SniperForexTrader

Hello Everybody,

Please notice I am not making any publicity for the “London close Startegy” , this post is only trying to emphasize the advantage of using microaccounts !

Cheers!

Max Ramirez

Hi Traders.

One of the most confusing and challenging concepts to learn is how to identify the direction of the loger trend, I guess you have heard often that “Trend is your friend” and that you should be looking for trades in the direction of the longer trend.

However one question emerges, How can a novice trader indetify such direction?, to be honest I personally look at my weekly and daily charts, puting more emphasis in the daily chart because I look for entries in the 4 hours charts to stay in the market for few days.

I identify the trend just visually, however there are some other techniques that might give you a better sense of security.

One of those techniques is the use of the 200 EMA (Exponential moving average) , if price is below this line then trend is down, if price is above this line then trend is up, it is a simple still easy way to identify the trend.

You might want to plot the 200 EMA in your Daily and 4 hrs charts, identify the trend and find an entry point in the 1hr or 15 min charts in the same direction.

Here you have a video lesson from Steve Nison, on how to use the 20 SMA (Simple moving average) and 50 SMA combined with the use of candlesticks, I am sure you will learn a lot from it.

Enjoy!

Max Ramiez
sniper@sniperforextrader.com

Hello Traders,

Here is one very important lesson from Steve Nison to who I have the privilege to know personaly.

Protective stops is the subject of this lesson, absolutely a main part of any trading system.

Enjoy!