Forex 10 Pips - a Simple Strategy for Gaining 10 Pips a Day

Author: Ann Pevey

Even a relatively new and inexperienced trader can consistently gain 10 or more pips a day on average -- by trading during the daily New York Close, or from 2 p.m to 4 p.m. U.S. Eastern time.

The Forex market does have certain habits and frequently repeats daily patterns of activity. As a new trader, and even as an experienced trader, if you spend enough time observing the market movements with respect to time of day, you will begin to see some regular predictable patterns.

One of the habits occurs in the New York afternoon, after 2 pm EST and into the final New York daily closing. This pattern is most frequently observed in the EUR/USD. At this time of the day, trading flows are commonly light with low volatility. If a trader observes regularly at this time, it becomes apparent that there tends to be a pivot which occurs sometime just after 2 pm EST. By "pivot," I am referring to a "pullback" or "retracement" from the overall daily trend.

In other words, if the trend of the day for the EUR/USD has been rising, then between 2 pm and 3:30 pm EST, the market will typically see a pullback lower, usually around 20 to 30 pips. On the other hand, if the daily trend for the EUR/USD has been downward, then after 2 pm a retracement of 20-30 pips higher is often observed.

By checking the market or checking the charts in the New York afternoon around 2 pm Eastern time, a new and even an inexperienced trader may recognize this pattern and then safely execute a high probability trade. If a person is available to trade at this time of day on a consistent basis, they could expect to gain an average of 10 or more pips a day with a fair amount of ease.

In closing, I must state the obvious disclaimer - that trading forex is a risky endeavor with no guarantees. Always trade with caution and never trade more than you can afford to lose. Spend time observing the market to recognize its patterns so you may make smart, high probability trades and minimize risks.

Article Source: http://www.articlesbase.com/currency-trading-articles/forex-10-pips-a-simple-strategy-for-gaining-10-pips-a-day-758900.html

About the Author

Have you discovered the forex strategy that is BEST for you? Visit Ann Pevey's site http://www.forextiptrading.net for information on forex strategies, worldwide forex news, free forex training videos and more - all about FOREX.

Forex Automatic - The Best Forex Automatic Robot For Consistent Profits

Author: Forex Advisor

Forex Automatic

There are a large share of forex automatic robots in the cash in on and selecting the best forex automatic robot is significantly more than testing them all individually for prevalent attributes. Remember so if a robot operates for one individual, it may not operated in the same manner for you. Expecting miracles is something that you ought to give up on and instead, focus on getting a robot that is planning to help ease the trading work, not do the entire endeavor altogether. Forex Automatic

Forex Maestro is acclaimed in many circles as one of the best forex trading robots available today. The reason for this distinction is because it combines two highly complex logics to develop a winning one that can help simplify forex trading for you.

Forex maestro combines artificial intelligence along with neural networks to give an algorithm that can account for many more parameters than its closest competitor. The artificial intelligence gives it a certain human nature that is needed for forex trading at times. The neural networks work scientifically and mathematically to determine the best markets that will earn you top dollar. Combining the two results, you are presented a report of top trading scripts which you can then personally narrow down and invest in.

To top all this, the software has a very simple interface that has a clutter free design and only presents options of relevance to you. It is intentionally designed to ensure that you can get it to work in a matter of minutes and also make a nifty little profit knowing the bare essential about forex trading. It is easy to install and comes with a comprehensive manual that smoothens the entire procedure which helps it earn the title of the best forex automatic trading robot.Forex Maestro is acclaimed in many circles as one of the best forex trading robots available today. The reason for this distinction is because it combines two highly complex logics to develop a winning one that can help simplify forex trading for you.

Forex maestro combines artificial intelligence along with neural networks to give an algorithm that can account for many more parameters than its closest competitor. The artificial intelligence gives it a certain human nature that is needed for forex trading at times. The neural networks work scientifically and mathematically to determine the best markets that will earn you top dollar. Combining the two results, you are presented a report of top trading scripts which you can then personally narrow down and invest in.

