Forex Time Zones And Currency Relationships

Knowing when to enter the market is crucial to exercising a great specialized trading strategy. There are lots of pitfalls that inexperienced traders knowledge because they’re entering the industry when the probability for creating a profitable trade is reduced. So when is the finest time to search for any buy and sell and why?

The greatest time to look for any buy and sell is when there is heavy volume inside the currency markets. Because the Forex market is open 24 hours per day, it’s best to locate the occasions when numerous countries market segments are buying and selling in the exact same time. Each and every Foreign exchange market inside the world operates from 8 a.m. to 4 p.m. in their respective time zones. So that you can take benefit with the chance of many trades developing, one needs to take a look at when the Forex industry instances in various countries overlap. In the overlapping occasions when several marketplaces are open, typically there is certainly the most volume and pip movement.

For instance, it is best to business the EUR/USD, USD/CHF, or GBP/USD between 8am EST and 12pm EST simply because the US industry is just opening at 8am EST while the European market is finishing up for the day. Another good time to trade is inside the middle from the night from 1am EST to 3am EST as several trades develop since the Asian market segments are closing and also the European market segments are opening. The Australian and Asian Markets overlap among 7pm and 10pm EST as properly which provide excellent opportunities. Usually speaking, one can just shut off their pc and not bother searching for trades from 4pm-6pm EST because the US markets close and you will find no overlapping market segments in those instances, so although there may possibly be rewarding trades 1 could enter, the volume is very much lower and it is far much less likely great trades will develop. The Canadian market doesn’t play a large role in affecting the marketplaces so just trade in addition to the US industry occasions when the European, Asian, or Australian marketplaces are open.

Numerous currency pairs tend to trend inside the same direction (parallel) or opposite directions (inversely) Traders can use this details to plan to trade greater than a single pair knowing that they have a higher probability of moving within the very same or inverse direction.

The general rule is that these pairs listed below have a tendency to trend in parallel relationships. The Euro and Cable have a tendency to shift together probably the most.

EUR/USD and GBP/USD

USD/CHF and USD/JPY

AUD/USD and NZQ/USD

And, these pairs below tend to move inversely one of the most. The Euro as well as the Swissy tend to shift inversely one of the most.

EUR/USD and USD/CHF

GBP/USD and USD/JPY

AUD/USD and USD/CAD

Lastly, bear in mind that when buying and selling, Bulls and Bears make money, but pigs get slaughtered. Do not be too greedy. Business with appropriate equity management and in no way risk more than 2% of your buying and selling account over a single buy and sell. Look for 10%-30% pip gains and shift on for the subsequent trades. Building tiny steady income will add up to large long-term gains. Trade during times when marketplaces overlap, and use info on parallel and inverse relationships to figure out regardless of whether or not to enter on trades on several currency pairs at the very same time.

Wishing You Achievement!

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Virgin Racing FxPro Currency Game

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FORMULA One has always been about money.

Now Virgin Racing and currency traders FxPro have brought the two ideas together for an online game.

The premise of the game is somewhat unique.

Players choose a car powered by two foreign currencies.

Then at the beginning of the race, the game links to the international currency market and the fluctuations power the car.

Genius!

There are amazing prizes to be won including VIP Grand Prix tickets to Abu Dhabi and a range of F1 merchandise.

Check out the game at: FXPRO CURRENCY RACE

Forex Bullet Proof User Review

Forex Bullet Proof is one of the most anticipated of all Forex robotic programs on the market today. Some traders and experts label it a scam or as others call it a reliable moneymaker for use by anyone.

It was difficult to decipher whether or not the reviews I read were trying to sell the program or sell something else in the process, so once I heard of their 60 day money back guarantee I broke down and bought the program for myself. This is my objective take on the Forex automated trader, Forex Bullet Proof.

How does Forex Bullet Proof work is one of the basic questions people ask when they see this program and the results it gets. Indeed, the results of it are impressive, the earnings it helps to generate are massive. But how does it work?

