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CHART PATTERN

Chart patterns can be classified into two categories. One category is considered a reversal chart pattern. A reversal chart pattern gives advance warning about an impending change in trend. The other category is a continuous chart pattern. continuous chart patterns predict that price will resume its previous movement once the continuous pattern is over. A continuous pattern can be considered a pause in price direction, after which the price will resume its movement again.

Double Top

Quantcast

What does the double top pattern look like?

As this is a reversal pattern that occurs towards the end of an uptrend, there must be an uptrend in place before we can even talk of a double top forming on the chart. A double top pattern consists of two well-defined peaks at approximately the same price. The price will rise to the first peak, then decline to a support level before embarking on another rally to the second peak. As the price is unable to surpass the previous high, it will retreat lower, and once the price breaks the support from the first decline, we will have a break of the support from first decline, we will have a break of the support line. Once the support line is broken, we will have a confirmed double top pattern.

How do you trade this pattern?

This pattern is confirmed once the price breaks below the support (neckline) line. You can wait for the break of support(neckline) to sell. Once the price breaks the support(neckline) you can short the currency pair. If you miss the break, you can wait for a pullback in price back towards the previous support(neckline) line to short. Once you have a short position as the price is not expected to move above the previous support line again, you should place a stop loss just above the previous support line. The price target for this patter is the h eight of the peak to the support line.

Double Bottom

Quantcast

What does a double bottom look like?

A double bottom is the direct opposite of a double top pattern. This bottom reversal pattern would occur at the end of a downtrend.

How do you trade this pattern?

Once the price has managed to move above the resistance(neckline) line, you will try to buy into rally. If you miss the first opportunity, a better alternative than chasing the market will be to wait for the pullback to the resistance(neckline) turn-support line. A double loss should be placed below the support line. The calculation of the price target is the same as for a double top pattern

Head and Shoulders


What does a head and shoulders pattern look like?

A head and shoulders pattern, as the name suggests, looks like a human head with shoulder on either side of the head. The first point – the left shoulder-occurs as the price in a rising market hits a high and then falls back. The second point – the head – happens when price rises to a higher high and then fall back again. The third point-the right shoulder – occurs when price rises again but fails to hit the high of the head. Price then falls back again. The shoulders are definitely lower than the head, and in a classic formation, are often roughly equal to one another. The neckline is formed by drawing a line connecting the two low price points of the formation. The neckline can be horizontal or it can slope up or down. Once price breaks the neckline, a head and shoulders pattern is confirmed. This is a top reversing pattern.

How do you trade this pattern?

When the price breaks the neckline, this is the time to short the currency pair. If you miss the first opportunity, you should wait for the price to pull back to the neckline to short the currency pair. When you have a short position, you should place a stop loss just above the neckline, as price should not move above the neckline again. The price objective is a height from the head to the neckline. You should subtract from the neckline the height of the head to the neckline to obtain the price target for this head and shoulders pattern.

Inverse Head and Shoulders 5 Votes Quantcast

Quantcast

What does this pattern look like?

This pattern is actually the inverse of the head and shoulders pattern. This is a bottom-reversing pattern. The neckline can be horizontal of it can slope up or down. Once the price break the neckline, the inverse head and shoulders pattern is confirmed.

How do you trade this pattern?

Trading this pattern is similar to the head and shoulders pattern. You should wait for the price to confirm the pattern when it breaks above the neckline. Once the price breaks the neckline, you should enter into a long position. If you miss this opportunity, wait for the price to pull back to the neckline to enter into long position. You should place a stop loss just below the neckline. Your price-measuring objective is the same as for a head and shoulders pattern.

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Maklumat Deposit/Withdrawal dan berita FOrex4You

Salam kepada semua trader: Kami Ingin mengajak anda untuk bersama kami berjaya dan merasai bagaimana menjadi usahawan Forex yang berjaya dalam broker kami yang baru iaitu Forex4you..Banyak keistimewaan yang bakal anda impikan apabila anda bergerak bersama kami.. Kami memberi hanya 2pip spread di EU, platform mesra ROBOT dan akan menyajikan anda dengan leverage 1:500.. Broker yang baik sudah kita rasai.. Skang Broker yang terbaik telah tersedia... Jom kawan2.. kita berhijrah...

