Gold Trading Buddy whether in analyzing price movements or in your trading activity is focused on fundamental analysis? If yes, you have to understand a lot in analyzing economic data of vast quantities of it. You have to know where any data or news that is important and influential with your instruments traded. There is data that is very important and influential (big figures) but there is also news that is not so important..jpg)
Trading Gold, Gold Trading Online, How to Invest Gold, Gold Price Chart
Economic Data That Has Its Effects on the Market
Economic data; or also known as economic indicators; the economic data that is used as an indicator to determine the economic conditions of a country or region. When narrowed, these data provide information or signals for traders to take a decision. Of course, economic data released this will have an impact on the exchange rate of a country.
Many governments and financial organizations who released an economic data or economic indicators from time to time on a periodic basis. Economic data is part of a public policy that provides information to any person about the economic changes that occur in a country.
Economic data are quite important when released often lead to higher transaction volumes and could change the direction of the market or the price trend. You can address these data according to your interests. If you are a trader, do not actually need to know in detail about the economic data released. You enough to understand whether the data is good or bad for a currency.
In contrast, if in case you are an analyst; or economists; it is mandatory for you to know the details of each data released.
The release schedule An Economic Data
Buddy Way Gold Investment - Economic data have a schedule called 'economic calendar'. Traders generally will pay attention and wait for the data released especially for economic data that have a very large effect for the market. Such data could immediately affect the price movements even in a matter of seconds. For today many resources on the internet that provides scheduled release of economic data.
Economic indicators represent some of a country's economic data such as GDP data, the data sector employment as well as the non-farm payrolls data is consumer price index is the data to measure a country's inflation pressure. Every economic indicator is useful to measure a country's economy and how it affects the movement of the currency of a negara.Data-mentioned economic data this must be considered, because the data pertained big figures.
The Data Analysis Released
Economic data released by each of each country can have effects to the country but not necessarily affected the other countries. For example, CPI data from the UK states that when the data is released will have an impact on the currency of pounds and not necessarily impact on the Japanese Yen or Rupiah.
So to take advantage of this economic data in the analysis, you have to know what currency pair would you traded. Misalny you will trade the currency pair GBP / USD then simply focus on economic data released from the UK or the USA. You do not need too much attention to economic data from Japan for example.
But there is one thing you should look. US dollar is the key driving force in the forex market. Therefore all things associated with the US and its central bank (Federal Reserve / Fed) should be your concern.
Anticipation Of The Economic Data Released
Buddy Way Gold Investment almost all economic data released and is usually in the form of figures have been anticipated by analysts or economists. They try to predict approximately how much data is to be released is based on their deep knowledge in economics.
Many traders who follow the predictions of analysts and economists were. If the release of economic data outside analysts or economic forecasts, this could lead to volatility in the market.
Economic indicators can greatly help you to develop a trading strategy. But you have to give attention to economic data scheduled to be released because it would be very influential, especially if you already have a previous open position.
Buddy Trading Gold may often hear or read traders who say the price is currently overbought or oversold area; "Overbought" or "oversold". You probably already know that if the price was considered overbought (oversold) then there is a possibility he will move down. Conversely, if it is considered oversold (oversold) then there is a possibility of further movement will rise..jpg.png)
Trading Gold, Gold Trading Online, How to Invest Gold, Gold Price Chart
But you know how to identify overbought and oversold situation real? This article will review how to identify two things properly.
Real Bounce / Correction Real
The most important thing to be seen from the movement of the price is what happens when prices move fast enough, for example when the price goes down very sharply in a matter of minutes.
Consider the following graph:Trading Gold, Gold Trading Online, How to Invest Gold, Gold Price Chart
As shown in the graph above, the price observed a sharp decline (usually because no economic data released). The sharp decline that occurred at some point will experience burnout. If while stochastic is in oversold area and price then bounces back up (corrected), it can be said that the correction is a real correction.
Dead Cat Bounce / Correction False
This reversal occurs when the price did not experience a sharp movement but moving in a narrow range (sideways or consolidation).
In this case, if the stochastic example gives sinya oversold oversold then this is false, because the price just moved in a narrow range. Even sometimes the price could continue to decline to lower levels though the stochastic is in the oversold area.
Consider the following graph:Trading Gold, Gold Trading Online, How to Invest Gold, Gold Price Chart
Seen in the chart above that the price is moving sideways and the Stochastic Oscillator shows oversold indication. It is false oversold condition. If you follow the stochastic signaling Buy and you enter a Buy position then most likely you will get stuck. Can you see the prices rose only slightly, then down again even more sharply.
