Super Forex Strategies For Trading
by Tyler Ziggler
I wanted to take the time to share with you some super forex strategies for trading. This market just seem to keep growing and as it grows, there is more opportunity for all of us to make a great profit. Even though there are winners and losers in this business, we aren't competing against each other. We can work together to try and ride the waves of currency.
* Apprehension: This can be a very unprofitable state of mind. The reason is simple, doubt. You're just not going to make moves fast enough. When you look at the trade on paper, it could look like a sure thing, but you still don't feel confident enough to make it. You have to triple check your work and all this hesitation can lead to missed opportunities. It will also cause you to make poor decisions while you're in the middle of trades. If your trade goes down, no matter how insignificant, you may pull the plug right away. That's not smart. You have to have some confidence in yourself. Be sure of your decisions and give your trades a reasonable amount of time to perform. This will help you profit over the longterm.
* Control the Gambler Inside You: Inside us all, we have a little gambler that is ready to lose all our money. This state of mind wants to feel the rush of winning, but isn't willing to put in the daunting tasks of figuring things out. It wants to make moves based on gut feelings and and high risk, high reward trades. You need to learn to control this person. If they get out, they'll ruin you. Unfortunately there isn't an easy fix for this. The only thing you can do is identify and eliminate the behavior as it happens.
วันอาทิตย์ที่ 22 มิถุนายน พ.ศ. 2551
Safe Advice For Forex Traders
Safe Advice For Forex Traders
by Tyler Ziggler
I'm going to share with you some safe advice for forex trading. You'll probably notice that everyone has an opinion out there, and it really comes down to you throwing your money out there to see if it works. It doesn't have to be that way, so I thought I'd share a little.
* Demo First, Money Second: I've heard new amazing strategies that are supposed to be a revolution in new profitable forex trading, only to find myself losing money, yet again. Your demo account may not be the best thing, but it can at least give you a second look at a strategy without having to invest your money. If it is free to test out, than there really isn't much to lose. I always try out new strategies on the demo because if you found it on the internet, you probably don't know who gave it. For all you know they could be some teenager, living in their parents basement that never traded forex in their life. Protect yourself and use the demo account first.
* News: The news has an abundance of information that will inevitably effect the market. The problem I used to have is that I'd get involved in a trade, the news would release some announcement and the whole trade was ruined because of it. Anything that is related to the economy will have an effect on currency prices. This type of news is typically announced at specific times in the morning and there is usually something being released everyday. I suggest you start watching CNBC or any other business channel to make sure you know what is going on.
by Tyler Ziggler
I'm going to share with you some safe advice for forex trading. You'll probably notice that everyone has an opinion out there, and it really comes down to you throwing your money out there to see if it works. It doesn't have to be that way, so I thought I'd share a little.
* Demo First, Money Second: I've heard new amazing strategies that are supposed to be a revolution in new profitable forex trading, only to find myself losing money, yet again. Your demo account may not be the best thing, but it can at least give you a second look at a strategy without having to invest your money. If it is free to test out, than there really isn't much to lose. I always try out new strategies on the demo because if you found it on the internet, you probably don't know who gave it. For all you know they could be some teenager, living in their parents basement that never traded forex in their life. Protect yourself and use the demo account first.
* News: The news has an abundance of information that will inevitably effect the market. The problem I used to have is that I'd get involved in a trade, the news would release some announcement and the whole trade was ruined because of it. Anything that is related to the economy will have an effect on currency prices. This type of news is typically announced at specific times in the morning and there is usually something being released everyday. I suggest you start watching CNBC or any other business channel to make sure you know what is going on.
Smart Techniques of Forex Trading
Smart Techniques of Forex Trading
by Tyler Ziggler
I wanted to take the time to share with you some smart techniques of forex trading. The foreign exchange market is the largest and one of the most profitable market places in the world. There is so much potential to profit, even in economic downturns like the one predicted in the United States. I hope to give you a bit of an advantage at this with some techniques I use to help myself.
I think the most important thing to understand is that when you're in a market with very big banks that have a lot of money, you'll notice that they can manipulate the market. It's not to sound "evil" and it's not like they're doing it on purpose. It's the result of supply and demand because they can make trades of huge sums of money. Since there can be a huge change in a currency because of a bank, this isn't good business for you. This means you should be trading at high volume. High volume just means that there are a lot of people and money moving around at this time. Since the volume is so high, supply and demand will remain pretty much unaffected when one big player makes a move.
Another thing you need to learn is how to control your emotions. It can really get unprofitable when you let your emotions make trading decisions rather than logic. The most common forms of this emotional trading are the stressed out frustration and the gut feeling. If you're experiencing stress, get up and away from the computer. You just need sometime to cool off. As for the gut feeling. You just need to learn how to not listen to it.
by Tyler Ziggler
I wanted to take the time to share with you some smart techniques of forex trading. The foreign exchange market is the largest and one of the most profitable market places in the world. There is so much potential to profit, even in economic downturns like the one predicted in the United States. I hope to give you a bit of an advantage at this with some techniques I use to help myself.
I think the most important thing to understand is that when you're in a market with very big banks that have a lot of money, you'll notice that they can manipulate the market. It's not to sound "evil" and it's not like they're doing it on purpose. It's the result of supply and demand because they can make trades of huge sums of money. Since there can be a huge change in a currency because of a bank, this isn't good business for you. This means you should be trading at high volume. High volume just means that there are a lot of people and money moving around at this time. Since the volume is so high, supply and demand will remain pretty much unaffected when one big player makes a move.
Another thing you need to learn is how to control your emotions. It can really get unprofitable when you let your emotions make trading decisions rather than logic. The most common forms of this emotional trading are the stressed out frustration and the gut feeling. If you're experiencing stress, get up and away from the computer. You just need sometime to cool off. As for the gut feeling. You just need to learn how to not listen to it.
The Power of Smart Forex Trading
The Power of Smart Forex Trading
by Tyler Ziggler
I'm here to share with you the power of smart forex trading. This is a terrific market place to get involved in because there is a huge potential to profit. Unlike other markets where people are forced to compete, you'll find traders aren't competing against each other, but trying to ride the waves of a currency. I think this makes this market a much more appealing place for people to make money.
The smartest thing you can do is to make sure you're up to date on all economic news and news that affects the economy. Currency is just paper, it's worthless. The foundation of what holds up a currency is the economy. Anything that affects the economy, will ultimately lead to the price of currnecy.
The most important piece of news you should be paying attention to involves the central bank. They have the challenge of regulating the supply of money to follow supply vs. demand. The problem is that it is difficult task. Since it is difficult, you can expect any move to change the price of the currency. If interest rates are cut, the price of currency will go down. If interest rates are raised, the price of currency will go up.
Other news that is important is economic outlooks and forecasts. You'll often hear these released every month. They include consumer spending, GDP, unemployment, inflation, etc. They all have an affect. If they show good signs for the economy, the currency should go up. If they show bad signs for the economy, the currency should go down.
Lastly, you'll want to follow the other stories that will have an affect on the economy. The most common will be politics and the policies of politicians. Despite your political views, economic policies that restrict economic freedom, raise taxes and increase regulations will inevitably lead to the currency going down. Economic policies that increase economic freedom, lower taxes and decrease regulations will lead to the currency going up.
by Tyler Ziggler
I'm here to share with you the power of smart forex trading. This is a terrific market place to get involved in because there is a huge potential to profit. Unlike other markets where people are forced to compete, you'll find traders aren't competing against each other, but trying to ride the waves of a currency. I think this makes this market a much more appealing place for people to make money.
The smartest thing you can do is to make sure you're up to date on all economic news and news that affects the economy. Currency is just paper, it's worthless. The foundation of what holds up a currency is the economy. Anything that affects the economy, will ultimately lead to the price of currnecy.
The most important piece of news you should be paying attention to involves the central bank. They have the challenge of regulating the supply of money to follow supply vs. demand. The problem is that it is difficult task. Since it is difficult, you can expect any move to change the price of the currency. If interest rates are cut, the price of currency will go down. If interest rates are raised, the price of currency will go up.
Other news that is important is economic outlooks and forecasts. You'll often hear these released every month. They include consumer spending, GDP, unemployment, inflation, etc. They all have an affect. If they show good signs for the economy, the currency should go up. If they show bad signs for the economy, the currency should go down.
Lastly, you'll want to follow the other stories that will have an affect on the economy. The most common will be politics and the policies of politicians. Despite your political views, economic policies that restrict economic freedom, raise taxes and increase regulations will inevitably lead to the currency going down. Economic policies that increase economic freedom, lower taxes and decrease regulations will lead to the currency going up.
5 Things to Look for in a Super Forex Course
5 Things to Look for in a Super Forex Course
by Khalid Seyal
There are no two ways about it; to earn serious money in the Forex Market you must be equipped with the proper tools. Did you know that 95% of traders fail partly because they didn't have the right training or lacked the proper discipline and risk management. I hate to say this but most who choose a Forex Trainer do not know which one is right for them and end up failing and loosing their shirt. Some don't teach you how to do everything you need to know and you end up failing in Demo before you even get to Live trading.
I found out the hard way of course and after spending lots of money on training materials which could've gone on trading but then I would loose that too. The hardest part is choosing the right training of which there are two types out there. One is to sign up for online classes where they spoon feed you with lessons in your inbox or over the net or make you join 'webinar' style lectures. Second option is to travel to nearest city where you attend a classroom with other would be traders. For me personally this is not convenient and I do not want to be sat with other traders for fear of looking stupid infront of the class when not understanding what the Forex tutor is lecturing on about. But it could suit you to attend such courses and meet a Forex Trader face to face and ask questions in person.
What I discovered was learning online is far much better these days as technology has moved on. The biggest thing I found was you can get the same quality of training you get from a classroom in form of Videos and visual aids and learn at your own pace. I found out that most students and fellow traders learn better when they have such material to refer back to until they get the hang of it.
It's not all about technical or fundamental analysis as you have to learn risk management and treat it as a business. Hate to say it but not all Forex Gurus even teach good or proper risk management. They spend too much time on what signals to look out for and what their strategies are.
Whatever type of Forex training course you choose to fit your lifestyle just make sure you choose one that will teach you the basics as well as the more advance stuff. Here is what I discovered - reputation and experience matters when it comes to choosing who to go with. A Forex Mentor will be worth their weight in gold if they can guide you and teach you what you need to know while having access to them for reliable support
by Khalid Seyal
There are no two ways about it; to earn serious money in the Forex Market you must be equipped with the proper tools. Did you know that 95% of traders fail partly because they didn't have the right training or lacked the proper discipline and risk management. I hate to say this but most who choose a Forex Trainer do not know which one is right for them and end up failing and loosing their shirt. Some don't teach you how to do everything you need to know and you end up failing in Demo before you even get to Live trading.
I found out the hard way of course and after spending lots of money on training materials which could've gone on trading but then I would loose that too. The hardest part is choosing the right training of which there are two types out there. One is to sign up for online classes where they spoon feed you with lessons in your inbox or over the net or make you join 'webinar' style lectures. Second option is to travel to nearest city where you attend a classroom with other would be traders. For me personally this is not convenient and I do not want to be sat with other traders for fear of looking stupid infront of the class when not understanding what the Forex tutor is lecturing on about. But it could suit you to attend such courses and meet a Forex Trader face to face and ask questions in person.
What I discovered was learning online is far much better these days as technology has moved on. The biggest thing I found was you can get the same quality of training you get from a classroom in form of Videos and visual aids and learn at your own pace. I found out that most students and fellow traders learn better when they have such material to refer back to until they get the hang of it.
It's not all about technical or fundamental analysis as you have to learn risk management and treat it as a business. Hate to say it but not all Forex Gurus even teach good or proper risk management. They spend too much time on what signals to look out for and what their strategies are.
Whatever type of Forex training course you choose to fit your lifestyle just make sure you choose one that will teach you the basics as well as the more advance stuff. Here is what I discovered - reputation and experience matters when it comes to choosing who to go with. A Forex Mentor will be worth their weight in gold if they can guide you and teach you what you need to know while having access to them for reliable support
วันเสาร์ที่ 21 มิถุนายน พ.ศ. 2551
Forex Trading - What You Need to Learn and Where to Get it FREE
Forex Trading - What You Need to Learn and Where to Get it FREE
by kelly Price
If you want to learn forex trading you don't need to buy forex advice you can get it all from free sources online and here we will show you what to look for and where to get it...
The first point to keep in mind is that you don't buy success - you can buy forex courses and use the knowledge in your own forex trading strategy but you can't blindly follow. To trade forex successfully, you need to have confidence, as this will give you discipline to execute your trading strategy, through short term losses and stay on course to win longer term.
The first thing to do is to locate a good free chart service and we like futuresource.com. It's free and has all the indicators you need and some good free information.
Next you need to learn the basics of "support and resistance" and you can do this by simply typing in the term to a search engine.
By far and the best way to trade is to use "breakouts".
These are as they sound when a price breaks a new high or low on the chart.
These are high odds set ups yet most traders hate them. They want to wait for the price to dip to get in at a better price but of course prices don't dip - they carry on and the trader who waits, misses the trade.
Keep this fact in mind as part of your forex trading education:
Most big moves start from new market highs or lows and these are the trades to focus on.
Next you need to trade valid breakouts.
Not all breakouts are created equally, generally the more tests ( a minimum of 3) in 2 time frames ( the more the better ) and wide apart ( the wider apart the better) is what you are looking for.
Look for breaks of support and resistance which are considered valid by the market.
Now you need to confirm the price break is strong and here you should look at some momentum oscillators (we have covered them in our other articles so look them up) but a good couple to start with are - the "stochastic" and "RSI".
Use these to confirm that price momentum is strengthening through the breakout and if it is execute your trading signal.
Then place your stop below the breakout point - and wait!
The real key is not to trail the stop to quickly otherwise you will get knocked out the market by random volatility - you must understand this concept so look up "standard deviation of price" and oscillator which helps you put it into practice the "Bollinger Band"
Then you need to trail your stop and a good indicator to use is the 40 day Moving Average, so look them up.
The above is the framework of a simple breakout forex trading strategy which is robust and will get you in on all the big trends.
Note: This is a long term forex trading system, designed to trade a few times a month and you need to be selective.
You only want high odds trades and you want to hold them - it's not about excitement it's about making money.
If you are selective, confirm your trades with momentum, then trail your stop correctly, this simple system will work and will continue to work.
Simple sure it is, the best systems are, as they have fewer elements to break than complicated ones in the brutal world of trading and can lead you to long term currency trading success.
by kelly Price
If you want to learn forex trading you don't need to buy forex advice you can get it all from free sources online and here we will show you what to look for and where to get it...
The first point to keep in mind is that you don't buy success - you can buy forex courses and use the knowledge in your own forex trading strategy but you can't blindly follow. To trade forex successfully, you need to have confidence, as this will give you discipline to execute your trading strategy, through short term losses and stay on course to win longer term.
The first thing to do is to locate a good free chart service and we like futuresource.com. It's free and has all the indicators you need and some good free information.
Next you need to learn the basics of "support and resistance" and you can do this by simply typing in the term to a search engine.
By far and the best way to trade is to use "breakouts".
These are as they sound when a price breaks a new high or low on the chart.
These are high odds set ups yet most traders hate them. They want to wait for the price to dip to get in at a better price but of course prices don't dip - they carry on and the trader who waits, misses the trade.
Keep this fact in mind as part of your forex trading education:
Most big moves start from new market highs or lows and these are the trades to focus on.
Next you need to trade valid breakouts.
Not all breakouts are created equally, generally the more tests ( a minimum of 3) in 2 time frames ( the more the better ) and wide apart ( the wider apart the better) is what you are looking for.
Look for breaks of support and resistance which are considered valid by the market.
Now you need to confirm the price break is strong and here you should look at some momentum oscillators (we have covered them in our other articles so look them up) but a good couple to start with are - the "stochastic" and "RSI".
Use these to confirm that price momentum is strengthening through the breakout and if it is execute your trading signal.
Then place your stop below the breakout point - and wait!
The real key is not to trail the stop to quickly otherwise you will get knocked out the market by random volatility - you must understand this concept so look up "standard deviation of price" and oscillator which helps you put it into practice the "Bollinger Band"
Then you need to trail your stop and a good indicator to use is the 40 day Moving Average, so look them up.
The above is the framework of a simple breakout forex trading strategy which is robust and will get you in on all the big trends.
Note: This is a long term forex trading system, designed to trade a few times a month and you need to be selective.