What Forex Bullet Proof does is a 3 step process which basically takes most human intervention out of trading Forex and so helps you to enjoy more free time.

The 3 Step Process Involves:

1. Identifying trading opportunities - In this step the robot scours the market, analyzing how the prices are shifting and seeking a high probability trading opportunity. This is done continuously and automatically all the time.

2. Placing the trade - Once a trading opportunity is identified, Forex Bullet Proof places the trade on your behalf. Again, this can happen even when you sleep which makes it into an employee of you of sorts.

3. Exiting the trade - Forex Bullet Proof continues to manage the trade, waiting to see how it will progress. Once the trade arrives at a point which it determines is the best to end it, it exits the trade.

This is a process which happens again and again, time after time. Basically it can run forever. On some days the software can make a lot of trades, on others it may make none. It all depends on the way the market runs and the opportunities in it.

Click Here to visit the Official Forex Bullet Proof website
The algorithms, logic, and technical specifications that make up the software architecture are works in progress. The developers are continuously working on making things much more efficient and more effective in bringing in the coveted profits from successful trading in the foreign exchange market.

Benefits of using Forex Bullet Proof to trade the Forex market:

- It is simply a plug-in and play software. The major thing you are to do is to install it and leave it to run on autopilot for you.

- You are offered the preference of either hosting it on a remote server or on your own PC, so there won't be any need to allow your PC to be on round the clock. In my experience, this is not advisable. I suggest you host it on your PC with your internet connection and trade only when you there. Just watch the robot as it trades for you, that way you will know how good your trade is performing.

- It was back-tested with a real live and working account, so don't think it was tested with demo account.

- When you purchase the Forex Bullet Proof, you get access to watch a video tutorial where you can learn all you need to know about the robot. Beginning from how you can install it to work with the Meta trader, and how to trade with it.

- The robot works round the clock. Its ability to work at all hours means you won't miss any profitable trade. It evaluates the market trends looking for profitable trade to place for you.

- It is for both beginners and advanced traders. It has instructions which you can follow to set it up in the space of 15 minutes.

- It has a reliable customer service ready attend to your questions anytime you need help.

Ease of Use

Forex Bullet Proof gets high marks for being one of the easiest to use robots on the market. Once you download the program, you'll be walked through the steps to get things started, including setting up an account with a broker. After the set-up is finished, you'll be able to let the program do all of the work for you from then on out.

You don't have to make any decisions about what to buy or sell. All of that is done automatically for you by the program while you about your business. You can check in occasionally to see how profitable your day has been, but you don't even have to do that if you don't want to. Overall Forex Bullet Proof provided a simple to use interface and detailed tutorials.

Accuracy

Obviously, the algorithms powering the Forex Bullet Proof are going to be of the highest caliber because they were developed by a mathematician. Of course, that doesn't necessarily equal high levels of accuracy. But what you'll find is that this program has some of the highest accuracy rates of any of the programs on the market. That means you can feel confident when you invest your money using the program.

Customer Service

One of the less frequently discussed but just as important features is the customer service of the company behind the product. The bottom line is that Forex Bullet Proof was created by people who enjoyed trading and profiting from trading and who wanted to share this tool with others who wanted to gain some similar experiences in the currency market. That comes through with the customer service as well.

Compared to Other Forex Robots


While plenty of Forex robots are on the market, the Forex Bullet Proof robot has been proven effective by traders over and over again. Many of the other robots on the market simply boast about their accomplishments but they don't have the data or the customer experiences to back them up.

That's not true with Forex Bullet Proof. This is definitely one of the most popular options on the market for a reason, and it's one of the top choices for people at any experience level.

Those who are still having second thoughts about the program can just visit the website and check out the account statements that is trading, which appears to be totally legit. It would be natural to have reservations, since the impressive results being shown seem too good to be true for a somewhat affordable package price.

