Money management goes closely together with portfolio management. I'm using at this point Market System Analyzer 3.0 Essential tool if you are running multiple strategies or trade multiple account. You can import your own trades results and create some fancy looking charts with your equity. You can choose between several money management formulas and see impact on yours results. Next nice feature is applying moving average on equity curve - start trading only when is your 'lucky' time. Anyway, this software tool is really full of high value features (monte carlo, equity curve, positions sizing........) and still easy to use - five stars for me.

Click to see full image of Market System Analyzer 3.0 in action.

If you are lazy or busy or simply don't have time to try, you can have a look at their video presentation.

Full version costs $199 . 30 days fully functional trial version is available. Download link here

Very nice and useful piece of software. If you are trading or just start trading, it's another 'must-have' for you. Five stars score for me.

Gecko software offers 30 days free of charge trial version.

I'm using Track 'n Trade 5.0 for analyzing my options and forex trades.

The functionality of "market data" player it's amazing.

NATIONAL FUTURES ASSOCIATION
FOREX INVESTOR ALERT
FEBRUARY 2007

In August 2003 NFA issued an Investor Alert discussing the risks of trading in the retail off-exchange foreign currency (forex) market. Since that time, participation in forex trading by retail investors has increased dramatically. There are current 37 active Forex Dealer Members registered with NFA. These 37 firms hold over $800 million in customer funds.

Unfortunately, the amount of forex fraud has also increased dramatically. Since 2001, the Commodity Futures Trading Commission (CFTC) has filed 93 enforcement actions in federal court against hundreds of firms, owners and employees for defrauding over 25,000 customers who lost over $395 million in forex schemes. In addition, NFA has taken enforcement actions against a number of its Forex Dealer Members.

It is critical, therefore, that individuals who are considering participating in the forex market understand the risks associated with this product and conduct due diligence before making any investment decisions.

• Although forex dealers must be regulated, firms and individuals can solicit retail accounts for forex dealers and manage those accounts without being subject to any regulatory requirements. There are currently more than 2,000 such firms and individuals. If you are contacted by one of them, either through a telephone call, an e-mail message or a Web site, find out if they are regulated. If they are not, you may be exposed to additional risks.
• Be aware of investment schemes that promise significant returns with little risk. Be very cautious and closely monitor any investment you do make.
• Because the forex market is volatile, fluctuations in the foreign exchange rate between the time you place the trade and the time you attempt to liquidate it will affect the price of your forex contract and the potential profit and losses relating to it.
• Only a relatively small amount of money can enable you to hold a forex position for much more than the account value. This is referred to as leverage or gearing. If the price moves in an unfavorable direction, high leverage can produce large losses in relation to your initial deposit. In fact, even a small move against your position may result in a large loss, including the loss of your entire initial deposit and the liability for additional losses.
• Forex transactions are not traded on an exchange. Therefore, under the U.S. Bankruptcy Code, your funds may not receive the same protections as funds used to margin or guarantee exchange-traded futures and options contracts, which receive a priority in bankruptcy.

For additional information on retail forex trading, you should consult NFA's brochure, "Trading in the Retail Off-Exchange Foreign Currency Market: What Investors Need to Know." NFA has also developed a Forex Online Learning Program, an interactive self-directed program explaining how retail forex contracts are traded, the risks inherent in forex trading and steps individuals should take before opening a forex account. Both the brochure and the online learning program are available at no charge to the public in the Investor Learning Center section of NFA's Web site (www.nfa.futures.org).

As mentioned above, retail off-exchange forex trading carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose all of your initial investment and be liable for additional losses. Therefore, you should not invest money that you cannot afford to lose. Be aware of all the risks associated with forex trading and make an informed decision after consulting with your financial advisor and considering your own financial situation and objectives.

 

NFA is a self-regulatory organization subject to oversight by the CFTC. NFA's primary mission is to protect investors and maintain market integrity.

