I hope that everyone is profiting in the forex market right now with their Forex Trading System. I wanted to show some more of my live trades, I was expecting these types of moves due to the extended corrective patterns we have been in.
The Mission Phoenix Forex Course Goes Live Very Soon. Head on over and check it out. Learn Forex, How to trade, and the secret forex strategies that make this kind of proven profits.
Today we’re going to learn about the ADX indicator or as its referred to as the average directional movement index in our metatrader platform and how we can use this tool for developing our forex trading strategy.
The average directional Index or ADX, is an indicator that is use to determine the strength of a prevailing trend. The ADX is measured on a scale from zero 100 with a series of lines that illustrate the trend, the strength of the positive direction and the strength of the currencies negative direction. These series of lines are actually three indicators all built in to want into the one ADX.
There are 2 direction movement indicators, one of them being the positive directional movement referred to as the green line in the video. The negative directional indicator in the video is the red line, between these 2 lines you can see the fight between the bulls of the bears and who is dominating that fight. When the green bull line crosses the red bear line then we see that the bulls have just taken charge of the currency pair and can be marked by the change in price movement.
An aggressive buy signal could be taken when the green line crosses the red and vice versa when the red crosses the green without taking into context the blue ADX line.
The blue ADX line is a measure of the strength of the trend for the foreign currency pair. When the ADX line is above 20 or 25 for our case in the forex trading video is an indication that currency pair is trending (we only trade during trending markets remember). We then watch the ADX line and should be in a position on that currency pair and ride that trend as it approaches and even exceeds a value of 40.
Here is when the fun kicks in. Currency pairs can remain overbought of oversold for extend periods of time which is what we always hope for (well when we are making money on a move). So what we watch for is for when the ADX line crosses the 40 line and then moves south towards the 20 line. This is our indication that the trend is over.
Make your trading easy with a proven method of forex trading that makes it easy forex.
-Mission PhoenixRSI Indicator in Forex Trading - Video
Today we are going to learn about the RSI indicator in Forex Trading. The RSI indicator is a technical momentum indicator which is also a lagging indicator as like all the other indicators. Where does the computers I need to the recent gains to the recent losses in an attempt to determine whether of the currency pairs going to be overbought or over sold, you will see that that the RSI’s number ranges from zero to hundred.
It is deemed to be overbought once he RSI approaches the 70 level and it tends to be overvalued at that level becomes a good candidate for a pullback that. It may correct when it reaches that level, but not necessarily, always remember that it is on a relative basis, and likewise as the RSI approaches 30 is an indication that this currency is undervalued, on a relative basis. Always remember that when using lagging indicators in forex trading everything is on relative terms, meaning that yes the currency is overvalued at the current time (much like the U.S. housing market is some locations), but that doesn’t mean that it won’t continue heading in the same direction. If it was easy, everyone would be rich right!?
The best way that I like to use RSI is rather than looking to see whether it's relatively overbought or oversold is to take divergence into account. Divergence in currency trading is the most powerful trading tool, but most people don't like to use divergence.
Another great way to get these oscillators is to just draw trend. What direction is it heading in? Is there a breakdown out from a triangle? Is there a trend that you can see clearly? Look for times when there is a momentum shift, or a reversal in the indicator. Does the indicator reverse when the currency pair runs out of steam? This may be a big indication that the preceding trend is over and the currency pair may reverse.
Recently I’ve had a few questions about the various nicknames that certain currency pairs have. This can be very confusing, because some commentators, wallets and news feeds will refer to currency pairs in their nicknames, which makes it difficult to follow along and or even participate in the conversation.
There are really nicknames for two different categories. One naming convention refers to actual currency pairs, while the other naming conventions refer to the individual currency itself.
