Forex | FX Operator® | Currency Trading

A new FX Operator website is on the horizon!

Trader Blog - Forex Journal

Hello everyone,

I would like to inform you that a totally new FX Operator is on the horizon. Some of you may notice I have been blogging lesser. Yes, a new FX Operator is coming and is bigger than just a blog. The new services that FX Operator are providing is definitely going to excite you.

A glimpse at the new FX Operator logo

New FX Operator Logo

FXOperator.com is taking the next steps in the Forex evolution. Next month (yes in August!) you will see a newly designed site with entirely new services that will assist you in your trading needs. These future changes are a direct result of feedback from traders like you. Having established many contacts around the world, FX Operator endeavors to bring Forex trading closer to you.

Stay tuned on the future of FX Operator!

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Trading with or without indicators

Trader Blog - Forex Journal

Trading naked?

I know that new traders usually ponder at the question of whether they should trade with or without indicators. From what I can see, some traders glorified the trading style of "trading naked" which means no indicators needed and brushing aside those traders who rely on indicators to make trade decisions. I remember few years ago I went into spread betting and trade the Forex market without indicators, I made and lost some money but over all I am profitable. In my opinion, using indicators (my system now relies on few indicators) definitely nothing wrong with it if you know how to use them correctly. Combining momentum indicator such as Stochastic with trend indicator like ADX can prove useful when determining on how you should make your next move.

In a trendy market, traders look for retracement to re-enter a position and using momentum indicator as a 'guide', follow by looking for 'critical' support or resistance level, one can minimize their risk. By looking at trend indicator, for example on a uptrend, you will look for a price dip to buy again (selling is out on an uptrend). Price action such as candlestick formation, or using Fibonacci to determine support and resistance levels are also useful to increase your probability.

Interestingly, all these are based on personal belief on how the market works. It doesn't matter if you are trading naked or with clothes (pun intended), there is no right or wrong way, for as long as the system works, continue to use and trade with confidence. With or without indicators, you must be comfortable with your trading system.

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Automated Forex Trading in the Currency Market

Trading 101 - Trading Systems and Technical Analysis
tinmantintoys image Since the start of this website, one topic that has eluded from FX Operator is automated Forex trading. I have been a discretionary trader for few years now, and I did not miss any of the expert advisors or automated trading systems. It is more of a personal preference, but if you do not have the time or patience to look at the charts, then an automated Forex trading robot could be an alternative to consider. However, please do not assume that automated trading is the ATM to the Forex market. Most of the retail traders use automated trading systems that operate on what is known as an Expert Advisor, or EA. One of the popular platforms for automated trading is MetaTrader from Metaquotes. Brief explanation of an Expert Advisor is that it has certain parameters and automatically places a trade based on the algorithm it was programmed to rely on. Write comment (2 Comments)
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