You only want high odds trades and you want to hold them - it's not about excitement it's about making money.
If you are selective, confirm your trades with momentum, then trail your stop correctly, this simple system will work and will continue to work.
Simple sure it is, the best systems are, as they have fewer elements to break than complicated ones in the brutal world of trading and can lead you to long term currency trading success.
Forex Trading Basics - 10 Commonly Held Wisdoms That Will Destroy Your Account
Forex Trading Basics - 10 Commonly Held Wisdoms That Will Destroy Your Account
by kelly Price
There is a lot of good forex trading education on the web and a lot which will ruin you. The 10 so called common wisdoms on how to make money don't. This might be why 95% of traders lose, so avoid them and get the right forex education and win.
1. You can Follow a Forex Robot and Win
You can but there are very few robots that do win.
It's an industry designed to appeal to greed and the fact is most of the robots have never even been traded - they are all simulated in hindsight ( check the disclaimer) and never likely to win going forward, as there simply made up knowing the past - How hard is that? Not very. Pay $100 and make $100,000 a year, is not real life!
2. You need to predict prices to win
Prediction is another word for hoping and guessing and wont get you far and you will find your market timing and you're trading signals are as accurate as your horoscope!
Act on the reality of price change on your forex charts and forget prediction - know one knows the future, so trade the reality and the truth and you will have the odds on your side.
3. Buy low and sell high is a Great Way to Make Money
It would be if you could do it but you can't and you will get involved in prediction and also keep in mind this simple fact - most big trends start from breaks of new market highs, so you need to buy and sell higher, to catch the really big forex trends.
If you are not familiar with breakout trading make it part of your forex education if you do, you will catch all the best moves and be in on the high odds trades
4. You Should see if You Can Win With a Demo Account
You might win with a demo account but what does that prove? Nothing, as real hard cold dollars are not on the line.
There is no pressure and forex trading is a pressure industry. To win you have to trade with the pressure on you and demo accounts don't do this.
5. Learn From Your Losses
Learn what - you lost! Big deal losing is part of the game. If you executed your trading signals in line with your system you learn absolutely nothing, don't bother it's a waste of time
6. Continually Learn
If you have a forex trading strategy that's logical you have confidence in and works - why change it?
We all want perfection but it's not possible. I have used the same system for 22 years and never changed it.
Sure, my forex trading system is not perfect but no ones is; it works and makes money and that's good enough for me.
7. Day trading and Scalping Works
Really? Ever seen a day trader with a track record of real profits?
Exactly, there all simulated profits not real ones, just like the forex robots we referred to earlier.
Forget this form of trading, the data is too short to try and work out what millions of traders will do in a few hours is futile.
8. Only Risk 2% Per Trade
Maybe if you have 100k or more but for small potato investors you can't take such small risks as your account will be destroyed by volatility - look to risk 10 - 20% and trade only high odds sets ups...
Better to risk more on these great trades, than low odds trades with 2%.
Most traders try to avoid risk so much they create it - don't make the same mistake.
9. Diversification Reduces Risk
It also dilutes profit potential. If you have a good high odds trade, don't dilute its potential for profit with low odds trades.
Diversification, if you have 100k plus can work but really it's not a way to make a small accounts equity grow quickly.
10. You Need Information Quickly
Why? It doesn't help you win and never will. Everyone has the information quickly, so you can't respond to it or gain an edge, so don't bother trying.
This is one of the biggest myths of forex trading and will make you lose. Stand back and watch the big picture, not the impact of every short term event.
So there you have some currency trading basics, in terms of wisdoms, that are commonly accepted and you should avoid. keep in mind the majority doesn't win so, what most think is true ...well - You know the answer!
by kelly Price
There is a lot of good forex trading education on the web and a lot which will ruin you. The 10 so called common wisdoms on how to make money don't. This might be why 95% of traders lose, so avoid them and get the right forex education and win.
1. You can Follow a Forex Robot and Win
You can but there are very few robots that do win.
It's an industry designed to appeal to greed and the fact is most of the robots have never even been traded - they are all simulated in hindsight ( check the disclaimer) and never likely to win going forward, as there simply made up knowing the past - How hard is that? Not very. Pay $100 and make $100,000 a year, is not real life!
2. You need to predict prices to win
Prediction is another word for hoping and guessing and wont get you far and you will find your market timing and you're trading signals are as accurate as your horoscope!
Act on the reality of price change on your forex charts and forget prediction - know one knows the future, so trade the reality and the truth and you will have the odds on your side.
3. Buy low and sell high is a Great Way to Make Money
It would be if you could do it but you can't and you will get involved in prediction and also keep in mind this simple fact - most big trends start from breaks of new market highs, so you need to buy and sell higher, to catch the really big forex trends.
If you are not familiar with breakout trading make it part of your forex education if you do, you will catch all the best moves and be in on the high odds trades
4. You Should see if You Can Win With a Demo Account
You might win with a demo account but what does that prove? Nothing, as real hard cold dollars are not on the line.
There is no pressure and forex trading is a pressure industry. To win you have to trade with the pressure on you and demo accounts don't do this.
5. Learn From Your Losses
Learn what - you lost! Big deal losing is part of the game. If you executed your trading signals in line with your system you learn absolutely nothing, don't bother it's a waste of time
6. Continually Learn
If you have a forex trading strategy that's logical you have confidence in and works - why change it?
We all want perfection but it's not possible. I have used the same system for 22 years and never changed it.
Sure, my forex trading system is not perfect but no ones is; it works and makes money and that's good enough for me.
7. Day trading and Scalping Works
Really? Ever seen a day trader with a track record of real profits?
Exactly, there all simulated profits not real ones, just like the forex robots we referred to earlier.
Forget this form of trading, the data is too short to try and work out what millions of traders will do in a few hours is futile.
8. Only Risk 2% Per Trade
Maybe if you have 100k or more but for small potato investors you can't take such small risks as your account will be destroyed by volatility - look to risk 10 - 20% and trade only high odds sets ups...
Better to risk more on these great trades, than low odds trades with 2%.
Most traders try to avoid risk so much they create it - don't make the same mistake.
9. Diversification Reduces Risk
It also dilutes profit potential. If you have a good high odds trade, don't dilute its potential for profit with low odds trades.
Diversification, if you have 100k plus can work but really it's not a way to make a small accounts equity grow quickly.
10. You Need Information Quickly
Why? It doesn't help you win and never will. Everyone has the information quickly, so you can't respond to it or gain an edge, so don't bother trying.
This is one of the biggest myths of forex trading and will make you lose. Stand back and watch the big picture, not the impact of every short term event.
So there you have some currency trading basics, in terms of wisdoms, that are commonly accepted and you should avoid. keep in mind the majority doesn't win so, what most think is true ...well - You know the answer!
Forex Training - You Need it - But Don't Use These Sources
Forex Training - You Need it - But Don't Use These Sources
by Sonia Kristina
Forex training you need it to succeed, its what prepares you for the brutal world of currency trading - lucrative but deadly only the strong survive so you need to be trained right and here are some common sources traders use and you should not...
In no particular order of importance there all best to avoid!
1. Forex Forums
If you want to find losers go to a forum. No serious trader takes time to hang around them, it's the losers who want to stoke their egos, and they can't trade themselves so they pass on their "wisdom" to others to lose with them!
The other people who hang around forums are vendors giving you impartial advice which just so happens if you buy their product, your problems are solved!
2. Forex Robots
I always see adverts for these and how they will automatically make money, so no training required!
Then I see I have to train myself on the software (that's not a robot to me!) and then I see the track record presented has been made up in hindsight knowing the closing prices. Perhaps this isn't such a great way to learn!
Always wondered why vendors sold software for hundred dollars and you could make 100k a year - damn was hoping to give up work!
3. Any Day Trading or Scalping Course
Unlimited profits, regular income small risk sounds good?
Yes it does, if it were true but these people who teach day trading lose as well.
The reason is obvious - all short term movements within a few hours are random and you cant tell what millions of traders will do so don't try. Day trading is a good story and so is James Bond but it's not reality, so maybe I Will give this a miss to.
4. Experts on the News
I always see these guys confident and telling me convincing stories about what will happen next and always wondered, if their that good why aren't they traders?
You can't trade news, that's why markets collapse when there most bullish and rally when there most bearish. News reflects the herd and the herd always losses. Will Rogers once said:
"I only believe what I read in the papers"
He was joking of course - but how many people see a news story, try and trade it and lose? Lots of them.
Scientific Theories
Lots of the these and they sound great! Human nature is constant so it must conform to a law and if you know the law you can win all the time by predicting in advance. The far out investment crowd love these theories and they teach the wisdom of Gann ( who made and lost a fortune) Elliot ( who died poor) and Fibonacci ( who worked out a theory based on the copulation of rabbits which was never intended to be used for forex trading) and tell you that your on the road to knowing how the markets really work.
Problem is - if a law worked all the time, everyone would know the answer is advance and there would be no market - markets move on uncertainty NOT certainty. Human nature maybe constant but were all different and as a vast mass do not conform to scientific theory.
So now you know where not to get your forex training where should you get it?
There are plenty of good free sources online and also you can pop to your bookstore or Amazon and get a few books, by traders who have walked the walk rather than simply talk the talk.
Don't fall for the numerous forex educational sources the bulk of losers do. Learn currency trading the right way and get on the road to currency trading success!
by Sonia Kristina
Forex training you need it to succeed, its what prepares you for the brutal world of currency trading - lucrative but deadly only the strong survive so you need to be trained right and here are some common sources traders use and you should not...
In no particular order of importance there all best to avoid!
1. Forex Forums
If you want to find losers go to a forum. No serious trader takes time to hang around them, it's the losers who want to stoke their egos, and they can't trade themselves so they pass on their "wisdom" to others to lose with them!
The other people who hang around forums are vendors giving you impartial advice which just so happens if you buy their product, your problems are solved!
2. Forex Robots
I always see adverts for these and how they will automatically make money, so no training required!
Then I see I have to train myself on the software (that's not a robot to me!) and then I see the track record presented has been made up in hindsight knowing the closing prices. Perhaps this isn't such a great way to learn!
Always wondered why vendors sold software for hundred dollars and you could make 100k a year - damn was hoping to give up work!
3. Any Day Trading or Scalping Course
Unlimited profits, regular income small risk sounds good?
Yes it does, if it were true but these people who teach day trading lose as well.
The reason is obvious - all short term movements within a few hours are random and you cant tell what millions of traders will do so don't try. Day trading is a good story and so is James Bond but it's not reality, so maybe I Will give this a miss to.
4. Experts on the News
I always see these guys confident and telling me convincing stories about what will happen next and always wondered, if their that good why aren't they traders?
You can't trade news, that's why markets collapse when there most bullish and rally when there most bearish. News reflects the herd and the herd always losses. Will Rogers once said:
"I only believe what I read in the papers"
He was joking of course - but how many people see a news story, try and trade it and lose? Lots of them.
Scientific Theories
Lots of the these and they sound great! Human nature is constant so it must conform to a law and if you know the law you can win all the time by predicting in advance. The far out investment crowd love these theories and they teach the wisdom of Gann ( who made and lost a fortune) Elliot ( who died poor) and Fibonacci ( who worked out a theory based on the copulation of rabbits which was never intended to be used for forex trading) and tell you that your on the road to knowing how the markets really work.
Problem is - if a law worked all the time, everyone would know the answer is advance and there would be no market - markets move on uncertainty NOT certainty. Human nature maybe constant but were all different and as a vast mass do not conform to scientific theory.
So now you know where not to get your forex training where should you get it?
There are plenty of good free sources online and also you can pop to your bookstore or Amazon and get a few books, by traders who have walked the walk rather than simply talk the talk.
Don't fall for the numerous forex educational sources the bulk of losers do. Learn currency trading the right way and get on the road to currency trading success!
Forex Tips and Tricks
Forex Tips and Tricks
by Phillip Collinsworth
Forex trading is essentially the buying and selling of currencies from around the world on a centralized foreign exchange system. The basic means of making money in this area is to capture the differentials in currency prices.
For example, if you purchased Japanese Yen you may be able to trade 104 Yen for every dollar. If the Yen then moves up in value against the dollar, you can buy back into the dollar at a better exchange rate.
Foreign currency trading is done in lots of $100,000. While this sounds daunting, the foreign exchange system allows high margin rates. Of course, margin increases your exposure to loss, so you really have to know what you are doing.
One recommended way to get around this is to trade a mini-Forex account, and to use a Forex trading software package. This option allows you to trade in $10,000 lots. Therefore, with the high margin allowances in the Forex, you could make trades with as little as $100. One cautionary note about small trade sizes however, is that you will need bigger pip differentials to make a decent profit.
Currencies fluctuate for a variety of reasons, and predicting these fluctuations can be accomplished with technical analysis, and observation of current events, politics, and the economy of the country whose currency you are interested in. Many traders choose to focus their efforts on one foreign currency and look for buy and sell signals by trading the dips and swells of that currency.
As you gain exposure to the Forex business you will notice the frequent use of the word "pip." The Forex market trades currency prices in pips. A pip means "percentage in point." In the Forex world this pertains to the fourth decimal point, which is equal to 1/100th of 1%.
Forex trading can be complex, so again, advanced training is highly recommended for new traders. Overall, here are some common Forex tricks and tips to get you started:
· Use a 15-minute chart to monitor dips and swells.
· The majority of currency trading focuses on the following currencies: U.S. Dollar, Japanese Yen, Euro, British Pound Sterling, Swiss Franc, and the Australian Dollar.
· As you gain experience you will not for bigger pip spreads in your exchange differentials. A pip spread of 20 is generally considered a good trade.
· Normal technical analysis techniques you may have used in stocks do not necessarily work in currencies. You will need to learn technical analysis specifically designed for Forex.
· Minimize losses by setting stop-loss orders.
· Be careful how you interpret tips and your gut instinct. Learn to base your trade decisions on verifiable facts.
Forex, options and futures trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.
Don't trade with money you can't afford to lose.
Do you want to discover the secret to making huge profits in the stock market?
by Phillip Collinsworth
Forex trading is essentially the buying and selling of currencies from around the world on a centralized foreign exchange system. The basic means of making money in this area is to capture the differentials in currency prices.
For example, if you purchased Japanese Yen you may be able to trade 104 Yen for every dollar. If the Yen then moves up in value against the dollar, you can buy back into the dollar at a better exchange rate.
Foreign currency trading is done in lots of $100,000. While this sounds daunting, the foreign exchange system allows high margin rates. Of course, margin increases your exposure to loss, so you really have to know what you are doing.
One recommended way to get around this is to trade a mini-Forex account, and to use a Forex trading software package. This option allows you to trade in $10,000 lots. Therefore, with the high margin allowances in the Forex, you could make trades with as little as $100. One cautionary note about small trade sizes however, is that you will need bigger pip differentials to make a decent profit.
Currencies fluctuate for a variety of reasons, and predicting these fluctuations can be accomplished with technical analysis, and observation of current events, politics, and the economy of the country whose currency you are interested in. Many traders choose to focus their efforts on one foreign currency and look for buy and sell signals by trading the dips and swells of that currency.
As you gain exposure to the Forex business you will notice the frequent use of the word "pip." The Forex market trades currency prices in pips. A pip means "percentage in point." In the Forex world this pertains to the fourth decimal point, which is equal to 1/100th of 1%.
Forex trading can be complex, so again, advanced training is highly recommended for new traders. Overall, here are some common Forex tricks and tips to get you started:
· Use a 15-minute chart to monitor dips and swells.
· The majority of currency trading focuses on the following currencies: U.S. Dollar, Japanese Yen, Euro, British Pound Sterling, Swiss Franc, and the Australian Dollar.
· As you gain experience you will not for bigger pip spreads in your exchange differentials. A pip spread of 20 is generally considered a good trade.
· Normal technical analysis techniques you may have used in stocks do not necessarily work in currencies. You will need to learn technical analysis specifically designed for Forex.
· Minimize losses by setting stop-loss orders.
· Be careful how you interpret tips and your gut instinct. Learn to base your trade decisions on verifiable facts.
Forex, options and futures trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.
Don't trade with money you can't afford to lose.
Do you want to discover the secret to making huge profits in the stock market?
Learning to Trade Forex: For Rookies
Learning to Trade Forex: For Rookies
by Johnnie Siu
If you're interested in learning to trade Forex, you're in good company. It's not tough to get started trading on the Currency Exchange market, but there are some things you'll need to learn before you get started, particularly the history of the currency exchange market and all of the factors which lead the currency exchange rates globally. There's a lot of information for beginners in Forex trading on the web, but this is fragmented into a useful piece here and there - and the internet is also wife with misinformation which can make learning to trade Forex challenging. Yet, there are good resources online also. If you want to learn to trade Currency successfully online, read on!
