Welcome to my website. I have created lessons and videos to help teach my method of trading forex which you’ll find listed below.
I encourage you to explore all the categories and leave any questions or comments you want. I created this website to help teach forex, so all questions are welcome!
There are lessons on: Fibonacci Made Easy, Support/Resistance, Pivot Points, Moving Averages, the Alligator and Money Management
There are videos of: Using Fibonacci, Using the Alligator, Using Pivots, and Trade Analysis
Also check out my review of the best forex educational service I’ve ever experienced: Forex Education| fxKnight.com Review
Several months ago I wrote up a post on Forex-Nation promising more lessons and more info from my own forex experience to help those of you seeking to refine your own forex trading skills. Well I guess you could say I sort of didn’t quite follow through with that promise. But I would like to give an explanation for why the long silence, and no it’s not because I went broke and gave up trading.
It’s actually been one hell of a year for me both personally and financially. Thanks to the misguided hot air balloon that was the Dodd-Frank Wall Street Reform Act my trading capitol proved to be insufficient to continue trading full-time. And as I sought out further ways to boost my income, I decided that web design might offer a great opportunity to raise that capitol. Plus I don’t want another desk job where I face the daily rush hour traffic – who does?
Trading forex gave me independence; it also gave me self-discipline, self-reliance, an entrepreneurial spirit, and new friends. I loved it, and hope to continue it again. I still say it’s not for most people; it’s a niche that only the strongest, bravest, and sharpest traders will succeed at. But it’s not a scam as many will claim (who failed for legitimate reasons on their own part), it’s not a pipe dream, and if you really want to be successful at it, then I recommend you read my lessons and follow those I speak of in this blog and you will be successful.
Fast forward two months to today. I have helped create three e-commerce based websites for three separate start-up companies, with the added bonus of potential equity in those companies if successful. That’s where all my time has been spent over the last two months, but my true passion continues to be as a forex trader. No other industry exists that can offer the income potential and the freedom that being a forex trader offers. I will continue to monitor this blog and keep up with the markets in the hopes that sometime in the near future I will be in a better position to continue on with my trading as before.
For now though, I would recommend any newcomers to take a few words of wisdom that I came to realize as forex truths, and hopefully these words might help guide you along as well.
- The market is always right. At the end of the day if you’re losing more than you’re winning don’t give in to the myth of “forex is just a “scam”, instead realize your system is the problem so fix it.
- Seek education that’s free first before you pay for anything. Let’s face it, if you can Google it, you can probably find it for free. So ask the right questions. Yes, pay services are very beneficial, but only once you have a basic understanding and some real time trading already under you belt.
- Don’t ever invest in robots. Yes big banks use them, but retail traders suck at creating them. We just don’t have the same real-time resources or capitol to build a successful automated system. Leave it to the big boys and learn the technicals they follow instead, and keep it simple.
- Pay attention to the technicals more so than the fundamentals. Both do matter, but it’s my experience that technical traders make more money than fundamental traders.
If I think of more I’ll add them. Let me finish with my list of the best forex websites out there (according to me of course). These should be websites you visit frequently already, but if they’re not, I promise you will only gain more pips from seeking them out in the future for your trading needs. Good luck everyone.
forex-live.com
fxstreet.com
forexpeacearmy.com
forexcrunch.com
And for education that works
fxknight.com
What A Long Month of Trading
Well as I reported in the first week of December, the EUR/USD has been consolidating within the middle of 1.3000 to 1.4000 ranges. This means it’s not a big surprize to those that watch the fundamental data and apply it to the MT4/technical data. You need to keep big picture analysis in your everyday technical analysis. It serves as a compass towards trading decisions.
Award Nominations for fxKnight
And as if my own review of fxknight didn’t encourage you to consider their services for your forex training needs, I get to announce that fxKinght is nominated for Best Educational Content, Best Educator, and Best MetaTrader Add-on.
