Posts Tagged ‘strategy’

Doji Candlestick Currency Trading Systems

Thursday, February 10th, 2011

When a doji candlestick is spotted in the market, first look back to see if there has been enough movement for you to benefit from a retracing. A retracing may only be about one 3rd of the distance since the last low. If that gives you sufficient room to cover your spread and make allowance for a little slippage, you can go on to step 2.

Step two involves checking an oscillator to be certain the current price is shown as overbought or oversold. An overbought or oversold market and the doji is a pointer that you can get involved. You may also glance at the trading volume. If trading is trailing off, then this is another sign a reversal might be about to happen.

When you open a trade, be prepared initially for a reversal. Either set a limit order at the point that you would expect a short term retracement to reach, or watch and do this by hand. With the other half, you could move the stop to a no-lose position close to your opening price, and let it run in case a major reversal happens.

Of course, there is always a risk, as with any form of hopeful trading.

Automated Trading in the Foreign Exchange Market

Tuesday, May 25th, 2010

You have to grasp the basics in order to make money with automated forex trading but at least you do not have to spend many years developing and changing a manual system. You can start right out testing your robot in a demo account. Yes, we probably did say a demo account. It’s critical not to skip this step. They could have made a small blunder in setting up the software which might end in 2x as much risk as they intended, for example. Or the robot might not be the one for them. Different currency exchange bots do have different trading styles and requirements. It is important that you are happy with no matter what your robot wants to do, including the risk that it can take on each trade. The neat thing about Clickbank is that you automatically get a sixty day money back guarantee. This means that you can set up your automated trading robot in a demo account and run it through its paces for that time without having to risk any real money in any way.