Effective Reliable Forex Strategy - What Does it Take
by Samuel Gibsten
It seems that everywhere you turn in this day and age there is someone who is trying to convince you that they have solved the puzzle of effective forex, commodities or stock market trading. While in the vast majority of these instances, a good measurable degree of doubt is highly advised in some cases there may be some merit to their claims. The fact remains, that international currencies do have relevant factors that are considered in determining their values. What those factors are, how they can be determined and most importantly when they are determined is key to formulating an effective and reliable forex strategy.
Timing is of the Essence
Timing is everything in formulating a forex strategy. This is because, if you have a clear view of the direction that any one currency is going to take, it must be seen at least a day before the predicted movement. While this may seem obvious, the fact remains that the further back from a currencies movement that accurate predictions can be reliably, made the greater the potential for greater financial rewards.
Reliability is Crucial
Reliability is also key. The reason for this is that one main goal of any effective forex trading strategy is to effectively block any room for emotions to take hold during trades. This means that the more solidly a trading strategy can be relied on to pay off, the less likely that doubt can rear its ugly head and muddle otherwise clear concepts that have been previously decided on.
The Forex Trading System
One very effective tool that is finding its way into more effective forex trading strategies is the automatic forex trading system. These systems process and chart complex relevant data in such a way that renders it more "immediately" usable in a comprehensive forex trading strategy. While some traders will rely entirely on the results garnered from their forex trading system others will use their results as a parcel of a more complex theoretical system.
วันเสาร์ที่ 26 กรกฎาคม พ.ศ. 2551
Can the Best Forex Trading System Make You Money
Can the Best Forex Trading System Make You Money
by Samuel Gibsten
For as long as humans have been engaging in commerce, people everywhere have been trying to unlock its secrets. What is it that drives economic systems to behave the way that they do? Now that people everywhere are trading in world currencies, these mysteries have even grown that much deeper. The fact is, that what determines the actual value of a countries currency is numerous mitigating factors that weave and intertwine with each other to create a total system. Understanding this untold multitude of mitigating factors and how they engage and react with each other, is key to predetermining the direction that a currency will take on any given day.
How They are Used in Determining Trades
Currently there are numerous forex trading systems that are being used by people to one degree or another, during the course of their transactions. For some people, a forex trading system is used to completely determine the trades that they make with varying degrees of success. Other people tend to use their forex trading system simply as a tool to assist them in their decision making while making currency trades.
Change is Constant
Either way, a forex trading system is only as good as the data that it uses to calculate its decisions. Another thing to consider with regards to determining the best forex trading system to use and how to use it, is that the world is a changing place. What this means is that what may work fine this years may not be as effective the following year.
Accuracy Counts in the Best Forex Trading Systems
Who could have predicted that the price of crude oil would reach the levels that it has in recent months? In fact, there are people who did predict it and did load that data into their forex trading systems and consequently reaped the rewards. It is the accuracy and the timeliness of the data that goes into a forex trading system, that in the end determines if it is the best forex trading system on the market.
by Samuel Gibsten
For as long as humans have been engaging in commerce, people everywhere have been trying to unlock its secrets. What is it that drives economic systems to behave the way that they do? Now that people everywhere are trading in world currencies, these mysteries have even grown that much deeper. The fact is, that what determines the actual value of a countries currency is numerous mitigating factors that weave and intertwine with each other to create a total system. Understanding this untold multitude of mitigating factors and how they engage and react with each other, is key to predetermining the direction that a currency will take on any given day.
How They are Used in Determining Trades
Currently there are numerous forex trading systems that are being used by people to one degree or another, during the course of their transactions. For some people, a forex trading system is used to completely determine the trades that they make with varying degrees of success. Other people tend to use their forex trading system simply as a tool to assist them in their decision making while making currency trades.
Change is Constant
Either way, a forex trading system is only as good as the data that it uses to calculate its decisions. Another thing to consider with regards to determining the best forex trading system to use and how to use it, is that the world is a changing place. What this means is that what may work fine this years may not be as effective the following year.
Accuracy Counts in the Best Forex Trading Systems
Who could have predicted that the price of crude oil would reach the levels that it has in recent months? In fact, there are people who did predict it and did load that data into their forex trading systems and consequently reaped the rewards. It is the accuracy and the timeliness of the data that goes into a forex trading system, that in the end determines if it is the best forex trading system on the market.
