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Creating a trading plan for the forex market


rajesh

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This is a one hour webinar from a former interbank trader Marco Hague . The presentation is a very brief description of his methods for creating a plan you can trade from.

 

He had spent 30 years in the markets and his system is about having a solid understanding of what moves prices in the currency world, when to trade what to trade ,and surviving ups and downs in a long term.

 

On the website a free plan with one currency pair is provided on daily basis.

Look under Forex Market Analysis and Trade plan of the day buttons.

 

MORE INFO

http://www.babypips.com/school/what_should_be_in_your_trading.html

 

 

 

Link

 

http://www.fileserve.com/file/nTuU9as

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I've just watched the webinar and it's worth viewing.

 

Trend is determined from 90SMA on 4H and Daily and Momentum is determined from RSI 14 on 4H and Daily (classic institutional analysis stuff).

 

The key is to look to other markets to see what the main forex pairs are most likely to do.

 

4H charts of the following are checked for trend and momentum: S&P futures/Dax futures/Nikkei Futures/Gold/Oil/EURUSD as they are all positively correlated.

 

There's plenty more on defining entries and daily analysis routines which will tell us whether we should be trading intra-day or looking for a longer term trending move. Much more than I expected. Of course, the website reports are plugged a lot at the end (and for anyone who wants to pay the subs. then all the analysis will be laid out for you with extra snippets of info. and levels to look for trades at).

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