Articles

A look at the key features to be considered when day-trading forex. Until recent years, the opportunity to put on a trade was governed by the cycle of day and night. But a unique characteristic of Forex trading is its round the clock sequence of trading. Starting Sunday when the sun rises in Asia, until Friday late afternoon, when the New York markets close, Forex trading is available. So the question arises, what is a Day trade in Forex, if technically Forex is a continuous week of trading? To answer that question we do not need to delve into the nature of human circadian biorhythms. One has to be arbitrary. We can effectively define a Forex day trade as a trade that is completed during the waking hours of a trader. A day trade might...

In this streaming video, Phil provides the outline of a trading strategy he uses regularly for trading the forex market. In this example, he demonstrates a simple break-out strategy on the Eur/JPY pair using 15 minute charts, but his interpretation of the charts, using price action and candlestick analysis, can be applied to many other price patterns across the currency pairs. He details his precise method for identifying and trading this set-up, including: when the set-up is most likely to appear why you should avoid taking the trade on the first break-out where to place a stop-loss and why you should resist the temptation to move this to break-even at the first opportunity how candlestick analysis can be used to support the...