But if you want to save time and make the same amount of money minus the hassle of finding offers, matched betting websites can do all of this for you using more advanced techniques. Just leave it at that and move on with your life. So, what are you waiting for? But, this would be an excellent opportunity to practice to learn the nuances first. Take a look at Bet for example.
We don t know until we can see several other pair charts containing the EURO and the US dollar and note their weakness or strength in that pair combination. You observe the strength trends and use them to insure that they are following price action.
This confirmation of individual currency strength turns an otherwise normal system of entries and exits into a profitable system. It gives us an edge to make it a great system. Pick a pair of currencies that are moving toward strength or weakness using the currency strength chart. Make it a habit to look at each currency on its own and make notes about each individual before you jump into a trade. You want to find a currency on its way up and match it with a currency on its way down.
Don t pick the strongest and weakest since they may have most likely already exhausted themselves. The 50 SMA in any time frame is a good reference point. There is no need for fancy ways of measuring the moving average of price. Exponential and Weighted bah blah really means nothing more than a Simple Moving Average based on the close price. SMA s are a simple way to show you when price is crossing a threshold.
This is your potential entry spot. You will be looking for the 50 SMA crossing with the price line. This must be combined with the correct selection of strong and weak currencies according to the strength chart. Find an entry using a regular Forex pair chart using one that contains the two currencies you have selected as strong and weak candidates. If you see that the Euro dollar has been climbing on the strength chart and the economic news is pretty good, then you match it with a weak and weakening currency.
Once the 50 crosses price, wait for another six pips to make sure it isn t just grabbing a few orders and coming back. Whatever you feel comfortable with is fine. The market may be slow or fast so adjustments have to be made. Your exit is when the 7 or 5 SMA simple moving average crosses the price line.
The faster moving averages allow you to see when the micro trend is over. Binary Options traders can change the SMA to a smaller 7 and P a g e 36 There are plenty of opportunities for taking a sixty second or minimum time trade. Not days or weeks. Our trading decisions should only be based on what is most likely to happen for the amount of time are involved in the trade.
Your objective is to win more trades than you lose. This system, with a fairly bright person using it is capable of very high win ratios. Don t let the simplicity fool you. No candles or bars Use the line chart. No bars or candle views. When I talk about a crossing of lines, I am referring to the price line crossing the moving average line. Not the crossing of moving averages themselves. Sometimes, coincidentally, all three lines may cross. This simple system is about consistency.
It doesn t really matter what time frame of chart you use as long as you are consistent. Don t float around. Become familiar with one timeframe and don t keep changing. The major difference between the two timeframes 37 P a g e 38 is the amount of leverage you should use. If you are highly leveraged and you use a four hour time frame, you can t keep your eye on your account balance. As always, I suggest going with minimal leverage if your account can handle 20 to 1 or less.
Watching every tick on a highly leveraged trade will drive you crazy and the need to drill down to a smaller time chart can t be stopped. The less leverage you use, the better. Those who are using hundreds to one leverage can t afford to use four hour charts unless they have nerves of steel and a huge trading account balance. Later you may want to fine tune with other settings but for now, use the simple close price line and color it blue. I like 7 and 5 depending on the time period and market action.
Not all crossings of the two SMA s have potential or have the currency strength chart parameters. You must have confirmed strength meter readings to go with this simple entry system of 2 moving averages. For example: If you see that the CHF and EUR are moving away from each other on the strength chart and they appear to be moving steadily, open the corresponding currency pair chart from your broker and apply the 50 and 7 SMA to it.
Maybe is it not about to happen so you pick another pair and see if the system conditions match the strength chart. Not every currency will work every time. You must look for both conditions to line up before attempting to trade it. This isn t a race. Take your time and wait. Just because you happen to be ready to trade doesn t mean the market will whip something up for you.
It usually takes time to see a few potential setups taking place. Start your session looking for currencies getting stronger and weaker: Find a few potential strong and weak candidates. Keep your eye on them for an hour or so. You will begin to feel the various trends developing. Don t stare at charts. Just keep the strength charts going while you go about your business. When the conditions show themselves you will be ready.
