If you’re trading the forex market, choosing the right time frame is one of the most important decisions that you have to take. The time frame involved in the forex trading is nothing but the width of the window through which you’ll trade the foreign currencies. The trader may focus on making a number of trades that will last for a few minutes or he can also do extensive homework so that he can choosing a particular pair and holding on to it for a couple of years.

Usually, forex tends to be having an inherently shorter span of time frame than other financial assets like securities, bonds and other markets. The leverage that is commonly used in forex trading, ratchets up the borrowing costs, thereby pushing people towards adopting shorter strategies. Additionally, the forex trends seem to move across less distance and lasts for a shorter span of time than security prices. By choosing the right span of time frame, it is possible for the trader to maximize his profits and utilize the money to repay their debt obligations.

When it comes to choosing how wide a window is, there are plenty of options and this is simple because the time frame that you use will be closely connected to the forex trading strategy that you’re using. If you decide to work in a long-term time frame, you’re more likely to make use of the carry trades or the value investing. If you go for the shortest time frame, you have to be an expert scalper.

How would you decide which time frame to use? Foundationally, this will entirely depend on the personal preferences and the personality. If you’re tired of trading with currencies and you don’t have enough time to think about which move to take, you should shift to a wider window or a slower forex trading strategy. On the other hand, if you’re waiting to take advantage of something, you should adopt a narrower window and a faster strategy.

However, if you’re none among the two aforementioned types of forex trader and if you’re an experienced one, you should be using the same strategy for a long period of time. Trading with multiple frames is certainly the best way to adopt for the forex traders. Stick to a particular strategy so that you can maximize the profits and also raise your passive income source.

In spite of some cons of multiple frames trading, there are valid reasons to choose this particular strategy. Move out of the comfort zone and try to do something new so as to enhance your gains and be able to delete your financial worries without getting professional debt help from legal companies.

Pivot Points In Forex: Mapping Your Time Frame

It is useful to have a map and be able to see where the price is relative to previous market action. This way we can see how is the sentiment of traders and investors at any given moment, it also gives us a general idea of where the market is heading during the day. This information can help us decide which way to trade.

Pivot points, a technique developed by floor traders, help us see where the price is relative to previous market action.

As a definition, a pivot point is a turning point or condition. The same applies to the Forex market, the pivot point is a level in which the sentiment of the market changes from ‘bull’ to ‘bear’ or vice versa. If the market breaks this level up, then the sentiment is said to be a bull market and it is likely to continue its way up, on the other hand, if the market breaks this level down, then the sentiment is bear, and it is expected to continue its way down. Also at this level, the market is expected to have some kind of support/resistance, and if price can’t break the pivot point, a possible bounce from it is plausible.

Pivot points work best on highly liquid markets, like the spot currency market, but they can also be used in other markets as well.

Pivot Points

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.

Why PP work?
They work simply because many individual traders and investors use and trust them, as well as bank and institutional traders. It is known to every trader that the pivot point is an important measure of strength and weakness of any market.

Calculating pivot points
There are several ways to arrive to the Pivot point. The method we found to have the most accurate results is calculated by taking the average of the high, low and close of a previous period (or session).

Pivot point (PP) = (High + Low + Close) / 3

Take for instance the following EUR/USD information from the previous session:

Open: 1.2386
High: 1.2474
Low: 1.2376
Close: 1.2458

The PP would be,
PP = (1.2474 + 1.2376 + 1.2458) / 3 = 1.2439

What does this number tell us?
It simply tells us that if the market is trading above 1.2439, Bulls are winning the battle pushing the prices higher. And if the market is trading below this 1.2439 the bears are winning the battle pulling prices lower. On both cases this condition is likely to sustain until the next session.

Since the Forex market is a 24hr market (no close or open from day to day) there is a eternal battle on deciding at white time we should take the open, close, high and low from each session. From our point of view, the times that produce more accurate predictions is taking the open at 00:00 GMT and the close at 23:59 GMT.

Besides the calculation of the PP, there are other support and resistance levels that are calculated taking the PP as a reference.

