I have been updating Daily the January ACD lines with some commentary that should give anybody the feel for how Mark Fishers system could be traded with Forex. Sometime each day I have taken clips of my charts from the previous day and added commentary. The intention of this is so that anybody can look back and see what the market did relating to my ACD lines, and for some the commentary can help them see whats going on more easily. I also started adding lines to represent the Pivot range, which is not part of the ACD system but a pivot system also described in The Logical Trader. The more layers of good signals and references that you use, the more your decisions will be sound.

Check it out here: Jan2008 ACD GBP/JPY

Holy smokes its been 6 months since I made an update, unfortunately my time to update here has been limited but im back for 2008! I figured I'd start with soemthing that I figured would be fun and build a visual record of Mark Fishers ACD system. The reason for this is to see over time how well the market respects the ACD lines that I draw daily. The ACD system is somewhat universal but I have found that with the Forex it works best in only certain situations. I feel the best currency to trade with this system is the very volitile GBP/JPY. Im giong to track its progress for the month of January and add a few comments here and there. As I have said this is more of a visual record than bonified technical analysis, but I will be throwing in comments as the month progresses.

Check it out here: Jan2008 ACD GBP/JPY

Managing your risk is one of the most important skills that you can work on when learning how to trade the forex. Here's a little article that should give you a few tips on how to set your risk. I've also included a spreadsheet that you can download which will help you track your daily progress quickly and easily. You can see the article here: Risk Management 101

If your looking for a no nonsense reference book to prop up beside your trade station you should check out Technical Analysis of the Financial Markets by John J. Murphy. This book contains information on many topics basic to advanced. You can read the review here: Technical Analysis of the Financial Markets

The Logical Trader by Mark Fisher is a great book detailing Fishers time tested ACD system that is widely used today. The system was not developed specifically for Forex but the system is extremely relevant in any market where there is sufficient volatility. Check the book out, read my review: The Logical Trader