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38 steps to becoming a trader

They are as follows:

1. We accumulate information - buying books, going to seminars and researching.

2. We begin to trade with our 'new' knowledge.

3. We consistently 'donate' and then realize we may need more knowledge or information.

4. We accumulate more information.

5. We switch the commodities we are currently following.

6. We go back into the market and trade with our 'updated' knowledge.

7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in.

8. We start to listen to 'outside news' and to other traders.

9. We go back into the market and continue to 'donate'.

10. We switch commodities again.

11. We search for more information.

12. We go back into the market and start to see a little progress.

13. We get 'over-confident' and the market humbles us.

14. We start to understand that trading successfully is going to take more time and more knowledge than we anticipated.


15. We get serious and start concentrating on learning a 'real' methodology.

16. We trade our methodology with some success, but realize that something is missing.

17. We begin to understand the need for having rules to apply our methodology.

18. We take a sabbatical from trading to develop and research our trading rules.

19. We start trading again, this time with rules and find some success, but
over all we still hesitate when we execute.

20. We add, subtract and modify rules as we see a need to be more proficient with our rules.

21. We feel we are very close to crossing that threshold of successful trading.

22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.

23. We continue to trade and become more proficient with our methodology and our rules.

24. As we trade we still have a tendency to violate our rules and our results are still erratic.

25. We know we are close.

26. We go back and research our rules.

27. We build the confidence in our rules and go back into the market and trade.

28. Our trading results are getting better, but we are still hesitating in executing our rules.

29. We now see the importance of following our rules as we see the results of our trades when we don't follow the rules.

30. We begin to see that our lack of success is within us (a lack of discipline

in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.

31. We continue to trade and the market teaches us more and more about ourselves.

32. We master our methodology and our trading rules.

33. We begin to consistently make money.

34. We get a little over-confident and the market humbles us.

35. We continue to learn our lessons.

36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.

37. We are making more money than we ever dreamed possible.

38. We go on with our lives and accomplish many of the goals we had always dreamed of

who like this great trading system

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http://www.worldwid e-invest. org/showthread. php?p=47# post47

Forex Cha Ching

  • The Forex Cha-Ching Expert Advisor
  • The FAST TRACK MQL4 Email Course That Will Teach You Everything You Need To Know To Create Your Own Custom Indicators and EA's
  • The Exact Entry Points Custom Indicator
  • The Power MACD Custom Indicator
  • The Bollinger Bands Alert Custom Indicator
  • The Secret Support and Resistance Custom Indicator
  • The Inside/Outside Bar Custom Indicator
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ea turbo

The jobs to make a profit Forex Trading Software is not easy. Starting from middle of 2006 began designing the EA. Created hundreds of EA results from a variety of ideas. Had no sense of fatigue and despair.

A moment of hope come when on the net appear a martingale EA that seem can not be lost. But after test and test - how good the signal - still potentially eliminate our trading account.

Tired .. take some week rest.. and in a short stories, finally any broker offers 1 pips spread for all pairs. Crown Forex! But I do not understand with 1 pips spread is it course of we can make profit? So the presence of Crown Forex does not affect anything.

One day, my regular customer order an EA due to he confuse with his own. He really ask me to think about Forex Trading Software for 1 pips spread broker. He give one EA name Submachine EG 1 pips, so the name sounds. I never heard this EA name before on the net. I make some modifications .. I added the "Auto GMT Offset" and "aggressive mode", then he became warriors EA on the internet and show force at I give name "Night Turbo v1007" means the final version is dated 7 October 2009. That's the meaning of v1007.
The image to be rich with income $1 million a month is very close. Robert Kiyosaki said rich is if you can make money at least $ 1 million for a month? But what! On the late time we know, and and probably many others who think they've opened an account there is a SCAM. And they recorded by as a Big scammer on the net. Their price movements are not the same between demo and real, execution too difficult and there are some info that some trader has a big profits account can never be withdraw! So mean this Forex Trading Software must change in order can be use at others broker.