Well, after seeing the above case can at least be open-minded pal Trading Gold that is not always an indication of an overbought or oversold indicator will be followed by a reversal or correction.
Maybe one day you feel the gold trading system that you have started to often give wrong signals or frequent contact with a stop loss..jpg)
One thing that you must understand that a trading system can not survive for long periods of time, this is because the market conditions have changed. So we also have to modify the trading system that we use. If someone said that trading is an art where the one that lies the art of trading.
Trading Gold, Gold Trading Online, How to Invest Gold, Gold Price Chart
When trading system we began showing symptoms of strangeness does not mean you are ugly or trading system it is time to be replaced. The point is not to replace your trading system because after all you are comfortable with trading systems that you wake up. It is like a vehicle that often we use every day when we're comfortable with the vehicles we drive, when the ride has started not feeling it might be time for servicing your vehicle or in-tune up.
Before you to judge that the trading system you are ugly and should be replaced, it would be wise if you re-do a backtest on your trading system and return to try to demo account first to see the new settings.
Here are the things you can do on your own trading system up and want to restore performance.
1. Perform the test with a larger time frame. If the time frame that you used previously did not fit, you can try it out for a higher time frame. The current volatile market conditions so you can try a higher time frame because it is usually more stable.
2. Replace your instruments traded. It is possible characters instruments / currency pair that you always traded has changed. You can do a test against another currency pair that may be the character does not really change.
3. Change the parameters of Stop Loss or Profit Target. If you previously quite successfully using the trading system with stop loss is short, but if a volatility become more "wild", then you can change the stop loss and profit target you. However, when changing the settings must consider the risk-to-reward ratio is.
4. Adjust the use of technical indicators. Too much use of indicators will be very confusing you, especially if the market moves pretty wild and more volatile. It would be wise if you limit the use of indicators.
5. Do backtest back. After you change the parameters of your trading system, then the next step is to do a back test back. If the results are good enough you can try to forward test with a demo account first facility. If you are sure it is back trading system gives good results only then can apply in the real account.
6. If a trading system that has been modified gives pretty good results as before the last step which share most of your profits for those who need or can not afford.
Buddy Trading Gold in trading, there are two types of analysis done of technical analysis and fundamental analysis. One of the fundamental analysis that is done is by using economic data released.Trading Gold, Gold Trading Online, How to Invest Gold, Gold Investment, Gold Price Chart.jpg)
Of economic data released can be utilized as one trading strategy to gain profit. There are several important economic data had an enormous impact on the market, causing prices to move tens or even hundreds of pips in a matter of minutes.This time we review the tips that should be considered in the use of economic data as a strategy in our gold trading.
Economic Data The Ber-effects of theEconomic data or economic indicators signaled that provides guidance on the economy of a country and its influence on the movement of a country's currency. This information is very important for traders who in transactions using fundamental analysis to make decisions Buy or Sell.
Important economic releases are often accompanied by increased volume of transactions and can have a major impact on the movement of a currency. In view of this economic data we should be able to position ourselves as a trader rather than as an analyst. Because if we position as an analyst then we would be stuck want to know deeply about the economy of a country. The result will be a lot of information that we are looking for so we added a headache. But if you position yourself as a trader, you just focus if the data is good or bad, and its effect on how the currency.
So the first factor that should we know that the data anywhere that has a great impact on the market, because not all economic data has a great effect. Focus only on the important data. To determine the important economic data will be released now many websites that provide such information, for example www.forexfactory.com
The release schedule of Economic DataWith the advancement of technology, today we are able to know in advance when an economic data will be released. Today many media both online and offline that provide information or schedule data release of the economic data. Even now there is software that will automatically provide alerts when the economic data will be released. In addition, almost all brokers provide this facility on its website.
So the second factor we must note that a timetable for the release of economic data is released. By knowing the schedule of economic data will be released we will know when to trade.
Analyzing The Economic Data ReleasedImportant economic data is usually associated with the labor sector, the rate of inflation, economic growth and central bank policies related to interest rates. Usually these data are considered by traders as major impact on the market.
It should be noted that the US dollar is a key mover in the market, so that the economic data related to the US dollar will normally be getting attention.
For these three tips we need to know the effects of an economic data against currency movements. For example, if the interest rate in the US is raised we need to know the impact on the US dollar. If for example the data released by the UK unemployment rate we have to know the effect of the pound.