Some days the setups are seen more often than others. You need to find the sweet spot for the amount of time you are in the trade Most mornings I usually see two or three. Evenings here in North America I can expect at least one good setup. You must get used to observing all the various pairs for this to work. Do not just wait to see if one or two of your favorites will work.
You can t have favorites in this business. It is important you select the correct pair of currencies for the trade. Some time periods result in more profit than others. What moves the Forex market? We are in the world s most competitive environment.
The foreign exchange has the best people in the world trading against us most of the time. I will assume that everybody knows the basic terms in forex, such as pip and currency pairs. If not, you can refer to your broker s manual to get the mechanics or definitions. The way I trade does not encourage using anything but a line and two simple moving averages combined with the currency meter.
Take a good hard look at your broker agreement. As you will see, they do not guarantee stops. They try to get you out. But there is no assurance other than their claim that they did their best and couldn t. So, in effect, a stop order isn t worth beans when you need it the most. Unless you are away from your machine and need something that gives you some illusion of safety, don t set your stop too close.
Your exit should be the five or seven SMA crossing into price, so try to guesstimate how many pips from there you need a stop order. I suggest pips. Professionals with low leverage routinely set pips on intraday trades.
Instead of relying on a set figure for a stop or close out, we use the 7 or the 5 SMA to tell us the trend is most likely over. Of course, during your trade a bit of economic news may have an effect of the currencies you have in play so, In that case, just take the trade off and wait it out. Don t make this profession more of a gamble than it already is.
Learn patience and wait till all the ducks line up before jumping into a trade. Do not play with scared money! This means that you should never trade with food money. If you can t afford to lose it, don t risk it. Either go to a demo or get the heck out of a business you obviously can t afford to be in.
If you have ten thousand dollars or more and you have established credit, use a proper broker you recognize and trust. Until then stay on demo. Those to 1 accounts blow out small accounts in the first couple of trades. Using a reputable broker that has been operating for many years and qualified to carry most of the regulated market instruments, should be your first priority.
Trust and reputation will become very important as you begin making money. Your goal must be to accumulate enough money to open a proper trading account with a regulated and reputable brokerage. Two moving averages on a five minute chart will give us potential entry and exit points. I suggest not messing around with the settings at this point.
Don t try to reinvent the wheel. They work fine, so leave them alone. The technical part of the system is fine so leave it up to correctly assessing the currency strength chart. A five minute line chart should easily display 2 days worth of data. That s usually enough for day trading. The objective is to trade with your eyes ahead, not backward. What the chart did prior to you opening a trade has no significance.
The past is past. We are trading the future. The market will show you a variety of patterns in hindsight, but base your decision on what it is most likely to do in the minutes ahead. It doesn t matter where it has been or where it may be going tomorrow. Look for the trend. I do not recommend you become a robot. We all know those magic systems don t work.
You need to apply common sense and a little sprinkle of intelligence. If you don t have that, get out now! The smart people will eat you alive! Predicting the future market direction of one world currency is enough of a task. Two is even harder.
Using this simple system, I suggest you go with the flow instead of fighting it. We only need to know which currency is moving toward or away from a long term trend. It shouldn t matter which currencies you trade. Only that you see a clear trending direction developing over a variety of time charts. Messing with one indicator after another brings nothing consistent into your day. You need habits. Good ones of course.
When you can take a look at a chart and say to yourself, Hmm. I have seen this before. I know what to do. You will be on your way to making a living in this exciting industry. The heart of the ForexGrail system is you. If it was the system itself, I could automate it and the money would be in leasing it to banks.
A system is only as good as the person or people following it. It is you that makes this work. Watch the currency meter for a few days in your chosen time period. Get used to seeing trends develop. Forex is speculative trading of derivatives at high leverages.