Support 1 (S1) = (PP * 2) – H
Resistance 1 (R1) = (PP * 2) – L
Support 2 (S2) = PP – (R1 – S1)
Resistance 2 (R2) = PP + (R1 – S1)

Where, H is the High of the previous period and L is the low of the previous period

Continuing with the example above, PP = 1.2439

S1 = (1.2439 * 2) – 1.2474 = 1.2404
R1 = (1.2439 * 2) – 1.2376 = 1.2502
R2 = 1.2439 + (1.2636 – 1.2537) = 1.2537
S2 = 1.2439 – (1.2636 – 1.2537) = 1.2537

These levels are supposed to mark support and resistance levels for the current session.

On the example above, the PP was calculated using information of the previous session (previous day.) This way we could see possible intraday resistance and support levels. But it can also be calculated using the previous weekly or monthly data to determine such levels. By doing so we are able to see the sentiment over longer periods of time. Also we can see possible levels that might offer support and resistance throughout the week or month. Calculating the Pivot point in a weekly or monthly basis is mostly used by long term traders, but it can also be used by short time traders, it gives us a good idea about the longer term trend.

S1, S2, R1 AND R2…? An Objective Alternative

As already stated, the pivot point zone is a well-known technique and it works simply because many traders and investors use and trust it. But what about the other support and resistance zones (S1, S2, R1 and R2,) to forecast a support or resistance level with some mathematical formula is somehow subjective. It is hard to rely on them blindly just because the formula popped out that level. For this reason, we have created an alternative way to map our time frame, simpler but more objective and effective.

We calculate the pivot point as showed before. But our support and resistance levels are drawn in a different way. We take the previous session high and low, and draw those levels on today’s chart. The same is done with the session before the previous session. So, we will have our PP and four more important levels drawn in our chart.

LOPS1, low of the previous session.
HOPS1, high of the previous session.
LOPS2, low of the session before the previous session.
HOPS2, high of the session before the previous session.
PP, pivot point.

These levels will tell us the strength of the market at any given moment. If the market is trading above the PP, then the market is considered in a possible uptrend. If the market is trading above HOPS1 or HOPS2, then the market is in an uptrend, and we only take long positions. If the market is trading below the PP then the market is considered in a possible downtrend. If the market is trading below LOPS1 or LOPS2, then the market is in a downtrend, and we should only consider short trades.

The psychology behind this approach is simple. We know that for some reason the market stopped there from going higher/lower the previous session, or the session before that. We don’t know the reason, and we don’t need to know it. We only know the fact: the market reversed at that level. We also know that traders and investors have memories, they do remember that the price stopped there before, and the odds are that the market reverses from there again (maybe because the same reason, and maybe not) or at least find some support or resistance at these levels.

What is important about his approach is that support and resistance levels are measured objectively; they aren’t just a level derived from a mathematical formula, the price reversed there before so these levels have a higher probability of being effective.

Our mapping method works on both market conditions, when trending and on sideways conditions. In a trending market, it helps us determine the strength of the trend and trade off important levels. On sideways markets it shows us possible reversal levels.

How we use our mapping method?
We at StraightForex (www.straightforex.com) use the mapping method in three different ways: as a trend identification (measure of the strength of the trend), a trading system using important levels with price behavior as a trading signal and to set the risk reward ratio (RR) of any given trade based on where the is the market relative to the previous session.

By: Raul Lopez

Article Directory: http://www.articledashboard.com

Raul Lopez is a full time Forex trader and founder of www.straightforex.com a high quality Forex training and Forex trading course provider

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Systems – Building Big Gains

Long Term With Robots

Mechanical forex trading systems are a great way to make money if you find the right forex robot. There time efficient and can give you a disciplined route to profit however not all forex robots are created equal and the fact is the vast majority will wipe you out. This article is all about finding the ones which can lead you to currency trading success.

The first step in finding a forex trading system for profits is to pass by any that carry this on them as a warning:

"CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

The above is on the vast majority and if you want to trade a system which has never been traded then you’re asking for trouble. It’s not proven and we can all make up track records.

