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So, it's time for the second part of my article. Today we'll look at some great methods of analysis of the Forex market, which give gorgeous results - about 50 to 50!1. Analysis of candlesticks. Familiar to all traders candlestick chart has come to us from ancient Japan, it was originally used for the analysis of the rice market. In those days, and there were candlestick patterns such as "bearish engulfing", "shooting star", "hangman", "hammer", "Harami" and many others). Maybe in those days - all of these candlestick patterns work, I admit that option. Now - unfortunately not, we can only state the fact of the graph of any candlestick formations - and it will not tell us about the future behavior of prices. Candlestick chart informative, very comfortable showing us the past behavior of prices, and in the end - just look kawaii. That's all.2. Wave analysis. Widely known as wave analysis, in which the price movement is divided into cycles, which in turn are divided into waves. All traders know people like Gann, Elliott, and others. Maybe Gann and Elliot could really earn something on their wave theories, but apart from them - it did not work more at anybody. The key problem here is …
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Jester avatar
Jester 29 July

2 seediee Trading by BB like any other indicator is like a driving the car forward looking to the rear view mirror :)

Maksim_Chelnokov avatar

Thanks guys!))


so good

kudryaviy avatar
kudryaviy 20 Sep.


kudryaviy avatar
kudryaviy 20 Sep.

And I cant put like. May be there is some problem.

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I have been trading Forex for several years, and I want to share my opinion on what trading methods give a higher percentage of winning trades. Let's look at the popular methods of trading. 1. Moving averages cross (SMA 7 crosses SMA 14 and SMA 30, SMA 5 crosses SMA 75 and SMA 85), and so on. These strategies are built on same principle - when the faster moving average crosses the slower moving average - it is a signal to buy or sell. Forget about it...This is not a signal. Moving averages are lagging too, and at that moment when you got the signal to enter into a trade with them - the signal is already hopelessly out of date, and the probability that it is a signal to profitable trade - only 50 to 50. Very nice this trading method looks only at the history...but not in reality. 2. Oscillators, indicators overbought-oversold, . Such as stochastic, RSI, Williams' Percent Range and so on. Is considered a classic of the genre, you have to sell when the indicator is in overbought and buy when the indicator is in the oversold zone. It really works! In half of the cases ...Like many other types of indicators - the oscillators are good for the market, which runs in the channel. Bought…
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Maksim_Chelnokov avatar

Thank you Victor)

Eugene1 avatar
Eugene1 20 July

very useful

WaelStrategy avatar

Great Maxim , you have Good Critical Eyes

FxMidaso avatar
FxMidaso 27 July

Nice article Maksim.
It looks like all of us are following the same path, finding the holy grail.
I think the most important part will be to try, learn, try, learn until you find a system that works.
Then, learn to control your mind and greed, that should bring us closer to the holy grail, if there is one.

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Role of Central Banks in Currency rates II In continuation with the previous article, role of CBs decides the movement and even it changes the trend. In continuation with the previous article, role of CBs decides the movement and even it changes the trend. Infact some CBs are proactive and some CBs some what late in setting the policy. SNB had come forward independently and fixed EUR / CHF floor of 1.2. At that time there was only huge movements in that pair and was threatening and there was a fear of deflation. But once the floor was put in place, the pair was very steady and it helped the swiss economy in a very big way . Same with BOJ. But in real terms they lagged some what due to fluid political scene. Once the strong government was elected and the PM Abe has indicated his desire to defeat the YEN strength, it is weakening day by day. Here no indicators work. No Holy grail here! Thatswhy even all the pull backs till now are shallow and prices are quickly jumping up. It is a trend change. Prices will correct for a overbought level. But only to some extent. If it has to correct technically, EUR/JPY needs to go 117, USD/JPY to 82 to name a few. Today’s sudden jump in al…
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Cactis avatar
Cactis 7 Feb.


Likerty avatar
Likerty 8 Feb.

You could expand more on the matter..

asad avatar
asad 10 Feb.

Good article. But the best one is if the chart enclosed or attached for supporting the concerned description. Ok, this is good supporting article to my next trading. Thank you friend.

doctortyby avatar
doctortyby 18 Feb.

Very interesting subject for me, but I would have liked to see more information on this article. The role of CB in Currency Rates is to keep them into certain ranges that would satisfy both commercials and speculators :)

SpecialFX avatar
SpecialFX 21 Feb.