Foreign Exchange Trading: Making Money without Too Much Work
Foreign Exchange Trading: Making Money without Too Much Work
by Roy Tiah
You are probably wondering why every time you go out of the country either for work, business or for leisure purposes, you get to experience various exchange rates, depending on what country you are in, which more often cause your money to become less or bigger in value at a certain point.
What you get to experience are only the effects of what is called currency trading or much known as Foreign Exchange or forex trading.
Forex trading is an exchange of currencies-- buying and selling of currencies-- among the countries and is being facilitated in the Foreign Exchange Market.
There are various categories of participants playing in the Foreign Echange Market. Among those are the consumers, businesses, speculators, investors, commercial banks, investment banks and central banks of various countries.
Since most of the players of the forex trading include giant banks, people tend to have an impression that forex currency trading is only for those who have big capitals like those big-time investors. Additionally, for many, they think that forex trading is merely a means of exchanging currency for you to be able to purchase a good or service from a country with different money.
What most people do not realize is that, anyone can greatly make money from forex currency trading. Anyone can participate in the forex Market and perform their trades. Even if you are a person with small capital, you can certainly invest to it.
Investing in currency trading or in forex is one of the wisest forms of business to have nowadays. It is like investing using your money to create more money. As a matter of fact, if you go to other countries today like Singapore, a lot of people have been learning the systems in foreign exchange trading so as they can participate in the forex Market, wherein they can invest their money and make money faster than anyone can ever think of.
Compare to the other money making investments, forex trading is something that offers a lot of benefits to its investors. It does not merely produce money but it also gives opportunity to its investors to earn profit even while staying at home, doing other stuff or merely taking rest.
Through online forex trading, which is now largely done worldwide, investors can certainly earn money even while they are just sitting at home and watching their favorite television program. What they need is just a set of computer or even just a mobile phone and an internet connection then, they can already perform their trade and make money.
Unlike other businesses, online currency trading does not require you to be in an office everyday, which causes you to wake up early in the morning; skipping your breakfast sometimes and face traffic everyday because you need to rush to work.
Online forex trading works 24 hours everyday, except on Saturdays and Sundays that is why there is no need for you to rush. You can have your trade even after all of your other appointments. You can check out the forex market even before you go to sleep at night. So, why rush on things, if you can be able to make money without hurrying up yourself as if you are in a sprint marathon.
These are only few of those many benefits that you can get from forex trading. So why waste your time now? Start making money now with online forex trading and experience earning profit without too much work.
by Roy Tiah
You are probably wondering why every time you go out of the country either for work, business or for leisure purposes, you get to experience various exchange rates, depending on what country you are in, which more often cause your money to become less or bigger in value at a certain point.
What you get to experience are only the effects of what is called currency trading or much known as Foreign Exchange or forex trading.
Forex trading is an exchange of currencies-- buying and selling of currencies-- among the countries and is being facilitated in the Foreign Exchange Market.
There are various categories of participants playing in the Foreign Echange Market. Among those are the consumers, businesses, speculators, investors, commercial banks, investment banks and central banks of various countries.
Since most of the players of the forex trading include giant banks, people tend to have an impression that forex currency trading is only for those who have big capitals like those big-time investors. Additionally, for many, they think that forex trading is merely a means of exchanging currency for you to be able to purchase a good or service from a country with different money.
What most people do not realize is that, anyone can greatly make money from forex currency trading. Anyone can participate in the forex Market and perform their trades. Even if you are a person with small capital, you can certainly invest to it.
Investing in currency trading or in forex is one of the wisest forms of business to have nowadays. It is like investing using your money to create more money. As a matter of fact, if you go to other countries today like Singapore, a lot of people have been learning the systems in foreign exchange trading so as they can participate in the forex Market, wherein they can invest their money and make money faster than anyone can ever think of.
Compare to the other money making investments, forex trading is something that offers a lot of benefits to its investors. It does not merely produce money but it also gives opportunity to its investors to earn profit even while staying at home, doing other stuff or merely taking rest.
Through online forex trading, which is now largely done worldwide, investors can certainly earn money even while they are just sitting at home and watching their favorite television program. What they need is just a set of computer or even just a mobile phone and an internet connection then, they can already perform their trade and make money.