The feature that would strike a Forex trader most is the use of tight stop losses. There are other Forex software applications in the market that employ huge stop losses with very small profits. The tight losses of robot ensures that failures are limited and controlled.

I want to note that Forex Bullet Proof isn't for anyone expecting to get rich overnight, nor is it a get rich quick scheme. But if you are interested in earning some realistic and reliable money which anyone can benefit from without having to learn everything or anything about the Forex market, this can be an invaluable source of income, one which I continue to use religiously today.

Trade within the confines of a free practice account using virtual money to see it work before you invest any real money to make the entire transaction completely risk free. You won't be disappointed.

For more information click here to visit Forex Bullet Proof

Forex Technical Analysis for Week 08/30—09/03

EUR/USD trend: hold.
GBP/USD trend: hold.
USD/JPY trend: buy.
EUR/JPY trend: buy.
GBP/JPY trend: buy.

Floor Pivot Points
Pair	3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
EUR/USD	1.2448	1.2518	1.2639	1.2709	1.2830	1.2900	1.3022
GBP/USD	1.5146	1.5259	1.5392	1.5505	1.5638	1.5751	1.5884
USD/JPY	81.90	82.74	83.97	84.82	86.05	86.89	88.12
EUR/JPY	103.01	104.22	106.47	107.68	109.93	111.14	113.39
GBP/JPY	125.05	126.92	129.60	131.46	134.14	136.01	138.69

Woodie’s Pivot Points
Pair	2nd Sup	1st Sup	Pivot	1st Res	2nd Res
EUR/USD	1.2531	1.2665	1.2722	1.2856	1.2913
GBP/USD	1.5264	1.5402	1.5510	1.5648	1.5756
USD/JPY	82.84	84.16	84.91	86.24	86.99
EUR/JPY	104.48	106.99	107.94	110.45	111.40
GBP/JPY	127.12	130.00	131.67	134.55	136.21

Camarilla Pivot Points
Pair	4th Sup	3rd Sup	2nd Sup	1st Sup	1st Res	2nd Res	3rd Res	4th Res
EUR/USD	1.2655	1.2708	1.2726	1.2743	1.2778	1.2796	1.2813	1.2866
GBP/USD	1.5390	1.5457	1.5480	1.5502	1.5548	1.5570	1.5593	1.5660
USD/JPY	84.06	84.63	84.82	85.01	85.39	85.58	85.77	86.34
EUR/JPY	106.82	107.77	108.09	108.40	109.04	109.36	109.67	110.62
GBP/JPY	129.78	131.03	131.44	131.86	132.69	133.11	133.53	134.78

Tom DeMark’s Pivot Points
Pair	EUR/USD	GBP/USD	USD/JPY	EUR/JPY	GBP/JPY
Resistance	1.2770	1.5572	85.43	108.80	132.80
Support	1.2579	1.5326	83.36	105.35	128.26

Fibonacci Retracement Levels
Pairs	EUR/USD	GBP/USD	USD/JPY	EUR/JPY	GBP/JPY
100.0%	1.2779	1.5618	85.66	108.89	133.33
61.8%	1.2706	1.5524	84.87	107.57	131.59
50.0%	1.2684	1.5495	84.63	107.16	131.06
38.2%	1.2661	1.5466	84.38	106.75	130.52
23.6%	1.2633	1.5430	84.08	106.25	129.86
0.0%	1.2588	1.5372	83.59	105.43	128.78

Weighing Risk in Forex Positions

When opening a Forex position it’s very important to consider your own maximum risk tolerance, which usually depends on the account size and the stop-loss of the said position. Risking only a small fixed fraction of your account balance is a nice way to limit your losses and to organize the whole trading process. But there is also another risk factor that’s often overlooked by the traders and is rarely used when opening a new position — a risk of trade (or its success probability).