Re-design again.
I have to include others broker and others pairs. Until Saturday 7 November 2009 the name changed to "Night Turbo 1107". And the result is not as spectacular as at scammer broker's. But the average of 43% a month it has enormous right? And now this Forex Trading Software can run at others broker - at least - Instaforex. According also Insta Forex scammers but we do not believe it! Our others team placing funds around $ 20,000 there for the last 1 year is still good. So far no problem.

Let we see the last EA graph. Testing Quality is 90% means there is almost no difference with the real. On the future this EA will design at many broker as possible include ECN broker.

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support and resistance EA

This EA work on three indicators are - Index of support and resistance -bayevot and MACD
These three indicators are not running together, but we can choose the index, which will ea work done by the input (and the best indicator is an indicator of support and resistance) and the normal for this ea input .
We also think thatthis ea depends on the support and built ... has two strategies in trading index support and resistance are:
The first strategy (which in the Settings ea natural)
Based on trading or trading at break support or resistance
The second strategy (and can be done from the input )
Based on trading or trading between support and resistance bands
It is my experience that the first better than the second

the input :
Sorry .. There are some input of the regular I will not describe it ..
secure profit = take profit
mm = money managment (1mean mm work-0mean mm not work
reverse condition = 0
It is intended as trading within the scope of support and resistance trading at or penetrate support Aoualemquaomp
Important will be zero vocation - to be trading at Penetrations
risk = 12
Risk possible and provide as desired .. It is linked to the management of capital or mm If the danger is working and is working contrary
openorderbasedon = 2
0 ----------- macd
1 ------------ pivot
2 ------------ supres

The advantages and disadvantages and my ea it:
Best Time Frame, and my point is time .. and found that most of the operations of this successful ea..
ea can not be relied upon to be placed on server or a real account is under development
The main disadvantages of this ea that if price breaks support and resistance, and soon reverted to Lucane .. any penetration and it opens an imaginary example of this process if the price touch the resistance and the opening of the Long and the price rebounded ea and language code will read the resistance and support is to open up the Long also

Place the input support and resistance as you beck Taste and you will see , enjoy


