Forex Trading Training Takes you to the Bank Quicker Than any Other Path to Financial Independence
In today's world, where all of us are starting to wonder where our next pay check is going to come from. I know many of you have come to the conclusion it is time to stop depending on companies and other people for your financial welfare, but to find a way to only depend on yourself. Below I am going to discuss a proven extremely high quality Forex trading training program that get you started quickly and inexpensively down the road to financial freedom.
If you want to start making money quickly, don't have a lot of money to invest in a Forex course and really don't have much time to spend learning currency trading I have the class for you. It is very simple to understand and easy to start trading with. I have used this method for years after I first discovered the program.
The great thing about this is you only follow what we in the industry call a, "Forex Indicator." If it tells you to buy, you buy. If it tells you to short, you short. Don't worry if you don't know what short means, they will teach you in the class, it is easy. Another great aspect to this program is that it is very low risk. Don't worry, low risk does not mean low rewards.
This is a currency trading method called, "Forex Scalping." This means you get in and out of the market very quickly trying to make a 5% profit on each trade. The winning percentage is very high, but of course it is not perfect and you do have loses. But, those loses are small and don't hurt you too much.
It is possible, in fact it is probable you will double you initial investment every fifteen days with this program. This is one of, if not the most popular training class on the internet with literally thousands of former students that swear by the program. They love it because it has consistently made them money for years in the markets and it does not matter what the market conditions are at any given time.
I am sure you have heard enough already and want to know the name of the Forex trading training program already. It is called Forex Made E-Z and was developed by a retired pilot looking for something to do with his spare time. Since it was discovered and designed by a lay person, this is one of the principle reasons it so uncomplicated to make money with. If you have time, please fell free to check out there web site.
วันเสาร์ที่ 27 ธันวาคม พ.ศ. 2551
Forex Mentoring Programs are the Best way to Gain a Comprehensive Knowledge of the Market
Forex Mentoring Programs are the Best way to Gain a Comprehensive Knowledge of the Market
If you are looking for long term success investing in the Foreign Exchange Markets (Forex or FX,) then possessing an extremely high level understand of complex trading strategies is a must. Without question, the best way to learn these trading techniques is in a Forex mentoring program. In this article I will discuss what I believe are the three best on the market today.
The first one we will start with is called Straight Forex. All you need to know about this course is that this is where banks, brokerage firms and other large international financial institutions that invest and trade in the currency markets send there employees for training. Enough said, that is as strong of an endorsement that is required. They have a FREE class you can sign up for before you make any financial commitment.
The next class we will talk about is called The Forex Brotherhood. I have been a member here since it opened. Obviously as a professional Forex trader for over ten years, I really don't require too much additional training. The reason I am still a member, is because the professional Forex trader that instructs the class allows you to trade in real time the exact same portfolio as he is investing in. This is a "NO BRAINER." I don't have to think at all and make thousands each month. I just do what he does, it does not get any easier than that.
Obviously, when you leave the program you will have an exceptional understanding of the FX markets. I don't know why anybody would leave, when all you have to do is pay the monthly fee and trade his portfolio and you make fifty times what the fee is.
The final Forex course I am going to mention is called Fap Winner. This program is a little different than the other two, because it will be structured around your personality and what individualized trading style your likely to develop and have success with. If you have not traded before, I will attempt to explain this in greater detail.
If in life you are a risk taker, then almost assuredly your trading style will be one of high risk high rewards. Where as, if you are a conservative person by nature, you will want a low risk system that will produce consistent profits. Both trading techniques produce huge profits if perfected and used properly, it just really depends on who you are to begin with.
These three Forex mentoring programs are the best there are and will all help you learn Forex trading at its highest level. After that, it is up too you, as to how much money you make. Because, when you leave these courses you surly will be prepared to be a very profitable trader.
If you are looking for long term success investing in the Foreign Exchange Markets (Forex or FX,) then possessing an extremely high level understand of complex trading strategies is a must. Without question, the best way to learn these trading techniques is in a Forex mentoring program. In this article I will discuss what I believe are the three best on the market today.
The first one we will start with is called Straight Forex. All you need to know about this course is that this is where banks, brokerage firms and other large international financial institutions that invest and trade in the currency markets send there employees for training. Enough said, that is as strong of an endorsement that is required. They have a FREE class you can sign up for before you make any financial commitment.
The next class we will talk about is called The Forex Brotherhood. I have been a member here since it opened. Obviously as a professional Forex trader for over ten years, I really don't require too much additional training. The reason I am still a member, is because the professional Forex trader that instructs the class allows you to trade in real time the exact same portfolio as he is investing in. This is a "NO BRAINER." I don't have to think at all and make thousands each month. I just do what he does, it does not get any easier than that.
Obviously, when you leave the program you will have an exceptional understanding of the FX markets. I don't know why anybody would leave, when all you have to do is pay the monthly fee and trade his portfolio and you make fifty times what the fee is.
The final Forex course I am going to mention is called Fap Winner. This program is a little different than the other two, because it will be structured around your personality and what individualized trading style your likely to develop and have success with. If you have not traded before, I will attempt to explain this in greater detail.
If in life you are a risk taker, then almost assuredly your trading style will be one of high risk high rewards. Where as, if you are a conservative person by nature, you will want a low risk system that will produce consistent profits. Both trading techniques produce huge profits if perfected and used properly, it just really depends on who you are to begin with.
These three Forex mentoring programs are the best there are and will all help you learn Forex trading at its highest level. After that, it is up too you, as to how much money you make. Because, when you leave these courses you surly will be prepared to be a very profitable trader.
Be Fully Equipped to Make Money with Forex Trading
Be Fully Equipped to Make Money with Forex Trading
You can make money with Forex Trading if you are fully equipped with the knowledge and skills required in Forex trading. This is far from gambling and you need to be aware about investments before you start trading. Online currency trading is done through Forex trading. This is a popular way for investors to broaden their financial perspectives. However, be prepared on the race to the top since the competition is intense in online currency trading.
You can make money with Forex Trading if you are committed to online currency trading since online currency trading is considered the future of Forex trading. This is also available to everyone in the world today as long as they can invest. The Forex trading market has become the biggest financial market in the world while online currency trading is one of the fastest growing markets.
Forex trading is based primarily on the web, and as such you can make do with online currency trading services 24 hours a day. You can start getting the hang of Forex trading by using a demo with a Forex broker for 30 days. There are Forex brokers who are willing to provide training on their advanced online currency trading system.
There are also companies which offer Forex trading software along with foreign currency exchange services which emphasize Forex trading strategies.
There are ways through which you can become a well equipped Forex trader so that you can make money with Forex Trading. You can become so by developing your own personal strategy, setting up an account with a Forex broker, and learning more about margin accounts.
You should develop your own personal trading strategy to make money with Forex Trading. This Forex trading strategy should not be generic and should involve your own personal master plan. Be able to assume certain risks but to be safe and sure you should think of your plan well.
Before you start in Forex trading, it is necessary for you to set up your account with a Forex broker. Choose from the best of the available Forex brokers online. Research on those who require fees which fit your budget and most especially those who are very experienced and skillful in Forex trading.
It is essential to learn about margin accounts because they are the lifeblood of Forex trading. Make sure you understand the Forex broker’s margin terms before you set up an account. You need to be aware of margin requirements and calculations.
Knowing what investment is all about, how to make money with Forex Trading and how it operates before actually conducting any trading should be considered. My blog can serve as your resources in being adept regarding Forex trading. Come and visit my site today.
You can make money with Forex Trading if you are fully equipped with the knowledge and skills required in Forex trading. This is far from gambling and you need to be aware about investments before you start trading. Online currency trading is done through Forex trading. This is a popular way for investors to broaden their financial perspectives. However, be prepared on the race to the top since the competition is intense in online currency trading.
You can make money with Forex Trading if you are committed to online currency trading since online currency trading is considered the future of Forex trading. This is also available to everyone in the world today as long as they can invest. The Forex trading market has become the biggest financial market in the world while online currency trading is one of the fastest growing markets.
Forex trading is based primarily on the web, and as such you can make do with online currency trading services 24 hours a day. You can start getting the hang of Forex trading by using a demo with a Forex broker for 30 days. There are Forex brokers who are willing to provide training on their advanced online currency trading system.
There are also companies which offer Forex trading software along with foreign currency exchange services which emphasize Forex trading strategies.
There are ways through which you can become a well equipped Forex trader so that you can make money with Forex Trading. You can become so by developing your own personal strategy, setting up an account with a Forex broker, and learning more about margin accounts.
You should develop your own personal trading strategy to make money with Forex Trading. This Forex trading strategy should not be generic and should involve your own personal master plan. Be able to assume certain risks but to be safe and sure you should think of your plan well.
Before you start in Forex trading, it is necessary for you to set up your account with a Forex broker. Choose from the best of the available Forex brokers online. Research on those who require fees which fit your budget and most especially those who are very experienced and skillful in Forex trading.
It is essential to learn about margin accounts because they are the lifeblood of Forex trading. Make sure you understand the Forex broker’s margin terms before you set up an account. You need to be aware of margin requirements and calculations.
Knowing what investment is all about, how to make money with Forex Trading and how it operates before actually conducting any trading should be considered. My blog can serve as your resources in being adept regarding Forex trading. Come and visit my site today.
Online Forex Trading - Beginners Guide
Online Forex Trading - Beginners Guide
When it comes to forex trading, understanding the terminology and the forex trading strategies before you begin is vital. There are many web based companies that provide online forex trading tutorials that revolve around real time forex trading. Using a forex tutorial will give you the beginner knowledge you need to take part in trading forex.
After you have completed your forex tutorial there are some basic forex trading tips that all beginners will find useful. The most important thing to remember when trading forex and the most important forex trading strategy is to remember to always place stop loss orders. Using this strategy in your online forex trading will help to prevent and limit your losses.
The next important step for online forex trading is to take profit orders at the same time as placing your stop loss orders. This is done by using the OCO order function that is available with most online forex trading systems. Take profit orders work on the same basis as the stop loss orders and help to eliminate the risk of locking into a profit too early.
Another beginner’s tip is to use a positive risk/reward ratio. This means that you should choose the amount you are willing to make on your forex trade beforehand and it should be more than or equal to the amount that you are willing to loose. This tip is essential if you want to be successful in your forex trading.
It is important for any forex trading beginner to note that successful online forex trading takes patience and is a long term investment. It takes controlled forex trading along with discipline and patience to make your forex trading profitable. Continued research and forex tutorials and guides will help you to learn more and remember as with all successful ventures; knowledge equals power.
When it comes to forex trading, understanding the terminology and the forex trading strategies before you begin is vital. There are many web based companies that provide online forex trading tutorials that revolve around real time forex trading. Using a forex tutorial will give you the beginner knowledge you need to take part in trading forex.
After you have completed your forex tutorial there are some basic forex trading tips that all beginners will find useful. The most important thing to remember when trading forex and the most important forex trading strategy is to remember to always place stop loss orders. Using this strategy in your online forex trading will help to prevent and limit your losses.
The next important step for online forex trading is to take profit orders at the same time as placing your stop loss orders. This is done by using the OCO order function that is available with most online forex trading systems. Take profit orders work on the same basis as the stop loss orders and help to eliminate the risk of locking into a profit too early.
Another beginner’s tip is to use a positive risk/reward ratio. This means that you should choose the amount you are willing to make on your forex trade beforehand and it should be more than or equal to the amount that you are willing to loose. This tip is essential if you want to be successful in your forex trading.
It is important for any forex trading beginner to note that successful online forex trading takes patience and is a long term investment. It takes controlled forex trading along with discipline and patience to make your forex trading profitable. Continued research and forex tutorials and guides will help you to learn more and remember as with all successful ventures; knowledge equals power.
Online Forex Trading Strategies - Key to Success
Online Forex Trading Strategies - Key to Success
Online Forex trading strategies represents the chief key to successful forex trading or online exchange trading. An understanding of these online forex trading strategies can stand for the distinction among profit and loss and it is as a result very important that you completely know the strategies that are usually used in forex trading.
Forex trading is especially different from trading with stocks and using online forex trading strategies would certainly give you more benefits and assist you understand even superior profits in the short term investments. There are a huge variety of online forex trading strategies accessible to investors and one of the most helpful from these online forex trading strategies is a strategy acknowledged as leverage.
Leverage is a forex trading strategy that is intended to permit online currency traders to advantage of more funds than are actually put down and by making use of this forex trading strategy you could certainly make the most of the forex trading benefits. Using this online strategy you could make the most of as much as 100 times the sum in your deposit account against any other forex trade which would make support higher yielding dealings even easier and therefore permitting improved results in your online forex trading. The leverage online forex trading strategy is commonly used on an accepted basis and permits investors to take benefit of short term fluctuations in forex industry.
Another universally used online forex trading strategy is recognized as the stop loss order. It is a forex trading strategy that is used to guard investors and it generates a prearranged point at which investor would not go for a trade. Using this online forex trading strategy investors are allowed to reduce losses. This plan could nevertheless, go wrong and the investor could also run the risk of stopping their online forex trading which could really go higher and however it is up to the individual forex trader to desire whether or not to follow this forex trading strategy.
All these online forex trading strategies are especially intended to help investors on getting the most from their forex trading and assist to reduce their losses. As stated earlier information of these forex trading strategies is very important if you aspire to be successful in online forex trading.
Online Forex trading strategies represents the chief key to successful forex trading or online exchange trading. An understanding of these online forex trading strategies can stand for the distinction among profit and loss and it is as a result very important that you completely know the strategies that are usually used in forex trading.
Forex trading is especially different from trading with stocks and using online forex trading strategies would certainly give you more benefits and assist you understand even superior profits in the short term investments. There are a huge variety of online forex trading strategies accessible to investors and one of the most helpful from these online forex trading strategies is a strategy acknowledged as leverage.
Leverage is a forex trading strategy that is intended to permit online currency traders to advantage of more funds than are actually put down and by making use of this forex trading strategy you could certainly make the most of the forex trading benefits. Using this online strategy you could make the most of as much as 100 times the sum in your deposit account against any other forex trade which would make support higher yielding dealings even easier and therefore permitting improved results in your online forex trading. The leverage online forex trading strategy is commonly used on an accepted basis and permits investors to take benefit of short term fluctuations in forex industry.
Another universally used online forex trading strategy is recognized as the stop loss order. It is a forex trading strategy that is used to guard investors and it generates a prearranged point at which investor would not go for a trade. Using this online forex trading strategy investors are allowed to reduce losses. This plan could nevertheless, go wrong and the investor could also run the risk of stopping their online forex trading which could really go higher and however it is up to the individual forex trader to desire whether or not to follow this forex trading strategy.
All these online forex trading strategies are especially intended to help investors on getting the most from their forex trading and assist to reduce their losses. As stated earlier information of these forex trading strategies is very important if you aspire to be successful in online forex trading.
วันอังคารที่ 23 ธันวาคม พ.ศ. 2551
Anatomy Of A Forex Currency Trade
Anatomy Of A Forex Currency Trade
When dealing with a Forex currency trade for the first time, you might feel a little overwhelmed by all of the information that you see on the screen. If this happens to you, just take a deep breath and calm down. There is nothing on the screen that is difficult to understand once you understand the syntax. While understanding the full extent of everything you see in your software package might take a bit of time, understanding the basic anatomy of a Forex trade is something that you can do within the next ten minutes.
The Forex trade begins with the entry into a position. A position is a particular point at which you stake out your Forex trade in order to see what happens with the trade at points that are carrying through from that position onwards. The anatomy of that particular Forex trade is greatly determined by the entry, and that is why the entry is important. Ultimately, the entry position consists of information regarding whether you are buying or selling from that position (a long and a short position respectively) as well as what your stop loss and take profit points will be. There may be other more complicated details that you can utilize when looking at the Forex currency trade entry position, but those are the basics.
Once you have completed the entry on a trade successfully, the motion phase of the trade begins. During the motion phase of a trade, all you have to do is sit back and watch as the Forex lines go up and down either bringing you towards the take profit point or the stop loss point, both of which you indicated in the entry position part of the trade. In fact, once you have actually entered into the trade, you do not really need to pay attention to anything that happens as the computer will automatically close the position once your stop loss or your take profit point has been reached. Some people prefer to pay attention periodically, however, as they like to jump sometimes if the trade goes squarely in the opposite direction of what they had hoped. As a novice trader, though, you should not be doing this since your reaction will mostly likely be emotional rather than experiential in nature.