Trading Currency online will involve doing some homework - and with so much misinformation out there, you must be careful around where this information comes from. As they always tell you, don't believe everything you read. Not having the right information at hand for your Currency Exchange trading venture could mean disastrous results. good, solid information on the market is what you need when learning to trade Forex.
Just like any other kind of home-based online investment business, online trading forex is a field around which a lot of faulty information exists. If you are still learning to trade Forex, this can be very confusing. How can you tell good information put out there by a bona fide authority on the market from misinformation or outdated figures given by well intentioned but misinformed Currency traders or worse yet, unscrupulous operators? The true Currency Exchange experts do have websites; it is just a matter of finding them, navigating this sea of Currency trading information is another part of learning to trade Forex. To make the most of this market, you need the latest, up to the minute information on currency rates and factors affecting the market - and reliable sources for this vital data do exist. If you want to make your online Forex trading career a success, this is the kind of information you'll need.
Again, trading Currency online is feasible - but learning to trade Forex does have some challenges. With good information on your side, you can make a very good wealth from trading in the global currency exchange; bad information can lose you money, so choose carefully. To get started learning to trade Forex, do your research and find a source of market information you can trust.
by Johnnie Siu
If you're interested in learning to trade Forex, you're in good company. It's not tough to get started trading on the Currency Exchange market, but there are some things you'll need to learn before you get started, particularly the history of the currency exchange market and all of the factors which lead the currency exchange rates globally. There's a lot of information for beginners in Forex trading on the web, but this is fragmented into a useful piece here and there - and the internet is also wife with misinformation which can make learning to trade Forex challenging. Yet, there are good resources online also. If you want to learn to trade Currency successfully online, read on!
Trading Currency online will involve doing some homework - and with so much misinformation out there, you must be careful around where this information comes from. As they always tell you, don't believe everything you read. Not having the right information at hand for your Currency Exchange trading venture could mean disastrous results. good, solid information on the market is what you need when learning to trade Forex.
Just like any other kind of home-based online investment business, online trading forex is a field around which a lot of faulty information exists. If you are still learning to trade Forex, this can be very confusing. How can you tell good information put out there by a bona fide authority on the market from misinformation or outdated figures given by well intentioned but misinformed Currency traders or worse yet, unscrupulous operators? The true Currency Exchange experts do have websites; it is just a matter of finding them, navigating this sea of Currency trading information is another part of learning to trade Forex. To make the most of this market, you need the latest, up to the minute information on currency rates and factors affecting the market - and reliable sources for this vital data do exist. If you want to make your online Forex trading career a success, this is the kind of information you'll need.
Again, trading Currency online is feasible - but learning to trade Forex does have some challenges. With good information on your side, you can make a very good wealth from trading in the global currency exchange; bad information can lose you money, so choose carefully. To get started learning to trade Forex, do your research and find a source of market information you can trust.
วันพุธที่ 18 มิถุนายน พ.ศ. 2551
Forex Myths - a Top 10 Which to Avoid Or You Will Lose!
Forex Myths - a Top 10 Which to Avoid Or You Will Lose!
by kelly Price
Most novice traders fall victim to these top 10 forex myths and if you believe any of them then you're destined to lose...
1. Forex Robot Track Records are Real
How many do you see that are? Not many most are meaningless simulations in hindsight on paper knowing the closing prices and traders wonder why they don't get rich for their few hundred dollars invested. Some robots work but always beware of the back tested track record and remember - if you go to shop they don't accept imaginary money, they accept real money!
2. Forex Day Trading Works
Well I see lots of people who claim it does but never see the evidence; normally you get a paper track record in hindsight. Fact is you cannot measure what millions of traders will do in a few hours so don't try - all volatility within a day is random and that's why you are destined to lose
3. Forex Scalping Works
Simply a more extreme way of trading than the above - lets try and assume what millions of traders will do trading a chart measured in minutes - umm.
4. You can Predict Forex Prices
Try it and you will find you are as accurate as your horoscope and its less fun. Of course, people will tell you there is a scientific theory of market movement - well if there was, we would all know the price in advance and there would be no market. Markets move because of uncertainty NOT certainty.
5. You Can Trade the News
If this is the case why do markets rally when there most bearish and collapsese when there most bullish? Simple, it's not the news that's important it's the way investors perceive it that is and the event by itself is unimportant - you need to consider markets move on sentiment not facts.
6. Complex Forex Systems Beat Simple Ones
If this is the case why do we still have the same ratio of losers to winners we did 50 years ago with all the advances in technology and forecasting? Complex systems are not better than simple ones, as they are not so robust and have more elements to break, in the brutal real world of trading.
7. The More You Trade the More You Make
Day traders and scalpers believe this and lose. Fact is the big high odds trades don't come around very often and you need to wait for them. You don't get rewarded for trading often, you get rewarded for being right with your trading signal and that's it.
8. Your Risk is Your Target Minus Your Stop
No its not - that's in your head and your opinion and nothing more. Most traders do this and most lose there is no correlation between the two.
9. Forex Trading is Easy
Easy to learn yes , anyone can do it but most lose. This is because forex trading is a unique combination of method and the mindset to accept responsibility, have confidence and trade with discipline. If you think forex trading is easy, think again. It's not and that's why most traders fail. Sure you can make a lot of money, but you need to pay your dues and get the right forex education.
10. You Can Follow Someone Else to Success
Just as in other ventures in life you cant. If a person is telling you he can make you rich, with no effort, chances are he is not telling the truth. In forex trading you have to accept responsibility, trade with confidence and discipline and you're on your own.
The above forex myths are all common and you need to avoid them, to win and enjoy long term currency trading success. So, get the right forex education, adopt the right mindset work smart and you can make a lot of money and enjoy a great second or life changing income.
by kelly Price
Most novice traders fall victim to these top 10 forex myths and if you believe any of them then you're destined to lose...
1. Forex Robot Track Records are Real
How many do you see that are? Not many most are meaningless simulations in hindsight on paper knowing the closing prices and traders wonder why they don't get rich for their few hundred dollars invested. Some robots work but always beware of the back tested track record and remember - if you go to shop they don't accept imaginary money, they accept real money!
2. Forex Day Trading Works
Well I see lots of people who claim it does but never see the evidence; normally you get a paper track record in hindsight. Fact is you cannot measure what millions of traders will do in a few hours so don't try - all volatility within a day is random and that's why you are destined to lose
3. Forex Scalping Works
Simply a more extreme way of trading than the above - lets try and assume what millions of traders will do trading a chart measured in minutes - umm.
4. You can Predict Forex Prices
Try it and you will find you are as accurate as your horoscope and its less fun. Of course, people will tell you there is a scientific theory of market movement - well if there was, we would all know the price in advance and there would be no market. Markets move because of uncertainty NOT certainty.
5. You Can Trade the News
If this is the case why do markets rally when there most bearish and collapsese when there most bullish? Simple, it's not the news that's important it's the way investors perceive it that is and the event by itself is unimportant - you need to consider markets move on sentiment not facts.
6. Complex Forex Systems Beat Simple Ones
If this is the case why do we still have the same ratio of losers to winners we did 50 years ago with all the advances in technology and forecasting? Complex systems are not better than simple ones, as they are not so robust and have more elements to break, in the brutal real world of trading.
7. The More You Trade the More You Make
Day traders and scalpers believe this and lose. Fact is the big high odds trades don't come around very often and you need to wait for them. You don't get rewarded for trading often, you get rewarded for being right with your trading signal and that's it.
8. Your Risk is Your Target Minus Your Stop
No its not - that's in your head and your opinion and nothing more. Most traders do this and most lose there is no correlation between the two.
9. Forex Trading is Easy
Easy to learn yes , anyone can do it but most lose. This is because forex trading is a unique combination of method and the mindset to accept responsibility, have confidence and trade with discipline. If you think forex trading is easy, think again. It's not and that's why most traders fail. Sure you can make a lot of money, but you need to pay your dues and get the right forex education.
10. You Can Follow Someone Else to Success
Just as in other ventures in life you cant. If a person is telling you he can make you rich, with no effort, chances are he is not telling the truth. In forex trading you have to accept responsibility, trade with confidence and discipline and you're on your own.
The above forex myths are all common and you need to avoid them, to win and enjoy long term currency trading success. So, get the right forex education, adopt the right mindset work smart and you can make a lot of money and enjoy a great second or life changing income.
Forex Robots - This One Makes Great Profits and Even Better It's Free!
Forex Robots - This One Makes Great Profits and Even Better It's Free!
by kelly Price
Many traders want a forex robot that works and enclosed you will find one that is and it won't cost you a dollar, yet it will out perform over 95% of the robots sold online. Here it is take a look.
Mechanical forex trading systems sold tend to destroy accounts. This is because the track record the forex trader buys is never real, it's a paper exercise done in hindsight and normally carries this warning:
"CFTC RULE 4.41 - 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 shown".
The system has never made real money and paper money means nothing, as you can't spend that in the supermarket.
These robots are curve fitted i.e. the rules are bent to fit the data and produce a profit.
Data never replicates itself in the exact sequence again and the system takes a bath.
Now were going to look at a simple forex trading system which cannot be curve fitted by its very nature (as it's only one rule) and has been traded by savvy traders for over 20 years and continually produces great long term profits.
It works on any trending market and of course, currencies are one of the best markets for trends.
Here is the system:
Buy a new 4 week high and sell a new 4 week market low.
That's it. Very simple and it's very profitable as it's based on 2 core foundations that will never change:
1. Big forex trends last a long time 2. Breakouts are where most new trends start from
Don't assume because its simple it doesn't make big gains it does.
You can easily test it and see.
Simple forex trading systems always work best, because they are very robust with fewer elements to break than complicated ones.
This is easily proven by looking at all the advances we have seen in forecasting in the last 20 years - we have quicker prices, more powerful computers (your desk top computer has more processing power than the computer that landed man on the moon!) and more complex theories - but has this changed the success ratio in trading?
Not at all.
95% still lose and 5% win and this will always be the case.
Does the system have a downside?
Yes it does when forex markets trend sideways it will get chopped and incur drawdown.
Here you can alter the exit and exit on a 1 or 2 week stop, then go flat and wait for the next 4 week trading signal to get you back in.
Not many traders will bother with this system though and it's not because it doesn't make money, it's because they perceive complexity helps them.
After all, a neural network or system based on chaos theory sounds like it should make money and makes them feel they have technology on their side - but the above system will beat most of these more complex systems hands down.
I once made the mistake of buying a system off an ex NASA engineer and felt it would help the result it wiped my equity out in two weeks!
The 4 Week Rule on the other hand, I have used for 20 odd years and its done great - some periods of drawdown (but all systems have them) and a thumping profit.
To run this system you need tremendous discipline, as it's not fussy about market timing and it's brutally mechanical but if you have discipline then it will work a treat.
So before you buy a forex robot which hasn't been proven try this one - it's been used by some of the world's top traders, is easy to understand apply and can lead you to currency trading success.
Check it out and keep in mind it won't cost you anything to test and it you will surprised at how much money it can make if executed with discipline and with an eye on long term performance.
by kelly Price
Many traders want a forex robot that works and enclosed you will find one that is and it won't cost you a dollar, yet it will out perform over 95% of the robots sold online. Here it is take a look.
Mechanical forex trading systems sold tend to destroy accounts. This is because the track record the forex trader buys is never real, it's a paper exercise done in hindsight and normally carries this warning:
"CFTC RULE 4.41 - 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 shown".
The system has never made real money and paper money means nothing, as you can't spend that in the supermarket.
These robots are curve fitted i.e. the rules are bent to fit the data and produce a profit.
Data never replicates itself in the exact sequence again and the system takes a bath.
Now were going to look at a simple forex trading system which cannot be curve fitted by its very nature (as it's only one rule) and has been traded by savvy traders for over 20 years and continually produces great long term profits.
It works on any trending market and of course, currencies are one of the best markets for trends.
Here is the system:
Buy a new 4 week high and sell a new 4 week market low.
That's it. Very simple and it's very profitable as it's based on 2 core foundations that will never change:
1. Big forex trends last a long time 2. Breakouts are where most new trends start from
Don't assume because its simple it doesn't make big gains it does.
You can easily test it and see.
Simple forex trading systems always work best, because they are very robust with fewer elements to break than complicated ones.
This is easily proven by looking at all the advances we have seen in forecasting in the last 20 years - we have quicker prices, more powerful computers (your desk top computer has more processing power than the computer that landed man on the moon!) and more complex theories - but has this changed the success ratio in trading?
Not at all.
95% still lose and 5% win and this will always be the case.
Does the system have a downside?
Yes it does when forex markets trend sideways it will get chopped and incur drawdown.
Here you can alter the exit and exit on a 1 or 2 week stop, then go flat and wait for the next 4 week trading signal to get you back in.
Not many traders will bother with this system though and it's not because it doesn't make money, it's because they perceive complexity helps them.
After all, a neural network or system based on chaos theory sounds like it should make money and makes them feel they have technology on their side - but the above system will beat most of these more complex systems hands down.
I once made the mistake of buying a system off an ex NASA engineer and felt it would help the result it wiped my equity out in two weeks!
The 4 Week Rule on the other hand, I have used for 20 odd years and its done great - some periods of drawdown (but all systems have them) and a thumping profit.
To run this system you need tremendous discipline, as it's not fussy about market timing and it's brutally mechanical but if you have discipline then it will work a treat.
So before you buy a forex robot which hasn't been proven try this one - it's been used by some of the world's top traders, is easy to understand apply and can lead you to currency trading success.
Check it out and keep in mind it won't cost you anything to test and it you will surprised at how much money it can make if executed with discipline and with an eye on long term performance.
Forex Trading - Trading Like a Pro From Home in Simple Steps
Forex Trading - Trading Like a Pro From Home in Simple Steps
by kelly Price
Forex trading is all about working smart not working hard. You can trade like a pro within a few weeks, if you get yourself the right forex education and adopt the right mindset. Here we will look at how to trade like a professional forex trader in simple steps...
Here they are and they will give you a head start on the road to currency trading success.
1. Accept Responsibility
Forget all the gurus and mentors and robots that say they will make you rich they won't.
You're on your own and need to accept responsibility for your actions. You need to get the right education, have confidence in it and apply it with discipline.
2. A Simple Forex Trading System
Is all you need and they work better than complicated ones, as they are easy to understand, apply and have fewer elements to break.
You should trade longer term trends not the short term noise (forget forex scalping or day trading) and focus on swing trading and long term trend following.
If you're a novice a good place to start is with a breakout system - breakouts work and will continue to work and are a great tool for profits.
3. Accept Risk Cheerfully
If you don't like taking risks forget forex trading it's risky and the difference between success and failure is knowing when to risk and how big to bet.
Many traders try to avoid risk so much they actually create it, by having their stops to close and guarantee themselves a loss - sure they have a small lose but their guaranteed to be wiped out.
When the opportunity arises take a bigger risk and you will be well rewarded, if you play the odds.
4. Discipline is the Key
If you don't have discipline you wont ever win at forex trading and that's why you have to learn and trade yourself as this gives you confidence to stick with your trading system through short term losses and not deviate from your path.
Always keep in mind, if you don't have the discipline to execute a trading system - you don't have one!
5. Know Your Trading Edge!
If you want to win you need a trading edge.
This is the edge you have over the 95% of traders who lose and is specific to your forex trading strategy.
If you don't know what your edge is you don't have one and you need to continue with your forex trading education until you do.
6. It Looks Easy - But Requires a Different Mindset
Forex trading is easy to learn and anyone can do it but most traders fail because they don't have the right mindset for success - you need a completely different mindset in forex trading compared with other professions.
For example, in society the harder you work the more you get out - this is not so in forex trading, also it's best to be with the majority in real life but in forex trading you need to be with the minority.
Also you are dealing in a world where you create your own rules to survive by, that's why you need to do it on your own. In society you simply follow the rules.
Forex trading involves taking responsibility for your destiny and is like no other venture in terms of the demands it makes on your mind. If you understand this and think you can stand on your own and be confident and disciplined, then it's likely you will make a great professional forex trader and enjoy currency trading success.
by kelly Price
Forex trading is all about working smart not working hard. You can trade like a pro within a few weeks, if you get yourself the right forex education and adopt the right mindset. Here we will look at how to trade like a professional forex trader in simple steps...
