How can I start trading on the MT4 platform? : Question from Chhneah-Chhneah Samnang

I received an email from Chhneah-Chhneah Samnang who wrote:

Hi Mario, I currently live in Cambodia and funded my account with USD2,000. How can I start trading on the MT4 platform?

Before you start trading, familiarize yourself with the MT4 platform. Since you funded your live account, you have access to FXPRIMUS Coach for 60 days. Login to your Member Area to access your FXPRIMUS Coach.

Inside FXPRIMUS Coach, you can view tutorial videos on using the MT4 platform, as well as Beginner and Trading Strategies. You can also read the “Learn Forex Trading” section on my blog.

After you become familiar with the MT4 platform and learn some strategies, practice on your demo account first and assess your performance. During this period, you can contact our coaches from FXPRIMUS Coach to guide and assist you on your trading.

Refer to this post to read about basic Forex trading skills: “Question from Mayette Azucena: What are the basic skills in Forex trading?” Once you adopt these skills and can consistently profit for at least three months, you can consider trading on your live account.

Get FREE 1-on-1 coaching by Mario's team

with your FXPRIMUS Live Account:

Related posts:

1. Question from Mayette Azucena: What are the basic skills in Forex trading?


2. Question from Yan: When is a good time to start training and practicing Forex trading?


3. How much should I invest if I start trading on a live account? : Question from Chander Pal Mitra

via How can I start trading on the MT4 platform? : Question from Chhneah-Chhneah Samnang

Forex Indicatos and Pattern by Coach Mario Singh

Cup and Handle Pattern

Mario Sant Singh at Ask Mario Singh Blog

What is a Cup and Handle Pattern? The cup with handle formation seems pretty common at first glance, but once we apply certain filtering criteria in order to get an acceptable trade success rate, the actual number of “true” cup with handle patterns drops off considerably. As a result, many of the implied relationships have [ Read More ]

 

Symmetrical Triangle Pattern

Mario Sant Singh at Ask Mario Singh Blog

What is a Symmetrical Triangle Pattern? This pattern shows two converging trendlines (support levels & resistance levels) and is (1) a bearish formation that usually forms during a currency pair downtrend as a continuation pattern (downtrend will continue) or (2) a bullish formation that usually forms during a currency pair uptrend as a continuation pattern [ Read More ] 

 

Awesome Oscillator

Mario Sant Singh at Ask Mario Singh Blog

What is Awesome Oscillator? Awesome Oscillator Technical Indicator (AO) is a 34-period simple moving average, plotted through the middle points of the bars (H+L)/2, which is subtracted from the 5-period simple moving average, built across the central points of the bars (H+L)/2. It shows us quite clearly what’s happening to the market driving force at [ Read More ]

 

Moving Average of Oscillator

Mario Sant Singh at Ask Mario Singh Blog

What is Moving Average of Oscillator? Moving Average of Oscillator is actually the histogram of the traditional MACD. Click the image to enlarge In summary, the combination of the MT4 version of MACD and the Moving Average of Oscillator is the traditional MACD. Get FREE 1-on-1 coaching by Mario's teamwith your FXPRIMUS Live Account: Related posts: 1. Moving Average Convergence/Divergence (MACD) 2. Question from Lourdes: I use Parabolic SAR, the Stochastic Oscillator, Moving Average Convergence/Divergence (MACD), etc. Could you please advise me on what I am lacking? ... more »

 

Ichimoku Kinko Hyo

Mario Sant Singh at Ask Mario Singh Blog

What is Ichimoku Kinko Hyo? Ichimoku Kinko Hyo Technical Indicator is predefined to characterize the market Trend, Support and Resistance Levels, and to generate signals of buying and selling. The Ichimoku indicator is comprised of five lines called the Tenkan-sen, Kijun-sen, Senkou span A, Senkou span B and Chikou span. • Tenkan-sen (red line) is [ Read More ]

 