Once the motion phase of the trade has been completed, the Forex trade enters into the third and final phase which is the end phase. The end phase is an instantaneous point in time when one of three things happens. The Forex trade can be closed when the value hits your take profit point, hits your stop loss point or is manually closed by you for some reason or another. Once the end phase of the Forex trade has come and gone, the entire trade is over, and it is time to start looking towards the next trading opportunity. This anatomy is the same no matter what trading strategy you use.
When dealing with a Forex currency trade for the first time, you might feel a little overwhelmed by all of the information that you see on the screen. If this happens to you, just take a deep breath and calm down. There is nothing on the screen that is difficult to understand once you understand the syntax. While understanding the full extent of everything you see in your software package might take a bit of time, understanding the basic anatomy of a Forex trade is something that you can do within the next ten minutes.
The Forex trade begins with the entry into a position. A position is a particular point at which you stake out your Forex trade in order to see what happens with the trade at points that are carrying through from that position onwards. The anatomy of that particular Forex trade is greatly determined by the entry, and that is why the entry is important. Ultimately, the entry position consists of information regarding whether you are buying or selling from that position (a long and a short position respectively) as well as what your stop loss and take profit points will be. There may be other more complicated details that you can utilize when looking at the Forex currency trade entry position, but those are the basics.
Once you have completed the entry on a trade successfully, the motion phase of the trade begins. During the motion phase of a trade, all you have to do is sit back and watch as the Forex lines go up and down either bringing you towards the take profit point or the stop loss point, both of which you indicated in the entry position part of the trade. In fact, once you have actually entered into the trade, you do not really need to pay attention to anything that happens as the computer will automatically close the position once your stop loss or your take profit point has been reached. Some people prefer to pay attention periodically, however, as they like to jump sometimes if the trade goes squarely in the opposite direction of what they had hoped. As a novice trader, though, you should not be doing this since your reaction will mostly likely be emotional rather than experiential in nature.
Once the motion phase of the trade has been completed, the Forex trade enters into the third and final phase which is the end phase. The end phase is an instantaneous point in time when one of three things happens. The Forex trade can be closed when the value hits your take profit point, hits your stop loss point or is manually closed by you for some reason or another. Once the end phase of the Forex trade has come and gone, the entire trade is over, and it is time to start looking towards the next trading opportunity. This anatomy is the same no matter what trading strategy you use.
Forex Trading Tips - Top 3 Money Management Rules to Succeed in Forex Trading
Forex Trading Tips - Top 3 Money Management Rules to Succeed in Forex Trading
Most of the people whom I have met are only interested in searching for a great forex trading system but neglected on the money management part. You could find yourself in dead end if there is a lack of discipline in following the money management rules even if you know how to trade forex successfully.
Money management is what full time and professional forex traders seen as one of the most important factor to succeed in forex trading. Below are the 3 proven techniques that forex trading experts ALWAYS practice:
1. Only Risk Maximum Of 5% of capital Per Trade
Capital Preservations are very important, it can determine whether you are able to survive in the long run in the forex market. The reason for risking only maximum of 5% is that you still have ample capital to trade even if you loose a few trades. I risk only 1% of my capital per trade.
Never put all the eggs in one basket. Although you might have forex trading signals which gives you good probability trades, but this #1 rule should form a general part of your trading system, so that you don't risk too much on a trade.
2. Have a Healthy Risk to Reward Ratio
A lot of forex traders only care about making profits in the market. Some don't mind making small profits although their risk for that particular trade is higher. This is a huge mistake. Never risk more than what you can potentially make. For example, you should have a reward of at least 60 pips when you risk 30 pips, this is a healthy risk to reward ratio of 1:2.
This rule ensures you to be profitable, winning more than you loose. So let's say out of 5 trades, if you loose 3, which is total of 90 pips (30 pips lost per trade), you win the other 2 trades (60 pips per trade), you will still make 30 pips net(120 pips - 90 pips).
3. Do Not Open Multiple Positions Until First Trade Is In Profits
You may be confident that the first forex trade that you opened will be profitable, but do not open a second position until you see the profits from the first trade. This helps you to keep calm if the first position is in loss, and you don't have another burden from the second trade.
Those above may seem simple but actually require much discipline in real fact. That is what makes the difference between professional traders and retail traders, you need the right forex education. But give yourself a chance by getting forex tips, forex tutorials and forex trading system from my FREE ebook, to learn how to trade forex successfully like the professionals.
Most of the people whom I have met are only interested in searching for a great forex trading system but neglected on the money management part. You could find yourself in dead end if there is a lack of discipline in following the money management rules even if you know how to trade forex successfully.
Money management is what full time and professional forex traders seen as one of the most important factor to succeed in forex trading. Below are the 3 proven techniques that forex trading experts ALWAYS practice:
1. Only Risk Maximum Of 5% of capital Per Trade
Capital Preservations are very important, it can determine whether you are able to survive in the long run in the forex market. The reason for risking only maximum of 5% is that you still have ample capital to trade even if you loose a few trades. I risk only 1% of my capital per trade.
Never put all the eggs in one basket. Although you might have forex trading signals which gives you good probability trades, but this #1 rule should form a general part of your trading system, so that you don't risk too much on a trade.
2. Have a Healthy Risk to Reward Ratio
A lot of forex traders only care about making profits in the market. Some don't mind making small profits although their risk for that particular trade is higher. This is a huge mistake. Never risk more than what you can potentially make. For example, you should have a reward of at least 60 pips when you risk 30 pips, this is a healthy risk to reward ratio of 1:2.
This rule ensures you to be profitable, winning more than you loose. So let's say out of 5 trades, if you loose 3, which is total of 90 pips (30 pips lost per trade), you win the other 2 trades (60 pips per trade), you will still make 30 pips net(120 pips - 90 pips).
3. Do Not Open Multiple Positions Until First Trade Is In Profits
You may be confident that the first forex trade that you opened will be profitable, but do not open a second position until you see the profits from the first trade. This helps you to keep calm if the first position is in loss, and you don't have another burden from the second trade.
Those above may seem simple but actually require much discipline in real fact. That is what makes the difference between professional traders and retail traders, you need the right forex education. But give yourself a chance by getting forex tips, forex tutorials and forex trading system from my FREE ebook, to learn how to trade forex successfully like the professionals.
วันเสาร์ที่ 20 ธันวาคม พ.ศ. 2551
FX Psychology For The Successful Trader
FX Psychology For The Successful Trader
Taking responsibility of your capital It is amazing how many people are happy to place their hard earned savings in other peoples hands, accept the losses as its easier to blame someone else than to take responsibility of those funds ourselves.
The first step in any financial success is to believe in yourself and your own abilities. Have you ever notice how the experts on stock exchange get it so wrong to often. It is a real boost to your ego and confidence level when you grasp the trading concept and acquire a real solid forex education.
With this new found knowledge and confidence you can often outperform many professionals with years of experience.
The forex market moves several times faster than any other financial market and with leverage, the rewards and losses compound many times. The best way to overcome the thought of using your own money and the volumes you will be trading is to think in terms points and not in dollars, rubles or pounds. Don't calculate your profit and losses in terms of hard earn currency talk in terms of profits and losses in points. If you implement this psychology from the beginning it will feel as if are trading a demo, a mini or 10 contacts of a full account.
It is common practice for FX traders to refer to gains and losses as points. We don't refer to the currency as the benchmark of our own performance. We reference our losses and gains in points and measure our performance against this.
When trading via a forex demo account most people do very well. Why? Its psychology 101 they are trading without fear. When the real money comes into play; even on mini forex trading account they suddenly find themselves not thinking clearly and trading with fear. The outcome can be many missed opportunities and accumulated losses. They quite simply loose their nerve and give into fear and greed. I have seen this happen to forex traders when they step up from a mini account to a full account. Same thing can happen for a forex trader when they decide to stop trading single contracts and start trading multiple contracts.
Easier said then done, stop thinking about how much money you may gain or loose. Think points not money no matter how many contracts you are trading. Try this approach in a demo account.
Cut your losses and run with the profits.
Simple concept but is one of the most difficult to implement for most forex traders. It can also be the demise for most forex traders. Most traders violate their predetermined plan and take their profits before reaching their profit target because they feel uncomfortable sitting on a profitable position. These same people will easily sit on losing positions, allowing the market to move against them for hundreds of points in hopes that the market will come back. In addition, traders who have had their stops hit a few times only to see the market go back in their favor once they are out, are quick to remove stops from their trading on the belief that this will always be the case. Stops are there to be hit, and to stop you from losing more then a predetermined amount! The mistaken belief is that every trade should be profitable. If you can get 3 out of 6 trades to be profitable then you are doing well. How then do you make money with only half of your trades being winners? You simply allow your profits on the winners to run and make sure that your losses are minimal.
Another good forex strategy is to move stop losses (the point the trade will be sold if it goes the wrong way) behind the trade to a level where a pull back can be accommodated but a reversal will lock in at least some profit.
Self-discipline Use discipline when trading. Ask yourself this question. If my next retail purchase is over $400 how much research will I do prior to making the purchase. If you take your shopping serious take your trading seriously. The point to be made here is be sure that you have a plan in place before you start to trade. The plan must include stop and limit levels for the trade, as your analysis should encompass the expected downside as well as the expected upside.
Information over load
Keep your trading simple. Most traders start out with a simple trading strategy that is successful. But later on find themselves trying to find a better and more profitable system. They also allow themselves to be influenced by other opinions and too much fundamentals. It is not too different from going to a race track where everyone has a sure thing or the information available becomes so confusing you can no longer see the wood from the trees. Trading the stock market is often similar in this regard. Have a simple forex trading strategy, stick to it and keep it simple. The golden rule here is to keep it simple…don't allow yourself to become confused with too much information and if you're not sure or not in the right emotional frame of mind, don't trade.
You are not married to your trades The reason trading with a plan is so important is because most objective analysis is done before the trade is executed. Once a trade is in a position don't analyze the market differently in the "hopes" that the market will move in a favorable direction. Look at the changing factors objectively that may have turned against your original analysis. This is especially true of losses. Learn from your mistakes. Forex traders with a losing position tend to marry their position, which causes them to disregard the fact that all signs point towards continued losses. Don't take more trades in the hope that the market will turn in your favor. Your losses will accelerate.
Do not bet the farm Would you over pay for a retail product? So why would you over trade. One of the most common mistakes that traders make is leveraging their account too high. They start by trading much larger sizes than their account and they don't trade prudently. Leverage is a double-edged sword. Just because one lot (100,000 units) of currency only requires $1000 as a minimum forex margin deposit, it does not mean that a trader with $5000 in his account should be able to trade 5 lots. One lot is $100,000 and should be treated as a $100,000 investment and not the $1000 put up as margin. Most traders analyze the charts correctly and place sensible trades, yet they tend to over leverage themselves. As a consequence of this, they are often forced to exit a position at the wrong time. A good rule of thumb is to trade with 1-10 leverage or never use more than 5% of your account at any given time. Forex currency trading is not easy. If it was everyone would be trading forex.
Now that you have mastered the psychology of forex you will need a good forex trading software application to start making money. Some of the best forex software application are; forex auto cash robot, forex autopilot, forex killer and forex loophole.
Taking responsibility of your capital It is amazing how many people are happy to place their hard earned savings in other peoples hands, accept the losses as its easier to blame someone else than to take responsibility of those funds ourselves.
The first step in any financial success is to believe in yourself and your own abilities. Have you ever notice how the experts on stock exchange get it so wrong to often. It is a real boost to your ego and confidence level when you grasp the trading concept and acquire a real solid forex education.
With this new found knowledge and confidence you can often outperform many professionals with years of experience.
The forex market moves several times faster than any other financial market and with leverage, the rewards and losses compound many times. The best way to overcome the thought of using your own money and the volumes you will be trading is to think in terms points and not in dollars, rubles or pounds. Don't calculate your profit and losses in terms of hard earn currency talk in terms of profits and losses in points. If you implement this psychology from the beginning it will feel as if are trading a demo, a mini or 10 contacts of a full account.
It is common practice for FX traders to refer to gains and losses as points. We don't refer to the currency as the benchmark of our own performance. We reference our losses and gains in points and measure our performance against this.
When trading via a forex demo account most people do very well. Why? Its psychology 101 they are trading without fear. When the real money comes into play; even on mini forex trading account they suddenly find themselves not thinking clearly and trading with fear. The outcome can be many missed opportunities and accumulated losses. They quite simply loose their nerve and give into fear and greed. I have seen this happen to forex traders when they step up from a mini account to a full account. Same thing can happen for a forex trader when they decide to stop trading single contracts and start trading multiple contracts.
Easier said then done, stop thinking about how much money you may gain or loose. Think points not money no matter how many contracts you are trading. Try this approach in a demo account.
Cut your losses and run with the profits.
Simple concept but is one of the most difficult to implement for most forex traders. It can also be the demise for most forex traders. Most traders violate their predetermined plan and take their profits before reaching their profit target because they feel uncomfortable sitting on a profitable position. These same people will easily sit on losing positions, allowing the market to move against them for hundreds of points in hopes that the market will come back. In addition, traders who have had their stops hit a few times only to see the market go back in their favor once they are out, are quick to remove stops from their trading on the belief that this will always be the case. Stops are there to be hit, and to stop you from losing more then a predetermined amount! The mistaken belief is that every trade should be profitable. If you can get 3 out of 6 trades to be profitable then you are doing well. How then do you make money with only half of your trades being winners? You simply allow your profits on the winners to run and make sure that your losses are minimal.
Another good forex strategy is to move stop losses (the point the trade will be sold if it goes the wrong way) behind the trade to a level where a pull back can be accommodated but a reversal will lock in at least some profit.
Self-discipline Use discipline when trading. Ask yourself this question. If my next retail purchase is over $400 how much research will I do prior to making the purchase. If you take your shopping serious take your trading seriously. The point to be made here is be sure that you have a plan in place before you start to trade. The plan must include stop and limit levels for the trade, as your analysis should encompass the expected downside as well as the expected upside.
Information over load
Keep your trading simple. Most traders start out with a simple trading strategy that is successful. But later on find themselves trying to find a better and more profitable system. They also allow themselves to be influenced by other opinions and too much fundamentals. It is not too different from going to a race track where everyone has a sure thing or the information available becomes so confusing you can no longer see the wood from the trees. Trading the stock market is often similar in this regard. Have a simple forex trading strategy, stick to it and keep it simple. The golden rule here is to keep it simple…don't allow yourself to become confused with too much information and if you're not sure or not in the right emotional frame of mind, don't trade.
You are not married to your trades The reason trading with a plan is so important is because most objective analysis is done before the trade is executed. Once a trade is in a position don't analyze the market differently in the "hopes" that the market will move in a favorable direction. Look at the changing factors objectively that may have turned against your original analysis. This is especially true of losses. Learn from your mistakes. Forex traders with a losing position tend to marry their position, which causes them to disregard the fact that all signs point towards continued losses. Don't take more trades in the hope that the market will turn in your favor. Your losses will accelerate.
Do not bet the farm Would you over pay for a retail product? So why would you over trade. One of the most common mistakes that traders make is leveraging their account too high. They start by trading much larger sizes than their account and they don't trade prudently. Leverage is a double-edged sword. Just because one lot (100,000 units) of currency only requires $1000 as a minimum forex margin deposit, it does not mean that a trader with $5000 in his account should be able to trade 5 lots. One lot is $100,000 and should be treated as a $100,000 investment and not the $1000 put up as margin. Most traders analyze the charts correctly and place sensible trades, yet they tend to over leverage themselves. As a consequence of this, they are often forced to exit a position at the wrong time. A good rule of thumb is to trade with 1-10 leverage or never use more than 5% of your account at any given time. Forex currency trading is not easy. If it was everyone would be trading forex.
Now that you have mastered the psychology of forex you will need a good forex trading software application to start making money. Some of the best forex software application are; forex auto cash robot, forex autopilot, forex killer and forex loophole.
วันศุกร์ที่ 19 ธันวาคม พ.ศ. 2551
Forex Trading Myths - The Biggest Myth of All That Causes Traders to Lose
Forex Trading Myths - The Biggest Myth of All That Causes Traders to Lose
There are numerous Forex myths but the one enclosed is perhaps the biggest myth of all and one that most novice traders fall for, if you make this mistake, you are odds on to lose so lets take a look at it...
The myth is that forex trading is easy and you can follow and Expert Advisor and just get instant success.
Fact: Forex Robots etc Lose Money
They offer an instant income stream for $100.00 or so - but that's obviously not true, otherwise the whole world would be trading and not working!
Check the track records and there all paper simulated, back tests done knowing the closing prices and that's so easy, a child could do it. The naïve trader simply thinks the track record will repeat and of course it never does, as when you trade Forex you don't have the luxury of knowing the closing price.
