Trade Forex online with a user-friendly trading platform

In an earlier post I have written an example of how to trade step by step at the trading platform PLUS500 and how a trailing stop works. 

The trading platform at PLUS500 is simple and user-friendly and is perfect for both newbies and  traders with advanced skills.

In my posts I have used some of the indicators PLUS500 offers. Some of the indicators are the Bollinger Bands, the stochastic, MACD and the alligator indicator and are as mentioned all indicators that are available on the trading platform.

In case someone should be interested in trading at PLUS500 and want to try the platform with the free bonus they offer for online trading click the link PLUS500.

How to to take advantage of psychology trading in the Forex market

Psychology trading is methods to bring traders in control with themselves and learn them to trade in their “own best interest”. 

  

The purpose is to change a bad habit or a thought process. Examples could be

• How to stop a trade thatis not a winning trade and how to accept that a wrong decision was made
• How to improve skills toenter a trade

A technique to change a bad habit or a thought process is through visualization. Visualization is to see the trade through a theater play in your mind.

An example could be how to improve skills to enter a trade. In this case the trader could in his mind go through the trade from the entry point to the exit point and see how the trading rules are reliable.  The visualization convinces the trader that the rules are steadfast as he has influenced his thinking that the rules are trusty.

Interested in the subject take a look at the articles Forex Online Trading? HowVisualization Techniques Can Improve Skills To Enter A Trade and the article Forex Online Trading? How to Improve Your Forex Trading WithVisualization Techniques 

If psychology trading isn’t in your interest but still want to improve your trading skills watch this video about a Forex social trading network where trader share trading info, follow and copying expert traders trade in the network.

Forex trading strategy - "keep it simple sir"

I was on the Forex forum babypips.com and read the post 45 pips daily-No Charts, No Indicators,Very Simple.

In the post was presented a Forex strategy that had 8 wins out of 10 trades within the past 2 weeks.

The strategy was to buy EUR/USD 15 pips away from where the price is and sell GBP/USD 15 pips away from where the price is. His stop loss was 10 pips from the entry point. His “take profit” point was 45 pips from entry

The strategy is a K.I.S.S Strategy, an acronym for Keep it simple, Stupid or "keep it simple sir". Please leave a comment if you have a K.I.S.S strategy you will like to share.

If you like to share trading info take a look at this video. It is about a Forex social trading network where traders share information, follow and copying expert traders trade.

The best Forex trading hours in the London market?

The London market is in London time zone open between 8 in the morning and 5 in the afternoon. The US market opens at 1 in the afternoon. The overlap between 1 and 5 is the best time to trade as it is the time the most traders and biggest banks are in the market.

Forex social trading networks

In an earlier post I have written what a Forex social trading network is. Just in case you are interested in a Forex social trading network watch this video on my Forex website.

Trading EURUSD, EURGPB and GPBUSD - Is it possible to earn some pips in the morning using the Bollinger Bands as my primary indicator?

I was on the trading platform this morning – the 29 of august 2012. I used the Bollinger Bands as my primary indicator and the stochastic, MACD and alligator indicator as my secondary indicators.

My entry and exit signals were as described at the end of the article Trading Forex Online - How to UseBollinger Bands and Stochastic Oscillator As a Trading Strategy.

The EURUSD had an entry started about 9:30 and it is still in an upward direction at 10:15 but have reached its expected high.  

The EURGBP had an entry started about 9:45 and it is still in an upward direction at 10:30 but have reached its expected high.  

The GBPUSD had an entry started about 9:15 and it is still in an upward direction at 10:00 - 10:30 but have reached its expected high. 

The answer to the question is it possible to earn some pips in the morning using the Bollinger Bands as my primary indicator? Yes, it was possible to earn some pips as the curves in this post illustrated with the Bollinger Bands as a primary indicator.

Forex Social Trading Networks

The purpose of a Forex social trading network is to share information, follow and copy trades. I have written an article about the subject.

Read the article at my article base on EzineArticles. The title of the article is Trading Forex Online? ForexSocial Trading Networks.

How to gain a profit on the EURUSD

The EURUSD is bearish. The currency rate has decreased about 55 pips from the of 1. July 2012. 

But is it still possible to gain a profit on the EURUSD at the moment? Yes, it is still possible. I went though the 5 minutes chart on the EURUSD the 19. of July 2012 from 10:30 in the morning until 14:45 in the afternoon. My trading tools were the Bolling bands as a primary trading tool and the stochastic as a secondary trading tool.

The first trading signal was at 10:45 until 12:00. The currency rate rose 47 pips from 1.2266  to 1.2313.  On the chart is 2 sell signals as the upper band crosses the price bar. But as the bars first turned red at 12:00 the trade lasted until 12:00.

The second trading signals was at 13:30. The trade lasted until 13:45. The currency rate rose 18 pips from  1.2284  to 1.2302.  

Is it possible to gain a profit on the EURUSD?

The EURUSD is under pressure. It has reached its lowest since June 2010. I was searching on the internet and saw the article EUR/USD Outlook July 9-13 written July the 11 (2012). At the end of the article is a technical analysis concluding that the market is bearish.

But is it possible to gain a profit on the EURUSD where the market is falling?

The answer is that traders have possibilities to find profit in the market on the EURUSD as Forex trading is to find fluctuations in the market. Just study the EURUSD charts and you will realize that the market is in a downtrend but the currency rate is also rising.

On my blog and in one of my articles I have written about the trading strategy BollingBands and the stochastic indicators as a trading strategy. On my blog is also a link to the Alligator trading strategy.  

I was at the PLUS500 trading platform July the 12 (2012). I went through the 5 minute chart using the Bolling Bands and the stochastic indicators as trading indicators. The two indicators showed that there was a trade between 9:25 to 10:25. The rate rose 12 pips from 1.2213 – 1.2225. There was another trade again from 10:55 to 11:30. The rate rose 7 pips from 1.2216 – 1.2223.

Watching the Alligator indicator shows that the first trade doesn’t meet the Alligator indicator but the second trade does meet the Alligator indicators rules.