 

More information at http://www.nfa.futures.org/compliance/forex.asp or http://www.nfa.futures.org/compliance/forexInvestorAlert_020107.asp

....one of quick posts :-)
You can download it here.
Enjoy the trading! Tomorrow .. FED well, we will see.

If the risk is acceptable for you, do the trade.
Or do you believe in crystal ball ?

Because I'm big fan of woodie... I must post woodies cci indicator for Metatrader platform.

You can download it here .

Also you can try woodie based scalping system for Metatrader. You can download it here .

Enjoy the trading !

What is scalping ? Scalping is trading method. The trader (scalper) touch the market for few minutes or less and takes relatively very small profit.

Scalping system requirements ( proof of concept - public version ) :

• Entry the market when the prize is moving ( high volume ). Other traders are trading. Wake up !
• Recognize the trend.
• Look at the price few minutes ago.
  • Compute trend line. Bull / Bear / Stay away
  • Moving average. Bull / Bear / Stay away
  • MACD. Bull / Bear / Stay away
  • Woodies CCI , chop zone . Bull / Bear / Stay away
  • and RSI
  • ... and William R%
  • ........and so on
  • .... in other words, use technical analysis to define the trend
• Use fuzzy logic to figure out the result. ( if rule1 is strong bull and rule2 is medium bull and rule3 is strong bull and ....rule N is then go short)
• Compute position risk. Dynamic or fixed profit target. (Fuzzy logic too).
• Compute stop loss zone according to risk.

I really like these systems ! Are you scalping too ?

You can usually trade all day from Monday till Friday depend on your broker. But the prices are moving when other traders are trading (not sleeping).

 

 Forex market hours

New York opens 8:00 am to 5:00 pm EST

Tokyo opens 7:00 pm to 4:00 am EST

Sydney opens 5:00 pm to 2:00 am EST

London opens 3:00 am to 12:00 noon EST

 

Forex market hours best performance

There are hours when market sessions are overlapped:

 

New York and London — 8:00 am — 12:00 noon EST

EUR/USD , GBP/USD

 

Sydney and Tokyo — 7:00 pm — 2:00 am EST

AUD/JPY

 

London and Tokyo — 3:00 am — 4:00am EST

GBP/JPY

 

At those overlapping trading hours you'll find the highest volume of trades (bigger rate of change) and therefore more chances to win in the foreign currency exchange market. It's very interesting to change automated strategy for trading only at overlapping sessions. 

 

Enjoy the trading !

.................

............. flip the coin...... head, tail, head, tail , head .....

The best combination was 19 and 24. That combination made $15,000.
The combination of 17 and 24 made only $3,000.
The combination 16 and 24 lost $3,000.
The combination 19 and 25 made $5,000, while 26 and higher lost money.

31 combinations made money, while 465 lost money.

Popular indicator from Alexander Elder.

Download link.(ELDERRAY.ELD)

... or read more theory... here and here

Elder Ray Buy signals

• Moving average rises and Bullish Force indicator is below zero. The best time to buy is when the Bearish Force first falls below zero and then immediately rises.
• If new price highs are confirmed by new Bullish Force indicator highs, then it is a good confirmation of the bullish trend.
• Bearish convergence is another strong signal.

Elder Ray Sell signals

• Moving average moves downward and Bullish Force is above zero.
• Bearish trend is confirmed if the price lows and Bearish Force indicator lows move downward in parallel.
• Bullish divergence is another strong signal.

 

Enjoy the trading !

"Every note, ever written - at any time, in any place"

World of currency market trading,development, hobbies,family,friends,events - lot of information. Agree ? I'm still thinking about using and storing information effectively. Two weeks ago I have found great piece of software - EverNote.

At the first look I have been confused about complexity, but after spending two hours playing with them...

I was really surprised. It's easy. It's works. And the web clips feature... (clap)

Web clips allows saving whole web page from your favorite browser into EverNote and then edit them in same environment as MS Word.