Unlike other businesses, online currency trading does not require you to be in an office everyday, which causes you to wake up early in the morning; skipping your breakfast sometimes and face traffic everyday because you need to rush to work.
Online forex trading works 24 hours everyday, except on Saturdays and Sundays that is why there is no need for you to rush. You can have your trade even after all of your other appointments. You can check out the forex market even before you go to sleep at night. So, why rush on things, if you can be able to make money without hurrying up yourself as if you are in a sprint marathon.
These are only few of those many benefits that you can get from forex trading. So why waste your time now? Start making money now with online forex trading and experience earning profit without too much work.
The Basics of Forex Market Trading Explained
The Basics of Forex Market Trading Explained
by Samuel Gibsten
If you think that the largest financial market in the world that sees the most financial activity each day are the the stock markets around the globe, you are mistaken. The market that sees the most money changing hands on a day to day basis is the foreign exchange market, otherwise known as the forex market. What people buy and sell in this incredibly active international exchange is the currencies of the world. While all currencies can be bought and sold in the forex market, it is five major global currencies that account for the major portion of the trade that transpires.
Major Forex Trading Cities of the World
While there is are centralized locations specifically set aside for forex trading, there are areas of the globe that are universally recognized as major forex trading centers. New York, London, Paris, Hong Kong, Frankfurt and Singapore are all cities that have a heavy amount of forex trading taking place in them.
The Major Players
While anyone can take part in forex trading, it is large banking institutions and major multinational corporations that are the most heavily involved in it. Why is this so? The answer to that question is that they really have no choice. These entities have huge sums of capital and if it just left in a bank account, it will eventual depreciate in value over time.
Huge Profit Potential
By moving it around and exchanging it for different major currencies of the world, if it is done right they can stay ahead of the curve, so to speak, and see the value of their cash holdings, in fact, increase over time. In recent years however, more smaller investors have discovered forex trading and with margin accounts or leverages as high as 200 -1, its easy to see how someone can make a lot of profit if they understand how the game is played.
by Samuel Gibsten
If you think that the largest financial market in the world that sees the most financial activity each day are the the stock markets around the globe, you are mistaken. The market that sees the most money changing hands on a day to day basis is the foreign exchange market, otherwise known as the forex market. What people buy and sell in this incredibly active international exchange is the currencies of the world. While all currencies can be bought and sold in the forex market, it is five major global currencies that account for the major portion of the trade that transpires.
Major Forex Trading Cities of the World
While there is are centralized locations specifically set aside for forex trading, there are areas of the globe that are universally recognized as major forex trading centers. New York, London, Paris, Hong Kong, Frankfurt and Singapore are all cities that have a heavy amount of forex trading taking place in them.
The Major Players
While anyone can take part in forex trading, it is large banking institutions and major multinational corporations that are the most heavily involved in it. Why is this so? The answer to that question is that they really have no choice. These entities have huge sums of capital and if it just left in a bank account, it will eventual depreciate in value over time.
Huge Profit Potential
By moving it around and exchanging it for different major currencies of the world, if it is done right they can stay ahead of the curve, so to speak, and see the value of their cash holdings, in fact, increase over time. In recent years however, more smaller investors have discovered forex trading and with margin accounts or leverages as high as 200 -1, its easy to see how someone can make a lot of profit if they understand how the game is played.
Automated Forex Trading - Does it Work
Automated Forex Trading - Does it Work
by Samuel Gibsten
Oh how nice life could be if one simply had a secret formula for making money while one slept. Its the universal dream shared by all and why not, because somewhere on this planet someone is growing richer as they snore through the night. For time eternal man has yearned to turn lead into gold. Now with the advent of forex trading it seems that it finally is possible. The fact is, that there are certain factors that determine the value of the major currencies of the world. What are these factors, and if they are predetermined by someone, can they be loaded into a fool proof automated forex trading system?
What are They ? - Do They Work ?
What are automated forex trading systems and do they actually work? Also, what are the variables that are loaded in to them to drive their engines? Can one create their own automated forex trading system, using their own data that they have gathered. Also, what about automated forex trading systems that one can find advertised on the Internet?
