Tag Archives: forex price action

Market Crash 2011 : How to profit from this market crash

With the recent market crash 2011. Many investors are going wild.
There are 3 types of investors in this crisis:
1) Dumping all their portfolio to prevent further losses
2) Getting bargain buys in this crisis
3) Do nothing
Which type are you?

Market Crash 2011 : How to profit from this market crash

If you are a forex trader like us. We are definitely not affected by any market crash.
In fact, during these kind of period – The market are very volatile.
Which is really good. It means fast and big profits.
When the market is volatile.
I will play it this way.
In normal days, i have 2 profit targets. TP1 and TP2.
In volatile days, i also have 2 profit targets. But i will not set a fix TP2 but set a trailing stop for it.
Why?
It is especially during these period when the market movements are really big. They have big dips and big rise.
We want to set trailing stop to capture these big movements. which equals to big profits.
So this is about the forex market.

Market Crash 2011 : How to profit from this market crash

Besides being a forex trader, i’m also very much an investor.
Therefore, i too will be looking for bargain buys in the property market.
This market crash 2011 – 2013 has given us yet another chance to profit from it.
So now is a good time to determine what type of investor are you. 1 , 2 or 3?
This market crash 2011 can be a disaster or an opportunity.
It is your decision. But whatever investment you are making, make sure to do your due diligence first before purchasing.
Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Price Action Pin Bar

Forex Pair: Aud Usd
This is a nice scenario when all the timeframes has a forex price action pin bar.I will make this post simple.As we all know we enter with the trend and not against the trend. – As we all know the trend is our friend.Therefore, in all 4 timeframes above. 1hr, 4hr, Daily, WeeklyAll are pointing in the same upwards trend direction.Therefore to trade this pair.The 1st criteria is fulfilled. As they are all in the same upwards trend direction.

Forex Price Action Pin Bar

The next most important criteria is to have forex price action bars confirmation.And this pair happened to have forex price action pin bars in ALL 4 Timeframes!At the start of the week, it first formed a long pin bar on the weekly timeframe. (highlighted in the blue box at the bottom right hand corner chart)(That’s an indication that the pair may be heading up this week or so.)And then the daily formed a forex price action pin bar yesterday.(highlighted in the blue box at the top right hand corner chart)(So we will be watching this pair closely already)
And then the 4hr and the 1hr formed a forex price action pin bar right at the same time. (highlighted in the blue box of the first 2 charts)
How good a confirmation is that?!

Forex Price Action Pin Bar

So as we speak, we would have at least taken our first profit off the table already.As they say Price action is King in Forex.This is one great example of a trade to choose and to trade.Remember the more the confirmation, the higher the winning probability of the trade!Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Day Trading Systems & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: How to take this price action pin bar (part 1)

Forex Day Trading Systems: Why should you not take this price action pin bar?

Forex Day Trading Systems: We are doing a day trading in the forex pair above: Usd Chf 1hr.We spotted a price action pin bar (marked by the yellow circle).The overall trend was down and the pin bar was in the correction direction of the trend.However we skipped the trade as we deduce it to be a low winning probability trade.

Forex Day Trading Systems: Why should you not take this price action pin bar?

Forex Day Trading Systems
Reason No. 1: The pin bar is at a all time low as seen on the left.
We prefer to take pin bars that has a little retracement.Pls see the chart below for example:
usdchfpin2As you can see in the chart above. This a preferred scenario for us to take a trade.The price action pin bar has a little retracement which looks really great.And there is room for us to take at least a TP1 (take profit 1), since there is room to move down.Therefore we would have at least taken TP1 right at the bottom of the chart.
Do you see what i mean?
We want to take trades that are safe. And has a High winning probability.The first chart has a lower probability because it is at a all time low. And we do not know if price is going to break the all the time low to make a new low.However in chart 2, we are at least sure that there is a good chance it will head to the bottom of the chart (low). And there is room for us to take profit off the table there.

Forex Day Trading Systems: Why should you not take this price action pin bar?

