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MACD Divergence Trading System

Many of you reading this already know what a MACD (Moving Average Convergence Divergence) indicator looks like and are also familiar with Divergence. What I’m going to share with you is a MACD Divergence Trading System. This is a whole new way to analyze MACD for divergences. Ok so lets go through the steps on setting it up.

Name : MACD Divergence Trading System
Time Frame : 15 mins or above
Indicators : MACD_Colored_v104 (default settings)
Strategy By : Navin Prithyani (urbanforex.com)

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10 Pips a Day

There is a lot of questions we’ve been getting in regards to scalping and taking 10 pips a day from the forex market. Can it really work? If yes, what does it really mean? What are the available strategies that can be used for it? And if no, why? Lets me go through all the available options.

Understanding the Concept of 10 Pips a Day

If you earn a very small 10 pips per day at the lets say 5 mini lots a day, you’ll be earning a good $50 per day. This is the calculation done by many forex traders. The mindset behind all this is that “The Forex market moves several hundred pips a day and I can at least easily pull out 10 pips out of each trade.” Little do we know what we’re in for. Lets view the pros and cons. Read more

How to Calculate Pivot Points?

Many of you have somewhat of an idea on what Pivot Points are and furthermore how they are calculated. For those of you who do not know or forgot, lets do a quick refresh.

What are Pivot Points?

To explain it simply, its just yesterday’s average. The market moves everyday to a certain extent. What a point point does is calculates support and resistance levels based on yesterday’s move. Ok so lets get a understanding on how pivot points are calculated. Read more

Drawing Short Lines in MT4

How to draw short lines / short trend lines

Drawing short lines in MT4 (metatrader 4) is very simple. Right click on the extended line you’ve drawn and bring up the Trendline Properties Box.  Click on Parameters.  See the little box at the bottom that says “Ray”?  Get rid of Ray by clicking
 off the check mark.  Voila! No check mark – no extended line.

Now you can draw shorter lines that fit what you want to do.  I’m almost embarrassed to post this – but after a year of working with MT4, I just learned how to do this.  I figure I’m not alone here.

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MACD Divergence

There are various indicators you can use to spot divergence. One of the most popular ones is the MACD (Moving Average Convergence Divergence) indicator.

Using MACD to spot Divergence in Forex

First you want to start off by attaching the indicator to your chart. On your Metatrader, look for the MACD indicator in the “Insert > Indicators > Oscillators > MACD” Read more

Forex Valuta

A Swedish brokerage firm recently gains massive publicity. With its many popular domain names Sweden (forex.se), Finland (forex.fi), Norway (forex.no), Denmark (forexbank.dk) its inching its way to the top in the European market for forex brokerage firms. We’ve seen similar rise to Gain Capital’s Forex.com which is now among the largest brokerage firms around and is listed on the NYSE (New York Stock Exchange).

This swedish brokerage firm keeps using this word called Valuta. Apparently its not a brand or name of the firm. Its actually a term from the dictionary. Read more