FOREX Training Course – lesson 2 : (The basic system)
June 14, 2009 | Author: admin | Category: forex course
This is a video overview of the system I use. Brilliant for beginners, and a guide to where to start trading in the FOREX market. It outlines how to pick high probability trading using MACD as a filter. I cover TC (Trend Continuation) & CT (Counter Trend) signal examples. My trading background is discussed together with how you might go about finding a system which fits your personality and lifestyle. 2
Duration : 0:10:56
Tags: analysis, Bootcamp, candlestick, channel, commentary, currency, DailyFX, dollar, Elliott, EMA, euro, farm, forex, fx, FXCM, GBP, gbp/usd, lesson, levels, macd, market, metatrader, momentum, mt4, NFP, non, pattern, payrolls, price, resistance, retracement, sion, SMA, smith, support, swing, trade, trading, trend, trendline, USD, volume, wave
June 14th, 2009 at 12:04 pm
I completely agree, …
I completely agree, lagging oscillators & indicators look great after the event, that is not what i’m teaching!
Candlestick patterns, how the market reacts around certain levels fibs / pivots / EMA’s is what i’m trying to show here.
Watch the video at the end I explain that the system works best in trending markets and that you need to identify what state the market is in before trading. It can be used in ranges, your stops and target must be much tighter.
cheers
June 14th, 2009 at 12:04 pm
No offence but I’d …
No offence but I’d still suggest people check it on DEMO first and not take anyone else’s word that it “works fine”. Systems like this are everywhere but no-one EVER seems to post any advance calls or trading blotters, it’s all retrospective results.
Like I already said it looks great on historical data but in a live market environment you’ll probably find it lags too much ie late entries, smaller targets, wider stops.
It’s up to you how you spend your money, I’m just warning you is all.
June 14th, 2009 at 12:04 pm
This system is well …
This system is well tested on Forex Factory. It works fine.
June 14th, 2009 at 12:04 pm
Lagging oscillators …
Lagging oscillators always look great after the event but aren’t a practical trading aid.
MA based indicators, like a lot of indicators, work fine in a clearly trending market but fail miserably in a ranging market.
For every entry signal that leads to a profitable trade you’ll find one that leads to a loss.
Anyone considering following this system would be strongly advised to test it thoroughly on DEMO first.
June 14th, 2009 at 12:04 pm
This is H4 time …
This is H4 time frame. MACD settings are
Fast EMA 5
Slow EMA 13
Signal SMA 1
June 14th, 2009 at 12:04 pm
I’m guessing this …
I’m guessing this is H4, what parameters do you use on MACD?
June 14th, 2009 at 12:04 pm
For chart setup see …
For chart setup see lesson 1.
Stop Losses (SL) and Target Profits (TP) are covered in lesson 3.