I would like recommend EverNote freeware to anyone.

http://www.evernote.com/en/products/evernote/

You can download it here (WOODIECCI.ELD).

1. After download double-click file, file is imported into Tradestation.
2. Open chart
3. Add analysis -> Select Woodies CCI

Enjoy the trading !

You can download fully working vttrs file here

screenshot of woodies cci together with vt trader in action:

...sometime called WCCI
You can change CCI period, Turbo CCI, moving averages. There are two mathematical formulas to choose for calculating values: original one and improved one ( I prefer ).



You can download it here for your VT Trader

More about trading like a Woodie at woodies club.
Enjoy the trading !

[Part I - Trading strategy fx]
Which timeframe to choose ?

• Depend on your account sizen
• Depend how much time you can spend with trading

Select the right currency pair

• Look at the relative percent change
  
• Look at the spread

Use automated trading system if you can.

• Save the time
• Computer performance is similar with amateur trader.
• Safety setup your portfolio.
  

Trading strategy fx should be platform independent.

A computer network model of human transactive memory

Each person doesn't need to remember everything the group needs to know, after all, if each person merely stores in memory information about who is likely to have a particular item in the future. This capacity for remembering who knows what is the key to transactive memory.

Transactive memory suggests an analysis not only of how couples and families in close relationships coordinate memory and tasks in the home, but how larger groups and organizations come to develop "group minds," memory systems that are more complex and potentially more effective than those of any of the individuals that comprise them.

I'm personally using TiddlyWiki with Firefox and TiddlySnip plugin.

But how to do in effective way "company related transactive memory" ?

More information:
Wikipedia
Search engine results

[update]
Maybe tools like this one http://socialplatform.com/solutions/communicate/
in desktop version (we need fast response) could be the solution

Today, I have rewrote my original ADX trading system. Entry signal stay same, but exit signals are now using DMI+ / DMI- crosses.

Source code: VTRS
{Control Error}

Err:= (Pr=0);

TH:=if(Ref(C,-1) > H,Ref(C,-1),H);
TL:=if(Ref(C,-1) <>
{ADX Indicator Calculation}
TR:=TH-TL;

PlusDM:=if(H>Ref(H,-1) AND L>=Ref(L,-1), H-Ref(H,-1),if(H >Ref(H,-1) AND L Ref(L,-1)-L, H-Ref(H,-1),0));
PlusDI:=100*Wilders(PlusDM,Pr)/Wilders(Tr,Pr);

MinusDM:=if(LRef(H,-1) AND L
MinusDI:=100*Wilders(MinusDM,Pr)/Wilders(Tr,Pr);

DIDif:=Abs(PlusDI-MinusDI);
DISum:=PlusDI+MinusDI;

ADXFinal:=100*Wilders(DIDif/DISum,Pr);
ADXRCustom:= (ADXFinal+Ref(ADXFinal,1-Pr))/2;

_ADX := if( cT=0,ADXFinal,ADXRCustom);

{Signal Long and Short}

Long:=not Err and Cross(PlusDI, MinusDI);
Short:=not Err and Cross(MinusDI, PlusDI);

UpTrend:=PlusDI>MinusDI;
DownTrend:=MinusDI>PlusDI;

{OpenBuy and CloseBuy}

OpenBuy:=not Err and Long and (eventCount('OpenBuy')= eventCount('CloseBuy'));
CloseBuy:=not Err and Short and (eventCount('OpenBuy')>eventCount('CloseBuy'));

{OpenSell and CloseSell}

OpenSell:=not Err and Short and (eventCount('OpenSell')= eventCount('CloseSell'));
CloseSell:=not Err and Long and (eventCount('OpenSell')>eventCount('CloseSell'));

1. Woodie CCI
2. Moving Average
3. CCI
4. SSTO & FSSTO
5. MOM
6. ADX

I usually use them in this order.

VT Trader
Metatrader
Oanda
Saxobank
Track'n'Trade
Sierra charts