Tag Archives: forex price action

no3
no3

Forex Trading System – No. 3 The KILLER

Forex Trading System – NO. 3
This single forex trading strategy once understood will be your added arsenal in your forex trading system.
NO 3.
What is it?
In the chart above: Forex Trading Pair (EUR CHF) Weekly Time FrameYou see price touches the pivot zone @ 1.2405 (orange line).That is an all time low pivot zone. When price came down and touches the pivot zone the first time (marked by blue box 1.) It gets rejected and bounced back up. (Forex trading system)It tried to test the pivot zone once again on the 2nd time (marked by blue box 2.) and got rejected immediately.And so it retraces back up for a little while to come down back again to test the pivot zone for the 3rd time.

Forex Trading System – No. 3 The KILLER

Now, most people may think that since price had tested the area for 2 times before and got rejected by it. The pivot zone has to be a strong level of support and high chance that the 3rd time of it touching will get rejected too.That’s when most got stopped out and made a lost; had they entered a buy order expecting a bounce up.

Forex Trading System – No. 3 The KILLER

Price moves in patterns and respect these patterns most of the time.
And the No. 3 is one of it’s pattern.
No. 3 means that = the 3rd time will usually make a break through of an important support/resistance zone.You can run a back-test to see what i’m talking about.Most of the time, price breaks through an important support/resistance zone at it’s 3rd try.Be it a pivot zone or even a trend line.If you understand this simple fact, you could end up with more positive trades and lesser negative trades.For example in this scenario:We could play a breakout trade with a pending sell order slightly below the pivot zone.This is to catch the possible breakout of a consolidation trend into a downwards trend.And this knowledge will prevent you from placing a buy order in hope of the trade bouncing back up at it’s 3rd try.

Forex Trading System – No. 3 The KILLER

As simple as it may seem, it is true.
Forex trading need not be difficult. It is all about understand how the market moves and how to play along with it.
Learning price action is a major key in forex and in combination of a good proper forex trading system. It is a matter of time before you find success accompanied with discipline and perseverance.
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 Advanced Article: Forex trading psychology

education
education

Forex Trading Course – WHY you should NEVER Trade Live without learning a Proper Forex Course

Forex Trading Course
Forex trading is essentially like every other business.When we are young, we studied for years before we came out to work.
A lawyer needs years of studying and practice before being a full fletch lawyer.
A Doctor needs years of studying and on job training before being a full fletch doctor.
So does a dentist, a accountant, a hair stylist, a chef etc.
You get the idea.
All careers requires practice and education before one is truly successful in their line.What makes you think that forex trading doesn’t need it?In fact when forex trading is mastered, the income from it will reap far more returns than most jobs on earth.Do you think you will need more training on such a job / investment?
HELL YEAH!

Forex Trading Course – WHY you should NEVER Trade Live without learning a Proper Forex Course

But surprisingly most people jump right into Forex Live Trading, trading their real live capital even without proper forex education and understanding.Most will grab some basics from some free online forex trading websites and they believe that they are good to go and conquer forex.
That’s what Forex conquered them.These are the people whom the forex brokers love the most. They are the money trees for the forex brokers. They will just come and bust an account, come back with more money to bust their accounts again and again until to eventually give up forex trading.There are lots of people like that popping out every day. Which is why the forex trading industry is such a booming business.
As mention, even the simplest job on earth done without proper training wouldn’t get you anywhere.What more forex trading – something that reaps you good returns.The first thing you should get yourself equip is to learn a proper forex trading system through a proper forex trading course / forex trading school.After learning the proper trading system from the
forex trading course you selected.
DON’T GO LIVE YET.
Demo it first. Trade the system using Virtual Money.
Only until you are profitable in your virtual account then will you trade your live account.
This is something that most forex coach at the forex trading course neglected to tell the students.

Forex Trading Course – WHY you should NEVER Trade Live without learning a Proper Forex Course

Greed is something that kills people everyday. And greed kills majority of the people who trades forex.As mentioned, without proper forex education and enough practice. How can one expect to succeed in forex trading or to become the next forex millionaire?These are the pure fundamentals and core basis of financial freedom.
Few will achieve financial freedom through pure luck, those who achieve financial freedom are those who have the drive and perseverance to go for it. Those who understands that it is through pure diligence of learning and implementing; will one become successful.
Back to the example:
A Doctor takes at least 10 years to become a full fletch doctor.
So does a lawyer or any professionals.
How long do you think is needed in forex trading? 1 Day? No way.. But that is still the mentality of most people out there.
Until they change their mentality. Their financial freedom will never come.
I hope i have touch the most core and basic fundamental of anyone looking to venture into the forex trading business.
At Asia Forex Mentor, You will Learn Price Action which is King in forex. And i will teach you the Exact FULL Forex Trading System that i personally use to be consistently profitable. Besides that, you will also need a Forex Mentor / Coach who will be able to guide you through your difficulties and doubts encountered. That is all given in our AFM winning Price Action Forex Trading Course
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Forex Trading Hours

sild
sild

Forex Trading Strategies – Forex Trading Pair: Silver ( Xag Usd )

