Cowabunga System Week 7 Results

After last week's extremely dovish announcements by the European Central Bank (ECB), this week we'll see the response of United States Federal Reserve on Wednesday.

This FOMC (Federal Open Market Committee) meeting will be accompanied by a press conference, so we can certainly expect increased volatility levels in the middle of the week.

Before then, few markets will be expected to move​ as everyone awaits the Fed's interest rate decision.

So far, the Cowabunga System has produced 6 consecutive weeks of profit, with a percentage gain just shy of 20%.

Will this week be yet another winning week? Or ​will we finally see a losing one?

Read on to find out!​

Read more...

The Awesome Oscillator: Awesome or Awful?

The Awesome Oscillator measures the difference between a 5 simple moving average and a 34 simple moving average, which basically allows one to visualise the strength of a market trend.

It is represented by a two-color histogram (usually red and green), and performs a similar function to the MACD.

However, there are two crucial differences between this indicator and the MACD, which is something I'll explain in this article.

So read on.

Read more...

Is Forex trading legal in South Africa?

With a growing number of successful Forex traders in South Africa, more and more people are considering to get into the business of trading for a living.

However, unlike the running of a traditional business where the proper licenses and certifications are generally well known, many people are still unsure of the legality of retail Forex trading.

When it comes to conducting financial transactions in South Africa - especially when it involves the regular exchange of foreign currencies​ - the wise and prudent thing to do is to first find out the government's stance on the matter.

Read more...

What is the best Forex trading platform?

Choosing a Forex trading platform is one of the most personal and important decisions a trader can make.

After all, once you get used to a trading platform, it gets increasingly difficult to switch to a different one later on. With learning to trade being as challenging as it is, you don't want to be spending more time and energy getting used to a whole new platform.

So before you decide on one, it pays to take some time now to consider the features that are most important for you.

Read more...

Forex Trading Price Action: Support and Resistance

Most Forex traders quickly come to realise that trading price action is most profitable at major support and resistance areas.

After all, the outcome of price action in these areas is likely to determine the next market trend, so it makes sense to start taking positions near them.

However, most people don’t do this correctly. They simply try to enter on a bounce or a breakout, which is an ineffective way to trade off support and resistance.

In fact, there’s a much better to trade Forex price action at support and resistance areas, and in this article I’ll show you how.

Read more...

Where is my investor password in MT4?

The MetaTrader 4 (MT4) platform utilises two passwords: a master password and an investor password.

The master password is the one you use to login to the platform and trade with. For most intents and purposes, this is the MT4 password that most traders remember.

The investor password however is not commonly used so people tend to ignore and forget about it.

However, there may be some occasions where you’ll need to retrieve the investor password.

Read more...