Force Index

Mario Sant Singh at Ask Mario Singh Blog

What is Force Index? Force Index Technical Indicator was developed by Alexander Elder. This index measures the Bulls Power at each increase, and the Bulls Power at each decrease. It connects the basic elements of market information: price trend, its drops, and volumes of transactions. This index can be used as it is, but it [ Read More ]

 

Envelopes

Mario Sant Singh at Ask Mario Singh Blog

What are Envelopes indicator? Envelopes Technical Indicator is formed with two Moving Averages one of which is shifted upward and another one is shifted downward. The selection of optimum relative number of band margins shifting is determined with the market volatility: the higher the latter is, the stronger the shift is. Envelopes define the upper [ Read More ]

 

DeMarker

Mario Sant Singh at Ask Mario Singh Blog

What is a DeMarker indicator? Demarker Technical Indicator is based on the comparison of the period maximum with the previous period maximum. If the current period (bar) maximum is higher, the respective difference between the two will be registered. If the current maximum is lower or equaling the maximum of the previous period, the naught [ Read More ]

 

Bullish Engulfing Pattern

Mario Sant Singh at Ask Mario Singh Blog

What is a Bullish Engulfing Pattern? Bullish Engulfing Pattern is a pattern characterized by a large white real body engulfing a preceding small black real body, which appears during a downtrend. The white body does not necessarily engulf the shadows of the black body but totally engulfs the body itself. The Bullish Engulfing Pattern is [ Read More ] 

Trade Forex And Get Free Coaching With FXPRIMUS

Robert Kiyosaki, author of Rich Dad Poor Dad, says this:

“Professionals have coaches. Amateurs do not.”


Think about it. Successful people in every field have mentors or coaches.


Sportsmen, Singers, Entrepreneurs, Career Professionals… and yes, Traders.


All of them have coaches to guide them, give them corrective feedback, sharpen their skills, and push them to greater heights.

In fact, in the Trading profession, the big financial institutions all hire trading coaches to consistently train up successful professional traders.

This is why FXPRIMUS has a team of expert coaches in FXPRIMUS Coach, to help guide clients to trading success.

The coaches in FXPRIMUS Coach are not only successful traders themselves, they are also personally trained in the field of coaching by FXPRIMUS Director of Training & Education and CNBC-featured Forex expert Mario Singh.

And here’s the good news. As a client of FXPRIMUS, you will get 60 days free access to FXPRIMUS Coach, where you get to:

1. INTERACT 1-on-1 with the coaches via live chat, and

2. LEARN from more than 40 tutorial videos

To learn more about FXPRIMUS Coach, visit http://www.fxprimus.com/fxprimus-coach?r=91428

Forex Breaking News: UK Maintains Status Quo

The Bank of England (BoE) maintained their interest rate at 0.5% and their Asset Purchase Facility at 375B. Although the result is what the market has expected, the knee jerk reaction still caused the GBPUSD to shoot up close to 80 pips in the first 1-2 minutes after the announcement.

If you have gone long on the GBPUSD, you could have bagged close to 80 pips profit within 1-2 minutes, which is equivalent to USD800 on 1 standard lot. Would you mind making an extra USD800 in less than 2 minutes? This could happen to you if you are trading the Forex market. Click here to start your live account today!

Get FREE 1-on-1 coaching by Mario's team

with your FXPRIMUS Live Account:

Related posts:

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3. Forex Breaking News: Kiwi Rally!

via Forex Breaking News: UK Maintains Status Quo

Spreads: Difference between the buy and sell prices

The Pipspread

A spread or pipspread is the difference between the bid price and the ask price. Most online forex brokers utilize spread-based trading platforms for individual traders. Look at the spread as the compensation the broker receives for being the market-maker and executing your trade.

Spreads vary from broker to broker and by currency pairs at each broker as well. Generally, the more liquid the currency pair, the narrower the spread; the less liquid the currency pair, the wider the spread. This is especially the case for some of the less-traded crosses.

Traders prefer tight spreads to most of the major currency pairs.

Get FREE 1-on-1 coaching by Mario's team

with your FXPRIMUS Live Account:

Related posts:

1. Question from Will: Other than trading the currency pair EURUSD, do you suggest new traders to opt for tighter spreads and lower Stop Loss placement?


