FOREX TRADING

How to use relative strenght index!

2008-12-31T19:08:00.000-08:00

Here is how i use relative strength index with much success and sometimes little failure but overall this indicator is helpful if well understood about how it reacts to the forex market.
when i start my trading day i first look at the rsi in relation to its water mark that is where it is? if it is above the 50 mark i know we are in an uptrend and if it is below the 50 mark i know we are in a downtrend. Then off course i consult the other indicators like macd and stochastic to have a clearer and better direction as to where the market is going remember the two things you want to know in trading are what is the direction of the market and where is it that you will enter to take profit at the right moment understanding rsi in conjunction with these other indicator and the use of pivot points has been the best way of knowing when to enter the market.
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This is a trade i entered sometime ago note how the rsi crossed it 50 mark to indicate that we are now in a down trend.back test these indicator on anytime frame but i recommend you tested and using it on the one hour chart as it has proven to give more accurate and trusted signal there.
happy trading!!!

What is forex rsi

2008-12-31T18:32:00.000-08:00

Many traders, especially Forex traders would definitely agree that today and other times, it can be very difficult trading currency and trying to earn consistent winnings, which are very hard to come by for a lot of people. When dealing with Forex, people need to know about the RSI, which is the Relative Strength Indicator. This tool is very helpful when dealing with the Forex trading strategy. The RSI strategy is used to measure the value of currency that is being traded relative to the same currency during a fixed time period. Usually, it consists of 14 bars on a scale that ranges from 0-100. It is important know how to use RSI and once you understand it, you are sure to be able to make consistent winnings.

With Forex trading, the platforms have a 9 period look back period, though Forex traders can use many different periods and have many to choose from. Basically, the shorter that the period is, the more changeable the RSI is, and this then produces more Forex trading signals. The opposite of this is that the longer the Forex trading period, the RSI becomes much more stable and in the end produces less trading signals.

When dealing with the Forex market system, the RSI is able to show the Forex market activity. The RSI indicator is one of the most popular and widely used indicators when dealing with the Forex market. It shows the activity in the market on whether things are over bought or over sold, which becomes very useful to traders. The RSI is able to provide the Forex traders with the direction of how the Forex system is moving. With the help of the RSI, Forex traders are able to make reasonable and sensible decisions, depending on how the Forex market is flowing.

When using the RSI and the number it provides, it is important to know that the greater the number, the greater over bought market there is presently. And accordingly, the opposite is also true. The smaller the RSI number, the move over sold the Forex market is. With this knowledge, Forex traders are able to make smart decisions of what they should do next.

Since the RSI is used to measure the point when the Forex market is oversold, overbought, or has the capability to continue to move in the same direction, it becomes very helpful and extremely important to know how it works. When the RSI is above 75, the Forex market is overbought, but when it is below 25, the market is oversold.

The RSI is also very helpful in other ways. It helps Forex traders who are looking for micro reversals and macro reversals dealing with the Forex market. With this added assistance, more and more people have decided to use and determine which action they are going to take depending on the RSI.

When trading Forex, it is very important to know how RSI works and how to interpret the information that is provides. To be successful in the Forex market, knowing RSI can become a big help.I recommend you visit Smart Forex Live for more information and tips on Forex Killer.

How to trade forex pivot points effectively!

2008-12-29T17:51:00.000-08:00

Effective market timing - or when to enter and exit a trade - is always a top issue among FX traders. This is where pivot points can be used in an effective Forex trading system.

Pivot points are basically a turning point in the currency markets. They are the point at which market sentiment has effectively switched from over bought to over sold or bearish to bullish, or any way you want to describe a market switching directions.

Pivot Point Magic

The fact is that many Forex traders trust and rely on them because they work. And the magic of why they work is because so many traders trust and rely on them. It is a self-supporting system. They are used to measure the relative strength and weakness of the currency pair you are trading.

The Calculations

If are trading manually (i.e. without an automated trading system, or trading robot) then you will have to do some math. If you have an automated system then this work will most likely be done inside the program for you.

So lets look at the math. The most common pivot point calculation is a simple average of the high, low and close of a previous period (or session).

So for example the High + the Low + the Closing Price / 3 = your pivot point.

