Forex Futures Trading

How do I identify potential forex spread betting opportunities, i.e. what fundamental/technical details......?

I am 18 years old have been practicing and reading about spread betting for months now and I've discovered I'm best at trading currencies with it.

What I do is look at the current trend in a certain time period, then look at Yahoo finance and see if the trend indicates the direction that I want to trade in based on fundamental news, and also on price quotes such as up; green+%, or down; red-% to make my trading decisions.

What I would like to know is if this is the best way to do my spread betting on currencies, and if/if not, is there a better way to do it?

The most popular and useful indicator is the Simple Moving Average. I'm sure you have heard that the trend is your friend and the simple moving averages can be quite good in determining when a forex trend has been established. You can then jump on it and be sure of a much greater than evens chance of a profitable trade. Use your charts to test various periods of simple moving averages and their effectiveness in confirming trends in the past.

If you find that the most reliable periods are 10 days and 60 days on a daily chart, then if, for example, the 10 day simple moving average crosses the 60 day simple moving average going up then it would be a strong signal that an upwards trend was establishing itself.

Forex: Currency Quote

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Attacking Currency Trends By Michalowski, Greg $62.13 Attack the Currency Trend will provide traders with a stepbystep guide for anticipating, entering, and staying with trends in the foreign exchange market. Top forex expert Greg Michalowski begins the book by explaining the attributes of successful traders, and how traders should set themselves up for success by drafting an explicit mission statement and game plan. From there, he provides tools and techniques for traders to read the markets and identify when a market is in a trend. Michalowski shows traders how to enter an emerging trend, how to manage the position, and how to exit the position most effectively. He advocates using fairly simple technical tools: moving averages, trendlines, and Fibonacci levels. The important thing is to use these tools to get a feel for trends, and then to move aggressively into a position once the trend is identified and stick with the trend through its duration. Author: Michalowski, Greg Series Title: Wiley Trading Subtitle: How to Anticipate and Trade Big Moves in the Forex Market Publication Date: 2011/03/29 Number of Pages: 287 Binding Type: Hardcover Language: English Depth: 1.25 Width: 6.00 Height: 9.00

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Mastering the Currency Market By Norris, Jay/ Gaskill, Al/ Bell, Teresa $39.81 Provides intermediate to advanced traders with foreign exchange techniques and strategies regardless of the market, including longrange planning, risk management, countertrending lowvolatility markets and hedging against fluctuations in currency values. Author: Norris, Jay/ Gaskill, Al/ Bell, Teresa Subtitle: Forex Strategies for High and LowVolatility Markets Publication Date: 2009/11/09 Number of Pages: 305 Binding Type: Hardcover Language: English Depth: 1.00 Width: 6.50 Height: 9.75

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