Forex Day Trading Systems
Reason No. 2: If you look at the first chart, and you see our Asia Forex Mentor News Indicator (you can get it free in our bonus page) at the top left hand corner.
You can see that there is news coming up on the next hour. (next bar)
And it is also a high impact news.
Therefore with news coming that close. Prices will have big fluctuations. And spikes is very common in such scenario.Should we enter the trade, we may get stop out before we know it when spikes happen.Therefore, it is wise not to take trades with news that are coming really soon.

Forex Day Trading Systems: Why should you not take this price action pin bar?

Forex Day Trading Systems
I hope you have gain some knowledge as per what trade is a good trade to enter.The above forex day trading system once mastered alone will take you very far!
Check out our online forex trading AFM winning Price ActionForex Course where i teach you the exact FULL Forex Day Trading Systems & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
HitLikeButton

Online Forex Trading: Are You A Lion or a Cub?

Online Forex Trading
This is something very crucial in real life and in forex trading.Before we start: Characteristics of a Lion (King of the Jungle)
– Calm
– Powerful
– Confident
– Killing Instinct
Have you watch documentaries before on how do lions hunt?
Although lions themselves are a powerful predator, they still do not go out right up front to the prey and start chasing them from afar.
What they do is that they will fix their target on the weakest prey and move slowly and calmly towards the prey without gaining any attention.
Only when they are close enough and confident of getting their prey, will they Strike.

Online Forex Trading: Are You A Lion or a Cub?

The nature of a lion and how he hunts his prey largely applies to forex trading.
Are you the type of trader who calmly wait for a setup (prey) to occur.
And if there is no setup (prey), they will retire back to rest and come back to hunt the next day.
OR – are you the trader who strikes everytime you see food. But to get themselves a back lash most of the time?
If you are the 2nd trader, you are like a baby cub.
When the cubs are young, their parents will teach them how to hunt.
And not to go out striking blindly.

Online Forex Trading: Are You A Lion or a Cub?

Being calm is the characteristic of a lion.
But when he strikes, he is confident of a Kill.
That’s what a trader should do as well.
We will lie in wait for a setup occurance, and when it occurs.
We will strike it without hesitation.
But if there is no setup, we will retire to rest and do our things.
I hope you find the above analogy interesting, and it’s time to ask yourself.
Are you a Lion or a Cub in forex trading?
Check out our online forex trading AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Picking the Right Entry

Forex Trading Psychology: Your Gun To Wealth or To Death

Forex trading is like a weapon – a gun.
Anyone can hold this gun. But like all weapons, you need to be trained first before using it to fire.If you are well trained, this gun can take you to Greater Wealth.But if an untrained personnel starts firing the gun, it would lead to his death ( Financial Death )
Do you see what i’m driving here?The fact is that everyone can open an account with a broker and starts trading at any point in time. But that does not mean that they are able to use this weapon right?
Like all military personnel, they must undergo lots of weapon training first before giving them live ammunition to fire.The same goes in forex trading.We must undergo forex training first before inputting real money into our live account.

Forex Trading Psychology: Your Gun To Wealth or To Death

The next question comes:When do we pull the trigger of the gun to fire a shot?And before pulling the trigger, are we sure it’s the enemy we are shooting and not our fellow people?
The same applies in forex trading:
Before we pull the trigger, we have to make sure that it is the Right ENEMY. Shooting the wrong enemy will cause us a loss in that trade.
Random shooting will also cause us a loss = Entering trades on impulse.We will only open fire when we have confirmed it is the right enemy and the chances of losing to that enemy is low.That is done through proper training by entering with price action confirmation with confluence in place and a proper money management + risk management system.

Forex Trading Psychology: Your Gun To Wealth or To Death

So the next time before you fire a shot, make sure that you have confirmed it is the RIGHT ENEMY.
Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Are we just plain scared to trade the lower time frames

Forex Trading Strategies: Which trend should I look? The long term or short term?

Forex Trading Strategies
I believe that this is one of the most important and mind buggling question that most traders face.
Forex trading strategies Example: Forex Pair Eur Chf

In the forex pair above, the overall trend is in a downtrend (marked by the red line)But in the current movement it is in a short term uptrend (marked by the yellow circle)So to say if you are in the current situation – which happens all the time.
Forex Trading Strategies -> How would you trade?
Forex Trading Strategies -> Would you trade up or down?
Forex Trading Strategies -> Would you trade with the main down trend or the short term up trend?