Fact is 95% of traders lose money in Forex trading and you can increase that to 100%, if you take the people following back tested simulated systems.
Fact: Forex Trading is all About Mindset!
Forex trading systems that are logical and robust, can be built by anyone with the right Forex education, as the best Forex trading systems are simple - make them to complicated and they will have to many elements to break so simple is best!
So why do most traders lose if it's so easy to get a robust profitable system?
The hard part is applying it with discipline!
You need to ride out periods of losses (all traders take them even the best and they can last for weeks on end) and stay on course and keep your losses small. In Forex trading it's the discipline factor that most traders lack not the ability to learn a method.
They simply don't understand that to win long term, you have to cope with short term losing periods, they get frustrated, angry or let their emotions get involved which is fatal and leads to equity wipe out.
Self Knowledge the Key
You need to have confidence to get discipline and you need to rely on your inner belief in your system, to remain focused and this comes from the right Forex education.
You can win at Forex; easily learn Forex trading in a few weeks and if you have the right knowledge to give you confidence, this will lead to discipline the key to Forex trading success.
There are numerous Forex myths but the one enclosed is perhaps the biggest myth of all and one that most novice traders fall for, if you make this mistake, you are odds on to lose so lets take a look at it...
The myth is that forex trading is easy and you can follow and Expert Advisor and just get instant success.
Fact: Forex Robots etc Lose Money
They offer an instant income stream for $100.00 or so - but that's obviously not true, otherwise the whole world would be trading and not working!
Check the track records and there all paper simulated, back tests done knowing the closing prices and that's so easy, a child could do it. The naïve trader simply thinks the track record will repeat and of course it never does, as when you trade Forex you don't have the luxury of knowing the closing price.
Fact is 95% of traders lose money in Forex trading and you can increase that to 100%, if you take the people following back tested simulated systems.
Fact: Forex Trading is all About Mindset!
Forex trading systems that are logical and robust, can be built by anyone with the right Forex education, as the best Forex trading systems are simple - make them to complicated and they will have to many elements to break so simple is best!
So why do most traders lose if it's so easy to get a robust profitable system?
The hard part is applying it with discipline!
You need to ride out periods of losses (all traders take them even the best and they can last for weeks on end) and stay on course and keep your losses small. In Forex trading it's the discipline factor that most traders lack not the ability to learn a method.
They simply don't understand that to win long term, you have to cope with short term losing periods, they get frustrated, angry or let their emotions get involved which is fatal and leads to equity wipe out.
Self Knowledge the Key
You need to have confidence to get discipline and you need to rely on your inner belief in your system, to remain focused and this comes from the right Forex education.
You can win at Forex; easily learn Forex trading in a few weeks and if you have the right knowledge to give you confidence, this will lead to discipline the key to Forex trading success.
Learn how to use best forex software to make money
Learn how to use best forex software to make money
How do you choose the best forex software to help you with your goal of becoming a full time, at-home, independent forex trader? There are a number of products on the market that claim to be able to help you achieve this but how to separate the good from the bad from the scams? I know how hard it can be to find the best forex sofware.
Follow these guidelines to aid you in selecting the best forex software.
1. Check the payment processor. First and foremost this will tell you if it is a scam. If the company that the software publisher uses to process you transaction is a reputable provider with a checkable history then you are safe in that respect. Decent processors cannot afford to have scammers use their services. Anything that is sold through Clickbank is reliable and is covered by their 8-week guarantee period.
2. Check their results. Always search out and ask for bona fide trading results from the software publisher. Account screen shots and jpegs of entry and exit points of successful trades are useful. Better still look for videos of the actual software in action preferably used with the Metatrader 4 platform in real time. Note the real time price movements as although not impossible will be difficult to fake.
3. Check out user comments. As well as the testimonials on the products sales page also check out user feedback from independent sources.
4. Check out the price. With so much competition in this market recently the price of forex trading software has been driven down. It is still possible to pay thousands of dollars for a program but most of the packages in the $100 price region work just as well.
5. Check out the usability. Check the products specifications and its changeable settings. Even though a decent piece of software will have default setting that you can opt for and leave on, you ought to be able to change a fair amount of them as you wish. You will also want to use your own settings as you mature as a trader and develop your own style.
Having the best forex software that takes the pain out of forex trading. You are only human after all and so are subject to the emotional rollercoaster that goes hand-in hand with playing the markets. Let me show you the best forex software to help secure your financial future.
How do you choose the best forex software to help you with your goal of becoming a full time, at-home, independent forex trader? There are a number of products on the market that claim to be able to help you achieve this but how to separate the good from the bad from the scams? I know how hard it can be to find the best forex sofware.
Follow these guidelines to aid you in selecting the best forex software.
1. Check the payment processor. First and foremost this will tell you if it is a scam. If the company that the software publisher uses to process you transaction is a reputable provider with a checkable history then you are safe in that respect. Decent processors cannot afford to have scammers use their services. Anything that is sold through Clickbank is reliable and is covered by their 8-week guarantee period.
2. Check their results. Always search out and ask for bona fide trading results from the software publisher. Account screen shots and jpegs of entry and exit points of successful trades are useful. Better still look for videos of the actual software in action preferably used with the Metatrader 4 platform in real time. Note the real time price movements as although not impossible will be difficult to fake.
3. Check out user comments. As well as the testimonials on the products sales page also check out user feedback from independent sources.
4. Check out the price. With so much competition in this market recently the price of forex trading software has been driven down. It is still possible to pay thousands of dollars for a program but most of the packages in the $100 price region work just as well.
5. Check out the usability. Check the products specifications and its changeable settings. Even though a decent piece of software will have default setting that you can opt for and leave on, you ought to be able to change a fair amount of them as you wish. You will also want to use your own settings as you mature as a trader and develop your own style.
Having the best forex software that takes the pain out of forex trading. You are only human after all and so are subject to the emotional rollercoaster that goes hand-in hand with playing the markets. Let me show you the best forex software to help secure your financial future.
วันพุธที่ 17 ธันวาคม พ.ศ. 2551
Forex Success: Why You Need to Take Some Time and Exert Some Efforts
Forex Success: Why You Need to Take Some Time and Exert Some Efforts
Forex is a business that cannot be considered a quick way to earn money. It maybe one of the most lucrative businesses to get into, but it isn't a business for those who want to earn instant money without putting in much time and effort. Many mistakenly get the impression that they can easily profit so much since they already know how to run businesses. But forex trading is not just another business. In fact, it initially was just intended for the banks and huge financial companies. Later on, the opportunity opened up to the public and because of the impression that it is a quick-money scheme, so many have jumped into the water without knowing how to swim in it. Those who intend to succeed at the forex trading business should study the business very well. There are people and websites that say anybody can play the game and anybody can start earning in an instant but that isn't how so many of the successful forex traders made it through. There are so many complicated concepts that need to be understood. When you have managed to learn how to properly apply these concepts, you can begin to understand how the business works. When you know how the business works, you will be able to develop your own strategies, which you can use to start earning. But that doesn't stop there. The forex market is a continuously changing and evolving business because the market is truly alive and ever so unpredictable. This is why forex traders never stop honing their skills and they never stop adjusting. True, there are now a lot of tools that can help and they are very useful. Although there are options now to fully automate the personal trading process, it still is advisable to be hands-on in this business. After all, you are investing your money here so you do not want to lose them just because you started to get lazy with all these conveniences around you. This is a business that never sleeps and it is something that happens fast around the world. It doesn't matter if the whole world started to trade forex, everyone can still earn or profit, just as long as they know how to do it well. The main obstacle that a forex investor has to overcome in this kind of business is his emotional judgment. Many have the tendency to get driven by their emotions and most of the time, this causes them huge sums of money. For those who have the mind of the gambler, the forex market could be a place where they could lose everything. It is not bad to take risks as long as these are informed and calculated risks. How do you make them? Successful traders do it through forex education of course - by continuously learning how to do it and how to continuously adjust to the changes. Forex investors who make it big have learned to develop the mental and emotional strengths in handling their investments. This can't be done overnight.
Forex is a business that cannot be considered a quick way to earn money. It maybe one of the most lucrative businesses to get into, but it isn't a business for those who want to earn instant money without putting in much time and effort. Many mistakenly get the impression that they can easily profit so much since they already know how to run businesses. But forex trading is not just another business. In fact, it initially was just intended for the banks and huge financial companies. Later on, the opportunity opened up to the public and because of the impression that it is a quick-money scheme, so many have jumped into the water without knowing how to swim in it. Those who intend to succeed at the forex trading business should study the business very well. There are people and websites that say anybody can play the game and anybody can start earning in an instant but that isn't how so many of the successful forex traders made it through. There are so many complicated concepts that need to be understood. When you have managed to learn how to properly apply these concepts, you can begin to understand how the business works. When you know how the business works, you will be able to develop your own strategies, which you can use to start earning. But that doesn't stop there. The forex market is a continuously changing and evolving business because the market is truly alive and ever so unpredictable. This is why forex traders never stop honing their skills and they never stop adjusting. True, there are now a lot of tools that can help and they are very useful. Although there are options now to fully automate the personal trading process, it still is advisable to be hands-on in this business. After all, you are investing your money here so you do not want to lose them just because you started to get lazy with all these conveniences around you. This is a business that never sleeps and it is something that happens fast around the world. It doesn't matter if the whole world started to trade forex, everyone can still earn or profit, just as long as they know how to do it well. The main obstacle that a forex investor has to overcome in this kind of business is his emotional judgment. Many have the tendency to get driven by their emotions and most of the time, this causes them huge sums of money. For those who have the mind of the gambler, the forex market could be a place where they could lose everything. It is not bad to take risks as long as these are informed and calculated risks. How do you make them? Successful traders do it through forex education of course - by continuously learning how to do it and how to continuously adjust to the changes. Forex investors who make it big have learned to develop the mental and emotional strengths in handling their investments. This can't be done overnight.
วันอังคารที่ 16 ธันวาคม พ.ศ. 2551
Forex Signal, Forex Signals Advise
Forex Signal, Forex Signals Advise
There are lot's of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex signals providers available?
Personally, I will say do not pay for Forex signals. Think about it - if a Forex signals provider sells Forex signals for living, you can doubt their Forex trading skills? Or else if they are pretty good in Forex trading and making lot's of profit, I am wondering why do they still bother to sell Forex signals for money. Thus, what would be the value of such Forex signals providers? The answer is ZERO.
There are Forex traders who have been relying on Forex signals arguing those Forex signals providers really help them making money in Forex trading. These Forex traders can even show their Forex trading logs as evidence. After some though, I came out with the assumption that assuming I am the owner of a Forex signals provider, in order for my business to be in black, obviously I need some satisfying customers. If I have 100 new customers this month, I send out buy signal for the 50 of my new customers while the another half with sell signal. At the end, I will able to have "some satisfying customers". Finally, free advertising and testimonial will be made available.
If you are really new into Forex trading, it's better for you to sign up a demo Forex trading account from any Forex brokers and try some practice trades for a few months. This will give you insight into how the forex market behaves. Then only deposit a small amount of money to get a real feel. There are great differences between demo trading and real trading due to personal trading psychology.
Final words, if you really wish to buy Forex signals from a Forex signal provider, make sure they have got an audited results and do provide a free trial over a substantial period.
There are lot's of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex signals providers available?
Personally, I will say do not pay for Forex signals. Think about it - if a Forex signals provider sells Forex signals for living, you can doubt their Forex trading skills? Or else if they are pretty good in Forex trading and making lot's of profit, I am wondering why do they still bother to sell Forex signals for money. Thus, what would be the value of such Forex signals providers? The answer is ZERO.
There are Forex traders who have been relying on Forex signals arguing those Forex signals providers really help them making money in Forex trading. These Forex traders can even show their Forex trading logs as evidence. After some though, I came out with the assumption that assuming I am the owner of a Forex signals provider, in order for my business to be in black, obviously I need some satisfying customers. If I have 100 new customers this month, I send out buy signal for the 50 of my new customers while the another half with sell signal. At the end, I will able to have "some satisfying customers". Finally, free advertising and testimonial will be made available.
If you are really new into Forex trading, it's better for you to sign up a demo Forex trading account from any Forex brokers and try some practice trades for a few months. This will give you insight into how the forex market behaves. Then only deposit a small amount of money to get a real feel. There are great differences between demo trading and real trading due to personal trading psychology.
Final words, if you really wish to buy Forex signals from a Forex signal provider, make sure they have got an audited results and do provide a free trial over a substantial period.
วันศุกร์ที่ 12 ธันวาคม พ.ศ. 2551
4 Ways To Increase Profits For Your Business
Business is all about profits and we all hope that any venture we get into will turn into a money-spinner that vindicates all our efforts and leaved early retirement a questionable fact no longer. But gaining profits is not easy, as any person who has ever started his own business will tell you, it is a combination of hard work, cunning, knowing the market and placing your money in the right places. In this balancing act that is the business world, we need all the help we can get and here discussed are 4 ways to increase profits for your business.
One of the ways is to make your money work. Profits should not be used on that yatch you always wanted nor should it be spent on that big screen TV. Money should be pumped back into the business and used to develop its structure and diversity its business strategies. One of the ways is to turn profits into start up capitals for other ventures the company can undertake, or as a form of investment into the various markets - futures, equity, stocks and bond and even the Forex market. That way, you can open up many revenue streams and thus have a company that is running high in profits. Also another thing, when you have several revenue streams, you are able to cover the losses or one as in some corporations their main money maker is just a single revenue stream - the rest are there as a backup to the main operations.
The other way is to bank on the intangibles. The world is moving in the direction of a knowledge economy and it is time to bank on those aspects that are both marketable and profitable. If your company does an 'arms and legs' sort of business, this could be a diversifying strategy. Consultancies make a lot of money from simple expertise and this can be translated into an intangible that can be capitalised to earn extra profits. Take a look at the various talents your company has and the experience it has as well. See if anything is bankable.
Another way is to also cut costs within the company which means a greater profit margins. Doing this while maintaining the same output is quite tricky and sometimes you have to spend some money to achieve this effect. A lot of companies wield the power of technology and automated systems to achieve this.
Another big way to increase your profits is to market yourself extensively. A well thought out and committed campaign targeted at the market most likely to buy into your product will create intensive results that are good for anyone. Pump in money and manpower into your marketing efforts and a well thought out campaign with enough capital to back it up will produce positive profit results.
These are the 4 ways to increase profits for your business and I hope that this article has helped you formulate new strategies and a bit of reshuffling to point your company towards the stars.
One of the ways is to make your money work. Profits should not be used on that yatch you always wanted nor should it be spent on that big screen TV. Money should be pumped back into the business and used to develop its structure and diversity its business strategies. One of the ways is to turn profits into start up capitals for other ventures the company can undertake, or as a form of investment into the various markets - futures, equity, stocks and bond and even the Forex market. That way, you can open up many revenue streams and thus have a company that is running high in profits. Also another thing, when you have several revenue streams, you are able to cover the losses or one as in some corporations their main money maker is just a single revenue stream - the rest are there as a backup to the main operations.
The other way is to bank on the intangibles. The world is moving in the direction of a knowledge economy and it is time to bank on those aspects that are both marketable and profitable. If your company does an 'arms and legs' sort of business, this could be a diversifying strategy. Consultancies make a lot of money from simple expertise and this can be translated into an intangible that can be capitalised to earn extra profits. Take a look at the various talents your company has and the experience it has as well. See if anything is bankable.
Another way is to also cut costs within the company which means a greater profit margins. Doing this while maintaining the same output is quite tricky and sometimes you have to spend some money to achieve this effect. A lot of companies wield the power of technology and automated systems to achieve this.
Another big way to increase your profits is to market yourself extensively. A well thought out and committed campaign targeted at the market most likely to buy into your product will create intensive results that are good for anyone. Pump in money and manpower into your marketing efforts and a well thought out campaign with enough capital to back it up will produce positive profit results.
These are the 4 ways to increase profits for your business and I hope that this article has helped you formulate new strategies and a bit of reshuffling to point your company towards the stars.
Six Ways To Make Money Fast
Six Ways To Make Money Fast
There are many circumstances in life that would force a person to come up with ideas to make money fast. If that day ever comes, here are several ideas for you to make money fast.
Apply to a temp agency - Temp agencies are those that offer companies short-term solutions for any human resource problem they have. Make sure you have all proof of your credentials with you when you apply and if they have a suitable job, you'll certainly be hired on the spot!