The people most likely to use huge leverage are beginners. Tiny movements are magnified several hundred times. You can lose a thousand dollars in the blink of an eye trading at to 1. All trading involves risk. You may lose several trades in a row so you need enough money to ride it out. No system is capable of 10 out of 10 wins consistently. It is you who will make any system work. Let s get back to the moving averages; Used on their own, two SMA s simple moving averages on a cross will give you a certain ratio of winners to losers according to what s going on in the market.
It s a gamble. The essential ingredient in this system is the currency strength chart. We are watching with strength confirmation for the cross of the price line and the SMA. Exit when the 7 or 5 SMA crosses with the price line. The 50 period simple moving averages tell me the trend for my time period intraday. It tells me the way the market is trending. Basically, what I want from the fifty line is what the average price has been during fifty, five minute sessions.
The trending direction. Wait until price line has crossed the 50 to enter a position in the same direction as the trend. If the line is slanted up then a buy is likely. I like to wait for at least 6 pips above or below just to make sure it s not a fake out. Think of the moving average in terms of price, not position. See it in a different light by observing it without the price line at all. Do this on your charts.
Make your chart all black except for the one 50 period moving average. Look at the price. You are seeing the actual market direction without noise. Candles, bars. Indicators, colors, are all noise. Just the ups and downs of trend. I m used to them. They re comfortable. They re familiar. This is very important in working any system. Get comfortable with it. Find some consistency.
I have come to depend on the five minute chart as my way of seeing differences. Set your pair chart to line mode. All charts allow you to view price as a line instead of a bar or candle. The forex grail system requires lines to show price as a line. The crossing of price against the simple moving average. Not the two moving average lines crossing. By the time the two moving averages cross, the move is over. Those are lagging indicators so I don t want entry or exits based on crossing of the averages.
It has to cross with price. With the currency meter confirming an entry, we get a jump on the other traders waiting for the cross between the two moving averages. You ll see what I mean now that I mentioned it. I don t use bars or candles. I am only interested in the averages of price. Learn to see the market in terms of averages.
The only way to do that properly is by viewing a line chart. It filters noise and price peaks you wouldn t have gotten filled at anyway. It displays at a glance the true average direction a currency is going. This picture was taken about 20 minutes after the signal to enter was given by the The price line is white. You must be strong. Make the determination now, that you will follow the ForexGrail trading system with the numbers I give you before trying to make changes.
Do not make this out to be any harder than it is. It doesn t matter what charts you use. They are all pretty well the same. Five minute price line with two moving averages on close. Don t use bars or candles for this system. They will shake you out of a trade too early and cause you to make decisions on emotional triggers. When applying the ForexGrail system, use the price line.
Just use a simple line and get used to seeing it. Keeping you focused on the line and it s impartially pointing down or pointing up will let you make better trading decisions. Enter 6 pips after the crossing of the 50 line and price. This makes sure it s not just noise. It can still go down a bit once you enter. The 50 is showing direction and the 7 will be marking an exit for you once things get going. The picture below shows my entry after meter confirmations on the morning I am writing this.
I know it will be like weaning a heroin addict to get you to toss them, but you must not use candles or bars for this system to work properly. Keep this as simple as possible in the beginning. Make yourself stick to the rules. Get used to making trades with your platform in demo. Absolutely do not start using real money until you have proven to yourself that the system works and you have clearly assessed and discussed the risks involved. Once you get a live trading account fills may not be as good so if you can t make money with a demo, then you will not make money with a live account either.
We are trading the difference in price between currencies. Charts extract the difference in price between two separate and quite distinct currencies and then display the result. The line going up on any forex chart means a rising price for the currency that has first position in the pair.
Understanding that we are buying strength or selling weakness of individual currencies, not pairs, is vital to foreign exchange traders. Come on. Pro s talk about individual currencies since they understand each is an entity of its own. There are countries and economics behind each one.
Drill it into your head to think in terms of individual currencies. The meter is perfect for reinforcing the idea that each currency has unique characteristics depending on factors at home and abroad. Strength and weakness is directly tied to price.
