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Trading advice & trading tips

A page where we share ideas, thoughts other small discoveries.

Got advice about Forex trading?

A simple method you use every time?

May be some indicators you like most?

An opinion on stops, exits, money management etc?

This page is dedicated to those small important factors that help you in every day trading.

take the time to study and learn the elliott wave principal, when you can see a wave developing use the fibonachi tools available an a mt4 platform and use the retracement and expansion tools at the points where the cycles are changing to the next part of the wave to see the targets for the price movements.

after placing a trade I watch the market second by second and if the trade moves to a loss I stop the trade manually long before the minimum stop loss

I record on paper times when markets are most active and when dormant and trade when market active for eg gbp/USD changes frequently 920am-940am and starts a new trend not every day but most days of the week

candlestick charts I only use Bollinger and Parab settings the same settings for all Forex pairs for eg; if Bollinger band moves vertically through top Parab line this indicates a strong fall in the market
I complete an order ticket for the trade in ADVANCE the very second the trade moves in my favour I place the order

Fibonacci-based trailing stop:
Each time a fresh candle closes, pull fibonacci retracements from its high to its low.
Set trailing stop at 0.65 Fibonacci retracement level. Trail stop with each new candle.

If after important economic announcements there is no immediate reaction, choose your bias towards selling or buying anyway. The reaction may come several days later during a decision making point, for example a breakout of the pattern, trend line break etc. By being already biased, you can judge whether to enter on a such breaks if they line up with your opinion.

At 5:00pm EST some traders tend to review their Pivot points.
If after 5pm with new Pivot points in place price happen to be close to the main Pivot point line, a rally or a sell-off may follow soon. This is especially true when price has been ranging before 5pm for some time.
Also note, that due to rollover schedules, many traders prefer to hold on with opening new trades until after the rollover is calculated. So, after 5pm a wave of traders may return, if price trades around important levels.

After reaching the top price can move down very quickly, while when reaching the bottom it almost never goes straight up, instead it slowly curves upwards.

Therefore, when going counter-trend, buying on bears territory is much riskier than selling on bulls territory.

Does anyone have a successful strategy for the asian market time?