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mohsinqureshii

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Everything posted by mohsinqureshii

  1. Nice Work dude. it is really Simple and informative specially beginners. thanks for sharing .
  2. If you trade the forex markets you will know that there are important market moving economic data release almost every day. There will often be US related data releases between 8.30 and 10.00 (US time) which can have a major effect on the Dollar pairs and if you trade other currencies, then you also need to pay attention to specific news from that country. For Example, you need to keep an eye out for UK related news if trading one of the pound pairs. When trading forex you always need to be aware of what news releases are scheduled for each day, but it is possible to actually make consistent profits trading off the back of the news itself? Well in my opinion it is not possible to make sustainable profits trading these economic data releases simply because any subsequent movements after the announcements are often highly volatile and highly unpredictable. They are basically open to interpretation, and any subsequent movements are based on trader's initial reactions to the news, which in itself can be unpredictable. Sometimes you will find that straight after a news announcement, the market will move strongly in one direction or the other. this can either continue, or completely retrace and head in the opposite direction, making it impossible to trade. This is because there is often a knee-jerk reaction to the news, and then subsequent move a few minutes later once traders have fully digested the figure. You will sometimes find that seemingly good news for the Dollar, for example, will see a surprise sell off and vice versa. it is all about traders perception of the news and is basically too unpredictable to trade with any confidence so my advice would be to stay away from the economic data release, because there are plenty easier ways to profit from the forex market. Thanks for your Time...
  3. If you ask a hundred professional traders their strategy, you'd likely get a wide-range of responses. One of the best parts of markets, the fact that there is not Just one way of being a profitable trader. it can also be one of the most difficult for new traders to grasp. Observing a chart can lead to numerous ideas, one of which may give traders a clue for how they want to approach the market. Lets take, for instance, the daily chart of EUR/USD in the attachment. Going back to price action taking place in April of 2009 (the beginning of Box 1), I've identified 5 distinct periods on this chart. What do these Periods have in Common? One of traders' best Friends, "The Trend" is moving in one direction creating a clean, smooth movement with which I, as a Trader, can look to trade. IN Box 1-- the rampant run-up on the Euro. I want to look play long positions Only. Could Short positions have worked out in BOX 1? Maybe. But the bias appear to be to the upside (as price is continually thriving higher). As a trader, I want that or any potential biases that may be in the market to work in my favor, so i am only going to look to trade long positions during Box 1. This strong uptrend leads us into Box 2, Which is reversal of the previous up-trend to the downside. In Box 2, now we have clean movements to the downside. Just as we had above. It appears that the bias is to one side (however this time the bias is to the downside as opposed to the upside). Now, just because we have a clean trend, it does not mean that ALL price action will be to the down side. there will certainly be days in which prices go Up. we are just looking for the general trend: the tide of the ocean. After an extended run in Box 2 ,price finds support, and eventually moves back up (in Box 3). Although this movement is relatively short lived compared to what we were seeing in the previous 2 trends, we have the same strong movement in one direction that can give me a potential way of playing the trend. Boxes 4 and 5 give us more of the same thing; Price moving with what appears to be concerted bias in one direction, and this is where traders can look to stage their approach. While the future is unpredictable, and nobody knows what the price will be, trading with the trend can bring numerous potential benefits to the trader's approach. One of the beautiful parts of the FX market that does not Exist in Other markets. With over 40 Currency pairs available, there is almost always a clean Trend SOME WHERE that can be traded. Thank you very Much for Your time.
