Money is my Trade

Forex Trading Blog

Gartley pattern – A detailed guide on how to trade this Harmonic Trade pattern
The famous Gartley pattern has a proven trackrecord. Some traders might question how come, a pattern introduced in 1935, is still applicable today. The answer lays in the fundamentals of trading psychology and the power of Fibonacci retracements. It is about time we show you how you set up... Read more
Stochastic Oscillator
The stochastic oscillator is a momentum indicator that compares the closing price relative to the high-low range over a given period of time. It tracks the speed, often referred to as the momentum, of the price action. It is a general rule that momentum changes direction before price does.... Read more
Main order execution mechanisms
Below we discuss the main order execution mechanisms commonly used in forex trading.   Trailing Stop Loss Like the regular stop-loss order, this type of order can be used as a safety net to limit potential losses. A trailing stop is similar to the regular stop loss in that... Read more
Different order types
Brokers offer many different types of orders that allow you to enter, exit and also program your trades. The different types of orders help in supporting all kind of trading styles. The most common order types offered by brokers are: market orders, limit orders and stop loss orders. This... Read more
Elliott Wave Theory Basics
Founding father of the Elliot Wave Theory is Ralph Nelson Elliott who developed this theory in the late 1920’s. What he discovered is that while markets seem to behave in a chaotic manner, they are in fact traded in repetitive cycles. These repetitive cycles are caused by investor’s reactions... Read more
Harmonic Trading – High probability chart pattern
Market Harmonic trading is a trading method that attempts to predict future price movements. It takes geometric price patterns, using Fibonacci numbers, to define turning points. It combines patterns and math into a trading methodology that is based on the premise that patterns repeat themselves. By finding patterns of... Read more
Bollinger Bands (BB): How to trade with them
Foreign exchange markets can move all over the place. Sometimes quickly shifting from a strong bullish and bearish price action. Such market movements become less mysterious once traders start to realize that people move the markets. Therefore, the nature of the market reflects besides estimates based on research also... Read more
MACD Indicator (Moving Average Convergence Divergence) – A powerful tool
Arguably one of the most reliable and most popular momentum indicator used by professional traders is the MACD, which is the abbreviation for Moving Average Convergence Divergence. Its ability to signal loss of momentum when the trend is still high is probably its most preferred feature. The MACD was introduced... Read more
Fibonacci retracement and extension
The use of Fibonacci retracement levels is one of my personal favorite technical tools. In combination with support and resistance levels, the Fibonacci reversal levels can give great probability setups, especially for the trend traders among us. It yet surprises me that a lot of traders hardly use these... Read more
ADX (Average Directional Index) – Trend indicator. How to improve your trading with it?
The Average Directional Index, or short ADX, is developed by Welles Wilder. His trading system is designed to be a trend indicator that can help traders in specifying the market. Especially for stock trading, where there is an overload of different graphs to review, the ADX can help traders... Read more