To top all this, the software has a very simple interface that has a clutter free design and only presents options of relevance to you. It is intentionally designed to ensure that you can get it to work in a matter of minutes and also make a nifty little profit knowing the bare essential about forex trading. It is easy to install and comes with a comprehensive manual that smoothens the entire procedure which helps it earn the title of the best forex automatic trading robot.Forex Maestro is acclaimed in many circles as one of the best forex trading robots available today. The reason for this distinction is because it combines two highly complex logics to develop a winning one that can help simplify forex trading for you. Forex Automatic

Forex maestro combines artificial intelligence along with neural networks to give an algorithm that can account for many more parameters than its closest competitor. The artificial intelligence gives it a certain human nature that is needed for forex trading at times. The neural networks work scientifically and mathematically to determine the best markets that will earn you top dollar. Combining the two results, you are presented a report of top trading scripts which you can then personally narrow down and invest in.

To top all this, the software has a very simple interface that has a clutter free design and only presents options of relevance to you. It is intentionally designed to ensure that you can get it to work in a matter of minutes and also make a nifty little profit knowing the bare essential about forex trading. It is easy to install and comes with a comprehensive manual that smoothens the entire procedure which helps it earn the title of the best forex automatic trading robot.Forex Maestro is acclaimed in many circles as one of the best forex trading robots available today. The reason for this distinction is because it combines two highly complex logics to develop a winning one that can help simplify forex trading for you.

Forex maestro combines artificial intelligence along with neural networks to give an algorithm that can account for many more parameters than its closest competitor. The artificial intelligence gives it a certain human nature that is needed for forex trading at times. The neural networks work scientifically and mathematically to determine the best markets that will earn you top dollar. Combining the two results, you are presented a report of top trading scripts which you can then personally narrow down and invest in. Forex Automatic

To top all this, the software has a very simple interface that has a clutter free design and only presents options of relevance to you. It is intentionally designed to ensure that you can get it to work in a matter of minutes and also make a nifty little profit knowing the bare essential about forex trading. It is easy to install and comes with a comprehensive manual that smoothens the entire procedure which helps it earn the title of the best forex automatic trading robot. Always want to have financial freedom? Check out Forex Automatic Program. It'll change your Life Forever!

Article Source: http://www.articlesbase.com/currency-trading-articles/forex-automatic-the-best-forex-automatic-robot-for-consistent-profits-1856504.html

About the Author

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Eur/Gbp Trade on 3hr charts

So i'm in on this trade, short, so lets see what happens. It looks like it's going to complete an "M" pattern and on that second bump there was a consolidation and it just broke out short and pulled back..

My main concern is the timing.. it feels early, and if i'm wrong on the timing.. well it's a bad trade and i'll probably lose money even if it does eventually go down. I'd give it a 40% chance i'll make it through this.. now that i think about it, why did i get in early? maybe i should've skipped this trade.. oh well.. at least my risk is small

the kind of crap that goes through the mind of a typical trader i guess

but the completion of the next bar should give me a pretty clear sign whether to stay in this trade or not.. unless it hits my stop loss at 0.8737

Consolidation and Breakouts

I'm going to try to switch between beginner guides and more advance guides between posts.. or just do whatever I feel like. But i think if i just start writing beginner guides all the time, I'm gonna start going crazy..

Consolidations - when prices aren't really going anywhere. It's just bouncing around within a certain price range. You can also call these Ranges, but who cares what they're called.. just gotta know what they look like.

Exhibit #1


Exhibit #2




.. and these consolidations are almost always followed by a Breakout



Now market behavior, especially in vary volatile currency pairs or even stocks, cycle between these two typical behaviors. They Consolidate and Breakout.. consolidate and breakout.. consolidate and breakout..



