Forex Trading For Beginners – Full Time Professional Trader Course Part 1

Forex Trading For Beginners – Full Time Professional Trader Course Part 1



Forex Trading For Beginners – Full Time Professional Trader Course

SEARCHING FOR TRADING SET UP

In this chapter I will explain the process taking place prior triggering a position. Let me explain it a little bit further: the job of a trader is similar to that of a detective. Before jumping into action, meaning
entering a trade in the case of a trader or arresting a suspect in the case of a detective, there is a long job of investigation, sniffing around, considering different hypothesis, analyzing evidences, etc. Just as a detective doesn’t quite get out there to arrest the first folk walking by, a trader doesn’t quite pull out a chart and enters a position right away. Like I said before, there are plenty of things to do before that and that’s exactly what I will explain on this chapter.

THE 3SMA TREND FILTER

So, this is a trend-following system, right?
Nice, nice, but… how exactly do we determine whether we are in a trending market or not?
Well, some people use trendlines, some others rely on Bollinger Bands, some others look at the ADX indicator, etc. Every trader has his bullets. I personally use what I call the Three Simple Moving
Average Trend Filter , which sounds very grandiloquent but in all fairness it’s pretty simple: grab a plain chart devoid of any indicator, trendline or anything else and plot three moving averages: the 30 simple moving average of the close (SMA hereafter), the 50 SMA and the 100 SMA. That’s all I use to
determine trends.

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12 Comments

  1. You describe the obvious.  Need to see what will find to swing into the future.  You are describing the past by what you already know!

  2. muhammad shafiq long

    hello! the Buy/Sell Trend Detector is still available? please let me know at twitter.. TQ! (^_^)

  3. Andres Espinoza

    en español por favor!!

  4. I need training please…msg me on YT

  5. Mafeta Manamela

    Hi Hector. I want to ask this: Are the SMA applied to Close/ High / Open / Low?

  6. Sometimes your using charts for a month, and then you show charts for a week. How can I compare SMA data from these two different time lengths. Why don't you use the same time frame to show the trend. I think there is something your hiding.

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  12. Great information! One quick question though how do I perfectly set up my simple moving Average? I am using the MT4 but my moving averages are not as clean as yours.

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