Try day trading - Day trading in the forex market allows you to earn profit from making split-second decisions on investments you've made for a day. To earn a substantial profit from day trading, you'll have to put up a bigger amount of money. That means greater risk so you better practice your skills on a dummy account before investing any of your hard-earned cash.
Answer paid surveys - Paid surveys do exist. And it does happen the way you've heard it. You sign up to receive paid surveys and links about surveys with requirements that match your profile are emailed to you. Afterwards, you answer the survey, submit the completed form, and voila! You've made money for yourself!
The key to earning from paid surveys is by signing up with as many appropriate marketing research firms as possible. Make sure the firm is a legitimate one. If it hasn't any contact information displayed on its website, you might be safer switching to another firm.
Write an article - A lot of websites and offline publications are willing to pay good money for well-written articles. Even if they don't end up using it for their next issue, you'll still get paid for it because your article will be kept for future use as space filler.
To increase the chances of getting your article approved, familiarize yourself with the various subject matters the website or publication is interested in. Now, think of an article topic that falls within any of those categories. Lastly, think of a new perspective or take for your article to make it distinguishable from others. If you are creating online content, make sure you use the appropriate keywords for your subject matter. If possible, have a cover letter accompany your article submissions.
Write a resume - Everyone is interested in finding a good job, but not everyone is capable of fulfilling the requirements for their goals. One of those requirements is having a well-written resume. If you have the skills for it, a lot of people will be willing to pay you to make them look good on paper. You can charge additional fees if they wish for you to add a cover letter as well.
Make someone beautiful - Professional makeup artists get paid hundreds to thousands of dollars for making a person beautiful. You may not be a professional, but if applying makeup and styling hair comes naturally to you then many women will be more than glad to avail of your services. To increase profit, you should also consider offering other cosmetic services like applying nail polish.
There are many circumstances in life that would force a person to come up with ideas to make money fast. If that day ever comes, here are several ideas for you to make money fast.
Apply to a temp agency - Temp agencies are those that offer companies short-term solutions for any human resource problem they have. Make sure you have all proof of your credentials with you when you apply and if they have a suitable job, you'll certainly be hired on the spot!
Try day trading - Day trading in the forex market allows you to earn profit from making split-second decisions on investments you've made for a day. To earn a substantial profit from day trading, you'll have to put up a bigger amount of money. That means greater risk so you better practice your skills on a dummy account before investing any of your hard-earned cash.
Answer paid surveys - Paid surveys do exist. And it does happen the way you've heard it. You sign up to receive paid surveys and links about surveys with requirements that match your profile are emailed to you. Afterwards, you answer the survey, submit the completed form, and voila! You've made money for yourself!
The key to earning from paid surveys is by signing up with as many appropriate marketing research firms as possible. Make sure the firm is a legitimate one. If it hasn't any contact information displayed on its website, you might be safer switching to another firm.
Write an article - A lot of websites and offline publications are willing to pay good money for well-written articles. Even if they don't end up using it for their next issue, you'll still get paid for it because your article will be kept for future use as space filler.
To increase the chances of getting your article approved, familiarize yourself with the various subject matters the website or publication is interested in. Now, think of an article topic that falls within any of those categories. Lastly, think of a new perspective or take for your article to make it distinguishable from others. If you are creating online content, make sure you use the appropriate keywords for your subject matter. If possible, have a cover letter accompany your article submissions.
Write a resume - Everyone is interested in finding a good job, but not everyone is capable of fulfilling the requirements for their goals. One of those requirements is having a well-written resume. If you have the skills for it, a lot of people will be willing to pay you to make them look good on paper. You can charge additional fees if they wish for you to add a cover letter as well.
Make someone beautiful - Professional makeup artists get paid hundreds to thousands of dollars for making a person beautiful. You may not be a professional, but if applying makeup and styling hair comes naturally to you then many women will be more than glad to avail of your services. To increase profit, you should also consider offering other cosmetic services like applying nail polish.
วันพุธที่ 10 ธันวาคม พ.ศ. 2551
Currency Trading - The Rewards Are Great But Are You Prepared?
Currency Trading - The Rewards Are Great But Are You Prepared?
Currency trading is quickly gaining ground as one of the most popular ways to earn money online and it is without doubt a very profitable business. However few traders are familiar with all the details and complications of currency Trading and most ignore a very important aspect: risk. Forex gives you a chance to invest your money successfully, but that is not enough! You have to be careful because Forex trading can be both an profitable home business or it can be a source of a major headache.
Why is Currency trading considered risky?
- Every investment bears risk. Its written in the fine print of CFTC every document, of every brochure of every financial institution managing people's investments, including mutual fund companies, credit unions, major commercial banks, etc.
- The currency market in general is actually quite stable. Compared to the stock market the Forex market is way more stable. Also there is no insider trading and the news come out at well known times. However the volumes traded on the Forex market makes even the smallest change in the rates seem significant.
- Fluctuations in currency prices, interest rate differentials between two different countries, large volume transactions and limited flow of exotic currencies will all have certain effect on the market.
- Large profits and minimal losses are impossible to predict with 100% accuracy.
- The currency trading market has great winning potential, but it also has a potential for losses.
- Poor money management (no Stop Loss orders) and emotional baggage are most of the time a cause of loss. Use facts, not hope or fear, when trading.
- Huge leverage is provided to traders. If not managed properly, this leads to dangerous positions that expose the account to unjustified risk.
- Lack of money management or no general trading plan are the mistakes that traders make sometimes.
- Choosing an unreliable or dishonest broker can lead to problems as they can widen spreads during volatile market conditions affecting the retail trader. They can even refuse to trade sometimes. Choosing a reliable broker is essential to your success.
- Scams were very common years ago when dealing with a broker. However, one can be confident in company one is working with by checking their background and the Institutions they are associated with (large banks, important insurance companies).
Don't be discouraged! Forex isn't all about risks. And have this in mind: If Currency trading isn't profitable then why are so many financial investors, banks, international institutions and important players that obtain huge amounts of cash by simply turning their own money into other currencies?
And don't start trading in fear! You will loose this way. You just have to keep in mind all possibilities and avoid unwanted situations only you can get yourself into. All Currency traders have to be very well informed about their activity. They have to know technical analysis and how to read and interpret charts, they have to develop effective strategies and minimize risk. The financial exposure has to be limited and this can be done in many ways.
So, educate yourself, be prudent, never risk more than you can afford and always trade with a stop Loss.
วันพฤหัสบดีที่ 4 ธันวาคม พ.ศ. 2551
Forex Day Trading - How to automate forex day trading
Forex Day Trading - How to automate forex day trading
You've heard it all over the internet. Big claims of profits in short periods of time as a result of traders who have figured out how to automate forex day trading for their portfolios. There are certain steps and things you should know before you automate forex trading accounts on your own portfolios. Keep reading, this is really good material.
The first step is to come up with a profitable system. Your forex trading system should focus on producing greater profits on winning trades than your losses on the losing trades. It is a given that many of your trades will lose. But if you can come up with a money management system before you automate forex trading, you can actually program that money management right into your automated forex trading software. These software programs are called Expert Advisors.
Expert Advisors can only run on the MetaTrader 4 platform. This is great news because the MT4 forex day trading platform is one of the top rated platforms, mainly because of its capability to automate forex day trading. There are some free expert advisor programs out there, but steer clear of them. There's a reason they're free. They don't work, and can't automate forex day trading profitably.
Money management is going to be the key success factor in your forex day trading. You should try to focus on finding an expert advisor program that can not only automate your forex trading, but will also build in your money management and risk factors. Choose a system that has a greater than 70% winning ratio.
The winning ratio of 70% means that the program has been back tested and forward tested and 70% of the total trades were winning. So once you have the win ratio, it's time to set stop losses to minimize your losses.
These are the first and most important steps to figure out prior to being in a position to automate forex trading on your portfolio. It's a good idea once you have it set up to automate forex day trading, to test the settings on a demo account. These accounts are free and easy to set up.
You've heard it all over the internet. Big claims of profits in short periods of time as a result of traders who have figured out how to automate forex day trading for their portfolios. There are certain steps and things you should know before you automate forex trading accounts on your own portfolios. Keep reading, this is really good material.
The first step is to come up with a profitable system. Your forex trading system should focus on producing greater profits on winning trades than your losses on the losing trades. It is a given that many of your trades will lose. But if you can come up with a money management system before you automate forex trading, you can actually program that money management right into your automated forex trading software. These software programs are called Expert Advisors.
Expert Advisors can only run on the MetaTrader 4 platform. This is great news because the MT4 forex day trading platform is one of the top rated platforms, mainly because of its capability to automate forex day trading. There are some free expert advisor programs out there, but steer clear of them. There's a reason they're free. They don't work, and can't automate forex day trading profitably.
Money management is going to be the key success factor in your forex day trading. You should try to focus on finding an expert advisor program that can not only automate your forex trading, but will also build in your money management and risk factors. Choose a system that has a greater than 70% winning ratio.
The winning ratio of 70% means that the program has been back tested and forward tested and 70% of the total trades were winning. So once you have the win ratio, it's time to set stop losses to minimize your losses.
These are the first and most important steps to figure out prior to being in a position to automate forex trading on your portfolio. It's a good idea once you have it set up to automate forex day trading, to test the settings on a demo account. These accounts are free and easy to set up.
Forex Trading Bot - 60 Day Trial
Forex Trading Bot - 60 Day Trial
WANT TO OWN a highly profitable Forex Trading Bot that could double or even triple your trading account? FAP Turbo is the one and only Forex Trading Bot in existence. This automated forex trading system can give you consistent trading profits without having to do lots of work. The system works in any country and in any meta trader platform. If you are serious enough to make a healthy second income from forex you have to read this Forex Trading Bot Review
FAP TURBO is a trading robot that features live results on real money. The only forex robot in existence that can double or even triple real monetary deposits since 1999. The system is the only Forex robot of its kind trading real money. The system proves it's own profitability not just on backesting but on REAL LIVE Trading.
1. HOW Does Forex Trading Bot Work?
This trading system relies on only the price of each currency pair to determine your entry and exit points. It uses no other forms of indicators or charts, which is quite different from most other Forex trading systems. It is basically a set-and-forget system that requires no decision making on their users' parts, and is made for people who have a day job.
2. WHAT Do You Need To Do Everyday To Run The Forex Trading Bot?
Firstly, you must establish the amount of capital you plan to commit to your trades. This allows the software to set your profit targets and run your trading plan according to your target profit. After that, you will need to take note of specified prices from the market in the weekend, and use the numbers as input for the system's formula through a spreadsheet that you download from the member's area. The spreadsheets formula will then use the numbers you had entered and work out your profit and stop loss prices.
3. WHAT Does The Forex Trading Bot Package Contain?
This system package contains a guide that details the step by step system that you will use to run every weekend. After that, you get to learn how to trade with a demo account as there is a guide that teaches you how to do this. If you have no experience trading currency, you can use the list of sites provided in the guide to start paper trading with the system.
FOR ME, there are no other better way to test if the system really works than watching it work during Live Trading. And this is what Forex Turbo will show you. You can watch how this automated Forex Trading Bot system rake thousands in profits Live! Live real money accounts trade with FAP Turbo, laid wide open! The link Is Below.
Forex Trading Bot is the results of several months of intensive research, testing and development. The system was created by a talented Forex & Math's genius and professional programmer. IT IS the only trading system with perfect anti loss mechanic unseen in any other forex robot to this date. It has a stealth mode that can protect you from losing money. FAP Turbo's Forex Trading Bot is the best working forex automated income solution on the planet!
WANT TO OWN a highly profitable Forex Trading Bot that could double or even triple your trading account? FAP Turbo is the one and only Forex Trading Bot in existence. This automated forex trading system can give you consistent trading profits without having to do lots of work. The system works in any country and in any meta trader platform. If you are serious enough to make a healthy second income from forex you have to read this Forex Trading Bot Review
FAP TURBO is a trading robot that features live results on real money. The only forex robot in existence that can double or even triple real monetary deposits since 1999. The system is the only Forex robot of its kind trading real money. The system proves it's own profitability not just on backesting but on REAL LIVE Trading.
1. HOW Does Forex Trading Bot Work?
This trading system relies on only the price of each currency pair to determine your entry and exit points. It uses no other forms of indicators or charts, which is quite different from most other Forex trading systems. It is basically a set-and-forget system that requires no decision making on their users' parts, and is made for people who have a day job.
2. WHAT Do You Need To Do Everyday To Run The Forex Trading Bot?
Firstly, you must establish the amount of capital you plan to commit to your trades. This allows the software to set your profit targets and run your trading plan according to your target profit. After that, you will need to take note of specified prices from the market in the weekend, and use the numbers as input for the system's formula through a spreadsheet that you download from the member's area. The spreadsheets formula will then use the numbers you had entered and work out your profit and stop loss prices.
3. WHAT Does The Forex Trading Bot Package Contain?
This system package contains a guide that details the step by step system that you will use to run every weekend. After that, you get to learn how to trade with a demo account as there is a guide that teaches you how to do this. If you have no experience trading currency, you can use the list of sites provided in the guide to start paper trading with the system.
FOR ME, there are no other better way to test if the system really works than watching it work during Live Trading. And this is what Forex Turbo will show you. You can watch how this automated Forex Trading Bot system rake thousands in profits Live! Live real money accounts trade with FAP Turbo, laid wide open! The link Is Below.
Forex Trading Bot is the results of several months of intensive research, testing and development. The system was created by a talented Forex & Math's genius and professional programmer. IT IS the only trading system with perfect anti loss mechanic unseen in any other forex robot to this date. It has a stealth mode that can protect you from losing money. FAP Turbo's Forex Trading Bot is the best working forex automated income solution on the planet!
วันศุกร์ที่ 28 พฤศจิกายน พ.ศ. 2551
Trading The Online Forex Market
Trading The Online Forex Market
Let's look at some of the things that drive the trading on the online foreign exchange market, also known as the Forex. In particular, let's look at Forex terms and concepts. Technical Analysis Technical analysis attempts to forecast future price movements by examining past market data. This involves using various technical indicators that help you decipher what is going on in the market i.e. are we in an uptrend, downtrend, or are we going nowhere? Some of these technical indicators include: moving averages, stochastics, relative strength index (RSI), Bollinger Bands, MACD, Fibonacci retracements, and others. These are visual representations placed on a trading chart to help the trader make a decision whether to buy, sell or stay out of a market. Fundamental Analysis for the Online Foreign Exchange Fundamental analysis studies the main underlying elements and variable that help influence the direction of the currency. Some of these elements are government policies, economic indicators (such as retail sales numbers, non farm payrolls, housing starts, Consumer Price Index, Producer Price Index, and Gross Domestic Product), etc. Basically, fundamental analysis attempts to use those economic numbers (i.e. news events) to help show traders where the economy and thus markets are headed. One needs to be aware and prepared for the various news events that are planned to be announced. Many of the fundamental reports are posted at certain times of the day/week/month so it is fairly easy to get prepared for them. NOTE: When trading, it is essential to use both fundamental and technical analysis to help you make decisions. While you may have technical analysis down pat, ignoring the fundamentals can cost you money. For example, letís say that your indicators are all showing an uptrend is continuing in a pairing consisting of the US Dollar. You feel it is rebounding. You ignore the fact that there is a major announcement scheduled at 9:00am EST about the credit market. The news comes at 9:00 that 2 major US banks and mortgage companies just announced they are going to lose $30 billion in the sub-prime mortgage fiasco. You are long in the US Dollar market -- well guess what just happened? You probably just experienced a 50-200 pip drop in that pairing -- in the matter of seconds! There are a number of online financial calendars that you can use to help you keep track of the major key indicator announcements. These sites include: http://Bloomberg.Com, http://Briefing.Com, Yahoo U.S. Economic Calendar, http://CNNfn.Com, http://FXWeek.Com, and many others. There are literally hundreds of online resources out there (websites and blogs) that can help you gather information about trading this market. Many of these resources are free and most Forex brokers will have a library of educational materials that you can study. Some brokers will also offer free online courses and videos. They want you to trade. That is how they make money, so any good broker will offer you many ways to help train you. Some of the key areas you need to focus on are Forex basics and terminology (i.e. what a pip is and the best times to trade), your broker's trading platform (i.e. the functionality), basic charting, fundamental analysis, technical analysis, and the psychological aspects of trading in general. The point is: It is not that difficult to keep track of the major announcements and it's easy to learn more, every day, about trading the Forex market. Don't let laziness cause you to lose money!
