A new trading e-book has been uploaded to my site today. It’s Money Management and Risk Management by Ryan Jones. As the title of this book goes, it’s about money management — one of the most important parts of Forex trading (and not only Forex, but any other financial trading that involves risk and probability). The author wisely divides the money management into two kinds — the proper and improper money management. Where the first type refers to the one that always keeps in mind both the risk and reward parts of each trading action, while the improper tries to amplify the importance of only one of those to vital parts. Unfortunately, the majority of traders, especially newbie traders, that see the possibilities opened by the on-line Forex market and its huge leverage, fail to see the full picture and all the more so they can’t apply the proper money management to their trading strategy. But now you can download this book to learn more about the proper money management:

• Money Management and Risk Management

(...)
Read the rest of Money Management and Risk Management (18 words)

From now on every trader that opens a demo or real account with the eToro Forex platform will receive the first lesson from a professional Forex training course for free. To get the rest of the lessons of this course, trader just need to contact eToro via one of the available methods to get the information on how to obtain this course for free. I’ve browsed through the first lesson of the course and it seemed quite introductory to me (as it’s probably supposed to be). There are ten lessons overall and they cover the following topics:

1. Basics of Forex.


2. A quick guide to eToro’s revolutionized trading platform.


3. Fundamental analysis.


4. Technical analysis basics, charts, chart types, timeframes.


5. Trends, trend lines, support & resistance lines.


6. Fibonacci and pullbacks.


7. Popular indicators.


8. Breakouts and swing trading.


9. Trading examples.


10. Adapting technical analysis to commodity trading.

Looks quite interesting to me, especially the last topic since I’ve been trading commodities a lot lately. You can get more information about eToro and open account with this Forex broker.
(...)
Read the rest of Free Professional Forex Course from eToro (21 words)

Another MetaTrader expert advisor was added to my site today — MACD Pattern. It’s based on the MACD patterns (Moving Average Convergence/Divergence), specifically for EUR/USD H4 chart. It shows quite interesting back-test results but, unfortunately, has also two major problems. First, it has more than 27% maximum relative drawdown (that’s more than $6,000 drop during one moment). Second, it doesn’t explicitly control bar opening and uses stop-loss and take-profit levels, which means that the backtests aren’t very accurate and the resulting data should be treated very skeptically. But 60% profit over the course of less than 19 months is quite nice. Here you can see the test results graph (click to enlarge):

A strong drawdown can be seen close to the end of the test — its reason is unknown to me, but I guess it’s tolerable.

You can also view the complete testing report. Go directly to MACD Pattern expert advisor page to download this EA or get more information about it. If you don’t like MACD Pattern, you can check other MetaTrader expert advisors.
(...)
Read the rest of Expert Advisor Based on MACD Patterns (20 words)

Looking at the weekly chart of the EUR/USD currency pair it’s easy to say that it’s currently trading in some kind of a long term triangle pattern with the narrowing boundaries. Although, the upper boundary offers a strong resistance far below 1.5000 level, there is a high probability of the bullish breakout. Fundamental analysts talk about the inevitable dollar’s weakness that will come soon as the global economy starts to recover from the crisis. On the other hand, the U.S. dollar still remains a global reserve currency, while the euro still haven’t managed to gain the proper reputation, which suggest a bearish breakout in EUR/USD. And what do you think about it?

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.
(...)
Read the rest of Will EUR/USD Reach 1.5000 Before September? (23 words)

Trend indicators seem to be the most popular ones among the Forex traders. Indeed, Forex market is quite trendy and if a trader manages to catch this trend in its early stage and exit not long after the trend ends, considerable profit can be made. Today, a new free Forex indicator for trend detection was uploaded to my site. It’s quite accurate and shows where the trend starts and also where it ends; the zone without a trend is marked with a straight horizontal line, which also serves as some kind of support and resistance level. This indicator is easy to use but you should be aware of the fact that it’s redrawing on the current bar and thus only completed bars can used as signals:

• Easy Trend Visualizer Indicator

(...)
Read the rest of Trend Visualization with ADX Based Indicator (21 words)