Price breaks out to a new territory and then takes a break and rests for a while. Then it breaks out again. Couple things you can imagine is that while the price is consolidating.. investors, traders, speculators whatever you want to call them are placing their bets... Some think it's going to break UP and.... some think it's going to break DOWN.

Lets pretend after a consolidation the price broke down...

The traders who bet it was going down is saying YES and they sell more.. or do nothing..

AND the traders who bet the price was going up is saying SHIZAS! Hell NO... and what do they do? Well they have to sell out of their positions, or risk losing even more money.

There is a double selling effect that's pushing the price down... there are a LOT of sellers at this time.. much more than buyers.. and if you are buying at this time, you sir, should not be trading

This isn't the only reason why the market is going down, but it sure is a big one.

Now how do you make money from this information? Trade consolidations and make sure you're one the right end when it breaks, lol. I'll see if i can make another article sometime in the future and put some strategies to effectively trade this beast.

Chart Reading for Beginners

If you are new to reading charts for Forex, then you've come to the right place.


Now this chart won't look the same for you unless you are using the broker I am using, but the basics are all the same and you'll see them.

1. Currencies - Pretty straight forward. You can pick different currency pairs and see what's going on. Think of these as if they were like stocks. You can pick ebay stock or switch to Apple stocks.. whatever, and see whats going on with their prices.

2. Time Frame - Usually you'll see 15min charts, 5min charts, 1 hour charts.. Whatever time frame you choose, that means each bar you see on the chart (those little green and red bars) represents that amount time.

In other words, if you pick 15min charts, then each one of those red and green bar represents 15min minutes. So 4 bars represents.. 1 hour.

3. Prices - The price the currency pair is trading at. How are these prices calculated? Who cares.. all you need to know is sell if you think the price is going down.. and buy if you think the price is going up.


Now lets look at what the hell those little green and red bars mean. The two most popular type of charts are the Bar charts and the Candlestick charts. I personally use candle stick because they just look better. Either way they both tell the same story.

Bar Chart:


Candlestick Chart:






What do those little green/red bars mean? Let's look at the candle stick chart first.




Let's pretend that you are looking at the 1 hour charts. So each of these bars represent 1 hour. The green bar shows in the beginning of the 1 hour period the price started at 1.0404 area (open) and then at the end of that hour it ended at 1.0415 (close). The open and close part of the candlestick represent what the price started at and what the price ended at.

The long wick on each end shows the range of the price movement within the hour. So looking at that picture, that candlestick will tell us that in the beginning of the hour the price started at 1.0404.. then it closed at 1.0415 at the end of the hour. An within that hour the price moved as high as 1.0425 and as low as 1.0396.

If we look the red candlestick, it is pretty much the same thing except for the fact that the open is at the top and the close is at the bottom. In the picture shown below the price started at 1.4899 area and then ended at 1.4862 area.

A bar chart is pretty similiar to a candlestick except for the way it shows the open and close.

The opening price is shown by the horizontal line of the left side.. and the close price is shown by the horizontal line of the right side.

I tried to explain this as best as I can and hopefully it all makes sense. If you have any questions let me know just email me or something.

My first Forex Post

So I thought I'd share some of my experiences in the forex market today... Made about $206 I believe in the USD/JPY 30 min charts.... yeah.. it may seem like $200 a day is nothing, but just to let you know a day like this for me is pretty rare. I'll be lucky to see a $200 day once every 2 weeks.

Anyways on the 30min charts the second hump you see right before I put on my trade, it was sitting on a nice 90.50 round number, 50 fibonacci retracement, and previous support zone. As you can see I got out way early but I was more concerned that it would start to consolidate at this zone so I got out.... Wuss... actually I played this trade pretty smart.

There's a couple more things I saw in this chart that gave me some hints that it was going south but I don't feel like explaining because it'll take forever. Maybe one day I'll explain all the stuff in here.

Sorry about the trading lingo language whatever.. if you have no idea what I'm talking about just let me know, I'll try to explain it as best as I can because I do want to make this site noob friendly eventually.