Bewildering to Comprehend
There are in fact, multiple conflicting answers to all of these questions and as father time slowing clicks by, forex trading and the variable that come to play in it only become more complex. Can climate change and all its innumerable implications be factored into an automated forex trading system?
One Commonality
Right now there are forex traders that are wagering millions on automated forex trading systems that have climate change data loaded into them. Are they making money? If they are, they aren't telling. However; the one commonality that you will find in all automated forex trading systems is that they eliminate human emotion which can only be a good thing in any financial transaction. Regardless of the business that one is in, history has proven that when it is done emotionally it always leads to losses.
by Samuel Gibsten
Oh how nice life could be if one simply had a secret formula for making money while one slept. Its the universal dream shared by all and why not, because somewhere on this planet someone is growing richer as they snore through the night. For time eternal man has yearned to turn lead into gold. Now with the advent of forex trading it seems that it finally is possible. The fact is, that there are certain factors that determine the value of the major currencies of the world. What are these factors, and if they are predetermined by someone, can they be loaded into a fool proof automated forex trading system?
What are They ? - Do They Work ?
What are automated forex trading systems and do they actually work? Also, what are the variables that are loaded in to them to drive their engines? Can one create their own automated forex trading system, using their own data that they have gathered. Also, what about automated forex trading systems that one can find advertised on the Internet?
Bewildering to Comprehend
There are in fact, multiple conflicting answers to all of these questions and as father time slowing clicks by, forex trading and the variable that come to play in it only become more complex. Can climate change and all its innumerable implications be factored into an automated forex trading system?
One Commonality
Right now there are forex traders that are wagering millions on automated forex trading systems that have climate change data loaded into them. Are they making money? If they are, they aren't telling. However; the one commonality that you will find in all automated forex trading systems is that they eliminate human emotion which can only be a good thing in any financial transaction. Regardless of the business that one is in, history has proven that when it is done emotionally it always leads to losses.
วันพุธที่ 23 กรกฎาคม พ.ศ. 2551
Forex Trading Forecasting - Mathematical Order in the Market and How to Profit From It
Forex Trading Forecasting - Mathematical Order in the Market and How to Profit From It
by kelly Price
There are many trading theories which believe in mathematical order in the market and you can predict the future. Human nature is constant and therefore if you know the law of market movement you can make money but what are the best scientific theories?
The three major ones are those based on Gann and Elliot wave and the Fibonacci number sequence.
They all claim to be scientific but to be a scientific theory, they must conform to the following:
- Be totally objective with a set of rules to follow
- Work all the time.
This is the definition of a scientific theory and none of the above are.
Gann and Elliot wave are totally subjective and while you get various levels you can buy or sell to with Fibonacci, they certainly don't work every time!
Markets are not scientific and while human nature is constant, it cannot be predicted with scientific accuracy and that's a fact.
This is why all the scientific theories and complex computers today have not increased the amount of winners. Indeed, if a scientific theory did work we would have no market, as everyone would know the price in advance.
How to Win Without Science
A great book which any speculator can learn from is the Zurich Axioms.
This book devised a set of rules which a group of Swiss bankers, who used them to get rich and it lays out a number of rules and principles for speculators to follow and one of them is on forecasts which is very true.
"Human behavior cannot be predicted. Distrust anyone who claims to know the future, however dimly". As the books points out if astrologers were always right they would all be rich and there not. Predicting markets is actually doomed to failure just like astrology and the book makes clear:
"Do not look for order where order does not exist." And the book goes on...
"The Historian's trap is a particular kind of orderly illusion. It is based on the age-old but entirely unwarranted belief that history repeats itself. People who hold this belief - which is to say perhaps ninety-nine out of every hundred people on earth - believe as a corollary proposition that the orderly repetition of history allows for accurate forecasting in certain situations.... Don't fall into this trap. It is true that history repeats itself sometimes, but most often it doesn't, and in any case it never does so in a reliable enough way that you can prudently bet money on it".
In hindsight you can prove anything and this is known as the chartist illusion
"Beware the chartist's illusion - it is characteristic of human minds to perceive links of cause and effect where none exist"
You can of course when you have all the facts at your disposal see things as orderly when there not.
Traders do this all the time - they test rules and parameters over a section of data and bend rules to fit it and think it will work in real life but of course the exact data sequence never repeats again and they lose.