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Friday, 26 February 2010 ( 11.00AM )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3650 / 1.3700, sebelum tu retrace sedikit. Risk 1.3400. 'trendline'

GU = Jangkaan ke 1.5370 / 1.5440, sebelum tu retrace sedikit. Risk 1.5100. 'trendline'

UCHF = Jangkaan ke 1.0720 / 1.0690, sebelum tu retrace sedikit. Risk 1.0850. 'trendline'

UJ = Jangkaan ke 89.90 / 90.33. Risk 88.00. 'trendline'

EJ = Jangkaan ke 122.50 / 123.50. Risk 119.00. 'trendline'

GJ = Jangkaan ke 138.30 / 139.40. Risk 134.00. 'trendline'

UCAD = Jangkaan ke 1.0530 / 1.0500, sebelum tu retrace sedikit. Risk 1.0700. 'trendline'

AU = Jangkaan ke 0.8930 / 0.8970, sebelum tu retrace sedikit. Risk 1.8720. 'trendline'
Posted by at No comments:

Monday, 22 February 2010 ( 12.00pm waktu indonesia barat )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3720 / 1.3800, sebelum tu retrace sedikit. Risk 1.3400. 'trendline'

GU = Jangkaan ke 1.5570 / 1.5640, sebelum tu retrace sedikit. Risk 1.5300. 'trendline'

UCHF = Jangkaan ke 1.0720 / 1.0670, sebelum tu retrace sedikit. Risk 1.0850. 'trendline'

UCAD = Jangkaan ke 1.0350 / 1.0300, sebelum tu retrace sedikit. Risk 1.0570. 'trendline'

AU = Jangkaan ke 0.9060 / 0.9080, sebelum tu retrace sedikit. Risk 1.8850. 'trendline'
Posted by at No comments:

Wednesday, 17 February 2010 ( 12PM )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3830 / 1.3900, sebelum tu retrace seketika. Risk 1.3500. 'trendline'

GU = Jangkaan ke 1.5840 / 1.5880, sebelum tu retrace seketika. Risk 1.5500. 'trendline'

UCHF = Jangkaan ke 1.0620 / 1.0560. Risk 1.0850. 'trendline'

UJ = Jangkaan ke 90.60 / 90.91. Risk 89.00. 'trendline'

EJ = Jangkaan ke 125.00 / 125.80. Risk 122.00. 'trendline'

GJ = Jangkaan ke 143.00 / 143.90. Risk 140.00. 'trendline'

UCAD = Jangkaan ke 1.0400 / 1.0360, sebelum tu retrace seketika. Risk 1.0570. 'trendline'

AU = Jangkaan ke 0.9060 / 0.9120, sebelum tu retrace seketika. Risk 1.8800. 'trendline'
Posted by at No comments:

Tuesday, 16 February 2010. ( 10.00AM )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3670 / 1.3710. Risk 1.3500. 'R.shampoo H4 + trendline'

GU = Jangkaan ke 1.5770 / 1.5830. Risk 1.5500. 'trendline'

UCHF = Jangkaan ke 1.0720 / 1.0700. Risk 1.0850. 'Shampoo + trendline'

UJ = N/A

EJ = Jangkaan ke 122.90 / 123.10. Risk 121.00. 'trendline'

GJ = Jangkaan ke 141.70 / 141.90. Risk 140.00. 'trendline'

UCAD = Jangkaan ke 1.0430 / 1.0400. Risk 1.0570. 'trendline'

AU = Jangkaan ke 0.8940 / 1.8980. Risk 1.8800. 'trendline'
Posted by at No comments:

Wednesday, 10 February 2010 (4pagi)

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3850 / 1.3900. Risk 1.3600. 'trendline'

GU = Jangkaan ke 1.5780 / 1.5820. Risk 1.5500. 'trendline'

UCHF = Jangkaan ke 1.0600 / 1.0530. Risk 1.0800. 'trendline'

UJ = Jangkaan ke 90.00 / 90.30. Risk 88.00. ‘trendline ‘

EJ = Jangkaan ke 124.17 / 124.70. Risk 122.00. 'trendline'

GJ = Jangkaan ke 141.90 / 143.00. Risk 138.00. 'trendline'

UCAD = Jangkaan ke 1.0625 / 1.0570. Risk 1.0820. 'trendline'

AU = Jangkaan ke 0.8880 / 1.8930. Risk 1.8600. 'trendline'
Posted by at No comments:

Monday, 08 January 2010 ( 2.30PM )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3725 / 1.3820. Risk 1.3500. 'trendline'

GU = Jangkaan ke 1.5740 / 1.5790. Risk 1.5400. 'trendline'

UCHF = Jangkaan ke 1.0660 / 1.0630. Risk 1.0900. 'trendline'