Individual currency nicknames are as follows:
USD = Greenback or Buck
EUR = Euro
GBP = Pound Cable
JPY = Yen
CHF = Swissy of Franc
CAD = Loonie
AUD = Aussie
NZD = kiwi
The most popular currency pair nicknames along with their symbols are shown below:
USD/JPY = Dollar Yen
GBP/USD =
EUR/USD = Fiber
USD/JPY = Gopher
EUR/GBP = Chunnel
GBP/CHF = Geppy
It makes it easier when following CNBC other news broadcasts to understand what the terminology is in the special language that is used in this Forex trading niche. It’s also helpful, because financial commentary usually is at such a rapid and fast-paced that when you hear an awkward name such as the key we wore the sterling or the fiber that you don’t get hung up asking the question, “what is that”, and then this the following news announcement.
These are the major names of the Forex currency pairs and of the actual currencies, I hope this helps and defines some use for this information. Learning everything in the Forex market takes some time. There are some great courses out there that help with this, it’s also easier to learn from and mimic successful traders, and there are very few courses out there that I would recommend to friends and family. And since friends and family have been wanting me to teach them how to trade for a couple of years now. I decided to fill that need and provide the best quality course available online.
Make it Easy Forex, Learn Forex Trading with the best for Forex Day Trading System.
-Mission
Live abundantly, and then share that abundance
Mission Phoenix is going out to share abundance.
I leave in 5 hrs and I'm so excited that I get to get out of the daily routine. I will be going out to refresh, and renew my spirit, and strengthen my soul! This is not about me though. It is about sharing abundance, and it's about ministry.
You see people have a hard time about trading and making money in this way because they feel guilty subconsciously and they do not feel that it is right. Well that is wrong, I will tell you that right now. You see the forex market is even greater than any other market because we are dealing with the money flow globally between the massive amount of banks in the world. You are just capturing some of that money flow.
What you do with that money can then in turn do wonderful and marvelous things.
Don't feel guilty, trade the forex, live and love. When I tell you to go out and do something for someone else in the forex videos there is a reason for that. When you share abundance , when you share love, you will receive those things in which you desire.
To learn a little more about Young Life and what I will be doing this week Check out Mission Phoenix's philanthropy page.
Live abundantly and then share that abundance.
-Mission
Hey Everyone,
I wanted to apologize for not havening anything up for a while. You all are really excited about the upcoming forex course that I am putting together and well. It's a lot more worth than I thought it would be.
One reason it's a lot of work is because this isn't going to be some rinky dink little ebook, but video training. Because I feel that you have to have this kind of quality in order to do well in the forex.
On another note!!! Giving back is at the heart of Mission Phoenix values. It is required of people such as myself to give back. I started giving back when I had nothing. I just started with $1. I STRONGLY feel that it started changing my life. Along with a couple of other things that I also include in my training, the giving back and a change in outlook really changed my life.
Mission is not about just talking about giving back, Mission is also about doing and volunteering time.
With that said...
Mission Phoenix is participating in a 2-Day Cycling tour with the MS150. This is a organization racing to find a cure for Multiple Sclerosis. Mission will be in a group of 13,000 cyclists, cycling from Houston Texas, to Austin Texas, for an excess of 150 miles.
Please help Mission Phoenix raise money for this great Charity. Hundreds of people view this blog, so I encourage you to donate even $1, or $2, or $5. This is what I talk about when I say that as a community, as a collective fellowship. We can make a difference in the world.
To go straight to the MS150 donation website to donate click here....
MS150 Website Donate Link
To go to Mission's Website on Multiple Sclerosis where there is also a link to Donate go here.....
Mission Phoenix's Multiple Sclerosis Page - Learn More & Donate
Please help us fight this disease. The Donation is also Tax deductible for those of you living in the US.
Live Abundantly & Then Share That Abundance,
Mission
I just stumbled on this and I find this VERY interesting.
This could be enough for me to move some funds back to FXCM to give it a try.
I do like FXCM as a broker, my biggest beef with them wast that they did not have a trading platform that I agreed with.
Metatrader is not the best either, but I do believe it is the best free platform there is. Most traders use Metatrader, and because of that I do all of my analysis and teaching using metatratder. I will also be doing some tutorials in the free learning platform section of my site as well as advanced tutorials of how you use metatrader in the paid subscribtion area of my site.