It has to be said that the 1.20 floor was not the first one the SNB tried to put on the EUR/CHF, there were actually a few along the way that simply failed. The same with Japan, that many times intervened to weaken the yen, without any success at all. In my opinion Central Banks are not as powerful as people assume they are, they fail more times than they succeed. Just look at the way George Soros destroyed the pound in 1992... :)

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Ironically, being a slave of trading performance puts people with that mindset in a downhill movement. It’s a paradox of the financial world that in order to succeed and have the things that attracted you to the idea of having it all in the first place, you have to be humble and forget about being better than the other guy, or richer. Speaking of paradoxes, there’s something called the Omnipotence Paradox which can be very humbling once you give it some time and thought. Can an omnipotent being create a stone that’s heavy enough so this same being can’t lift it from the ground? If he can create the stone, that implies he won’t be able to lift it, and therefore he won’t be omnipotent anymore. If he can’t create it, then it’s the same principle, he’s not omnipotent. The lesson here is: there are no absolutes, especially in trading. In other words, trading is not perfect and it will never be, so stop looking for perfect answers. The Holy Grail Paradox All of this conversation and pursuit of the Holy Grail is very amusing sometimes. If you ask a professional trader at the top of his game (I did) he’ll tell you the Holy Grail is hard work. If you’re looking for some magic signal or…
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eagl avatar
eagl 6 Oct.

Good stuff. It may sound cliche but ultimately what works in trading comes really comes from within. True deserving hard work in trading is about research, development, testing and thinking about preserving your capital. A lot of traders fool themselves by looking at the market day after day and the market fools them in turn by letting them win twelve times in a row. Subsequently we all know what happens to that poor chap when the market turns bad against him.

doctortyby avatar

Emotional Intelligence also applies here.I agree with the fact that numbers don't lie and a 50% Win/Loss Ratio with a reward/risk of 3:1 can make one successful. Regarding the Ego, it makes our lives hard not just trading

SpecialFX avatar

Unfortunately, your article will probably not get much attention, because it is all text and a bit philosophical, but there is a lot of stuff here that people should pay attention to. I was reading and nodding in agreement all the time :)

Likerty avatar
Likerty 30 Oct.

First part of the article was really sensational just later fell in to usual and already heard things, but still it is one of the best articles on the matter taht I read here in DUkas contests!

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We all traveled this road so I decided to write
this article ... so that is cause for reflection for those who have not yet
started but are tempted to do so. A beginner normally learns of this market in
a casual way, has happened to me so I believe it should be the same for
hundreds if not thousands of people.
Initially many doubts arise whether the
functioning of the market itself or in how to operate it. How to use leverage,
which is the best time to enter a position, which is the best pairs/assets to
negotiate ... All this creates a huge mess!
 The 1st step (at least as accurate, though not
happen like that with everyone) is: download a demo account.
After installing to the platform and open an account
"DEMO" is necessary to make some entries in this way will slowly be
taking the concept of its operation. It will be the regular practice of this
demo account in which it will operate with ease, it is not yet operating with
equity, which will achieve positive results that will make it possible to
extrapolate to a real account.
 The "new trader" will experiencing
all the indicators that will arise in various forums about the Forex market,
will ride in a search for magic formulas and…
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hadzibaba avatar
hadzibaba 14 July

good article i wish you +1

tulasi avatar
tulasi 17 July

nice n pleasant to read

ImranMughal99 avatar

Thanks +1

egidijus avatar
egidijus 20 July

Nice article. Good luck! +1

projectx44 avatar

Forex community thinks that this article is a must read for beginners....

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The Beginning
Dream to become a forex trader? Do you have a stable computer and
internet connection? Do you have the latest trading system that guarantees
profits with little or no work? Are you ready to make millions and fire your
boss? If all ticks means you are great but are you really making money? OR well
that is easy tasks. Be honest all traders will start with that thought in the
beginning and think they are the smartest among their influences. In fact, many
are still struggling to make their fortune works in the forex market.
To make my story short, I blew my first live account in just
nearly 2 weeks with $10,000 gone with the wind. And that was my hardly earn of
1 year saving worth. I felt like a gambler at that time but luckily my wife was
not angry to me but with complains and disappointment in her face. My problem
was not using a stop loss in all my trades and opening several positions in
which I hit my first margin call ever. Of course I started to blame my broker
then high news the useless $5,000 - $10,000+ forex courses or even a cheap
robot/indicators/trading system from clickbank or plimus and just many as anything
you could probably think of. To be a pretended wis…
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foewenpo avatar
foewenpo 9 Feb.

@Jlongo - It is good if you have not blow any account especially in live. If you read my experience article above and learn well plus a wise man, I believe you can success if your passion is there.

foewenpo avatar
foewenpo 9 Feb.

@Doctortyby - I have my own trading plan, strategies and my own analysis by now. Of course keep an eye to everything important aspect during trading is essential. Thanks for the reminder.

ritesh avatar
ritesh 26 Feb.

this is something nice to read.

