Jul
8
Trading Forex with Woodies CCI
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Woodies CCI system is particularly popular with futures traders, but can it work with forex? We look at what the system is, and how it can be applied in the currency markets. What Is Woodies CCI? Woodie is a day trader of 25+ years experience, and is well known among traders of index futures such as the EMini S P 500 and the EMini NASDAQ 100. His system is based on a number of patterns made by the Commodity Channel Index (CCI) indicator. It's a little different to most indicator-based systems, and traders tend to either swear by it or swear at it, but there is no doubt that its creator trades very successfully with it day in day out.
Jul
6
Common Mistakes by Forex Traders
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1. OVER USE OF LEVERAGE- Not controlling speed of market due to over use of leveraging tool. The lower the leverage factor or Gear ratio the slower the move. GEAR RATIO is a good way to understand leverage. If you have a car in 10th gear it will go much faster than if its in 1st gear. The higher the leverage or gear the faster the speed and the less time to react. It is the same thing with Forex, the more lots, the faster the speed; each lot increases leverage or gear ratio.