Ever wonder why all those forex robots sold online, never make money in real life - despite having great track records?
The answer is the track record is a simulation backwards which appears logical- but when it's traded going forward, it collapses.
Why You Can Make Money
Despite the fact markets don't move to science you can still make money from them, if you see them as an odds game.
If you took a game of poker as an example of an odds game and talk to the best poker players, they know they are not going to win every hand - but they are confident of winning longer term. Why?
Because they know that if they bet on high odds hands and fold or pass by low odds hands, they will win longer term.
If you take trading forex who are some of the top traders in the world?
You guessed it - poker players!
So forget about predicting and science, see forex as an odds game and trade the reality of price change sure you wont win every trade but you will win more than you lose and this can mean huge profits.
Don't look for perfection look to make money.
by kelly Price
There are many trading theories which believe in mathematical order in the market and you can predict the future. Human nature is constant and therefore if you know the law of market movement you can make money but what are the best scientific theories?
The three major ones are those based on Gann and Elliot wave and the Fibonacci number sequence.
They all claim to be scientific but to be a scientific theory, they must conform to the following:
- Be totally objective with a set of rules to follow
- Work all the time.
This is the definition of a scientific theory and none of the above are.
Gann and Elliot wave are totally subjective and while you get various levels you can buy or sell to with Fibonacci, they certainly don't work every time!
Markets are not scientific and while human nature is constant, it cannot be predicted with scientific accuracy and that's a fact.
This is why all the scientific theories and complex computers today have not increased the amount of winners. Indeed, if a scientific theory did work we would have no market, as everyone would know the price in advance.
How to Win Without Science
A great book which any speculator can learn from is the Zurich Axioms.
This book devised a set of rules which a group of Swiss bankers, who used them to get rich and it lays out a number of rules and principles for speculators to follow and one of them is on forecasts which is very true.
"Human behavior cannot be predicted. Distrust anyone who claims to know the future, however dimly". As the books points out if astrologers were always right they would all be rich and there not. Predicting markets is actually doomed to failure just like astrology and the book makes clear:
"Do not look for order where order does not exist." And the book goes on...
"The Historian's trap is a particular kind of orderly illusion. It is based on the age-old but entirely unwarranted belief that history repeats itself. People who hold this belief - which is to say perhaps ninety-nine out of every hundred people on earth - believe as a corollary proposition that the orderly repetition of history allows for accurate forecasting in certain situations.... Don't fall into this trap. It is true that history repeats itself sometimes, but most often it doesn't, and in any case it never does so in a reliable enough way that you can prudently bet money on it".
In hindsight you can prove anything and this is known as the chartist illusion
"Beware the chartist's illusion - it is characteristic of human minds to perceive links of cause and effect where none exist"
You can of course when you have all the facts at your disposal see things as orderly when there not.
Traders do this all the time - they test rules and parameters over a section of data and bend rules to fit it and think it will work in real life but of course the exact data sequence never repeats again and they lose.
Ever wonder why all those forex robots sold online, never make money in real life - despite having great track records?
The answer is the track record is a simulation backwards which appears logical- but when it's traded going forward, it collapses.
Why You Can Make Money
Despite the fact markets don't move to science you can still make money from them, if you see them as an odds game.
If you took a game of poker as an example of an odds game and talk to the best poker players, they know they are not going to win every hand - but they are confident of winning longer term. Why?
Because they know that if they bet on high odds hands and fold or pass by low odds hands, they will win longer term.
If you take trading forex who are some of the top traders in the world?
You guessed it - poker players!
So forget about predicting and science, see forex as an odds game and trade the reality of price change sure you wont win every trade but you will win more than you lose and this can mean huge profits.
Don't look for perfection look to make money.
Forex Trading better than Stocks?
Forex Trading better than Stocks?
by Michael Summers
The Stock Market is the best known place to invest your money, but is it the best? The Forex market has become much more popular lately, and possibly for very good reason. In this article I will quickly cover a few reasons why the Forex might be advantageous over the stock market.
The first and biggest difference is leverage. Stocks are often not leveraged at all, and if they are it is usually 2 to 1 or less, but in the Forex markets 1000 to 1 leverage is not uncommon. That means with just $1000 you can control a $100,000 position. Now I must warn you that this works both ways and your trading must take into account this increased risk, but the potential for profit is massive.
