It is something we try to teach our children, but when it comes to trading there are plenty of traders that are not willing to do just this. Taking responsibility for your actions is one of… Read More

What is technical analysis and why should you care? Well, let’s start with the fact that what separates Forex from gambling is the fact the in Black Jack or poker, the hand you receive… Read More

As I was writing that title, I thought that it sounds nearly impossible, but actually, I am not promising immediate wealth or success, but rather, a slow paced and long lasting strategy that… Read More

If you are going to trade Forex, sooner or later you will hear about automated Forex systems. They are also called “robots”, “expert advisors”, and “auto trader… Read More

One of the most commonly overlooked places that a trader can find information as to the future direction of a Forex pair is in various financial markets around the world. Most Forex traders… Read More

If there is one thing that characterizes the Forex market and even differentiates it from other financial markets, it is the constant promise of wealth being issued to Forex traders by the b… Read More

If you have been studying the Forex market, you most likely know that it is the largest financial market on the globe, by far. You also probably know that anyone can trade Forex, but not wit… Read More

When choosing a Forex broker it is quite common to look into all of the features that are available, as it should directly affect your purchase decision. While this makes sense as… Read More

When trading the FX markets, it is absolutely vital that you know when to cut your losses. By being able to identify when it is time to get out of a trade, you can keep your losses small, wh… Read More

One of the most difficult questions that a trader will ask themselves is when to take profits. This is a very complex issue, and as such has no one correct answer. The correct way for you to… Read More

As investors fretted about last week during the negotiation process, the Greek government and private bondholders did not reach an agreement on a deal that would swap out debt whic… Read More

So many traders never find consistent profits in the markets as they are always looking for the next big thing or the “Holy Grail”. They never find a method and stick to. Instead… Read More

Price Action trading is a simple tool that traders can use to trade the Forex Market. Price Action trading is using the information that is presented to a trader in the form of raw data such… Read More

For a currency to be traded and for its price to move from one level to another, volume is required. Or put another way, volume is the gas in the tank of the trading machine. However, volume… Read More

My favourite Fibonacci level is 88.6% and it is something I have written about on DailyForex many times before. To recap, the 88.6% level is derived from taking the Fibonacci Golden Ratio, 6… Read More

Forex trading lends itself to gambling with the high reward and increased leverage available to traders. Likewise, most Forex traders have a similar mindset to gamblers - they are looking to… Read More

To successfully trade Price Action a trader must be able to identify if a market is trending or ranging. Once this has been assessed clear levels for support or resistance must be marked for… Read More

Many people come to Forex trading looking for the ultimate lifestyle of wealth and freedom. Whilst this level is by no means unattainable it is these exact thoughts that tend to bring the tr… Read More

When trading the Forex markets, or many other markets for that matter, there are three basic chart types. I should be pointed out that there other types of charts available, but almost all o… Read More

One of the primary differences between Forex traders who consistently lose money and Forex traders who consistently make money is that losing Forex traders are much more fixated on the money… Read More

The Pin Bar Reversal is a Price Action signal that can be found on nearly all markets and time frames. The term Pin Bar or Pinocchio Bar was originally termed by Price Action trader Martin P… Read More

The Bullish and Bearish Engulfing Bar are reversal Price Action signals. This means that engulfing bars can be used to catch potential reversals in the market. Engulfing Bars can b… Read More

The 2 Bar Reversal is a Price Action formation that can be found on any time frame on most markets. This Price Action signals is as it names states is a reversal signal. Being a reversal sig… Read More

In the last few Forex educational tutorials I have covered Price Action formations that act only as reversal signals. The Price Action signal we will discuss today can be played as eith… Read More

When learning about technical analysis, understanding why it is important can provide the motivation to understand the basics in a more comprehensive way. While the importance of technical a… Read More

While support and resistance is most often found at round whole numbers, there is also another form of both in the shape of what is known as a trend line. If a support level is a h… Read More

The absolutely most common and basic of all tools that are used in technical analysis is the concept of support and resistance. It is so common, that even traders that aren’t necessari… Read More

Back in the 1990s, when Homer Simpson was still funny and new retail traders were first discovering technical analysis, there was a greater focus on price action alone without the… Read More

One way that traders will look at charts is similar to a book. Essentially, the way a market moves tells a story of how the traders feel about a particular financial instrument. This is one… Read More

In previous articles we have covered price action setups that traders can use to enter the market. Today’s article is going to cover a pattern in Forex the traders can use to be on the… Read More

One of the hardest things in Forex trading is trying to make sense of the news and fundamental analysis that many websites put out every day. The great news for you is that you don’t n… Read More

One of the most overlooked candlestick formations is without a doubt the doji. The main reason for this is that it often is thought of as having very little to say, and isn’t… Read More

While there are entire books dedicated to the subject, over time most traders will find that there are only a few candlesticks that they tend to use. The dizzying array of possibilities can… Read More

Developed in the mid-20th century by Goichi Hosada, a Japanese journalist, the Ichimoku Kinko Hyo formula formarket charting was actually introduced to the public in 1968 after years of… Read More

