If you’re a trend trader like we are, you need volume in the marketplace, and you need it badly. If you know how to determine if enough of it is there for you to make a good trade, you can move mountains.
Followers of No Nonsense Forex know we trade the Daily chart, and we use indicators to make our entries. We also know I personally prefer to trade 20 minutes before the close of the daily candle. Does this mean you have to?
They will happen, and they will happen a lot. How you deal with these ultimately determines your future as a Forex trader.
This is how to backtest an indicator based on the No Nonsense Forex method of trading. This post is a response to all of the questions coming in on how to properly backtest all of the new indicators that listeners of the Forex Q&A Podcast have been discovering.
Most Forex Fibonacci strategies sound good at the very beginning. “Get in on the trend at a discounted price” Well frick yeah, where can I do that? “See, there are these repeating numbers that occur in nature. By using these patterns, we can better decide where price is going to retrace […]
If you gave yourself a monthly returns goal in Forex trading, you would self-sabotage yourself into the ground. Talking about monthly returns is glamorous and all, but it’s never something a real trader should have. Let’s talk about why in Episode 20 of the Forex Q&A Podcast.
So your trade is winning, now what? What you do right now determines the strength of your overall money management. The strength of your overall money management determines how high or low your account goes. Listen up.
Is the price of oil and/or gold an early indication for what might happen in the CAD or AUD? What about the Nikkei and the USD/JPY? It would be nice to know this in advance, no?
The Heikin Ashi indicator is the “Easy Button” of Forex trading. If you’re smart, this should be a red flag. It would be great if we could use it and win with it. Can we still do that?
“Fundamental Analysis is a key part of Forex trading”. Ummm, no it’s not. In fact, it gets in your way, eats up your time, and makes you lose more than you should. You disagree? Read up.