Most traders may not realise but the reason why they are probably failing is because they are not looking at the BIG picture.What i meant is that, when traders look at the charts. And if they spot a good entry based on their forex trading strategies; they would then jump in straight away.And if they made a lost on that trade, they would then lose confidence in their system or on forex trading totally. The reason why they failed on that trade is probably because they did not look at the BIG picture.

Here’s what i mean.

Forex Trading Strategies – Why you need to look at the big picture

Forex Trading Strategies – Look at the forex chart above.

This is something that i discussed with my one on one coaching client last night and i thought its worth sharing here.

In the highlighted blue box, its a pin bar pointing down.

The pin bar is in line with the main trend which is down as you can see on the left hand side (trend slopping down)

So we know we are on the right side of the trend. And its a good looking pin.

Had we jump right in the trade to sell, we may have gotten stopped out if we had not taken profit as you can see the pair went up afterwhich.

WHY?

Forex Trading Strategies – Why you need to look at the big picture

If you had look at the big picture, and if you look at the daily chart on the right.You will see that price is heading into the 150 moving average. Which is a very strong resistance/support especially on the daily time frame.

So when we see the daily 150 moving average (marked by the orange line), i have drawn the red dotted line in the 1hr chart which indicates the exact position of the moving average.So now we can see the bigger picture. Price is heading towards the strong resistance/support. And there is not much room for price to head further down at the moment.

Therefore by looking at this, we would then skip this trade as it will not make any sense to us to trade moreover the risk reward ratio for this trade would be bad.

Forex Trading Strategies – Why you need to look at the big picture

Forex Trading Strategies – Forex Pair: Silver

So from this quick example, you can see that had we not looked at the big picture. We would have missed out on a important detail.So traders, next time before you enter a trade.

REMEMBER to look at the Big picture.
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 Intermediate Article: How to trade the news

tradingpsychology
tradingpsychology

Forex Trading Psychology – The Main reason Why Forex Traders Fail

Forex Trading Psychology

There are many answers in the market to this question: Why do most forex traders fail?

- Some blame it on over trading
- Some blame it on emotions
- Some blame it on revenge mentality
- Some blame it on impulse
- Some blame it on the market
- Some blame it on bad luck
- Some blame it on poor entry
- Some blame it on not taking profits
- etc etc etc

As you can see, there will be tons and tons of reasons that explains why forex traders fail.

This is all that relates to forex trading psychology.

But i strongly believe that it all leads to one answer.

MONEY

Forex Trading Psychology – The Main reason Why Forex Traders Fail

Yes, the answer is MONEY.

The main reason why most traders fail is because of money.

No doubt that we all trade forex for the money.

But it will be the money that kills us in forex.
>
Forex trading psychology – Let me explain.

To us our money that we put in our forex capital is our hard earn money. Who isn’t?

when we have that mentality that we CANNOT lose the money in our capital.

And as all man are greedy. We want to multiply our capital FAST.

That’s when we lose it all.

To succeed in forex trading, we have to FORGET that there’s money involved.

You have to learn to trade not because of the money. But because you like forex trading and you are passionate about it.

You have to learn to trade right and not trade for the money.

When you trade right and forget about the money, the money will come naturally.

But when you are too focused on the money, all your emotions will trigger.

You will get into impulse trades, probably because you made a lost on the last trade and you want your money back.

Or because you look at the trade and you are so confident about it, you GAMBLED your whole account size on that trade. and to lose it all.

Or because you want to feel good and look good, and you think that you are able to double your account in a week. So you take trades that are way beyond your money management risk %.

Or you made a series of losses, and you think that if you increase your risk percentage on this particular trade, you will make back your losses.

And the list goes on…

Forex Trading Psychology – The Main reason Why Forex Traders Fail

All the above reasons leads to the main answer. MONEY.

If we are not trading for the money, but if we just want to focus on mastering our trading and trading it right.

There will no longer be any emotions in place.

I highly recommend traders to forget about the money in forex.

Trade with your forex trading system and stick to it with discipline. Focus on trading right.

It is even better if you can cover up the money part on your forex broker screen. Ignore how much has your account size grown or how much have you lose.