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Daily Swing System

the Daily Swing System

This system requires 10 minutes each evening to trade. This system is all about taking high probability swing trades. Not only have I traded the system for a long period of time I have also manually back tested years upon years of data. I originally tested it over 13 pairs and found that 2 of these pairs did not produce amazing results so I have cut them out and now only trade 11 pairs. The pairs I trade with this system are as follows USDJPY, AUDUSD, GBPUSD, EURJPY, AUDNZD, EURUSD, NZDUSD, CADUSD, EURAUD, GBPJPY and EURCAD. The reason I trade so many pairs is because the setup we are going to be looking at only happens on average 12 times a year per pair (if you only take the very high probability setups). So once we start trading 11 pairs we get more than enough signals, in 2007 there was approximately 120 good setups.
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Support and Resistance
What is support?
Support is the price level at which demand is thought to be strong enough to prevent the price from declining further. The logic dictates that as the price declines towards support and gets cheaper, buyers become more inclined to buy and sellers become less inclined to sell. By the time the price reaches the support level, it is believed that demand will overcome supply and prevent the price from
falling below support.
What is resistance?
Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further. The logic dictates that as the price advances towards resistance, sellers become more inclined to sell and buyers become less inclined to buy. By the time the price reaches the resistance level, it is believed that supply will overcome demand and prevent the price from rising
above resistance.
Below there are two examples of support and resistance in action on a Daily chart of the EUR/USD. The first example is using horizontal support and resistance and the second example is using a trend line. The arrows show points at which the line rejected price. As you may notice from looking at the first example once a strong support level is broken it turns into strong resistance, the same goes for a strong resistance level, when it is broken it becomes support.
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This system will be using support and resistance extensively so I highly recommend after you have read this section that you spend a decent amount of time trying to identify support and resistance levels for yourself on your trading platform. Throughout my trading career I have always used support and resistance levels to assist my trading decisions and it has proven to be a very valuable asset.
For the entries for this system we will be using price action, we will only be using one candle stick pattern which I call the Pin Bar. Pin bars form on all time frames where price tries to push up or down through a resistance level but fails and falls back to a similar level at which it opened. Once the bar closes in this state, it creates a price bar which looks like a pin see images below.
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This price bar is very accurate at pointing out reversals on the larger time frames like the 4 hour and daily charts as long as it coincides with a strong support and resistance level. However no pin bar is created equal, every one that develops is slightly different, as you gain experience you will be able to easily spot the good from the bad but for now I will give you a few pointers to help you recognise the right pins to be trading.
• The pin of the bar must be at least twice the length of the head (the part between the open and close).
• The longer the pin the stronger the signal. The close of the pin bar should be close to the open.
• Although it is not crucial, if the pin bar is pointing up and the close of the pin is below the open this shows that the bears are strong and means it is a strong signal. If the pin bar is pointing down and the close of the pin is above the open this shows that the bulls are strong and means it is a strong signal.
Let's look at some pin bars on a chart.
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On the above example there are 4 bars marked out with numbers, only two of these are pin bars. Pin #4 is a well formed pin bar. Pin #3 has a close which is too high making the pin of the bar not long enough. Pin #2 is not a pin bar but more of a neutral bar mainly because the pin of the bar is equal on ether side indicating uncertainty in the market. Pin #1 is a perfect pin bar, it meets all the
guidelines and would be a perfect setup in my opinion.
Once you have a grasp of the support and resistance and you understand how a pin bar is formed and what it should look like, then it is time to put everything together and start looking at entries.
First you will need a Daily bar chart, for each of the following currency pairs. USDJPY, AUDUSD, GBPUSD, EURJPY, AUDNZD, EURUSD, NZDUSD, CADUSD, EURAUD, GBPJPY, EURCAD.
The first signal we are looking for is a pin bar like we discussed earlier. Each day a new bar is created at midnight GMT or EST depending on your broker, you only need to flick through all your charts and check if today's bar closed as a pin bar. For example I use a broker on GMT but I am in EST so every day at 8.00pm ST I flick through all my charts and look at the days price bar to see if it is a pin bar, this should barley take 2 minutes. Sometimes you may not see any for a hile then the next week you may get one each day.
Once we have found a nice pin bar we have to see if the price is also close or touching one of the following.
• Trend line
• Support level
• Resistance level
If you have been keeping an eye on the pairs for more than a week then you will already have marked out all the possible support and resistance levels and have a good idea what's going on long before a entry is formed. Let's look at a couple of charts using support and resistance along with pin bars.
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Above is a daily chart of the GBP/USD at this time there were two major support and resistance lines in play going back as far as 5 months. I have marked with arrows the pin bars that formed at these levels, using the entry technique we will discuss later just these four trades would have easily yielded over 600 pips and remember all we are doing is spending 10-15 minutes each evening at the charts.