Anticipating The Economic Data ReleasedUsually of any economic data that will be released will be estimates based economist. They try to predict the magnitude of the number or value of the data based on the analysis of the economic conditions.
Many traders who follow this prediction. If the results differ much data released by the economists' forecast, usually the market volatility will be very high.
For tips on the latter, you should be able to quickly anticipate economic data released. You have to stand by in front of the computer five minutes before the data are released, because only in a matter of seconds when the data can be released directly affected the market. Do not miss any news or lose the moment when you trade using fundamental analysis.
Example:For example, suppose there are estimates that for the US Non Farm Payroll data is to be released, according to analysts will be the addition of 100,000. Currently, this data will be released normally traders will not get in position until the data is released. And it turns out when it was released a result diminished 25,000, where the outcome is far from surprising analysts expected and traders. Traders who believe will be good before the data and has entered the position will soon be closing its position, it will lead to rampant selling of the US dollar and made the US dollar weakened.
One thing that must be considered by traders who take advantage of the economic data that is associated with the revision of the previous month's data, it is also usually have an impact on the market. So in addition to the data released by the other important things that also should be noted that revisions to previous data results.
Economic indicators could be a useful tool for traders to develop their trading strategies. Traders should pay attention to the schedule of when the economic data release as it will contribute to position the trader will take. And one thing a trader should follow economic data from countries that have an effect with currency pairs traded trader, that if we would be trading pounds, then note the data economic data from the UK and the US, if there are economic data from Japan can be discounted because the effect is not will greatly to the pound.
Companions Online Gold Investment - Is your trading now could not be consistent? You may be able to profit in three consecutive transactions but the transaction to four of your loss. And more cruel loss you experienced in these four transactions to singe your profits already obtained in 3 transactions in the beginning was. You've certainly never experienced an incident trading as above instead?.jpg)
Well on this occasion I will review this error is usually done by traders, particularly novice traders. The goal is to attain a consistent profit could, in the sense that although the loss of the two times is not singe benefits already obtained previously.There are three basic things that limit the potential for huge profits that you can actually get, namely:
1. Put Volume Transaction Wise (Lot)Placing the number of lots can be an important element in your trading activities. This can be a differentiator when compared between catching fish catch big or small fish catches in recent times.
But that must be considered to know in advance how much you are willing to accept the risk. In addition, you also have to know when to try to catch a big fish or when to minimize your risk.
2. Inability to Adapt With Market ConditionsTo maximize the movement in the market, then you should be able to know and to be flexible with changes in price movements in the market. You can not expect to make a profit in large quantities while volatility or price movements are very low and prices move in a narrow range.You should know the condition of the market and should be aware of the advantages or risks that you want to accomplish. Always plan your trading with market conditions.
3. FearAre you sure you, get in position when the price has risen Buy and Sell when the price has fallen can help you take advantage of the momentum? The answer is probably yes, but there are drawbacks as well.
First you will never get the best price for you entered when the price already amid of a trend and the second you get out of your position when the price will be corrected.
For example, you enter a Buy position when the trend is strong enough but you influx amid not the time trend began to take shape, which is usually marked by a break of support or resistance. You all must have known even if the price moves in no time trend will undergo correction. Well, when this correction which usually makes you feel uncertain or afraid whether the price will turn around so you hurry hurry to close your position.
This fear happens when you enter the position is not at the beginning of a trend, but amid the trend so that when the corrected price will be close to the price of the position that you took earlier.
This fear can also be caused by the influence of the two points above that you are not able to adapt or read the market. Remember graphs or data that economic data become your reference in trading do not trade by feeling, supposing us who want to travel to a place we've never visited then we will need a map in order to know where we are and not get lost, well in trading charts and data The economy becomes a map in your trading.
Buddy Trading Gold - Everything was not excessive either. If you eat too much spicy food, usually tends to cause abdominal pain. If you are too much sleep usually cause you're too lazy to move. Well, in trading too. Too confident aliases over confidence and over-trade will drive you to the brink of loss. Disease "too" is plagued most traders. Whose name defect certainly not good, then it should be avoided.
You Need Confidence, Home In Reasonable Limits
Confidence is necessary in your trading activities. Traders who do not have the confidence, the trader is not ideal. Trader as it is usually too rely on the analysis of others and into the market based on the analysis. It is not allowed to see other people's analysis as a second opinion. But if you are too dependent on the analysis of others then your confidence will grow. If the analysis is wrong, you will tend to blame the person.
Train your confidence. One way is to practice beforehand using DEMO ACCOUNT before entering the real market.
