New Video: How to trade forex successfully

7 thoughts on “New Video: How to trade forex successfully”

1. First, THANK YOU for this video! I always always enjoy your forex videos. A quick question on this video: you demonstrate how the pair signalled a Red Triangle on the Weekly on 12/11/08. And, you showed that the same pair signalled a Red Triangle on the Daily some seven days prior. (12/04/08)
   Is it ok to use a Daily triangle as entry signal when the triangle issues just prior to issuance of the same color triangle on the weekly?
   In the video, since the daily was already "red" by 12/11/08, once I spotted the weekly red signal on 12/11/08, would immediate entry have been proper? OR...when the Weekly issues a triangle, should we wait until the daily follows up with a daily triangle?
   Thanks again,
   Barry

   Barry,

   Thanks for your feedback. When you have a weekly triangle you need to take that signal as it relates to that market. In FOREX we use the weekly Triangles for trend and initial positions. To anticipate a signal on the daily Triangles is putting the odds in the markets favor and not yours.

   We recommend going with the initial weekly signal and using the daily Triangle as a stop. If you are stopped out, reenter on a daily Triangle providing that the Weekly trend is still intact.

   Hope this answers your question.

   Adam

2. Hello Adam,

   I would like to know if your trade triangle technology is effective on a intraday basis.
   I like the simplicty but I am more of a short term trader.

   Thanks,

   Miles

   Miles,

   Thanks for your feedback. MarketClub's Trade Triangle Technology is good for short-term trading but it is not recommended or designed for intra-day trading.

   Thanks,
   Adam

3. How much capital would you recommend one starts with to trade a forex account?

   thank you
   Peter

   ---

   Peter,

   That is a question you would need to put in front of your broker. I think it will vary depending on your objectives and your overall trading plan.

   Let me know if you have any questions regarding the actual application of the MarketClub service for foreign exchange trading.

   Happy Holidays!

   Best,

   Lindsay Thompson
   Director of New Business Development
   INO.com & MarketClub

4. when you say that weekly chart is used for trend direction and daily for timing (entry. what is the average price range in the chart used to determine uptrend or downtrend? because in the weekly chart you can find several years going up or down. what is the normal pick knwoledge of a trend direction by using weekly chart.
   thanks.

   Adrian,

   Thanks for your feedback. You are right there are times when the crosses stay on trend for weeks and months at a time. That is what makes trading currencies so great. Let's say you missed the original signal (Weekly Triangle)but you still want to get into the market. Here's what to do. BUY if and when the markets make a new weekly high or when the market make a new weekly low, SELL SHORT or exit your long position. Then you can use the daily Triangles to protect capital. You might be surprised at how well this approach works.

   Adam

5. Adam:

   Trade the triangle works well for normal market conditions.

   With volatility like this, I have lost more money trading with the triangle technology than anything else. The signals are lagging and contradicting the market price action.... too slow for market changes. It just doesn't work ...... i tried all possible combinations.

   I like the idea but it doesn't work the way you make it out to be.

   Regards,
   Matts

   Matts,

   Can you please provide us with some specific examples? Are you using the filtering technique we teach in MarketClub on your trades?

   Thanks,
   Adam

6. Adam Hewison,

   1. This video does not run all the way to the end.

   2. If we follow weekly for trend and daily for entry, we face the swap-swindling. Is there anyway we avoid this?
   -Chandra

   Chandra,

   Thank you for your feedback. I'm not sure I understand the term swap-swindling . Our approach to trading Forex is a tried and proven one. We use the weekly for the trends and the daily for timing. You do not trade against the major trend using this approach. You only want to take sell signals when the trend is down and only use the daily buy signals cover short positions.

   Hope this helps.

   Adam

7. I have read that FOREX trades aren't really in the inter-bank market for most clients - they are traded within the brokerage and sometimes the broker even manipulates the prices a bit against their own clients. Additionally, I have read that when a very large FOREX broker went bankrupt a few years ago (can't remember the name), the bankruptcy court ruled that their client's trading accounts were to be considered assets and used to settle claims of creditors, so clients had their funds tied up a long time and then got only pennies back for every dollar in their original trading account. The article recommended currency futures instead of FOREX to avoid these problems. I would appreciate your view on this.

   Jay,

   Thanks for your feedback I really appreciate it. I think the article recommending currency futures is probably a good one for most traders as you're dealing on a registered futures exchange.

   Having said that there are a great many other Forex brokers and interbank companies that are very, very legitimate and have been doing business for years. The one example you cite is just one incident in a market that is a huge. In any market that is this big, there is always going to be someone that's going to try to abuse the system. Such was the case in this particular brokers situation.

   What's nice in trading Forex is the fact that the markets are very liquid and you can usually exit or enter a market very close to the given price that's quoted.

   Hope this helps and every success trading Forex.

   Adam

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