  4. there are so many other tools to help charting like RSI, Stochastic, Moving Avg etc and If you are talking about draw the charts then there is another very major Tool named "Equidistant Channel". Nice work after all:
  5. I want to share some candlestick patterns for some new traders who want to learn candlestick charting and i try to make it short and simple so that everyone understand and learn that. Unfortunately i could not attach pictures of formations with the text but they are attached with this post so check out there. Abandoned Baby: A rare Reversal Pattern characterized by a gap followed by a Doji, Which is then followed by another gap in the opposite direction. The Shadows on the Doji must completely gap below or above the shadows of the first and third day. Dark Cloud Cover: A bearish reversal pattern that continues the uptrend with a long white body. The next day opens at a new high then closes below the midpoint of the body of the first day. Doji: Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary, and the resulting candlestick looks like, either a cross, inverted cross, or plus sign. Doji Convey a sense of indecision or tug-of-war between buyers and sellers. Prices move above and below the opening level during the session, but close at or near the opening level. Downside Tasuki Gap: A continuation pattern with a long, black body followed by another black body that has gapped below the first one. The third day is white and opens within the body of second day, then closes in the gap between the first two days, but does not close the gap. Dragonfly Doji: A Doji where the open and close price are at the high of the day. Like other Doji days, this one normally appears at market turning points. Engulfing Pattern: A reversal Pattern that can be bearish or bullish, depending upon whether it appears at the end of an uptrend (bearish engulfing Pattern) or a downtrend (Bullish engulfing Pattern). The first day is characterized by a small body, followed by a day whose body completely engulfs the previous day's body. Evening Doji Star: A three day Bearish reversal pattern similar to the Evening star. The uptrend continues with a large white body. the next day opens higher, trades in a small range, then closes at its open (DOJI). The next day Closes below the midpoint of the first day. Evening Star: A bearish continuation pattern that continues an uptrend with a long white body day followed by a gaped up small body day , then a down close with the close below the midpoint of the first day. Falling Three Methods: A bearish continuation pattern. A long black body is followed by three small body days, each fully contained within the range of the high and low of he first day. the fifth day closes at a new low. Gravestone Doji: A doji line that develops when the Doji is at, or very near, the low of the day. Hammer: Hammer candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with along stick. if this candlestick forms during an advance, then it is called a hanging man. Hanging Man: Hanging Man candlesticks form when a security moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick looks like a square lollipop with a long stick. if this candlestick forms during a dicline,then it called a Hammer. Harami: A two day pattern that has a small body day completly contained within the range of previous body, and is the opposite color. Harami Cross: A two day pattern similar to the harami. the difference is that the last day is doji. Inverted hammer: A oneday bullish reversal pattern. In a downtrend, the open is lower, then it trades higher, but closes near its open, therefore looking like an inverted Lollipop. Long Day: A long day represents a large price move from open to close, where the length of the candle body is long. Long-Legged Doji: This candlestick has long upper and lower shadows with the Doji in the middle of the day;s trading range, clearly reflecting the indecision of traders. Long Shadows: Candlesticks with along upper shadow and a short lower shadow indicate the buyers dominated during the first part of the session bidding prices higher. conversely, candlesticks with long lower shadows and short upper shadows indicate the sellers dominated during the first part of the session. Marubozo: A candlestick with no shadow extending from the body at either the open, the close or at both. The name means close-croppes or close-cut in Japenese, though other interpretations refer to it as Bald or Shaven Head. Morning Doji Star: A three day bullish reversal pattern that is very similar to the morning star. the first day is in a downtrend with a long black body. The next day opens lower with a Doji that has a small trading range. the last day closes above the midpoint of the first day. Morning Star: A three day bullish reversal Pattern consisting of three candlesticks a long bodied black candle extending the current downtrend, a short middle candle that gapped down on the open, and a long-bodied white candle that gapped up on the open and closed above the midpoint of the body of the first day. Piercing Line: A bullish two day reversal pattern. The first day , in a downtrend, is a long black day. the next day opens at a new low, then closes above the midpoint of the body of the first day. Rising Three Methods: A bullish continuation pattern in which a long white body is followed by three small body days, each fully contained within the range of the high and low of the first day. the fifth day closes at a new high. Shooting Star: A single day pattern that can appear in an uptrend. It opens higher, trades much higher, then closes near its open. it looks just like the Inverted Hammer except that it is bearish. Short Day: A short day represents a small price move from open to close, where the length of the candle body is short. Spinning Top: Candlestick Lines that have small bodies with upper and lower shadows that exceed the length of the body. spinning tops signal indecision. Stars: A candlestick that gaps away from the previous candlestick is said to be in star position. depending on the previous candlestick, the star position candlestick gaps up or down and appears isolated from previous price action. Stick Sandwich: A bullish reversal pattern with two black bodies surrounding a white body. The Closing Prices of the two black bodies must be equal. A support prices is apparent and the opportunity for prices to reverse is quite good. Three Black Crows: A bearish reversal pattern consisting of three Consecutive long black bodies where each day closes at or near its low and opens within the body of the previous day. Three White Soldiers: A bullish reversal pattern consisting of three consecutive long white bodies. Each Should open within the previous body and the close should be near the high of the day. Upside Gap Two Crows: A three day bearish pattern that only happens in an uptrend. the first day is a long White body followed by a gapped open with the small black body remaining gapped above the first day. the third day is also a black day whose body is larger then the second day and engulfs it. The close of the last day is still above the first long white day.
  6. Nice Work for Beginners.....Thnx For Reposting it
  7. Generally i am in a seller of EUR/USD pair.but now a days little be careful about it.today i make smart profit and want to Float my profit for 1.2700.is it a good idea to float my profit? Need a Solid Reason to Cut my Profit here but Could'nt find yet.is there any one in buying Favor??
