Tag Archives: price action forex

christmas
christmas

Forex course

Christmas is coming and before you know it, a year has pass again.We are closing on 2012.

Let’s reflect on what have we accomplished this year shall we?Think about it. Be it in life, career, love, anything.What have you achieved this year?

As for myself. The reason why i hadn’t been posting as frequently as i should is because i have a new entry in my life this year – my daughter Having a baby can be quite hectic. Sleepless nights, the draining of mental strength when you keep entertaining them, etc.

Nevertheless, it is fulfilling and the joy that is given surpasses all.Aside from family life,

AFMManaged fund management is also launched to the public this year and the results & response were great.How about you my friends?Did you made 2012 a fruitful year?Or you should have done & accomplished more things than you had.

Forex Trading

Since it’s December now. And it’s usually slow in the forex trading market.It’s a good time to stop trading and to relook at how you have been trading the past year.If you had kept a journal of your trades, that will be easy to track.If you had not kept a journal, make this one of the MUST DO’s in 2013.

Scan back on the charts of the trades you had taken this year, or should had taken.Find out what worked for you, and what didn’t.

Usually there are a couple of same few reasons why the trade you had took didn’t worked out:

1) You entered on impulse and it wasn’t a good trade at all

2) You failed to look at the higher time frame to see that there’s resistance / support blocking your move

3) You trade right into a major news time. Where you got caught out by the news with a big spike

4) If all the above isn’t the reason, then it could be just how the market works. Remember the market CAN do anything.
Even if all the signals and the tell tale signs were correct, the market can still go against the intended direction.
But that’s just how the market works, the good thing is: This is on the lower probability side.
Remember, trading is all about probability. So long as you take only the good trades. Then your profits will outrun the lower probability trades that didn’t turn out right.

With that said, take this time now since it is the end of the year to reflect on your trades you took this year.

It’s just like working, or managing your business.If you are always working, day in day out. And fail to look at the big picture. You cannot see any growth.Because all these while, you may be doing the wrong thing.

OR

There is actually extra ways and methods and strategies you could apply to enhance your growth. Which you would have missed out if you are not looking at the big picture once in a while.

So take the time now this holiday seasons. To reflect, to learn extra ways to enhance your growth.
Even if you know alot already, there’s always something that you could get from someone / some courses / some trainings.

Even the wealthest have coaches, attends private seminars and are constantly learning new ways to enhance themselves and their business.

With that being said.I should stop writing now and GO reflect & Learn!

If you are not already a member of 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 – You Should!

See you on the other side my friend,

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

Do “like”, “comment” and “share” this if you find this forex article helpful. =)

number
number

Forex Market Hours: How many times do you trade a week?

Forex Market Hours: How many times do you trade a week?
This is a question that is largely asked.
Ezekiel. How many times do you trade a week? or How many times should i trade a week?
Whats your answer?
(Forex Market Hours)
My answer to them is pretty much the same -
0 to 10 times a week.
There is no definite figure and there never will be.
As mentioned before, we enter trades when a setup occur with price action confirmation.
Therefore, if there is NO setups = There is NO entry.
It can absolutely happen when there is NO setup for the entire week.
Which accounts for the 0 times a week. (But it rarely happens)
And there may be weeks when there are alot of setups (may be even more than 10)
But on average. Its between 0 to 10 times a week.

Forex Market Hours: How many times do you trade a week?

Forex Market Hours
Some of you guys may think.
That’s very little.
Yes its very little.
Would you rather have more trades with more losses OR
Would you rather have less trades with more wins?
Think about it.
The reason why we take so little trades is because we filter away alot of the low probability winning trades.
‘Most traders find reasons to enter, professional traders find reasons NOT to enter’ – Ezekiel Chew
Therefore, every trade we take. Must have a high probability of winning.
Which will eventually lead to a good growth in your account.

Forex Market Hours: How many times do you trade a week?

Forex Market Hours
Therefore, if you are trading way over than 10 trades a week.
Look at the success rates you are getting.
If you are getting a high success rate on all the trades. That’s good.
But if you are not getting a high success rate. You need to think twice about your forex trading strategy.
Are you trading the right way?
Will your trading style lead you to a consistent growth at the end of the day?
Remember – Forex trading is NOT all about taking trades.
It requires you to think about and to have a proper forex trading system, a plan.
This is a business. This is not gambling.
If you are taking trades based on gut feel. – You are a gambler.
I would recommend you to stop trading altogether. Either stop forex trading, or spend some time to learn how to trade forex the right way.
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. (Forex Market Hours)
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: Aggressive Trading Psychology

audpins
audpins

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)

usdchfpin1
usdchfpin1

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
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lion
lion

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

gun
gun

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

forextrend
forextrend

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

gbpusdup1
gbpusdup1

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?

forexrobot
forexrobot

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)

priceactioneurgbp
priceactioneurgbp

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