Category Archives: Forex University

forex university

Elliott Wave International’s Understanding the Fed eBook is now available

elliott_wave_international-logo.gif

Dear reader,

My friends at Elliott Wave International have just released a free 34-page eBook, Understanding the Fed. It’s the free report the Federal Reserve doesn’t want you to read!

This eye-opening free report, which represents more than 10 years of research by Robert Prechter, goes beyond the Fed’s history and government mandate; it digs into the Fed’s real motivations for being the United States’ “lender of last resort.” In this 34-page report, you’ll discover how the Fed’s actions, combined with public outrage, may ultimately lead to its demise, plus much more about its secret activities and how it affects your money.

Download your free copy of EWI’s Understanding the Fed eBook, here.

Warmest regards,
Alan
———-
About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Bill Poulos’s Forex Profit Accelerator Group Coaching Program – Questions Answered

Since alerting you to the opening of Bill Poulos’s Forex Profit
Accelerator Group Coaching Program on Monday, I’ve received
emails requesting more info on it.

Well, I just got something better.

It’s a 8 minute, 55 second video preview of an actual live group
coaching session held just last week for one of Bill’s other
coaching classes so you can see what his actual students see.

Check it out here:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f92

(please allow the page a few seconds to load & then press the
play button)

You’ll get a taste of what’s in store for you when you join Bill
as a student of his new program before the doors close next
Tuesday, March 16th, at 11:59pm Eastern (New York time).

Good Trading!

p.s. It looks like Bill’s member’s website preview is still
open, too, where you can pick up some extra complimentary bonus
video training, and also get access to his “Pip Feeder” service.
I anticipate he’ll pull this offline to coincide with the
closing of his program next Tuesday, so make sure you check it
out here:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f93

Your username is: readyto
Your password is: enroll

Your chance to be mentored in Forex by a 35+ year market veteran

It’s time.

Over the past week, trader Bill Poulos “spilled the beans” on
the top 4 problems his coaching students face with their Forex
trading…

-and then he showed 10,000+ regular folks just like you how to
solve those problems on a special “three-peat” online training
session.

As of this writing, 4,075 of those that attended his training
have already applied for more information on his brand new
“Forex Profit Accelerator Group Coaching Program”, which just
went live today…

-but the sobering reality is that there’s no way Bill can take
on that many new students, so if you have ANY interest in
finally becoming an Independent Master Forex Trader, you need to
move quickly.

——————————-
YES, 20 MINUTES OR LESS A NIGHT
——————————-

I’ve seen a LOT of Forex educational programs online, and here’s
what stands out about what Bill’s doing with this time-limited
program:

1. He has a totally unique twist on Forex trading that he
specifically designed for BUSY PEOPLE. Essentially, he shows you
how to treat the 24-hour Forex markets as “end of day”
markets… so you make all your trading decisions for the day in
20 minutes or less…

2. He’s giving you most of the benefits of 1-on-1 coaching
(which can cost $15,000… $20,000… or MORE) at a FRACTION of
that investment…

3. PLUS… he’s throwing in his time-tested Forex Profit
Accelerator home study course if you’re able to get into his
group coaching program before it closes…

All-in-all, it’s one of the most generous, solid Forex training
programs I’ve ever seen.

So if you want to:

* Quadruple your profit potential…

* Start with a $500 trading account…

* Trade in 20 minutes or less…

* Enjoy high-probability, lower-risk trades…

* Never have to suffer huge losses…

* and finally become an Independent Master Forex Trader…

…then check out the open enrollment letter Bill put together
for you:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f91

If you think 2010 is YOUR YEAR for finally mastering Forex,
I hope you get into this program in time before it closes.

Good Trading!

p.s. I’ve seen this developer’s trading programs disappear in a
matter of days in the past, and it’s a near certainty it will
happen again… so IF YOU VALUE YOUR TIME, I really urge you to
check out his letter here, and then ask yourself how what he has
to say stacks up against how YOU currently trade:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f91

Free “end-of-day” Forex group coaching program

Dear trader,

Here’s the scoop…

TOMORROW, on Monday, March 8th, 2010, the doors finally open to
35+ year market veteran Bill Poulos’s brand new “end-of-day”
Forex group coaching program.

