PZ Wolf Waves Indicator - forex trading business in pakistan

PZ Wolf Waves Indicator ~ forex trading business in pakistan

PZ Wolf Waves Indicator

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Definition of Wolfe Wave

It is a naturally occurring trading pattern present in all financial markets. The pattern is composed of five waves showing supply and demand and a fight towards an equilibrium price. These patterns can develop over short- and long-term time frames such as minutes or weeks and are used to predict where a price is heading and when it will get there.

Anatomy of a Wolfe Wave

If identified correctly, Wolfe waves can be used to accurately predict the scope (equilibrium price) of the underlying security and to anticipate price reversals which are likely to cause big price movements.
To identify Wolfe waves, they must have the following characteristics.

o    Waves 3-4 must stay within the channel created by 1-2

o    Wave 1-2 equals waves 3-4

o    Wave 4 is within the channel created by waves 1-2

o    There is regular time between all waves

o    Wave 5 exceeds trendline created by waves 1 and 3 

How to trade using Wolfe Waves

Wolfe Waves are amazingly easy to trade! The trade must be taken when the price closes above the trendline created by waves 1 and 3, and the last point of the wave should be used as a protective stop-loss.

The PZ Wolfe Waves indicator implements a trading filter which delays the signal until a price-based breakout takes place in the direction of the wave, making trades 99% deterministic and increasing the profit factor.

Because the indicator uses tops and bottoms to draw wolfe waves, the last leg of the wave must always repaint. However, the trading signal is based on the breakout of the trendline created by waves 1 and 3 and therefore trading decisions are deterministic and almost never repaint.

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Forex reserves swell 3 2 bilion - forex trading income tax singapore

Forex reserves swell 3 2 bilion ~ forex trading income tax singapore

Another interesting article about forex reserves.

"Foreign exchange reserves rose by $3.16 billion in the week ending January 18, 2008 taking the total reserves to a record $284.98 billion. Money market dealers said that the rise in the forex reserves was largely on account of subscription to the IPO of Reliance Energy that closed on January 18.

The public offering is expected to have drawn in large scale funds from foreign institutional investors. During the same week, the BSE’s benchmark index, Sensex, had dipped about 1,000 points to close at 19,700 with most FII selling shares.

The foreign currency assets stood at $276.13 billion while the reserves with IMF was down by $1 million to $433 million, according to the data released by the Reserve Bank of India in its Weekly Statistical report. In the two weeks ended January 18, forex reserves rose by $8.3 billion. For the second consecutive week, the government’s deposits with the Reserve Bank rose."

Read more here Forex reserves swell $3.2 bn on IPO inflows
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Signal today 2 Sept (updated) - forex trading tax deductions

Signal today 2 Sept (updated) ~ forex trading tax deductions

GBPJPY Buystop 150.34, SL 149.33, TP1 150.84   GBPUSD Buystop 1.6173, SL 1.6111, TP 1.6214

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Signal today 16 September (updated) - forex trading income tax canada

Signal today 16 September (updated) ~ forex trading income tax canada

GBPJPY

Buy 150.29, SL 149.40, TP1 150.79, TP2 151.60    .

GBPUSD

Buy 1.6497, SL 1.6446, TP 1.6547
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Signal today 8 Sept (updated) - forex trading tax in cyprus

Signal today 8 Sept (updated) ~ forex trading tax in cyprus

GBPUSD

Sell 1.6333 SL 1.6365 TP 1.6283
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Renko Trading Strategies 2 - open forex trading account pakistan

Renko Trading Strategies 2 ~ open forex trading account pakistan

The 200 Trendline Break is another of those Renko Trading Strategies that is relatively simple to execute and appears on the charts of almost every instrument, be it forex, stocks or futures.

This trade involves using only the CCI indicator and and a trend line.

What is important is that the CCI has reached approximately 200 level from where we can draw the trend line to intersect the CCI.

Notice this example:

You can see that the line was drawn from the top of the CCI, which is close to the 200 line, and intersects where there is a bump on the CCI moving up.. When you look up at the price bars you will see that the bar is a valid entry point and that there is a relatively good move upwards.