You can shop around and find some systems which have real time audited track records over a few years and you get what you pay for, there not cheap and you certainly won’t pick up a good one for under $1,000 and expect to pay a lot more for some.

If you do buy one, make sure you check the worst peak to valley drawdown and it suits the risk you want to take. Also make sure you understand how and why it will make money – you must know the logic. If you don’t, you won’t have confidence in it and be able to follow it through periods of loss and drawdown.

A , for Big Gains!

Surprisingly there is a free one you can use which makes more money than 95% sold online. It’s been around for over 20 years and has been used by some of the top traders in the world and don’t assume because its free it doesn’t work it does and really is a great system to use. The logic is soundly based and it’s easy to understand why it makes money.

Its called the 4 Week Rule and was originally devised to trade commodities by trading legend Richard Donchian – but it works a treat on currencies, as its designed for long term trend following and currencies trend long term.

Here is Richard Donchian’s 4 Week Rule:

Liquidate any short positions and go long whenever the price exceeds the high of the previous 4 calendar weeks – reverse this trade, when the price falls below the lows of the previous 4 weeks. This system will maintain a long or short in the market all the time.

Simple? Yes, you could hardly find a simpler system but it works test it and see.
If you use it, you will be in on every major trend and long term it makes money. In the short term if markets don’t trade expect some losses but if you want to add a filter to prevent these you can. Exit on a 1 or 2 week stop and then simply take the next 4 week trigger.

Simple systems always work best, as they are more robust than complicated ones. The one above is just, that and has stood the test of time. It has been used by a huge number of traders and made countless millions in real time. Its free,check it out and you will surprised at how much money it makes.

So if you are looking for a mechanical forex trading system, avoid the vast majority with simulated track records and buy one which has at least been proven, or of course you can try the FREE one above which in our view is one of the best around, it won’t cost you a cent and could lead you to currency trading success.

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For free 2 x trading Pdf’s, with 50 of pages of essential info and more on Currency Trading Systems visit our website at: Learn Currency Trading Online.

By Michelle Hendrix
Published: 6/30/2008 

forex trading systems reviews

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Forex auto trading systems

4 reasons for Auto Forex trading systems

Forex auto trading systems have become very popular for both beginners and intermediate traders. Many claim auto trading systems will produce better results than any sole human can achieve.

Let’s address four key critical areas where a Forex auto trading system helps a trader to better profits.

1. Complex technical analysis is handled by software.
2. Human emotions are removed from the equation.
3. Can trade anytime.
4. One can back test, and forward test on a free account.

1. Technical analysis is used extensively for forex trading. There are a vast number of indicators, many of them involving complex mathematical calculations. More importantly a good system never relies on a single technical indicator but involves several and how they relate to one another. A good Forex trading system uses a computer to analyze these different technical indicators and issue buy and sell signals based on probability of past correlation of these indicators. This is critical as experienced traders often spend hundreds of hours and thousands of dollars learning different technical indicators and how they relate to one another. We all know computers are great at number crunching and detecting patterns. A good Forex auto trading system uses this huge advantage to benefit the trader.

2. Any experienced trader will tell you the biggest obstacle any trader will have regards successful trading is their emotions. A good trader must master their emotions and this can take several years. An automated system removes the element of emotions, all one does is let the system do the trades. Fear has prevented many traders from entering a position when the technical indicators are positive. More importantly greed has often turned huge gains into losses, just ask any trader. I can’t stress enough that human emotions are a Forex trader’s worst enemy. When you have a trading system that you know works over time you just let it run its course.

3. Forex trading occurs around the clock Monday to Friday. There are systems that run on autopilot, they attach to your trading software and execute trades without your intervention. Institutions, banks, and large broker houses have done this for years. The main reason are for the two items listed above. Now, consider if you live in New York and you are trading the US/EURO. A very active timeframe for trading is during the European business hours, that would be 1AM to 4AM your time. So why not sleep and let an automated forex trading system do the trades for you. And let’s not forget when the Japanese traders are active during their normal business hours.

