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Yes, you can really make big money trading the currency markets with a few insider secrets. Now we all know it's easy to make money trading forex if you have lots of money to start with, a lot of Read more...

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Forex-trading-pivot-points
By Timothy Rohrer
Copyright 2006 Timothy Rohrer

Many traders and novices are looking to make money in Forex, however only 5% of Forex traders ever make a dime. The question then becomes what are the 5% that are making money in Forex doing that the other 95% are not.

The truth is anyone can make money in Forex as long as they educate themselves and learn how the market reacts. Trades can use key support and resistance zones for entry and exits within the market, however there is another key component that will help determine price movement and that is pivot points. Pivot points help determine where price is going as well as reversals in trends.

If one knew the range parameters used by floor traders then one may have a handle on significant areas where off floor and position traders may take over the market. Determining key support and resistance zones coupled with pivot points is essential to forecasting price movement in the Forex. Even if you are not a day trader, knowing the key pivot point, support and resistance points can help the short term trader and intermediate positional trader to identify potential entry points and stop loss levels.

Getting into a trade near key support and resistance zones is a double edged sword. Pivot points can be seen as both dangerous and a great opportunity to enter a trade. Stop orders to enter at pivot points are readily whipsawed by the local market and noise, meaning price may bounce up and down around pivot points before heading in one direction. The question then becomes how are

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<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.bestsyndication.com/?q=20120206_futures_forex_signals_gold_euro_dollar_yen.htm" style="font-size:1.2em">Gold Prices Dropped while Silver was Unchanged ? USD Up vs JPY but Down vs EUR <b>...</b></a> <br> <span style="color:#888888;">Best Syndication</span> - <span style="white-space:nowrap">12 minutes ago </span> <div style="width:80%;">(Best Syndication News) Brent crude oil advanced today as tensions between Iran and the United States continued to fester (see forex and commodities charts below).</div> </div>
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Forex Trading and Currency Exchange Rates ? USD/JPY rises as EUR/USD drops
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British Pound Sterling | Currency News Views and Outlook
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Currency Futures: Forex Speculators cut US Dollar bets. Aussie, Kiwi &amp; Peso <b>...</b>
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<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.bestsyndication.com/?q=20120131_forex_trading_usd_eur_jpy_gold_silver_prices.htm" style="font-size:1.2em">Gold Prices Climb as Silver Slips? USD Higher vs EUR but Lower vs JPY ? Brent <b>...</b></a> <br> <span style="color:#888888;">Best Syndication</span> - <span style="white-space:nowrap">Feb 1, 2012 </span> <div style="width:80%;">(Best Syndication News) Gold and silver prices moved in opposite directions Tuesday as traders looked for safe-havens (see forex and futures charts below).</div> </div>
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<div style="padding:0px; margin-bottom:1.5em;"> <a href="http://www.euro-exchangerate.com/british-pound-to-euro-31011325.html" style="font-size:1.2em">British Pound Sterling: Currency finds GfK consumer confidence data of no use <b>...</b></a> <br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Jan 31, 2012 </span> <div style="width:80%;">This morning the pound euro pair continues to be driven by events in the eurozone as domestic UK data fails to make an impact. British Pound Sterling (GBP) in US Dollar (USD): GBPUSD is 0.37% higher at 1.5770.</div> <a href="http://www.economy-news.co.uk/british-pound-sterling/1078-quantitative-easing-in-february-3444354334-and-the-pound">British Pound Sterling: Currency fins support vs EUR and USD as Miles says QE <b>...</b></a> - <span style="color:#888888">Economy News</span><br> </div>
British Pound Sterling: Currency to fall further against US Dollar says <b>...</b>
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pivot points used to determine a good entry and exit point in the market?

Pivot points can be used in two ways. The first way is for determining overall market trend: if the pivot point price is broken in an upward movement, then the market is bullish, and vice versa. Keep in mind, however, that pivot points are short-term trend indicators, useful for only one day until they need to be recalculated. The second method is to use pivot point price levels to enter and exit the markets. For example, a trader might put in a limit order to buy 100 shares if the price breaks a resistance level. Alternatively, a trader might set a stop-loss for his active trade if a support level is broken.

Calculating pivot points is not an easy task. There are some really great training courses online that will train you on how to trade using pivot points as well as calculate them for you and teach you how to use them in a real-time.

Article Source: http://www.upublish.info

About the Author:
Timothy Rohrer
Tim Rohrer is an established Forex trader. To learn more about a system that accurately forecast price movement, visit http://www.forex-investing.us

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Short for "Foreign Exchange". Refers generally to the Foreign Exchange trading industry and/or to the currencies themselves.