The best means of trading the forex is by an independent data feed that is paid for from a high quality source. This is essential when trading with hundreds of thousands of dollars. For most people the Metatrade and the free platforms are just fine.
Here is the announcement:
MetaTrader
Trading Software
FX VIDEOS 422 PIPS PROFIT TRADING IS NOT ALWAYS ROSES
In this Forex Trading blog post where I show another Free Forex Video we look at some live trades showing you some real proof that with the right education and the right method anyone can master the Fore Market. We will show that MISSION PHOENIX has got 422 pips of profit, and this method is so easy anyone can do it. However it is critical that one must know how the markets behave to ensure protection.
I can not stress enough that a trader needs forex education in order to succeed in currency trading. Why is it is so critical? We will see in these next videos MISSION talking about closing trades that are very successful trades all because of a specific candle formation or because of specific things that are happening in the currency pair, and on the charts.
─ How does MISSION PHOENIX know these things?
─ How does MISSION PHOENIX know that the current price movements are over?
─ How does MISSION PHOENIX know to either close the trade all together or should to move stop losses to lock in profits?
MISSION PHOENIX knows these things because:
─ Of extensive knowledge of how the markets behave,
─ Only using those things that work
─ having years of trading experience.
Just a little investment in the beginning can save you tens of thousands of dollars gaining you trading knowledge. So with some patience and some time investment and the appropriate education you can have that account balance soaring in no time.
All of this training was not around when I started and now that I have been trading successfully I see that the training out there is not sufficient enough, that is not up to my standards of what people should be learning.
Why are my standards higher? Well friends and family are wanting to start doing what I do and I can not find anyone out there who I trust to send them too. So I’ve taken this into my own hands. So I’m developing the means to give them my training, an elite training that will help them. There is only one of me though and I hope that my posts are coming fast enough for you guys. Along with my philanthropy, blogging, developing my training courses, and trading for myself, that leaves little time.
I am also committed to helping others and that drives a lot of fulfillment in my life so I volunteer a lot of my time to making a difference in other people’s lives as well. Since that is very important to me and a core value of mine that I do not want to sacrifice I also have to find time for that as well.
So back to trading. In this video I will talk about take profit orders for the first time. I don’t use them that often because I used to and found that they limited my profit potential. Here is what happens:
─ You get in at the start of a good trend and you put in a take profit order for 250 pips profit and it’s hit!
─ WHOOO HOOO, great job 250% profit
─ Then as you feel really good about yourself you go on trading
─ This is the real life of trading!!!! No one will tell you this and they will hide it in their systems that they tell you about
─ They also will not tell you that it’s never perfect, I was being very generous with the above example. Usually traders loose all of their profits plus some when they move on and try to trade other things.
Those systems out there give you the signals and they look good on paper but look at the time frame that they are on and ask yourself some questions about what trading style that is.
─ Are you at your charts for those periods of time?
─ By the time you would have gotten to your charts could you have entered a position in enough time to make a profitable trade?
─ What about the exit signal
─ How about the trading style?
─ Those systems look all great on paper, but in real life they stink
─ Really evaluate them and try to apply real life to the trades, you will find that most of the time you will lose and lose big when they are claiming great profits
So Lets Set The Record Straight
You will watch:
─ MISSION PHOENIX get into trades late
─ MISSION PHOENIX get out of trades late
─ MISSION PHOENIX be very imperfect
─ MISSION PHOENIX make mistakes on a daily basis
─ MISSION PHOENIX win big in the forex currency trading market.
How can I win so big with such a lazy proven system?
─ Because I’m a “little” lazy and I HATE to loose.
─ I sought out my method and my education and tailored it specifically for me
This works for anyone and when I started talking with some of my trader friends I found that I was making just as much as them or blowing them out of the water.
In this video we are going to see some more trades that I’m in, 5 of them if I remember correctly. MISSION PHOENIX will also show you that as traders we sometime see some losses during the trade. Does that mean that we close the trade for a loss? No it doesn’t! Not unless there is something telling you that you should close the trade (how do you know if something is telling you, because you use your education and know that the market is telling you that there is nothing wrong and to not close what is going to be a winning position, or it could tell you the opposite and alert you to get out).