As is par for the course with Bill’s releases, he’s limited the
number of new students he lets in to the program.

So to further help “weed out” the tire-kickers, Bill just
released a TON of extra Forex training materials that he put on
a special Member’s Website Preview for you.

Here are just a few of the goodies you’ll get on the preview
site, beginning TODAY:

** Preview access to his PIP FEEDER service where you can get
daily lists of the Forex pairs that have met his rigorous
trade alert criteria. In fact, these are Forex pairs that
have a high probability of entering into potentially
profitable positions any day now. He’ll eventually be
charging $197/mo for this service, but you can see a sneak
peek for a few days.

** The “Pip Vault”, which contains actual Forex trade example
“screen capture” videos, so you can see exactly how you
can trade in less then 20 minutes a night.

** Day-by-day “trade diaries” that show you the trading
decisions Bill has made each night on some really
great trades (you’ll also see a trade that’s not really going
anywhere yet, and how he manages that situation).

** Previews of the actual CD-ROMs that ship with the course so
you can see exactly the type of material that’s on them.

** and a TON more…

But don’t take my word for it. Go ahead and check it out now by
visiting the web page here now:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f90

Your username is: readyto
Your password is: enroll

Good Trading!

p.s. This complimentary preview access will be expiring in a few
days, and likely taken offline, so I urge you to get in now
while you can if you have any interest learning how to
dramatically up your “pip potential” while saving hours a day at
the same time.

Get in here:

http://www.smartforextraining.com/y/?i=773362&u=1&l=f90

Forex Smart Start Profit Strategies

(This post contains your access instructions
to a ‘closed-door’ Forex group coaching
training session on Wednesday.)

Over the past year, one of the top Forex educators has
quietly coached a handful of regular folks just like you on how
to become what he calls “Independent Master Forex Traders”.

His goal is to take average, ordinary traders who are among the
90% that consistently LOSE…

-and turn them into independently-thinking, precision trading
MACHINES that are among the 10%… the 5%… or even the top 1%
of Forex traders on the planet.

But here’s the problem for most people: 1-on-1 coaching can be
downright EXPENSIVE, like $15,000… $20,000… or MORE.

That’s just not realistic for most people.

HOWEVER… what if you could be a “fly on the wall”, listening
in to a private, closed-door Forex coaching training session,
picking up the “tried & true” profit strategies the “elite” hold
close to their vest…

Well, that’s what’s happening on Wednesday, March 3rd.

This 35+ year market veteran is giving you a sneak peek inside
his “trading vault” on a brand new, complimentary training
session he calls:

>>> Forex Smart Start Profit Strategies <<<

He yanked his most popular Forex tips & techniques straight out
of his high-end coaching program, and he’ll be revealing them
all you to on Wednesday.

You’ll learn the top 4 instant tweaks you can make TODAY to
protect & grow your Forex portfolio FOREVER, including:

* How the crummy economy & chaotic world events create MASSIVE
amounts of profit potential in the Forex markets (including at
least 5,604 potential pips in just the past few months using
these specialized techniques)…

* How to dramatically reduce your “time in the trenches” trading
Forex by spending only 20 minutes a day. These 2 discoveries
make it all possible…

* How to reduce your risk in a trade to ZERO with this simple
profit-taking trick (HINT: it’s the complete opposite of how
most traders think about going after a profit)…

* How to automatically get an edge over other traders by
entering the market at these high-probability “sweet spots”…

* The telltale signs a market “hurricane” is about to hit, & how
to protect your portfolio by avoiding these dangerous & risky
market conditions…

* The simple, time-saving, step-by-step mechanics of placing a
trade using real broker-provided trading software…

…and much, much more…

The information in this training session is so critical, that
it’s being held 3 different times on Wednesday, March 3rd in
order to fit your schedule:

* 12:00pm Eastern (New York Time)
* 4:00pm Eastern (New York Time)
* 9:00pm Eastern (New York Time)

WARNING: Each session can only accommodate a limited number of
attendees, so to reserve your place, make sure you register here
right away:

http://www.forextrainingmaterial.com/y/?i=773362&u=1&l=f85

Good Trading!

p.s. I don’t think I’m supposed to tell you this, but I found
out that if you attend any one of the 3 training sessions on
Wednesday, you’ll get a chance to download some additional
complimentary training videos & ‘action manuals’ torn straight
from the presenter’s high-end coaching program.

