Forex Traders Blog & Newsletter

Daily period shows one pertinent retracement. The Fib. lines begin at point A low on 11/21/05 @ 1.7064. This price low coincides with the RSI low shown on the chart. The Fib. 100 line commences at this location and moves to the RSI and price high on 5/7/06, @ 1.8641, point B on the chart. (more…)

www.metatradertools.com

Deadly Trading Mistakes: Jack Cahn CMT

First of all, it??™s worth noting that you can more or less avoid all of these mistakes by harnessing the power of mechanical trading systems. Automation on a stable platform can produce some amazing results and cut down on a lot of the factors that keep traders from being truly successful. (more…)

www.metatradertools.com

How To Use The Rule of Alternation

The market always programs you to do just the opposite of what you should be doing! By analogy in baseball it would go something like this: You??™re at the plate, bases loaded with two outs. The pitcher has thrown you two fast balls and you are down two strikes. The next pitch is the change up which “catches you looking” for the fast ball.
Three strikes and you are out of there. It is no different in system’s trading or any other type of trading and in life in general. (more…)

By Daryl Guppy ?©
www.guppytraders.com
Author Market Trading Tactics, Better Stock Trading, Trend Trading

The Guppy Multiple Moving Average (GMMA) indicator tool is based on the relationships between groups of moving averages. Each group of averages in the GMMA provides insight into the behavior of the two dominant groups in the market - traders and investors. The indicator allows the trader to understand the market relationships shown in the chart and so select the most appropriate trading methodology and the best tools. The GMMA is designed to understand the nature of trend activity on an end of day, or intraday basis. (more…)

www.metatradertools.com

So how do you design a system. Well, the first step is to put the structure in place. By this I mean the aim of your system. What do you want it to do. Do you want it to catch trends? Do you want to trade ranges? How much risk do you want to incur? What success ratio are you looking for? (more…)

www.metatradertools.com

I recently recieved an email asking if our Trend Visualiser indicators worked on the recent Gold bull move. I have attached a 4 hour Gold chart showing the Trend Visualiser indicators using the daily and weekly timeframes to gauge trend direction. As you can see the major trend indicators show the bullish move. (more…)

I wrote on Monday ” A second test and a break through of these levels could see the pair show the direction needed for traders to have the confidence this is a potential major bullish trend direction in the making. Eyes will be on the key fibonacci level ahead“, well the week finished with the Cable muscling right past the first key .382 level and poised to tackle the 618 downleg retracement over the next week. (more…)

www.metatradertools.com

Today Monika Kozec shares some of her thoughts on the importance of “The Mind” in the trading game and her methods of warding of the demons (more…)

www.metatradertools.com; chris@metatradertools.com

The GBP/USD Pair remained stable on Friday with the support level shown on Fridays post holding for the meantime. A fibonacci expansion takes our first target to the daily and weekly Fibonacci resistance levels again. A second test and a breakthrough these levels could see the pair show the direction needed for traders to have the confidence this is a potential major bullish trend direction in the making. Eyes will be on the key fibonacci level ahead. The monthly has just turned Bullish along with already bullish readings from the Daily and Weekly MACD X predictor which may give an indication of the way this pair is set to move.

4 Hour GBP /USD Chart

Click to Enlarge

www.metatardertools.com

www.Metatrader-Tools.com; chris@metatradertools.com

The much anticipated breakout of the cable provided a Easter Monday gift for Traders reaching the second of the major fibonacci levels of 61.8% resistance by Wednesday. Chart 1 show the weeks play on a daily basis with todays (Friday’s) close being watched to see if the weeks gains can be held. The fibonacci expansion levels were meet during the week with the pair taking out the major XOP expansion on its way to the 618 resistance. (more…)