So lets make up some pretend numbers for the EUR/USD and take a look

Open: 1.2386

High: 1.2474

Low: 1.2376

Close: 1.2458

Then to calculate the pivot point you would come up with

PP = (1.2474 + 1.2376 + 1.2458) / 3 = 1.2439

But what does the number mean. It simply means that if the market sneaks past the price of 1.2439 then the Bulls are prices higher. And vice-versa if the currency pair is trading below this 1.2439 then bears are effectively pulling prices lower. And for trading decisions this means that the prices will most likely stay under or over that Pivot Point until the next trading session.

Ahh, but here in lays the problem of pivot points in Forex trading: the markets never close. So what determines when one trading session ends and when another begins? For most traders they refer to Greenwich Mean Time as the beginning and end of the "trading day." This would mean that the trading day begins at 00:00 GMT and tends at 23:59 GMT.

An Effective Forex Pivot Point Trading System

Pivot points turn out to be best used inside a system for quick-turn trading. If you want to learn more about an automated way to trade Forex pivot points using an automated trading system visit > http://ForexTradingRobot.info a popular site for veteran traders and beginners alike.

How To Trade Breakouts Perfectly In Forex!

2008-12-27T18:29:00.000-08:00

This trading strategy is a simple way of building long term wealth because there is no correlation in the market between the complexity of an indicator or method and its success.

In fact the opposite is true. Most of the world's top traders who have made consistent profits have used systems that are essentially simple. Simple systems are the best because their logic is easy to understand and implement. If the system is easy to understand, it is easier for a trader to execute it with discipline. There is no point in having a system unless you have confidence in it, to trade it with discipline, even when faced with a losing run of trades.

There are some trades that are more valid than others and the probabilities of the breakout turning into a strong trend are greater. we need to look at some basic criteria for a evaluating breakouts in terms of their probability of success.

Generally, the more times a line of resistance or support has been tested the more important the violation will be if the breakout occurs. We generally never trade less than three tests. What I am trying to say is, you need a minimum of two to three relative equal highs and lows to have a true consolidation base.

The time frame between the tests of resistance and support is also important, likewise the longer the support or resistance has been in place, the more valid the break will be when it comes. Trading breakouts is a great method of catching the really big moves that can pile up big profit - which is the aim of all traders. Every trader could use a breakout system if they want to. The fact, however is that they don't. The fact that the bulk of traders don't want to is the reason why the system works and will continue to work and make mega profits for those that understand the simple concept.

Forex Trading Made Easy!

2008-12-27T18:26:00.000-08:00

How to trade with pivot point:

Pivot point in my own opinion represent the best and most reliable way to trade this market as it is only when price gets or come close to a pivot line that all professional traders in the world will be looking to take action. In my own opinion pivot point is the best trading style or strategy to trade the foreign exchange market profitably.

So the question of all questions is when to buy and when to sell. My answer is when you see price break through a pivot point going up for example only at that point should you wait for price to go back to the broken pivot point that was recently penetrated. Plus of course the secondary inputs of the other indicators to clarify and support your decision that you were right. Then if the other indicators confirm an upward continuation as in this example, then you will seek to enter as close to the pivot point that was penetrated as possible. Then take your profit by targeting the next pivot point in your calculated points, or you can move your stop loss to the next point to take more profit in the trade as it continues in your favor.

Foreign exchange trading can be very profitable and may mark the end of your 9 to 5 job with little time to spend in front of your computer. This is because if one is to consider the size of the market it will give a well trained and tutored trader the opportunity to make a huge profit, not to talk of the leverage the market gives you. Learn all you can and demo trade, before going live and you will surely quit your 9 to 5 job.

Happy trading!

Forex Trading System Advanced!

2008-12-27T18:16:00.000-08:00

The Fibonacci and Elliot wave:Best currency predictive tool.

The system comprises of the following indicators:
1.Fibonacci
2.Elliot wave
3.candlesticks formation
The Fibonacci retracement levels:0.382,0.250,and 0.750 are very important because trading currencies with Fibonacci tools has been some traders strength in the forex market.

Elliot wave:The primary reason for introducing this powerful trading strategy is to prove the power of Elliot wave theory because it is one of the best indicators that could be used to determine the markets movement from down to top and back down.I have discovered why many traders lose money and also trade the currency market without confidence.The Elliot wave will take traders to the highest altitude and build their confidence from wider viewpoints;it also shows traders how the market is operating.

