Forex Philippines

When you think about forex trading and charts, what comes to mind is that, what ever time charts you are in the principles are still the same. A 1 minute chart will be the same as the daily chart. What I found out last week while I try to trade intraday chart is that. It’s not always the case.

I trade successfully on daily charts and I love the freedom it brings because sometimes, I don’t have to trade everyday and I get to do something else. While I wait for the next candle stick, it will take another day. That is why when I tried trading on smaller time frames. I never got any profit.

I don’t know. Maybe its just me. I still follow my rules but the fact that intraday trading is a whole new beast than the other charts. I realize that if I really want to be successful in this. I need to master one chart at a time.

Many books claiming that their method are great on any charts. I don’t know. Maybe just my strategy is not that good. That is why I bought some books for reading. I’ll post some of the things I learned and tested once I finished reading the book.

Date: 16-17 April, 2010

Place: Manila, Makati Shangri-La Hotel

Address: Ayala Avenue corner Makati Avenue, Makati City 1200 Philippines

Organizer: FINEXPO - is the producer of international exhibitions, forums and conferences worldwide.

PHILIPPINES FOREX EXPO 2010 will definitely interest you if you want to get a unique knowledge and obtain an overview of FOREX market; identify new products and application possibilities; exchange experiences and information; find out about the function and properties of certain products; make new business contacts.

PHILIPPINES FOREX EXPO 2010 gives you the opportunity to communicate with representatives of large companies, to learn the latest working outs concerning the subject of exhibition, buy specialized literature, as well as watch different entertaining shows.

Each participant can be sure about the professional approach to exhibition`s organization and each visitor about the individual approach of exponents to their person.

Exhibition topics:

The dynamic Event program educates attendees on all the latest technological advances in the FOREX services and meets the needs of each individual attendee by providing detailed information and solutions on such topics as: internet trading on the FOREX market, software (programs of analysis and risk-management, portfolio management), quick access lines, trading instruction on FOREX market, FOREX market tools, strategy and tactics on the FOREX market, FOREX market indexes, trading tactics, trading platforms and technical analysis and many more;

It also offers a variety of sessions that allow participants to discuss industry trends, hear expert views on key issues and learn about new products and needs.

The exhibit portion of the event complements the conference programming showcasing solutions that demonstrate how to succeed in the fast growing FOREX marketplace. The expo includes live demonstrations of the latest analytical and execution software and trading tools. It’s a great chance to meet with business experts face-to-face, learn the latest trends from industry leaders and get the insight you need to acquire business, expand relationships and enhance profitability.

We look forward to seeing you at our show in Manila !

Do you know how professional traders make millions? Here are some tips from them.

Jesse Livermore: The Worlds Greatest Stock Trader by Richard Smitten
1. Don’t Lose money
2. Always Establish a Stop
3. Keep Cash in reserve
4. Let the (Successful) Position ride…until you have a Clear Reason to Sell.
5 Take the Profits in cash…and place 50% in a separate account

Lessons From the Greatest Stock Traders of all Time by John Boik
1. Trade with the Trend
2. Cut Losses short
3. Let Profits run
4. Manage Risk

How Legendary Traders made Millions by John Boik

1. Understand the General Trend of the market
2. Use the Knowledge of History in your Study and Observation of the Markets
3. Use your Own Research and Don’t Listen to Others
4. Buy the Leaders
5. Buy only on Breakouts and Use a Pyramiding Strategy to add to those Winners
6 Cut Your Losses short
7. Hold on to your Winning Positions until Classic Sell Signals tell you to unload your Positions

Like any new forex trader, I was looking for that reversal bar that will end a trend. To my surprise, sometimes, its not a reversal pin bar which will end the trend. Sometimes, its an inside bar. Here is a screenshot of the culprit.

The inside of an inside bar can be a series of different bars. What you want to do is wait for the last bar which will tell you what will be the next trend. An inside bar is an indication of a new trend forming or an end of the trend for those who are already riding the wave and needs to get out.