A new trading e-book has been uploaded to my site today. It’s Money Management and Risk Management by Ryan Jones. As the title of this book goes, it’s about money management — one of the most important parts of Forex trading (and not only Forex, but any other financial trading that involves risk and probability). The author wisely divides the money management into two kinds — the proper and improper money management. Where the first type refers to the one that always keeps in mind both the risk and reward parts of each trading action, while the improper tries to amplify the importance of only one of those to vital parts. Unfortunately, the majority of traders, especially newbie traders, that see the possibilities opened by the on-line Forex market and its huge leverage, fail to see the full picture and all the more so they can’t apply the proper money management to their trading strategy. But now you can download this book to learn more about the proper money management:

• Money Management and Risk Management

(...)
Read the rest of Money Management and Risk Management (18 words)

From now on every trader that opens a demo or real account with the eToro Forex platform will receive the first lesson from a professional Forex training course for free. To get the rest of the lessons of this course, trader just need to contact eToro via one of the available methods to get the information on how to obtain this course for free. I’ve browsed through the first lesson of the course and it seemed quite introductory to me (as it’s probably supposed to be). There are ten lessons overall and they cover the following topics:

1. Basics of Forex.


2. A quick guide to eToro’s revolutionized trading platform.


3. Fundamental analysis.


4. Technical analysis basics, charts, chart types, timeframes.


5. Trends, trend lines, support & resistance lines.


6. Fibonacci and pullbacks.


7. Popular indicators.


8. Breakouts and swing trading.


9. Trading examples.


10. Adapting technical analysis to commodity trading.

Looks quite interesting to me, especially the last topic since I’ve been trading commodities a lot lately. You can get more information about eToro and open account with this Forex broker.
(...)
Read the rest of Free Professional Forex Course from eToro (21 words)

Another MetaTrader expert advisor was added to my site today — MACD Pattern. It’s based on the MACD patterns (Moving Average Convergence/Divergence), specifically for EUR/USD H4 chart. It shows quite interesting back-test results but, unfortunately, has also two major problems. First, it has more than 27% maximum relative drawdown (that’s more than $6,000 drop during one moment). Second, it doesn’t explicitly control bar opening and uses stop-loss and take-profit levels, which means that the backtests aren’t very accurate and the resulting data should be treated very skeptically. But 60% profit over the course of less than 19 months is quite nice. Here you can see the test results graph (click to enlarge):

A strong drawdown can be seen close to the end of the test — its reason is unknown to me, but I guess it’s tolerable.

You can also view the complete testing report. Go directly to MACD Pattern expert advisor page to download this EA or get more information about it. If you don’t like MACD Pattern, you can check other MetaTrader expert advisors.
(...)
Read the rest of Expert Advisor Based on MACD Patterns (20 words)

Looking at the weekly chart of the EUR/USD currency pair it’s easy to say that it’s currently trading in some kind of a long term triangle pattern with the narrowing boundaries. Although, the upper boundary offers a strong resistance far below 1.5000 level, there is a high probability of the bullish breakout. Fundamental analysts talk about the inevitable dollar’s weakness that will come soon as the global economy starts to recover from the crisis. On the other hand, the U.S. dollar still remains a global reserve currency, while the euro still haven’t managed to gain the proper reputation, which suggest a bearish breakout in EUR/USD. And what do you think about it?

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.
(...)
Read the rest of Will EUR/USD Reach 1.5000 Before September? (23 words)

Trend indicators seem to be the most popular ones among the Forex traders. Indeed, Forex market is quite trendy and if a trader manages to catch this trend in its early stage and exit not long after the trend ends, considerable profit can be made. Today, a new free Forex indicator for trend detection was uploaded to my site. It’s quite accurate and shows where the trend starts and also where it ends; the zone without a trend is marked with a straight horizontal line, which also serves as some kind of support and resistance level. This indicator is easy to use but you should be aware of the fact that it’s redrawing on the current bar and thus only completed bars can used as signals:

• Easy Trend Visualizer Indicator

(...)
Read the rest of Trend Visualization with ADX Based Indicator (21 words)

A new trading e-book has been uploaded to my site today. It’s Money Management and Risk Management by Ryan Jones. As the title of this book goes, it’s about money management — one of the most important parts of Forex trading (and not only Forex, but any other financial trading that involves risk and probability). The author wisely divides the money management into two kinds — the proper and improper money management. Where the first type refers to the one that always keeps in mind both the risk and reward parts of each trading action, while the improper tries to amplify the importance of only one of those to vital parts. Unfortunately, the majority of traders, especially newbie traders, that see the possibilities opened by the on-line Forex market and its huge leverage, fail to see the full picture and all the more so they can’t apply the proper money management to their trading strategy. But now you can download this book to learn more about the proper money management:

• Money Management and Risk Management

(...)
Read the rest of Money Management and Risk Management (18 words)

From now on every trader that opens a demo or real account with the eToro Forex platform will receive the first lesson from a professional Forex training course for free. To get the rest of the lessons of this course, trader just need to contact eToro via one of the available methods to get the information on how to obtain this course for free. I’ve browsed through the first lesson of the course and it seemed quite introductory to me (as it’s probably supposed to be). There are ten lessons overall and they cover the following topics:

1. Basics of Forex.


2. A quick guide to eToro’s revolutionized trading platform.


3. Fundamental analysis.


4. Technical analysis basics, charts, chart types, timeframes.


5. Trends, trend lines, support & resistance lines.


6. Fibonacci and pullbacks.


7. Popular indicators.


8. Breakouts and swing trading.


9. Trading examples.


10. Adapting technical analysis to commodity trading.

Looks quite interesting to me, especially the last topic since I’ve been trading commodities a lot lately. You can get more information about eToro and open account with this Forex broker.
(...)
Read the rest of Free Professional Forex Course from eToro (21 words)

Another MetaTrader expert advisor was added to my site today — MACD Pattern. It’s based on the MACD patterns (Moving Average Convergence/Divergence), specifically for EUR/USD H4 chart. It shows quite interesting back-test results but, unfortunately, has also two major problems. First, it has more than 27% maximum relative drawdown (that’s more than $6,000 drop during one moment). Second, it doesn’t explicitly control bar opening and uses stop-loss and take-profit levels, which means that the backtests aren’t very accurate and the resulting data should be treated very skeptically. But 60% profit over the course of less than 19 months is quite nice. Here you can see the test results graph (click to enlarge):

A strong drawdown can be seen close to the end of the test — its reason is unknown to me, but I guess it’s tolerable.

You can also view the complete testing report. Go directly to MACD Pattern expert advisor page to download this EA or get more information about it. If you don’t like MACD Pattern, you can check other MetaTrader expert advisors.
(...)
Read the rest of Expert Advisor Based on MACD Patterns (20 words)

Looking at the weekly chart of the EUR/USD currency pair it’s easy to say that it’s currently trading in some kind of a long term triangle pattern with the narrowing boundaries. Although, the upper boundary offers a strong resistance far below 1.5000 level, there is a high probability of the bullish breakout. Fundamental analysts talk about the inevitable dollar’s weakness that will come soon as the global economy starts to recover from the crisis. On the other hand, the U.S. dollar still remains a global reserve currency, while the euro still haven’t managed to gain the proper reputation, which suggest a bearish breakout in EUR/USD. And what do you think about it?

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.
(...)
Read the rest of Will EUR/USD Reach 1.5000 Before September? (23 words)

Trend indicators seem to be the most popular ones among the Forex traders. Indeed, Forex market is quite trendy and if a trader manages to catch this trend in its early stage and exit not long after the trend ends, considerable profit can be made. Today, a new free Forex indicator for trend detection was uploaded to my site. It’s quite accurate and shows where the trend starts and also where it ends; the zone without a trend is marked with a straight horizontal line, which also serves as some kind of support and resistance level. This indicator is easy to use but you should be aware of the fact that it’s redrawing on the current bar and thus only completed bars can used as signals:

• Easy Trend Visualizer Indicator

(...)
Read the rest of Trend Visualization with ADX Based Indicator (21 words)

Sometimes it’s necessary to copy all your MetaTrader chart settings to another PC or save them while you are reinstalling Windows on your current PC, or in case you are moving to a new broker and have to download their platform. If you keep only one or two charts open — that’s not a problem, but if you keep more than 10 open charts and each of them employs some custom settings it’s a real pain to set up them on a new platform manually. It’s easy to avoid doing such work by using the Profiles feature in MetaTrader platform. Here’s a brief tutorial on how to move all your chart settings from one platform to another:

1. Save all your current charts in your current platform to a new profile:

2. Give this profile some distinctive name:

3. It’s now available as a separate folder in your MetaTrader’s directory in the «profiles» folder. You can copy it and then paste into the same «profiles» folder in the new platform’s directory (on your new PC or in your new broker’s platform):

4. Finally, load a new profile by selecting it in the Profiles menu in your new platform:

(...)
Read the rest of Copying MetaTrader Chart Settings — Tutorial (21 words)

Last week I’ve posted a pattern spotted on AUD/USD chart that seemed to be a descending triangle. It turned out to be false (with several features pointing on that fact even 7 days ago) and the whole pattern has now transformed into a falling wedge with a very gradual narrowing, which suggests possibility for another pattern transformation. But nevertheless you can already start looking for a breakout to have good entry opportunity. Click the image to get the larger screenshot.

AUD/USD, Daily, Falling Wedge:

(...)
Read the rest of Forex Chart Pattern — AUD/USD (15 words)

Sometimes it’s necessary to copy all your MetaTrader chart settings to another PC or save them while you are reinstalling Windows on your current PC, or in case you are moving to a new broker and have to download their platform. If you keep only one or two charts open — that’s not a problem, but if you keep more than 10 open charts and each of them employs some custom settings it’s a real pain to set up them on a new platform manually. It’s easy to avoid doing such work by using the Profiles feature in MetaTrader platform. Here’s a brief tutorial on how to move all your chart settings from one platform to another:

1. Save all your current charts in your current platform to a new profile:

2. Give this profile some distinctive name:

3. It’s now available as a separate folder in your MetaTrader’s directory in the «profiles» folder. You can copy it and then paste into the same «profiles» folder in the new platform’s directory (on your new PC or in your new broker’s platform):

4. Finally, load a new profile by selecting it in the Profiles menu in your new platform:

(...)
Read the rest of Copying MetaTrader Chart Settings — Tutorial (21 words)

Last week I’ve posted a pattern spotted on AUD/USD chart that seemed to be a descending triangle. It turned out to be false (with several features pointing on that fact even 7 days ago) and the whole pattern has now transformed into a falling wedge with a very gradual narrowing, which suggests possibility for another pattern transformation. But nevertheless you can already start looking for a breakout to have good entry opportunity. Click the image to get the larger screenshot.

AUD/USD, Daily, Falling Wedge:

(...)
Read the rest of Forex Chart Pattern — AUD/USD (15 words)

Sometimes it’s necessary to copy all your MetaTrader chart settings to another PC or save them while you are reinstalling Windows on your current PC, or in case you are moving to a new broker and have to download their platform. If you keep only one or two charts open — that’s not a problem, but if you keep more than 10 open charts and each of them employs some custom settings it’s a real pain to set up them on a new platform manually. It’s easy to avoid doing such work by using the Profiles feature in MetaTrader platform. Here’s a brief tutorial on how to move all your chart settings from one platform to another:

1. Save all your current charts in your current platform to a new profile:

2. Give this profile some distinctive name:

3. It’s now available as a separate folder in your MetaTrader’s directory in the «profiles» folder. You can copy it and then paste into the same «profiles» folder in the new platform’s directory (on your new PC or in your new broker’s platform):

4. Finally, load a new profile by selecting it in the Profiles menu in your new platform:

(...)
Read the rest of Copying MetaTrader Chart Settings — Tutorial (21 words)