When you are able to do that, you will then see the big picture and you will be more analytical on your forex trades.So the next time someone ask you on – what is the main reason forex traders fail.

You know your answer: MONEY

This is Forex Trading Psychology at its fullest!

This is the main reason why most traders fail, At Asia Forex Mentor, we teach not only about the entire system for traders to be consistently profitable, we also focus on forex trading psychology. Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Advanced Article: Forex trading psychology – overall picture

gbpusdburst
gbpusdburst

Forex Trading Strategies – A Burst that is waiting to happen

Forex trading pair: GBP USD
In the forex chart above, i have highlighted a blue box and indicated it with 3 arrows pointing up.

What we can see in the blue box are 3 forex price action pin bars that are pointing up.

The dotted line in the chart indicates a previous support/resistance zone – where we can see price respecting the zone on various previous scenarios (marked by the other blue boxes)

So what we can derive from the understanding above is that. Price is gathering momentum to break the support/resistance zone (marked by the dotted line).And when we see the 3 price action pin bar formed. It tells us that price is about to burst out to the other side.

Forex Trading Strategies – A Burst that is waiting to happen

So we will do is to place a pending buy order above the dotted line.And when price eventually burst out to the other side. We would have caught the nice move up!

So you can see that forex trading is not difficult to understand. With just plain price action and support/resistance.We are able to read the story of what the chart is telling us.

This is just one of the ways on how trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Next Advanced Article: breakout + price action

goldinsidebars
goldinsidebars

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

Forex trading pair: GOLD = XAU USD This is an interesting trade on the forex pair XAU USD.

In the chart above, we see a series of forex price action inside bars. (Highlighted in the blue box)

Meaning bars that are smaller than the previous bars.When a series of inside bars like the above happen. It means that price is having an indecision of where to go.

It’s like it is gathering momentum, for a burst out of either side.Which could either be up or down.So what happened in this scenario is that we placed 2 pending orders. A buy and a sell.

These 2 orders are marked by the gold line (entry) and the red line (stoploss).So the buy order triggered. (Gold line -Entry) and we got in on a buy trade.With that, i took away the pending order for the sell trade and made it a stoploss for the buy order.

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

When i trade, i would usually have 2 take profit targets.

So that when take profit 1 is hit. Which is marked by the purple line. I would have taken my first profit off and shifted my stoploss for position 2 to break even.

By doing so, i am also on the “SAFE” side. As price may hit Take profit 1 and reverse back down. And as i have taken profit a TP1, my 2nd position’s stoploss is shifted to breakeven.

So i am in a FREE trade.So whether or not it may hit TP2. I have already gotten profits.In this scenario, i have taken profit at TP1 and my 2nd position has hit my stoploss for breakeven.

So i’m out for this trade.

From this scenario you can see that i am not always perfect.

No one is.

By trading on the above method, we are sure that our account size will grow consistently.

Forex Trading Strategies – How I Turned a Losing Trade to a Winning Trade

Lets look at what happen next.

Price went right down after which.So if i hadn’t had a TP 1 and TP2 method. I would have kept my stop loss at the red line.And made a loss on this trade.

BUT By doing playing the above method.Instead i have gotten profits.. I hope you gain something from this post. Let me know if you did.

This is just one of the ways on how trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,

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

Next Expert Article: Forex trading strategy – range | consolidation trading

eurcadaudcad
eurcadaudcad

Forex Price Action – Why did one Price Action Pin work and not the other

Forex trading pair: EUR CAD , AUD CAD
Many traders asked me, why do you look at so many forex pairs.

This post will be a good reply towards the question.

In the forex chart above, AUD CAD and EUR CAD.

Both pairs have the same denominator pair – CAD.

Therefore, both pairs should be co-related in one way or the other.

In this scenario, both pairs formed a pin bar as highlighted (blue box) on the 150 moving average (orange line).

But what we can see on the end result is that – the Eur Cad price action pin turned out to be a good one with profits taken and the aud cad had no result.

Forex Price Action – Why did one Price Action Pin work and not the other

When trades of co-related pair happens, i would only choose the best one of out the 2 in this example.

And we would have chosen the EUR CAD.

Why?

Lets look a little deeper for further analysis.

1) When the aud cad formed the pin bar – there is impending HIGH impact news on the AUD pair. As shown in the top left hand corner of our Asia Forex Mentor news indicator.

2) When we compare both the price action pin bars. The Eur Cad was a better one.
With the opening and closing at the top of the pin bar. And the closed was above the 150 moving average.

The aud cad forex pin bar however looked more like a neutral bar than a pin bar – with its opening and closing in the middle.

3) The Eur Cad had tested the 150 moving average recently before and it held well.

