How to take control

Forex Trading is not that easy, all FX traders before they enter this business, they think that they will be rich very quickly and make $20 000 in one or two weeks, but when they begin trading currencies they discover it is not true, it is not easy to make money especially when we work with money. Very tricky business, many of us think that there is a conspiracy planned by “THE BIG GUYS”, they know what we think what we plan to do and they do the opposite to steel our money, many times we think to make the opposite of our decision (if I see the market is going up then I will sell). And we begin searching for someone to help us making at least 200 or 300 pips a month, probably many of us work with signals advisors who simply took our money and probably do not help us making decent profit. Many of us thought stop trading many of us quit FX trading but I think most of us will not quit easily because we see in it a golden opportunity to have our own business and make our fortune.

Foreign exchange is an opportunity to make a fortune and in same time it is an opportunity to loose our money, we can make a fortune if we knew how to handle Forex, if we don’t know how to control Forex it will destroy us, so we must be stronger than it, and if we don’t know how to control it with our own hands it will destroy us too. So how I can be stronger than this ferocious beast? It is simply by learning, observing, and practicing. The FX market will not go anywhere it will be trending and ranging for ever, so learn from experienced traders how they became that good, observe charts and look for common points look for the reason why the price change direction, and when you discover the reason which influence a currency you will have in your hand the first tool that gives you control. And each new thing you discover try it on a demo account, see if it is valid and develop it. In this Forex article I am helping you to find your way, this Forex Article does not give you the fish but it teaches you fishing. There is no conspiracy theory in this business, no big or small guys, we loose because we don’t know, and the first thing we must do to become good traders is to admit that we don’t know and we must always learn.


In this Forex Article I will give some clues and I will leave you learn, observe and practice.

First of all you must know that you must use fundamental and technical analysis in conjunction, both complete each others, so don’t rely on one and leave the other. Fundamental is one of the reasons which influence the market, so if you are in a long trade and suddenly the trading currency went down so go and see if a report was released and see what its forecast and what was the released data and compare this data to your chart and you will have your first tool to control your business.

Second, in my opinion all the technical indicators didn’t help me at all, I tried all the combinations nothing work, and indicators describe the status of the market but don’t give you information about the next direction. I read a Forex article about a guy who describes his Forex Trading strategy in a Forex article, I was completely lost, he uses a combination of 12 indicators EMA340, SEMA890, EMA2900 etc… and he inserted FIBONACCI in it. I was totally lost. Even if his strategy worth 95% success I will not use it because I can control the market by using simpler techniques. So we don’t need to seek indicators, only one indicator I use the Bollinger Band which is the perfect weapon in my battle against forex trading. So I want you to look at the Bollinger Band and see how it affects a currency, focus on it and read well this forex article and you will discover a lot of things, and you will have your second tool.

Third, suppose you are in a long trade and suddenly for no reason the Forex Trading price went down, there are no released reports it just turned down, this is weird. But weird things are those we don’t understand, but if you observe your chart and go back several hours or days and drop a break line from higher swing points you will see that the price turns down because it reached that break line, you see there is no mystery. So this break line will be your Resistance and if price breaks it, it will continue going up, but going where and till when? …. observe very carefully and you will learn as I did. And no need for midnight or afternoon candles, be simple as you can, that beast is not as ferocious as you think. So breakout is your third tool. [Rpchost.com provides traders with very important tools so they can trade with better accuracy; check the free forex signal section in the Rpchost.com and you can access free fundamental signal].


Fourth, what timeframe to use, it is up to you to choose the suitable timeframe, H1, H4, D1 … I don’t know, compare the charts and you will see the suitable timeframe. Timeframe is important and when you find it you will have your Fourth tool. [Traders can also have access to the Global economic calendar Section in the Rpchost.com and get access to a very good tool which helps traders identify and confirm their trades when an economic report is released].


And that’s it, I repeat observe your charts and focus and think in these clues in this forex article and the more you think the more you discover, read forex article, learn strategies and get foreign exchange books.

I do good profit from my forex trading strategy because I program it, I gave my system the data and leave it do his job. This eliminates the fear factor and gave me more time to go out and have fun.

I hope this Forex Article gave some tips and techniques which help traders in their Foreign Exchange trades [Traders can access Rpchost.com Forex Forum and view the latest predictions, strategies and forecasts].

Traders can access also the Rpchost.com Forex Trading Guide, this section explain the services provided by Rpchost.com. Good Luck



About the author

Author: Joe Chalhoub
Address: Lebanon, Beirut

 

Any more details?

Joe, any more details you can provide on the way you trade? Do you intend to teach?

 

Maybe on the futue I will reveal my strategy to the public and I am sure I will, but in the mean time I prefer to present main techniques you must follow to have successfull trades, it is easy just follow the things I said above and think in them little and observe good your chart. Good Luck

 

Hey! Thanks Joe for that forex information. Are you an author of forex books?

 

is there such thing as forex books? i have not heard about that.

 

Go to Amazon.com and search in books.

Or, you could buy an ebook. There are lots of them that guarantee to make you tons and tons of money one you pay for their special secrets.

It says so on the internet, so it must be true.

 

the author Joe Chalhoub is incorrect in his statement that: "all FX traders before they enter this business, they think that they will be rich very quickly"