Here they are and they will give you a head start on the road to currency trading success.
1. Accept Responsibility
Forget all the gurus and mentors and robots that say they will make you rich they won't.
You're on your own and need to accept responsibility for your actions. You need to get the right education, have confidence in it and apply it with discipline.
2. A Simple Forex Trading System
Is all you need and they work better than complicated ones, as they are easy to understand, apply and have fewer elements to break.
You should trade longer term trends not the short term noise (forget forex scalping or day trading) and focus on swing trading and long term trend following.
If you're a novice a good place to start is with a breakout system - breakouts work and will continue to work and are a great tool for profits.
3. Accept Risk Cheerfully
If you don't like taking risks forget forex trading it's risky and the difference between success and failure is knowing when to risk and how big to bet.
Many traders try to avoid risk so much they actually create it, by having their stops to close and guarantee themselves a loss - sure they have a small lose but their guaranteed to be wiped out.
When the opportunity arises take a bigger risk and you will be well rewarded, if you play the odds.
4. Discipline is the Key
If you don't have discipline you wont ever win at forex trading and that's why you have to learn and trade yourself as this gives you confidence to stick with your trading system through short term losses and not deviate from your path.
Always keep in mind, if you don't have the discipline to execute a trading system - you don't have one!
5. Know Your Trading Edge!
If you want to win you need a trading edge.
This is the edge you have over the 95% of traders who lose and is specific to your forex trading strategy.
If you don't know what your edge is you don't have one and you need to continue with your forex trading education until you do.
6. It Looks Easy - But Requires a Different Mindset
Forex trading is easy to learn and anyone can do it but most traders fail because they don't have the right mindset for success - you need a completely different mindset in forex trading compared with other professions.
For example, in society the harder you work the more you get out - this is not so in forex trading, also it's best to be with the majority in real life but in forex trading you need to be with the minority.
Also you are dealing in a world where you create your own rules to survive by, that's why you need to do it on your own. In society you simply follow the rules.
Forex trading involves taking responsibility for your destiny and is like no other venture in terms of the demands it makes on your mind. If you understand this and think you can stand on your own and be confident and disciplined, then it's likely you will make a great professional forex trader and enjoy currency trading success.
Robot Trading Forex - You Can Build It!
Robot Trading Forex - You Can Build It!
by Steve Fleming
To some the idea of an automatic trading robot that will monitor the Forex market while you sit in your comfortable armchair sipping your ice cold beer is something only seen in a science fiction movie. To others it's the way they choose to trade the markets each and every day.
I have been a professional trader for almost two years and for the majority of that time I've traded using nothing but an automatic robot system or expert advisor as it's more commonly known. This style of trading suits me and my lifestyle. I can't always be monitoring the computer screen to watch my trades as I have other commitments. I also tend to suffer from all the same human emotions that afflict the majority of traders. Greed, fear, uncertainty, frustration...the list is endless.
Now I'm using my automated system all those things are a thing of the past.
Robot trading isn't for everyone and it's certainly not the "Holy Grail" that most novice traders are looking for but it does have many benefits.
Here are just 5 of the reasons why I and many other people are using Robot trading systems.
1. A robot follows a specified strategy EXACTLY with absolutely no deviation.
2. A robot can be programmed with logic to enable it to follow proper money management rules. It can calculate the exact size lots to trade in milliseconds.
3. An automated trading robot is a relatively simple application to write and can be accomplished by pretty much anybody with just a short amount of training.
4. A robot can sit on a remote computer which means you don't have to worry about power outages, computer failure or even the kids accidentally pulling the plug out of your machine just at that crucial moment.
5. You can learn how to create your own automated trading system by following a short e-course.
by Steve Fleming
To some the idea of an automatic trading robot that will monitor the Forex market while you sit in your comfortable armchair sipping your ice cold beer is something only seen in a science fiction movie. To others it's the way they choose to trade the markets each and every day.
I have been a professional trader for almost two years and for the majority of that time I've traded using nothing but an automatic robot system or expert advisor as it's more commonly known. This style of trading suits me and my lifestyle. I can't always be monitoring the computer screen to watch my trades as I have other commitments. I also tend to suffer from all the same human emotions that afflict the majority of traders. Greed, fear, uncertainty, frustration...the list is endless.
Now I'm using my automated system all those things are a thing of the past.
Robot trading isn't for everyone and it's certainly not the "Holy Grail" that most novice traders are looking for but it does have many benefits.
Here are just 5 of the reasons why I and many other people are using Robot trading systems.
1. A robot follows a specified strategy EXACTLY with absolutely no deviation.
2. A robot can be programmed with logic to enable it to follow proper money management rules. It can calculate the exact size lots to trade in milliseconds.
3. An automated trading robot is a relatively simple application to write and can be accomplished by pretty much anybody with just a short amount of training.
4. A robot can sit on a remote computer which means you don't have to worry about power outages, computer failure or even the kids accidentally pulling the plug out of your machine just at that crucial moment.
5. You can learn how to create your own automated trading system by following a short e-course.
วันจันทร์ที่ 16 มิถุนายน พ.ศ. 2551
Trading Forex- dollar and inflation.
Trading Forex- dollar and inflation.
by Mike P. Kulej
For a number of years US economy has enjoyed a relatively low inflation rate. According to official statements, annualized inflation over last decade or so has been in very low single digits. Depending on the source and method of calculation, the rate has been about 2. That is despite massive infusion of funds into the economy in the form of very low interest rates.
That course of action has been long supported by US financial authorities, the FED. For years the central bank has been concerned with growth, doing everything it could to fight economic slow down and stagnation. It was done in the form of cutting interest rates and seemingly endless liquidity increase. Let's not forget about lending hand in order to bail out large financial institutions from the masses their questionable practises created. In fact, month after month we have been treated to speeches that inflation is under control and not a threat. Until now.
Published inflation figures pertain to the so called "core inflation", compilation of prices on consumer goods, which excludes food and energy. Runaway cost increases in oil/gas and main food commodities are finally being reflected in the number, as their effects trickle down to other areas of consumer goods. Some of the newly released figures are stunning-soaring energy costs pushed inflation up in May at the fastest pace in six months, according to data released Friday by the U.S. Labor Department. Food prices had the biggest one-month leap in 18 years in April. That's something.
Higher energy and commodity prices also fuel inflation pressures in other parts of the world. They are being acutely felt in Asia in particular, as the region continues to function as a commodity importer/manufactured goods exporter. One way countries can offset such inflationary pressures is to allow their currencies to appreciate more rapidly. All of a sudden, within a couple of weeks, the once neglected subject of inflation has catapulted itself onto front pages.
As of this writing in mid June, finance ministers of the of the Group of Eight industrialized countries (G-8) are holding a meeting in Osaka, Japan. Main subject have been inflation causing soaring oil and food prices, which are emerging as serious threats to global economic growth. The ministers are vowing to work together to address the problem. They urged oil-producing nations to increase production to help stabilize the spike in oil prices, and called for aid to address a looming food crisis in developing nations.
In response, Saudi Arabia pledged to increase its daily output by additional 500,000 barrels a day. This is surely to stretch their capacity to an absolute maximum, but in opinions of many this decision should calm energy markets, which, by the way, do not have a shortage of supplies. The recent run up of crude oil price to new high of about $140, is likely to be the extent of the rally for some time.
Where does it leave the dollar? There is no one certain answer, but her is one very possible scenario. Inflationary pressures are likely to cause FED to halt its rate cutting policy, maybe even to start gradual rate increases. That is always appealing to Forex traders. Falling oil prices should also benefit the dollar, as record energy costs have been vilified as the single biggest force behind USD weakness (rightly or not). And one more thing, Treasury Secretary Paulson warned earlier this week that he isn't ruling out intervening in currency markets to stabilize the currency.
So, what is the relationship between US Dollar and inflation? Under current market conditions and in light of most recent fundamental and technical development USD might just get a much needed bust from the much dreaded inflation. This relationship is, however, fluid and unstable. Unchecked, inflationary forces can do just the opposite some time down the road- start another Dollar slide.
by Mike P. Kulej
For a number of years US economy has enjoyed a relatively low inflation rate. According to official statements, annualized inflation over last decade or so has been in very low single digits. Depending on the source and method of calculation, the rate has been about 2. That is despite massive infusion of funds into the economy in the form of very low interest rates.
That course of action has been long supported by US financial authorities, the FED. For years the central bank has been concerned with growth, doing everything it could to fight economic slow down and stagnation. It was done in the form of cutting interest rates and seemingly endless liquidity increase. Let's not forget about lending hand in order to bail out large financial institutions from the masses their questionable practises created. In fact, month after month we have been treated to speeches that inflation is under control and not a threat. Until now.
Published inflation figures pertain to the so called "core inflation", compilation of prices on consumer goods, which excludes food and energy. Runaway cost increases in oil/gas and main food commodities are finally being reflected in the number, as their effects trickle down to other areas of consumer goods. Some of the newly released figures are stunning-soaring energy costs pushed inflation up in May at the fastest pace in six months, according to data released Friday by the U.S. Labor Department. Food prices had the biggest one-month leap in 18 years in April. That's something.
Higher energy and commodity prices also fuel inflation pressures in other parts of the world. They are being acutely felt in Asia in particular, as the region continues to function as a commodity importer/manufactured goods exporter. One way countries can offset such inflationary pressures is to allow their currencies to appreciate more rapidly. All of a sudden, within a couple of weeks, the once neglected subject of inflation has catapulted itself onto front pages.
As of this writing in mid June, finance ministers of the of the Group of Eight industrialized countries (G-8) are holding a meeting in Osaka, Japan. Main subject have been inflation causing soaring oil and food prices, which are emerging as serious threats to global economic growth. The ministers are vowing to work together to address the problem. They urged oil-producing nations to increase production to help stabilize the spike in oil prices, and called for aid to address a looming food crisis in developing nations.
In response, Saudi Arabia pledged to increase its daily output by additional 500,000 barrels a day. This is surely to stretch their capacity to an absolute maximum, but in opinions of many this decision should calm energy markets, which, by the way, do not have a shortage of supplies. The recent run up of crude oil price to new high of about $140, is likely to be the extent of the rally for some time.
Where does it leave the dollar? There is no one certain answer, but her is one very possible scenario. Inflationary pressures are likely to cause FED to halt its rate cutting policy, maybe even to start gradual rate increases. That is always appealing to Forex traders. Falling oil prices should also benefit the dollar, as record energy costs have been vilified as the single biggest force behind USD weakness (rightly or not). And one more thing, Treasury Secretary Paulson warned earlier this week that he isn't ruling out intervening in currency markets to stabilize the currency.
So, what is the relationship between US Dollar and inflation? Under current market conditions and in light of most recent fundamental and technical development USD might just get a much needed bust from the much dreaded inflation. This relationship is, however, fluid and unstable. Unchecked, inflationary forces can do just the opposite some time down the road- start another Dollar slide.
Why Don't Banks Sack Their Fund Managers As There Track Records Are So Good?
I see forex robots that if they worked, would be producing more than the top fund managers but as yet, haven't heard of banks using them and the reason is obvious they don't work - here's why...
Ever seen that track record that looks to good to be true? Well you will see this as well in the small print -read it:
"CFTC RULE 4.41 - 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 shown".
So there you have it - the forex robot you see hasn't even got a real track record - just paper money, made in hindsight, well that's not real dollars and that's how I judge a trading system.
Anyone can make money knowing all the data and make a track up but of course that's not real life.
I trade and I know a lot of bank dealers and as yet have not seen any of them sacked in favor of any of the forex trading systems I have seen advertised and the reason is simple, paper profits, do not get translated into real time profits.
Today, everyone is looking for easy money from forex trading - but trading is not easy and you wouldn't expect it to be, with the rewards on offer.
Like in any venture, where there are big gains to be made, you need to pay your dues and get the right education.
If of course you do and you get the right forex education, then you can make big long term profits. So my advise is - leave the forex robots with paper track records to the naïve and lazy traders and get yourself a proper forex education, which can set you on the road to long term currency trading success.
If there is big money to be made then its never easy and this doesnt just apply in forex trading, it applies in all money making ventures. Accept this fact, bnow get the right tools and forex education for success.
Ever seen that track record that looks to good to be true? Well you will see this as well in the small print -read it:
"CFTC RULE 4.41 - 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 shown".
So there you have it - the forex robot you see hasn't even got a real track record - just paper money, made in hindsight, well that's not real dollars and that's how I judge a trading system.
Anyone can make money knowing all the data and make a track up but of course that's not real life.
I trade and I know a lot of bank dealers and as yet have not seen any of them sacked in favor of any of the forex trading systems I have seen advertised and the reason is simple, paper profits, do not get translated into real time profits.
Today, everyone is looking for easy money from forex trading - but trading is not easy and you wouldn't expect it to be, with the rewards on offer.
Like in any venture, where there are big gains to be made, you need to pay your dues and get the right education.
If of course you do and you get the right forex education, then you can make big long term profits. So my advise is - leave the forex robots with paper track records to the naïve and lazy traders and get yourself a proper forex education, which can set you on the road to long term currency trading success.
If there is big money to be made then its never easy and this doesnt just apply in forex trading, it applies in all money making ventures. Accept this fact, bnow get the right tools and forex education for success.
Forex Trading Education - If You Want to Win Understand This Equation For Success
Forex Trading Education - If You Want to Win Understand This Equation For Success
by Kelly Price
Most forex traders lose and the reason they do, is they don't understand the simple equation for forex trading success enclosed in this article. So learn it as part of your forex trading education and get on the road to currency trading success.
Here is the equation and we will discuss its significance in a moment.
Robust Logical System + Confidence in = Discipline to Apply = Forex Trading Success
Now that's nice and simple - but most traders fail to understand it's significance.
Of course, some traders simply get the wrong forex education, try and apply it and lose - here are some common beliefs of losing traders:
- Believing forex day trading or scalping works
- Believing prices move to a scientific formula
- Trying to predict forex prices in advance
- Trusting their money to a forex robot with a simulated, paper track record
Believe any of the above and you will lose at forex trading.
To win you must understand that having a logical robust forex trading system is not enough, you have to apply it with discipline.
This means you must have confidence in the logic, because you are going to have to apply it with discipline and remember - if you can't apply your forex trading system with discipline, you don't have a system!
Most traders hear about the word discipline but have no idea what it means and how important it is and it's a hard trait to acquire.
You need to hold your discipline when your trading system is taking loss and after loss (this happens to even the best traders) and keep executing you're trading system with discipline.
In a famous experiment, Richard Dennis taught a group of traders who had never traded before to trade and he did it in 14 days.
The trading system taught was basically simple (a long term breakout system) but Dennis didn't just tell them to follow it blindly - he taught them to have confidence in the logic, so they would have the discipline to apply it.
The result was stunning - these traders made over $100 million dollars in just 4 years and went down as trading legends.
When Dennis taught the group, he knew the importance of mindset and sticking with a plan through short term losing periods, to make long term profits and you must to.
Discipline is not easy, but if you get the right forex trading education and have the right mindset, you can enjoy forex trading success and you will be doing what over 90% of traders fail to do.
The rewards in forex trading are huge and you can generate a great second or life changing income, you must however be prepared to take your losses to get your profits. All successful traders know this and you must to.
by Kelly Price
Most forex traders lose and the reason they do, is they don't understand the simple equation for forex trading success enclosed in this article. So learn it as part of your forex trading education and get on the road to currency trading success.
Here is the equation and we will discuss its significance in a moment.
Robust Logical System + Confidence in = Discipline to Apply = Forex Trading Success
Now that's nice and simple - but most traders fail to understand it's significance.
Of course, some traders simply get the wrong forex education, try and apply it and lose - here are some common beliefs of losing traders:
- Believing forex day trading or scalping works
- Believing prices move to a scientific formula
- Trying to predict forex prices in advance
- Trusting their money to a forex robot with a simulated, paper track record
Believe any of the above and you will lose at forex trading.
To win you must understand that having a logical robust forex trading system is not enough, you have to apply it with discipline.
This means you must have confidence in the logic, because you are going to have to apply it with discipline and remember - if you can't apply your forex trading system with discipline, you don't have a system!
Most traders hear about the word discipline but have no idea what it means and how important it is and it's a hard trait to acquire.
You need to hold your discipline when your trading system is taking loss and after loss (this happens to even the best traders) and keep executing you're trading system with discipline.
In a famous experiment, Richard Dennis taught a group of traders who had never traded before to trade and he did it in 14 days.