Another difference is the sheer number of choices. Some might like having thousands upon thousands of stocks to choose from, but for others it can be ovewhelming. When trading the Forex, there are only a handful of major markets to choose from, meaning you can make your decisions based on the whole market, not just a sliver.
Another advantage may be decreased cost. Transaction fees can really add up, but with Forex trading, you average commisssion is about $15 dollars, as opposed to stocks where you can pay up to $100 for the same service.
Lastly let's address liquidity, lack of which can cause alot of problems. The Forex market is traded 24 hours a day and has a daily trading volume 50 times that of the New York Stock Exchange. No comparison.
So as you can see the Forex offers an unique alternative to the stock market, but it's not for eveyone. Just as different trading systems are best for different people, different markets are best for different personalities, and you should make your decisions accordingly.
by Michael Summers
The Stock Market is the best known place to invest your money, but is it the best? The Forex market has become much more popular lately, and possibly for very good reason. In this article I will quickly cover a few reasons why the Forex might be advantageous over the stock market.
The first and biggest difference is leverage. Stocks are often not leveraged at all, and if they are it is usually 2 to 1 or less, but in the Forex markets 1000 to 1 leverage is not uncommon. That means with just $1000 you can control a $100,000 position. Now I must warn you that this works both ways and your trading must take into account this increased risk, but the potential for profit is massive.
Another difference is the sheer number of choices. Some might like having thousands upon thousands of stocks to choose from, but for others it can be ovewhelming. When trading the Forex, there are only a handful of major markets to choose from, meaning you can make your decisions based on the whole market, not just a sliver.
Another advantage may be decreased cost. Transaction fees can really add up, but with Forex trading, you average commisssion is about $15 dollars, as opposed to stocks where you can pay up to $100 for the same service.
Lastly let's address liquidity, lack of which can cause alot of problems. The Forex market is traded 24 hours a day and has a daily trading volume 50 times that of the New York Stock Exchange. No comparison.
So as you can see the Forex offers an unique alternative to the stock market, but it's not for eveyone. Just as different trading systems are best for different people, different markets are best for different personalities, and you should make your decisions accordingly.
วันอังคารที่ 22 กรกฎาคม พ.ศ. 2551
Easy Tips To Increase Forex Trading Profit
Easy Tips To Increase Forex Trading Profit
by Elle Nash
I'm here to give some easy tips to help you increase your forex profit. The potential in forex for profit is very high, but for most people they end up losing or breaking even. There are some very good keys to success in this business.
1. Talk to other forex traders: Join a forum or a newsgroup. Talk to other forex traders in your community. Meet these people and talk about strategies. This isn't a business where it is cut throat and no one will help you. Everyone wants to learn more, so we can all profit together. Take the time everyday to talk to traders and you'll start to make friends that you trust.
2. Always try to learn: This is a key for long term success. Of course when you first start out, you're going to be trying to learn. The thing that many people fall into is learning something that makes them profit and they stop learning. You're not going to learn this "magic secret" strategy that works all the time for years. The market changes and you need to be able to identify and adapt. You need to continuously learn new things. Stop learning and you lose.
3. Start out doing this part time: I'm always amazed at people who quit their job or have lost their job that try to do this full time. You're just asking for trouble. There is a huge learning curve. Have a full time job and start out doing this as part time. If you try to jump into this all at once risking paying rent on forex, you're going to lose. There's just too much information to learn and absorb. It takes time. Start doing this as a part time job and when you start making pretty good money consistently compared to the time you put, than make the jump to full time.
4. Get automated software to help you deal with all the information. You will be facing huge amounts of data that you need to absorb and understand. This is very tough just for one person. Data doesn't stop coming in and if you're in bed at 4am, you can't buy or sell when the market changes. Get Automated Forex Cash software. It will help you out a lot. It processes all the data, all the time. You can set it up to automatically buy and sell at specific values. Very handy, especially since it'll be watching the markets, while you're still working your full time job.
These are some great tips that I have found handy in my own experience with forex. Definitely get the Automated Forex Cash software. You're just one person, you can't do it all yourself. This will make you profits and save you headaches from the stress of not knowing how your money is doing.
by Elle Nash
I'm here to give some easy tips to help you increase your forex profit. The potential in forex for profit is very high, but for most people they end up losing or breaking even. There are some very good keys to success in this business.