The Elliot wave is an analysis of the underlying structure of the foreign exchange market.It helps to know the tops and bottom of the market.The wave sequence consist of fives corrected by threes.The sequence remains constant no matter what degree of wave is being analyzed and the wave rhythm is observable as long as there is a minimum amount of trading volume.

Elliot wave could be stretched or compressed(both in time and price)but the underlying form remains constant and,the movement will unfold in it primary direction in series of 5 waves,labeled 1 through 5 waves.

A5 wave movement is normally corrected by a 3 wave movement in the opposite direction.The movement waves(1-5)are called cardinal waves while(1,3,and 5)are called impulse waves.The corrective waves are designated with small letters (a,b,c,d,e).

In real time you are only right when you make money.learn more about Elliot wave and Fibonacci to make more profit in your trading.

Happy trading.

How to pick Extra Profits Scalping the Forex Market!

2008-12-27T18:14:00.000-08:00

The purpose of scalping is to make small profits while exposing a trading account to minimal risk,which is due to quick open/close trading method.Using this strategy it is wise you go for 10 to 20 pips plus spread per trade and demo trade this strategy for at least a month before going live with it.

This is a simple and easy to use strategy that requires you to stay disciplined, with little time in front of your computer.it is traded on mostly 15 minutes chart but nonetheless as it is, in trading,the foreign exchange market nothing is cast in stone. That is,you can still modify it and use it on other time frame for example you could apply it to the one hour chart and see how it works.

Trading Period For This Strategy:

Always watch out for trading opportunities around 9 am to 12 pm London trading session for morning trade. And for the afternoon trade(new york trading session)watch out for this time 2 pm to 4 pm London time. An additional advantage for technical traders is when there are no major news event affecting the currency,you will always see a clear trend for the day. When trading using technical indicators make sure you know when the news of the currency you are trading is due out for release so that you can position yourself. That is,close your open trades 10 to 15 minute before news comes out,or enter into a position 10 to 15 minutes after news has been released.

The set up:insert on your chart exponential moving average 4,linear moving average 10. Modify moving average convergence and divergence indicator (10,24,7)

Buy signal: Buy when the exponential moving average 4 punches through the linear moving average 10 going up and,also confirm with moving average convergence and divergence indicator punching through its zero line.

Sell signal: Sell when the exponential moving average 4 punches through the linear moving average 10 going down, also confirm with the moving average convergence and divergence indicator going below its zero line.

Happy Trading

How to scalp the forex

2008-12-27T18:12:00.000-08:00

The only way to make small account big in a short period of time is through the use of really high leverage. But hold on a minute ... do not jump out of your seat right away. Start with reasonable leverage for scalping, for example 20:1 or at most 50:1, then move on as you see scalping technique improve. But even before that do not be lazy to demo trade your scalping technique - make sure it will not disappoint you later...

The best way to trade with high leverage without risking blowing up an entire account in only 10-15 trades is by trading with a tight stop loss. Trading without stop loss is like jumping off a cliff with any para shuts on.that i tell you can be very very risky.

It is smart to decide on the size of the trading lot and exposed risk involve in any trade in advance.
Do a simple math: calculate the worst possible situation, e.g. 10 consecutive losses in a row; then check if your account will survive and if there be something remaining to move on. although 10 losses in happening in a row is a very unlikely scenario, you cannot deny it...

Another factor to keep in mind is spread which brokers charge for each currencies pairs.
The higher the spread the harder it will be to collect targeted pips why because once trading position is opened a trader must cover the spread cost and earn pips for broker first and only then make his own pips.

And, of course, the lower the spread the easier/faster it is to accumulate pips.

HOW TO TRADE BREAKOUTS PERFECTLY

2008-08-04T01:53:00.000-07:00

This trading strategy is a simple way of building long term wealth because there is no correlation in the market between the complexity of an indicator or method and its success.
In fact the opposite is true. Most of the world’s top traders who have made consistent profits have used systems that are essentially simple. Simple systems are the best because their logic is easy to understand and implement. If the system is easy to understand, it is easier for a trader to execute it with discipline. There is no point in having a system unless you have confidence in it, to trade it with discipline, even when faced with a losing run of trades.
There are some trades that are more valid than others and the probabilities of the breakout turning into a strong trend are greater. we need to look at some basic criteria for a evaluating breakouts in terms of their probability of success.

Generally, the more times a line of resistance or support has been tested the more important the violation will be if the breakout occurs. We generally never trade less than three tests. What I am trying to say is, you need a minimum of two to three relative equal highs and lows to have a true consolidation base.