UJ = Jangkaan ke 90.00 / 90.30. Risk 88.00. ‘trendline ‘

EJ = Jangkaan ke 123.00 / 123.70. Risk 121.00. 'trendline'

GJ = Jangkaan ke 141.00 / 141.80. Risk 137.00. 'trendline'

UCAD = Jangkaan ke 1.0625 / 1.0570. Risk 1.0820. 'trendline'

AU = Jangkaan ke 0.8740 / 1.8790. Risk 1.8600. 'trendline'
Posted by at No comments:

Tuesday, 2 February 2010 ( 1.00PM )

Bismillahirrahmanirrahim...
"Ya Allah, kami memohon kepadamu ilmu yang berguna, rezeki yang luas dan kesembuhan dari segala rupa penyakit."

Siapa yang membiasakan membaca zikir dan berdoa selesai solat lima waktu, khususnya sesudah solat Jumaat, maka ia dijaga oleh Allah dari semua yang ditakutinya, dibantu dapat mengalahkan atau melemahkan musuhnya. Diberi kekayaan dan kecukupan, diberi rezeki dengan tak terbilang dan tak terkira datangnya serta dipermudahkan penghidupannya sehingga dapat membayar hutangnya sekalipun mempunyai hutang seperti gunung...


EU = Jangkaan ke 1.3960 after that drop to 1.3850. Risk 1.4100. 'trendline'

GU = Jangkaan ke 1.6010 / 1.6060. Risk 1.5800. 'trendline'

UCHF = Jangkaan ke 1.0550 after that up to 1.0620. Risk 1.0500. 'trendline'

UJ = Jangkaan ke 90.40 / 90.20. Risk 91.00. ‘trendline ‘

EJ = Jangkaan ke 127.10 / 127.50. Risk 125.00. 'trendline'

GJ = Jangkaan ke 145.60 / 146.00. Risk 143.00. 'trendline'

UCAD = Jangkaan ke 1.0570 / 1.0530. Risk 1.0720. 'trendline'

AU = Jangkaan ke 0.8850 / 1.8870. Risk 1.8600. 'trendline'
Posted by at No comments:
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Forex Tips:

Tip 1. All unproved, spontaneous actions in Forex trading — are a part of pure gambling.Any attempt to trade without analysis and studying the market is equal to a game. Game is fun except when you are losing real money... Tip 2. Never invest money into a real Forex account until you practice on a Forex Demo account! Allow at least 2 month for demo trading. Consider this: 90% of beginners fail to succeed in the real money market only because of lack of knowledge, practice and discipline. Those remaining 10% of successful traders had been sharpening and shaping their skills on demo accounts for years before entering the real market.A good demo account to start practicing with could be, for example, FXGame Tip 3. Go with the trend! Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals. Tip 4. Always take a look at the time frame bigger than the one you've chosen to trade in. It gives the bigger picture of market price movements and so helps to clearly define the trend. For example, when trading in 15 minute time frame, take a look at 1 hour chart; trading hourly would require obtaining a picture of daily, weekly price movements. If a trend is hard to spot — choose a bigger time frame. Up and down market patterns are always present. Always make sure you know the dominant trend, unless you are a scalper. Scalpers have no need to spend their time studying big trends, what's happening in the market here and now (during 5-10 minute time frame) should be of only importance to a Forex scalper. Tip 5. Never risk more than 2-3% of the total trading account. One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable conditions on the market, while an unsuccessful trader will blow up his account after 5-10 unprofitable trades in the row. Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance. Tip 6. Put emotions down. Trade calm. Don't try to revenge after losing the trade. Don't be greedy by adding lots of positions when winning.Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks. Tip 7. Choose the time frame that is right for you. Choosing wise means that you are comfortable and have time enough to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames. On the contrary, for others 10-15 minutes is a hustle to be able to make the right decision.