Let's look at some of the things that drive the trading on the online foreign exchange market, also known as the Forex. In particular, let's look at Forex terms and concepts. Technical Analysis Technical analysis attempts to forecast future price movements by examining past market data. This involves using various technical indicators that help you decipher what is going on in the market i.e. are we in an uptrend, downtrend, or are we going nowhere? Some of these technical indicators include: moving averages, stochastics, relative strength index (RSI), Bollinger Bands, MACD, Fibonacci retracements, and others. These are visual representations placed on a trading chart to help the trader make a decision whether to buy, sell or stay out of a market. Fundamental Analysis for the Online Foreign Exchange Fundamental analysis studies the main underlying elements and variable that help influence the direction of the currency. Some of these elements are government policies, economic indicators (such as retail sales numbers, non farm payrolls, housing starts, Consumer Price Index, Producer Price Index, and Gross Domestic Product), etc. Basically, fundamental analysis attempts to use those economic numbers (i.e. news events) to help show traders where the economy and thus markets are headed. One needs to be aware and prepared for the various news events that are planned to be announced. Many of the fundamental reports are posted at certain times of the day/week/month so it is fairly easy to get prepared for them. NOTE: When trading, it is essential to use both fundamental and technical analysis to help you make decisions. While you may have technical analysis down pat, ignoring the fundamentals can cost you money. For example, letís say that your indicators are all showing an uptrend is continuing in a pairing consisting of the US Dollar. You feel it is rebounding. You ignore the fact that there is a major announcement scheduled at 9:00am EST about the credit market. The news comes at 9:00 that 2 major US banks and mortgage companies just announced they are going to lose $30 billion in the sub-prime mortgage fiasco. You are long in the US Dollar market -- well guess what just happened? You probably just experienced a 50-200 pip drop in that pairing -- in the matter of seconds! There are a number of online financial calendars that you can use to help you keep track of the major key indicator announcements. These sites include: http://Bloomberg.Com, http://Briefing.Com, Yahoo U.S. Economic Calendar, http://CNNfn.Com, http://FXWeek.Com, and many others. There are literally hundreds of online resources out there (websites and blogs) that can help you gather information about trading this market. Many of these resources are free and most Forex brokers will have a library of educational materials that you can study. Some brokers will also offer free online courses and videos. They want you to trade. That is how they make money, so any good broker will offer you many ways to help train you. Some of the key areas you need to focus on are Forex basics and terminology (i.e. what a pip is and the best times to trade), your broker's trading platform (i.e. the functionality), basic charting, fundamental analysis, technical analysis, and the psychological aspects of trading in general. The point is: It is not that difficult to keep track of the major announcements and it's easy to learn more, every day, about trading the Forex market. Don't let laziness cause you to lose money!
The Forex Market Trading Plan
The Forex Market Trading Plan
This article will explain exactly why you need a Forex market trading plan. Furthermore, we'll give you a couple of simple ideas to get started with your own personal foreign exchange trading plan. When is the last time you took a trip out of state to a place you have never been before? Did you get into your vehicle and just start driving, hoping that you will just somehow find your destination? Ok, yes, perhaps it would be fun to discover new territory without a road map, but most times you will find it hard and very frustrating to get where you want to go. That is why you make plans, and creating a trading plan is no different. It is, in fact, way more important than a simple road trip! Forex marketer trading plans are meant to make you create a roadmap on where you are currently, where you want to go, and the rules you will need in order to help you get there. Creating an FX trading plan involves writing down your goals and objectives in your trading venture. You will want to keep it as simple as possible, but with enough detail and with strict rules so that when you start to question your trading, you can look back at your plan and get back on track. Having a trading plan is a key to consistency, which is the cornerstone of your trading life. Having a trading plan also allows for continuing growth and expansion of your trading career. If you stick with your plan, you should be able to gradually and continually increase your trading account, giving you the ability to trade larger lots, and hopefully make a good living from doing so. There is an adage in the trading community that you will hear and see quite often: Plan Your Trade and Trade Your Plan You will find that this is very easy to say, but can be very difficult to do. However, it is essential that you follow the advice. All it means is that you create your trading guidelines (setups to watch for, entry rules and exits, and what you are allowed to risk on each trade) and then follow through with what you have written. Here are some key things that make up a trading plan: Your System: Are you a day trader or a swing trader? What charts do you watch? What indicators do you watch? What are your entries and exits? What is the most you are willing to risk per trade? Your Goals: What dollar amount do you want to try and achieve the first month, second month, etc.? What is your yearly income goal? What dollar amount is your "drop dead" figure (meaning at what point or loss of capital do you stop trading for good)? What do you want to get out of trading? Your Weaknesses: Do you tend to overtrade FX? Do you stick with your money management rules? Do you overreact with anger? You can find sample trading plans on the internet and please use them to create your own, custom Forex trading plan. Create it, stick to it, read it, re-read it, and revise it as needed. Doing so will give you an advantage over many other traders that simple will not take the time to create one!
This article will explain exactly why you need a Forex market trading plan. Furthermore, we'll give you a couple of simple ideas to get started with your own personal foreign exchange trading plan. When is the last time you took a trip out of state to a place you have never been before? Did you get into your vehicle and just start driving, hoping that you will just somehow find your destination? Ok, yes, perhaps it would be fun to discover new territory without a road map, but most times you will find it hard and very frustrating to get where you want to go. That is why you make plans, and creating a trading plan is no different. It is, in fact, way more important than a simple road trip! Forex marketer trading plans are meant to make you create a roadmap on where you are currently, where you want to go, and the rules you will need in order to help you get there. Creating an FX trading plan involves writing down your goals and objectives in your trading venture. You will want to keep it as simple as possible, but with enough detail and with strict rules so that when you start to question your trading, you can look back at your plan and get back on track. Having a trading plan is a key to consistency, which is the cornerstone of your trading life. Having a trading plan also allows for continuing growth and expansion of your trading career. If you stick with your plan, you should be able to gradually and continually increase your trading account, giving you the ability to trade larger lots, and hopefully make a good living from doing so. There is an adage in the trading community that you will hear and see quite often: Plan Your Trade and Trade Your Plan You will find that this is very easy to say, but can be very difficult to do. However, it is essential that you follow the advice. All it means is that you create your trading guidelines (setups to watch for, entry rules and exits, and what you are allowed to risk on each trade) and then follow through with what you have written. Here are some key things that make up a trading plan: Your System: Are you a day trader or a swing trader? What charts do you watch? What indicators do you watch? What are your entries and exits? What is the most you are willing to risk per trade? Your Goals: What dollar amount do you want to try and achieve the first month, second month, etc.? What is your yearly income goal? What dollar amount is your "drop dead" figure (meaning at what point or loss of capital do you stop trading for good)? What do you want to get out of trading? Your Weaknesses: Do you tend to overtrade FX? Do you stick with your money management rules? Do you overreact with anger? You can find sample trading plans on the internet and please use them to create your own, custom Forex trading plan. Create it, stick to it, read it, re-read it, and revise it as needed. Doing so will give you an advantage over many other traders that simple will not take the time to create one!
Forex Trading Online and Money Management
Forex Trading Online and Money Management
If you're going to be Forex trading online then you need to understand the basic principles of money management. In this article you'll learn several key ideas that relate to both foreign trading and general market trading. If you don't pay attention to this rules, you could lose a lot of money quickly. You know the old saying: "Never place all of your eggs in one basket." This is very true of the Forex market (or any financial market for that matter.) It is widely held that one should NEVER risk more than 5% (or less) on any one trade. This is the basis behind money (or risk) management. It helps keep you from getting emotionally attached to the trade. It is VERY easy to get angry at the market for a trade that went bad -- you will want to "get even." Everyone has experienced this. BUT if you stick to the 5% or less rule, it will help contain that urge to invest more money into a losing trade. Oh, and you will lose money trading if you don't. Period. There is not one person on this planet that always makes good trades. It is simply not possible...well, ok: it's simple not probable. If a person were to be a perfect trader, we would have no markets. They would dominate everything. If you read any trading book, magazine or website (and you should), if they are intelligent at all, they will all tell you the same thing. You will lose money trading. The key is to limit your risk as best as you can and to stick to your money management plan. Most traders lose money because of a lack of a trading plan and not having strict money management guidelines. It is important that you understand the risks involved in Forex trading. You need not to over invest or be overconfident at the thrill of opportunity of making huge money. Create a money management plan by simply writing down your goal and objectives. You know what amount of money you are going to start your account with, so take that number and do the calculations to see how much money you can risk with each trade...remember: no more than 5%, less if possible. Write it down and keep it in front of you at all times. Remind yourself of your limits. Trading the Forex market is a skill that takes quite a bit of time to learn. And while you may have some good success at first, keep yourself grounded. It will become very tempting, especially after having quite a few winning trades in a row, to become overconfident and start risking more than your allotted 5% limit. You are setting yourself up for disaster if you fall into this false sense of "I CAN'T LOSE" mentality. Take your time, study the nuances of the market, and set up a strict money management plan. This will help you stay in this game longer than the average trader!
If you're going to be Forex trading online then you need to understand the basic principles of money management. In this article you'll learn several key ideas that relate to both foreign trading and general market trading. If you don't pay attention to this rules, you could lose a lot of money quickly. You know the old saying: "Never place all of your eggs in one basket." This is very true of the Forex market (or any financial market for that matter.) It is widely held that one should NEVER risk more than 5% (or less) on any one trade. This is the basis behind money (or risk) management. It helps keep you from getting emotionally attached to the trade. It is VERY easy to get angry at the market for a trade that went bad -- you will want to "get even." Everyone has experienced this. BUT if you stick to the 5% or less rule, it will help contain that urge to invest more money into a losing trade. Oh, and you will lose money trading if you don't. Period. There is not one person on this planet that always makes good trades. It is simply not possible...well, ok: it's simple not probable. If a person were to be a perfect trader, we would have no markets. They would dominate everything. If you read any trading book, magazine or website (and you should), if they are intelligent at all, they will all tell you the same thing. You will lose money trading. The key is to limit your risk as best as you can and to stick to your money management plan. Most traders lose money because of a lack of a trading plan and not having strict money management guidelines. It is important that you understand the risks involved in Forex trading. You need not to over invest or be overconfident at the thrill of opportunity of making huge money. Create a money management plan by simply writing down your goal and objectives. You know what amount of money you are going to start your account with, so take that number and do the calculations to see how much money you can risk with each trade...remember: no more than 5%, less if possible. Write it down and keep it in front of you at all times. Remind yourself of your limits. Trading the Forex market is a skill that takes quite a bit of time to learn. And while you may have some good success at first, keep yourself grounded. It will become very tempting, especially after having quite a few winning trades in a row, to become overconfident and start risking more than your allotted 5% limit. You are setting yourself up for disaster if you fall into this false sense of "I CAN'T LOSE" mentality. Take your time, study the nuances of the market, and set up a strict money management plan. This will help you stay in this game longer than the average trader!
วันจันทร์ที่ 17 พฤศจิกายน พ.ศ. 2551
Key Benefits of Online Forex Trading
Key Benefits of Online Forex Trading
In the past, online forex trading was limited to only big financial institutions and banks who were the only ones benefiting out of it. But, now due to the availability of the Internet, brokers, individuals, brokerage firms and governments agencies, we can have an access to online forex trading with ease. Internet technology has enabled every one to reap the benefits of online forex trading. Online forex trading is considered as the largest financial market of the world due to the huge volume of business handled everyday.
Online forex trading has become very popular due to the ability of the computers to make complex charts which was not possible in the past as people could not afford to access the internet and high powered computers in their homes.
Benefits of online forex trading:
With the advent of the online forex trading, forex traders can do business round the clock irrespective of the geographical location they have been placed. This is very important in contributing to the growth of the forex trading industry to the extent that the daily transactions have been increased to two trillion USD.
Opening of an online forex trading account is very easy as there are many people who can offer this kind service to the trader. But they need to be very sure that they too deal with the same kind of currencies which the trader is interested in. There are free practice accounts allowing to test the skills of the trader offered by the provider with the usage of funny money before making transaction with real cash.
The traders can trade in different markets with different currencies at the same time without any problems. This is only possible because of online forex trading. This has brought in lot of flexibility and liquidity in online forex trading. The trader is able to trade and access quotes in real time with online forex transactions.
Another important benefit of online forex trading is that, it has eliminated the bulls and bears of the trade. We can say that the only trade market without the bulls and bears is the online forex trading market.
The most prominent feature of online forex trading is the way it is being operated transparently. There is no hide and seek involved in the process. It makes it easy to compare and spot trends making the decision to buy or sell at the right time with ease. This is only possible due to availability of the information instantly to everyone all over the globe.
Online forex trading does not involve any commission, or exchange fees, or hidden costs etc. The trade is done in a very fast pace as there is no kind of any delay involved in it. It takes only seconds to execute the trade, fill or confirm the same. Also it provides greater leverage to the small traders than any other market could offer them.
Although there is lot of benefits involved in the online forex trading, there is also a flip side to it. Not everyone who had invested their money in online forex trading has become rich. The reason for that is online forex trading is very risky. The trader has to take a decision within a transaction of the second which can end up with a profit or with a loss.
In the past, online forex trading was limited to only big financial institutions and banks who were the only ones benefiting out of it. But, now due to the availability of the Internet, brokers, individuals, brokerage firms and governments agencies, we can have an access to online forex trading with ease. Internet technology has enabled every one to reap the benefits of online forex trading. Online forex trading is considered as the largest financial market of the world due to the huge volume of business handled everyday.
Online forex trading has become very popular due to the ability of the computers to make complex charts which was not possible in the past as people could not afford to access the internet and high powered computers in their homes.
Benefits of online forex trading:
With the advent of the online forex trading, forex traders can do business round the clock irrespective of the geographical location they have been placed. This is very important in contributing to the growth of the forex trading industry to the extent that the daily transactions have been increased to two trillion USD.
Opening of an online forex trading account is very easy as there are many people who can offer this kind service to the trader. But they need to be very sure that they too deal with the same kind of currencies which the trader is interested in. There are free practice accounts allowing to test the skills of the trader offered by the provider with the usage of funny money before making transaction with real cash.
The traders can trade in different markets with different currencies at the same time without any problems. This is only possible because of online forex trading. This has brought in lot of flexibility and liquidity in online forex trading. The trader is able to trade and access quotes in real time with online forex transactions.
Another important benefit of online forex trading is that, it has eliminated the bulls and bears of the trade. We can say that the only trade market without the bulls and bears is the online forex trading market.
The most prominent feature of online forex trading is the way it is being operated transparently. There is no hide and seek involved in the process. It makes it easy to compare and spot trends making the decision to buy or sell at the right time with ease. This is only possible due to availability of the information instantly to everyone all over the globe.
Online forex trading does not involve any commission, or exchange fees, or hidden costs etc. The trade is done in a very fast pace as there is no kind of any delay involved in it. It takes only seconds to execute the trade, fill or confirm the same. Also it provides greater leverage to the small traders than any other market could offer them.
Although there is lot of benefits involved in the online forex trading, there is also a flip side to it. Not everyone who had invested their money in online forex trading has become rich. The reason for that is online forex trading is very risky. The trader has to take a decision within a transaction of the second which can end up with a profit or with a loss.
Risks by the foreign exchange on Forex
Risks by the foreign exchange on Forex
The Forex is essentially risk-bearing. By the evaluation of the grade of a possible risk accounted should be the following kinds of it: exchange rate risk, interest rate risk, and credit risk, country risk.
Exchange rate risk. Exchange rate risk is the effect of the continuous shift in the worldwide market supply and demand balance on an outstanding foreign exchange position. For the period it is outstanding, the position will be subject to all the price changes. The most popular measures to cut losses short and ride profitable positions that losses should be kept within manageable limits are the position limit and the loss limit. By the position limitation a maximum amount of a certain currency a trader is allowed to carry at any single time during the regular trading hours is to be established. The loss limit is a measure designed to avoid unsustainable losses made by traders by means of stop-loss levels setting.
Interest rate risk. Interest rate risk refers to the profit and loss generated by fluctuations in the forward spreads, along with forward amount mismatches and maturity gaps among transactions in the foreign exchange book. This risk is pertinent to currency swaps, forward outright, futures, and options (See below). To minimize interest rate risk, one sets limits on the total size of mismatches. A common approach is to separate the mismatches, based on their maturity dates, into up to six months and past six months. All the transactions are entered in computerized systems in order to calculate the positions for all the dates of the delivery, gains and losses. Continuous analysis of the interest rate environment is necessary to forecast any changes that may impact on the outstanding gaps.