  8. It is really Nice thing to share with you..i just read the opinions and eagerly want to share mine.First of all i believe that closing is absolutely effective on long term analysis. i am using line charts for trading and all we know that line charts are totally based on closings. As far as my observation i believe that one level is break when it close below or above the level. beauty of line chart is that there is no shadows. so if i need to open or close a position than i will wait for various closings.if a level breaks in 30 M and 1H chart respectively it will indicate me that now there is more chances to break that level in 4H chart and 1Day chart which clear my mind to sit on a long or short direction.if it resist some levels i will think about to stand a side. So as far as my observation i believe that close of a Bar or Candle is not meaningless.
  9. In My personal views Gold posted its Short term Low on last Tuesday which was 1663. NOw if it will close above 1730 then it will be move again throughout 1800 or more.on 1730 its 50% retracement will be complete and if it will fail to break that level than we can open our sell again for 1670 or 1660.
  10. Today We share Some rules that A trader must Follow to in order to become a successful trader: RULE # 1:USE MONEY YOU CAN AFFORD TO LOSE If you are trading With funds 1) You need for some family projects, you are doomed to failure.this is because you wont be able to enjoy the mental freedom to make sound trading decisions. 2)your trading funds should be viewed as money you are willing to lose. your position should be careful analysed so you don't jeopardize other funds or assets. 3)one of the keys to successful trading is mental independance. 4)you have got to trade outside influencing factors and that means your trading freedom must not be influenced by the fear of losing money you really have earmarked for a specific need. RULE # 2: KNOW YOURSELF 1)you need an objective temperament, an ability to control emotions and carry a position without losing sleep. Although trading discipline can be developed, the successful traders are unemotional about their positions. 2)there are many exciting things happening in the market everyday so it takes a hard nosed type of attitude and an ability to stand above short term circumstances.If you do not have this attitude you will be changing your mind and your positions every few minutes. RULE # 3: START SMALL 1)Test your trading ability by making paper trades. then begin to trade small.start with mini account. 2) beginning traders should learn the mechanics of trading before graduating to more volatile contracts. RULE # 4:DO NOT OVER COMMIT 1)One rule of thumb is to keep three times the money in your margin account than is needed for that particular position.Reduce your position if necessary to confirm to that rule.this rule helps you avoid trading decisions based on the amount of money in your margin account. 2) If you are under margined you may be forced to liquidate a position early at a costly loss that could have been avoided. RULE # 5: ISOLATE YOUR TRADING FROM YOUR DESIRE FOR PROFIT. 1)do not hope for a move so much that your trade is based on hope. The successful trader is able to isolate his trading from his emotion. Although hope is a great virtue in other areas of life, it can be a real hindrance to a trader. 2)When hoping that the market will turn around in their favor beginners often violate basic trading rules. RULE # 6: DO NOT FORM NEW OPINIONS DURING TRADING HOURS. PRE PLAN YOUR TRADE. 1)decide upon a basic course of action, then do not let the ups and downs during the day upset your game plan, 2)Successful traders prefer to formulate a basic opinion before the markets open. then look for the proper time to execute a decision that has been made. apart from the emotion of the current market. 3)When a trader Completely Changes his directions during the trading day it can confuse him ad may result in generating lots of commissions with little profits. RULE # 7: TAKE A TRADING BREAK: 1)trading everyday begins to dull your life and relations with your family members. 2)A trading break helps you take a detached view of market and tends to give you a fresh look at yourself and the way you want to trade for the next several weeks. So take some time off and spend it with your loved ones. 3)A break also helps you see the market factors in a better perspective. RULE # 8: DO NOT FOLLOW THE CROWD. 1)successful traders like breathing room. when everyone seems to be long, they loo for a reason to be short. 2)Historically the Public tends to be wrong. successful traders feel uncomfortable when their position is popular with the buying public, specially small traders. 3) periodic government reports on the position of traders of various size provide "overcrowding" clues. Another clue is " contrary opinion". When most of the advisory services are Long, for example, the successful trader gets ready to move to the sideline or to take a short position. 4) Some services give a reading on market sentiment determined by compiling opinions from many advisory services. If 85% of the analsts are Bullish, this indicates an overbought situation. If less than 25% are bullish, this indicates an oversold condition. RULE # 9: BLOCK OUT OTHER OPINIONS. 1)do not influenced in your trading by what someone says, or you will continually change your mind. 2)once you have formed a basic opinion in the market direction, do not allow your self to be easily influenced. 3)You can always find someone who can give you what appear to be logical reasons for reversing your positions.if you listen to these outside views,you may be tempted to change your mind only to find later that holding your opinion would have been more profitable. RULE #10:WHEN YOU ARE NOT SURE, STAND ASIDE. 