Can forex trading be taught - trader forex compte demo

Can forex trading be taught ~ trader forex compte demo

This article will not be received well within some quarters. For every forex beginner that reads this, an online forex tutor loses a market. Of course I don’t expect the article to spark the rise of some kind of white handkerchief movement for the recognition of the efforts of the forex tutors. But I do expect some unpleasant emails. Let me begin by noting that it is
possible to learn without going to school. Ever heard of being home schooled? You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 
Forex can be taught, but only by a gifted few. So far I know only of four real forex tutors. One is Australian, the other three are American. I speak not as a graduate of any of their schools, but as one who has watched their constant analysis of the markets and seen the results of believing in their brand of the forex gospel. New forex traders fall hook, line and sinker for any individual claiming to be knowledgeable about how the forex market operates. If you are not scammed, you will probably get a raw deal. Just because an individual trades successfully does not translate to him being a great tutor. Take for instance your teachers all through your schooling life. Were you never beholden to their knowledge of the subject they taught or lectured? Yet why did your English teacher never publish a great novel, or why did your science lecturer never enroll into a flying school? Most people that score first class grades are not necessarily great teachers. That is why they end up in professions that do not require imparting back knowledge. The point I am tring to put across is that not all successful forex traders can be good forex tutors.

Forex can be taught, but there is no school of accreditation to ensure that you are under the best tutor. There is no syllabus. Only America has a University offering an undergraduate course in forex trading. There are no weekly assessments or end of course exams to test the student on the knowledge acquired. That means that the trading knowledge you acquire as a forex student depends on the whims of your tutor. He will not teach you everything he knows and you will not be in a position to figure out what he has left out because of the lack of source of reference.

Forex can be taught, but it is much wiser to figure it out on your own. Trust me when I say that it is a lot easier and fun figuring it out on your own. A lot of forex tutors divide their courses into beginning level, middle level and advanced level. Most beginners pay more for the advanced level for the only reason that it sounds a little complicated. A lot of that stuff that your tutor calls advanced is actually freely downloadable from a site he will never let you know but one which is always closer to your search engine results. But what even surprises me is when a forex beginner chooses to pay for the beginner level. Type the phrase ‘forex 101’ to any search engine and in a few minutes you will have dozens of materials that are all you need for the so called beginner level. Just analyze the charts on daily basis and in months you will have developed your trading strategy. That is, something that lets you know why to enter a trade, when to enter a trade and why to exit a trade. Back test the strategy and you will be surprised to discover that on average it works well at 70%. You do not need a percentage greater than that to be a profitable trader.

Forex can be taught, but the discipline of trading can never be taught. The forex tutor will rarely stress on the need to keep your emotions on check or on the dictates of money management. Without those two you are headed for a nasty period as a forex trader. Money management in itself is not what many forex beginners want to learn. Most are interested in knowing what the different candlesticks mean and how to execute a trader on the Meta trader 4. That lack of interest, coupled by the fact that the discipline of trading is not something that can be taught even by the most qualified forex tutor, implies that no forex student ever reincarnates into a good trader soon after taking the course. Only you can learn how to control emotions that come about as a result of live trading because you understand the source of your investment and your risk tolerance level. They will teach you the candlesticks but they will never instill the discipline of trading in you.

Forex can be taught, but it instills a sense of false self confidence. Completing a forex course does not mean you will make money on your first trade. Yet is it not true that most forex beginners expect just that? The forex tutorials only serve to nurture false hope and magnify expectations into the realm of the impossible. You paid for a 500 dollar course but you are yet to make even 10 dollars on a single trade? I am not surprised. And you have probably lost more capital because the course you took encouraged you to put more money into your trading account certain that you would double it in a week. Now you must learn that the course you took was only preparatory to the real world of live trading.

Dear aspiring traders, no one has your interest at heart. Your forex tutor is just another businessman. If you are lucky you will pick a thing or two from his tutorials. But you could have gained much more had you chattered the path that most successful forex traders have taken for decades- self tutorials. Ignorance is defeated only through knowledge. The internet age has ensured that no matter where we are, we can always challenge and improve ourselves with the freely available material on the thousands of sites.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

Call us today on 0725 050 419 for the best forex trading orientation.

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Why has Google Adsense rejected my 27 000 words Blog ~ forex trading news channel

Someone better take cover. I’m spitting venom today. This article will surely turn me into a deadly snake whose head must be crushed- by Google of course. You the reader, may actually find no reason to harm me- because I’m almost certain that our plight is similar. And in case you do, then you obviously are stuck in a bubble where reality passes you by- holding onto the misconception

that you’ll make money online using blogger.