Price should reflect absolute strength or weakness. The US dollar is gaining strength. But there is a crucial element involved in the ForexGrail trading system. In the first statement where I said the US dollar is gaining strength when the line goes 47 P a g e 48 down, I could have said that the Euro is losing strength. Both are correct. For all I know by watching one chart, the US could be weak or it could be strong or the Euro is weaker.
I don t even know if either currency is doing anything at all without looking at other currencies that may be going strong and weak while pulling this pair along. When you give currency trading some deep thought, you have to admit that in essence, the entire market symbolizes strength and weakness. The ForexGrail system understands what makes currencies work.
Ask any banker. The currency market trends. Trending among currencies is a characteristic acknowledged by all foreign exchange experts. All currencies trend at different times. If you are using a small account with a derivatives only broker, this is your survival tip of the day: You must enter the market with a steady trend that the market maker must eventually follow.
Make your entry following the trend of the real currency market, the same one the broker must follow or lose clients. The idea behind the ForexGrail system is to get in the habit of making a trade with the trend, not the wave within the trend. The true trend.
If you follow the rules correctly, there will be times the market seems to be going against you when in fact, it didn t. You got caught on part of a wave. Do not pick a volatile time to enter. Charts and platform prices often differ. Make sure to look at the prices on your trading platform before making a market order trade.
It would be a ring toss trading with just two simple averages. More is needed. Let s dissect what the moving averages tell us before going on. The two moving averages tell us where to enter and where to exit trades based on a simple idea. The tool I am talking about is the currency strength chart. It tells you what all the other currencies are doing in relation to others. You can get fancy later, just follow the simple system first. It will alert you to the pairs you should be looking at in more detail.
You can alternatively look at all the pair charts if you have multiple monitors. The currency chart sorts out the strong from the weak. The system will require you to watch the trends as they develop for at least an hour after the European, Asia, or New York openings to make sure of a direction to hop onto. It is precisely the tool you need in order to determine when the time is right for making a trade.
The ForexGrail system, takes the work out of looking at more than two dozen charts to see which currencies are weak and strong. You will need to bring up the individual charts for your currency pair choice and fine tune things. You may find some things repeated. This is a very simple system but several things need to be said several times to show importance. Remember I told you about the ring toss using just two simple moving averages on their own?
They can t do much more than tell us during any particular moment in time, when a trend seems to be developing among the common forex pairs. They are very good at letting us see where the trends are Here is how I find the best currencies to trade; 50 P a g e 51 You must take all emotion out of your selection of a currency.
Our objective as forex traders is to extract the maximum profit from a deviation between two currencies. We trade the spread. It shouldn t matter what currency you use to make money. Sticking with a particular pair or choosing one currency over another based on familiarity is dangerous.
Keep your emotional attachment to a particular currency for shopping. Let s get on to finding a pair to trade. Wanting to know how your chosen currencies are doing in their interaction with other currency pairs prior to opening a trade is just plain common sense isn t it.
In the ForexGrail system, you must trade the currencies that are moving away, or apart from each other at the fast rate. This means your first objective is to find one currency that is trending towards strength, and match it with a currency that is trending towards weakness. Makes sense eh?
We make our money on spread. The difference in price between currencies. New York trading session will usually move the US dollar around faster than the others. If you are trading any of the time periods; Europe, Asia or New York 52 Watch which ones are most active and consistent for an hour after the opening.
You can do this by looking at a wide range of charts if you happen to have several monitors or want to take the time to calculate how each of the currencies involved interact with your selections. Take a look at this picture. It shows the heart of the ForexGrail system. It is just a simple tool, but it pulls everything together. It takes the work out of watching multiple screens to find strength and weakness.
The currency strength chart is simple in operation. It looks at all pairs and uses various weighting calculations to find out how, relative to the others, a particular currency is doing. It measures individual currency strengths by making comparisons with how that currency interacts with others. Strength or weakness is not clear using one chart. In order for you to figure out if the currency is strong, you have to open other charts and see if it shows strength against other currencies.
The currency strength chart tells you at a glance which currencies are moving and which charts you should open to take a look. The chart allows us to narrow down a pair of currencies to trade. Many brokers have various pairs available to trade. This will be my first chart open after seeing the numbers on the strength chart. First glance tells me the trend is definitely in place but the trigger happened a few hours ago.