4. I mentioned being able to do back testing and forward free testing on a forex trading system. If I am to purchase a trading system I want to be able to do a risk-free test of the system. Some systems will give you the exact details of their signals and you can then actually go back in time to the charts and see how effective they were. Also many forex trading systems will provide you with historical records, but keep in mind there are other factors involved and you may be observing ideal situations. As almost every forex broker will provide a demo account you can actually test a system for free using a demo account. This is a MUST. I would never test a trading system with real money.

Forex trading, and Forex trading systems are becoming very popular today mainly because you no longer need $100,000 to open account, in fact you can open account with some brokers with with as little as $100. Also in the past the systems have been cost prohibitive so only large institutions used them. Forex has always offered huge leverage like 200:1 and for this reason has been very popular. You are hearing more about it today because almost anyone can get started for the very little money.

Barry Z is a retired Internet Marketer living in Mexico who coaches entrepreneurs in his spare time. I will be speaking at the 1st Forex Affiliate Conference in Las Vegas 25-26th July 2008. For more information on a auto trading systems see Forex Auto pilot. For marketing and forex information visit forex.earninternet.com

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Free Forex Trading System – This System is Free, Proven and Made Millions!

If you want a free forex trading system which has worked, has made traders countless millions is simple to understand and can be executed in around 15 minutes a day then this is the forex trading system for you.

Many people buy systems online and most don’t work. The numerous forex robots you see, all claim they can make you money but they have never been traded and the track records you see are all made up simulations – this free forex trading system though doesn’t simply talk the talk it’s walked the walk.

Why simple systems work best?

The system enclosed is so simple you don’t need to even have a computer to calculate it, you can do it in your head – but don’t be deceived by its simplicity – simple systems work best as they are very robust and have fewer elements to break than complicated ones. The system was originally designed to trade commodities but will work on any financial market which offers good long term trends and forex markets offer great trends – that last for weeks, months, or even years.

The System

Is called the 4 Week Rule and was devised by a trading legend Richard Donchian, in the late seventies. It’s stood the test of time and made traders millions. Let’s now look at the system rule. By a new 4 week calendar high and stop and reverse to a short position on a new 4 week calendar low – then do the same in reverse and constantly maintain a position in the market. It’s a very powerful trading system and will give you the following advantages:

1. You will get on the right side of every major trend and bank a big  percentage of them as profit.

2. No subjectivity is involved and you have a totally objective rule.

3. It takes very little time about 15 minutes a day and that’s it.

The system does take tremendous discipline to follow but if you have a disciplined nature, you will see why this free forex trading system will make money – it’s based on the fact that currencies trend and most new trends, start from new market highs or lows.

A Filter

Like any trading system it’s not perfect and doesn’t work all time and has a downside and that’s if the markets are not trending and moving sideways, it will generate losing signals.
Here you might like to try a filter to smooth the equity curve.
Exit on a 1 or 2 week stop, or a moving average and then go flat.
Re-enter on the next 4 week signal.
A System You Can Use Right Now for Bigger Profits

This system works, will continue to work and while traders waste their money and their time, on worthless sold forex robots and systems, they could use this one for free! Don’t let anyone tell you that complicated systems work better – they don’t.

Forex trading success is based around a simple robust trading system which is executed with discipline. So if you want to achieve currency trading success make the 4 Week Rule the basis of your forex trading strategy and you can get a head start on the road to consistent profits.

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Choosing the Best Forex Trading System

All about how to make a lot of green with the best forex trading system.

So, you are interested in trading. Maybe you are a novice, maybe you have moderate experience, maybe you are an expert. No matter what your level, but especially if you are a beginner, then you need to choose the best Forex trading system. The only problem there is – which do you choose? There are a number of trading systems available to you, after all. If you are indeed a novice, how do you know the difference between them? Well, for one thing, you definitely need to research all your options. That is going to benefit you the most. With that in mind, perhaps you would like to consider the Forex Killer trading system.

