How to Determine Buy or Sell Week and Misc Forecast Questions

First of all I’m a newbie both to Forex Trading and the BabyPips forum. This is actually my first post here.

I have a demo account and even though I have a long journey before I’m ready to trade with real money I want to start experimenting while I learn.

So here is the deal.

I’m getting my pivot points for next week (11.24.08) from dailyfx.

So far I have the highs and the lows. Now I need to be able to determine whether it’s going to be a buy week or a sell week and I have no idea how to determine that quite yet.

I was wondering if you guys could help me out with the following questions I have.

  1. Is there anyway to determine buy/sell week by looking at those pivot points from dailyfx? If so how do I do it.

  2. Is there a site that provides that information (buy or sell week) that you would recommend me checking out? What are some options?

  3. I found this weekly forecast: if you look at the graph does it mean that it’s going to be a buy week for USD/YEN and GBP/USD and SELL week for the rest of the currency pairs?

  4. Are there any FREE and paid weekly forecast websites that combine both technical and fundamental analysis witch are highly recommended and have a good record?

Any help will be strongly appreciated.

Sebastian

Oh Sebastian

FREE site that will tell you whether to buy or sell next week ? Thats like the hooker with a heart of gold !

Let us stick with your concept of having a LOT to learn and see where we can take it, because a LOT, will take you a year or so before it makes sense !

first get yourself the custom indicator “SHI_Channel_true” and then the custom indicator “support and resistance”, making SURE the “and” is in there – accept no substitutes !

Learn where the Fibonacci tool is on your MT4 platform and learn how to use it — it will guide you during retraces away from the trend intraday.

get yourself the 10/3/3 and 5/3/3 stochastic indicators and learn the rules — to make it simpler, buy or sell NOTHING until the stoch breaks the 50 mark (this is a bit novicessy, but you aint a master of the universe just yet !

as you progress, youll find that the accumulation/distribution indicator is a nice one to tell you where the currency is heading, and youll decide if you wish to use the MACD and/or the CCI.

this should fill up your time for a while, and you just might start making demo profits as you learn how to use the above.

[B]ONE IMPORTANT THING — ONLY open a demo with the amount you would open a REAL account, because being given 50K to play with gives you a cushion that doesnt exist with a $500 account, so ya better learn the honest way.[/B]

I have a particular pet theory and that is most traders are men, and we know men dont read instructions and bull their way through, and thats why there are so many broken and bloody would be traders lying by the side of the road !

Dont be afraid to blow your demo account and start over — thats what the DEMO is for ---- of course, if you start with $500 and in two weeks are up to $50K, kindly send me an email and we can discuss your further life !

LOL

enjoy and trade well

mp