7 Tips to become a Master Forex Trader

1- Learn the basics before you start trading. 2 - Make sure you paper trade for at least 6 months before you trade on a demo account. 3 - Ignore all the hype about miracle systems especially those who promise to work without any work at all. Successful traders work hard to reach success. 4 - Read everything you can about Forex. Education is power especially on a challenging market like this. 5 - No matter how good you think you are, keep learning all the time. Forex changes fast and you need to be prepared to face the unexpected. 6 - Start by trading just 1 or 2 currencies at a time. Most professional traders are just trading a couple of currencies at a time, so don’t try to trade 10 or 20 currencies at once. 7 - Make sure you give your best to control risk. Every trader has losing trades and lousy weeks. Make sure you have good risk management rules in place to avoid lose your entire account. Day Trading Vs Swing Trading Which is the best way to make money on Forex? Day trading or swing trading? Both methods have advantages and disadvantages. Usually beginners think they can day trade or swing trade, but they can trade both. Day trading takes much more time and dedication than swing trading. Day traders need to be highly informed and stay on top of the markets all the time. They need to trade for at least 4 hours a day, so if you have a full time job, it would be difficult to master day trading. Swing traders usually base their trades on daily charts. So, they can trade on part time. Swing traders tend to trade for the larger movements on the market, so on a single trade they can make good profits. Day trade and Swing trade can be highly profitable. You simply need to decide what best suits your personality and schedule and then do it. My Tips Trading Here is a quick answer about how I trade. I use true support and resistance, Fibonacci's and Dynamic Trendlines. For day trading I only use the 15 minute and 1 hour charts. For my swing trading I only use the 4 hour and daily charts. When day trading I do not think about or use my swing trading rules and when swing trading I don't think about my day trading at all. In fact I have two separate accounts. Everyone who does both types of trading should have two accounts

The best times to trade Forex

If you’re looking to trade Forex you need to know when can you expect the best opportunities on the market. The Forex market is open 24 hours a day, but since you can’t watch the market everytime, it pays to know when you can usually find the most volatility. First you need to know if you want to day trade or swing trade Forex. If you’re looking to day trade Forex, you need to use an intraday chart (usually a 5 or 15 minutes chart) to watch the market. While the market is open 24 hours a day, it doesn’t offer opportunities during the entire day. The best Trading periods are: 1 - The European Session The European session (7am-5pm GMT) is a great session to trade most of the currency pairs. If you’re looking to trade the EURO, the GBP, the CHF or the USD, you can be successfully during the European session. 2 - The US Session The US Session (13 GMT- 21 GMT) is another good trading session especially for EUR/USD, GBP/USD, USD/CHF and USD/CAD. You can trade any currency pair successfully during this time session, especially between 13 GMT until 18 GMT. 3 - The Asian Session The Asian session is not as good as the European and the US sessions, but it’s a decent session to trade if you want to trade the JPY. If you’re looking to swing trade Forex, you can use daily charts. By using daily charts you can just check your chart during the rollover period (around 22 GMT, but depends from broker to broker) and take your decisions.

Why most people are wrong about Forex

In Forex there are 2 types of persons: those who think this market is the perfect way to get rich quick, and those who think it’s impossible to make money on Forex. I believe both groups are completely wrong. The people that take Forex as a get rich quick scheme usually end up by losing their money really fast. These people tend to use too much margin and they usually don’t look to educate themselves or learn much about this market before they start trading. When they finally lose their money, they tend to become part of the opposite group of people: those who believe it’s impossible to make money on Forex. This second type of people are usually ex Forex traders that lost money and instead of taking the responsibilitfory their actions, they decide to blame their broker, their system or simply the entire market. Guess what, these people are wrong too. On Forex or any other market, traders need to work hard and practice before they trade. This is a challenging game and unless you work hard on it, you probably won’t succeed. When something goes wrong, you need to find out why weren’t you successfully and what can you do to improve your trading. Forex: To Trade or not to Trade… Forex is definitely one of the most challenging financial markets in the world. This market brings unique opportunities and risks, so you need to take some time to think on the pros and cons before you decide to start trading Forex. Forex Trading Advantages: * Forex brokers offer you as much as 200x leverage (and some brokers even offer you 400x leverage). With a 200x leverage you can basically trade up to $100000 with just $500 on your account. With this, Forex allows anyone to start trading with a small account and make good money at it. * Forex market is open 24 hours a day from Monday to Friday so anyone can trade Forex no matter where they’re located or when do they have some time to trade. * Most brokers offer free demo accounts which allow anyone to lear how to trade and to practice without risking any money. * Liquidity is another Pro on Forex. Since trading volumes are huge you can execute your order instantly during regular market conditions. * Since you can trade Forex anywhere and when you want to, if you’re successful on Forex you can live anywhere and make thousands a month. Not many business offer you such a flexibility. Forex Disadvantages: * The leverage is also a negative point on Forex. With such a huge leverage people can definitely double their money on the short term, but they can also lose their money fast. * Forex is definitely a high risk market. Most people that start trading Forex lose money. So you need to be aware that this is a difficult market to make money consistently. * Forex Scams: While there are Scams in any market, the Forex market tends to be particularly mined with Scams. Some brokers aren’t regulated and simply disappear with customers money and you can see hyped systems and programs just everywhere. It pays to be particularly careful when you decide to buy anything on Forex.