With this 3 factors alone, we would have taken the EUR CAD instead of the AUD CAD. And would have taken profits already as marked in the chart.

So my answer to the question on why do i look at so many forex charts?

- Had we not have the eur cad on our chart and only the aud cad. We would have taken the aud cad and missed out on the Eur Cad.
- The more charts we look at, the more charts we can compare – To choose only the BEST ones.
Thats the reason for our high winning probabilities.
- Our system works on all pairs, which is why we have so many opportunities in the market.

This is just one of the ways on how trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Next Advanced Article: 2nd chance in forex trading (part 1)

gbpcadnews
gbpcadnews

Forex News Trading – Why should you NOT trade this!

Forex trading pair: GBP CAD
This is one of a good example which is worth mentioning.Alot of people have asked me, Ezekiel – How do you trade the news?

My answer is simple: I rarely trade the news. and i go on by saying that i will usually avoid taking trades when the high / medium impact news is coming in 2 hrs time. And i would only enter the trade AFTER a minimum of 10 minutes when the news is announced.

Why people may say. Trading the news can make you fast money.

Yes it does. But trading the news will NOT make you consistent money. Nor will it make you a full time trader. Besides its Risky and its like you are laying your stakes in the hand of god.

Forex News Trading – Why should you NOT trade this!

If you ask me, i prefer trading safe and trading with a plan. I do not like to leave my fate of the trade on luck by predicting the outcome of the news.

Which is why i do not trade 2hrs before hand for any affecting pair.In the chart above, forex pair: GBP CAD

There is an upcoming news on the GBP in 48 mins time. I spotted the pin bar before hand , but i didn’t take the trade. Because Rule no. 1: Do not take trades that have news impact with a buffer of at least 2hrs advance.

So what we can see from the chart is that the market has gone wild, and people are expecting good news on the GBP which resulted in the spike of any GBP pairs.

Had we taken the trade, we would have gotten stop out and made a loss.I hope you got something out of this forex news example.

This is just one of the ways we trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

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 examples

usdchfboxh1
usdchfboxh1

Forex trading pair: Usd Chf

The forex trading strategies | strategy above is an interesting way to look at forex charts.

I have highlighted blue boxes in the chart. As we can see, when price is NOT trending. It moves in boxes. Just like the chart above.Do not neglect the simplicity of this! I use this often as one of my trading arsenal.

What we can notice from the chart is that price consolidates in the boxes and to eventually break out from the box to form another box.So price move in boxes when its not trending.How can we benefit from this Simple yet Powerful knowledge?

Forex Trading Strategies – Its all about Boxes (Forex Trading Strategies)

By drawing the boxes, we are able to predict where price might head to on the next box after the breakout.And besides that, we can just trade inside the box just like this:

Forex trading strategies: Look at the first red arrow in the chart above. That indicates the marking of the low of the box.So we can expect the next time price reaches the area. We can buy at the area. Which is marked by the white arrow on the second time.

The same follows on the 2nd box.

The red arrow pointing down marks the high of the blue box. So the next time price reaches the high. We can sell it off immediately (as marked by the white arrow)

And we are seeing that happening right now in the latest blue box. Price has hit the bottom of the blue box which has now retraced back up. Therefore we can place a buy order right at the bottom of the blue box to profit from this.

Forex Trading Strategies – Its all about Boxes (Forex Trading Strategies)

Do you see the power of this forex trading strategies | strategy? It is so simple yet powerful.

As i always say, Forex trading can be plain, simple and clear cut. By using simple clear cut strategy just like this box strategy, forex trading will no longer be difficult.

I hope you like this and pls click on the like button and drop a comment below to let me know how you feel.This is just one of the ways we trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,

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

Next Expert Article: Box trading example (part 1)

gold1
gold1

Forex Trading Course – Follow up on previous post “How to take this Price Action Pin Bar”

Forex trading pair: Gold (Xau usd)
Pls read the previous article first before reading this post.
Forex Trading Course – How to take this price action pin bar

Forex Trading Course – How to take this Price Action Pin Bar

Follow up:

gold1As we had set the pending buy order at the top of the pin bar (marked by the orange line)Our buy order got triggered by the 2nd bar after the pin.

Our take profit would be the previous high (marked by the turquoise line) and we have gotten our full profits.

Risk reward 1:1.5, Thats not too bad.

As you can see, by just a simple method of placing a pending order instead of entering right at the close of the pin bar.

1) we did not get our stoploss triggered and instead taken full profits.

This is a simple way of looking at how we trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading Systems that i personally use.

See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Next Intermediate Article: what happens if a pin bar does not trigger immediately