The trading system taught was basically simple (a long term breakout system) but Dennis didn't just tell them to follow it blindly - he taught them to have confidence in the logic, so they would have the discipline to apply it.
The result was stunning - these traders made over $100 million dollars in just 4 years and went down as trading legends.
When Dennis taught the group, he knew the importance of mindset and sticking with a plan through short term losing periods, to make long term profits and you must to.
Discipline is not easy, but if you get the right forex trading education and have the right mindset, you can enjoy forex trading success and you will be doing what over 90% of traders fail to do.
The rewards in forex trading are huge and you can generate a great second or life changing income, you must however be prepared to take your losses to get your profits. All successful traders know this and you must to.
Forex Trading Systems
Forex Trading Systems
by Julianna Jones
People are making $100,000's every year with Forex trading, why aren't you?
Forex trading systems. You've seen them advertised but where do you start? The logical place to begin is with you. More than likely you want to make as much money as possible, as quickly as possible and with very little work. Most people are like this, and you and I are no different. This is why Forex trading has become so popular. Forex trading is a somewhat complicated process to understand and master, but new Forex trading systemss have made it easy for everyone to master and profit from Forex Trading.A Forex trading system tells you how to trade Forex step by step. These systems are available in many mediums. Be aware that some are far superior than others. You will find that there are seminars, books, e-books as well as autopilot applications available to you. Many inexperienced people prefer an autopilot system which we will look into.
Seminars can be a good source of information but quality can vary. A decent seminar will usually be very expensive. You may or may not be allowed to record the session or take notes. Be sure to research before Paying to attend a seminar.
Books or online e-books can be good for learning about trading and for reference. The downside is that you may or may not lose large sums of money you've invested as you are learning the ropes. This can be very discouraging and many of those who are just starting out give up in the middle of the learning process due to loss of funds.
Finally you may want to consider an autopilot application. Autopilot Forex trading system are extremely popular right now. The best selling ones such as Forex Tracer are designed by expert advisers and elite traders. You can be assured that you are getting a quality program when you purchase one that was designed by the traders themselves. Many elite traders are actually against these types of programs being released to the public.
Forex autopilot applications are proven to be highly effective. They have developed complicated algorithms as well as putting them through rigorous testing before releasing them to the public. Amazingly they require no previous experience and they're extremely easy to use. Programs such as Forex Tracer comes with a function which allows you to use "simulated money". Essentially you are allowed to trade using simulated money to see the potential profit before investing your own money. I'm sure that you can see how powerful this can be.
So, If you are interested in listening to an elite trader, a seminar may be the right choice for you. If you'd like a reference of Forex trading a book or e-book may be your chosen tool. But, if you want to start making money quickly, as most of us do, I suggest purchasing a reputable and proven autopilot application.
by Julianna Jones
People are making $100,000's every year with Forex trading, why aren't you?
Forex trading systems. You've seen them advertised but where do you start? The logical place to begin is with you. More than likely you want to make as much money as possible, as quickly as possible and with very little work. Most people are like this, and you and I are no different. This is why Forex trading has become so popular. Forex trading is a somewhat complicated process to understand and master, but new Forex trading systemss have made it easy for everyone to master and profit from Forex Trading.A Forex trading system tells you how to trade Forex step by step. These systems are available in many mediums. Be aware that some are far superior than others. You will find that there are seminars, books, e-books as well as autopilot applications available to you. Many inexperienced people prefer an autopilot system which we will look into.
Seminars can be a good source of information but quality can vary. A decent seminar will usually be very expensive. You may or may not be allowed to record the session or take notes. Be sure to research before Paying to attend a seminar.
Books or online e-books can be good for learning about trading and for reference. The downside is that you may or may not lose large sums of money you've invested as you are learning the ropes. This can be very discouraging and many of those who are just starting out give up in the middle of the learning process due to loss of funds.
Finally you may want to consider an autopilot application. Autopilot Forex trading system are extremely popular right now. The best selling ones such as Forex Tracer are designed by expert advisers and elite traders. You can be assured that you are getting a quality program when you purchase one that was designed by the traders themselves. Many elite traders are actually against these types of programs being released to the public.
Forex autopilot applications are proven to be highly effective. They have developed complicated algorithms as well as putting them through rigorous testing before releasing them to the public. Amazingly they require no previous experience and they're extremely easy to use. Programs such as Forex Tracer comes with a function which allows you to use "simulated money". Essentially you are allowed to trade using simulated money to see the potential profit before investing your own money. I'm sure that you can see how powerful this can be.
So, If you are interested in listening to an elite trader, a seminar may be the right choice for you. If you'd like a reference of Forex trading a book or e-book may be your chosen tool. But, if you want to start making money quickly, as most of us do, I suggest purchasing a reputable and proven autopilot application.
วันเสาร์ที่ 14 มิถุนายน พ.ศ. 2551
FOREX Trading - The Scam That Will Steal Your Forex Trading Funds
FOREX Trading - The Scam That Will Steal Your Forex Trading Funds
by Nigel Banks
The Forex is the worldwide market that is used to exchange currencies of different companies. It is called by many names including the FX and Foreign Exchange. This is a market on the move with business and governments constantly looking to secure a known exchange rate for whatever currency they are going to exchange to.
This means that there are always parties looking to buy or sell a particular currency, which makes these markets very liquid, and a great opportunity for private investors. Because of the profound investment opportunities inside the Forex private investing has sky rocketed. And with this growth have come a number of scams to take advantage of un-experienced traders.
Small business and individuals who are looking to make quick profits from the FX are the ones falling prey to these con artists. The scams promise the allure of a quick buck without any track record of success in actually trading the markets. And because of the extreme volatility of these markets you could easily end up losing everything that you have invested in one single transaction.
The Broker Scam
The storefront broker scam is the first that you may encounter. This is where someone will set up a sophisticated looking website with a false Chicago address and claim to be a genuine broker. If you place your money with a shop like this you will have very little chance of getting your money back. It is wise to read all the material they provide closely to make sure they are even authorized to trade in the Forex markets, most are in countries that are not permitted to do so, they are just collecting as much cash as possible before they close down.
It is wise to do your investigating and talk to other traders to see whom they use for trading. And also get under the wing of a veteran trader who can show you the ropes. Or even check out some of the automated trading systems that are on the markets today. They are chock-full of proven trading strategies that you can use to profit with until you understand the markets further.
by Nigel Banks
The Forex is the worldwide market that is used to exchange currencies of different companies. It is called by many names including the FX and Foreign Exchange. This is a market on the move with business and governments constantly looking to secure a known exchange rate for whatever currency they are going to exchange to.
This means that there are always parties looking to buy or sell a particular currency, which makes these markets very liquid, and a great opportunity for private investors. Because of the profound investment opportunities inside the Forex private investing has sky rocketed. And with this growth have come a number of scams to take advantage of un-experienced traders.
Small business and individuals who are looking to make quick profits from the FX are the ones falling prey to these con artists. The scams promise the allure of a quick buck without any track record of success in actually trading the markets. And because of the extreme volatility of these markets you could easily end up losing everything that you have invested in one single transaction.
The Broker Scam
The storefront broker scam is the first that you may encounter. This is where someone will set up a sophisticated looking website with a false Chicago address and claim to be a genuine broker. If you place your money with a shop like this you will have very little chance of getting your money back. It is wise to read all the material they provide closely to make sure they are even authorized to trade in the Forex markets, most are in countries that are not permitted to do so, they are just collecting as much cash as possible before they close down.
It is wise to do your investigating and talk to other traders to see whom they use for trading. And also get under the wing of a veteran trader who can show you the ropes. Or even check out some of the automated trading systems that are on the markets today. They are chock-full of proven trading strategies that you can use to profit with until you understand the markets further.
Forex Trading - Double Your Profit Potential With This Simple Rule!
Forex Trading - Double Your Profit Potential With This Simple Rule!
by Monica Hendrix
If you are not making as much money as you would like from your forex trading or want to get a great tip before you start, learn this simple rule and make it part of your forex trading strategy for bigger profits...
The rule is the 80 / 20 rule and it applies in many areas of life and that includes forex trading. This simple rule states that 80% of your income comes from 20% of your efforts.
Its used in business for example, where 20 % of clients very often give 80% of the income - so how does it apply to forex trading?
Simple - cut your trading frequency to high odds trades only!
Many traders take to many trading signals - but there is no correlation between how much you trade and your profits. Your judged on the accuracy of your trading signal and that's it.
The fact is the big forex trends and high odds trades don't come around that often.
For example, I know traders who trade less than 12 times a year yet make over 100% annualized gains.
These guys are not looking for 20 0r 30 pips there after 1,000s.
FACT
The big profits come from the big trends, that last weeks, months or years and if you want to make money, focus on these not the low odds trades.
If you consider how many people day trade and try forex scalping you will understand what I mean.
These are lots of low odds trades and day traders and scalpers lose. They try hard and lose, sad but true. On the other hand the patient trader who hits high odds trades spends less time on his or her trading - but makes a lot of money.
Never confuse how frequently you trade with how much profit you will make.
Take high odds trades only, show patient and you will have higher profits, with less stress and spend less time on your trading.
Long term trend following is the way to make money don't trade often but aim to make a lot when you do, understand this and you can enjoy currency trading success.
by Monica Hendrix
If you are not making as much money as you would like from your forex trading or want to get a great tip before you start, learn this simple rule and make it part of your forex trading strategy for bigger profits...
The rule is the 80 / 20 rule and it applies in many areas of life and that includes forex trading. This simple rule states that 80% of your income comes from 20% of your efforts.
Its used in business for example, where 20 % of clients very often give 80% of the income - so how does it apply to forex trading?
Simple - cut your trading frequency to high odds trades only!
Many traders take to many trading signals - but there is no correlation between how much you trade and your profits. Your judged on the accuracy of your trading signal and that's it.
The fact is the big forex trends and high odds trades don't come around that often.
For example, I know traders who trade less than 12 times a year yet make over 100% annualized gains.
These guys are not looking for 20 0r 30 pips there after 1,000s.
FACT
The big profits come from the big trends, that last weeks, months or years and if you want to make money, focus on these not the low odds trades.
If you consider how many people day trade and try forex scalping you will understand what I mean.
These are lots of low odds trades and day traders and scalpers lose. They try hard and lose, sad but true. On the other hand the patient trader who hits high odds trades spends less time on his or her trading - but makes a lot of money.
Never confuse how frequently you trade with how much profit you will make.
Take high odds trades only, show patient and you will have higher profits, with less stress and spend less time on your trading.
Long term trend following is the way to make money don't trade often but aim to make a lot when you do, understand this and you can enjoy currency trading success.
Forex Trading Tutorial - Tutorial For Trading The Forex With Financial Leverage & Power
by Nigel Banks
Did you know it is not the markets movements that make the Forex such a powerful tool for financial gain? The fact is when it comes to wild market swings, the stock market is probably the hands down winner with point moves in the hundreds. So why then is Forex so much more powerful than NYSE? The answer is in leverage.
Normal markets like stocks require that you have the exact money for the position you are trading. In other words they are a cash and carry type of market. The Forex is completely different in that you are only required to make a deposit on the trade, your broker will cover the rest of the money. This means that you are controlling a much larger position that you have to put up cash for. It is a bit like buying a $400,000 house with only 10% down. You only put down $40,000 dollars but you now control an asset worth ten times as much.
Here's where Forex Trading really begins to shine. Unlike the real estate market the Currencies move up and down a significant amount in minutes and hours instead of months and years. And unlike real estate the leverage is many times greater, to the order of 200:1 or even 400:1. This means that to control a $100,000 in currencies at a 400:1 leverage you would only need to have a .25% deposit on hand, which equals $250. Thus the power of leverage - if that market rises only 1% in a day the total gain would be $1000 for a risk of $250. This would yield a 400% return on investment with only a 1% market move.
Do you see the power of leverage now?
The Dreaded Margin Call
Of course, if a market can go up and make tremendous gains on leverage, it can also go down and have you losing money by the same amount of lever. So a 1% down turn in the market scenario mentioned above would have you losing $1,000 instead of gaining.
The brokers know this risk and have gone to great lengths to cover themselves by requiring what is called a maintenance margin. This maintenance margin is usually equal to the amount of leverage used in trading. So if you were trading at 200:1 leverage a 2% maintenance margin would be mandated.
When your losses have taken your account below the funds that are required to be above that maintenance margin, your broker will have the unpleasant duty of calling you on the phone and telling you to deposit more money or exit your trade position. You will then need to scramble an electronic transfer of cash in order to keep the privilege of trading your account. The Maintenance margin and the margin call are means for the brokers to protect themselves from losing money by having to cover traders losses at the end of each day.
As scary as these calls may be they are usually only received by people who do not know how to properly manage their trading account.
by Nigel Banks
Did you know it is not the markets movements that make the Forex such a powerful tool for financial gain? The fact is when it comes to wild market swings, the stock market is probably the hands down winner with point moves in the hundreds. So why then is Forex so much more powerful than NYSE? The answer is in leverage.
Normal markets like stocks require that you have the exact money for the position you are trading. In other words they are a cash and carry type of market. The Forex is completely different in that you are only required to make a deposit on the trade, your broker will cover the rest of the money. This means that you are controlling a much larger position that you have to put up cash for. It is a bit like buying a $400,000 house with only 10% down. You only put down $40,000 dollars but you now control an asset worth ten times as much.
Here's where Forex Trading really begins to shine. Unlike the real estate market the Currencies move up and down a significant amount in minutes and hours instead of months and years. And unlike real estate the leverage is many times greater, to the order of 200:1 or even 400:1. This means that to control a $100,000 in currencies at a 400:1 leverage you would only need to have a .25% deposit on hand, which equals $250. Thus the power of leverage - if that market rises only 1% in a day the total gain would be $1000 for a risk of $250. This would yield a 400% return on investment with only a 1% market move.
Do you see the power of leverage now?
The Dreaded Margin Call
Of course, if a market can go up and make tremendous gains on leverage, it can also go down and have you losing money by the same amount of lever. So a 1% down turn in the market scenario mentioned above would have you losing $1,000 instead of gaining.
The brokers know this risk and have gone to great lengths to cover themselves by requiring what is called a maintenance margin. This maintenance margin is usually equal to the amount of leverage used in trading. So if you were trading at 200:1 leverage a 2% maintenance margin would be mandated.
When your losses have taken your account below the funds that are required to be above that maintenance margin, your broker will have the unpleasant duty of calling you on the phone and telling you to deposit more money or exit your trade position. You will then need to scramble an electronic transfer of cash in order to keep the privilege of trading your account. The Maintenance margin and the margin call are means for the brokers to protect themselves from losing money by having to cover traders losses at the end of each day.
As scary as these calls may be they are usually only received by people who do not know how to properly manage their trading account.
Forex Robots - This One is Free Proven and Makes Huge Long Term Profits
Forex Robots - This One is Free Proven and Makes Huge Long Term Profits
by kelly Price
Of course you can buy one but why not get one that doesn't cost a cent, is simple to understand has worked and will continue to work? This forex robot beats almost any you see for sale online so why waste your money?
This system beats all the ones you see for sale because - its got a track record in real time and is NOT curve fitted.
Most systems you see for sale, have never been traded and have there track records bent to fit the data, in meaningless paper simulations.
Seen a forex robot for sale? Then look for the warning below - your bound to see it:
"CFTC RULE 4.41 - 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 shown".
The vendor simply bends the track record in hindsight, until it works on the data.
As no two pieces of data ever replicate themselves exactly it loses. Would you trust a system with the above disclaimer written on it I wouldn't consider a system which has made paper money, if I want paper profits I can play Monopoly!
The one we are going to look at is different.
Many top traders have used and even the legendary Richard Dennis was a fan of this forex trading system.
Here it is and it is based on just one rule:
In a calendar month buy a new 4 week high or sell a new 4 week calendar low. The system is a stop and reverse so will always be in the market - that's it.
Simple?
Sure it is - but it makes money and that's what any forex trader wants.
It will get you on the right side of every major trend and works in any trading market not just currencies. It was devised back in the seventies by legendary trader Richard Donchian, who is considered the grandfather of modern trend following. Originally, it was devised to trade commodities but works on currencies, as they are great trending market.
No system is perfect and this system will get chopped when markets don't trend, so you may wish to re consider the exit rule and exit on a 1 or 2 week high or low and go flat, then enter on the next 4 week signal.
Will most traders use the above?
No they wont, they will say its to simple and can't work- but test the rule and it does and always will, because its based on trending markets and breakouts.