What to do if you’re losing money in Forex?

If you’re losing money in Forex, the best thing you can do is to stop trading and return to the basics. Make sure you find out why you have lost money. Was it your broker excessive slippage, or your trading system that suddenly stop working? What can you do to solve this problem and start making some money? These are a couple of the questions you need to ask yourself and find out the answers. In my opinion, the first thing you need to do to solve this issue is to analyze your most recent trades. Did you follow the exact rules of your system? What was your state of mind at that time? Were you stressed out? Usually, when you let your emotions get involved in your trading, problems begin to rise… The thing you must avoid doing is to feel sorry about yourself or get depressed… This won’t take you anywhere. Just think about your most recent trades in a rational matter. Be objective… This is the way professional Forex traders deal with their losing strikes and their emotions. Why is so difficult to make money on Forex… Forex is probably the most challenging financial market in the world. Here are some of the reasons that make this market so difficult: 1 - The market is open 24 hours a day. This is probably the biggest problem to solve. You can’t stay on your computer 24 hours a day watching the Forex market. You can stay an entire day waiting for an opportunity that only arises when you’re sleeping… 2 - The leverage: Most brokers offer you the opportunity to trade 200 or even 400 times your money! That might appear a great thing, but it’s currently one of the biggest reasons that explain why most beginers lose most or all their money on just a few months. Leverage allow you to double your money on a single trade, but it also allows you to lose your entire account with a single mistake. 3 - The “Get Rich Quick” schemes. Forex is one of the markets where sellers promise everything and usually deliver nothing. Every system developer or seller promise you the opportunity to make a fortune without much effort. Unfortunately, the only way you have to make a fortune on the short term is by taking huge risks. Avoid those get rich quick schemes and you’ll increase your odds of making money on Forex. 4 - Complexity of the market. On Forex there are several economic releases every day. You need to stay on top of all these releases in order to know how to act, and trade effectively.

7 Mistakes you must avoid on Forex

1 - Never think in forex as a get rich quick opportunity. This market is difficult and risky, and you need to take the time to learn it before you start making money in forex. 2 - Beware with all the “Automatic Systems” that promise to make a fortune overnight. Most of these systems don’t work, and that’s why they sell them in the first place. 3 - Before you buy any system or course, make sure you make a good research about it. There are some good products on the market but most products are a waste of time and money. Visit regularly Forex reviews websites so that you know what are people talking about each product. This will save you time and money. 4 - Beware with unregulated brokers or those that trade against their customers. Make sure you’ll be able to withdraw your money when you want to before you decide to send money to any broker. 5 - Don’t ignore your results and never blame the market for your losses. The market is always right, and if you lost money than you done something wrong, not the market. 6 - Don’t try to test multiple systems at once. Test 1 or 2 different systems at a time to avoid all the confusion that happens when you test plenty of different systems at the same time. 7 - Don’t try to trade plenty of different currencies. Each currency has a different personality, so if you try to trade 10 different currencies at once, you don’t even know how each currency trades. Try to trade 1-4 currency pairs. How to be a Successful Forex Trader If you’re looking to be a successful Forex trader, you need to work on it and have patience. You can’t expect to start trading today and make a fortune in 1 year. You need to learn how this complex market works and practice on a demo account. You need to find what type of trader you are. You can be a day trader or a swing trader. You need to learn good strategies and develop your owns. Other good idea is to keep a trading diary so that you can take notes on all your trades and on the rules that made you trade a specific currency. To make money in Forex you’ll need time and patience. Don’t try to make a fortune overnight because it won’t happen. And remember: think on your own. Avoid all the gurus and their profecies because in the end you’r ethe best person to manage your own money. What’s The Best Time Frame To Trade Forex? A common question for beginners is which time frame should they use. Should they trade in 5 or 10 minutes charts, or in 1 hour charts? The rule is that the longer the time frame, the most reliable is the technical analysis. For example, if you’re trading on 1 hour charts using the same strategy as another trader that uses 1 minute charts, your signals will be much more accurate. You’ll get less signals but better quality signals. If you’re looking to swing trade Forex, you should use daily charts or 4 hours charts. If you’re looking for day trading you can use 5, 15, or 60 minutes charts. You can also combine different time frames so that you can know the short term trend and the long term trend. In that case, you can use for example a 1 hour chart to know the trend, and a 15 minutes chart to fine tune your entry and exit points.