Ok, so you have the major support and resistance lines set out on your charts, you see a nice pin bar form at one of these levels, right now your probably dancing around because you are so sure you know where price is going… but don't jump in the market yet! Although you could jump in the market now and have a good chance of this being a winning trade you would be leaving a lot of money on the table, let me explain my method for entering the market once you have a signal.
This is the real beauty of this system, most people I know that trade off of pin bars will place their buy or sell order a couple of pips above or below the pin bar with their stop the other side. I'm not saying this does not work but I am saying that there is a far better way of trading them. I analyzed hundreds and hundreds of pin bars from all 11 pairs that I trade and I found 1 thing in common. Each time a pin bar is formed I found that more than 90% of the time, price retraced back before heading in the direction the pin bar anticipated. Out of those 90%, 80% retraced to the 50% fib retrace level of the pin bar and the other 10% retraced to the 68% fib level of the pin bar. What this means to us is that if we enter at the 50% retracement of the pin bar then we get a much better risk/reward ratio on the trade which is very important to any trader wishing to make it long term in this business. Don't worry if you are confused, I am about to explain.
Let's take a new example of a pin bar forming at a resistance level. I have enlarged the picture of the pin bar that formed so you can clearly see the entry level.
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Above you can clearly see the red resistance line that has shown a history of support and resistance further back in time (not on chart) and the nice pin that formed at the level, this means we are looking to make a sell trade. To locate our entry point at the 50% retracement level what I do is use the Fib tool and drag it over the whole body of the pin bar, the 50% fib level will be our entry point for the sell trade located on the picture above where the black arrow is pointing. As you can see the next day price came up to open our sell order at the 50% level, then went in the desired direction. There was almost no drawdown on this trade and everything was known the day in advance! This is not luck if you check back over your charts you will see the same thing repeats itself over and over. Of course there will be times when price will go way over the 50% level but they are minimal. Stops are always placed 5 pips the other side of the pin bar. By using this method of entry we have halved the risk. Here's an example. The average pin bar on the daily chart is about 100 pips in length, if we were to place our buy order 5 pips above to catch the move with the stop 5 pips behind then our risk in pips is 110 pips not inc spread. Using 2% of your account (which is what I recommend) on a $10,000 account would be $300. This means price has to move 110 pips for you to make back your initial
2%. Using my entry method our risk in pips would be 55 pips so price only has to move 55 pips in our direction for us to have a profit of 2%. Considering I have had moves of 500 pips risking 50 pips your account can grow faster than you think! On that particular move it was a profit of 20% of my account risking 2%. Below is a diagram of a pin bar with the entry and stops drawn on for a sell position, it is exactly the same for a buy position except the opposite way around.
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Trade Management
How you manage the trade once it is open will vary depending on your personality, some people like to shoot for the big money while others prefer to take smaller more consistent profits.
If you prefer smaller more consistent profits…
I recommend you split your position into 2 halves, set a take profit level for one half at the same amount of pips that you risked on that trade. For example if you stop is 60 pips then you would set the take profit on the first half of you trade to 60 pips. Set a trailing stop for the second half of your position to trail behind by the same amount of pips you risked. This enables the trade to take care of its self while you are not around, the first position is used to take a quick profit and the second will follow the trade behind by the same amount as the stop value, eventually being stopped out when price turns against it.
If you prefer larger big dollar gains…
I recommend you do not split your trade into two positions as this does reduce your overall dollar gain, instead use one position, and as soon as you check the trade and it is in more profit than you risked, move your stop to break even. From here on it's a free ride and some of these rides are huge! You can target another support and resistance level or set a predefined target like four times
your risk which would give you a huge gain on each winning trade.
I personally use the second method as it makes me the most money but I do get quite a few trades stopped out at break even which can be annoying sometimes. Whichever method of trade management you choose you still should not need to be more than 10 minutes in front of your charts on the evening.
System Rules
• Check each chart when the daily bar closes for a pin bar.
• Make sure it is bouncing off of a major support and resistance level.
• If the pin is pointing up against the resistance level we are looking to sell.
• If the pin is pointing down against the support level we are looking to buy.
• Set the 50% fib level of the pin bar to find your entry.
• Work out your risk for 2%-5% of the account.
• Set your entry order at the 50% level.
• Place your stop 5 pips + spread the other side of the pin bar (pointy side).
• Set your take profit level depending on which exit strategy you wish to use.
• Always bring your stop to break even once you are in profit by the same amount as you risked.
• If you trade is not triggered within that trading week then close the pending trade and look for a new one.
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Posted By all what you need to Best Forex at 3/16/2009 12:59:00 AM

