Author Bio

It is known that the majority of traders in the Forex market are using technical analysis as their only trading technique.  Perhaps it’s too difficult to track the GDP, interest rates and unemployment of every country.  But it’s very easy to simply follow rules – “if the MACD is above 0 and the SMA of 50 crosses the SMA of 23 then buy” – even a caveman can do that.

The problem is that most Forex traders don’t even spend the necessary time to learn the meaning of these technical indicators, what mathematical basis they rely on, what is the meaning of the parameters in them and who the heck this Fibonacci guy was. (That’s him on the right) As in the example above SMA and MACD are very closely related and they are both rely on a crossover of Moving Averages.

As a result of this Forex traders don’t develop themselves as traders they merely replicate a “system” and might I add “A bullet proof system that works in every market condition” and are extremely surprised when their precious system is not predicting the market as they had hoped.

There is also an inherent problem in Technical Analysis, namely that it relies on a single source of information, historical prices.  Since  many technical indicators rely on similar mathematical bases, they often generate the same prediction of the Forex market.  And this makes traders even more excited because as they say, “all my indicators are pointing in the same direction.”

The biggest problem in technical analysis is not the actual analysis but the way Forex traders implement it.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Author Bio

There’s been  an interesting thread going on in Currensee’s community over the last week or so.  In part,

About 3 years ago, 1 year after I started rewiring my brain to comprehend 4X, I was watching a tick chart while waiting to enter a trade, when I had an ePIPhany. What if the ticks were put to music. If it made sense then instead of laboring your eyeballs to decipher chart patterns, it would be much easier to listen for your “Favorite” chord progressions. [Currensee member Darryl W.]

You can log in to view the thread or apply to join Currensee’s private beta here.  You can also read about music and fx trading at Darren Tseng’s blog.  Many forex traders use different forms of Technical Analysis to discern patterns in the currency markets, such as Fibonacci, Coppock curves, MACD (Moving Average Convergence Divergence), Parabolic SAR (Support And Resistance) and more.  We see a lot of different trading strategies in the Currensee community, but so far none based on music.  Maybe Darren and Darryl will cook something up, so keep your eyes on your charts and your ears open to the music of the markets.  Until then, at Currensee towers, we’re listening to hip-hop artist Curren$y.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Author Bio

So you are alone in your basement in Johor Bahru or Barcelona or Brooklyn, and you really would love to know what other traders that look at the market just the way do are doing right now. You want to find someone that trades the same session as you, Asia, the same pairs, EUR/USD and  EUR/GBP, and uses Technical Analysis and Fibonacci to analyze the currency markets, and since you’ve been at this for quite a while, you don’t want to talk to a newbie but want to collaborate with someone with at least four years of trading experience.  And yes I mean real Forex experience, someone who really trades currency.  Not someone in a demo account but someone who is an active trader and has the scars to prove it.

Open up the community page inside Currensee.com and you will see a bunch of happy traders’ pictures and  some notations of the number of real trades and the number of members in their virtual trading team.  At a glance you can weed out the talkers from the real traders. You can scroll page by page or use the handy filter to sort the traders to find someone that is very compatible with your trading style.

Now you have a short list – read the bios, see their trading activity, maybe take a peek at their performance and find someone on a similar skill level and then go ahead and then take the plunge Send some invitations to some lucky traders to trade together with you.  As soon as they accept you won’t be alone in your basement anymore, you’ll be collaborating on real trades with real traders on Currensee.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Author Bio

Anyone who as been following the financial crisis in the past year has noticed the market has been driven mainly by the sentiment (and panic) of investors.

Since markets are driven by people, a few analytical methods have been developed over the years to better visualize human behavior as it’s being reflected on historical price charts, methods like Elliot Waves or Fibonacci attempt to use the movement in prices to predict human behavior and by predicting the behavior try to predict future price changes.

“Because humans are themselves rhythmical, their activities and decisions could be predicted in rhythms” – Ralph Nelson Elliot

The reality is that we are all different. Each one of us has a different agenda when trading, different expectation and different analysis of the market even though we are exposed to the same information; especially in a crisis situation where human behavior is anything but predictable.

Since human behavior plays an important role in market behavior, we’re developing a unique way of looking at the market by developing our own algorithm which computes a real-time market depth that can, at any time, be sliced by the trading style, technique, holding period etc.

New Feature: Market Depth

This means I can visualize how the day traders that specialize in the EUR/USD, have an average trade duration of 4 hours, and use the Fibonacci method see the market and how their analysis is changing in real time.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.