It’s based upon what actual traders vote,
Continue reading–>February Update – New Year Brings New Money
Just wanted to post something for those who are visiting the site looking for new content and let you know I’m not procrastinating writing new lessons as promised. I’ve got a list of lessons I’m preparing, but I also bit off more than I could chew so to speak with my other “job”. I design websites on the side and recently took on a major E-Commerce website design that’s created a whole new set of problems for me to spend time on. Until I get a good grip on this project, I’m putting my trading and this website’s content on hold. Not to say you can’t still check out all the 2010 content and gain some great insight into how
Continue reading–>Sorry for the Delay
The first couple of weeks in December can still be navigated using the same strategy and indicators that got you through the previous 11 months of the year, but the same cannot be said for the last 2 weeks. These are extremely thin times where the big bankers and investment funds have clocked out till the New Year and small orders that would usually be easily absorbed into the market causing no visible change can actually move the market in very big ways when liquidity is lacking. That’s great when it’s in your favor, but dreadful when it’s not. My advice is to stay away. Enjoy your life outside of forex and just don’t bother thinking about the market until
Continue reading–>My Advice for Trading in December? Don’t Do It!
Before we begin to look at what are the best indicators for determining overbought/oversold conditions and how to use them, let’s first define what overbought/oversold means.
Overbought/Oversold Defined
I define an overbought condition as a situation in which the price level of a currency pair has risen to such an extent that it is overvalued and therefore the likelihood of a pullback is very high. The opposite is true in oversold conditions where price action has fallen to such a level as to justify new buying opportunities due to its’ current undervalued state. In simpler terms, we are dealing with an extreme level in price action that as a result we should therefore see a corrective move take place.
What’s going on in the markets
Continue reading–>Overbought/Oversold: Using RSI, Stochastic, and Moving Average Envelopes
After running Forex-Nation for one year now, I’ve realized that the lesson content of my site is by far the most viewed and popular content. So I’ve decided that for this coming new year, I will be spending the majority of my time creating more lessons and hopefully more valuable content for you my visitors.
Get involved with the Nation
As such, I want to involve you all in the creation of the content. So what content would you like to see added? In other words: What topics interest or baffel you the most? What would you like to learn more about from me?
I have already received lots of requests over the past year for new content relating to:
Should you trust automated trading?
What’s the best way to design
Continue reading–>Help Decide the Next Forex-Nation Lesson
We are seeing the EUR/USD continue to consolidate in the 1.3400/1.3250 range. I continue to watch for a sustained break of 1.3270 where the 38.2 fib. level held price action up yesterday and again so far today as well. In the chart below we see both the 38.2 fib level, 200 MA and daily S1 have acted as support for the past two days. I think we can call the 1.3250/60′s a decent support level to watch! By the way, my fib level was drawn on the hourly chart from 1.3767 to 1.2968.
Not too much fundamental data to drive either currency for today or tomorrow, but look at the economic calendar for Thursday as we have some moderate
Continue reading–>Fibonacci Level 38.2 Continues to Support EUR/USD
Well it was an abysmal employment report last week but that didn’t mean risk off for the eur/usd as the market jumped to life after a brief risk aversion reaction to the unexpectedly low figure. That said the market closed Friday with some minor profit taking and consolidating going into the weekend.
Looking ahead it would appear that markets are still consolidating and has found decent support for the time being at the 200 MA and just above the Daily S1. My initial analysis is that the euro/usd will continue to climb back up the price ladder, but the only puzzling factor here is the crossover on our alligator which gives me a conflicting signal. So no trading for the day
Continue reading–>A Look at the EUR/USD Chart
60 leading currency analysts are predicting a narrow range for the euro vs. both the dollar and pound over the next 12 months. The poll of 60 foreign exchange strategists, taken this week predicted the euro would be trading at $1.31 in a year’s time, weaker than the $1.33 predicted in last month’s poll. After an Irish rescue package of 85 billion euros from the European Union and the International Monetary Fund announced this week, worries remain that bailouts will be needed in other euro zone countries.
According to this recent poll, the euro decline from 1.4280 will not go far beyond recent lows over the next 12 months and will not perform a strong recovery either, as EUR/USD is expected
Continue reading–>Narrow Range Predicted Over the Next Year – Reuters Poll
Ireland’s formal request for an EU bailout continues to weigh heavily on the Euro, as Spain’s bond market begins to show signs of trouble as well. Portugal, Belgium, and Italy also remain potential trouble spots, and Greece is not out of the fire yet as well. This, coupled with initially fairly promising holiday retail numbers out of the US, should make for some interesting trading on the EUR/USD in the final weeks of the year. Comments from Nigel Farage (MEP, UKIP, Co-President of the EFD group) also shed a great deal of light on the serious tensions building with the Euro zone leadership. It’s quite a treat to see such frank and honest apprasial of the political and financial situation.
Continue reading–>‘The Euro Game Is Up! Just who the hell do you think you are?’ – Nigel Farage MEP
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