Pick your time & grab your spot here:

http://www.forextrainingmaterial.com/y/?i=773362&u=1&l=f85

(if you see a blank page, that means the registrations are full)

Swing Trading vs. Day Trading

Greetings traders!

Swing trading vs. day trading, does it have to be one or the other?

The trend-setters behind the ‘Are You A Forex Genius?’ Quiz say no.

Swing trading gives you flexibility and doesn’t require hours of your
attention. But if you’re a trading junky and you don’t want to give up the
thrill you get from day trading – you don’t have to.

Swing trading can be the perfect complement to your day trading strategy.

http://www.netpicks.com/cmd.php?af=1004071&u=http://ultimateswingtrader.com/blog/easy-start-to-the-week/

One of the most valuable benefits of adding a swing trading strategy into
your trade plan is it gives you the freedom to spend your time the way you
want to.

If you don’t have time to day trade, or the day trading markets aren’t
moving as favorably – you can choose not to day trade and still have a
profitable swing trade for the day.

http://www.netpicks.com/cmd.php?af=1004071&u=http://ultimateswingtrader.com/blog/easy-start-to-the-week/

Diversification is key, right?

Good Trading,
Alan

P.S. Are you craving more info on how you can add swing trading to your
trade plan?

Join me at the Ultimate Swing Trader webinar. I’ll be listening-in on
Wednesday, January 20th at 12pm EST U.S. (New York Time) / 9am PST / 5:00
GMT.

Register now:
http://www.netpicks.com/cmd.php?af=1004071&u=http://ultimateswingtrader.com/readysetgo

Pivot Point Trading

Gold Dollar Sign

You are going to love this lesson. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only a few simple calculations.

The pivot point is the level at which the market direction changes for the day. Using some simple arithmetic and the previous days high, low and close, a series of points are derived. These points can be critical support and resistance levels.The pivot level and levels calculated from that are collectively known as pivot levels.

Every day the market you are following has an open, high, low and a close for the day (some markets like forex are 24 hours but generally use 5pm EST as the open and close). This information basically contains all the data you need to calculate the pivot levels.

The reason pivot point trading is so popular is that pivot points are predictive as opposed to lagging. You use the information of the previous day to calculate potential turning points for the day you are about to trade (present day).

Because so many traders follow pivot points you will often find that the market reacts at these levels. This give you an opportunity to trade.

Before I go into how you calculate pivot points, I just want to point out that I have put an online calculator and a really neat desktop version that you can download for free HERE

If you would rather work the pivot points out by yourself, the formula I use is below:

Resistance 3 = High + 2*(Pivot – Low)
Resistance 2 = Pivot + (R1 – S1)
Resistance 1 = 2 * Pivot – Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot – High
Support 2 = Pivot – (R1 – S1)
Support 3 = Low – 2*(High – Pivot)

As you can see from the above formula, just by having the previous days high, low and close you eventually finish up with 7 points, 3 resistance levels, 3 support levels and the actual pivot point.

If the market opens above the pivot point then the bias for the day is for long trades as long as price remains above the pivot point. If the market opens below the pivot point then the bias for the day is for short trades as long as the market remains below the pivot point.

The three most important pivot points are R1, S1 and the actual pivot point.

The general idea behind trading pivot points is to look for a reversal or break of R1 or S1. By the time the market reaches R2,R3 or S2,S3 the market will already be overbought or oversold and these levels should be used for exits rather than entries.