Pivot points are one of the more common indicators that traders use in the Forex markets. This is especially true if the trader is an intraday trader, but loses a bit of importance for the l… Read More

In my last article on DailyForex here I wrote about the importance of a much overlooked chart pattern, the “Triangle”, and how it can produce accurate trades with excel… Read More

When most people come to Forex trading they imagine a career where they can make buckets of money and also have all the free time in the world. What tends to happen is these same t… Read More

Fibonacci is a tool that is very popular with many technical and price action traders. The Fibonacci theory was created by 13th century mathematician Leonardo Fibonacci. Fibonacci… Read More

The beginning of a new trend is often where the largest moves happen because at this point the new market sentiment has to be strong enough to overcome the previous trend. But because there… Read More

In last week’s article here we looked at how to construct trendlines and how to use them to find entries on new trends. This week we’re going to look at another exam… Read More

One of the key entry criteria we use in our Live Room is the Pin Bar. This is a simple bar or candle that is very easy to recognize visually. The definition that WE use in our live room f… Read More

For many traders long gone are the hopes of making millions of dollars over night, and all they wish to do is stop losing money and begin to turn their trading accounts around. There are man… Read More

In my previous articles on the Triangle pattern we looked at how Triangles can be used to find entry points in trends and breakouts. A colleague sent me an example of a live trade he… Read More

When nearly all traders come to trading they begin on the very small time frame charts such as the 5 min or 15 min. The main reason for this is because the markets are moving like crazy and… Read More

This Engulfing setup produces a simple but highly reliable trading strategy. Along with our Pin Bar Entry, it forms the core of our trading in the Live Room. The Engulfing candle pat… Read More

In last week’s article, we looked at a bullish Pin Bar followed immediately by a bullish Engulfing Entry system to pin a reversal on the AUD/USD Daily chart. Today, we’re… Read More

A few weeks ago, I wrote about the Pin Bar with a trade example that we captured in our live room. And last week I introduced the Engulfing Entry Setup, the second core entry… Read More

There is a very popular saying in the trading world “The trend is your friend”. Whilst you will hear a lot of traders spout these words, most don’t know why trading with th… Read More

There’s a common belief, and I believe a misconception, that in order to increase your Risk/Reward ratio, you have to sacrifice your winning percentage. In other words, if you want to… Read More

This morning (25 July as I write this) at 4:30am Eastern Time (9:30am UK time), the UK’s GDP figures were released, greatly affecting the GBP/USD pair. Most would recommend not… Read More

Trading is one the very few things in the world where very smart people do some very questionable things. One of these questionable moves a lot of traders is make is to forgo getting very go… Read More

The month of August for most traders around the world was a very quiet one. Most currency pairs tended to range and bob up and down in the on spot. Markets that have very little volatility o… Read More

Let’s take a look at the Pin Bar and how it pinned the right entry this week on a trendline. This is the Daily chart on the AUD/USD pair. Here, I was focussed on the price as it app… Read More

One of the hardest things in Forex trading is staying focused. There are so many services trying to take your attention that it can be a real battle staying in the zone. Services such as For… Read More

While the technical strategy that you choose to use trading Forex will depend heavily upon your personality, there are some general systems that you can use in order to try and deal with the… Read More

99.99% of traders start out looking for the best system that will be their holy grail and make them all their millions. Not many people stop to tell these traders (they most likely would not… Read More

Today’s quick article is going to cover 2 very simple price action reversal signals that any trader can learn and start spotting today. These two signals are not complicated and even t… Read More

One of the first things that I would say about using MetaTrader 4 indicators is that it is very easy to get inundated with hundreds of potential indicators as there is what seems t… Read More

One of the biggest mistakes the Forex traders make is that they tend to operate in a bit of a vacuum. A lot of the time, this is predicated upon the allure of Forex itself: When you start se… Read More

Predicting when a market is about to change directions is one of the most difficult things a trader can attempt to do. However, there are some telltale signs that will appear as the markets… Read More

A reoccurring theme that we will often see is that Forex traders tend to be too one-dimensional. This is probably because of the fact that they are often sold a bill of goods when it comes t… Read More

The elections in the US are behind us now and it seems like the balance of powers in Washington has not materially changed. The Democrats maintain control over the Senate and the Presidency… Read More

The Pin Bar is an easy to spot, objective setup that is consistent and produces a high-win rate. It’s a pure Price Action method: that means there’s no use of indicators bey… Read More

Commodity speculators often get a bad rap for manipulating the price of commodities that they trade in. Because the business of speculation isn't well understood, it's assumed that the specu… Read More

A lot of traders understand that price action trading is the art of looking at raw chart of a Forex pair, stock or instrument and using only the raw price data to decipher order flow from wh… Read More

Nearly every trader has heard of the MetaTrader4 trading platform, one of the most respected and popular trading platforms available, and one that is offered by over 450 Forex brokers worldw… Read More

