The Only Forex Entry Signals Article You Need to Read

September 2, 2010 · Filed Under forex · Comment 

Why is it so hard for some of us to create a profitable forex trading strategy?

To put it simply, forex is no joke. The forex market is not for the lazy investor! This market requires hours of education, perseverance, and guided exploration. In this short article, we will take a closer look at trade entries.

Fine-tuning your trade entries is a major step toward building an overall profitable trading strategy and approach to the forex market. Once you get comfortable with a particular strategy, you will most likely begin to see trade set-ups quite often. The difficult thing, as most traders know, is not finding tradeable set-ups. The difficult thing is determining the perfect trade entry and trade exit. Fortunately, we do not have to do this absolutely perfectly to make money. However, the better our entries and exits are, the more money we will make, and every trader wants to make money.

Predetermine Your Entry Well Before Actual Entry!

This single step can help cure many ills for the new forex trader. Traders can basically be broken into two categories—proactive and reactive.

- Reactionary traders are:

  • Those who react to what they see the market doing. They see the market going up and get emotionally disturbed at seeing the money they are missing out on, so they jump into the market long just in time to see price stop, turn around, and head in the exact opposite direction. Reactionary trading will drain an account very fast.

- Proactive traders, on the other hand:

  • Plan out their trades well beforehand. They will know exactly where they want to enter the market way before the entry is actually triggered. The amount of time will depend on the trading strategy. Intraday scalpers will know exactly where they want to engage the market maybe 5, 10, 20 minutes or more before price actually reaches a level. This is known as waiting for price.  Reactionary traders chase price. Waiting for price is the way to make money in the forex market when trading with forex brokers.

Never Enter Long Into Resistance Or Enter Short Into Support!

Many new traders will unknowingly enter long straight into an area of resistance or sell straight into an area of support. This is a huge mistake. If you are taking trades that seem to continually move just a few pips in your favor before they take off against you, then you are most likely doing this. Let’s take a look at a chart to get a visual representation of what we are describing here:

fores entry signals

Each of the red arrows is pointing to a false break of support or resistance. Many new traders would have entered short on the break of support or long on the break of resistance and each time they would have been stopped out. The problem is that when you go short down at support, you are selling into support which is not a good way to trade. You will lose money trading this way. The same is true with buying resistance up at the top of the picture. You never want to buy at resistance. What you want to do is the exact opposite. You want to buy down at support and sell up at resistance. Try it.

If You Trade A Breakout, Wait For Confirmation To Enter!

If you do want to trade a breakout strategy, then you should consider waiting for a candle to close below support or above resistance before entering. For example, in the picture above, the red candle marked “A” never closed with conviction below the support level. The safe way to trade breakouts with getting into a bunch of false breakouts is to wait for a candle to close by 5-10 pips below support or above resistance. Then, when the next candle opens and retests the line that was just broken, you can enter because that level should now hold for price to continue in the direction of the breakout.

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Stock Asssault 2.0 Update for 2010

February 10, 2010 · Filed Under picking stocks · 1 Comment 

by Miles Reitman


Click here for a download of Stock Assault 2.0 Demo with no obligation.

Stock Assault 2.0 is attracting a lot of attention in the stock market day trading community, with people wondering just how could this software program be as accurate as its creators claim that it is. Obviously, any stocks investor wants to become more profitable, but it is wise to be concerned about how accurate the picks of a software program can actually be.

We recently heard from one individual we shall call “Sonny” who raved that this Stock Assault 2.0 software has become an important part of his stocks investment plan. Of course, it was not something that happened overnight.

Stock Assault 2.0 stock picking software took more than five years and three million dollars for its research and development before it could be released to consumers. It has the ability to give investors a wealth of information and highly accurate picks they would otherwise never have been able to identify. Stocks with both short term and long term profit potential can be located.

With thousands of different stocks at one’s disposal, pin-pointing the ones that are about to make substantial gains, and which are giving off bullish patterns on the charts is a task that only a robust computer software such as Stock Assault 2.0 can accomplish on a regular basis. This program not only identifies the stock picks, but you can also get its advice on how much should be invested by making use of the analysis of risk and reward ratio.

After the software has been downloaded and installed, it only takes a few clicks of your mouse to start it using its advanced artificial intelligence algorithm to sift through the myriad of historical charts and 1,000′s of stocks for you.

Click here for a free demo of Stock Assault 2.0

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