In fact, simple systems work best, because they are more robust in the brutal world of real trading, with fewer elements to break.
It may not have the image of a neural network, system based on chaos or Fibonacci but in the cold hard world of trading where fancy names don't matter, it will probably beat 90% of them hands down.
So if you want a robust forex robot, which is simple to understand, takes only a few minutes to apply and makes big long term gains check it out and remember it will cost you nothing - just some time and trust me, that will be time well spent.
by kelly Price
Of course you can buy one but why not get one that doesn't cost a cent, is simple to understand has worked and will continue to work? This forex robot beats almost any you see for sale online so why waste your money?
This system beats all the ones you see for sale because - its got a track record in real time and is NOT curve fitted.
Most systems you see for sale, have never been traded and have there track records bent to fit the data, in meaningless paper simulations.
Seen a forex robot for sale? Then look for the warning below - your bound to see it:
"CFTC RULE 4.41 - 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 shown".
The vendor simply bends the track record in hindsight, until it works on the data.
As no two pieces of data ever replicate themselves exactly it loses. Would you trust a system with the above disclaimer written on it I wouldn't consider a system which has made paper money, if I want paper profits I can play Monopoly!
The one we are going to look at is different.
Many top traders have used and even the legendary Richard Dennis was a fan of this forex trading system.
Here it is and it is based on just one rule:
In a calendar month buy a new 4 week high or sell a new 4 week calendar low. The system is a stop and reverse so will always be in the market - that's it.
Simple?
Sure it is - but it makes money and that's what any forex trader wants.
It will get you on the right side of every major trend and works in any trading market not just currencies. It was devised back in the seventies by legendary trader Richard Donchian, who is considered the grandfather of modern trend following. Originally, it was devised to trade commodities but works on currencies, as they are great trending market.
No system is perfect and this system will get chopped when markets don't trend, so you may wish to re consider the exit rule and exit on a 1 or 2 week high or low and go flat, then enter on the next 4 week signal.
Will most traders use the above?
No they wont, they will say its to simple and can't work- but test the rule and it does and always will, because its based on trending markets and breakouts.
In fact, simple systems work best, because they are more robust in the brutal world of real trading, with fewer elements to break.
It may not have the image of a neural network, system based on chaos or Fibonacci but in the cold hard world of trading where fancy names don't matter, it will probably beat 90% of them hands down.
So if you want a robust forex robot, which is simple to understand, takes only a few minutes to apply and makes big long term gains check it out and remember it will cost you nothing - just some time and trust me, that will be time well spent.
Forex Money Management - Simple Tips to Double Or Triple Your Profits
Forex Money Management - Simple Tips to Double Or Triple Your Profits!
by kelly Price
Forex money management is simply seen as a way of restricting loses but its lot more than placing a stop, if you follow the tips in this article, you could increase your gains dramatically...
The aim of forex traders is to take risks at the right time and get the odds on their side and then get as much as the trend as they can - sure you knew that already!
However most traders think high odds trades come around all the time - they don't.
The really great trends maybe come around a few times a month no more but how many traders try forex scalping and day trading? Lots. How many lose? All of them.
The first real rule is to get the odds on your side as much as possible and that means
Cutting your trading down - most traders simply trade too much. Keep in mind though you don't get paid for how often you trade you only get paid for being right with your trading signal and that's it.
Once you cut you're trading down, you can concentrate on hitting the opportunities you are going to trade harder.
A huge mistake is to diversify why? It simply dilutes gains. Most traders, also have small accounts and if they take the common wisdom of risking 2%, they have to have their stop so close, their guaranteed to get stopped out.
They have a small loss - but on the other hand, they have no chance of winning.
Sure it's the majority view to risk 2% - but the majority doesn't win!
Risk 10 - 20% and you will stay in the trade and get some meaningful profits.
Next the most common error of all of novice forex traders is to trail their stop to close and get bumped out the trade, by normal market volatility.
If you don't know what standard deviation of price is, make it part of your essential forex education! Knowing how to trail a stop, outside of normal volatility is the key to huge gains.
If you trade don't trail too quickly and if your long term forex trend following, keep your stop well back. A good way to do this is to use key trend line support, around the 40 day Moving Average.
Sure you give a bit back at the end of the trend but you don't know when the trend was going to end anyway so don't try and predict - you can't
If you look at a forex chart, the big trends last for weeks, months or years and there worth a lot of dollars in the pocket.
If you trade forex you need to take risk pure and simple. You are not trading in a manner but take calculated risks when the odds are on your side.
If you want to make 10 - 20% you can do it with less risk elsewhere.
If you want 50 - 100% you need to take risks, it's as simple as that.
Most traders try to restrict risk so much they create it. Sure they keep their losses small but they have a lot of them and never make any decent gains.
So in forex money management terms, you need to take risks at the right time hit the high odds trades with your forex trading strategy and milk them for all there worth.
by kelly Price
Forex money management is simply seen as a way of restricting loses but its lot more than placing a stop, if you follow the tips in this article, you could increase your gains dramatically...
The aim of forex traders is to take risks at the right time and get the odds on their side and then get as much as the trend as they can - sure you knew that already!
However most traders think high odds trades come around all the time - they don't.
The really great trends maybe come around a few times a month no more but how many traders try forex scalping and day trading? Lots. How many lose? All of them.
The first real rule is to get the odds on your side as much as possible and that means
Cutting your trading down - most traders simply trade too much. Keep in mind though you don't get paid for how often you trade you only get paid for being right with your trading signal and that's it.
Once you cut you're trading down, you can concentrate on hitting the opportunities you are going to trade harder.
A huge mistake is to diversify why? It simply dilutes gains. Most traders, also have small accounts and if they take the common wisdom of risking 2%, they have to have their stop so close, their guaranteed to get stopped out.
They have a small loss - but on the other hand, they have no chance of winning.
Sure it's the majority view to risk 2% - but the majority doesn't win!
Risk 10 - 20% and you will stay in the trade and get some meaningful profits.
Next the most common error of all of novice forex traders is to trail their stop to close and get bumped out the trade, by normal market volatility.
If you don't know what standard deviation of price is, make it part of your essential forex education! Knowing how to trail a stop, outside of normal volatility is the key to huge gains.
If you trade don't trail too quickly and if your long term forex trend following, keep your stop well back. A good way to do this is to use key trend line support, around the 40 day Moving Average.
Sure you give a bit back at the end of the trend but you don't know when the trend was going to end anyway so don't try and predict - you can't
If you look at a forex chart, the big trends last for weeks, months or years and there worth a lot of dollars in the pocket.
If you trade forex you need to take risk pure and simple. You are not trading in a manner but take calculated risks when the odds are on your side.
If you want to make 10 - 20% you can do it with less risk elsewhere.
If you want 50 - 100% you need to take risks, it's as simple as that.
Most traders try to restrict risk so much they create it. Sure they keep their losses small but they have a lot of them and never make any decent gains.
So in forex money management terms, you need to take risks at the right time hit the high odds trades with your forex trading strategy and milk them for all there worth.
วันอังคารที่ 10 มิถุนายน พ.ศ. 2551
Forex Trading Systems - How to Make Big Gains With a Forex Robot 3 Tips
Forex Trading Systems - How to Make Big Gains With a Forex Robot 3 Tips
There are lots of forex trading systems online to choose from and here we are going to give you 3 tips on finding the minority that can and do make big forex gains and avoid the losing majority...
Here are 3 tips for getting the right forex trading system for you.
1. Has It performed in Real Time?
Track records are not all they seem on first glance. Most are simulations, done in hindsight, knowing the closing prices this means they have never performed in rea time.
Check most of the forex trading systems online and you will see this somewhere hidden in the offer:
"CFTC RULE 4.41 - 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 shown".
The above doesn't exactly build confidence in the system when you read it in fact it means the track record is totally irrelevant in terms of deciding whether the system has the potential to make money in real time.
Pass any system by that has the above printed on it and get one with a real time track record.
Ok, a real time track record doesn't guarantee profits - but at least it gives you some idea the system is soundly based and that the developer has traded it and risked his own money.
Why should you trust a system when the vendor doesn't trust his own? Exactly
2. Worst Peak to Valley Losses
You will find trading systems with good track records but keep in mind a track record over 2 or 3 years maybe great - but in between you have periods of losses and these can last for weeks or months depending on the type of system.
Sure they emerge from these losing periods and pile up big gains but you have to mentally handle the drawdown when its occurring without quitting.
The best way to do this is to pick the worst day to join the system, measure the size of the fall and how long it takes to get back into positive territory.
In conclusion, your worst always assume the worst drawdown is coming and be prepared mentally, to accept it.
3. Confidence
Many traders have sound systems but don't follow them because they don't know the logic and therefore lack discipline.
It is hard to keep executing a trading system when its losing and you don't know why! And just as important that the drawdown period will pass.
Take time to checkout the rules and parameters of the system and see if you agree with the way it trades and understand how and why it will make money
If you don't do this then you wont be able to follow your trading system and will quit it in a drawdown period, even though the chances are it will recover and make long term gains
Being a Winner with Your System
You can make money with forex trading systems that are automatic and there a great time efficient tool but there not all created equally.
Shop around for an automated forex trading system, ignore the claims and the hype, check for a real track record check the drawdown and learn the logic.
If you follow the steps in this article, you will find a system which can put you on the road to forex trading success.
There are lots of forex trading systems online to choose from and here we are going to give you 3 tips on finding the minority that can and do make big forex gains and avoid the losing majority...
Here are 3 tips for getting the right forex trading system for you.
1. Has It performed in Real Time?
Track records are not all they seem on first glance. Most are simulations, done in hindsight, knowing the closing prices this means they have never performed in rea time.
Check most of the forex trading systems online and you will see this somewhere hidden in the offer:
"CFTC RULE 4.41 - 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 shown".
The above doesn't exactly build confidence in the system when you read it in fact it means the track record is totally irrelevant in terms of deciding whether the system has the potential to make money in real time.
Pass any system by that has the above printed on it and get one with a real time track record.
Ok, a real time track record doesn't guarantee profits - but at least it gives you some idea the system is soundly based and that the developer has traded it and risked his own money.
Why should you trust a system when the vendor doesn't trust his own? Exactly
2. Worst Peak to Valley Losses
You will find trading systems with good track records but keep in mind a track record over 2 or 3 years maybe great - but in between you have periods of losses and these can last for weeks or months depending on the type of system.
Sure they emerge from these losing periods and pile up big gains but you have to mentally handle the drawdown when its occurring without quitting.
The best way to do this is to pick the worst day to join the system, measure the size of the fall and how long it takes to get back into positive territory.
In conclusion, your worst always assume the worst drawdown is coming and be prepared mentally, to accept it.
3. Confidence
Many traders have sound systems but don't follow them because they don't know the logic and therefore lack discipline.
It is hard to keep executing a trading system when its losing and you don't know why! And just as important that the drawdown period will pass.
Take time to checkout the rules and parameters of the system and see if you agree with the way it trades and understand how and why it will make money
If you don't do this then you wont be able to follow your trading system and will quit it in a drawdown period, even though the chances are it will recover and make long term gains
Being a Winner with Your System
You can make money with forex trading systems that are automatic and there a great time efficient tool but there not all created equally.
Shop around for an automated forex trading system, ignore the claims and the hype, check for a real track record check the drawdown and learn the logic.
If you follow the steps in this article, you will find a system which can put you on the road to forex trading success.
Day Trading For Beginners - Discover the Crucial Fact You Need Know!
Day Trading For Beginners - Discover the Crucial Fact You Need Know!
by Monica Hendrix
This article is all about forex day trading for beginners and what you need to know, to preserve your equity and win at forex trading.
The most important fact you need to know is that the odds are stacked against you and longer term, it's impossible to win. Have you seen a tempting day trading system with a track record of gains?
Then you will also find the warning below in the small print which is a sobering thought, showing you how the track record has been manufactured:
"CFTC RULE 4.41 - 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 shown".
All day trading forex courses and systems sold that I have seen have it.
You see some lovely track records, then in the small print, you get the above which simply means the system has never been traded and the track record made up using past data. That's made up KNOWING the closing prices!
Well that's not hard, a child could do it and so could you.
So why doesn't day trading work?
All you need to do is think about the dumb logic it's based on.
We have numerous millions of people all around the world, all with different skill levels, motivations, aims and forex trading strategies and you are going to have to decide, what this vast mass of people are going to do, in just a few hours.
Is it possible?
Of course not.
It's a fact, that all daily volatility is of a random nature and prices can go outside of daily support, resistance, pivot points or any other technical analysis tool you apply.
Look at any forex chart and this is obvious.
Because you can't get the odds on your side, your destined to lose - PERIOD.
The other point you need to keep in mind (if the above is not enough to convince you) is that day trading breaks a fundamental rule of investment:
Run your profits, to cover your losses.
So in day trading, you do keep losses small (and your going to get lots of them) but on the other hand, what does a day trader do if he is lucky enough to have a profit?
Run it? Not a chance - he cuts it!
So you have lots of small losses and marginal wins (now and again when your lucky) and this equates to an equity wipe out long term.
Don't be fooled by all the vendors telling you that you will win, you won't.
You could always ask the obvious question:
If the system is so good, why hasn't it got a real time profitable track record?
You already know the reason why!
You can make money at forex trading big money but you need to get the odds on your side and you need to trade longer term.
If you want a good forex education and to learn currency trading the right way, forget day trading and try long term forex trend following.
Forex markets do trend longer term, you can get the odds on your side and you can win which is more than can be said for forex day trading.
by Monica Hendrix
This article is all about forex day trading for beginners and what you need to know, to preserve your equity and win at forex trading.
The most important fact you need to know is that the odds are stacked against you and longer term, it's impossible to win. Have you seen a tempting day trading system with a track record of gains?
Then you will also find the warning below in the small print which is a sobering thought, showing you how the track record has been manufactured:
"CFTC RULE 4.41 - 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 shown".
All day trading forex courses and systems sold that I have seen have it.
You see some lovely track records, then in the small print, you get the above which simply means the system has never been traded and the track record made up using past data. That's made up KNOWING the closing prices!
Well that's not hard, a child could do it and so could you.
So why doesn't day trading work?
All you need to do is think about the dumb logic it's based on.
We have numerous millions of people all around the world, all with different skill levels, motivations, aims and forex trading strategies and you are going to have to decide, what this vast mass of people are going to do, in just a few hours.
Is it possible?
Of course not.
It's a fact, that all daily volatility is of a random nature and prices can go outside of daily support, resistance, pivot points or any other technical analysis tool you apply.
Look at any forex chart and this is obvious.
Because you can't get the odds on your side, your destined to lose - PERIOD.
The other point you need to keep in mind (if the above is not enough to convince you) is that day trading breaks a fundamental rule of investment:
Run your profits, to cover your losses.
So in day trading, you do keep losses small (and your going to get lots of them) but on the other hand, what does a day trader do if he is lucky enough to have a profit?
Run it? Not a chance - he cuts it!
So you have lots of small losses and marginal wins (now and again when your lucky) and this equates to an equity wipe out long term.
Don't be fooled by all the vendors telling you that you will win, you won't.
You could always ask the obvious question:
If the system is so good, why hasn't it got a real time profitable track record?
You already know the reason why!
You can make money at forex trading big money but you need to get the odds on your side and you need to trade longer term.
If you want a good forex education and to learn currency trading the right way, forget day trading and try long term forex trend following.
Forex markets do trend longer term, you can get the odds on your side and you can win which is more than can be said for forex day trading.
วันจันทร์ที่ 9 มิถุนายน พ.ศ. 2551
Forex Killer Review - Advanced Automated Forex Trading Signal Software
Forex Killer Review - Advanced Automated Forex Trading Signal Software
by Steven Blackman
Forex Killer System is an automated, forex trading signals generator developed by Andreas Kirschberger, which can help you to improve your forex trading business.
It's very for traders to decide whether to enter a trade or not. You see, the problem is that you have to analyze the data to see whether if the trade you are going to enter will profit you or make you to lose money. Many forex traders don't understand or don't know how to analyze the data and they lose lots of money without knowing why.
Basically, what Forex Killer does, it analyzes everything for you, and finds profitable trades for you, and work which is left for you is to accept or decline the trade. This way you can save tons of money, because there will be no guesswork, and the software is very reliable.
This software definitely makes the forex trader's life much easier. It's very difficult to find profitable trades yourself, and also you never know when to leave the trade, but Forex Killer tells you when to enter and leave the trade. Amazing, isn't?