1. Talk to other forex traders: Join a forum or a newsgroup. Talk to other forex traders in your community. Meet these people and talk about strategies. This isn't a business where it is cut throat and no one will help you. Everyone wants to learn more, so we can all profit together. Take the time everyday to talk to traders and you'll start to make friends that you trust.
2. Always try to learn: This is a key for long term success. Of course when you first start out, you're going to be trying to learn. The thing that many people fall into is learning something that makes them profit and they stop learning. You're not going to learn this "magic secret" strategy that works all the time for years. The market changes and you need to be able to identify and adapt. You need to continuously learn new things. Stop learning and you lose.
3. Start out doing this part time: I'm always amazed at people who quit their job or have lost their job that try to do this full time. You're just asking for trouble. There is a huge learning curve. Have a full time job and start out doing this as part time. If you try to jump into this all at once risking paying rent on forex, you're going to lose. There's just too much information to learn and absorb. It takes time. Start doing this as a part time job and when you start making pretty good money consistently compared to the time you put, than make the jump to full time.
4. Get automated software to help you deal with all the information. You will be facing huge amounts of data that you need to absorb and understand. This is very tough just for one person. Data doesn't stop coming in and if you're in bed at 4am, you can't buy or sell when the market changes. Get Automated Forex Cash software. It will help you out a lot. It processes all the data, all the time. You can set it up to automatically buy and sell at specific values. Very handy, especially since it'll be watching the markets, while you're still working your full time job.
These are some great tips that I have found handy in my own experience with forex. Definitely get the Automated Forex Cash software. You're just one person, you can't do it all yourself. This will make you profits and save you headaches from the stress of not knowing how your money is doing.
Why Forex Traders Prefer Technical Analysis Why Forex Traders Prefer Technical Analysis
Why Forex Traders Prefer Technical Analysis
by Michael Roberts
Until relatively recently fundamental analysis, or looking at past political and economic events to help them predict price movements in the underlying currencies they traded, is how most traders arrived at trading decisions.
However, fundamental analysis requires a trader to absorb lots of diverse information from many sources and considerable knowledge to interpret it accurately. Couple this with basic disagreements as to what information is important and what weight to assign it and you can begin to see why this method took enormous resources and time. Two characteristics not commonly associated with the individual investor.
The end result was that for years currency trading was the exclusive playground of large banks or other institutions with the resources to accomplish this type of analysis
Now, the rise of computing power and the proliferation of electronic information sources have lead to a fundamental shift in the way most traders analyze the Forex market.
Today most traders employ another, more automated, form of analysis known as technical analysis. This involves the combined charting of real-time and historical price movement data of currencies. Today this is mostly accomplished using computers which have the ability to do the sometimes complex math quickly in near real-time.
Technical analysis really boils down to simply taking the over one hundred years worth of recorded historical price data available from the foreign currency market and running it through a computerized charting application to look for patterns and trends.
Once these patterns or trends are identified they must be quantified in there ability to predict price moves in a particular direction. Once done, a trader can then look at the manner in which a currency's price is currently moving and compare this to similar past patterns to predict the future direction of movement.
So, while technical analysis still requires skill, experience, and judgment the fact that it is more automated and less subjective than the research involved in fundamental analysis contributes to it's popularity. The debate over which method is better will probably never be resolved, but most traders feel that technical analysis is easier to learn and master.
There are three underlying principles one must be familiar with to fully understand technical analysis.
First, there are many factors, such as political or economic events, that will produce price movement in a particular currency pair. However, these factors, or reasons, are not what's important to technical analysis, but rather the price movement itself.
Second, technical analysis assumes that pricing moves follow a trend that can be discerned by tracking the patterns that emerge over time in the market.
Finally, the trends and patterns that emerge from historical charting and analysis of price will also be reflected in future price action movements. This is because, in the view of the technical analyst, the trading psychology of humans remains for the most part constant over time. So market participants will react in similar fashion to similar news in the future the same as they have in the past.
This "wisdom of crowds" or at least the predictability of crowds is dismissed by followers of the fundamental analysis approach. They hold to their belief that a deep understanding of the factors that affect pricing and not a reliance on patterns is the only way to produce reliable long term results.