This one will take some practice to recognize and master, however the time is well worth it as this  pattern gives some excellent profits.

The 200 Trendline Break is a very simple and accurate scalping strategy

By the way, this chart is made of 20 pip Renko Bars which is my own preference.  So,me people prefer smaller bars and some people prefer much larger bars.

Of course this trade can be made with short trades as well as long trades, I have only illustrated a long entry on this chart.

Again, this is a simple concept requiring only one indicator.

Please look elsewhere on this blog to see other Renko Trading Strategies.


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Signal 29 Sept (updated) - forex trading capital gains tax australia

Signal 29 Sept (updated) ~ forex trading capital gains tax australia

GBPJPY Buy 143.52, SL 142.26, TP1 144.02, TP2 144.81. GBPUSD Buy 1.5934, SL 1.5872, TP 1.5984

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Signal today 2 Oct (updated) - forex trading tax free australia

Signal today 2 Oct (updated) ~ forex trading tax free australia

GBPJPY
Sell 142.03, SL 143.28, TP1 141.53, TP2 140.27.

GBPUSD
Sell 1.5886, SL 1.5934, TP 1.5836
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Day Trading Forex Currency - forex trading tax implications uk

Day Trading Forex Currency ~ forex trading tax implications uk

Right, day trading today. People are very interested in the concept of day trading. And i think there are at least few reasons for this. Before i will go into details, lets define day trading, what it really is.

On Forex day traders are guys who make a lot of trades (like over 10) in a single. Each of the trade is closed by the end of trader trading session, on Forex it usually means turning your computer off. Note that this is not the same as scalping. The only similarity between scalping and day trading is that, a lot of traders fail there.

Main resaon for this is that traders are tempted with huge profits, when doing day trading people are almost always using huge lavereages, like 100:1, it means buying 10 Lots with 10 000$. I think you can easily see how much one PIP is worth then, yeah it is 100$. It seems great at first, looks like a quick cash, but consider the fact that you only need 100 PIP move in the wrong direction to meet mr. Margin Call.

In reality when you trade on such high leverage it looks like everything is happening with a speed of light, while in fact it all happens with a normal speed, it is this ridiculous leverage that makes things harder.

Next thing you need to consider when you want to do day trading on forex currencies, is that not every broker will be happy with what you are doing, they may close your account or limi your leverage if ... you will start making money. So chose your broker wiseley checkout Forex forums and read brokers reviews make sure they allow day trading.

You may now think, wow day trading is hard. Well in fact it really is harder then you think. I am not saying it cannot be done, i am not saying you cannot earn like 200% a month. I am just saying that success with day trading want happen overnight, if you focus on it and commit to becoming day trading the success will come with time and experience.
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Stop using HedgeHog! - forex trading tax singapore

Stop using HedgeHog! ~ forex trading tax singapore

I have a quite sad news for you, i backtested both hedgehog strategies with MetaTrader which i described earlier and results are not as good as i thought.

More over using HedgeHog you cannot even breakeven it is a fast way to loose all your money. It is interesting because when i backtested it with spreadsheet results where quite good, and i used the worst case scenerio because i was backtesting this strategy on daily bars, so modeling quality was quite low.

Although HedgeHog seemed to be simple and effective strategy, without a big drawdown, so everything should be ok but ... well it isnt.

If you want to try to trade this strategy anyway, then you better try it on demo first and do not use big lots.
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Undergoing MyBlogLog Verification - forex trading australian tax

Undergoing MyBlogLog Verification ~ forex trading australian tax

Undergoing MyBlogLog Verification
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Ichimoku Renko Trading Strategy 2 - forex trading academy london

Ichimoku Renko Trading Strategy 2 ~ forex trading academy london

Ichimoku Renko Trading Strategy charts as they happened today

Here are some charts from today showing some nice entries and relatively easy pips. You can see the entries are best when there is a trend and that they are tricky when the market is ranging.

For more information as to how to set up these charts, have a look at this page

For more information on Ichimoku see this page.

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