Home Add to Favorite Contact Submit  
             29 March, 2024
 

    
Category:  Articles » Finances » Currency-Trading

 

Forex Trading - The Only Indicator You Will Ever Need To Know Your Entry And Exit Signals

Popularity:
         Views: 2063
2007-01-30 23:56:47     
Article by Peter Lim

Is your charting interface of your forex trading platform all littered with indicators, and you are feeling the increasing stress of forex trading? Truth be told, many forex traders spent countless hours in front of their trading screens, awaiting the onset of a trading signal...to enter or to exit at the proper time and to make the best profits. No wonder, they continue to feel the stress that comes with trading the markets.

In the quest to ensure every single movement is tracked, many traders have put in indicator after indicator on their charts. I have seen trading charts that are full of indicators so that by the time the trader has gone through all those indicators, the price would have moved on, away from their entry price, and they would have missed the sweetest part of the move.

Depending on how you wish to trade, there are three major trading setups in forex trading that you can consider:

1. Trading the breakout of a consolidation trend or a trading pattern such as a rectangle, a pennant, a flag, an ascending triangle or a cup-with-a-handle pattern.

2. Trading with the trend - this occurs when you can put in a selling order when the trend has changed from uptrend to downtrend, and to reverse the order when the trend has changed from a downtrend to an uptrend. Many times, there are continuation moves where shorter trends occur within long uptrends and downtrends (called counter trends) where there are opportunities to trade with good prospects of profitablity.

3. Trading the tops and bottoms - this occurs after a trend is exhausted, and the forex trader will be watching his chart for W and V bottomming patterns, or a reverse head and shoulder pattern or an inverted hammer. or gravestone doji candlestick pattern and so on.

The question is, with the need to monitor all these moves, won't it be a forgone conclusion that the forex chart be invariably clutterred with indicators?

This is where trading systems come into play. A selection of the correct indicators acting together in synergy to tell you with a reasonable confidence the trend direction will be sufficient for most purposes of trading.

But the most powerful of these trading systems is a good understanding of price movement in forex trading.

Experience professional traders have been trading the forex markets by tracking essentially nothing else but PRICE, making price an indicator by itself.

Why, some argue, would you want to watch another indicator such as bollinger bands or stochastics when it is a mere representation of price in another form?

Indeed, if you wish to be free from the countless indicators and be an expert on price movement, then it is necessary to consider adopting a price driven forex trading method, where you are free from any type of indicators, support or resistance levels, moving averages, pivots, oscillators, fibonacci, trend lines or ANY other trading tool you can think of.

Won't it help you to only need to concentrate on the price of the currency pair and a time element?

The benefits are immense - and the chief among them all is the ability to know the best time of entering and exiting your trade, and to ride the sweetest part of the move to success in forex trading.

So, simplify your trading charts, adopt a price driven forex trading method and accelerate your winnings.

Specialized in: Indicator - Ever Need - Entry - Exit Signals
URL: http://1forex-trading.blogspot.com
Print article      Bookmark this page
Related Articles 
Best Secured Credit Card Deal - Beware (Popularity: ): Why you should beware of a best secured credit card deal today? If you have been in the credit card market for quite a while and know how the credit industry has evolved and modified in many positive and negative ways, the answers are simple. When you do not have a clue of the ins and outs, it becomes unforgettable to many hard working consumers when they deploy their money ...
Beginner Traders Information on Futures Index Trading (Popularity: ): In 1982 the Chicago Mercantile Exchange brought out the S&P 500 and the life of an index trader was possible. You could buy or sell the equivalent of the 500 largest capitalization stocks in the country, stocks on the New York Stock Exchange, on the American Stock Exchange, on the Nasdaq stock exchange all in one index of 500 different issues. This index was composed of big corporations, utilities, and ...
Day Trading Having "No Fear" to Take the Next Trade (Popularity: ): If you can master this single element, taking the next, the next and the next trade, you will be ahead of 99% of all traders. Having the discipline to repeat your proven strategy, day after day, is the single most important facet of successful trading."When it comes to trading, your fears will act against you in such a way as to cause the very thing you are afraid of to ...
Foreign exchange calculator can make your life easy (Popularity: ): The currency of each country in the world is unique and its value keeps on changing depending on its economy. An individual planning to buy, sell, do a money transfer or perform any transaction to other country of the world, is required to understand foreign currency rates. Due to advanced technologies and tremendous expand in international trades; the foreign currency exchange (forex) market has become very vast and unpredictable. People ...
Beginner Day Traders - Easy Money? (Popularity: ): In day trading you are pitting your wits against every other person in the market. Every dollar you make is on the back of someone else's losses.Every losing trader has failed at trading. Every successful trader has also failed at trading in their past.It is a very rare individual that can make money off capital loaned - the psychological influences will handicap you.Day trading is extremely risky. It's simply unrealistic ...


Related Business 
FinRise (Popularity: ): FinRise provides Free Trading Signals. Buy/Sell Signals. Forex traders using our free forex signals with specific entry and exit. You can find a lot of useful information, which can help you to achieve profit goals in the Forex market. Use it in your trade! Forex forecasts, technical analysis, forex signals.
Forex O Clock: Free Forex Signals (Popularity: ): ForexOClock provides Free Live Forex Trading Signals online by Top Traders. To receive a Free Forex Trading Signals open a Free Trading Forex Account. Our product has been reviewed by different sites and critiques. When we find one of those reviews we gladly read it, use it to improve our business when necessary and then post it on our website so that all users can read it.
Forex Trading Signals (Popularity: ): Automated forex trading signals with pay for profits options. Our company provides forex trading signals with auto execution. Signals can also be sent via free SMS and Email alerts. We offer monthly and pay for profits subscriptions. Major currency pairs are available for trading (eurusd, gbpusd, usdjpy and many more). The group of professional traders works hard to generate profitable fx alerts for customers around the world. Our signals always ...
Best Forex Trading Signals (Popularity: ): Forex Signals via sms and emails. We provide best Forex signal services in currency and commodity pairs.We offer free forex signal, forex alert, fundamental and technical analysis, real time forex news, charts, forex tools.
The Bay Full Of Yummy Pips (Popularity: ): At PipsBay.com you can buy Forex Signals which will suit your trading style. Our Forex Signals are easy to follow and you do not have to be genius to use it. With our signals you will never again have negative trading week.
Forex Signal Providers (Popularity: ): Take advantage of our profitable forex alert by sms to gain an edge in your forex trading. Our Daily Forex Trading Signals comes from team of Professionals Fx Traders who are monitoring the forex market for a high probability trade.
Forex Online Signals (Popularity: ): We will provide you forex online trading signals, which will help you succeed in the forex market. Our fx trading signals will keep you updated with the changes in the market in real time.
Vladimirs Forex Signals And Mentoring (Popularity: ): Vladimir’s Forex Signals Service provides 4 sources of laser-accurate signals, trade copiers, live trading room, daily market reviews, educational webinars, shared member’s real account and free MT4 programming and more…
Forex Trading Reviews (Popularity: ): Forex trading reviews of forex brokers, forex trading guide, easy forex trading strategies, best forex trading system and forex currency trading system that helps new traders learn how to manage forex transactions and many more.
Forex Trading for a Good Living (Popularity: ): Join the ultimate Forex Newsletter and Forex trading community to Help you rapidly accelerate your forex success... Discover your own forex trading strategies, your own forex trading systems