The timeframe between the tests of resistance and support is also important, likewise the longer the support or resistance has been in place, the more valid the break will be when it comes. Trading breakouts is a great method of catching the really big moves that can pile up big profit – that is the aim of all traders. Every trader could use a breakout system if they want to. The fact, however is that they don’t. The fact that the bulk of traders don’t want to is the reason why the system works and will continue to work and make mega profits for those that understand the simple concept.

Once a clear break has occurred, the odds are the trend will continue in the direction of the break. If the trend reverses quickly, and goes back to the breakout point rather than continuing , the break is likely false. Stops should therefore be at or near the breakout point. Look for opportunity when the price or market is consolidating; the more the consolidation the more the volatility will be or breakout. Also check out for double tops or bottoms and candle sticks patterns that trade the same low. That will serve as the tunnel and you will be watching for any candle that will break any of the lines and make your trading decision as fast as possible.

The trade setup:
Insert E MA 200 as the trend line EMA 8 as the fast and EMA 20 is to confirm the breakout

Entry rule:
Once the price breaks through one of the trend lines and a current price bar closes outside the tunnel, place a buy/sell in the direction of the breakout. If price penetrates the trend line but did not close outside the tunnel cancel the previous trend line and draw another one according to the new conditions.

Exit rules:
You could set 30 to 20 pips or you could trail your profits by setting 5 to 10 pips below or above the trend line and apply trailing stops of 15 or 25 points, although it is believed that the price after the breakout from the tunnel will be more than the width of that tunnel, so expect more pips.

Happy trading.

ALL YOU NEED TO TRADE FOREX PROFITABLY!

2008-07-07T16:58:00.000-07:00

Before you can make it big in the forex market,there are traits or building blocks that i believe to be the foundations to the forex profit.below are the traits you need to have.

Trait one.(1) currency trading is not a get rich quick scheme or platform.currency trading is an art or skill that takes time to master.skill traders can and will always make money in this field,nonetheless like any other business or career,success don't just happen overnight.
here is a success formula in forex trading. practice +patience+persistence= profit
As it is said there is no substitute for hard work,practice your strategy on demo account and pretend that the virtual money is yours.Do not open a live account until you consistently making profits on your demo.stick to your trading style and strategy and you will succeed.

Trait two(2).Follow on or two major currency and stick to it.it is recommended that traders choose one of the four major currency pairs.the eur/usd is the most commonly traded pair because of its spread is the best due to its liquidity .The usd/chf is usually the most volatile and moves the most during the trading week.The usd/jpy responds to a lot during news time out of japan,and the gbp/usd is more stable in its move than the other three pairs.so choose the currency pairs that appeals to you and fall in love with it.

Trait three(3).Understand the daily forex news and analysis. it is very important to get a birds eye view of the currency pair that you want to trade and the news that affect the currency. it is also important that you get to know the key technical support and resistance levels of the pair you are about to trade .support is a predicted level to buy,while resistance is predicted level to sell ie where the currency pair should move down the chart.
fortunately all the the best forex news and anlysis are offered up for free on the internet.visit these site before you start trading each day www.forexfactory.com www.actionforex.com www.fxstreet.com www. currencypro.com

Trait four(4).Learn how to use technical indicators and always use stop loss.it is wise to be patient and learn how to use the technical indicators on your chart.it is also very important when you are trading forex that you be very disciplined and stick to your trading style or strategy.don't just trade your gut feelings,trust those technical indicators and don't open any trade without using stop loss.
Happy trading.

MOVING AVERAGE CROSSOVER STARATEGY!

2008-06-23T20:08:00.001-07:00

Trading systems based on fast moving averages are quite easy to follow. Let's take a look at this easy system.
Currency pairs: ANY ONE YOUR CHOICE
chart time:1 hour or 15 minute chart.
Moving averages: 10 EMA, 25 EMA, 50 EMA.
Entry rules: When 10 EMA goes through 25 EMA and continues heading for the 50 EMA, BUY/SELL in the direction of 10 EMA once it clearly makes it through 50 EMA. (Just wait for the current price candle to close on the opposite side of 50 EMA. This waiting helps to avoid false signals).
Exit rule: exit when 10 EMA crosses 25 EMA again.
or exit when 10 EMA returns and touches 50 EMA (again it is wise to wait until the current price candle after so called “touch” has been closed on the opposite side 50 EMA)

Advantages of this strategy:
1.it is easy to use
2.it gives very good result expecialy in a nice trending market.
3.you can expect a big price move except for the intervention of news.
Disadvantages of this system
1.The ema as an indicator is a slow indicator or a lagging indicator.
2.Does not do well in sideways trending market that is it should not be used in a non trending market because it will often give many false signals in that kind of market.