In the picture last page, the blue line is my 7 and the pink is 50 SMA. It doesn t look like the fifty and 7 will be close to each other for some time so I will look at my next candidate since this potential trade could be exhausted. I am looking for a small piece of momentum in spread just after it starts and before it s exhausted.
These should alert you to a developing trend only. They could change. You must watch what the currencies are doing for a time to get a fix on their true strength or weakness. You are looking at the meter to provide you with some clues and save time watching all the pairs. How will you know if the strength is developing or the weakness is real? Look at the 7 and 50 moving average as guides.
I like the one hour view of the 50 SMA to be sure of the long term trend. Going back to the 5 minute view and the general trend on other currencies, I can time my entry on the upward or downward, crossing of the 50SMA. I am not looking to get in as soon as the trend becomes directional.
You will find that many times it isn t possible or preferable to get in on the first part of a trend. Waiting and biting your nails if necessary, until the exact moment and taking a little bite of the apple is the way to consistently make profits. Give your trade some time to work.
Don t set ten pip stops with the broker. My hard stops would be more than most people are comfortable with but make yours at least three times the amount you are going to use for a mental stop. Keep stops above 20 with your demo until you get a feel for where to place them. It takes a bit of ups and down for the trade to work. Take a safe piece of the move.
They are too small. A broker makes money on filling orders. Either way. A stop is an order. Keep the stops high on your demo so they can show you what s best for you when going live. I am always looking for the beginning of a trend. I am always watching for the ones that have already begun for the morning or session.
Sometimes the lights turning red and blue on the meter during the beginning of my trading day may be showing peaks and not trends. I want to see steadily rising numbers for my strong choice. High numbers are not what I want to see. I want to see a climbing number or declining number. Just picking the highest number isn t the idea. You want to watch the trends developing and moving towards weakness or strength, You are trading the spread between currencies. This means you want to see as great a difference between two currencies as possible at an increasing rate of change.
That s the profit. Don t get attached to one special pair. Sure, if the signals are there fine, but look around. Experiment with how many pips you can get with other pairs and how much that translates to in your home currency. Once you have identified the potential candidates for your trade, you need to get into the market as soon as possible or your increasing spread between the currencies begins to slow down.
Your personal risk factor is the only thing that will determine how much money you make. The ForexGrail system can be used in any time period and under most market conditions Even economic reports. It is you who will have to see the trend beginning and take advantage of it by selecting a good counter currency. It s not hard to do using a few simple instructions. To summarize; You need the currency chart in combination with the two SMA s. On the next page, let s finish this trade.
The 7 is being hit and it is time to exit. Anchors are places where prices, on a five minute chart, have a tendency to dawdle. This concept was developed several years ago when a friend and I would make guesses on where the price was most likely to rest, before moving on. This discovery took a few years to refine but I found that using the OandaFX 5 minute close price chart, I could clearly see the places where price seemed to be magnetically attracted by using a horizontal line.
I have them marked as anchor bands. I do not try to predict anything more than a likely place where price will most likely be drawn to. Anchors are a fuzzy concept and very difficult to explain without showing you in real time how they work. As the image below shows, I begin by counting the amount of times the price seems to hit an area.
Background Accustrength was created by Tom Yeomans, who is well known in the online forex trading community. Tom used to run an online chat forex trading service back in His primary strategy back then was trading economic news events, mostly using fundamental news event data and currency strength measurements to guide his trading decisions. His early currency strength meter was a very basic spreadsheet that linked to an MT4 terminal. Since then he has greatly refined his strategy, and used his extensive experience to create a standalone Windows PC application called Accustrength.
This is different to many currency strength meter products that use a MT4 trading terminal as their data feed. The advantages of having a dedicated data feed: No need to have an MT4 trading terminal running at the same time. A dedicated data feed is generally more reliable and stable than MT4 broker data feeds, especially MT4 demo accounts which are notoriously unreliable. Faster data updates and with less latency.
