown with the help of pesticides, fungicides, or are irradiated “micro waved” or genetically engineered.

     Cooking at high temperatures reduces proteins available in the food up to 50 percent destroys 60 – 70 percent of vitamins, and processed foods change the structure/ All of the above are vital for building and maintaining energy and health. Yet, most people prefer convenience to health. Convenience comes at a high price in form of time used to acquire natural food, the perishable nature of it, preparation and cooking. Harried life styles prevent time consuming food preparation, and make processed food a necessity for those short-sighted enough to set priorities in their lives.

     When food is heated above 118C and consumed at this temperature, it damages inner tissues and enzymes are destroyed, all linked to health and longevity. Enzymes are vital in digestion, nerve impulses, detoxification, repair of tissues and a healthy mind. Properly prepared and cooked foods taste better, they play an important role in slowing the aging process.

     Eating healthy requires attention to detail and those who practice it are richly rewarded

     Treating food simply as fuel for the body inevitably proves costly in the end.

Article contributed by Hrayr Berberoglu, a Professor Emeritus of Hospitality and Tourism Management specializing in Food and Beverage. Books by H. Berberoglu