FOREX SCALPING STRATEGY !!!

2008-06-13T07:52:00.000-07:00

Here is another strategy that can be used to trade the forex market for profits,it called scalping.Below is the strategy.

you should modify the macd indicator and input the parameters (10,24,7)on the 15 minutes chart.
you should also insert the exponential moving average (EMA 4) and the linear weighted moving average (LMA 10)on the 15 minutes chart.
But i must say you should be very disciplined using this strategy,as it is not meant for greedy,gluttonous and non disciplined traders,if you know your emotions cannot with stand the volatility of the forex market don't trade this strategy.

HOW TO INTERPRET THE INDICATORS:
Exponential moving average (EMA 4) and linear weighted moving average (LMA 10) is used to identify the trend,and the macd indicator as a confirming indicator.

BASIC SYSTEM RULES:
When EMA 4 crosses or punches through the LMA 10 going up,and confirmed with the macd indicator that is the histogram starts appearing above the zero line you have a buy signal.
When the EMA 4 punches through the LMA 10 going down,likewise confirmed by the macd histogram being below the zero line you should sell.

Get the trend as early as you can and follow the trend to maximize your profit.using this system on the 15 minutes chart is 15-25 pips is a realistic initial profit target expecaily if you are trading the gbp/usd usd/jpy,eur/usd pairs.

HIDDEN SECRET:An additional advantage for traders technical is when there are no major news affecting the market,there will always be a clear trend for the day trading.know when the news is coming out and close any of your trades 10-15 minutes before news is released.
happy trading!!!

PIVOT TRADING STRATEGY!!!

2008-06-12T06:44:00.000-07:00

These are a forex trading strategy that you can try out on demo for at least two months before going on a live account.
First look at prices in relation to any of the pivot points- R1, R2, PP, S1, S2, ie what is price doing at the nearest pivot point,is it punching through a pivot point or is it retracing, then the secondary inputs of the indicators macd and the 9 and 18exponential moving averages on the one hour chart and entry with the 5 minute chart.

The trade:
plot the two moving averages on the one hour chart and give it different colours to identify the trend for the currency, then plot the macd indicator on the one hour chart too,if the macd line punches through it trigger line and it is above the zero line ie -0.000 look to the 5 minutes chart and check to see if only the signal line has crossed below the zero line -0.000 (not both lines of the macd line)then look to enter as close to the pivot point that was penetrated as possible and target the next pivot point for your profit.

SUMMARY:
Wait for a break of a pivot point and a retracement to the pivot point,look at the one hour macd chart to see if the macd and signal line is crossed in the direction of the trade you are considering to take.Also look at the 5 minutes chart to see if the signal line has crossed over the zero line in the direction of your trade if this is achieved enter as close to the pivot point as possible and target the next pivot point in your calculated pivot points to take profits.
Note: be conservative in the use of this strategy and look for 25-40 pips as profit daily.

In addition to using this strategy you can take your signal from where the last candle stick closes in relation to any of the pivot point on the one hour chart ie sell if the candle closes below any of the pivot point and buy when the candle closes above any of the pivot point.

This strategy is relatively simple to use but please remember to keep it simple always no trading strategy is expected to complex.
have fun in your trading!!!
source: How to trade the forex like a pro in one hour

HOW TO TRADE WITH TECHNICAL INDICATORS

2008-06-11T05:54:00.002-07:00

1. PIVOT POINTS:
These are basically points of reference and they are used by all professional traders in the market.They are used to identify important levels of support and resistance.simply put it is a point at which the price is expected to basically change its direction.The pivot point originated from the floor in chigago in the usa and is made available to off floor traders like you and me to use in trading.The pivot point consist of the R2,R!,PP,S1,S2
Method of use:
Never buy above the pivot point and never sell below the pivot point(as in general guide line or rule)but buy when support or resistance is breached upward and sell when support or resistance is breached going down.
Note:This indicator should not be used in isolation.