2. Question from Abhijit: How to choose the right broker? Which type of broker is good – ECN, STP, market maker or no dealing desk?


3. Bid and Ask Price: Determine which is the BUY and SELL price

via Spreads: Difference between the buy and sell prices

Bid and Ask Price: Determine which is the BUY and SELL price

Bid (Sell) Ask (Buy)


When you’re in front of your screen and looking at an online forex broker’s trading platform, you’ll see two prices for each currency pair. The price on the left-hand side is called the bid and the price on the right-hand side is called the ask.

The “bid” is the price at which you can sell the base currency. The “ask” is the price at which you can buy the base currency.

Some brokers display the prices above and below each other, with the bid on the bottom and the ask on top. The easy way to tell the difference is that the bid price is always lower than the ask price.

Related posts:

1. Question from Salwa: What does “buy the rumor, sell the fact” mean?


2. Question from Dannyl Low: What common indicator helps determine the exit price?


3. Question from Khateeb Jaleel Haroon Basha: When do you think I’ll be making profit with my equal Sell and Buy positions on the EURUSD?

via Bid and Ask Price: Determine which is the BUY and SELL price

Who Trades the FOREX Market?

(Note: this is a Copy paste content on AskMarioSingh.com)


Who Trades the FOREX Market?
 by Mario Singh
  
Central Banks and Governments
Policies that are implemented by governments and central banks can play a major role in the Forex market. Central banks can play an important part in controlling the country’s money supply to insure financial stability. Things that they do;

1. Manage Inflation
2. Control Interest Rates
3. Regulate Money Supply

Commercial Banks
A large part of Forex turnover is from banks. Large banks can literally trade billions of dollars daily. This can take the form of a service to their customers or they themselves speculate on the Forex market.

Hedge Funds
As we know the Forex market can be extremely liquid which is why it can be desirable to trade. Hedge Funds have increasingly allocated portions of their portfolios to speculate on the Forex market. Another advantage Hedge Funds utlilise is a much higher degree of leverage than would typically be found in the equity markets.

Corporate Businesses
The Forex market mainstay is that of international trade. Many companies have to import or export goods to different countries all around the world. Payment for these goods and services may be made and received in different currencies. Many billions of dollars are exchanged daily to facilitate trade. The timing of those transactions can dramatically affect a company’s balance sheet.

Man on the street
Although you may not think of it, the man on the street also plays a part in today’s Forex world. Every time he goes on a holiday overseas, he normally need to purchase that country’s currency and again change it back into his own currency once he returns. Unwittingly, he is in fact trading currencies.
He may also purchase goods and services whilst overseas and his credit card company has to convert those sales back into his base currency in order to charge him.

Speculators and Investors
Both will have their reason for believing a particular currency will perform better or worse as the case may be and will buy or sell accordingly. They may decide that the Euro will appreciate against the US Dollar and take what is called a long position in Euro. If the Euro does in fact gain ground against the US Dollar, they will have made a profit.

 Read it more at AskMarioSingh.com

FOREX Market Profits: Understand the principle of buy low and sell high

Profiting from the FOREX Market

The traders profit by simply applying the principle of buy low and sell high! The profit potential comes from the fluctuations (changes) in the currency exchange market. Unlike the stock market, where share are purchased, Forex trading does not require physical purchase of the currencies, but rather involves contracts for amount and exchange rate of currency pairs.

The advantageous thing about the Forex market is that regular daily fluctuations-in the regular currency exchange markets, often around 1%-are multiplied by 100!

Click the image to enlarge

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3. Question from Salwa: What does “buy the rumor, sell the fact” mean?

via FOREX Market Profits: Understand the principle of buy low and sell high

Mario Singh - International Forex Expert

MARIO SINGH
Asia's #1 Forex Coach
CNBC-featured Forex Expert  

CLEANER TO CNBC IN 3½ YEARS - Using the Forex trading methods he now teaches, Mario Singh went from cleaner to successful trader featured on 35 times on CNBC in only 3½ years!