A perfect set up would be for the market to open above the pivot level and then stall slightly at R1 then go on to R2. You would enter on a break of R1 with a target of R2 and if the market was really strong close half at R2 and target R3 with the remainder of your position.

This all looks pretty straight forward.

Unfortunately life is not that simple and we have to deal with each trading day the best way we can. I have picked a day at random from last week and what follows are some ideas on how you could have traded that day using pivot points.
On the 12th August 04 the Euro/Dollar (EUR/USD) had the following:
High – 1.2297
Low – 1.2213
Close – 1.2249

This gave us:

Resistance 3 = 1.2377
Resistance 2 = 1.2337
Resistance 1 = 1.2293
Pivot Point = 1.2253
Support 1 = 1.2209
Support 2 = 1.2169
Support 3 = 1.2125

Have a look at the 5 minute chart below

forex

The green line is the pivot point. The blue lines are resistance levels R1,R2 and R3. The red lines are support levels S1,S2 and S3.

There are loads of ways to trade this day using pivot points but I shall walk you through a few of them and discuss why some are good in certain situations and why some are bad.

The Breakout Trade

At the beginning of the day we were below the pivot point, so our bias is for short trades. A channel formed so you would be looking for a break out of the channel, preferably to the downside. In this type of trade you would have your sell entry order just below the lower channel line with a stop order just above the upper channel line and a target of S1. The problem on this day was that, S1 was very close to the breakout level and there was just not enough meat in the trade (13 pips). This cab be a good entry technique for you. Just because it was not suitable this day, does not mean it will not be suitable the next day.

fx

The Pullback Trade

This is one of my favorite set ups. The market passes through S1 and then pulls back. An entry order is placed below support, which in this case was the most recent low before the pullback. A stop is then placed above the pullback (the most recent high – peak) and a target set for S2. The problem again, on this day was that the target of S2 was to close, and the market never took out the previous support, which tells us that the market sentiment is beginning to change.

bid-ask

Advanced

As I mentioned earlier, there are lots of ways to trade with pivot points. A more advanced method is to use the cross of two moving averages as a confirmation of a breakout. You can even use combinations of indicators to help you make a decision. It might be the cross of two averages and also MACD must be in buy mode.

In the example below the market passed through S1 and then retraced to the S1 line again. It then formed a channel. At around this time we had a cross of the averages, MACD signaled buy and there was a breakout of the channel line. This gave a great signal to go long with a target of the original pivot line.

Mess around with a few of your favorite indicators to help determine an entry around a pivot level but remember the signal is a break of a level and the indicators are just confirmation.

interbank

We haven’t even got into patterns around pivot levels or failures but that is not the point of this lesson. I just want to introduce another possible way for you to trade.

Lesson brought to you by the Surefire Trading Challenge. Click here to get more.

Forex Video: Which Elliott Waves Are Best For Trading?

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Hey guys. I’ve got an educational forex video to share with you. It comes from one of my favorite market analysis and forecasting companies – Elliott Wave International. As one of their members I was sent this video and thought it would be cool to share it with the rest of you. Here is a little bit of info about this video (taken from their intro page):

A few times a year, Elliott Wave International’s Senior Currency Strategist Jim Martens holds live webinars for subscribers of his Currency Specialty Service, demonstrating how you can apply his forecasts in forex trading.

Jim Martens was first introduced to the Wave Principle in 1985. Since then, he’s built an impressive resume, having worked for such firms as Bank of New York and Nexus Capital Limited, a George Soros-affiliated hedge fund. Since 2005, Jim has been EWI’s senior currencies analyst and one of the best teachers of the method we have.

This video is a free 6-minute classic clip from one of Jim’s last year’s webinars, where he answers two of the most common questions his subscribers ask him: What’s the best way to learn the Elliott Wave Principle? Which Elliott waves are best for trading forex?

You can view the video by registering as a free EWI member. Here is the video link:

http://www.elliottwave.com/a.asp?url=features/default.aspx?cat=fex&dy=nth&cn=8afb

Enjoy!

Alan