Today I want to show you a video. No, it's not about the forex market but rather a video of a stock market trader, reacting to what happened on the 6th of May 2010, when the "flash crash" happened. Listen to the crazy tone in his voice, when the stock price does not update. Maybe you've seen this video before; but if you haven't, then I suggest that you do.
It goes to show HOW IMPORTANT it is to have a stop loss, now matter what forex trading system you use, in case some unexpected event happens. The very same thing happened to the forex market, and may happen again today, tomorrow or in 8 months time. So, here's my advice that will never fail you. EVER!
Please make sure to watch the video I have provided.
ALWAYS-USE-A-STOP-LOSS.
Monday 22 August 2011
Saturday 20 August 2011
Best Days Of The Week To Trade
From my experience, the London session is the busiest out of all the different sessions. But there are also certain times in the week, where the forex market tends to see a lot of movement. Tuesdays, Wednesdays and Thursday move more, than rest of the week.
MANAGING YOUR TIME WISELY
Unless you never sleep, there is no way anyone can trade the Sydney, Tokyo, London and New York sessions. Even if you could, would you want to? While the forex market is open 24 hours a day, 5 days a week, it doesn't mean that action happens all the time. Sleep is an integral part of a good, healthy lifestyle.
You need 8 hours of sleep to recharge your batteries and be able to have enough energy, even to do the most boring of tasks. Each forex trader should learn when to trade.
BEST TIMES TO TRADE
The best time to trade is when two sessions are overlapping. There are also times when major news events come out to spark some volatility and directional movements.
The middle of the week typically shows most movement, as pip range widens for most of the major currency pairs.
The European session tends to be busiest out of the three.
WORST TIMES TO TRADE
Holidays: Everybody is on holiday.
During American Idol, major football matches.
Fridays: Liquidity dies down during the latter part of the U.S. session.
Major news events: You don't want to get whipsawed by spikes in the market.
Always remember these times when to and when not to trade, and you'll be better off in trading the forex market with your trading system.
Friday 19 August 2011
The Advantages Of Forex Trading
There are a lot of benefits and advantages of trading the forex market. Here are some of the benefits of trading the forex market:
NO MIDDLEMEN
Currency trading eliminates the middleman and allows forex traders to trade directly with the market responsible for the pricing of all currency pairs.
A 24 HOUR MARKET
No waiting is needed for the opening bell. Opening on Monday morning in Australia, to closing in New York, the forex market will never rest. This is great news for anyone looking to trade part time, because you can choose ANY time of the day or night to trade.
NO COMMISSIONS
There are no government fees, no clearing fees or exchange fees. Retails brokers are compensated for their services through the "bid-ask spread"
As you can see, there are many benefits of trading the forex market; and there are more benefits than the things that I have listed here! Just make sure to use a trading system and stick to it. And then, you will have even more benefits!
Thursday 18 August 2011
Forex Trading Sessions
While the forex market is open 24 hours a day, five days a week, the forex market is divided into four major trading sessions.
SUMMER
The Sydney session is open: 6:00 PM - 3:00 AM EDT
(10:00 PM - 7:00 AM GMT)
The Tokyo session is open: 7:00 PM - 4:00 AM EDT
(4:00 AM - 8:00 AM GMT)
The London session is open: 3:00 AM - 12:00 PM EDT
(7:00 AM - 4:00 PM GMT)
The New York session is open: 8:00 AM - 5:00 PM EDT
(12:00 PM - 9:00 PM GMT)
WINTER
The Sydney session is open: 4:00 PM - 1:00 AM EST
(9:00 PM - 6:00 AM GMT)
The Tokyo session is open: 6:00 PM - 3:00 AM EST
(11:00 PM - 8:00 Am GMT)
The London session is open: 3:00 AM - 12:00 PM EST
(8:00 AM - 5:00 PM GMT)
The New York session is open 8:00 AM - 5:00 PM EST
(1:00 PM - 10:00 PM GMT)
We can see that in between each of the sessions, there is a period where two sessions are open at the same time. From 3:00-4:00 am EDT, the Tokyo session and London session overlap, and from 8:00-12:00 am EDT, the London session and the New York session overlap.
Naturally these are busy times during a trading day for forex traders, because there is more going on when two markets are open for trading at the same time. All the forex traders are busy wheelin' and dealin', which means that a lot more money is changing hands during this time.
It's a good time to trade the forex market, when two sessions are open at the same time.
Friday 5 August 2011
Thursday 4 August 2011
An Accurate Way To Trade Using The Hector Trading System
Dear Forex Trader, My name is Hector and I am a full-time Forex trader. I'm not a guru, not a market wizard nor a famous author - just a day trader who trades Forex for a living. One of the main struggles every new trader faces is to fish out the real information from the ocean of promises, uneducated statements and all around miss-information that goes around the internet. Today you've come to the right place. Here, you will find out EXACTLY how real traders trade the market.
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- Are you suspicious about the so-called "mentors" showing off their wonderful systems but you never see them trading it live?
- Have you spent a fortune on "magical" systems that look promising on cherry-picked historical charts but didn't live up to what you expected it to do in real time?
- Are you fed up of buying courses and being shut off from support or updates, being left alone in front of charts with a system you can't really understand?
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