Forex EA Expert Advisor part 10

EA,S Expert Advisor
get my full archive today more than 20.000 Forex Expert Advisors for free part 7
(right click and save as )
TakeProfit EA HiLoTradeAway.mq4
Terminator v2.0.mq4
test 5minRSI.mq4
Test EA Mouteki Bens mod.mq4
Test EA Mouteki Bens mod1.mq4
Test EA Mouteki.mq4
Test EA Mouteki1.mq4
The 20's [ea].mq4
The 20's v0.30 [ea].mq4
The 20's.mq4
The Reversal Bar.mq4
trading session.mq4
Trailing Stop v_tdavid.mq4
Trailing Stop v_tdavid1.mq4
Trendline Trader.mq4
Trendline Trader1.mq4
True Scalper V11 Sergey.mq4
True Scalper v4.mq4
TrueScalper_Ron_MT4_v02a TS.mq4
TSD - Looking after TSD.doc
TSD D1 4Majors.xls
TSD description.doc
TSD H4 4Majors.xls
TSD MT4 MR Trade 0 36.mq4
TSD Notes(05SEP05).doc
TSD Notes.doc
TSD OsMA fxid10t mod.mq4
TSD v.32 IBFX mini.mq4
TSD v.34 1hr trade.mq4
TSD v.34 IBFX mini.mq4
TSD v1 vs v2 p.1.doc
TSD v1 vs v2 p.2.doc
TSD v1 vs v2 p.3.doc
TSD v1 vs v2 p1.1.doc
TSD v1 vs v2 p1.2.doc
TSD v1 vs v2 p1.3.doc
TSD v1.1 MT3.xls
TSD v1.1.mq4
TSD v1.2 MT3.xls
TSD-MT4 instructions(01SEP05).doc
TSD-MT4 instructions(12SEP05).doc
TSD-MT4 instructions.doc
TSD-MT4- V1.mq4
TSD-MT4- V1b.mq4
TSD-MT4- V1c.mq4
TSD-TR MultiPairs 18526.xls
TSD-v11-MT4-JB-OsMA beta 0.1.mq4
TSD-v11-MT4-JB-OsMA beta 0.3.mq4
TSD-v11-MT4-JB-OsMA Daily.mq4
TSD-v11-MT4-JB-OsMA Jan 4 hour.mq4
TSD_TR_01 2_midweekswitch.mq4
TTM-Trend-Map V1 color mod.mq4
TTM-Trend-Map V1.mq4
tweezer EA.mq4
VarMovAvg V001.mq4
VarMovAvg V0011.mq4
Vegas Tunnel.mq4
vol adx and t3 rsi.mq4
volume trader (redux).mq4
volume trader (redux)1.mq4
Wilder's ADX.mq4
Woodies Pivots Modified Into Fib Pivots.mq4
ZeroLagEA-AIP v0.0.4.mq4
ZigZag Trendlines.mq4
ZZ SR TL.mq4

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The Forex Killer Forex Trading System

Forex Killer

If you're looking for an automated, forex trading signal generator that can help you improve your forex trading results, you've got to check out the Forex Killer Trading System.

One of the greatest problems that traders face is deciding when to enter a trade. This indecision as to whether the signal is "right" or "wrong" causes an incredible amount of uncertainty which can cause you to miss highly profitable trades!

With Forex Killer, you get a completely unbiased, automatic and mechanical trading signal generator that removes any uncertainty from taking a trade. This means you no longer will have to wonder "if only" you had taken that trade that blasted sky high into profits.

There's no more guessing whether you should take a trade because your trading system is completely and totally generated by the Forex Killer software. It's unemotional, it's unbiased, and it can be highly profitable for you.

Whether you are a day-trader or position trader, the Forex Killer System works great in finding you profitable trades to take. With the probability calculator, you can decide to take only trades that have a 70% or higher chance of being profitable!

By doing so, you are already using statistical analysis to put the odds in your favor. It does mean you might have to pass on some signals, but hey, you can still confirm those lower probability trades with any other filters or indicators you have. However, Forex Killer already takes a major load of finding profitable trades off your back!

Emotions are a tough thing to conquer, and it's the bane of many traders who could have gone on to make hundreds of thousands of dollars from trading the forex markets.

I've found that the Forex Killer can and does remove emotion and guesswork from trading, and when used right you can make hundreds of pips a month. Just check the trading results that Andreas and the Forex Killer team make every month!

