A Free Forex Trading System - How To Trade Forex Using Flag Patterns

In this article you will find an outline of a profitable and free forex trading system. The article shows how to trade forex with flag patterns So what are Forex Flag Patterns? Forex flags are a pattern that has a distinct resemblance to a normal flag that can see flying on any standard flagpole. A flag pattern is a continuation pattern that indicates that the market will continue in the direction...

Automated Forex Trading System – several tips to choose the best one

Currency trading enables many people around the world to earn good money working just several hours a day. Foreign currencies market is very profitable, but at the same time it is very risky. Every day we can hear the sad stories from the people, who lost their last money because they wasn`t enough careful working with foreign exchange rate market. So the only way to succeed in foreign currency trading...

Why Use Multiple Exits?

A recent message from one of our members questioned our use of multiple exits and the fact that the exits in a particular system were very complex and would sometimes move closer to the prices and then suddenly move farther away. The member questioned whether the exits were working properly and wondered about the logic of having so many different exit strategies operating within one system. I sent...

Trailing Stops - The Chandelier Exit

In a previous article we discussed the Channel Exit which trails a stop based on previous LOW points. In this Article we will discuss a stop placement strategy that trails our stop based on previous HIGH points.          The Chandelier Exit hangs a trailing stop from either the highest high of the trade or the highest close of the trade. The distance from the high...

The Money Management Exit

    In 'Importance of Exits' we emphasized the importance of exits in general and pointed out that it is the exits and not the entries which actually determine the outcome of our trades. Now that we have established the importance of exits we will be more specific and write about various types of exits. Probably the simplest and most critical exit is the money management exit or the...

Switch Time Frames For Better Exits

I just returned from a weeklong Trader's Camp hosted by Dr. Alexander Elder in a beautiful island nation in the South Pacific called Vanuatu. When I studied geography in school many years ago, Vanuatu was known as the New Hebrides islands. Vanuatu is located about 1,000 miles west of Fiji. If you have read Elder's excellent book, Trading For A Living, you will recall that Dr. Elder is an advocate...