Maybe I should state from the onset that I’m not in dire need of money as I write this. Nor I’m I in need of any vindication from those in the business of making money online. I was actually idling on the sofa set when I thought of my other now “dormant blog”. Dormant not because I’m yet to start blogging (the blog has 27 articles each containing over 1000 words and records over 100 page views daily) but because Google is just yet to be convinced that my adsense account is ready for activation. And so it seems that I cannot make money online with a 27,000 worded blog.

What does Google really want? Is anyone making money online using blogger? Blogger being a Google brainchild, I would suppose that Google would be at the forefront in offering some form of encouragement to those that actually manage to generate pageviews without a custom domain. I had long thought that making money online was all about pageviews and content. Yet Google seems so much removed from the aspirations of those that use the blogger service and obey its code to the latter. Many sites that provide tips on how to make money online have put a spell upon anybody who blogs using blogger- the common narrative is that there can be no online success in writing for money using blogger unless you go professional by getting a custom domain. Google seems to be covertly sending the same message to anyone attempting to make money online using blogger. The disdain with which Google has treated those trying to make money online using blogger supports this assertion.

When you begin blogging for money, the common mantra is always- content is king. It is a tired phrase repeated by all those sites promoting the idea of how to make money online. So you write in the hope that soon when you’ve gathered enough content you’ll be making money online. You write day and night with all the SEO requirements in mind. You then apply for an adsense account- and that’s the point at which the reality sinks in. you won’t make money online using blogger. Google will never activate your adsense account if you are using blogger no matter the content size on your blog.  Google has turned the rider, ‘get a custom domain to make money online’ into a powerful sad reality; all with its contempt towards those using its service in the honest belief that it’s all they need to make money online.

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Another proof that you can make money online - forex trading news tips

Another proof that you can make money online ~ forex trading news tips

The article below was a piece in the Business Daily. It gives a glimpse into the lives of youths who’ve discovered how green the grass is on the virtual sphere. It is my hope that with this, most youths will extricate themselves from the “herd mentality”- the false belief
that travelling abroad is the only source to wealth and prosperity.

Tech jobseekers click it right with online ventures

Donholm is noisy and irritating. We welcome the chance
to escape into Ben Mwangi’s living room only 30m from the road made notorious by buses, which pick and drop passengers everywhere. The buses are said to be involved in an average of five accidents daily.

On this bright Sunday afternoon, the Business Daily has just witnessed a motorcyclist being pushed into a ditch by one of these buses prompting a commotion that has led to a snarl-up on the busy road.

The scenes of disorder and chaos outside are contrasted by the ambience and taste in Mwangi’s house.

From imported curtains to a 100 inch LCD television set, every sign points to a man leading a good life. But Mwangi is only a 24-year-old university graduate who could not find a job after completing his Mass Communication degree.

“I fought hard, tarmacked extensively and in the end, I found no opportunity,” he says of his difficult past. “Thereafter, I met a guy who trades in foreign exchange (forex) and he agreed to train me on the trade.”

It must have worked since Mwangi is now unrecognisable from the jobseeker who covered every inch of the streets of Nairobi in his then “only beige suit dropping brown envelopes everywhere in vain”.

Forex, he says, is a high risk, high return busines
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How price action traders can benefit from the VSA Indicator - forex trading demo login

How price action traders can benefit from the VSA Indicator ~ forex trading demo login

It is easier to spot the beginning or end of a trend after the fact when the late power of hindsight is at play. But to be able to spot a trade at the distribution or accumulation phase and open a position is the most difficult part of trading.

Whereas price action teaches us to watch the support and resistance points in conjunction with set ups such as the doji, shooting star, pin bar, bullish engulfing, bearish engulfing, bear flag or
bullish flag, and whereas we are also told to be mindful of patterns such as the double top and double bottoms, ascending and descending triangles- all these are often false.

That is why it is necessary to tamper price action with the VSA volume histogram and spread histogram. A support or resistance can be broken or respected- but to help us understand the key events at such regions we must bring into play a third party- volume. Similarly, volume helps us to distinguish between the false and true double bottoms and double tops. It also helps us to distinguish between the genuine and false flags.

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To insert the VSA Indicator into your mt4 simply follow the following instructions. Go toFILE- OPEN DATA FOLDER- MQL4-INDICATORS. You should copy and paste the indicator there and then close your mt4. Once you open the terminal again the indicators will all be there. For the purpose of this discussion we are only interested in the volume indicator. The spread divergence indicator can be a matter of self study. The saduckey is not of much significance either.

The red volume bar

The red volume bar is most effective when spotted after a down trend it must be spotted after a bullish close. It signals that the bulls have finally decided to change the course of the trend. The higher the timeframe on which the red volume indicator is spotted the greater the efficacy of the set up. The next candle after the bullish candle that has been confirmed by the red volume bar is often bearish. This is often as a result of pullback or retracement as the market retests a moving average.

