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MACD and Commodity Channel Index

Forex Superb — Thu, 18 Aug 2011 14:10:27 +0000

It is imperative for investors to have at the information on when price is going to reverse or retrace so they can exit from positions that they have been holding, so they can avoid having to go back into the minus territory.

Find below a summary of indicators that I term “market’s best”. I used them possibly every time in identifying reversal or at least retracement. Just like we know that no indicator out there can guarantee anyone 100% success, but you’ll find them pretty accurate.

MACD – I employ the use of MACD’s histogram in identifying reversals in the market. When in a bullish market and you notice the MACD’s histogram shortening, this is a vivid alert warning that the bulls are losing it and a reversal is near.

On the other hand if you find yourself in a downward market and you notice that the MACD histogram on your price chart is shortening, this is technical tip on the market losing bears strength and seeing a shift to the bullish side.

Commodity Channel Index – The Commodity Channel Index or CCI is an oscillator as we all know and it is used in determining when an investment vehicle is overbought or oversold. I stick to the 200 mark as a sign of reversal. What this means is that when price crossed above the 200 level, I’ll hold back a bit for it to touch down at the 100 level before I enter a reversal position. Alternatively, if it hold below the -200 mark, I’ll watch it closely to move back up to -100 for a confident reversal.

Spinning Top – Spinning tops are candlestick patterns in general which is composed of a short body alongside a long wick at the bottom and top. What this suggest is that of indecision in the market amongst bears and bulls.

In the course of trading, if you notice indicators displaying the same reversal alerts alongside the formation of reversal candlestick patterns, this would hugely increase your chance of seeing a price reversal.

Free Forex eBook Library

Forex Superb — Tue, 24 May 2011 18:03:38 +0000

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Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game

Forex Superb — Mon, 19 Oct 2009 07:35:55 +0000

If you would ask me what books in particular fascinated me the most, which helped me to understand psychology of trading, technical analysis, fundamental analysis, my answer would be: NONE (from all the books I’ve read about it). This is proved by a fact that more important books count over 500 pages, and in all books there is too much theory and philosophy. Another positive fact is that after reading every book, I learn something new and useful, even a small fragment that would help me in stock trade later on.
Apart from other books like Millionaire Traders (How Everyday People Are Beating Wall Street at Its Own Game) is written in simple and interesting way. Boris Schlossberg and Lien Kathy have interviewed twelve people who started with drastic capital (less than 1000$) and made it six or seven digit number over time.

While reading the book, I realized that all these successful people really have much in common. All these traders had major ups and downs, and in much year experience the effort paid off for them – they never quit on faith in themselves and every one of them has unique perspective on the market. Above all that, while answering the questions in the interview, they discover many things related to trading itself, and if you’re careful reader, you’ll figure out what is it about, and it will help you in your work on fx or stock market, and so, you’ll be sure that you’re on a right path.

I don’t know any trader that doesn’t dream about achieving great results with minimum investment. Million people right now are trying to achieve the same thing that these men did. And because of that, I suggest you to read this book that’s both inspiring and informative at a same time.