Forex Trading Strategies: Which trend should I look? The long term or short term?

Generally speaking, of course the bigger trend holds more weight right?So should you still trade down?.. Not really..Although it is the bigger trend that holds more weight, it is the short term current trend that depicts it’s movement.The main question lies in what kind of trader are you.
– If you are the type who wants to trail for the long run. Then you should wait for the trend to turn back down and then trade down.
– If you are like me, who takes profits off the table with a reasonable risk reward ratio. Then we will trade the current short term trend.

Forex Trading Strategies: Which trend should I look? The long term or short term?

You see, although the long term is down. But you should NEVER trade against the current short term trend.
Because this short term may turn to a bigger trend. And this short term trend may be the indication of a trend reversal.So, if you have a good profit taking strategy. The answer will be to trade the short term trend and not the long term trend.But of course, the best scenario is that we have the long term and the short term trend in the same direction.It happens, but it does not happen all the time. So in scenarios like the above chart example. I hope you have gotten your answer!
I hope you have gain something from this quick forex trading strategies trade example, Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: Why you need to look at the big picture

Forex Strategies: Picking the Right Entry

In the chart above – Forex trading pair: Gbp UsdWe can see that on the left hand side of the chart, the pair is making a down trend.However when it hit the bottom and started making “Higher Highs and Higher Lows” (marked by the pink circles).It is an indication that the trend has possibly changed into a uptrend.And you can see that price is making a channel upwards (marked by the red lines)
Therefore in this scenario. Most newbies will still presume that the trend is down, but however with our knowledge gathered above.We know that the trend is changing and is possibly making it’s way up.Therefore we will now take trades that are going UP and not trades that are going DOWN.As taking trades that are going down would mean that we are trading against the trend.

Forex Strategies: Picking the Right Entry

So at the final circle that i marked on the right hand side.It indicates a possibly good entry for us to enter long.
Forex Strategies Reason 1 – It is in an uptrend
Forex Strategies Reason 2 – It is at the bottom of the channel
Forex Strategies Reason 3 – There is a price action – bullish outside bar which indicates a bullish movement up.
Therefore, it will make sense to us to take this trade and it has a winning probability of higher than 50% with the reasons backing the trade.
Lets look at what happened next.

Forex Strategies: Picking the Right Entry

gbpusdup2
Price indeed made its way up to the top of the channel and beyond.In fact it went all the way up to the 150 moving average.So what you can learn from this simple trade example is:
– How to determine a trend change
– Drawing channels
– Entering at the low of the channel with price action entry
– Taking your final profits at the top of the channel.
So in this scenario even though that it went beyond the top of the channel and to the 150 moving.We will still only take profits at the top of the channel as we do not know that if once price eventually hit the top of the channel – Will it turn back down? or head further up?So that is a question mark and when we trade we do not want to take the risk of earning more profits BUT to eventually lose it all.
I hope you have gain something from this quick forex strategies trade example, Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: What is Price Action?

Forex Robot – Do they work?

There are many questions about forex robot and whether do they work?What are forex robot?Forex robot in fact is the automated way people choose to trade forex with.But the question is whether do they work?If you go research around for real forex robot reviews. You will find that most doesn’t work. Or at least over 90% of them do not work.
WHY?
Think about it, if forex robot do work. Why do banks and major institutions still need chief forex traders and forex traders?They have all the money to develop the best forex robot, why do they still need human to trade for them?

Forex Robot – Do they work?

Then the next question would be, But those forex robot have a perfect 10 year track record.So they should work right…Wrong.
Here’s the fact – track records can be manipulated. And past performance are always not an indicator for future performance.
Forex robot are develop by – DEVELOPERS.
Usually NOT Real forex traders themselves.If the forex robot would make them so much money and have such a perfect track record.How much do you think it is worth? At least for Millions of dollars?But how much are those forex robot selling in the market. Less than a hundred bucks. Feasible?

Forex Robot – Do they work?