A risk of trade can be measured as the expected success rate of the position. For example, if you saw Fed raising interest rate unexpectedly it’s almost a surefire bet (with about 90% probability) that the USD will go up at least slightly. Position based on this signal can be characterized as the low-risk one. And if (for example) usually you risk about 1% of your capital per each trade, for this position you could increase its size to risk, let’s say, 2%. For the opposite example, let’s presume that you are trying out some new Forex signal service and consider that relying on it is quite risky. So, the usual 1% of the initial capital risk can be reduced to 0.5%.

The problem with this risk of success is that it’s very subjective and there is no good way to measure it precisely. A trader would need to rely on his experience and intuition to weigh the risk into his positions. But some approximate system of risk weighing can be organized even by rather new Forex traders and the result of its implementation would be quite nice.

So, next time when you see a nice signal and go to some position size calculator (or even if you do it manually), consider evaluating a probability of trade’s success and alter the position size accordingly.

Optimizing Your EA to Trade on Certain Weekdays

One of the most overlooked parameters of the Forex expert advisor that can be used in optimization of the trading results is the set of weekdays for the EA to trade on. Different strategies are good under different market conditions. And the market conditions tend to vary greatly depending on the current day of the week. Of course, sometimes Monday can show higher volatility than Wednesday or Thursday, but statistical trends are quite definite here. That’s why I recommend optimizing your expert advisor to trade only on certain days of the week. Especially, when it can be done easily in MetaTrader platform.

First, let’s limit the maximum amount of trading days to 5 — Monday, Tuesday, Wednesday, Thursday, Friday. It’s much easier to build and optimize an EA without the small early Sunday’s or late Saturday’s sessions that occur on the MetaTrader servers with the timezones too far from GMT.

Second, let’s presume that you already have a nice EA that performs some position opening and closing. It’s a good idea to limit only position opening on certain weekdays, closing should be performed even on the ”restricted” days.

The best way to start is to declare a variable (as an input parameter, of course) for each day of the week. Although it’d more logical to make them Boolean (bool), in practice it’s better to work with them when they are either “0″ or ”1″ so, it’s more prudent to declare them as integer (int):

input int Monday    = 1; input int Tuesday   = 1; input int Wednesday = 1; input int Thursday  = 1; input int Friday    = 1;

The default values are “1″, which means that the EA will trade on all weekdays.

If we want to check current day of the week in MQL5, we’ll have to start by getting a time structure with the current time and date:

MqlDateTime dt; TimeToStruct(TimeCurrent(), dt);

Now we can time our position entry function with the code similar to this:

if ((dt.day_of_week == 1) && (Monday) ||     (dt.day_of_week == 2) && (Tuesday) ||     (dt.day_of_week == 3) && (Wednesday) ||     (dt.day_of_week == 4) && (Thursday) ||     (dt.day_of_week == 5) && (Friday))     {         Entry();     }

Now we can either test it manually or use the MetaTrader 5 strategy tester to backtest the EA and try all 32 possible combinations of the weekdays. In the input settings of the strategy tester we check all 5 days and for all of them set Start to ”0″, Step to ”1″ and Stop to ”1″. As you see, it results in 32 combinations:

Don’t forget that for such optimization you have to choose a rather long period because testing on just one week will lead to nothing good. At least 10 weeks are recommended. Here are the example optimization results of one of my test EAs; the period was 6 months:

The optimization results are sorted by profit. As you see, the best result was when the EA traded only on Mondays and Fridays but it made only 140 trades. Adding Tuesday to them reduces the profit only slightly but it increases the amount of trades, making the result more stable. Adding Thursday also reduces the profit by a minimal amount and increases total trades significantly. Other results aren’t that interesting. To conclude, we can say that excluding Wednesday from the trading weekdays is an optimal decision.

Now you can use this technique to improve your own expert advisor or to optimize your manual trading strategy (if you can implement a test EA out of it, of course).

Source:http://www.earnforex.com/blog/