His unique ability to keep Forex simple has drawn thousands of people from all over the world to learn his strategies. Known as a brilliant and intense communicator, his entertaining style keeps his audiences spellbound.

Regarded worldwide as a renowned Forex trader and international Forex expert, Mario has been featured more than 35 times on CNBC, each time in front of over 350 million viewers worldwide. He is also one of the rare individuals in the trading world who has appeared on all of CNBCs major shows, like “Squawk Box”, “Capital Connection” and “Worldwide Exchange”.

With his deep understanding of Global Finance and Market Dynamics, Mario writes regularly for national and regional publications, like “Smart Investor” and “Your Trading Edge”. His recent article “Currency Wars” has received the highest level of praise and recognition from many industry peers, including the author of “Trading for a Living” - Dr Alexander Elder.

He also pens a weekly Forex column for one of Singapore’s national newspapers called “My Paper”. With thought-provoking content and deadly-accurate Trade Calls, Mario’s column is read by half-a-million business executives all over the country.

Interestingly, Mario first started on Forex trading when he bumped into a friend who was trading from his laptop in a coffee shop. The idea that all one needs is a laptop and internet connection to earn money from Forex captivated Mario, who immediately jumped in with both feet.

His first Forex trade, however, was a disaster, and Mario blew his first $3,000 account in 6 days. Down and dejected, it was this low moment of his life when he was reminded of the words of a successful Chinese businessman, “In life, there are no successful careers, only successful people”.

Steeling himself from this painful setback, Mario made the decision to master Forex trading. He began seeking world-renowned Forex experts to come under their mentorship, which dramatically cut short his learning curve and skyrocketed his trading results.

Within just 3½ years, Mario became a successful Forex trader featured on CNBC.

Today, as Founder and Chief Forex Coach at FX1 Academy, Mario Singh has touched the lives of over 20,000 people all over Asia on his methods to become consistently profitable in Forex trading, helping them move closer to their financial goals.

As a world-respected Forex educator, Mario Singh has even been invited to train institutional traders and bankers from Julius Baer - the third largest Swiss bank in the world with assets under management of CHF 340 billion, and ICBC - one of the largest commercial banks in the world with a market capitalization of USD 269 billion. OCBC - recently named as the World’s Strongest Bank - have also invited Mario to speak with their traders and clients.

Mario has a big vision, to help create one million enlightened millionaires all over the world through Forex Trading by the Year 2020.

Are You Next?

Learn more about Coach Mario Singh at http://mariosingh.com/

Lost in the Forex wilderness? Help is at hand.

Whether you’re a newbie or an experienced Forex trader, there is always going to be new information and strategies that can make or break your trading experience. The difficult question is, where do you go to learn these new techniques and get the support you need to trade successfully?


There are plenty of books, online guides, websites and blogs that each have their own theories and advice on Forex. The main problem with these resources is that they are usually only a one-way conversation, meaning that if you have a question you may have to wait for a reply if you even receive one at all!


This is why it’s surprising that no other Forex brokerage has offered 1-on-1 live coaching FREE for 60 days when you open and fund a live account…until now!


FXPRIMUS have launched an industry first in FXPRIMUS Coach, which provides an unmatched level of personal coaching and more for its clients. Backed by the FXPRIMUS Training & Education team, FXPRIMUS have dedicated expert coaches standing by to answer any and all questions you have on Forex inside the FXPRIMUS Coach platform.


There is a whole range of other services offered through FXPRIMUS Coach that I will go into more detail in another post. But for now you can experience FXPRIMUS Coach for 60 days for FREE if you have a live, funded account with FXPRIMUS.


To preview everything you get inside FXPRIMUS Coach just visit
http://www.FXPRIMUS.com/coach?r=91428.


P.S. In another industry first, FXPRIMUS also offer the most secure fund protection of any other brokerage in the industry. Here are two reasons why: http://www.FXPRIMUS.com/fund-safety?r=91428.