Credit risk. Credit risk refers to the possibility that an outstanding currency position may not be repaid as agreed, due to a voluntary or involuntary action by a counter party. In these cases, trading occurs on regulated exchanges, such as the clearinghouse of Chicago. The following forms of credit risk are known:
1. Replacement risk occurs when counterparties of the failed bank find their books are subjected to the danger not to get refunds from the bank, where appropriate accounts became unbalanced.
2. Settlement risk occurs because of the time zones on different continents. Consequently, currencies may be traded at the different price at different times during the trading day. Australian and New Zealand dollars are credited first, then Japanese yen, followed by the European currencies and ending with the U.S. dollar. Therefore, payment may be made to a party that will declare insolvency (or be declared insolvent) immediately after, but prior to executing its own payments.
Therefore in assessing the credit risk, end users must consider not only the market value of their currency portfolios, but also the potential exposure of these portfolios. The potential exposure may be determined through probability analysis over the time to maturity of the outstanding position. The computerized systems currently available are very useful in implementing credit risk policies. Credit lines are easily monitored. In addition, the matching systems introduced in foreign exchange since April 1993 are used by traders for credit policy implementation as well. Traders input the total line of credit for a specific counterparty. During the trading session, the line of credit is automatically adjusted. If the line is fully used, the system will prevent the trader from further dealing with that counterparty. After maturity, the credit line reverts to its original level.
Dictatorship risk. Dictatorship (sovereign) risk refers to the government's interference in the Forex activity. Although theoretically present in all foreign exchange instruments, currency futures are, for all practical purposes, excepted from country risk, because the major currency futures markets are located in the USA. Hence, traders have to realize that kind of the risk and be in state to account possible administrative restrictions.
The Forex is essentially risk-bearing. By the evaluation of the grade of a possible risk accounted should be the following kinds of it: exchange rate risk, interest rate risk, and credit risk, country risk.
Exchange rate risk. Exchange rate risk is the effect of the continuous shift in the worldwide market supply and demand balance on an outstanding foreign exchange position. For the period it is outstanding, the position will be subject to all the price changes. The most popular measures to cut losses short and ride profitable positions that losses should be kept within manageable limits are the position limit and the loss limit. By the position limitation a maximum amount of a certain currency a trader is allowed to carry at any single time during the regular trading hours is to be established. The loss limit is a measure designed to avoid unsustainable losses made by traders by means of stop-loss levels setting.
Interest rate risk. Interest rate risk refers to the profit and loss generated by fluctuations in the forward spreads, along with forward amount mismatches and maturity gaps among transactions in the foreign exchange book. This risk is pertinent to currency swaps, forward outright, futures, and options (See below). To minimize interest rate risk, one sets limits on the total size of mismatches. A common approach is to separate the mismatches, based on their maturity dates, into up to six months and past six months. All the transactions are entered in computerized systems in order to calculate the positions for all the dates of the delivery, gains and losses. Continuous analysis of the interest rate environment is necessary to forecast any changes that may impact on the outstanding gaps.
Credit risk. Credit risk refers to the possibility that an outstanding currency position may not be repaid as agreed, due to a voluntary or involuntary action by a counter party. In these cases, trading occurs on regulated exchanges, such as the clearinghouse of Chicago. The following forms of credit risk are known:
1. Replacement risk occurs when counterparties of the failed bank find their books are subjected to the danger not to get refunds from the bank, where appropriate accounts became unbalanced.
2. Settlement risk occurs because of the time zones on different continents. Consequently, currencies may be traded at the different price at different times during the trading day. Australian and New Zealand dollars are credited first, then Japanese yen, followed by the European currencies and ending with the U.S. dollar. Therefore, payment may be made to a party that will declare insolvency (or be declared insolvent) immediately after, but prior to executing its own payments.
Therefore in assessing the credit risk, end users must consider not only the market value of their currency portfolios, but also the potential exposure of these portfolios. The potential exposure may be determined through probability analysis over the time to maturity of the outstanding position. The computerized systems currently available are very useful in implementing credit risk policies. Credit lines are easily monitored. In addition, the matching systems introduced in foreign exchange since April 1993 are used by traders for credit policy implementation as well. Traders input the total line of credit for a specific counterparty. During the trading session, the line of credit is automatically adjusted. If the line is fully used, the system will prevent the trader from further dealing with that counterparty. After maturity, the credit line reverts to its original level.
Dictatorship risk. Dictatorship (sovereign) risk refers to the government's interference in the Forex activity. Although theoretically present in all foreign exchange instruments, currency futures are, for all practical purposes, excepted from country risk, because the major currency futures markets are located in the USA. Hence, traders have to realize that kind of the risk and be in state to account possible administrative restrictions.
Forex News Trading Tip: How To Trade The FOMC
Forex News Trading Tip: How To Trade The FOMC
The Federal Open Market Committee (FOMC) decision on interest rates is one of the most powerful market movers in the forex market and when the markets move traders trading the news have the opportunity to make money. The FOMC sets the discount rate or federal funds rate and because interest rates are set higher to induce foreign investment and therefore fight inflation during times of prosperity and lower to increase spending during recessions they are one of the main factors influencing the strength of the dollar. Economic indicators play a huge role in the forex trading especially for traders who approach the market through fundamental analysis and trade the news. The Federal Open Market Committee (FOMC) interest rate decision is one of the most influential indicators for the US dollar and you can be sure after the news is released there is going to be volatility in the markets and volatility is what traders thrive on. I have heard many 'traders' say never to trade the news and especially the FOMC. Although the FOMC interest decision is a news event and can fall under the category of through fundamental analysis I am a technician and I believe that charts always price everything in. However I guarantee the market does not know what exactly the Feds comments and decision will be, therefore it is not priced in yet and this will cause the markets to react when they do find out. This is confirmed by the change in price after the decision and the continuation in the days following. I have been trading the Fed for eight years now and yes I have been burnt in the past and that is exactly how I have come to learn how to trade it properly. The most common pattern to trade the Fed is the whip-saw. But do not be fearful of it, embrace it. Here is how it happens, first there is a large spike one direction (traders come in and follow that direction)followed by a large spike in the opposite direction (those same traders now sell their first position at a loss and reverse their position - this is when I take a position in the direction of the original move)followed by an extended move back in the direction of the original spike (all the emotional trades are left sick to their stomachs) and I am left holding a very nice position setting myself up to capture a larger than average market move. If this pattern does not play out exactly as outlined I stand on the sidelines and do not trade at all. Because the markets are moving fast in the period following the FOMC interest rate decision I am watching a very short time frame, mainly the one and five minute charts. Jordan Lindsey is a professional trader who's personal forex trading group 'Conquering The Markets' utilizes his forex trading strategies to trade his forex trading systems with sound money management and together work toward helping people all over the world live better lives.
The Federal Open Market Committee (FOMC) decision on interest rates is one of the most powerful market movers in the forex market and when the markets move traders trading the news have the opportunity to make money. The FOMC sets the discount rate or federal funds rate and because interest rates are set higher to induce foreign investment and therefore fight inflation during times of prosperity and lower to increase spending during recessions they are one of the main factors influencing the strength of the dollar. Economic indicators play a huge role in the forex trading especially for traders who approach the market through fundamental analysis and trade the news. The Federal Open Market Committee (FOMC) interest rate decision is one of the most influential indicators for the US dollar and you can be sure after the news is released there is going to be volatility in the markets and volatility is what traders thrive on. I have heard many 'traders' say never to trade the news and especially the FOMC. Although the FOMC interest decision is a news event and can fall under the category of through fundamental analysis I am a technician and I believe that charts always price everything in. However I guarantee the market does not know what exactly the Feds comments and decision will be, therefore it is not priced in yet and this will cause the markets to react when they do find out. This is confirmed by the change in price after the decision and the continuation in the days following. I have been trading the Fed for eight years now and yes I have been burnt in the past and that is exactly how I have come to learn how to trade it properly. The most common pattern to trade the Fed is the whip-saw. But do not be fearful of it, embrace it. Here is how it happens, first there is a large spike one direction (traders come in and follow that direction)followed by a large spike in the opposite direction (those same traders now sell their first position at a loss and reverse their position - this is when I take a position in the direction of the original move)followed by an extended move back in the direction of the original spike (all the emotional trades are left sick to their stomachs) and I am left holding a very nice position setting myself up to capture a larger than average market move. If this pattern does not play out exactly as outlined I stand on the sidelines and do not trade at all. Because the markets are moving fast in the period following the FOMC interest rate decision I am watching a very short time frame, mainly the one and five minute charts. Jordan Lindsey is a professional trader who's personal forex trading group 'Conquering The Markets' utilizes his forex trading strategies to trade his forex trading systems with sound money management and together work toward helping people all over the world live better lives.
Forex - What is it?
Forex - What is it?
The international currency market Forex is a special kind of the world financial market. Trader’s purpose on the Forex to get profit as the result of foreign currencies purchase and sale. The exchange rates of all currencies being in the market turnover are permanently changing under the action of the demand and supply alteration. The latter is a strong subject to the influence of any important for the human society event in the sphere of economy, politics and nature. Consequently current prices of foreign currencies evaluated for instance in the US dollars fluctuate towards its higher and lower meanings. Using these fluctuations in accordance with a known principle “buy cheaper – sell higher” traders obtain gains. Forex is different in compare to all other sectors of the world financial system thanks to his heightened sensibility to a large and continuously changing number of factors, accessibility to all individual and corporative traders, exclusively high trade turnover which creates an ensured liquidity of traded currencies and the round - the clock business hours which enable traders to deal after normal hours or during national holidays in their country finding markets abroad open.
Just as on any other market the trading on Forex, along with an exclusively high potential profitability, is essentially risk - bearing one. It is possible to gain a success on it only after a certain training including a familiarization with the structure and kinds of Forex, the principles of currencies price formation, the factors affecting prices alterations and trading risks levels, sources of the information necessary to account all those factors, techniques of the analysis and prediction of the market movements as well as with the trading tools and rules. An important role in the process of the preparation for the trading on Forex belongs to the demotrading (that is to trade using a demo-account with some virtual money), which allows to testify all the theoretical knowledge and to obtain a required minimum of the trade experience not being subjected to a material damage.
The international currency market Forex is a special kind of the world financial market. Trader’s purpose on the Forex to get profit as the result of foreign currencies purchase and sale. The exchange rates of all currencies being in the market turnover are permanently changing under the action of the demand and supply alteration. The latter is a strong subject to the influence of any important for the human society event in the sphere of economy, politics and nature. Consequently current prices of foreign currencies evaluated for instance in the US dollars fluctuate towards its higher and lower meanings. Using these fluctuations in accordance with a known principle “buy cheaper – sell higher” traders obtain gains. Forex is different in compare to all other sectors of the world financial system thanks to his heightened sensibility to a large and continuously changing number of factors, accessibility to all individual and corporative traders, exclusively high trade turnover which creates an ensured liquidity of traded currencies and the round - the clock business hours which enable traders to deal after normal hours or during national holidays in their country finding markets abroad open.
Just as on any other market the trading on Forex, along with an exclusively high potential profitability, is essentially risk - bearing one. It is possible to gain a success on it only after a certain training including a familiarization with the structure and kinds of Forex, the principles of currencies price formation, the factors affecting prices alterations and trading risks levels, sources of the information necessary to account all those factors, techniques of the analysis and prediction of the market movements as well as with the trading tools and rules. An important role in the process of the preparation for the trading on Forex belongs to the demotrading (that is to trade using a demo-account with some virtual money), which allows to testify all the theoretical knowledge and to obtain a required minimum of the trade experience not being subjected to a material damage.
วันเสาร์ที่ 15 พฤศจิกายน พ.ศ. 2551
Automated Forex Trading Systems - Can They Help You Make Consistent Profit?
Automated Forex Trading Systems - Can They Help You Make Consistent Profit?
The Forex Market has the largest number and variety of traders. As the number of these traders continues to increase, so does the turnover of the market. Every day 3-4 trillion dollars are changing hands. But according to the figures, only 5% of people make any profit from trading Forex. This happens because the majority of Forex traders, either don't have the necessary skills or don't use the right tools.
The skills of successful Forex Traders:
* They are confident in what they are doing.
* They have discipline even during bad times.
* They take responsibility for their actions.
* They don't get greedy and they know exactly when to stop.
* They have devoted their time to study the market.
* They don't get influenced by the opinions of other people.
The tools of successful Forex Traders:
1. They follow a solid system.
2. They use reliable trading software.
Almost all elite traders out there have their automatic Forex trader. Automated Forex applications allow you to begin with a demo account. This way you can practice without risking any real money. Instead of spending several hours every day looking at charts and graphs, with the help of a software you can always be up-to-date on all the currency values. Of course, there are many systems out there that don't deliver what they promise. It is absolutely essential to choose a reliable Forex Software. You have to make sure that it provides security for its users, it is easy to use and of course is efficient. An automatic trading system, doesn't have emotions like fear or greed, so it knows exactly when to trade and when to stop trading.
Are you ready to become an elite Forex Trader?
The Forex Market has the largest number and variety of traders. As the number of these traders continues to increase, so does the turnover of the market. Every day 3-4 trillion dollars are changing hands. But according to the figures, only 5% of people make any profit from trading Forex. This happens because the majority of Forex traders, either don't have the necessary skills or don't use the right tools.
The skills of successful Forex Traders:
* They are confident in what they are doing.
* They have discipline even during bad times.
* They take responsibility for their actions.
* They don't get greedy and they know exactly when to stop.
* They have devoted their time to study the market.
* They don't get influenced by the opinions of other people.
The tools of successful Forex Traders:
1. They follow a solid system.
2. They use reliable trading software.
Almost all elite traders out there have their automatic Forex trader. Automated Forex applications allow you to begin with a demo account. This way you can practice without risking any real money. Instead of spending several hours every day looking at charts and graphs, with the help of a software you can always be up-to-date on all the currency values. Of course, there are many systems out there that don't deliver what they promise. It is absolutely essential to choose a reliable Forex Software. You have to make sure that it provides security for its users, it is easy to use and of course is efficient. An automatic trading system, doesn't have emotions like fear or greed, so it knows exactly when to trade and when to stop trading.
Are you ready to become an elite Forex Trader?
Learn Forex Trading to make a Better Life for You and Your Family
Learn Forex Trading to make a Better Life for You and Your Family
So many of us are caught in dead end jobs with little or no advancement opportunities and are looking for a way out. We want to improve out positions in life but really lack the direction on which path to follow. If this sounds like you then taking the time to learn Forex trading could certainly be a possible way out. Each and every day thousands of people world wide are joining the currency markets with hopes of becoming the next wealthy investor. For those that have taken time to learn currency trading from the bottom to top and everything in between there chances of been successful have defiantly been enhanced.
The process of learning Forex trading online has never been easier than it is today. Not only is it fairly simple to start learning, the assess to high quality material is simply overwhelming and growing rapidly. If your not sure if this is a path you want to follow before starting to invest in your education you can begin with the free material on the internet. There are sites such as Forex brokerage firms, forums and blogs that have free Forex tutorials. After reading and studying them you should have a good idea if you want to pursue this further.
The free information is great but it is simply not sufficient to start trading with and making money. It covers the basics very well, but does not really do a good job with the advanced topics you will be required to know. This is where you have to make a decision and determine if you want to go forward. If you want to move ahead then it is time to invest in yourself and education by enrolling in one of the top level currency trading programs. There are many to choose from and there are also many websites that have rated and reviewed the different courses that will be able to give you a helping hand in making that final choice.
After you have taken time to learn Forex trading by enrolling in a currency trading class you will be well on your way to accomplishing your life long goals of financial independence. The next step is putting into practice what you have been taught in a discipline and patient approach. The Forex program stated here does not by itself guarantee a path to financial riches, but it certainly gets you in the right direction and the rest is up to you.
So many of us are caught in dead end jobs with little or no advancement opportunities and are looking for a way out. We want to improve out positions in life but really lack the direction on which path to follow. If this sounds like you then taking the time to learn Forex trading could certainly be a possible way out. Each and every day thousands of people world wide are joining the currency markets with hopes of becoming the next wealthy investor. For those that have taken time to learn currency trading from the bottom to top and everything in between there chances of been successful have defiantly been enhanced.
The process of learning Forex trading online has never been easier than it is today. Not only is it fairly simple to start learning, the assess to high quality material is simply overwhelming and growing rapidly. If your not sure if this is a path you want to follow before starting to invest in your education you can begin with the free material on the internet. There are sites such as Forex brokerage firms, forums and blogs that have free Forex tutorials. After reading and studying them you should have a good idea if you want to pursue this further.