Forex trading signals have become an extremely popular way for traders at all skill levels to receive trade ideas from other, more experienced traders. Many traders have also come to appreci… Read More

Gold is more than an expensive way to adorn one’s neck or fingers. It’s used for capping teeth and as a conductive material that will not corrode and will help transmit informati… Read More

Quite often when we see traders referring to “price action” we see them talking about one facet of a chart or one singular part of a price. For example; traders will quite often… Read More

This week we will be reviewing a Forex blog run and maintained by what has to be the youngest Forex trader. Samuel Cimamonti is only 16 years old and has already made himself a name as a For… Read More

Forex options are becoming more and more popular nowadays among Forex traders as an additional tool for short-term speculations which are based on technical events. Although binaries are sti… Read More

Forex trading has become one of the most popular investment vehicles in the market today. It is an easy financial instrument to understand and profits from winning signals can be be achieved… Read More

ECN or Market-Maker Broker? Debates over the suitability of ECN versus traditional market-making brokers tend to focus on the following issues, broadly as follows: • minimum deposit… Read More

Day trading has come a long way since its inception. It was introduced in 1975 as an acceptable mode of trading stocks when the United States Securities and Exchange Commission (SEC) ruled t… Read More

MetaTrader 4 and the recently introduced MetaTrader 5 are electronic trading signals used by online retail foreign Forex traders. The software consists of both a client and server component… Read More

Every financial market has its accompanying lingo. Words and phrases you will only see used in the context of that specific market. In Forex trading, there are pips and spreads and… Read More

With today’s fast paced trading options, choosing the best Forex robot has taken on a major role in Forex trading. The use of a Forex robot is basically one of the methods employed by… Read More

As the saying goes, “Patience is a virtue.” When it comes to investing, this is especially true. But although even the best traders and investors understand how important patienc… Read More

Trading Forex has become very popular of late. Disgruntled stock traders are moving their money out of the equity markets and into Forex markets. Indeed, Forex markets claim to make the inve… Read More

When it comes to investing, there are endless ways to scam a trader. Many brokers manage to get away with their fraudulent activities for a period of time. Then they are either ‘caught… Read More

Like anything else in life, if you believe in what you are doing, chances are higher that you will succeed in your attempts. Doing something in a lackluster, random manner often brings in dr… Read More

If you are new to day trading or have been in these markets for a long period of time, one this is clear: You have been exposed to the term “break-out” as a major market occurren… Read More

The best reason you will ever have for switching brokers will occur if you ever find that you have a good reason to fear for the safety of your deposit. If you ever ask your broker… Read More

You should always use some kind of hard stop loss order that is entered into your trading platform. When your stop losses are hit, it can feel like a slap in the face. If the price… Read More

These days, technical analysis is all the rage for day traders, but this trend does not mean trading news events should be avoided entirely. Instead, traders should wait for these events to… Read More

Most traders are familiar with the use of Fibonacci ratios as entry and take profit points, but few have considered placing stops with FIBS. Using unconventional methods for setting stop los… Read More

When choosing a Forex broker, it’s critical that you do your research and make sure the broker is reputable, reliable and regulated. When it comes to choosing a payment system, th… Read More

Since market conditions are always changing, traders will not only be able to implement a single trading strategy on each daily occasion. There will be many instances where no breakouts are… Read More

This article examines several characteristics of the Outside Bar Trading Strategy used during an outside bar momentum break. These qualities  include the conditions needed for a potenti… Read More

In this article you will learn the various aspects of the Pin Bar Trading Strategy used during a Pin Bar momentumbreak. Some of these features include the conditions needed for a potent… Read More

Many retail traders start out either restricting their trading to a few pairs, or trading every instrument they can get their hands on. Why is this? Taking the first example, there are freq… Read More

If a survey was handed out to retail Forex and Futures traders and one of the questions that was asked was “what method or system did they first trade with”, without a doubt the… Read More

If you are interested in trading binary options instead of or in addition to trading spot Forex, you need to think about the fact that what you need to do to achieve success is completely di… Read More

One of the most common technical indicators that is used by day traders in the financial markets can be seen in the Moving Average Convergence Divergence -- more commonly referred to as the… Read More

There is a lot of confusion and dispute over what exactly order flow trading is, let alone how it can be utilized as a profitable trading method. We will be exploring these subjects in a ser… Read More

Once we become familiar with the trading tools that are most common in the financial markets, it is important to start thinking about the ways these tools can be used. It is not enough to si… Read More

Last week I began a series of articles about Order Flow Trading. We defined Order Flow trading as a wide-ranging term for styles of trading that are all focused on anticipating where large b… Read More

Last week I wrote about the market phenomena that is the true “holy grail” of the Forex markets. The phenomena is the statistical tendency of market to produce excessive ret… Read More

This is a title that is hard to read or write without smiling. The “holy grail” is the mother of all Forex jokes and cynical constructions. Yet it exists, is staring us all in th… Read More

Last week I wrote a detailed statistical follow-up showing how a trading strategy based upon securing a few very large winners can be an extremely profitable model to follow. Today I am… Read More