Highly Accurate Currency Strength Meter Data Having accurate currency strength data is probably the most important feature of any currency strength product. There are an enormous number of currency strength products on the market, but few that actually calculate currency strength data accurately. Without accurate data, a currency strength meter is pretty much useless.
Accustrength is one of the most accurate currency strength meters on the market.
Personal Finance and Spreadsheets Dan Bricklin and Bob Frankston created the first financial spreadsheet program in Since then, the technology has been adopted by businesses, banks, and governments. All of these entities use spreadsheets for creating budgets, tracking spending, and creating reports for their financial matters. Much like a business, a person benefits from using a spreadsheet for their finances because it places all the information they need in one easy-to-read place.
Spreadsheets help you to see how much income you have, as well as how your money is spent. That way, you can budget your money appropriately for your needs. If you're trying to maintain a realistic budget, the Consumer Financial Protection Bureau CFPB recommends creating a budget spreadsheet or worksheet to track your income and expenses.
Note While not a spreadsheet, the CFPB offers a budgeting worksheet to help you plan for your financial needs. The simplicity and number of available, premade spreadsheets make them easy to use. Many of the financial applications offered currently transfer financial data into spreadsheets for use also.
While it is possible to create a spreadsheet yourself to help you with your financial planning, it is not necessary. Many sources are available for you to use, and they have already done most of the work for you. Note It might be easier for you to start with a pre-made financial spreadsheet and then expand it when you need to. You'll find spreadsheets for monthly and yearly household and personal budgets, Christmas gift budgets, business budgets, wedding budgets, and the Money Management Spreadsheet for Kids.
For those who want to track expenses against a budget, the Money Management Template is an excellent Excel or Calc spreadsheet that does not require the use of macros. Many of these spreadsheets include a demo video or tutorial, making the option more attractive for those not familiar with spreadsheets.
The Box Budget Spreadsheet breaks down each month into four weeks, giving you an easy visual of your expenses, savings, and income. These spreadsheets work with Microsoft Excel with macros enabled, and some work with OpenOffice Calc free. It's Your Money offers an assortment of free or low-cost personal money management spreadsheets. PearBudget Free Budget Spreadsheet PearBudget is a free, comprehensive household monthly finance spreadsheet that can be downloaded and used with Microsoft Excel or any other spreadsheet software that supports Excel files.
An analysis tab analyzes expenses by different categories and shows the difference between actual and budgeted spending. PearBudget also offers an updated online version of the budget spreadsheet that does not require a download and is available for a free day trial. Google Sheets Use the Google docs template gallery for Google Sheets to find some great options for budgets.
Monthly budget: A very simple budget spreadsheet using a percentage of income for budgeting, designed for those with non-complicated scenarios. Yearly budget template: A detailed yearly and monthly budget tracking spreadsheet. It gives you the flexibility to use the Receipts form or not, and you could add your own features into the form or spreadsheet however you see fit. Learn more here. Also see the Bi-Weekly Budget Worksheet by Smartsheet, which is functionally identical to the previous one except that it is designed for bi-weekly budgeting.
This super-simple budget calculator will quickly show you how much you can afford to spend and save with just a few clicks. However, it also works great with the free version of the Foundation Template included in the link below.
Sep 05, · Purchased item: Excel Bill Tracker Spreadsheet | Bill Calendar Spreadsheet. Katherine Jennings Feb 16, Spreadsheet has SEVERE LAG and no embedded formulas to simplify usage. No, it’s not my brand new Laptop that’s lagging, it’s the way the sheet was created. Simply put, it’s terrible. ForexGrail - Introduction The idea behind the currency strength meter is to show the isolated condition of an individual currency instead of a pair. The spreadsheet version displays a line representing the strength of each currency. The Bill Payment Tracker Spreadsheet is designed to keep you informed about your upcoming bill payments. Benefits of using this sheet include: Easy setup. See a chronological list of your next 15 bills to be paid. Easily confirm which bills have been already paid. See a detailed bill history data for a selected payee.