The free information is great but it is simply not sufficient to start trading with and making money. It covers the basics very well, but does not really do a good job with the advanced topics you will be required to know. This is where you have to make a decision and determine if you want to go forward. If you want to move ahead then it is time to invest in yourself and education by enrolling in one of the top level currency trading programs. There are many to choose from and there are also many websites that have rated and reviewed the different courses that will be able to give you a helping hand in making that final choice.
After you have taken time to learn Forex trading by enrolling in a currency trading class you will be well on your way to accomplishing your life long goals of financial independence. The next step is putting into practice what you have been taught in a discipline and patient approach. The Forex program stated here does not by itself guarantee a path to financial riches, but it certainly gets you in the right direction and the rest is up to you.
If I Learn Forex Trading from the Basics to the Advanced Trading Techniques will I Make Big Money
If I Learn Forex Trading from the Basics to the Advanced Trading Techniques will I Make Big Money
If you have a goal of becoming wealthy trading the currency markets and are wondering if it is possible, the answer is a very strong yes. In fact, thousands of private investors are joining the market each and every day with that exact same goal. Unfortunately, most of them will fail to make money and drop out quickly. The overwhelming reason most fail is fairly simple, they start trading and investing having little or no knowledge of what they are doing. Why they just throw there hard earned money away with no chance of making money is beyond me. If you are serious about making money in the markets then you really need to learn Forex trading from the ground floor up and build a solid educational foundation for yourself.
If you are under the impression you can purchase an automated Forex trading system and go to the golf course and you will come home rich, well I have a little bad news for you. You are not going to come home rich, buy you will find that you lose you investment sooner or later. There is simply one and only one way to make money in the currency markets and that is to have an extraordinary understanding of what, when and how to trade. If you don't believe me, then try trading without leaning what your doing and see how you do. Yes, a very small percentage of the people who try will make, but the vast majority will not.
Never has been learning currency trading online easier than it is today. Also, never has there been better Forex training classes to take. Many of these classes have been on the market for years and refined there educational materials time after time to the point that it is just a fantastic way to get started in the markets. There are three distinct types of classes; mentoring programs, comprehensive education and specific techniques.
The comprehensive classes provide you a solid foundation to build your knowledge and trading on for the future. The mentoring programs are taught by professional Forex traders and are the most expensive, but the are also the best and virtually guarantee a profitable entry into the FX markets. The specific courses instruct a simple technique that you simply repeat over and over turning small profits each time into large profits on a monthly basis. Which ever way you choose to learn Forex trading you can be sure if you take one of the top rated courses that has been around for a while you will receive a great education and be well on your way to making big money in the markets.
If you have a goal of becoming wealthy trading the currency markets and are wondering if it is possible, the answer is a very strong yes. In fact, thousands of private investors are joining the market each and every day with that exact same goal. Unfortunately, most of them will fail to make money and drop out quickly. The overwhelming reason most fail is fairly simple, they start trading and investing having little or no knowledge of what they are doing. Why they just throw there hard earned money away with no chance of making money is beyond me. If you are serious about making money in the markets then you really need to learn Forex trading from the ground floor up and build a solid educational foundation for yourself.
If you are under the impression you can purchase an automated Forex trading system and go to the golf course and you will come home rich, well I have a little bad news for you. You are not going to come home rich, buy you will find that you lose you investment sooner or later. There is simply one and only one way to make money in the currency markets and that is to have an extraordinary understanding of what, when and how to trade. If you don't believe me, then try trading without leaning what your doing and see how you do. Yes, a very small percentage of the people who try will make, but the vast majority will not.
Never has been learning currency trading online easier than it is today. Also, never has there been better Forex training classes to take. Many of these classes have been on the market for years and refined there educational materials time after time to the point that it is just a fantastic way to get started in the markets. There are three distinct types of classes; mentoring programs, comprehensive education and specific techniques.
The comprehensive classes provide you a solid foundation to build your knowledge and trading on for the future. The mentoring programs are taught by professional Forex traders and are the most expensive, but the are also the best and virtually guarantee a profitable entry into the FX markets. The specific courses instruct a simple technique that you simply repeat over and over turning small profits each time into large profits on a monthly basis. Which ever way you choose to learn Forex trading you can be sure if you take one of the top rated courses that has been around for a while you will receive a great education and be well on your way to making big money in the markets.
The Top 10 Forex Trading Systems Rating and Review Factors
The Top 10 Forex Trading Systems Rating and Review Factors
If you are considering purchasing a Forex trading system in the near future below are a few aspects you might want to take into account when making your final decision. There presently are a multitude of currency trading system on the market and there are more being introduced on almost a daily basis. When examining these FX software trading systems you will be overwhelmed with marketing material making your final choice confusing.
The software should be used as a tool to help you make trading decisions and not as a decision maker itself. After numerous tests we have not found an automated Forex software trading system that is able to produce consistent profits for extended periods. That does not mean those systems should not be considered. All of the automated trading systems allow the automatic trading to be turned off and trading be done manually. What these systems do exceptionally well is gather data, determine what information is significant and send a signal based on its preprogrammed algorithm of what is important and what is not essential. One special point of emphasis which is, if you have not taken your time to learn Forex trading from the basics to the advanced stages these systems are going to be of little value to you.
COST: This is totally not a consideration which should be used. Most of these products are priced in the same range and are very inexpensive to boot. With one single successful trade the cost of the systems is usually recouped.
LONGEVITY: A very important aspect to think about is how long a product has been on the market. The longer the software has been on the market the more customers it has and the more feedback the developers have received. More than likely these systems have gone through numerous updates, refinements and upgrades. Even Microsoft which spends billions on software development always has issues when a new product is first introduced and the bugs are worked out in latter versions.
FREE UPDATES: This is a controversial issue. Most of the systems offer free updates. I would prefer that charged a nominal fee for these as it would increase there cash flow and provide them funds to continue to make the products better.
SYSTEM CATERGORY: Essentially Forex trading systems fall into three distinct categories. They are trend, signal and formula based software. Make sure you aware of exactly what your favorite trading method will be when examining the different types of product.
Regardless of what Top 10 Forex trading system you purchase you can be sure that is has be tried, tested, updated and upgraded and you will be getting a pretty good product. Be sure to understand that these systems can make you huge amounts of money if you know what you're doing. But, it you have not take time to learn currency trading online then they will be of little use and more than likely you will not be a profitable trader.
If you are considering purchasing a Forex trading system in the near future below are a few aspects you might want to take into account when making your final decision. There presently are a multitude of currency trading system on the market and there are more being introduced on almost a daily basis. When examining these FX software trading systems you will be overwhelmed with marketing material making your final choice confusing.
The software should be used as a tool to help you make trading decisions and not as a decision maker itself. After numerous tests we have not found an automated Forex software trading system that is able to produce consistent profits for extended periods. That does not mean those systems should not be considered. All of the automated trading systems allow the automatic trading to be turned off and trading be done manually. What these systems do exceptionally well is gather data, determine what information is significant and send a signal based on its preprogrammed algorithm of what is important and what is not essential. One special point of emphasis which is, if you have not taken your time to learn Forex trading from the basics to the advanced stages these systems are going to be of little value to you.
COST: This is totally not a consideration which should be used. Most of these products are priced in the same range and are very inexpensive to boot. With one single successful trade the cost of the systems is usually recouped.
LONGEVITY: A very important aspect to think about is how long a product has been on the market. The longer the software has been on the market the more customers it has and the more feedback the developers have received. More than likely these systems have gone through numerous updates, refinements and upgrades. Even Microsoft which spends billions on software development always has issues when a new product is first introduced and the bugs are worked out in latter versions.
FREE UPDATES: This is a controversial issue. Most of the systems offer free updates. I would prefer that charged a nominal fee for these as it would increase there cash flow and provide them funds to continue to make the products better.
SYSTEM CATERGORY: Essentially Forex trading systems fall into three distinct categories. They are trend, signal and formula based software. Make sure you aware of exactly what your favorite trading method will be when examining the different types of product.
Regardless of what Top 10 Forex trading system you purchase you can be sure that is has be tried, tested, updated and upgraded and you will be getting a pretty good product. Be sure to understand that these systems can make you huge amounts of money if you know what you're doing. But, it you have not take time to learn currency trading online then they will be of little use and more than likely you will not be a profitable trader.
วันพฤหัสบดีที่ 13 พฤศจิกายน พ.ศ. 2551
Automated Forex Trading System - A Free System For Big Consistent Gains!
Automated Forex Trading System - A Free System For Big Consistent Gains!
There are a lot of automated forex trading systems to choose from and here we are you going to give you a simple free robot that has made millions over the years for disciplined savvy traders and you can use it too...
Firstly, most of the automated forex trading systems you see heavily promoted on line are junk - they come with paper, back tested simulations and have never even been traded. They rely on hyped clever marketing to get sales but they don't work and the trader loses his equity.
The one we are going to look at here is very simple but that doesn't mean it doesn't make big gains, it does and it will continue to do so.
Before we look at why it works, lets just look at the rule of the system and it only has one - making it one of the simplest automated forex trading systems you can get.
Buy a new 4 week calendar high is price then, look to sell a new 4 calendar low, then do the same in reverse i.e. buy the next 4 week high and maintain a position in the market at all times.
That's it - and while it's simple (you can do the calculation in your head - it works. So why is it so effective?
- It's a breakout system and most major moves start from new highs or lows, so this system will get you in on all the big trends.
- It will get you in on all the major trends and a glance at a forex chart, will show you the big trends last for many weeks, months or years
- The rule is objective and you can simply follow it, you dont need to think its automatic.
Another great advantage of this forex robot is it takes very little time to operate, just 15 minutes a day.
It was actually devised in the late seventies, by well known trader Richard Donchian and has been used by traders all around the world ever since.
Many traders though wont use it despite the fact it's so profitable and here are the main reasons:
- For some reason traders think complex systems work better but they don't, simple systems are more robust and the above is simplicity itself.
- It's not a flavour of the month method, like a system based on Chaos theory or artificial intelligence.
- Its not fussy about picking tops and bottoms - you cant predict these of course but traders like to try and lose.
- Its not mystical, people love ridiculous theories such as Gann, Elliot Wave and Fibonacci despite the fact they have not found the order in the market they claim.
A Quick Way to Seek Big Gains
In forex trading to make money you don't need to be complicated and you don't need to put in lots of time, this is a myth. The effort you put into your forex trading strategy has no influence on the amount of money you will make.
A System Which Works and Will Continue to Work
The aim of trading for the serious trader is based upon the money he puts in his pocket. If you are serious about making money this system is simple, logical, is easy to understand, works and will continue to work, as long as markets trend and I don't think that's ever going to change!
If you want to make money take a look at this free automated forex trading system and you will be surprised at just how much money it can make you in around 15 minutes day.
Simple absolutely - but it makes big long term gains and if that appeals to you, check this forex robot out and you maybe glad you did.
There are a lot of automated forex trading systems to choose from and here we are you going to give you a simple free robot that has made millions over the years for disciplined savvy traders and you can use it too...
Firstly, most of the automated forex trading systems you see heavily promoted on line are junk - they come with paper, back tested simulations and have never even been traded. They rely on hyped clever marketing to get sales but they don't work and the trader loses his equity.
The one we are going to look at here is very simple but that doesn't mean it doesn't make big gains, it does and it will continue to do so.
Before we look at why it works, lets just look at the rule of the system and it only has one - making it one of the simplest automated forex trading systems you can get.
Buy a new 4 week calendar high is price then, look to sell a new 4 calendar low, then do the same in reverse i.e. buy the next 4 week high and maintain a position in the market at all times.
That's it - and while it's simple (you can do the calculation in your head - it works. So why is it so effective?
- It's a breakout system and most major moves start from new highs or lows, so this system will get you in on all the big trends.
- It will get you in on all the major trends and a glance at a forex chart, will show you the big trends last for many weeks, months or years
- The rule is objective and you can simply follow it, you dont need to think its automatic.
Another great advantage of this forex robot is it takes very little time to operate, just 15 minutes a day.
It was actually devised in the late seventies, by well known trader Richard Donchian and has been used by traders all around the world ever since.
Many traders though wont use it despite the fact it's so profitable and here are the main reasons:
- For some reason traders think complex systems work better but they don't, simple systems are more robust and the above is simplicity itself.
- It's not a flavour of the month method, like a system based on Chaos theory or artificial intelligence.
- Its not fussy about picking tops and bottoms - you cant predict these of course but traders like to try and lose.
- Its not mystical, people love ridiculous theories such as Gann, Elliot Wave and Fibonacci despite the fact they have not found the order in the market they claim.
A Quick Way to Seek Big Gains
In forex trading to make money you don't need to be complicated and you don't need to put in lots of time, this is a myth. The effort you put into your forex trading strategy has no influence on the amount of money you will make.
A System Which Works and Will Continue to Work
The aim of trading for the serious trader is based upon the money he puts in his pocket. If you are serious about making money this system is simple, logical, is easy to understand, works and will continue to work, as long as markets trend and I don't think that's ever going to change!
If you want to make money take a look at this free automated forex trading system and you will be surprised at just how much money it can make you in around 15 minutes day.
Simple absolutely - but it makes big long term gains and if that appeals to you, check this forex robot out and you maybe glad you did.
Best Forex Automated Systems - This One is Free and Made Millions in Profit!
Best Forex Automated Systems - This One is Free and Made Millions in Profit!
When looking for the best automated Forex trading systems, a strong contender is the one enclosed and don't think because its free it doesn't work - it does and has for over 20 years...
There is no question Forex trading systems have a bad reputation and this is down to the numerous junk robots that are sold with track records that are simply back tests and not proven. The system we are going to look at here on the other hand has been used by savvy traders around the world for years and works.
The system we are going to look at is the 4 Week Rule and it was devised by one of the great traders Richard Donchian and since the late seventies it's been at the heart of some of the top traders systems - even trading legend Richard Dennis was a fan so you know your in good company.
The system is incredibly simple and you don't even need a computer to run it - it has one simple rule, so lets look at it.
Buy a new 4 week high and reverse the position when a new 4 week low is hit - keep buying the 4 week high and selling the 4 week low and always maintain a position in the market.
You can't get much more simple than that and but if you think about the logic it's soundly based.
1. it's a very simple breakout system and it's a fact that most major trends start from breaks to new market highs or lows.
2. By its very nature its long term and if you look at a Forex chart, you will see the big trends can last many months or longer.
3. This system as it is always in the market so is guaranteed to put you on the side of every big trend.
It's also got some other great advantages, it's quick to implement about 15 minutes a day max and gives you a set trading signal with no subjective judgement needed.
Despite the fact it works and will continue to work most traders won't bother with it and here are the reasons why.
1. They think its to simple despite the fact it works
2. They want to buy tops and bottoms exactly, despite the fact you can't do this
3. Its to long term and traders always like action and lack the discipline to hold long term trends
4. It's not complex - traders think this increases chances of success but of course the opposite is true - simple systems are more robust.
5. It's not based on fancy theories chaos, neural networks, artificial intelligence etc - these theories don't work in Forex but again traders love them.
6. There is no fancy packaging or a ridiculous name that insinuates taking on and beating the market.
Most traders pick junk robots with simulated track records and fall for the hype. This automated Forex trading system has no hype but plenty of profits and I know which system I would rather have!
The system works and will continue to work and if you are interested in long term profits take a look at it and it can increase your chances of forex trading success.
When looking for the best automated Forex trading systems, a strong contender is the one enclosed and don't think because its free it doesn't work - it does and has for over 20 years...
There is no question Forex trading systems have a bad reputation and this is down to the numerous junk robots that are sold with track records that are simply back tests and not proven. The system we are going to look at here on the other hand has been used by savvy traders around the world for years and works.
The system we are going to look at is the 4 Week Rule and it was devised by one of the great traders Richard Donchian and since the late seventies it's been at the heart of some of the top traders systems - even trading legend Richard Dennis was a fan so you know your in good company.
The system is incredibly simple and you don't even need a computer to run it - it has one simple rule, so lets look at it.
Buy a new 4 week high and reverse the position when a new 4 week low is hit - keep buying the 4 week high and selling the 4 week low and always maintain a position in the market.
You can't get much more simple than that and but if you think about the logic it's soundly based.
1. it's a very simple breakout system and it's a fact that most major trends start from breaks to new market highs or lows.
2. By its very nature its long term and if you look at a Forex chart, you will see the big trends can last many months or longer.
3. This system as it is always in the market so is guaranteed to put you on the side of every big trend.
It's also got some other great advantages, it's quick to implement about 15 minutes a day max and gives you a set trading signal with no subjective judgement needed.
Despite the fact it works and will continue to work most traders won't bother with it and here are the reasons why.