It is important to note here that the retracement or pullback should ideally be accompanied by a no supply bar.

Below is AUDUSD 4 hour chart showing 2 trade entry points on a bullish close confirmed by a red volume bar after a pullback or a downtrend.

A bearish candle close with a red volume bar signals the possibility of a further downtrend on wide spread. Again the higher the timeframe on which the volume bar is spotted the higher the probability that the market will fall much further.

Below is USDCAD 1 hour chart showing a sell a further sell opportunity for a bearish close with the red volume bar

When the red volume bar is spotted after an uptrend, low spread bullish bars must follow coupled with a bearish reversal pattern.

Below is XAUUSD 4 hour chart showing a red volume bar accompanied by narrow spread candlestick or bar. It signaled the turn of events and a perfect sell

It is advisable to incorporate the upper and lower bollinger bands or the envelopes to help you know the point at which this small spread bars coupled with a reversal are forming.  Low spread bars at the top Bollinger band or upper envelope will signal an imminent reversal. Again, the whole analysis must be dependent on the timeframe you are looking at.

The white volume bar

This is most effective when spotted after an uptrend coupled with a bearish close of the candle. It signals selling pressure and that the bears have ultimately entered the fray. The resultant effect should be a bearish engulfing bar or an upthrust (pin bar).

Below is XAUUSD Daily chart. You can see that a bearish close with a white volume bar (on the white eclipse) culminated in a down move for a number of days

The retracement or pullback should be accompanied by no demand bars

On a down trend, the white volume bar could signal end of the bearish move. But this is rarely very effective and must be accompanied by small spread bearish bars. The close of the bar must also be near the middle or top of the bar or candlestick

The yellow volume bar

This is prominent during the close of day trading on the lower timeframes. It is a sign of no volume during the particular session. It is most effective when spotted after a near period of high volatility such as release of important data. It signals lack of moment on a particular direction. If it forms on a bullish close it will signal lack of smart money activity on the upside. If it forms ona bearish close it will signal lack of market participants on the downside. It is of greater effect when accompanied with the saduckey.

Below is AUDUSD 4 Hour chart. The bullish bar was a signal for a downside after the yellow bar appeared on the close

The blue volume bar

These are relevant during the Asian session but are mostly effective when constituting the no supply bar or the no demand bar.

A no supply bar is a bar with volume lower than the two previous volume bars. Its effect is felt on an uptrend. It must be a bearish bar and is confirmed by the next close which if bullish signals that the upside is still effective. It is also relevant during the retest of a previous low or the retest of a support area which could lead to the creation of a double bottom.

A no demand bar is an up bar with volume lower than the two previous volume bars. Its effect is felt on a downtrend. It must be a bullish bar and is confirmed by the next close which if bearish signals that the downside is still effective. It is also relevant on retest of a previous high which could lead to the creation of a double top.

The high churn bar

This is light green in colour. It implies high volume on a small spread bar. Ideally the next candle should be on the direction of the previous high churn bar. A bullish high churn bar should be confirmed by a bullish candle and is effective after a downtrend. A bearish high churn bar should be confirmed by a bearish candle and is effective after an uptrend.

It is important to point out that these volume bar indicators cannot be traded in isolation. They constitute part of price action and reversal set ups are therefore important. Some traders try to reason that price action is a different concept altogether from VSA. I think they are wrong. Price action can be full of false set ups and if you are not good at money management you will have probably blown out your account by the time that a perfect set up forms. VSA helps you to point out the genuine set up through the smart money activity.

Remember that the higher the timeframe the more effective the bars are in analyzing the market. Be that as it may, the signals can still be false. Hence spotting smart money activity is not a pips guarantee. Traders must develop market instinct which can only come about through constant chart interaction. Ask yourself whether there has been a trend or whether the volume indicator is showing at a good retracement point on the charts.

The change of trend will always be spontaneous. But do not chase the trade. Instead, wait for a pullback or retracement before you open a position. You will not only have limited risk but will also obtain a good risk reward.

The best way to spot a retracement or pullback is by use of the moving averages. Once you notice smart money activity, peruse through the lower timeframes for a place where price has broken through the moving average. Wait for a pullback to that retracement and then take the trade. Be careful that price is not retesting that moving average by way of another smart money activity. Hence always watch the volume histogram.

The white or red volume bar will always form at the beginning or end of a trend.
Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

I hope that this article goes a long way in helping those of you trying to trade using VSA. You can also read- how I trade usingVSA, heiken ashi and EMA.
Why you should also be trading binary options

Five great reasons why every forex trader should open a trading account with eToro 
For any enquiries you can reach me through 0728 963 087 or forexinvestigator@gmail.com.

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