Items Tagged With raghee horner

I'm just now getting a chance to post some of the notes from Raghee Horner's second seminar yesterday titled "Three Step Analysis of Forex Trading."

-If risk is too great, don't take the trade
-Trade the 30 minute charts for smallest risk 

3 Step Analysis.  Read more! 

I didn't really mention much about swing trading in the previous posts but here are some notes on Raghee's swing trading method:

1. Identify trend
2a. If uptrend, look at any measured pullbacks and buy them
2b. If downtrend, short any measured bounce

To enter a swing trade, only 1 confirmation:

THE WAVE (For those not familiar with "The Wave", it is the high, low, and close 34 EMA's)

1. Identify Trend
2. Look for a measured bounce, support level, fibonacci level, bounce into the wave itself
if your aggressive, you will take a bounce at first wave line hit; in downtrend, that is the lowest line

In the wave; conservative traders would say to wait for bounce into middle of first line and middle line

The middle or top would be the stop loss; extreme opposite side of the wave; stop loss in middle of wave is still a valid stop loss albeit more conservative

Here are some notes from today's webinar, 3 Classic Steps to Forex Trading:

-Raghee trades the majors
-If USD is strong, CHF is strong and EUR is weak; EUR pratically moves tick for tick opposite of USD; CHF moves tick for tick with USD

Read More!

I've been busy learning the basics instead of trying to crunch data.  A lot of what I've been doing over the last couple of days is reading a lot and looking at charts.  I've been practicing trend line and fibonacci plotting.  I have not been in a trade for about a week.  I'm taking a break until I can put myself together a consistent trading system for myself.

I want to mention again how beneficial it has been reading, "Forex Trading for Maximum Profit."  I will not use his trading system as my own but just by following the discipline he exhibits has been quite helpful.

I just received word that Raghee Horner is having 2 webinars in late February:

Tricks of the Trade - 3/25/06 1 pm EST

Sidestepping Roadblocks - 3/25/06 4 pm EST

You must register now to reserve a space.  These webinars usually fill up pretty quickly.

www.hotcomm.com/virmeetCID_ARR2.asp?CID=MZ6EXZ&MID=WAD7B9

www.hotcomm.com/virmeetCID_ARR2.asp?CID=MZ6EXZ&MID=E78ZQB

Make sure you register for both.