In these trades We have 500+ pips profit and we will see that We have an open trade with 99+ pips loss for a total 422 pips profit in trades in 1.5 days!
Now we might stay in these trades for days or weeks? Depends, we will see, but my hunch says “NO” (Really It’s Not a Hunch, I Don’t Have Hunches, there is something telling me that these trends are close to over) and we will look at that in the video as well. I am preconditioned on these trades to jump ship at any sign of things not working out.
Why? Well we will talk about trading mentality versus the specific situation at hand and how we know things could reverse on us for a substantial correction at any time.
This is very important in trading and the key to much success and failure. Just this post alone is worth so much, and you will never get this teaching in a seminar, I’ve taken most of them and the stuff they don’t want you to know, what I’m sharing right here in this blog is what makes and keeps profits, and there is even more that I want to share with you.
We will see how emotionless I am during these trades and with profits and losses:
─ How I am able to do this?
─ What protection mechanism am I using?
─ What is it that has been kept a secret from you?
This is really cool stuff guys. Let me know what you think, feel free to leave comments on the blog below. I read all comments.
Let me know what issues you have in keeping those profits that they do not teach you how to protect, and we’ll see about getting that worked out for you.
I hope you enjoy the video; it is long at 29:12 in length.
-Mission
Live abundantly and then share that abundance.
Forex Training Forex Trading
Video is 29:12 in length
This was just too good, that I had to post it. A little change in pace, I know from complete forex training, but the ideas are still the same. Also take special note, who you take your financial advice from, who influences your investing?
Robert Kiyosaki Why the Rich Get Richer
Investing in Better Research by Robert Kiyosaki author of Rich Dad Poor Dad and The Cash Flow Quadrant
Posted on Thursday, January 17, 2008, 12:00AM
A few days ago, a reporter asked me if I was losing money in real estate. My reply was, "No, I'm making money."
Confused, he asked, "How can you be making money during the subprime disaster?" I explained that since the real estate market took a downturn, there were more people renting rather than buying, which is great for my apartment business. I also informed him that I'm raising rents since demand for affordable apartments is so high. When someone moves out, I increase the rent and new tenants line up, which means my cash flow is increasing.
He then asked, "Are you looking for new investments?"
A shocked look came over his face when I said, "I've been investing heavily in the stock market since August 2007. I've moved several million dollars into the market."
"The stock market?" he stammered. "Stocks are crashing. Why are you in the stock market? Besides, I thought you were a real estate investor?"
Ignorance Isn't Bliss
As Warren Buffett has said, it's important for society to have accurate and informed sources of information. While I agree, I sometimes wonder about the intelligence of many financial journalists, both in print and the electronic media.
For example, lately on financial TV stations, the reporters have been talking about the run-up in gold and asking, "Is it time to invest in gold and gold stocks?" What a ridiculous question. Now isn't the time to be investing in gold or gold stocks -- that time was 10 years ago, when gold was below $300 an ounce. Investors should've taken substantial positions when gold was cheap. For reporters to be talking about gold today is no different than them reporting on the hot real estate market in 2005, just before the top blew off.
I had dinner with a friend of a friend the other night and he was telling me about the Rothschild formula for investing. According to him, this involves not participating in the first 20 percent or the last 20 percent of an investment run-up. Instead, it's investing in the middle 60 percent, when risks are low and the direction of the price is determined. As the asset value approaches what appears to be the last 20 percent, you sell and move on to another asset class.
As we all know, most amateurs (and, possibly, many reporters) only participate in the last 20 percent.
Take Notes
I wondered if the reporter who asked why I was investing millions in stocks was an investor himself. I did my best to explain to him that there are two things professionals invest for: 1) Capital gains, and 2) Cash flow.
I said, "The amateurs who come in at the top 20 percent of a market are generally investing only for capital gains. In the last real estate boom, the 'flippers' who got no-document, zero-down loans paid very high prices, and hoped for a greater fool than them to take the property off their hands.
