Trading

Be A Professional Trader

Trading and investment  is a “zero sum game“, because when in the market “professionals” make money. There are “amateurs  who lose” money on the other side of the trade. This is also known as smart money and dumb money (what amateurs lose). So it is about time for you to decide, “What kind of trader you wanna be?” My …

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Price Action

We have accumulating evidence that the bear trend might either be over, or starting a multi-week pullback. Let’s look at what happens going forward and see if the evidence is consistent with that Some crucial information that you just don’t get without reading the price action. The first bar off the lows is pretty strong, …

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Exit Strategy

With trading systems the dumbest, simplest, stupidest crap often works nearly as well as complicated things. I was blown away when I found out that multi-billion dollar hedge funds use pretty simple stuff for their trading systems. Then I later realised that simplicity is the ultimate sophistication. As my friend (legendary hedge fund trader you …

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Trading Station-FXCM Desktop Layout Setup for Forex Trading

FXCM Desktop Settings for Layout, Marketscope and Charts for Forex trading ; Step 1: Download FXCM Desktop application from FXCM Desktop App downloadStep 2: Install the application Step 3: Login into your account : ‘Real’ or ‘Demo paper  account’Step 4: Layout and settings: This is probably what desktop application would look like! However this is not much …

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Forex Trade: leverage, pip value and swap calculations

I entered a trade yesterday (27th November, 2017) on the GBP/JPY. My account currency in Euros. Let us understand the mathematics behind the trade and how to calculate various Forex values manually. Currency Pair: GBPJPY  ‘Base currency’ is GBP and the ‘Quote currency’ is JPY.Current price: 147.80   JPY 147.80 for 1 unit of GBP Quoted in …

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BEHIND THE FOREX CHART – EURUSD STUDY

Study Period: July 03, 2017 to August 23, 2017Asset class: ForexCurrency Pair: EURUSD Chart’s time frame: Monthly, Weekly and Daily time frames. Symbol Information Forex:Point value: 1,Exchange: ‘FXCM‘Currency: ‘USD’Price scale: ‘100000 (six digits)’Price format: ‘1.0000[0]’ Note: Ignore the last-sixth-digit, to get 5 digit pip value(four decimal places).Minimum move: ‘1’Pip size: ‘0.0001’If ‘USD’ is the Cross Currency then Pip value is fixed. But, …

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