Summary
17 Jun 2008 

Summary

If you are looking for an automated piece of software that tells you exactly what to do in trading so that you can make a profit when you are betting on horse races then the Supreme Trading System is the piece of software for you and the suitable one.
• If you use the Supreme Trading System correctly you will make money. This is because the software tells you exactly what bets are likely to be most profitable. You have to choose well the time frame which suits your personality
• The right time frame depends on your personality you have to feel comfortable with the time frame you are trading in. there is always a feel of pressure when you trade because there is the real potential for loss or gain and that will affect you to some degree. You should however not feel that the reason you are feeling pressure or frustration is because things are happening so fast that you find it difficult to make decisions or so slowly that you get frustrated.
• There are three types of time frame you can choose between them the most appropriate one for your personality and then stick to it.

• Using multiple timeframes resolves contradictions between indicators and timeframes. Always begin your market analysis by stepping back from the markets and looking at the big picture.
Admin · 191 views · 1 comment
Six Steps to Setting Up Your System
17 Jun 2008 

Six Steps to Setting Up Your System

In this section, we will examine the process of constructing a trading system, how to follow six steps in order to reach a good plan for trading and the considerations that need to be made, and some key points to remember.
1. Setup to begin constructing a trading system you will need several things such as data - Because the system designer must use extensive back testing, past price history is essential to constructing a trading system. Software - Although it is possible to develop a trading system without software, but it is highly impractical. Automatically place trades, Code a trading system, back test your strategy
2. Design - The design is the concept used behind your system, the way in which the parameters are used to generate a profit or loss. Sometimes, this programming can be done automatically via a graphical user interface. This allows you to create rules without learning a programming language and this would make it much easier for you.
3. Decision Making - There are many decisions to be made at this point: • What market do I want to trade in?
• What time period should I use?
• What price series should I use?
4. Practice - Back testing and paper trading are essential to the successful development of a trading system:
• Run several back tests on different time periods and make sure that the results are consistent and satisfactory.
• Paper trade the system (use imaginary money, but record the trades and results), and again, look for consistent profitability.
• Carefully check for errors in the program. These can be a result of failure to fore-see certain circumstances that have undesired repercussions.
5. Repeat - Repetition is very important. Keep working on the system until you can reach a profit and a lot of money
6. Trade - Be sure to use non-automated trading until you are confident in the system's performance and consistency. It takes a long time to develop a successful trading system, and before you perfect it, you may have to endure some live trading losses to detect glitches.These six steps provide you with an overview of a well trading system .
gain more knowledge through http://www.forexgen.com
Admin · 171 views · 2 comments
What is a Candlestick?
17 Jun 2008 

What is a Candlestick?

What is a Candlestick?
Back in the day when Godzilla was still a cute little lizard, the Japanese created their own old school version of technical analysis to trade rice. A westerner by the name of Steve Nison “discovered” this secret technique on how to read charts from a fellow Japanese broker and Japanese candlesticks lived happily ever after. Steve researched, studied, lived, breathed, ate candlesticks, began writing about it and slowly grew in popularity in 90s. To make a long story short, without Steve Nison, candle charts might have remained a buried secret. Steve Nison is Mr. Candlestick.

Okay so what the heck are candlesticks?
The best way to explain is by using a picture:


Candlesticks are formed using the open, high, low and close.
If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn.
If the close is below the open, then a filled candlestick (usually displayed as black) is drawn.
The hollow or filled section of the candlestick is called the “real body” or body.
The thin lines poking above and below the body display the high/low range and are called shadows.
The top of the upper shadow is the “high”.
The bottom of the lower shadow is the “low”.
Admin · 156 views · 4 comments
Long and Short Bodies
17 Jun 2008 

Long and Short Bodies

Long white candlesticks show strong buying pressure. The longer the white candlestick is, the further the close is above the open. This indicates that prices advanced significantly from open to close and buyers were aggressive. While long white candlesticks are generally bullish, much depends on their position within the broader technical picture. After extended declines, long white candlesticks can mark a potential turning point or support level. If buying gets too aggressive after a long advance, it can lead to excessive bullishness.
Long black candlesticks show strong selling pressure. The longer the black candlestick is, the further the close is below the open. This indicates that prices declined significantly from the open and sellers were aggressive. After a long advance, a long black candlestick can foreshadow a turning point or mark a future resistance level. After a long decline a long black candlestick can indicate panic or capitulation.
Even more potent long candlesticks are the Marubozu: Black and White. These candlesticks do not have upper or lower shadows and the high and low are represented by the open or close.

learn more through http://www.forexgen.com/
Admin · 200 views · 4 comments
Long and Short Shadows
17 Jun 2008 

Long and Short Shadows


Upper shadows represent the session high and lower shadows the session low. Candlesticks with short shadows indicate that most of the trading action was confined near the open and close. Candlestick with long shadows show that traded extended well past the open and close.
Candlesticks with a long upper shadow and short lower shadow indicate the following: buyers dominated during the session, and bid prices higher. However, sellers later forced prices down from their highs, and the weak close created a long upper shadow. Conversely, candlesticks with long lower shadows and short upper shadows indicate the following: sellers dominated during the session and drove prices lower. However, buyers later resurfaced to bid prices higher by the end of the session and the strong close created a long lower shadow.
Other type of Candlesticks are with a long upper shadow, long lower shadow and small real body. They are called spinning tops. One long shadow represents a reversal of sorts; spinning tops represent indecision. The small real body (whether hollow or filled) shows little movement from open to close price, and the shadows indicate that both bulls and bears were active during the session. Even though the session opened and closed with little change, prices moved significantly higher and lower in the meantime.
After a long advance or long white candlestick, a spinning top indicates weakness among the bulls and a potential change or interruption in trend. After a long decline or long black candlestick, a spinning top indicates weakness among the bears and a potential change or interruption in trend.
Admin · 190 views · 2 comments

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