"These are some of the people being faced with forecloses today. They're the investors who make the news -- not the investors who are making money."
The reporter then asked me, "So what do you invest for?"
My reply? "Both. If I can, I want both capital gains and cash flow."
I went on to explain that I was investing millions in stocks that were paying a high dividend -- cash flow -- and also had their prices battered down by the market crash, a loss of capital gains.
Spelling It Out
He wasn't the brightest reporter, since he had trouble with the idea of investing for both cash flow and capital gains. After about an hour of explanation, he finally began to understand that I'm not just a real estate investor -- I'm someone who invests for capital gains at a great price, or cash flow at a great price, regardless of the asset class. If the deal is right, it doesn't matter if it's in real estate, commodities, a business, or paper assets.
Here's an example of capital gains for a great price: Back in the 1990s, every time I had some extra cash I would buy some gold or silver. Although I didn't receive any cash flow from gold or silver I knew I was purchasing the metals at a great price, and that someday those prices would rise again.
An example of buying for cash flow at a great price is when I buy a stock that pays a dividend. I wait until the stock market dips and then buy, which is what I'm currently doing. One of the better companies I've been buying is a bulk cargo shipping company that's hauling U.S. grains to India. The more the dollar drops in value, the more grains we export. Every time the market drops, I buy more of this stock at a great price, because I love the cash flow from dividends.
Finally, an example of buying both capital gains and cash flow at a great price is when I find an apartment building at a bargain, and then increase the rents. By doing so, I increase the cash flow and the property value, which translates into capital gains.
Leave It to the Pros
When I watch professional football, I love listening to John Madden because I know he knows what he's talking about. He's been both down in the trenches and in front of the bench as a coach. He knows the game. By that token, one financial reporter I respect is Bloomberg's Kathleen Hayes. She's a savvy reporter who knows what she's talking about. I wonder about some of the other financial reporters.
The problem with much of the financial news in print and on the web, radio, and television is that it comes from journalists who may not be investors. When I listen to most journalists whine and cry about the subprime mess, the slowdown in the economy, and the volatile stock market, I can all but tell that they're not really investors. None of these events really has much impact on professional investors, who follow market trends and are familiar with the underlying fundamentals of the assets they investing in.
So the next time you hear a reporter ask, "Is this the time to be getting into stocks, bonds, real estate, gold, silver, or oil?" remember that it's probably the time to be looking elsewhere. And keep in mind the Rothschild formula of investing. You never want to be too early -- and you also never want to be too late.
Forex Training Forex Trading
I have more videos on the way, the markets have been moving pretty good lately. I'm afraid that I may be slowing down for a little while. Everything has moved so well that we may enter a corrective period, this is when I stay out and protect my profits until we start trending again.
The Trials of a New Forex Trader - Another Case for True Forex Training
For this post I wanted to share a good post from a beginner out there in the market. Sometimes I take for granted my method, my education, and my results. It's hard fore me to remember the days of so much uncertainty and all of this seams so simple now. It is very important that you get to sit beside a professional from time to time. To actually do this costs extreme amounts of money, however there are a few professional traders out there that deliver this type of service through the internet via videos. It is vital that mentorship be a part of training. It takes time to start seeing the same things that the profession starts seeing. You can be trained but then people forget, they have to see how the whole thing is put together, time and time again.
Like I said there are mentorship programs out there that are pretty good. I have only found one of them that I sort of like, and I barely found that one. Remember these guys are making tons of money and could careless whether other people out there get it or not. You must find someone who is more interested in teaching and helping others as a driver. There are very few individuals out there that feel this way and that do this. That is why I am here, I'm driven to help my friends and family, and in doing so the means in which I am getting this done lends itself to everyone out there in the world.
So I found this blog post by Colin McGinley. The following is quoted and taken directly from him, and I am not the author of any of the following. Colin did a great job capturing what it is like as a new trader without knowledge and education and utilizing a method that gets you consistent results and prevents you from trading during the times that most people loose all of their gains.
Written by Colin McGinley
My first post of the new year is going to be of the slightly grisly kind. I am going to break down some of the figures that come from my trading results during December 2007.
