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Forex Articles

These Forex articles are free sample of what you will get with a 4XWorks Classic or 4XWorks Pro membership. If you like what you see here, you will really like what you see as a member. Go to our Forex Training memberships page to learn more.

The Truth About Review Sites

It is has always been my goal to help new traders understand what's real in this industry. Opportunities like forex can play hard upon emotions and those who understand the art of manipulation take advantage of this scenerio. There are many websites that promise huge gains if you follow their simple easy to follow programs. Ads like, "Use our software and watch the money roll in, its easy!" Or, "Double your money every month!" Or, "Never work again by using our forex money grabbing robot!" None of these websites ever helped anyone.

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The Question I Get Asked The Most

For as long as I have been teaching people how to trade, there is one question that I get asked the most and that question is, "How much money should I expect to make?" It's not necessarily a bad question but the problem is that those who ask it, do not fully understand what it means to be a trader. Please bear with me as I me explain.

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Avoiding Indicator Hype

MACD, CCI, Alligator, Parabolic, Stochastics, Money flow, moving averages, ect. The list goes on and on but do indicators really work? And if they do, which ones should a trader use?

Three basic types: Trend, Oscillators, and Volumes.

  1. Trend types are mostly based upon moving averages. In layman’s terms, “moving averages” smooth out price so that a trend can be interpreted easier. Many traders use moving averages to confirm support and resistance in the context of retracements.
  2. Oscillators: Oscillators are basically modified moving averages plotted at the bottom of the chart. They are used in a similar way as trend types, but are often used to predict divergence. Divergence is when the price of an indicator moves in the opposite direction of price action. This is usually used to predict a possible change in direction.
  3. Volumes: Volumes are indicators that show the strength of overall trading volume.

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Why I Don't Trade Multiple Pairs

"How many currency pairs do you trade?" I get asked this question a lot and the reaction from potential clients is always the same. They don't always like my answer because it's very common for clients to believe that trading more pairs creates more opportunity. Yet in truth it does not diversify your trading at all. It causes confusion, distraction, and increases risk.

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