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.
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
