Archive

Almost a month ago I’ve discussed a technique called “partial profit taking” and its viability in Forex. Another name for this technique is “scaling out” as it allows a trader to scale the exit from his or her position. Today, I’d like to talk about “scaling in” — a technique that’s …

“Cut your losses short and let your profits run.”
— Proverb

Introduction

When a Forex traders decides to open a position, usually he has some profit target in mind. Often such target is set as a take-profit order for the position. Sometimes, traders set multiple profit targets for one position and close …

Pinbar isn’t a new concept in Forex trading. It has a close resemblance to some other candlestick patterns — Hammer and Morning/Evening Star. However, Pinbar has its own nuances, and today I am happy to present the basic Pinbar trading system suggest to me by one of the forum members. It’s a very simple trading …

I’ve launched a beta version of a new online Forex report analysis tool that can show a lot of different metrics based on MT4/MT5/Oanda account reports (and MT4/MT5 Strategy Tester reports):

http://www.earnforex.com/analyzer/analyzer.php

This tool is completely free and will always remain such. As I have already said, it’s still in beta-testing …

One of the site’s visitors asked me about my testing results of the weekly Forex gap strategy and which pairs are best suited for such trading. As a reply I’ve sent two MetaTrader “expert advisors” that I had used for testing. Now I’ve decided to share these scripts with everyone else, because …

It’s hard to overestimate the importance of proper strategy testing in Forex trading. Just taking a strategy out of your head and applying it to a real money account usually leads to a total wipe. Unlike optimization, which is optional and sometimes dangerous, testing is crucial. But what period of time should be …

Another free e-book was added to EarnForex.com today — Killer Patterns by Philip Birchley. It’s very short — just 22 pages, including title, disclaimer and other “service pages”. The e-book talks about the strategy based on the MACD indicator and the chart trend lines. It’s very simple and easy to implement. Unfortunately, …

It turns out that the price gaps that usually occur on weekends and result in a price difference between the Friday’s close and the Monday’s open not only frustrate traders with positions closing worse than stop-loss, but they also are a good source of trading opportunities. If you know how …

A new addition arrived to the Forex strategy repository on EarnForex.com today. It’s a rather mundane strategy based on the support and resistance levels, but it’s given in a systematized form with a structured description. This Support and Resistance Strategy will be easily understood even by the beginners that aren’t acquainted with the concept …

The new Forex trading strategy that was added to my site today is the Combined Stochastic Oscillator/MA strategy, which is based on of the Forex videos that I’ve seen recently. The basic principle of this this strategy is rather simple. You have a long-term trend confirmed with …