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Jumat, 05 Juli 2013

Trading Forex Online: Is it a Good Idea Using a Demo Account?

Trading CFD in Forex, stocks, indices, ETFS and commodities can be beneficial and generate a larger profit but is also a market that generates losses.

As the market is a market with risk and the possibility losing money a demo account might be a good idea. But what are the advantages and disadvantages using a demo account?

A demo account is a part of the real trading account; it has the same instruments as a real account and the currency rates are the live currency rates. The advantages using a demo account is that there are no risks as the money are virtual money and the cost using the account is zero. The disadvantage is that the profit generated is also virtual money.

Another advantage is the possibility to try different trading strategies and learn how the platform works in connection to the plan; an example of a trading plan is the use of indicators such as the use of the Bollinger bands and the stochastic indicators; another example is the use of moving average and the MACD indicator.

One of the disadvantages is the risk; on the practice account is the risk zero and the money is virtual money and the money amount is large; in a real trading situation is the money real and the money amount limited; it is not possible to trade unlimited trades on the real account as it is on the practice account.

On the internet is a lot of articles about advantages and disadvantages using a demo account and they argue that it is a disadvantage using the practice account as the feeling using virtual money is not the same as using real money; this is true also in connection to the money limitation on the real account; but with the demo account is it possible to trade with lager amount and get the feeling of how it is to trade with larger amounts; the feeling of losing 1 dollar is not same as the feeling of losing 10 dollar on each pips.

Some trading platforms have a bonus or a gift card for signing up at their trading platform; if you have the interest trying different trading platforms with real money is the social trading platform eToro a possibility as they at the moment is giving away a free 20 dollar coupon; another trading platform is PLUS500 they give away a bonus for signing up; at the moment is the bonus 25 Euro.

Please notice that your capital may be at risk trading CFD.

EUR/JPY & USD/CAD H1 Update

Please click the link and scroll the pagedown:

EUR/JPY & USDCAD Update


Thanks,
Seb

Rabu, 03 Juli 2013

EUR/USD M10, M30, H1 & H4 Update

This is new feed for Volume Spread Analysys that have come from Infinity Futures Ltd and I hope it is a rather very good data provider.

General Outlook:
Anyway, there are two main scenatios for EURUSD now, and the difference is in placement of possible ent of wave (2) that is either finished OR latest leg down is a wave (b) of (a)(b)(c) Irregular Flat:
SCENARIO 1: Main on H4 TF - Impulsive bearish wave progression continues wirh wave (1) and (2) done already and the price is in the first staged of making wave (3)
SCENARIO 2: Alternate H1 TF - Wave (2) has not been finished yet and recent leg down is abc of wave (b) of larger cycle Irregular Flat Wave (2) correction. To confirm this outlook , price must go above 1.3000 level and then break the Weekly Pivot level as well.

Support/Resistance:

1.2984 -  Swing Low
1.3041 - Weekly Pivot
1.3087 - 23%Fbo
1.3097 - WR1
1.3101 -1.3111 - 38%Fibo/Agressive Sell Area /Previous wave Four Area/WR1
1.3206 - WR2
1.3251 - 1.3265 - WR3/Key Resistance Area/ Clessic Sell Area

Trading Recommendation:

Buying is preffered only if channel is broken and previous wave 4 area with round nuber 1.3000 is broken and tested as well. Otherwise go with the flow and sell this area.

Seb

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EUR/JPY H1 & USDCAD H1 Update

Please clik on the link and scroll down the page please:

EUR/JPY & USD/CAD Update

Thanks,
Seb

Selasa, 02 Juli 2013

Pennant Chart Pattern

In the post Chart Pattern: Pipe Top and Pipe Bottom is the pipe top and pipe bottom pattern illustrated; in the post is also links to other posts illustrating different chart patterns.

In this post is the pennant chart pattern illustrated; the pattern is a continuation pattern as it is a part of an already existing trend. The pennant pattern is a break in the already existing trend and looks like the triangle chart pattern.

Pennant Chart Pattern: downtrend
The image illustrates a downtrend; the trend is a pennant pattern and a breakout; it is often seen that the price returns to the breakout level and afterwards continues the trend.


Pennant Chart Pattern: Uptrend
The image illustrates an uptrend; in the trend is a pennant pattern and a breakout; it is also often seen that the price returns to the breakout level and afterwards continues the trend as described in the downtrend section.




EUR/JPY & USDCAD H1 Update

Please follow the link here:

EUR/JPY & USD/CAD H1

Thanks,
Seb


Minggu, 30 Juni 2013

EUR/USD M30 Update

General Overview:

Five waves to the downside with expanded wave (iii) seems to be done and market is up to correction.

First wave of corrective wave (2) looks complex and it is a first clue that the rest part of wave (2) might get complex in time and price as well.

Recent wave { a OR i } to the downside is in five waves and this might indicate even that  the correction is over and market will be heading sharply lower in impulsive fashion. Nevertheless, please be aware that this might be just a ZigZag wave b as a part of Irregular Flat correction wave (2).

Support/Resistance:

1.2984 -  Swing Low
1.3089 - 23%Fbo
1.3152 - 38%Fibo/First possible Distributio Area/Previous wave Four Area

Trading Recommentadion:
If next wave to the downside will be in five waves and if it will NOT break 1.2950 level than one can try to go long to try to catch wave (c) to the upside. TP is the 1.3152  as a possible distribution area.

Seb

30-DAY FREE TRIAL ON WWW.RESISTANCEINVEST.COM 
FOR ALL NEW CLIENTS. 
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