1. They think its to simple despite the fact it works
2. They want to buy tops and bottoms exactly, despite the fact you can't do this
3. Its to long term and traders always like action and lack the discipline to hold long term trends
4. It's not complex - traders think this increases chances of success but of course the opposite is true - simple systems are more robust.
5. It's not based on fancy theories chaos, neural networks, artificial intelligence etc - these theories don't work in Forex but again traders love them.
6. There is no fancy packaging or a ridiculous name that insinuates taking on and beating the market.
Most traders pick junk robots with simulated track records and fall for the hype. This automated Forex trading system has no hype but plenty of profits and I know which system I would rather have!
The system works and will continue to work and if you are interested in long term profits take a look at it and it can increase your chances of forex trading success.
Foreign Exchange (Forex) Risk Management
Foreign Exchange (Forex) Risk Management
The foreign exchange or forex market is one of the largest and most liquid financial markets in the world with a daily transaction of almost 1.5 trillion U.S. dollars. Banks, financial institutions and individual investors, therefore, have huge potential of economic gain as well as losses.
Foreign exchange risk is a potential gain or loss that occurs as a result of a change in exchange rate. In order to minimize the possibility of financial loss, every investor needs to adopt some forex risk management measures.
For minimizing forex risk, one must remember few basic points: (1) value of a currency changes frequently affecting firms and individuals engaged in international transactions; (2) assets, liabilities, and cash flows are affected through changes in the exchange rates.
So the forex market presents risks involving accounting and translation exposure, economic exposure, transaction exposure and real operating exposure.
Transactional exposures involve quite high risk for foreign exchange. Impact of exchange rate fluctuations on present cash flows, export and import, borrowing and lending in foreign currency, all can cause fluctuation in currency rates which should be considered while developing risk management features.
In most currencies there are futures or forward exchange contracts whose prices give indication on expected market prices of the currencies. These contracts can lock in the anticipated change. So the foreign exchange risk arises due to unanticipated exchange rate changes.
Foreign currency risk management involves managing two types of risk: systematic and unsystematic risk. Systematic risk affects all investments, such as the market risk, inflation risk and interest rate risk. Unsystematic risk relates to individual events that affect a particular investment, such as the business risk and financial risk. Unsystematic risk can be hedged.
If you are a trader or an investor engaged in day or intra-day trading, you must have a trading strategy at place. Your online broker or trading platform should incorporate risk management features in their trading strategies.
The signals and indicator to be generated must be based on risk analysis. You can join some professional workshop or course on foreign exchange risk management where you can learn the basics. The course should be interactive and customized where you can get your specific queries answered.
It is important that foreign currency risk management begins before the risk exposures and not after it has developed. The risk management course should include practical examples from real life incidents on basis of which you can learn the techniques of decision-making.
For calculating foreign exchange risk factors, you can find many advanced project management software that has integrated risk analysis. You can seek help from financial advisers who monitor, assess and hedge the risk in particular investments and in overall portfolios, depending on the investment objectives of the investor.
The foreign exchange risk management should use market indexes and averages in market analysis. It should consider theories of forex market behavior, including technical fundamental analysis. The risk management methods should periodically review investment objectives like safety, growth, speculation, and should always inform the investor about his or her investments.
The foreign exchange or forex market is one of the largest and most liquid financial markets in the world with a daily transaction of almost 1.5 trillion U.S. dollars. Banks, financial institutions and individual investors, therefore, have huge potential of economic gain as well as losses.
Foreign exchange risk is a potential gain or loss that occurs as a result of a change in exchange rate. In order to minimize the possibility of financial loss, every investor needs to adopt some forex risk management measures.
For minimizing forex risk, one must remember few basic points: (1) value of a currency changes frequently affecting firms and individuals engaged in international transactions; (2) assets, liabilities, and cash flows are affected through changes in the exchange rates.
So the forex market presents risks involving accounting and translation exposure, economic exposure, transaction exposure and real operating exposure.
Transactional exposures involve quite high risk for foreign exchange. Impact of exchange rate fluctuations on present cash flows, export and import, borrowing and lending in foreign currency, all can cause fluctuation in currency rates which should be considered while developing risk management features.
In most currencies there are futures or forward exchange contracts whose prices give indication on expected market prices of the currencies. These contracts can lock in the anticipated change. So the foreign exchange risk arises due to unanticipated exchange rate changes.
Foreign currency risk management involves managing two types of risk: systematic and unsystematic risk. Systematic risk affects all investments, such as the market risk, inflation risk and interest rate risk. Unsystematic risk relates to individual events that affect a particular investment, such as the business risk and financial risk. Unsystematic risk can be hedged.
If you are a trader or an investor engaged in day or intra-day trading, you must have a trading strategy at place. Your online broker or trading platform should incorporate risk management features in their trading strategies.
The signals and indicator to be generated must be based on risk analysis. You can join some professional workshop or course on foreign exchange risk management where you can learn the basics. The course should be interactive and customized where you can get your specific queries answered.
It is important that foreign currency risk management begins before the risk exposures and not after it has developed. The risk management course should include practical examples from real life incidents on basis of which you can learn the techniques of decision-making.
For calculating foreign exchange risk factors, you can find many advanced project management software that has integrated risk analysis. You can seek help from financial advisers who monitor, assess and hedge the risk in particular investments and in overall portfolios, depending on the investment objectives of the investor.
The foreign exchange risk management should use market indexes and averages in market analysis. It should consider theories of forex market behavior, including technical fundamental analysis. The risk management methods should periodically review investment objectives like safety, growth, speculation, and should always inform the investor about his or her investments.
Forex Scalping Methods for Big Consistent Profits
Forex Scalping Methods for Big Consistent Profits
Here we are going to look at Forex Scalping methods and how they aim to achieve big consistent profits from day trading regularly and looking to accumulate small profits each day to build huge profits overtime. Let’s look at forex scalping in more detail.
Forex scalping is more popular than ever and there are numerous forex trading systems and e-books, which claim it works but none of them work, (we will return to this in a minute) as the logic behind forex scalping is totally incorrect.
Why Forex Scalping Can NEVER work longer term
The reason it doesn’t work and never can is simple to understand if you think about it – you need valid data!
Consider this:
Each day trillions of dollars are traded by millions of forex traders and the total of all these opinions come together and give us the price.
The thought that you can tell what all these millions of people will do, in just a few hours is laughable.
You can’t!
Volatility can and does take prices anywhere in short time periods and support and resistance levels are meaningless. If you have no valid data, you will lose and that’s EXACTLY what happens to people who try forex scalping or day trading.
You may be saying:
I have seen the proof it works and seen track records presented by forex scalpers and yes you have – but their NOT real!
See the standard CFTC disclaimer below and you will see why these track records cannot be trusted:
“Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those show”.
So you simulate a track record, knowing the closing prices – how hard is that?
Anyone can do that even a child.
The problem of course is:
We don’t have the luxury of knowing the prices when we trade (shame but that’s life!) so doing it in the real world is a lot harder and for people forex scalping it’s impossible.
That’s why you never see a real track record but a hypothetical one which is simply not worth the paper it’s written on and in most cases is simply made up by the vendors.
Where Are The Real Track Records?
Don’t be fooled advertising copy with statements such as:
“Pick tops and bottoms scientific accuracy” make “50 pips a day” or “trade with 80% accuracy” – this is just ad copy and has no back up.
If you don’t believe me ask for a forex scalping real time track record and you won’t get one - try it and see.
Forex scalping and day trading is a good story, but that’s all it is and try it and you will lose - as you can never get the odds in your favor.
Keep in Mind
Forex trading is a great way to make money but its not easy and a lot of the people who sell the courses and e-books on forex scalping try and make it appear so.
Traders who believe the above need to get in the real world.
How to Win
To win, you need to do your homework and get a forex trading system that gets the odds on your side. This means avoiding forex scalping and day trading and trading data that covers longer time frames that’s valid and allows you to get the odds in your favor.
Here we are going to look at Forex Scalping methods and how they aim to achieve big consistent profits from day trading regularly and looking to accumulate small profits each day to build huge profits overtime. Let’s look at forex scalping in more detail.
Forex scalping is more popular than ever and there are numerous forex trading systems and e-books, which claim it works but none of them work, (we will return to this in a minute) as the logic behind forex scalping is totally incorrect.
Why Forex Scalping Can NEVER work longer term
The reason it doesn’t work and never can is simple to understand if you think about it – you need valid data!
Consider this:
Each day trillions of dollars are traded by millions of forex traders and the total of all these opinions come together and give us the price.
The thought that you can tell what all these millions of people will do, in just a few hours is laughable.
You can’t!
Volatility can and does take prices anywhere in short time periods and support and resistance levels are meaningless. If you have no valid data, you will lose and that’s EXACTLY what happens to people who try forex scalping or day trading.
You may be saying:
I have seen the proof it works and seen track records presented by forex scalpers and yes you have – but their NOT real!
See the standard CFTC disclaimer below and you will see why these track records cannot be trusted:
“Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those show”.
So you simulate a track record, knowing the closing prices – how hard is that?
Anyone can do that even a child.
The problem of course is:
We don’t have the luxury of knowing the prices when we trade (shame but that’s life!) so doing it in the real world is a lot harder and for people forex scalping it’s impossible.
That’s why you never see a real track record but a hypothetical one which is simply not worth the paper it’s written on and in most cases is simply made up by the vendors.
Where Are The Real Track Records?
Don’t be fooled advertising copy with statements such as:
“Pick tops and bottoms scientific accuracy” make “50 pips a day” or “trade with 80% accuracy” – this is just ad copy and has no back up.
If you don’t believe me ask for a forex scalping real time track record and you won’t get one - try it and see.
Forex scalping and day trading is a good story, but that’s all it is and try it and you will lose - as you can never get the odds in your favor.
Keep in Mind
Forex trading is a great way to make money but its not easy and a lot of the people who sell the courses and e-books on forex scalping try and make it appear so.
Traders who believe the above need to get in the real world.
How to Win
To win, you need to do your homework and get a forex trading system that gets the odds on your side. This means avoiding forex scalping and day trading and trading data that covers longer time frames that’s valid and allows you to get the odds in your favor.
Online Forex Trading - Beginners Guide
Online Forex Trading - Beginners Guide
When it comes to forex trading, understanding the terminology and the forex trading strategies before you begin is vital. There are many web based companies that provide online forex trading tutorials that revolve around real time forex trading. Using a forex tutorial will give you the beginner knowledge you need to take part in trading forex.
After you have completed your forex tutorial there are some basic forex trading tips that all beginners will find useful. The most important thing to remember when trading forex and the most important forex trading strategy is to remember to always place stop loss orders. Using this strategy in your online forex trading will help to prevent and limit your losses.
The next important step for online forex trading is to take profit orders at the same time as placing your stop loss orders. This is done by using the OCO order function that is available with most online forex trading systems. Take profit orders work on the same basis as the stop loss orders and help to eliminate the risk of locking into a profit too early.
Another beginner’s tip is to use a positive risk/reward ratio. This means that you should choose the amount you are willing to make on your forex trade beforehand and it should be more than or equal to the amount that you are willing to loose. This tip is essential if you want to be successful in your forex trading.
It is important for any forex trading beginner to note that successful online forex trading takes patience and is a long term investment. It takes controlled forex trading along with discipline and patience to make your forex trading profitable. Continued research and forex tutorials and guides will help you to learn more and remember as with all successful ventures; knowledge equals power.
When it comes to forex trading, understanding the terminology and the forex trading strategies before you begin is vital. There are many web based companies that provide online forex trading tutorials that revolve around real time forex trading. Using a forex tutorial will give you the beginner knowledge you need to take part in trading forex.
After you have completed your forex tutorial there are some basic forex trading tips that all beginners will find useful. The most important thing to remember when trading forex and the most important forex trading strategy is to remember to always place stop loss orders. Using this strategy in your online forex trading will help to prevent and limit your losses.
The next important step for online forex trading is to take profit orders at the same time as placing your stop loss orders. This is done by using the OCO order function that is available with most online forex trading systems. Take profit orders work on the same basis as the stop loss orders and help to eliminate the risk of locking into a profit too early.
Another beginner’s tip is to use a positive risk/reward ratio. This means that you should choose the amount you are willing to make on your forex trade beforehand and it should be more than or equal to the amount that you are willing to loose. This tip is essential if you want to be successful in your forex trading.
It is important for any forex trading beginner to note that successful online forex trading takes patience and is a long term investment. It takes controlled forex trading along with discipline and patience to make your forex trading profitable. Continued research and forex tutorials and guides will help you to learn more and remember as with all successful ventures; knowledge equals power.
วันอังคารที่ 11 พฤศจิกายน พ.ศ. 2551
Finding a Reliable Currency Broker from Forex Review Site
Finding a Reliable Currency Broker from Forex Review Site
Finding a currency broker nowadays can be very simple. What you need to do is to find a Forex review website that provides a deep database of Forex currency brokers. You can use your favorite search engine to look for a website that provides a comprehensive comparison of different Forex brokers. Here are the attributes of a good Forex website you can trust to provide a reliable listing of different Forex currency brokers.
The first thing you have to look for in a Forex review website is the number of brokers available on its database. A good website should have more than a hundred Forex currency brokers on its database. The more brokers you can find on a website, your choices therefore would be wider and more varied. You will be able to compare different currency brokers and choose wisely which among them could become your reliable financial and trading partner.
Another good attribute of a good Forex review website is the existence of live support from its administrators. Even if such site provides free comparison and assistance, it is still a good attribute for them to have live support. This site functionality could be in the form of on-site chat services or Internet call services. It should also have a secure contact page where you can send your queries and concerns via email of through an online web form.
If you find a lively community forum on a Forex review website, then such site could certainly help you in your search for an online Forex currency broker. You can read valuable information from traders and brokers in an online forum. There are also guides and broker list in these forums. So to help refine your search for finding a reliable currency broker, make use of the forum provided by the Forex review site. Don’t forget though to sign up to such site in order to utilize its online forum.
It is also important to find a master list of online Forex currency brokers on the review website. There should be an advanced web form where you can search for brokers using different parameters. These parameters may include location of brokers, trading platforms used, pip spread, leveraging values, and other specific search identifiers. Such advanced features can surely help you in refining your search for a reliable Forex currency broker.
Lastly, a Forex broker review and comparison website should provide you with recommended brokers to trust. It should be displayed prominently on its home page so you can easily find the featured broker listing. The review website should also provide a rating for each broker. These indicators can surely help you in deciding which among the thousands of Forex currency brokers can really provide superior services.
In order to avoid spending too much time searching for a reliable currency broker, simply utilize the services of a Forex review website. It can surely provide valuable assistance to you in refining your search for a trusted Forex broker.
Finding a currency broker nowadays can be very simple. What you need to do is to find a Forex review website that provides a deep database of Forex currency brokers. You can use your favorite search engine to look for a website that provides a comprehensive comparison of different Forex brokers. Here are the attributes of a good Forex website you can trust to provide a reliable listing of different Forex currency brokers.
The first thing you have to look for in a Forex review website is the number of brokers available on its database. A good website should have more than a hundred Forex currency brokers on its database. The more brokers you can find on a website, your choices therefore would be wider and more varied. You will be able to compare different currency brokers and choose wisely which among them could become your reliable financial and trading partner.
Another good attribute of a good Forex review website is the existence of live support from its administrators. Even if such site provides free comparison and assistance, it is still a good attribute for them to have live support. This site functionality could be in the form of on-site chat services or Internet call services. It should also have a secure contact page where you can send your queries and concerns via email of through an online web form.
If you find a lively community forum on a Forex review website, then such site could certainly help you in your search for an online Forex currency broker. You can read valuable information from traders and brokers in an online forum. There are also guides and broker list in these forums. So to help refine your search for finding a reliable currency broker, make use of the forum provided by the Forex review site. Don’t forget though to sign up to such site in order to utilize its online forum.
It is also important to find a master list of online Forex currency brokers on the review website. There should be an advanced web form where you can search for brokers using different parameters. These parameters may include location of brokers, trading platforms used, pip spread, leveraging values, and other specific search identifiers. Such advanced features can surely help you in refining your search for a reliable Forex currency broker.
Lastly, a Forex broker review and comparison website should provide you with recommended brokers to trust. It should be displayed prominently on its home page so you can easily find the featured broker listing. The review website should also provide a rating for each broker. These indicators can surely help you in deciding which among the thousands of Forex currency brokers can really provide superior services.
In order to avoid spending too much time searching for a reliable currency broker, simply utilize the services of a Forex review website. It can surely provide valuable assistance to you in refining your search for a trusted Forex broker.
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