Bluedragon avatar
Bluedragon 29 Feb.

good luck ;)+1

Bluedragon avatar
Bluedragon 29 Feb.

good article ;) +1

orto leave comments
don't believe? Keep reading!
I admit, I won't mislead you with some strategy that is HOLY GRAIL. After many
centuries of trading, from village markets of the middle ages to the largest FX
market, NO ONE has yet presented a strategy, which would bring ONLY POSITIVE results.
I do have two strategies, which brings more in than out. There is a problem
though: it is impossible to make an automatic robot, which would do trading
1)        It’s not all about technical analysis, you
must also consider fundamental elements. In short, this means that you are not
selling gold when stock market indexes are dropping. Second example is
correlation between currencies and the third example is reports of central
banks (for example: we will hold EUR/CHF over 1.2 at any cost).
2)        Candle stick shapes. Many times, shadows
of candles tell more than the trend direction.
3)        What is shown by indicators,
divergences, peaks, pivots, previous day trading, day of the week and month,
holidays in certain countries, economic and political news …
you see, there are many …
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lolka1 avatar
lolka1 28 Dec.

Holly gral is good plan.

musmus avatar
musmus 29 Dec.

It is no holy gral outthere. We only have our strategies and discipline.

Boris avatar
Boris 30 Dec.


hakala avatar
hakala 30 Dec.

@ Boris: What do you mean? I have just wrote you maine Holy Grail.

musmus avatar
musmus 30 Dec.

This article realy speaks about core problem of FX trading. I too have some friends, that have lost all their money by trading FX. Stupid them. First school tnah work!

orto leave comments
Do you know Albert Einstein? I am sure you heard about this very famous genius scientists who created many scientific theories and researches. Can we copy his  strategy and applying them into Forex? Yes, we will outline his 8 amazing trading lessons.1. Perseverance:“It’s not that I’m so smart; it’s just that I stay with problems longer.”What do you think from the above statement? Humble, easy going, down to earth or other things? All above are correct but it relates to one thing we call perseverance. I agree that he is a super genius but he cannot do anything beyond people imagination if he simply ignores the problems, walks away and giving up too early. One secret is hidden in it, we do not have to attain an extra ordinary IQ for making a big thing. However, we must be a hard working person and having ability to focus. There are so many genius people out there who living in this world and die without contributing anything important and useful for the generations. Thus, there are many ordinary people who focus on one thing and able to make a big positive changes.You cannot achieve anything in overnight / instantly. It takes time to become a good and profitable trader. According to …
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skytrader avatar
skytrader 13 Dec.

i like nr. 8 most! this is the core message! nice article. different point of view. i like it!

ritesh avatar
ritesh 13 Dec.

nice article, keep more coming. best of luck +1

ritesh avatar
ritesh 22 Dec.

Wishing you a very happy and prosperous New Year. +1

AdrianWS avatar
AdrianWS 26 Dec.

interesting article, nice approach.

orto leave comments
There was a closed door guarded by two ancient stone columns. I opened it and walk in. Silent marble floor long the corridor was running down to a dimly lit room. Carpets and furniture never seen all over, around it no one. A jewel box protected by a purple exotic cloth was standing in the center of a wooden table, I went further and then I saw what I was looking for since the start. The Holy Grail was there in all it's glorious beauty and solemnity, ready to be read and master it. I took it in my hands and brought it near to my eyes trying to decode its obscure meaning...Oh my God finally I'd be rich!Did you solve the riddle? Said an high pitch voice behind meI jumped and turned myself towards the cause of my apprehension, what I saw was just a long black/greenish hat at the corner of a white furry carpet.Let me please introduce myself, my name is Mad Hatter! So did you get it?Of Course!  This was a big lie as I didn't have a clue what he was talking about it but I hate to confess even to myself when I can't make out things.Good! Than you can give me back my tea cup and stop looking silly holding it above your nose.But this is not a tea cup it's the Saint Grail, I found it...Ahaha…
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faridnnn avatar
faridnnn 26 Sep.

good luck +1

davidstones avatar

It's a very funny reading. You are a clever writer, because you put content and fantasy together, letting the reader in a dreaming meditation. +1!

davidstones avatar

I mostly appreciate the recurring idea of a fantastic world that is a perfect mirror of the trading world, with his dreams and illusions.

Erialda avatar
Erialda 26 Sep.

Keep going my italian friend , you are an exellent writer , you have to win the first place +1

stomaraka avatar
stomaraka 30 Sep.

Excellent piece of storytelling. Educational and fun to read. I look forward reading more from you, good luck. +1

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