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Spot Currency Pairs - 7
EUR/USD, GBP/USD, USD/CHF, EUR/JPY, GBP/JPY, USD/JPY, AUD/USD

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Bulkowski’s Pattern Gateway:


A very good online resource for those who are studying chart patterns to become a better trader. Arming yourself with chart pattern knowledge is never something superfluous as it will always be helping you in making your trade decisions. Chart patterns are one of these few things which have proven themselves to be true and have been working out consistently once the patterns have been identified. Mastering chart patterns should be in your priority list of to-do things. Mr Bulowski is an expert in this field and if you follow the link and land on his website, you will see that there is a wealth of information waiting for your regarding chart pattern knowledge. Most of the chart patterns are listed there alphabetically and each of them has been detailed very well together with screenshots showing the real formation of these patterns on historical stock charts.

One of the many pitfalls within which the new and wannabe traders fall into is the feeling that they need to be present and actively participating in the market moves all the time, as if the market will be running away and the moves that they will miss, would not present themselves again. This feeling being experienced by inexperienced traders will tend to make him stick to his monitor or terminal and eye the market as it develops tick by tick waiting for the next move to jump in. This in itself is not much bad as it forms part of the experience gathering process through which traders have to go through in order to become well acquainted with the market and how it unfolds. The problem comes when the trader think he should be participating in the market all the time and be present in the moves... Upon closing a long order, he will go short and the opposite also is true. By doing so, he will tend to over-trade his account and this will eventually produce a negative result on his progress and performance because overtrading kills both the account and the confidence of the trader as it stresses him to an extent and this stress eventually lead him to make more mistakes in his analysis, likewise, he also makes more and more bad trades ... of course, this will produce very bad performance... Overtrading is not the right way to go.. If you are doing it, you should start finding solutions of how to manage it, i am writing 'solution' because over trading is a problem which neither benefit the trader, nor his account.. the only one who benefit from this are the brokers because they win money regardless whether you win or lose your trades.

Recently I have found a nice little trading system which have been devised and shared freely to all the world by a guy with a great heart. I investigated a little into this trading method and personally I think it can turn out into a very profitable trading system if we stick to some strict trading rules and observe a sound and safe money management system.

The system can be downloaded freely from this link and you can also refer to the author's blog which can be found here where some thought provoking stuff might be waiting for you along with some nice screen caps which can give you the initial push towards this profitable free trading method. Good luck with the pips...

Seems the time is right to sell the nzdchf pair. On the H4[240min] chart, we can see a stall on a main resistance trendline even though price have been able to push itself through it a little, it will still be difficult for the pair to continue this up move and the reversal sign has already shown up through the MACD divergence which has appeared. It is just time for me to go short here. I just hope that everything will go fine as I see it.

This trading system which is based on fibonacci is definitely worth talking about as it has proven to be very promising. The name given by the author is abonacci which is supposed to mean Future Fibonacci. This method is purely based on price action without the use of ANY indicators except the price levels and/or fibonacci levels. As we have previously said, fibonacci is a leading indicator and so is the abonacci system which does not focus on the past but predict the future moves. Many are simply baffled by the accuracy of this system although it mind seem a little hard to learn and the learning curve is a little steep. However, all the trading education guides pertaining to this system has been systematically arranged to provide you with the most of the needed information so that you can start trading forex with success. I would advise to take the time needed and invest thoroughly into the mastery of this trading system which has remained free non-commercial so far. All thanks goes to the author of the method.

Gannalyst is a great charting tool for the newbies and the experts alike. Gannalyst 5.0 Pro has replaced the earlier versions of the software and therefore the older versions are obselete. Gannalyst Pro 5 has all the tools one would ever need if he is pursuing the path of the great W.D.Gann. Most of the tools and indicators present in the Gannalyst Pro 5 are geared towards the approach W.D.Gann used to study and analyse the market and this include the different squares such as the square of nine, square of 144, Gann angles, equal timeframes etc. Have fun and download this great software for FREE.

Had we stare at the screen of a master trader, we would be pretty to find at least a few key fibanacci levels being plotted on his charts. For any wannabe trader, it is crucial to study how the fibonacci sequence of numbers is reflected on the market movement and how one can use these to his own advantage to extract the pips from the forex market or any other market.

Today, I am going to talk about the new beta release of Meta Trader 5 -

On 9th of September, 2009 Meta Quotes offered its new charting and
trading platform, the Meta Trader 5. Currently, the beta testing is going on
and the company is planning to offer new MT 5 version in coming year 2010.
You can download Meta Trader 5 via following link
http://www.metaquotes.ru/files/mt5setup.exe

The new MetaTrader 5 trading platform is designed to provide brokerage services
to customers in Forex, CFD and Futures, as well as equity markets.
I personally think Meta trader 5 is a good effort as they added object oriented programming.

However; the company clearly missed the basic requirement of most traders
who actively use MT4 platform on a daily basis.

How customers are going to use it in trading?
Specially, when almost all of the Meta Trader 4 custom indicators and E.As
are not going to work in this Meta trader 5 version.