Probably the best thing about Forex Killer is that it doesn't require any previous forex trading experience. It even works for complete beginners. There is also Forex Killer Probability Calculator, which calculates the chances of a specific trade to become profitable.
When you have statistical analysis right in front of you, it's not a big deal to decide whether to enter a trade or not, because you can see if it's profitable or not. Also with Forex Killer you won't miss a single profitable trade, unless you decide not to enter it yourself.So as you can see, there is not guesswork, because the software does all the work for you and you can just relax and watch your profits.
There is also another benefit of Forex Killer. The softwares comes with free for life regular updates and you don't have to pay anything for those updates. Your software will be up to date everyday.
You might think that it's some kind of illegal software, but I can assure you that it is a simple, legit software, which uses statistical analysis to find profitable trades and that's it.
It's very easy to use Forex Killer. When you get a signal, you just follow step-by-step instructions - place your stop loss and your profit target. After you've done that, just follow the system and see how much you are making and be ready to stop the trade, when Forex Killer tells you to.
I would like to mention here, that Forex Killer's Probably Calculator is not perfect, and doesn't always produce 100% accurate results. However, in most of the cases, you can trust this tool and follow what is says. The problem is that the trading system is extremely unpredictable and there is no software, which can tell you everything without any mistakes.
Conclusion
As I previously said, Forex Killer would be suitable for anyone. It doesn't matter, if you are experienced forex trader or you are just starting out, it won't be a problem for you to use it and increase your forex profits.
One more thing, that I love about Forex Killer is that there are no monthly payments for this software. You pay just once, and you will have the software forever. Many alternatives of Forex Killer charge people on monthly basis, which I personally think is rip-off, that's why I prefer Forex Killer.
So overall, Forex Killer is a great forex trading software to have, which is also easy to use and produces very effective and quick results. I am sure that this software can both improve advanced forex traders profits and also help beginners to make money online with forex.
by Steven Blackman
Forex Killer System is an automated, forex trading signals generator developed by Andreas Kirschberger, which can help you to improve your forex trading business.
It's very for traders to decide whether to enter a trade or not. You see, the problem is that you have to analyze the data to see whether if the trade you are going to enter will profit you or make you to lose money. Many forex traders don't understand or don't know how to analyze the data and they lose lots of money without knowing why.
Basically, what Forex Killer does, it analyzes everything for you, and finds profitable trades for you, and work which is left for you is to accept or decline the trade. This way you can save tons of money, because there will be no guesswork, and the software is very reliable.
This software definitely makes the forex trader's life much easier. It's very difficult to find profitable trades yourself, and also you never know when to leave the trade, but Forex Killer tells you when to enter and leave the trade. Amazing, isn't?
Probably the best thing about Forex Killer is that it doesn't require any previous forex trading experience. It even works for complete beginners. There is also Forex Killer Probability Calculator, which calculates the chances of a specific trade to become profitable.
When you have statistical analysis right in front of you, it's not a big deal to decide whether to enter a trade or not, because you can see if it's profitable or not. Also with Forex Killer you won't miss a single profitable trade, unless you decide not to enter it yourself.So as you can see, there is not guesswork, because the software does all the work for you and you can just relax and watch your profits.
There is also another benefit of Forex Killer. The softwares comes with free for life regular updates and you don't have to pay anything for those updates. Your software will be up to date everyday.
You might think that it's some kind of illegal software, but I can assure you that it is a simple, legit software, which uses statistical analysis to find profitable trades and that's it.
It's very easy to use Forex Killer. When you get a signal, you just follow step-by-step instructions - place your stop loss and your profit target. After you've done that, just follow the system and see how much you are making and be ready to stop the trade, when Forex Killer tells you to.
I would like to mention here, that Forex Killer's Probably Calculator is not perfect, and doesn't always produce 100% accurate results. However, in most of the cases, you can trust this tool and follow what is says. The problem is that the trading system is extremely unpredictable and there is no software, which can tell you everything without any mistakes.
Conclusion
As I previously said, Forex Killer would be suitable for anyone. It doesn't matter, if you are experienced forex trader or you are just starting out, it won't be a problem for you to use it and increase your forex profits.
One more thing, that I love about Forex Killer is that there are no monthly payments for this software. You pay just once, and you will have the software forever. Many alternatives of Forex Killer charge people on monthly basis, which I personally think is rip-off, that's why I prefer Forex Killer.
So overall, Forex Killer is a great forex trading software to have, which is also easy to use and produces very effective and quick results. I am sure that this software can both improve advanced forex traders profits and also help beginners to make money online with forex.
Forex Affiliate Program Tips
Forex Affiliate Program Tips
by Erika Ishikawa
When you do an affiliate online, there are so many factors you have to consider, such as which market to target, where you place your affiliate links on your website, and how you can earn the most cash out of it and so forth. If you make a mistake on which field you are doing your affiliate at and the choice of placing the banners or links, you will never earn a dime. The Forex affiliate programs are the great market among many others since it is a growing and high ROI field available.
If you are considering PPC, or Pay Per Click affiliates on your websites or blogs, Forex is not right for you. The PPC's work the best when you are targetting to the niche keywords. The keywords with long phrases like "dog training services best" might work well for PPC and can make you some reasonable amount of cash in the long run, however, if you are aiming for a solid prodcuts or services field on website or blog creations, Forex works great.
I would advise not to use PPC too much with the affiliate banners and links on your website. Just stick with one or two links of Forex, and make some pages explaining why Forex is a great way to invest your money, its features, and the comparisons and reviews of each Forex company. You can learn all of them online of you can just join them yourself. Just surf the web and you will find so many sources from which you are able to gather any information necessary to making your website as professional as possible. If you are not a technical person, I would suggest to make some blogs first to get going rather than attempting to make a website yourself that is not enhanced with SEO.
The Forex affiliate programs are great in the sense that its rate of commissions are fairly high. If you have any experience with the basic affiliate, you know that some affiliate programs only pay the low rate commissions to you. For instance, if you join eBay Partner or Amazon Associates programs, you will be amazed how low the rates are. On the contrary, if you join any Forex programs, you can see that you will actually earn high reate of commission money in return. If you were to spend your precious time, you always have to take the ROI into account. The time you spend to making websites and blogs should be proportional to the money you earn in return. If you think what you are earning right now is fair, I would not say anything, but if you are not satisfied, I would recommend joining a Forex affiliate program. Also, if you decide that Forex is not for you but you would like to earn money with PPC, the program below will turn your internet business upside down. Take a look at the pitch page youself and see it for yourself.
by Erika Ishikawa
When you do an affiliate online, there are so many factors you have to consider, such as which market to target, where you place your affiliate links on your website, and how you can earn the most cash out of it and so forth. If you make a mistake on which field you are doing your affiliate at and the choice of placing the banners or links, you will never earn a dime. The Forex affiliate programs are the great market among many others since it is a growing and high ROI field available.
If you are considering PPC, or Pay Per Click affiliates on your websites or blogs, Forex is not right for you. The PPC's work the best when you are targetting to the niche keywords. The keywords with long phrases like "dog training services best" might work well for PPC and can make you some reasonable amount of cash in the long run, however, if you are aiming for a solid prodcuts or services field on website or blog creations, Forex works great.
I would advise not to use PPC too much with the affiliate banners and links on your website. Just stick with one or two links of Forex, and make some pages explaining why Forex is a great way to invest your money, its features, and the comparisons and reviews of each Forex company. You can learn all of them online of you can just join them yourself. Just surf the web and you will find so many sources from which you are able to gather any information necessary to making your website as professional as possible. If you are not a technical person, I would suggest to make some blogs first to get going rather than attempting to make a website yourself that is not enhanced with SEO.
The Forex affiliate programs are great in the sense that its rate of commissions are fairly high. If you have any experience with the basic affiliate, you know that some affiliate programs only pay the low rate commissions to you. For instance, if you join eBay Partner or Amazon Associates programs, you will be amazed how low the rates are. On the contrary, if you join any Forex programs, you can see that you will actually earn high reate of commission money in return. If you were to spend your precious time, you always have to take the ROI into account. The time you spend to making websites and blogs should be proportional to the money you earn in return. If you think what you are earning right now is fair, I would not say anything, but if you are not satisfied, I would recommend joining a Forex affiliate program. Also, if you decide that Forex is not for you but you would like to earn money with PPC, the program below will turn your internet business upside down. Take a look at the pitch page youself and see it for yourself.
Forex Trading Systems
Forex Trading Systems - a One Rule FREE System For Big Profits!
by kelly Price
Here we will outline a forex trading system which consists of just one rule anyone can use and apply for big profits. This system takes the guesswork out of forex trading - all you do is follow the rule and you can make big gains...
The forex trading system we are going to look at here is called the 4 Week Rule and it's been around since the late seventies, when trading legend Richard Donchian developed it to trade commodities.
It works on any trending market and forex markets trend well here is the rule:
When the price hits a new high in a four week period, buy long and cover short positions. If the price fall to a four week low reverse and sell short.
Its so simple and your probably wondering does that simple rule really make money?
Well the answer is yes it does - simply test it and see.
Just because its simple doesn't mean it doesn't make money, all the best forex trading systems are simple.
This forex trading system has been used by some of the top traders around the world, as a basis for their forex trading strategies and if its good enough for them, then its good enough for you and me.
Does it have a downside?
Yes, it will get you in on every major move and when markets are trending, it will perform well - but when they go sideways, the system can get chopped about, so consider filtering the exit:
Smoothing the Equity Curve
Exist on a 1 or 2 week low or high and go flat. Execute the next open position on the 4 week rule. You can also use a moving average as a stop - test and see which gives you the best drawdown to gains.
When executing this system you need to have discipline and be aware its not fussy on pinpoint market timing and it doesn't trade that often. However, for the patient trader who is looking for a long term system which takes just 20 minutes a day and is proven to work - it's a fantastic system and its free.
Breakout trading works and with forex markets being such great trending markets, you can see why this system is a great one, for any trader seeking long term currency trading success.
Most traders will dismiss it as its simple but that's a mistake.
You get lots of systems that are clever and are based on chaos theory, neural networks and all sorts of science - but science and complicated systems, don't beat simple ones and that's a fact.
If science and complexity did help, we would have more winning traders than we did 50 years ago and we don't. The ratio still remains the same - 95% lose 5% win.
So try the 4 Week rule and you will be surprised, at how powerful and profitable this system can be.
It's free, proven and could help you enjoy currency trading success - check it out.
by kelly Price
Here we will outline a forex trading system which consists of just one rule anyone can use and apply for big profits. This system takes the guesswork out of forex trading - all you do is follow the rule and you can make big gains...
The forex trading system we are going to look at here is called the 4 Week Rule and it's been around since the late seventies, when trading legend Richard Donchian developed it to trade commodities.
It works on any trending market and forex markets trend well here is the rule:
When the price hits a new high in a four week period, buy long and cover short positions. If the price fall to a four week low reverse and sell short.
Its so simple and your probably wondering does that simple rule really make money?
Well the answer is yes it does - simply test it and see.
Just because its simple doesn't mean it doesn't make money, all the best forex trading systems are simple.
This forex trading system has been used by some of the top traders around the world, as a basis for their forex trading strategies and if its good enough for them, then its good enough for you and me.
Does it have a downside?
Yes, it will get you in on every major move and when markets are trending, it will perform well - but when they go sideways, the system can get chopped about, so consider filtering the exit:
Smoothing the Equity Curve
Exist on a 1 or 2 week low or high and go flat. Execute the next open position on the 4 week rule. You can also use a moving average as a stop - test and see which gives you the best drawdown to gains.
When executing this system you need to have discipline and be aware its not fussy on pinpoint market timing and it doesn't trade that often. However, for the patient trader who is looking for a long term system which takes just 20 minutes a day and is proven to work - it's a fantastic system and its free.
Breakout trading works and with forex markets being such great trending markets, you can see why this system is a great one, for any trader seeking long term currency trading success.
Most traders will dismiss it as its simple but that's a mistake.
You get lots of systems that are clever and are based on chaos theory, neural networks and all sorts of science - but science and complicated systems, don't beat simple ones and that's a fact.
If science and complexity did help, we would have more winning traders than we did 50 years ago and we don't. The ratio still remains the same - 95% lose 5% win.
So try the 4 Week rule and you will be surprised, at how powerful and profitable this system can be.
It's free, proven and could help you enjoy currency trading success - check it out.
Forex Trend Following - How to Make Big Gains With Low Risk
Forex Trend Following - How to Make Big Gains With Low Risk
by kelly Price
Forex markets trend and if you look at a forex chart the big trends last for weeks or months and it's these trends you need to lock into to make big profits. Forget, short term moves forex trend following means longer term and bigger profits.
If you want to forex trend follow and make a lot of money with low risk, use the tips below in your forex trading strategy and you could soon be making triple digit gains.
First - you need patience the high odds breaks were looking for don't come around every day, you will get probably 5 - 6 big high odds trades per currency each year.
You need to wait for them.
Don't worry, I know traders who make triple digit gains trading just a few times a year. Remember - you are judged on the accuracy of your trading signal and market timing, nothing else and to be accurate you need to wait.
Second - Buy breakouts.
It's a proven fact that most big trends start from new market highs or lows and while it may appear, you have missed a bit of the move, the odds favor a continuation.
You need breakouts though that are valid and not all breakouts are the same in terms of the odds.
The best breakouts, feature several tests in several different time frames and the wider they are spaced apart the better. Generally, the more uncomfortable you feel and the more people who disagree with your trading signal the better - remember only a small minority win.
Most traders hate breakouts, they want to wait for a pullback ( which never comes) to get in at a better price - grit your teeth the odds are in your favor!
You should also use some momentum oscillators to confirm the move. We don't have time to discuss them here ( look up our other articles ) but they will tell you price velocity is moving in your favor and increase the odds of success.
NEVER - Buy or sell a breakout which is NOT supported by momentum.
Once the breakout occurs, your stop is easy - right below the breakout point.
The real key to forex trend following and milking the trends for all there worth is the way you move your stop. Most traders trail to quickly and get bumped out.
They then see the trend go back the way they though piling up thousands of dollars!
Don't let this happen to you. WAIT.
You want the trend well underway, before trailing your stop and you want to keep it behind random volatility ( if you don't know what standard deviation of price is make it an essential part of your forex trading education).
Accept that to hold the longer term trends, you are going to have to take short term price swings against you which eat into your open equity in the short term.
Don't worry to much about this.
You are after the bigger price at the end of the trade. Once a trend is in motion, we like to trail stops behind the 40 day ma. Sure, we give a bit back at the end but you don't know when a trend is over, or how long it will last, so there is no point in predicting.
Keep in mind, if you caught just 50% of every major trend, you would be very rich.
Does the above sound simple?
It is in terms of theory - but you must be disciplined in the execution and holding of your trades. No second guessing what the market may, or may not do!
Trend following forex, with a simple robust forex trading system based upon breakouts, will make money and will continue to make money and can help anyone achieve currency trading success.
by kelly Price
Forex markets trend and if you look at a forex chart the big trends last for weeks or months and it's these trends you need to lock into to make big profits. Forget, short term moves forex trend following means longer term and bigger profits.
If you want to forex trend follow and make a lot of money with low risk, use the tips below in your forex trading strategy and you could soon be making triple digit gains.
First - you need patience the high odds breaks were looking for don't come around every day, you will get probably 5 - 6 big high odds trades per currency each year.
You need to wait for them.
Don't worry, I know traders who make triple digit gains trading just a few times a year. Remember - you are judged on the accuracy of your trading signal and market timing, nothing else and to be accurate you need to wait.
Second - Buy breakouts.
It's a proven fact that most big trends start from new market highs or lows and while it may appear, you have missed a bit of the move, the odds favor a continuation.
You need breakouts though that are valid and not all breakouts are the same in terms of the odds.
The best breakouts, feature several tests in several different time frames and the wider they are spaced apart the better. Generally, the more uncomfortable you feel and the more people who disagree with your trading signal the better - remember only a small minority win.
Most traders hate breakouts, they want to wait for a pullback ( which never comes) to get in at a better price - grit your teeth the odds are in your favor!
You should also use some momentum oscillators to confirm the move. We don't have time to discuss them here ( look up our other articles ) but they will tell you price velocity is moving in your favor and increase the odds of success.
NEVER - Buy or sell a breakout which is NOT supported by momentum.
Once the breakout occurs, your stop is easy - right below the breakout point.
The real key to forex trend following and milking the trends for all there worth is the way you move your stop. Most traders trail to quickly and get bumped out.
