XM Forex Penguin
XM Forex Penguin

How Do You Demo Test a Trading Method?

In a recent post titled “How Do You Backtest a Trading Method?”, we explained how you can conduct a backtest once you find a trading system you like for forex. After completing a successful backtest, you might think you are ready to trade. But there is still one more step before you go live with … Read more

Is There a Holy Grail of Forex Methods?

Sometimes, you will hear people talking about the “holy grail” of forex trading. In theory, the “holy grail” is a forex system that is so foolproof, so consistent, that it is just about perfect. Some people may define the holy grail as a system that lets you win 100% of the time. Others may simply … Read more

How Do You Backtest a Trading Method?

In our post “Where Can You Find a Forex Trading System?”, we gave you some tips for how you can find or build a forex trading method. The next step after choosing a trading system is to backtest it. If you have never conducted a backtest before, you might not be sure what this process … Read more

Where Can You Find a Forex Trading System?

In the post “The 3 “M”s of Forex : Method, Money, Mental,” we discussed the importance of finding a trading method or system for forex. This is simply a set of rules that helps you enter and exit trades profitably. It can take the form of fundamental analysis, technical analysis, or price action. As a … Read more

10 Common Price Action Patterns

If you are looking for an elegant way to trade with minimal noise on your charts, you cannot beat price action. In this guide, we are going to introduce you to a number of candlestick patterns you can use in your trading. If you are not familiar with price action, you should get started by … Read more

What is Price Action?

Most people think of fundamental analysis and technical analysis when they consider methods they can use for trading forex. But there is a third option as well, called price action. In this post, we will explain to you what price action is and how it works. We will introduce you to some common price patterns, … Read more

What is Technical Analysis?

What is Technical Analysis

Trading forex successfully requires the 3 “Ms”: mental, money management, and method. For method, you can choose between a system that uses fundamental analysis, technical analysis, or price action. In some cases, you might combine aspects of more than one of these types of analysis. For our introduction to fundamental analysis, please see our post, … Read more

What is Fundamental Analysis

What is Fundamental Analysis

If you are going to profitably trade forex, you need to focus on the 3 “Ms” of forex: mental, money management, and method. When it comes to method, most of your options fall neatly into three different categories: fundamental analysis, technical analysis and price action. In this article, we are going to introduce you to … Read more

Top 8 Forex Newbie Mistakes

Top 8 Forex Newbie Mistakes

If you are just starting out with forex trading, you can do yourself a big favor by simply avoiding making common novice trading mistakes. In this post, we go over some of those mistakes in detail. That way, you can navigate around these potential pitfalls, saving time and money on your trading journey. For your … Read more