The hype in the forex market for automated forex trading WILL be always there.Because people are always looking for ways to earn money on autopilot with just a click of the button.Therefore there will always be new forex robot coming out every other day.If you want to make forex trading your career, take some time and diligence to learn to trade forex.Your future should not be relied on some automated forex robot, it will not work forever. But once you have mastered forex trading as a skill, it will be with you for life.And you can pass this skill on to your future generations.Disclaimer: I’m not saying that ALL forex robot does not work, the above is just my opinion and i will not be held liable or responsible for it.
Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: 950% Growth in 2 weeks example – Why Trade Forex (Part 1)

Price Action Forex – Why Forex Trading is Easy with Price Action?

There are many answers to why price action is king in forex trading. And why price action in fact is the easiest to trade with in forex trading.Let me give you an easy explanation with the chart above.
In the pair above: Eur Gbp
It shows the pair in an uptrend.And if we look into the pair, we can easily spot 5 price action entries for us to ride the trend and to profit on.

Price Action Forex – Why Forex Trading is Easy with Price Action?

Price action (blue box no. 1)
It is a pin bar as well as an bullish outside bar (in combination with the bar on the left hand side)
It is a good indicator for us to take it long with a buy order.
Price action (blue box no. 2)
It is another pin bar for us to enter a buy order had we missed the first pin bar.
This is also a confirmation pin bar to tell us that the trend is indeed going up.
So off it went…
Price action (blue box no. 3)
It forms a bullish outside bar. Look at the long green bullish bar wrapping the previous smaller bar.
Another good price action bar to tell us to take it long.
And so it went further…
Price action (blue box no. 4)
Price move sideways and to form another bullish outside bar.
This bullish outside bar indicates that price is possibly going to breakup from it’s sideways trend.
And so it did.
Price action (blue box no. 5)
Price went sideways again to form another price action pin bar.Another indicator to state that it is going to breakup from it’s sideways trend to move further up.

Price Action Forex – Why Forex Trading is Easy with Price Action?

So you see, in just a pair. We can spot so many price action bars for us to take an entry long.The trick towards trading price action is simple.We usually take price action bars that is together with the trend.So in this scenario, the pair is in an uptrend. Therefore we only take price action bars that is going up. If you look into the chart, you will see price action bars that points down.Those are reversal bars. And we usually skip them. (unless you have enough experience, stay away from reversal price action bars)And you will be glad you stayed away from them as you see, most of the reversal bars did not work out.

Price Action Forex – Why Forex Trading is Easy with Price Action?

So you see, forex trading is not difficult with price action.The power of price action, in combination with a proper forex trading system, trading psychology & money management = Consistent Profits
Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: Price action bars – inside bars

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Forex Coach Ezekiel Chew ask: What’s your Winning Probability?
Do you have the answer to this question?
If you don’t, then probably you should NOT even trade.It is a very simple question that you should ask yourself before you take every trade.
“What is my winning probability for this trade? “
If it is anything lesser than 60%, skip the trade.You see it makes no sense at all for you to take a trade that has lesser than a 60% chance of winning.If it’s lesser than a 50% chance of winning, why even trade? You are bound to lose on that trade right?If it is a 50% chance of winning. You are betting on your luck.That’s gambling, that is NOT trading.If it is a 60% or higher chance of winning. And if you only take trades that have a 60% or higher chance of winning.Where do you think your account size will go? UP of course.

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Having a 60% and higher winning probability for that trade means you have an edge over the market.You SHOULD consistently take trades that are over 60% chance of winning.But if on occasions where you take a trade that is a 50% chance of winning. You will spoil your entire game and your entire trading plan.That is because you are adding a random variable to your trades.And these random variables will disrupt your account growth.
For example:
Trader A) Out of 20 trades, he take trades that are only 60% or higher winning probability.
Trader B) Out of 20 trades, he takes 10 trades that are of 60% or higher winning probability and 10 trades of lesser than 60% winning probability.
Trader C) Out of 20 trades, he doesn’t care about the winning probability. He just take trades when he likes it or just based on his gut feel.

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Which trader do you think has a better chance of growing his forex account?
Trader A of course!
Which trader trades most like you?
If you are at trader B or trader C stage, you should stop your trading now.
And reflect on this.
This vital question is something that you must ask yourself the next time you trade.
“What is my winning probability for this trade?”
Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Forex Coach: Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Advanced Article: Trend line