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Tools of The Trade - Preparing to Trade

To trade Forex successfully you will need the basics: A reliable, reasonably fast computer, preferably with high speed access to the internet (DSL or Cable Modem for example). An Internet dial-up account or the telephone becomes your back-up should your primary access fail. Good foreign currencies

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Gold Versus Dollar

Gold Versus the DXY Similar to 2005 when both instruments rallied together. Re-monetization of gold in effect while risk aversion theme drive. Gold is not just in a long-term uptrend in USD terms. Recent breakouts have been registered in USD, EUR, CHF and CAD terms. Monetization theme: gold is

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Forex Market – Trading on the news / market event

When it comes to reacting to data reports and market events, the forex market typically displays two responses. The first reaction is a short-term, knee-jerk price response to the data report or news itself, which is where most of the intraday fireworks in the forex market go off. The second

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Trading on the Fundamentals

Understanding the fundamental drivers of currency rates is the foundation of grasping price movements. Here are some suggestions: Get to know the major economic data reports from all the major economies. Understand the importance of expectations versus actual outcomes. Anticipate alternative

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Pivot Points - Online currency trading

Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can be an effective trading tool. Pivot points are calculated using the high, low

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Highs and lows

After trend lines, markets tend to place the greatest amount of emphasis on period highs and lows as points of support and resistance. You can pinpoint support or resistance levels from highs and lows by simply noting the price high or low, but give yourself a few pips of latitude (5 to 10 pips)

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Trend lines

To determine support and resistance levels that correspond to the trend lines you’ve drawn, you simply need to place the cursor of your charting system on the trend line at the current time period. your charting system should display the price value of the cursor placement on the right side of the