This is a very useful indicator to use in your graph. It draws fibo retracement lines automatically each time the pair did one. It can be use on every timeframe. Download
Tuesday, December 16, 2008
Forex: ex4 to mq4 decompiler
For thoose who like to modify indicator codings or if u accidently lost ur mq4 files. this might be a good help. It is a simple program yet so effective.. For full decompiler please leave ur email on the comments. Download Demo
Sunday, December 14, 2008
Forex Template: Greenpips Turbo V2
This is one my favourite template. It looks cool and very profitable. The above template is the original greenpips v2. I have added a fibo retracement indicator and other zigzag indicators. The rules are simple, only open position based on Gp Major trend indicator colour. One more thing, this system currently operates with m30 chart. Clik Here To get The Template
Wednesday, August 6, 2008
Traits Of A Successful Trader and InvestorUse it as a checklist for your own trading/investing preparation & implementation.
These traits are very important for you to understand - and i suggest you try to adhere to them in order to truly become a successful trader. These traits coupled with the proper psychology can make a difference in your overall trading/investing performance.
- The ability to act on your decisions.
- The ability to accept responsibility for your actions.
- You must have emotional detachment from the markets.
- The ability to accept risk and take losses (you'll never be right 100% of the time).
- The ability for independent & creative thinking.
- The ability to develop insight & proper course of action in various market situations.
- The ability to have self-control.
- The ability to adapt quickly to changing market conditions - being flexible.
- Accept your inability to control the market's movements (the market is always right).
- The ability to function in both structured & unstructured environments (up, down & sideways markets)
- You must have a commitment & focus on the task at hand.
- You MUST effectively manage your stress in order to strive & survive in this business.
Other critical traits:
- Self-Discipline
- Knowledge
- Decisiveness
- Positive Mental Attitude
- Consistency
- Self-Control
- Concentration
- Persistence
- Patience
All these traits have to do with your psychological make-up. You must overcome any and all psychological pitfalls if you want to achieve both profits and attain longevity in the markets. It is the psychology of traders that moves the markets and that's why your thoughts and feelings are important. Remember, whether you're a day trader or long-term trader, your thinking and emotions will affect your trading.
- Your thoughts control how you feel, thus feeling "Positive" gives you a greater chance in being successful in the markets. Here's a quote that conveys this statement:
"When you are feeling gloomy, everything seems to go wrong; when
you're feeling cheerful, everything seems right."
- Remember, you are totally responsible for your actions 100% of the time. Never blame anybody else. This is very important in trading/investing. Here's another quote:
"A fool is quick tempered; the wise man stays cool in the face of insult
or adversity."
- The ability to act on your decisions.
- The ability to accept responsibility for your actions.
- You must have emotional detachment from the markets.
- The ability to accept risk and take losses (you'll never be right 100% of the time).
- The ability for independent & creative thinking.
- The ability to develop insight & proper course of action in various market situations.
- The ability to have self-control.
- The ability to adapt quickly to changing market conditions - being flexible.
- Accept your inability to control the market's movements (the market is always right).
- The ability to function in both structured & unstructured environments (up, down & sideways markets)
- You must have a commitment & focus on the task at hand.
- You MUST effectively manage your stress in order to strive & survive in this business.
Other critical traits:
- Self-Discipline
- Knowledge
- Decisiveness
- Positive Mental Attitude
- Consistency
- Self-Control
- Concentration
- Persistence
- Patience
All these traits have to do with your psychological make-up. You must overcome any and all psychological pitfalls if you want to achieve both profits and attain longevity in the markets. It is the psychology of traders that moves the markets and that's why your thoughts and feelings are important. Remember, whether you're a day trader or long-term trader, your thinking and emotions will affect your trading.
- Your thoughts control how you feel, thus feeling "Positive" gives you a greater chance in being successful in the markets. Here's a quote that conveys this statement:
"When you are feeling gloomy, everything seems to go wrong; when
you're feeling cheerful, everything seems right."
- Remember, you are totally responsible for your actions 100% of the time. Never blame anybody else. This is very important in trading/investing. Here's another quote:
"A fool is quick tempered; the wise man stays cool in the face of insult
or adversity."
Tuesday, August 5, 2008
MY Forex Experience
I have known forex since 3 years ago and found out that this is a very promising business. But in order to benefit from the trade.At first i lost more than i gain. Although it is a demo account but i can't start trading on a live account with that amount of losses in demo account.I started to learn and do research in various system and indicators.There is no such thing of perfect system and indicators and also so called market forecast. I learned a lot from babypips.com and some malay and english forums and will keep on learning until i master all the techniques. This is some reults of my trade
I opened up two demo accounts and the first one i tried with a small margin and the next one i tested with big amounts.
I opened up two demo accounts and the first one i tried with a small margin and the next one i tested with big amounts.
Trade and make money-FOREX
What is FOREX?
The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of over $2 trillion a day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined! Forex rocks!
What is traded on the Foreign Exchange?
The simple answer is money. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
Because you're not buying anything physical, this kind of trading can be confusing. Think of buying a currency as buying a share in a particular country. When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to the other countries' economies.
Unlike other financial markets like the New York Stock Exchange, the Forex spot market has neither a physical location nor a central exchange. The Forex market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
Until the late 1990’s, only the “big guys” could play this game. The initial requirement was that you could trade only if you had about ten to fifty million bucks to start with! Forex was originally intended to be used by bankers and large institutions - and not by us “little guys”. However, because of the rise of the Internet, online Forex trading firms are now able to offer trading accounts to 'retail' traders like us.
All you need to get started is a computer, a high-speed Internet connection, and the information contained within this site.
For more info please visit http://www.babypips.com
The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of over $2 trillion a day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined! Forex rocks!
What is traded on the Foreign Exchange?
The simple answer is money. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
Because you're not buying anything physical, this kind of trading can be confusing. Think of buying a currency as buying a share in a particular country. When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to the other countries' economies.
Unlike other financial markets like the New York Stock Exchange, the Forex spot market has neither a physical location nor a central exchange. The Forex market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
Until the late 1990’s, only the “big guys” could play this game. The initial requirement was that you could trade only if you had about ten to fifty million bucks to start with! Forex was originally intended to be used by bankers and large institutions - and not by us “little guys”. However, because of the rise of the Internet, online Forex trading firms are now able to offer trading accounts to 'retail' traders like us.
All you need to get started is a computer, a high-speed Internet connection, and the information contained within this site.
For more info please visit http://www.babypips.com
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