Over Confidence Ancestor Over Trade
Buddy Way Gold Investment - excessive confidence usually tend to make too bold a trader to enter the market. He will tend to forget yourself, the more often go to the market and is fatal in their trading accounts. It will go against the market trend and with congkaknya think that the price would have turned to follow his predictions. Trader is generally forgotten endurance strength of their funds, which eventually runs out.
If you want to become a successful trader, you should mentally prepare traders are confident, but do not get stuck in over self-confident. Susahkah? Time and processes that can talk.
Ok dude Trading Gold To train and test the ability of trading skills Trading Plan you please use the DEMO ACCOUNT before really using real account
There are a few things you should consider when pal Trading Gold Trading compose the system:1. Find the entry point as early as possible2. Find the exit points to secure the maximum benefit with3. Avoid spurious signals as they enter and exit the market.jpg)
If these three things can be done, the trading opportunities that you stacking system will succeed. The steps in setting up a trading system that is:
Step 1Determine Time Frame For Your Gold Trading
It is the first step in setting up the trading system, this step can only be your own answer because it depends on the time you can dedicate to trading, if you have plenty of time to sit in front of a computer? if yes you can use a chart with such a short time frame 5 minutes, 15 minutes or 30 minutes, or you feel comfortable watching the chart two or three times a day can use the time frame for 1 hour or 4 Hours. Please ask your inner how loose each time you have to trade.
Step 2Determining Indicator That Will use
For now almost all trading platform already provides lots of indicators not to mention custom indicator that you can find on the Internet, although not all indicators provide rapid signal to follow the movement of prices, while at the outset to note that the earliest possible entry position.
As a reference several indicators that provide faster signal about the changes taking place in the market as well as the opportunity to get in position, among others, EMA (Exponential Moving Average), SMA (Simple Moving Average), Parabollic SAR, MACD etc. That must be considered is to understand the basic workings proficiency level indicator.
For example, one of the indicators to determine a reversal is to use the intersection of two EMA EMA for example 5 to 25 EMA. Or for example, using the intersection of the stochastic oscillator with the MACD, the way it works is very simple: wait two indicators intersect each other.
But when using a variation of this indicator, it is advisable not to use too many indicators because if too much will make you confuse yourself and need more time all the indicators give the same signal. And one thing that must be understood that this indicator not only as a tool to ensure the tool where prices will move once more that we can do is analyze and analysis can also be completely wrong.
Step 3Determine Currency Pair and Determining The Crowded Market Hours
Etc. Each currency pair has its own character itself, some can be very volatile as GBP / USD or GBP / JPY some very not so volatile as the EUR / GBP.
Setting indicators used for each of each pair can also give different results such as setting an example of 5 EMA and 25 EMA if used for the currency pair GBP / USD the result could be different if used in the currency pair EUR / GBP. While To XAU / USD own me more comfortable in 20ema and 50EMA
In addition, we also need to know at what time the pair have experienced a great movement, as per each pair of clock movements clock can be different, for example, we are trading the USD / JPY will move mornings ago GBP / USD will start moving during the day, so for example you are trading the GBP / USD then you do not need a computer in front of the morning because it usually will not be a big movement and will often give the wrong signal.
Step 4Determining Entry and Exit Point
The next step after determining the indicators that will be used that make the transaction when it is time entry rules and when to exit.
To determine the exit points, there are two ways you can do is determine the exit points with the same number of pips every transaksinnya for example when an indicator to signal the entry then we've set an exit pointnya by 25 or 50 pips or use a trailing stop.
In addition to determining the exit can also follow the signals given by the indicator, if based on a given signal, the indicator of the profit or loss that we can get is different.
Step 5Calculating Risk Every Transaction
The main thing that must be considered to calculate the risk is to determine the risk and reward ratio is right, many of which suggest enter positions when the profit to be gained at least two times of the possibility of loss that may occur or the risk-reward ratio of 1: 2. The point is not to when you loss removes the advantage that you have previously obtained.
Step 7Test Your Gold Trading System With Demo Account
After going through the above steps and through research, it is time to see if the trading system which we have collated successfully and can be used in a real account. Before entering into a real account first test on a demo account. Record in a journal of all the transactions in a demo account. When using a demo account with a capital adjusted capital would later use in a real account.
If the gold trading system tested in a demo account gives great results. Maybe it's time you trade with a real account. Although later some things to consider when your trading system is applied in a real account because it could give different results, it is associated with psychological or mental you.
