ECONOMIC CALENDAR IS VERY USEFULL!!

Economic Calendars For Forex Traders

Links to good economic calendars for the forex market.

It is best to compare the figures on a few calendars as substantial differences can occur in consensus.

Daily FX Economic Calendar

Forex News

Today FX

Forex Factory

The London Forex Blog

You need technical analysis and fundamentals to trade currencies profitably.There is a need to understand the basics of economics so you can think for yourself and learn who the market participants are and which reports and statements drive the market.

It is important to know exactly when these announcements will be made so you can take advantage of the big moves that follow or avoid losing through a sudden surprise reaction.Economic calendars show in advance what time the economic data release will take place.Before a trade is taken, we look at an economic calendar for opportunities and threats.

If traders are expecting an interest rate to rise and it does,there usually will not be much of a movement because the information will already have been discounted by the market.However, if the interest rate does not rise as expected, then the market may react violently.

IN10TION NewsReader v09.84

Auto updates: every 30 minutes! When there is news it will update every 30 seconds till it retrieves the news actual value. Very easy rite??

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MT4 DASHBOARD

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GOLD MINOR EASY INDICATOR!

Once you set up the goldminer1 & goldminer2 like above on the 1 hour chart or above you are looking for the signals which are as follows :

RED + PURPLE ARROW = SELL
BLUE + YELLOW ARROW = BUY

How you exit will be determined by which timeframe you are using, I suggest using the same TP and SL i.e 30 pips TP 30 pips SL

Goldminer1 Goldminer2 Link download

FUN INDICATOR

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TRO METERS

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Vynner Swing Technique

This is another 4H technique i used before I’ve found my own swing technique. This technique and tlatomi trading method had gave valuable contribution to the development of my own swing technique.

I take “Vynner” from the name of the person who originally created and published this technique. Since June 2006 it gives 250 pips a month in average. Since this is a swing technique, it will only give one or two trade a month.

What interesting me at the first time i read this technique was that it use 50 pips stop. While each trade potentially gives more than 100 pips profit. What a good risk-reward ratio.

Below are Vynner Swing Technique details:

Things you need:
1) Daily Chart on GBP/USD
2) 4 hours Chart on GBP/USD
3) Slow Stochatics (13,5,5) on both charts
4) EMA 4, EMA13, EMA50 on the 4 hours chart

Look at 4 hours chart
Entry:
When the EMA4 first cross the EMA50 follow by EMA13 cross the EMA50, with a new open candle, place your entry with a stop loss of 50pips.
Exit :
When EMA4 reverse and cross the EMA13 on the next open candle.

For Filter look at Daily chart
Valid Long Entry:
Slow %K above Slow %D on the Daily Chart
Valid Short Entry:
Slow %D above Slow %K on the Daily Chart

This technique work best on GBP/USD.

Below picture showing valid Long Entry

Below picture showing valid Short Entry

Forex Basic

One of the most important strategies in trading with foreign currencies is to always place your Stop-Loss Order when you start trading. This type of order minimizes your risk and exposure. It is usually set at a rate a little lower than the current rate.

You should also know how to take Profit orders using the One Cancels Other Order (OCO). This is like a sidebar on your trading order wherein in case one part of your order is cancelled, the other order is implemented. It is an order that works hand in hand with the Stop-Loss Order, and is based not on a whim but on technical data analysis.

As a beginner, you should also delve into the Positive Risk/Reward Ratio. This is a figure you should establish prior to trading any currency. What it does is establish controls on what you are ready to lose against what you expect to gain.

Ultimately, any success you will have with Forex trading online will rely heavily on your patience. Although it is possible to make a quick buck with online Forex trading, you cannot rely on a hit and miss method. Learning the intricacies of the business and keeping your research updated is a better strategy than relying on hunches. Online Forex trading can only be profitable in the long term if you exercise discipline and perseverance. Learn the basics and keep studying it. The work never ends and just like any other business that endures, your knowledge will be the backbone of your business. it is a dynamic business, almost totally dependent on world trends and news.