First and foremost, a bit about the history of this trading software is necessary. Forex Killer was designed by a man named Andreas Kirchberger. That name might not ring any bells, but if you read on, it is going to become very important to you. You see, Mr. Kirchberger is a trading expert. He has worked with some of the biggest investment banks that can be found in Europe. He used his considerable knowledge and expertise to design this software. The premise is to make it easier for beginning traders to make an amazing profit. The Killer system does this through a complex combination of algorithms and signals which work to provide you with a means to decide whether any particular trade will be successful or not. All you have to do is input the currency in which you are interested, i.e. USD, EU, et cetera.

The features offered by the software contribute in making it the best Forex trading system you will come across anywhere. For instance, you can use it in any country – and you will be able to reach a large number of countries in turn. You will be able to work with multiple currencies as well; you are by no means limited to the U.S. dollar or the Euro.

It offers comprehensive analyses of current market trends; it recognizes their worth early on, which in turn provides very quick trading and give you a leg up over other investors; it can trade for you, automatically, whether you are actually at your computer or not; and it can work, tracking and operating, on a number of different markets, all at once. It does all this thanks to the mathematical models and decision making technologies on which it is based. Best of all, it is extremely simple to use, so you will not have any difficulties understanding the process whatsoever.

To check out reviews, customer feedback and vital information on the top three selling forex trading systems go to www.forexsoftwarecustomerjournal.info.

By Marc Thompson Published: 9/6/2008

Venturing oneself in any kind of investments is not easy. Though most people consider capital as the major element, still many failed to find success.

Perhaps you have heard about forex trading as a business venture, but you don’t understand what it’s all about. This article will give you a little overview, before you can examine the benefits it can provide you.

Trading of foreign currencies through brokers is known as forex market. Movement of currency is the basis of forex exchange depending on market conditions. Process of dealing with the forex market to investors is called forex trading. Objective of every investor here is to profit. Opportunities of becoming rich or bankrupt via forex trading are speculative, because changes in forex rate are unexpected.

As time goes by, the impact of engaging in forex trading business is becoming more and more powerful especially to those who focused and risk their lives in this kind of gamble. Thus, every business individual or company at the back of this venture must not only be knowledgeable and responsive. There are so many qualities to own, ideas to adapt, and techniques or approach to apply in order to include your self in the series of successful forex trading investors.

Recently, many forex trading companies are providing best forex trading systems for their million clients. These systems can be accessed online, even without using your phone or going out somewhere else. In short, everybody deserves an effortless way of gaining profits at home. Online systems like these, provides historical display where you can back-check previous market exchange conditions. Having this is so simple. They can be downloaded directly to your PC, providing you a tutorial training based on video that will enhance your skills step by step. After this, why not imagine yourself profiting more in the biggest currency market in the world.

In fact, best forex trading system can be successfully achieved by examining first what is applicable or ideal for you. In choosing the best, you need to examine what is the difference between two kinds of forex systems – discretionary and mechanical forex trading systems.

Discretionary systems uses good or bad experiences, direct perception or immediate apprehension on input and outputs while programs coming out directly from mechanical systems following systematic procedures and technical studies are categorized under mechanical systems. Which of the two can fulfill your preference? It’s your duty to find out.

Know your personality first. If you think you can accomplish something based on the given standards of your systems, fearing yourself to be placed in risky situations, then it is recommended that you’ll use a system that belongs mechanically. On the other hand, if you’re flexible enough to adapt in any kind of forex trading conditions, then discretionary type of system is ideal for you. With this kind of set up, you need to plan what to execute next.

The ways you choose the best forex trading system actually do matter. At the end, you still need to consider several significant points before having one. Determine the compatibility between the system and your personality; otherwise you will end up waiting for nothing. Have one for trial and two as a second option is possible.

A profitable trend Forex System.

Discover the best forex trading system recommended by Ricky that enable him to earn $545 per day working only 2 hours a day.

By Ricky Lim Published: 9/22/2007

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