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December 10, 2015

EXCLUSIVE: How to Trade a Liquidating Forex Market

This is a must read! I have written several articles on how to trade a liquidating market and given the price action over the past week, including yesterday, it is worth reiterating. Understanding the dynamics of a liquidating market, recognizing when in one and having strategies to trade it can make the difference between have a good day and a painful one by making the forex market your enemy as I will explain in this exclusive report. 

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November 16, 2015

VIDEO: Forex Trading Tips in 60 Seconds: Pattern Recognition

I love to uncover trading patterns that you can trade as they offer the opportunity for repeat trades and to milk the pattern as long as it goes on. Once the pattern is broken, it is time to look for another one. In this trading tip video I reveal a trading pattern I uncovered that lasted more than two weeks.  You can look to uncover your own patterns or contact me to get access to patterns I have uncovered and/or ones currently going on.

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November 05, 2015

Ask Your Advocate: Help, This Broker is Not Honoring My Withdrawal Request

Ask Your Advocate: I am not sure what kind of help I could receive from you.  I have an account with Ironfx and submitted withdrawal request last Friday. As of now nothing has happened. I have not gotten any answers from the person who is apparently in charge of my account. He does not pick up the phone and I am also reading about other customers having similar problems. Please advise.

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November 04, 2015

VIDEO: Forex Trading Tip in 60 Seconds: The Anticipation Trade

Those who follow me know that I prefer to trade in anticipation of key events than to roll the dice on the outcome of the event. I call this the anticipation trade and present it in my Forex Trading Tip in 60 Seconds. This is a strategy that can be used during a week when there is a key event as the forex market sets up ahead of it. 

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October 28, 2015

VIDEO: Forex Trading Tip in 60 Seconds: When to Fade Retracements

Trading is all about odds and there are times of the day when the risk of fading a retacement has a better chance to succeed than at other times. Once you understand the why you will have a strategy you can use in your everyday trading. I illustrate this with a real-time example and explain the logic behind it in my latest Forex Trading Tip in 60 Seconds, 

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October 08, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Trading Pattern Revealed - Post Mortem

The forex market is often correlated with equities and a key driver of price action. The question is which market is leading and that may depend on which one you trade although we find that equities are often a drives currency price action. The oither question is how to trade correlations and I address this in my forex trading tip in 60 seconds video. 

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October 06, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Trading Pattern Revealed

I love trading patterns as they give structure to the market and a way to repeat trades. On the other hand, I am on alert for a directional move when they are broken. See below for one of a trading pattern I reveal in my forex trading tip in 60 seconds.

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October 01, 2015

VIDEO: Forex Trading Tip in 60 Seconds: How to Catch a Falling Knife

Is it possible to catch a falling knife? This is a term used to describe trying to pick a bottom (or a top as the case may be when a currency is moving sharply in one direcrtion without apparent support or resistance. It is generally a matter of luck than skill although I show you how this can be done and what to avoid in my latest forex trading tip. 

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September 28, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Don't Mix Time Frames

This is a good day to post this tip (in 60 seconds) as it is not only one of my favorites but also it is a timely one. This is a day where the EURUSD is seen as having a medium term downside risk but confounded the long-term view by firming as risk-off (i.e. weaker stocks) saw it rebound as correlations took over. For those who fought the move up based on a medium term view, it is a good example of how not to think like a position trader and trade like a spot trader. It can a prescription for pain.   

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September 24, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Using Former Trendlines as Support or Resistance

This forex trading tip is illustrated in a real-time example where a former trendline held as resistance. This is what I would call a textbook case as it worked perfectly and is a trading tool you should have in your toolbox. See this explained and illustrated in my forex trading tip in 60 seconds.

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September 22, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Using Head and Shoulders

This forex trading tip was inspired by one of the more respected and experienced traders on GVI Forex. This alerted us to a head and shoulders pattern that played out like a textbook as the neckline was broken. As with all my 60 second trading tips, I use real-time examples that you can apply to your trading. 

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September 21, 2015

VIDEO: Forex Trading Tip in 60 Seconds: Look for Confirmation

This is a new feature using real-time examples to illustrate a point. This one minute trading tip is actually two in one: Look for an indicator that is tracking the price action and see how to find confirmation for a trade. 

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June 03, 2015

Stops Are the Strongest Force in the Forex Universe

I have seen the term “stop hunt” being used more frequently, including the past few days, which seemed more like a stop tsunami as the EURUSD (led by a massve bund sell-off) led a general dollar retreat. I have written about the forex market being in a never ending quest to run stops and this was just another example. While this has always been the case in the forex market, the increasing influence of algos, which act like predators on a seek and destroy mission, has made stop hunting a trading strategy.

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May 13, 2015

Trading Leverage ‚Äď How much is too much?

By Max McKegg

One of the issues that confront all traders is how much leverage to use when trading forex. Although there is no single “right answer” to this question, there are some important guidelines.

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May 12, 2015

Ask Your Advocate: Help Me Before My Account Blows Up

Ask Your Advocate; I am relatively new to trading and have been one step behind the markets. Lately, when I sell the market seems to buy and when I buy the market seems to sell. Even when I am right the volatility more often than not is taking out my stops. Can you help before I have nothing left in my account?

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February 18, 2015

GTA Special: Video: The Hard Trade is More Often the Right Trade

This is one of my favorite forex trading tips and one you might not find elsewhere. I call it a GTA Special because I encourage you to pay attention to it. If you do, you will find yourself more often than not trading on the right side of the market or at least not getting suckered into taking a trade that looks too easy. This is a gut reaction I still have to fight to this day.

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January 26, 2015

Why Retail Forex Trading Will Survive and Thrive

The aftermath of the Swiss National Bank shocker that caused so much pain in the forex market has raised questions how this will be impact the retail forex market going forwards. I will address these issues and argue that it should strengthen rather than weaken the industry once the dust settles.

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January 20, 2015

Are You Responsible for Negative Account Balances with Your Forex Broker?

I have gotten several emails from traders who got hurt by the SNB decision to abandon the defense of EURCHF 1.20 and subsequent gap higher in the CHF. The questions range from whether a forex broker has a right to subjectively set a rate for the execution of a stop order to what to do about a negative balance the broker is asking you to pay. The latter is the more pressing issue that I will attempt to address as it affects all who trade retail forex.

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January 20, 2015

Series: Thoughts on the Swiss Franc Crisis-- Causes

I have been active continuously in many facets of Foreign Exchange since the early 1970’s and feel the need to correct some of the nonsense I have been hearing from the talking heads on TV and to provide a little risk management advice to retail forex traders.

First of all this tsunami was not created by retail or interbank dealers, it was caused by a major imbalance in the CHF to EUR value created by a disastrous decision by the SNB. The SNB had become worried several years ago by the deflationary impact on the Swiss economy of an overvalued (and rising) currency against its major trading

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January 19, 2015

Exclusive: inside Story About Forex Brokers and the SNB Shock

While I am not privy to any specific information, I have pieced together why some forex brokers were ravaged by the aftermath of the SNB decision to abandon the EURCHF floor while other forex brokers managed to make money on the unprecedented volatility. As you will see, it is ironic that those who hedged the risk to their trading books suffered while those who took on the risk by not hedging survived, even thrived. If the opposite price action had occurred (i.e. CHF gapped sharply lower) it would have seen the so-called bucket shops get ravaged but such was not the case. As I will show it was the more conse

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