They then see the trend go back the way they though piling up thousands of dollars!
Don't let this happen to you. WAIT.
You want the trend well underway, before trailing your stop and you want to keep it behind random volatility ( if you don't know what standard deviation of price is make it an essential part of your forex trading education).
Accept that to hold the longer term trends, you are going to have to take short term price swings against you which eat into your open equity in the short term.
Don't worry to much about this.
You are after the bigger price at the end of the trade. Once a trend is in motion, we like to trail stops behind the 40 day ma. Sure, we give a bit back at the end but you don't know when a trend is over, or how long it will last, so there is no point in predicting.
Keep in mind, if you caught just 50% of every major trend, you would be very rich.
Does the above sound simple?
It is in terms of theory - but you must be disciplined in the execution and holding of your trades. No second guessing what the market may, or may not do!
Trend following forex, with a simple robust forex trading system based upon breakouts, will make money and will continue to make money and can help anyone achieve currency trading success.
Forex Charting - Getting Started in Forex Charting the Basics
Forex Charting - Getting Started in Forex Charting the Basics
by Monica Hendrix
Forex Charting is something anyone can learn and anyone can make profits with here we are going to go through the basics of what you need to get started.
Were going to assume you already know the logic of forex charts and why they work if you don't look at our other articles. Right lets get started on the basics of forex charting.
Time Period
Forex markets trend and you can see these trends on a chart and you are going to have to decide, what time period you want to trade.
You can day trade ( moves within the day), swing trade within the major trend (moves that last around a couple of days to week), or long term trend follow (moves that last weeks or months)
Don't try forex day trading or scalping.
The time period is to short and volatility is random and this means you will lose. This leaves you with a choice between swing trading and long term forex trend following.
Swing trading, suits the trader who likes lots of action and lacks patience and it also requires less discipline than trend following, as profits and losses come quickly.
Forex trend following requires patience and discipline - but can be very lucrative, if you lock into the big trends.
Keep It Simple
Forex charting is essentially about keeping it simple and our view is all you need is to use chart formations, support and resistance and a few confirming momentum indicators, to make sure when you execute a trading signal, you have momentum on your side.
The reason simple systems work best is - they are robust and have fewer elements to break than complicated ones.
Now let's look at the basics of technical analysis applied to swing trading and trend following.
Basics of Swing Trading
You are simply looking for support and resistance levels to hold and trading into them. When you do this always do the following:
- Wait for momentum to turn down from support or resistance and execute your trading signal. No predicting wait for confirmation from momentum to get the odds on your side.
- Place your stop immediately and look to take your profit early you are not interested in trailing stops - take the trade in just before the resistance or support is tested.
Long Term Trend Following.
Here you can buy into levels of support or resistance - but the bulk of your trades should be to buy or sell breakouts to new chart highs or lows.
It's proven that most big moves start form these breaks and you can see this on any forex chart.
The way to execute forex trend following trades is different to swing trading:
- Again execute your trade in line with momentum.
- Next place your stop
- Now here comes the part that will determine how much money you make - trailing your stop.
Most traders are so keen to lock in profits they trail stops too quickly and get bumped out the move early. You're after the big trends and you need to stay with them and that means trailing your stop behind random volatility.
We like to trail the stop behind the 40 day MA and while this may sound wide ( it is ) it will keep you in the big trends for longer and remember, if you caught just 50% of every major trend you would be very rich!
A Simple Route to FX Profits any Trader Can Learn
To get started with forex charts and get a simple system together should only take about a week and then your all set to get down to making some serious forex profits.
We keep it simple in our forex trading strategy, just basic bar charts a few momentum indicators and that's it and you should to.
A simple forex trading system will make money, if you apply it with discipline and lead you to currency trading success.
by Monica Hendrix
Forex Charting is something anyone can learn and anyone can make profits with here we are going to go through the basics of what you need to get started.
Were going to assume you already know the logic of forex charts and why they work if you don't look at our other articles. Right lets get started on the basics of forex charting.
Time Period
Forex markets trend and you can see these trends on a chart and you are going to have to decide, what time period you want to trade.
You can day trade ( moves within the day), swing trade within the major trend (moves that last around a couple of days to week), or long term trend follow (moves that last weeks or months)
Don't try forex day trading or scalping.
The time period is to short and volatility is random and this means you will lose. This leaves you with a choice between swing trading and long term forex trend following.
Swing trading, suits the trader who likes lots of action and lacks patience and it also requires less discipline than trend following, as profits and losses come quickly.
Forex trend following requires patience and discipline - but can be very lucrative, if you lock into the big trends.
Keep It Simple
Forex charting is essentially about keeping it simple and our view is all you need is to use chart formations, support and resistance and a few confirming momentum indicators, to make sure when you execute a trading signal, you have momentum on your side.
The reason simple systems work best is - they are robust and have fewer elements to break than complicated ones.
Now let's look at the basics of technical analysis applied to swing trading and trend following.
Basics of Swing Trading
You are simply looking for support and resistance levels to hold and trading into them. When you do this always do the following:
- Wait for momentum to turn down from support or resistance and execute your trading signal. No predicting wait for confirmation from momentum to get the odds on your side.
- Place your stop immediately and look to take your profit early you are not interested in trailing stops - take the trade in just before the resistance or support is tested.
Long Term Trend Following.
Here you can buy into levels of support or resistance - but the bulk of your trades should be to buy or sell breakouts to new chart highs or lows.
It's proven that most big moves start form these breaks and you can see this on any forex chart.
The way to execute forex trend following trades is different to swing trading:
- Again execute your trade in line with momentum.
- Next place your stop
- Now here comes the part that will determine how much money you make - trailing your stop.
Most traders are so keen to lock in profits they trail stops too quickly and get bumped out the move early. You're after the big trends and you need to stay with them and that means trailing your stop behind random volatility.
We like to trail the stop behind the 40 day MA and while this may sound wide ( it is ) it will keep you in the big trends for longer and remember, if you caught just 50% of every major trend you would be very rich!
A Simple Route to FX Profits any Trader Can Learn
To get started with forex charts and get a simple system together should only take about a week and then your all set to get down to making some serious forex profits.
We keep it simple in our forex trading strategy, just basic bar charts a few momentum indicators and that's it and you should to.
A simple forex trading system will make money, if you apply it with discipline and lead you to currency trading success.
วันศุกร์ที่ 6 มิถุนายน พ.ศ. 2551
A Review Of The Ark Trade Managed Forex Program
A Review Of The Ark Trade Managed Forex Program
by Brian Garvin And Jeff West
Description: Find out the truth about the Ark Trade Managed Forex Program and see if it is right for you at this time. Please read our unbiased review of the Ark Trade Managed Forex Program.
The Ark Trade Managed Forex program offers people the ability to get into Forex trading through a robotic trading technology. There are many benefits to joining Ark Trade and many things you might want to know about the company before you make a decision to join.
The robots through the Ark Trade Managed Forex program are designed and programmed with the trading strategies and techniques the experts know. They known how to place trades, watch, adjust, and also close trades.
You can trust your investments through the Ark Trade robotic system because they are highly intelligent continuously watching for the most profitable entry and exit points for every investment.
The robotic advantage removes second guessing, your mood for the day, and uses only pure facts to place financial decisions on trading. It is too common people lose their money because they made an emotional decision because they were in a bad mood that day.
The minimum deposit required to begin trading with the Ark Trade Managed Forex program is $5000. Your funds will be held in your own individual account. You will retain the rights to make deposits and withdrawals from your account at any given time. No one can make withdrawals or deposits from this account but you.
You will give Ark Trade the power of attorney that is limited so the money manager can trade your funds and make you the most money possible. You will be given read access to your account so you can track the profits and looses as much as you like.
The great thing about opening an Ark Trade Managed Forex program account is that there is not a learning curve. There isn't any software for you to learn and you don't have to manage your account at all.
The Ark Trade robotic program does everything for you. You will have no stress with your trading program. If you do see something you would like to trade on then you can call your Ark Trade broker and let them know how you want your funds traded.
The most important thing you should know about the Ark Trade Managed Forex program is that any type of trading program there is an inherent risk associated with trades. You can take the risk of losing most of your money and there is a risk of making a large amount of money.
The robots are designed to trade based on trends and facts. They don't have feelings or gain hunches like people do. There is never a guarantee that you will make money and when you join Ark Trade you need to be fully aware of the risk associated with trading.
If you join the Ark Trade Managed Forex program then you are getting in on one of the best ways to trade today. You eliminate all of the stress associated with trading when you let the robotic systems do everything for you. Robotic systems are even better than financial advisors because they trade based on facts of trends and not on hunches or hearsay.
by Brian Garvin And Jeff West
Description: Find out the truth about the Ark Trade Managed Forex Program and see if it is right for you at this time. Please read our unbiased review of the Ark Trade Managed Forex Program.
The Ark Trade Managed Forex program offers people the ability to get into Forex trading through a robotic trading technology. There are many benefits to joining Ark Trade and many things you might want to know about the company before you make a decision to join.
The robots through the Ark Trade Managed Forex program are designed and programmed with the trading strategies and techniques the experts know. They known how to place trades, watch, adjust, and also close trades.
You can trust your investments through the Ark Trade robotic system because they are highly intelligent continuously watching for the most profitable entry and exit points for every investment.
The robotic advantage removes second guessing, your mood for the day, and uses only pure facts to place financial decisions on trading. It is too common people lose their money because they made an emotional decision because they were in a bad mood that day.
The minimum deposit required to begin trading with the Ark Trade Managed Forex program is $5000. Your funds will be held in your own individual account. You will retain the rights to make deposits and withdrawals from your account at any given time. No one can make withdrawals or deposits from this account but you.
You will give Ark Trade the power of attorney that is limited so the money manager can trade your funds and make you the most money possible. You will be given read access to your account so you can track the profits and looses as much as you like.
The great thing about opening an Ark Trade Managed Forex program account is that there is not a learning curve. There isn't any software for you to learn and you don't have to manage your account at all.
The Ark Trade robotic program does everything for you. You will have no stress with your trading program. If you do see something you would like to trade on then you can call your Ark Trade broker and let them know how you want your funds traded.
The most important thing you should know about the Ark Trade Managed Forex program is that any type of trading program there is an inherent risk associated with trades. You can take the risk of losing most of your money and there is a risk of making a large amount of money.
The robots are designed to trade based on trends and facts. They don't have feelings or gain hunches like people do. There is never a guarantee that you will make money and when you join Ark Trade you need to be fully aware of the risk associated with trading.
If you join the Ark Trade Managed Forex program then you are getting in on one of the best ways to trade today. You eliminate all of the stress associated with trading when you let the robotic systems do everything for you. Robotic systems are even better than financial advisors because they trade based on facts of trends and not on hunches or hearsay.
How To Choose the Right Trading System?
How To Choose the Right Trading System?
by July Wirawan
You may have ever received an email promoting a trading system on stocks, forex, futures, etc. Talking about trading systems, there are hundreds or even thousands of them. Every single one claims to be the best. If you want to be successful in stock trading, you should have and follow a trading system, whether you build it yourself after a process of trial and error or you buy one from a third party. If you want to take a short cut, you may consider purchasing a system established by someone else.
The question is with such numerous systems to choose from, which one is right for you? A good one may not be the best for you. So here are some things to consider. 1. Choose a system in line with your objective. Not every trading system is suitable for everyone. For example, if you do not have time to monitor the screen all day, then a trading system offering a scalping method is certainly not for you. 2. Test drive the system beforehand. Many of the systems offer a certain period for you to test drive, such as 30-day trial period for free. Take a good advantage of this opportunity before you decide to purchase one. 3. Explore the historical performance. Many of the systems show how they perform in the past. Check out if you could see their performance as far back as possible. Sometimes I email the contact person and they send me more detail information than just stated on their website. Especially important, learn how they perform in bad times whether they can still outperform the broader market in such condition. 4. Learn their strategy. This means you should understand how they set up their entry point, exit point, as well as their stop loss point. Exit point is just as important as the entry point as it determines when and how much you should take profit or cut loss your position. Learn also how the system sets up the stop loss and whether it suits your trading style. Some systems aim for bigger profit but may tolerate bigger losses as well.
Once you find the trading system you believe is right for you, take some time to trade virtually before you risk your real money. This will allow you to get yourself familiar with the method as well as build your confidence. Building confidence on the system is extremely important as that is the only reason why you stick to the system during bad times.
by July Wirawan
You may have ever received an email promoting a trading system on stocks, forex, futures, etc. Talking about trading systems, there are hundreds or even thousands of them. Every single one claims to be the best. If you want to be successful in stock trading, you should have and follow a trading system, whether you build it yourself after a process of trial and error or you buy one from a third party. If you want to take a short cut, you may consider purchasing a system established by someone else.
The question is with such numerous systems to choose from, which one is right for you? A good one may not be the best for you. So here are some things to consider. 1. Choose a system in line with your objective. Not every trading system is suitable for everyone. For example, if you do not have time to monitor the screen all day, then a trading system offering a scalping method is certainly not for you. 2. Test drive the system beforehand. Many of the systems offer a certain period for you to test drive, such as 30-day trial period for free. Take a good advantage of this opportunity before you decide to purchase one. 3. Explore the historical performance. Many of the systems show how they perform in the past. Check out if you could see their performance as far back as possible. Sometimes I email the contact person and they send me more detail information than just stated on their website. Especially important, learn how they perform in bad times whether they can still outperform the broader market in such condition. 4. Learn their strategy. This means you should understand how they set up their entry point, exit point, as well as their stop loss point. Exit point is just as important as the entry point as it determines when and how much you should take profit or cut loss your position. Learn also how the system sets up the stop loss and whether it suits your trading style. Some systems aim for bigger profit but may tolerate bigger losses as well.
Once you find the trading system you believe is right for you, take some time to trade virtually before you risk your real money. This will allow you to get yourself familiar with the method as well as build your confidence. Building confidence on the system is extremely important as that is the only reason why you stick to the system during bad times.
Currency Trading With Great Tips
Currency Trading With Great Tips
by Charles Nash
Currency trading with great tips can help you push your trading from mediocre to great. This is an exciting market to get into where you get to work from the comfort of your own home and generate an income solely by yourself. That may scare some, but it is liberating to others.
How important is the news?
I think it is very important, but you don't have to look at it that way. The way I view it is that it is free information. I get up in the morning, turn on the television and watch it while I drink my coffee. It's like my free personal consultant.
You need to pay particular attention to the news that is talking about the economy or will have an affect on the economy. The most important piece of news is an interest rate change by the central bank in your country. This basically signifies that the supply of money in the economy will change, which means the price of currency will change. You will also want to watch out for news on GDP, consumer spending and unemployment.
When should I trade?
I think the best time to trade is during the peak hours. This means there is a lot of people trading and a lot of money moving around. The reason to trade at this time is to ensure that market forces are in control and no one trader can manipulate the market. At this time a big bank could make a huge trade, and the affects would be minor because so many other people are trading. If you look at an off-peak time, this same bank could cause a currency to go in a completely opposite direction.
What software should I use?
The best software I've come across is Forex Killer. It is able to find profitable trends, so you can make more profitable trades. It also has automation features that allow the software to look after trades while you're away from the computer. It's like having a second employee that works 24hrs a day. It is an essential tool for your toolbox.
by Charles Nash
Currency trading with great tips can help you push your trading from mediocre to great. This is an exciting market to get into where you get to work from the comfort of your own home and generate an income solely by yourself. That may scare some, but it is liberating to others.
How important is the news?
I think it is very important, but you don't have to look at it that way. The way I view it is that it is free information. I get up in the morning, turn on the television and watch it while I drink my coffee. It's like my free personal consultant.
You need to pay particular attention to the news that is talking about the economy or will have an affect on the economy. The most important piece of news is an interest rate change by the central bank in your country. This basically signifies that the supply of money in the economy will change, which means the price of currency will change. You will also want to watch out for news on GDP, consumer spending and unemployment.
When should I trade?
I think the best time to trade is during the peak hours. This means there is a lot of people trading and a lot of money moving around. The reason to trade at this time is to ensure that market forces are in control and no one trader can manipulate the market. At this time a big bank could make a huge trade, and the affects would be minor because so many other people are trading. If you look at an off-peak time, this same bank could cause a currency to go in a completely opposite direction.
What software should I use?
The best software I've come across is Forex Killer. It is able to find profitable trends, so you can make more profitable trades. It also has automation features that allow the software to look after trades while you're away from the computer. It's like having a second employee that works 24hrs a day. It is an essential tool for your toolbox.
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