1)do not feel that you have to trade everyday, or even hold a position everyday.the beginning trader is tempted to trade or hold a position everyday and this costly tendency.the successful traders develop patience and discipline to wait for an opportunity. After they have taken a position and begin to feel uncomfortable, successful traders either reduce the size of the potion or liquidate. RULE # 11: NEVER ENTER YOUR ENTIRE POSITION AT ONE PRICE. 1)If you want tio be long certain number of lots you may want to do it 4 or more installments to see if the market is moving in your direction before you become totally committed. 2)Successful traders use the fundamentals and various technical signals to guide their trading, but the most important key is market action. the successful traders tend to wait for the market to verify that the initial position was a good one before putting on their full position. RULE # 12: NEVER ADD TO LOSING POSITION 1)Regardless of how confident you feel, if you establish a position that shows a loss, do not add to it. it may mean that you are out of step with market. some traders do not agree with this rule, believing in a "Price averaging" Technique. 2)The successful traders interviewed believe this is a risky technique and a way to mentally justify adding to a position that only magnifies a mistake. RULE #13: CUT YOUR LOSSES SHORT 1)When the market moves against you, admit your mistake by liquidating your position. you can be successful if you are right on less than 50% of your trades if you keep your losses short and let your profits run. 2)Some successful traders have only three or four profitable position out of ten because through discipline or stop loss orders they get out early when they are wrong. 3)one of the most common failures of new traders is their inability to admit they're wrong. 4)it takes a great deal of discipline to overcome the temptation to hang on to a loss, hoping that the market will turn in your favor. RULE # 14: LET YOUR PROFITS RUN. 1)cutting your profits short can be the cause of unsuccessful trading.the slogan "you never go broke taking a profit" does not apply. 2)The reason, your losses will at the best cancel out or at worst outweigh your profits unless you let your profits run. 3)how do you know when to take a profit? Some technical rules on reversals and other chart formations can help. you should never take a profit just for the sake of a profit. have a reason to close out profitable position. RULE # 15: LEARN TO LIKE LOSSES. 1)this rule says just the opposite of what many traders think. Learn to like losses because they are part of the business. 2)When you gain the emotional stability to accept a loss without it hurting your pride, you are on your way to becoming a successful trader. 3)the fear of taking a loss must be removed before you become a good trader. That's it for today..happy Trading
  11. Can Eur hit 1.2700 area again??
  12. Nice Work Dude..It is very Help full for Me....
  13. I think 2000 Euros are enough for start and you can trade in FX and start with Euro...Just keep an Eye on Euro zone Data's and trade for maximum 1 hour time frame.Buy or sell just 1 cfd.whenever you open a trade just put a stop loss and never do a trade without stop loss and make sure that your profit will be double of your stop loss..this is the strategy when i started trading..i hope it will also help you..
  14. Although some of the conditions that drove gold in the 1970’s also exist today – namely high inflation and negative real interest rates – today’s bull market is a very different animal What if gold Drop then what will be the facts..i just wanna know in detail.
  15. If you want to trade gold on Fundamentals then it is very Difficult for you....you should keep an eye on US Data and fundamentals..because gold trade against USD so if USD goes down it will goes Up or Bullish..if Dollar index Rise then it will Goes Down or Bearish... As we all know that Gold is a hot Product so if we wanna trade in it we need to know about a simple rule..which is "Demand and Supply" .all commodities depend on this.
  16. mohsinqureshii

    Gold

    I just want to Buy Gold Spot @ 1690 with the stop loss of @ 1685 and take Profit on 1705..is this good or bad...i just want a Second opinion...
  17. Trade yourself instead of running and spending on such websites,
  18. The best products to trade in would be commodities , and you should choose the major currency pairs to start with. Also you should keep in mind the risk before trading and you should start practicing the demo account as you are trading in real account. Many traders start it the way they are trading real accounts but later on they leave their demo account as they think it is worthless to spend their time on demo account where they have nothing to gain but in my view the best part spending time is judging the markets and having knowledge and testing your strategy. The best practice for you to trade with a stop loss - many traders do it when they are new to the markets but later on they leave practicing on demo accounts.
  19. Hey friends , I want to start Equities trading - especially in some US and UK Stocks , I have done forex and commodities a lot in past 5-6 years. Could any one suggest how could I start trading and from where I will get trading ideas. I am unable to understand the commission structure of the brokers yet. Kindly guide me.
  20. are you talking about 3700 $ per oz ? When ?
  21. I have traded in Hangseng Index with Selling Stop . Don't have an idea about other products but strategy to trade with selling stop always pay me. Selling Stop is not a bad idea but Beginners never understand selling stop. The best order to trade with is If Done order but there are only few brokers which offer If Done Orders and it is best match for the beginners.
  22. Gold might have a short term drop near 1680-90 this week.
  23. yes you can open and close trades immediately . Whenever you want.
  24. Something will happen in June as well
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