2.MOMENTUM:
This is an indicator /oscillator that measures the rate of change in the price of the currency.It calculates the difference between todays closing price with that of ten days ago and plots the results around a zero line.
Method of use:
When the indicator reaches the bottom of a downward curve and begins to grow it is a signal to buy.
When the indicator touches the top of an upward curve and begins to point down it is signal to sell.
3.MOVING AVERAGES:
Moving averages are basically used to define the trend of a currency whether it is an uptrend or a downtrend.There are four types of moving averages 1.simple MA,2.exponential MA,3.smoothed MA,4.weighted MA.They all differ only in terms of the weight coeficiency that was calculated to the latest data.
Method of use:
when the price is (candle stick )fall below the MA,it is a signal to sell.
when the price (candle stick)rises above the MA, it is a signal to buy.

4.MOVING AVERAGE CONVERGENCE AND DIVERGENCE(MACD):
This is an indicator that follow the trend of the market.It is made up of 12 period exponential MA,and 26 period exponential MA and a bar chart.
Method of use:
When macd crosses the signal line,down it is a signal to sell.
when macd crosses the signal line upward it is a signal to buy.
NOTE:it is advisable to wait for a confirmed crossover before taking action.

5.RELATIVE STRENGTH INDEX(RSI):
It is a price following oscillator that ranges between 00 and 100.It is used to know when the market is overbought ie reading from 70-100 and when it is oversold ie readings below 30-00.
Method of use:
Reading of 30-00 is a signal to buy.
Readings of 70-100 is a signal to sell.

The idea here is to develop a trading strategy and style that of course you must stick to and be disciplined about it to really succeed in forex trading which i must tell you can be highly lucrative.

2008-06-10T07:03:00.001-07:00

FOREX MARKET AND LOCATION:

The market is a seamless 24 hours market and it runs 5 days a week. The market opens 5pm on Sunday(new york time,trading starts in Sydney and Singapore and finally goes round the globe to get to new york at 8 am.

note:the forex market has no central location it just virtually follow the sun round the globe.

How do i start trading the market online:
Before you will begin to trade the forex market or participate in it you will need the services of a broker or a market maker to be able to trade.bellow are names of trusted market maker or brokers that are reliable.

www.northfinance.com
www.marketiva.com
www.fxcm.com
www.interbankfx.com

How to trade :

There are basically to ways to trade the market or better still to analyze the market and then be able to participate for profits or pips.

Fundamental analysis
fundamental analysis focuses on the macro economic indicators such as interest rates economic growth,inflation,import and export, employment etc as it affects the countries currency that you are going to be trading with.ie These factors or indicators drive demand and supply for the countries currency one thing to note is to be aware of when these indicators will be released.

Technical analysis:
This type of analysis uses historical price movement that is charts to forecast or tell the possible move and direction that the currency pair is going to take.This analysis basically uses different chart patterns to identify trends in their earliest stage so as to take profit .
visit www.chartpatterns.com to study the different chart patterns on display there.

INTRODUCTION TO THE WORLD OF FOREX TRADING

2008-06-09T09:38:00.000-07:00

What is forex trading?

Forex or foreign exchange is nothing but the buying and selling of currencies online almost simultaneously.The market is so large in volume that it will take a whole one month for the new york stock exchange to match up with the volume that is traded in a day in the forex market.

In the forex market currencies are always traded in pairs and not in isolation, that is buying of one currency and the simultaneous selling of the other. The objective of currency trading is to buy the currency that appreciates or increase in value compared to the other that is sold.ie if you have bought lets say British pounds and the value of that currency increases then you must sell it back in other to lock in the profit for that day.

Is currency trading difficult or easy?

I remember the first time i learnt about forex trading and i got all excited about the possibilities of making cool money all from the comfort of my home, i quickly funded my account and started trading live,funny enough i was making profit for the few weeks that i was trading as i was abiding by the rules or the strategy that i was taught by my trainer. After some few weeks of making some substantial progress my profit got swallowed by the market.i was annoyed,only to later discovered that i have totally diverted from the strategy i have learnt. and had gone on to something else and hitherto causing my losses.To answer the question above correctly with my experience is that forex is not difficult but it requires discipline and that i can say over and over again without getting tired,discipling is the key to success in forex trading as in everything that you are going to learn or study you just have to be disciplined about your trading style or strategy.