With your purchase of Forex Killer, you get upgrades FREE for life. I've already upgraded my version twice, with improvements in the software each and every time.

What is the Forex Killer Trading System?

Forex Killer is a trading software developed by Andreas Kirschberger that uses statistical analysis to come up with trades that give you the best probability of profits.

To find out if you have a trade, you simply just input the last 10 closing prices of whichever time frame you are trading in. Click on Calculate to get a trading signal, and the algorithm will give you one of the three following signals:

  1. Buy
  2. Sell
  3. No Trade

When you get the signal, you simply open a trade in the direction that Forex Killer tells you, place your stop loss and your profit target. All you have to do next is to trail your stops and wait till you hit your profit target or get stopped out!

Here are some trades that Forex Killer identified:

A signal to BUY was generated on the GBPUSD 4H chart, and after opening a trade you would have been taken on a hugely profitable trend for almost 300 pips profit!

Here's what happened after the signal was given on the GBPUSD 4H chart:

Forex Killer GBPUSD 4H

Does the Forex Killer calculator work every time? No trading system does that, but it definitely is a great help in finding mechanical entries that leave no room for guessing. There's no discretion, and that's really useful to many traders who have a hard time with discretionary trading.

Here's another trade that Forex Killer identified for me:

This is a screen shot of Forex Killer Version 2.14 as of 27th December 2007:

Forex Killer Screenshot v2.14

The data for the above screen shot was taken at 27th December 2007. The result from that signal is shown in the next screen shot, dated 15th January 2008.

Forex Killer EURUSD Daily 20080115

Work You Still Have To Do With The Forex Killer Calculator

Once a signal has been generated with the Forex Killer, you simply open a market order with the recommended stops and profit targets for the time frame you're trading in. It can be from the weekly charts all the way down to even the 5 minute charts.

If you want more action, go down to a lower time frame. If you want to trade in a more relaxed manner, trade on a higher time frame.

While the Forex Killer is great to use for beginners, experienced traders will love using it to find trades into big killer trends. You could use Fibonacci Retracements and Expansions to find stop loss levels and potential profit targets, giving you larger profit targets and bigger profit potential.

Forex Killer definitely simplifies trading for those who want a mechanical trading system, while allowing experienced traders to enhance profit potential by adjusting profit targets in larger trends.

One of the best things about having the Forex Killer is you just pay a one-time fee to purchase the software (with lifetime free upgrades). You don't have to pay monthly fees for subscriptions to trading signal providers anymore!

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XRay Gomega Fx Trader Software

The New XRay Gomega Fx Trader Software Puts Your Forex Profits On Autopilot

What Gomega XRay Will Do For You:

* Filters out much of the sideways movement of the market where losses occur

* Allows you to trade virtually ALL currency pairs on ALL time-frames

* Produces VERY profitable results on complete auto-pilot, without user intervention after initial setup

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Trading For Beginners free free forex system

Trading For Beginners free free forex system

Congratulations on your great decision to learning how to trade.
This little ebook will probably be the best investment you will ever
make in your trading life.
Regardless of what financial instrument you will eventually trade,
the most important thing is learning what to do and what not to do.
There are many sharks out there who offer services to the novice
trader with the sole intention of taking their money.
In this book you will learn what the best thing to trade for you is,
the best way to trade it and how to trade it. I will not be promoting
any service or institution so I have no bias towards pointing you in
any particular direction.
The purpose of this book is to teach you the basics of trading and
how to make an informed decision on the best way to trade. We
will cover all the basics that most people are too afraid to ask for
fear of appearing silly. We will get into some advanced stuff later
but we will take it one step at a time.
Very Important: This book is for educational purposes only. I am
not suggesting or implying anywhere in the book that you should
rush out and invest your hard earned money in the financial
markets. In fact I will teach you how to trade on paper without
risking any of your hard-earned money first.
Never! Never! Never! Put money into anything you don't fully
understand. This is where the ebook comes in. All the basics you
need to know are included in the following chapters.
you are welcome to join as best forex group