If you read my blog last month you’ll know that I completely lost control of my trading situation and basically imploded my trading account.
Hopefully I’ll be able to focus on more positive, forward looking topics soon but I have posted a monthly review of my performance each and every month on this blog and I think it is important that I do so as usual. It sort of marks the end of one stage of my trading career and the start of another. After such a traumatic event nothing can ever be the same again.
I closed out 25 entries during December. Only eight of these entries were closed out in positive territory. Fully 14 of those entries were fatefully closed out when I threw in the towel on my positions on December 19.
My account return for the month was -79.09%. To get the true impact of my disastrous December this is what my account equity for the whole of last year looks like on a graph:
There were many minor errors and mistakes in the prior weeks that culminated in this undesirable result. My trading had become ragged. I needed a break from trading to recharge my batteries but didn’t do so. I didn’t avail myself of the opportunity to extradite myself from the situation when I had the chance. I was pushing myself too hard. I was becoming impatient. I didn’t follow my gut. I didn’t step back and see the bigger picture often enough.
Obviously I want to try and make sure that I don’t make the same mistakes again going forward.
It’s pretty easy to quantify the ways in which this experience has not been pleasant at all. Losing money is never nice. Losing lots of money is even worse. Having to tell your spouse exactly how much money you’ve just lost is something I don’t ever want to have to do again. Especially when future use of that money was linked to potentially moving house or your child’s education.
You doubt if you have what it takes to be a successful trader. Your confidence takes a severe blow.
On the other hand there a few positives that can be taken from the situation. In a way I have the opportunity to completely reboot my trading approach. I can step back and examine my whole trading plan. I can pick over two years worth of trading results to try and determine what things worked well for me and what were my weaknesses.
I am currently putting in place tweaks to my trading plan, mainly on the money management side. The plan for the immediate future is to lock in these changes and to slowly start building back up my confidence by getting back into the market.
I just really love this post, and Colin I'm working hard to get you on the right track. As many of you have mentioned to me I haven't posted anything in a little while. I have been working frantically along with trying to trade on developing a course for you guys. I know my profits are unlike anyone else out there and you want to know how I do it. It very simple, yes it is, and I want to teach. So I've been hard at work developing the course for all of you. It is going to be quite thorough and well I think awesome. I can't wait to start hearing the success stories. So stay posted and we are going to start making some great profits.
-Mission
Live abundantly and then share that abundance!
Free Forex Trading Analysis - Continued GBP/JPY Analysis
The forex markets are really fun and it's now finally great that the currencies are starting to move after a considerable time of consolidation. Our Great British Pound (GBP) vs. Japanese Yen (JPY) has turned out to be a very profitable trading currency.
Forex Training Forex Trading
Where we left off we were looking at a little Elliot Wave Analysis, We used some Fibonacci analysis as well to look at current price movement. I was also biased towards taking a long position, however notice how I did not allow my bias take over and place a bad trade. In the analysis we say cases for both positions. Long or Short (going up or going down). The deciding factor was how the currency behaved at a critical support resistance zone. When the currency broke that zone, then retested the zone and continued down that was a good low risk entry position downward.
Again we are going to take another look at this currency and see if it is now time to get it. As will most analysis in the currency market the decision is to wait. We spend most time waiting as a currency trader and that takes some patience. However, we are just looking at 1 currency, I am looking at all currencies when I am doing my analysis , and there is typically one currency that is always trending.
It is important to understand that we do not "go to the market," meaning that we go looking for entry points. Entry points should scream out at you, and then when you have the confidence and the patience to then tell that market that is screaming at you "ok, so you're telling me to get in, I'll tell you what, you continue your move and if you retest the new broken support zone and then continue in the same direction that I will believe you and then I will get in." This is called the "market coming to us." We then tell the market to give me proof, it does and we then see we have entered at the beginning of a trend.
So back to waiting. Here is another video showing that same GBP/JPY currency pair, and again we are waiting to see what happens and at this point our job is to do nothing but observe.