In spite what the fans of fundamental analysis say the majority of traders today rely almost entirely on a some form of technical analysis for trading currency.
No system, whether based on fundamental and technical analysis, can accurately predict price movements every time but a good technical trader who takes the time to learn a sound methodology can do quite well.
by Michael Roberts
Until relatively recently fundamental analysis, or looking at past political and economic events to help them predict price movements in the underlying currencies they traded, is how most traders arrived at trading decisions.
However, fundamental analysis requires a trader to absorb lots of diverse information from many sources and considerable knowledge to interpret it accurately. Couple this with basic disagreements as to what information is important and what weight to assign it and you can begin to see why this method took enormous resources and time. Two characteristics not commonly associated with the individual investor.
The end result was that for years currency trading was the exclusive playground of large banks or other institutions with the resources to accomplish this type of analysis
Now, the rise of computing power and the proliferation of electronic information sources have lead to a fundamental shift in the way most traders analyze the Forex market.
Today most traders employ another, more automated, form of analysis known as technical analysis. This involves the combined charting of real-time and historical price movement data of currencies. Today this is mostly accomplished using computers which have the ability to do the sometimes complex math quickly in near real-time.
Technical analysis really boils down to simply taking the over one hundred years worth of recorded historical price data available from the foreign currency market and running it through a computerized charting application to look for patterns and trends.
Once these patterns or trends are identified they must be quantified in there ability to predict price moves in a particular direction. Once done, a trader can then look at the manner in which a currency's price is currently moving and compare this to similar past patterns to predict the future direction of movement.
So, while technical analysis still requires skill, experience, and judgment the fact that it is more automated and less subjective than the research involved in fundamental analysis contributes to it's popularity. The debate over which method is better will probably never be resolved, but most traders feel that technical analysis is easier to learn and master.
There are three underlying principles one must be familiar with to fully understand technical analysis.
First, there are many factors, such as political or economic events, that will produce price movement in a particular currency pair. However, these factors, or reasons, are not what's important to technical analysis, but rather the price movement itself.
Second, technical analysis assumes that pricing moves follow a trend that can be discerned by tracking the patterns that emerge over time in the market.
Finally, the trends and patterns that emerge from historical charting and analysis of price will also be reflected in future price action movements. This is because, in the view of the technical analyst, the trading psychology of humans remains for the most part constant over time. So market participants will react in similar fashion to similar news in the future the same as they have in the past.
This "wisdom of crowds" or at least the predictability of crowds is dismissed by followers of the fundamental analysis approach. They hold to their belief that a deep understanding of the factors that affect pricing and not a reliance on patterns is the only way to produce reliable long term results.
In spite what the fans of fundamental analysis say the majority of traders today rely almost entirely on a some form of technical analysis for trading currency.
No system, whether based on fundamental and technical analysis, can accurately predict price movements every time but a good technical trader who takes the time to learn a sound methodology can do quite well.
Secret Forex Code Review
Secret Forex Code Review
by mandy
Secret Forex Code is another forex automated system. But it has a unique, revolutionary and proven method that make it different from the many forex that has been out in the market.
If, you are still having difficulty making money from forex despite the many forex rading method that you applied and tested maybe this is the right time to change your life and try the Secret Forex Code!
Secret Forex Code allow everyone to make money without having to do a lot of things. Wihout having to investa lot of money. You can still make money even if you are just new to forex trading. No trading experience required that is why even if you are just a beginner who wish to start your first trading you can ensure of big profits.
Secret Forex Code give you 2 100% mechanical method, set and forget system that has been used by many forex trader expert to rake huge income from forex market. This secret has been hidden for so long and most expert doesn't want the public to know about. But one person decided to make a change and share it for everyone to create their own weath online.
I know that there are lots of opportunity like this, you already tried a lot of automated system but you are just fed up with them, but don't ever lose hope. Secret Forex Code is the only automated system that really works.It has been the main reason why many forex trader become succesful on their trading years.
Secret Forex Code works in any country.It works in any meta trader platform. You can easily set up the system. You don't need long hours monitoring your trade. It requires 10 minutes of your time each day. This automated forex trading system removes all the hassles that has been blocking your forex trading success. It removes any worries and risk by removing the possibility of trading using your emotions.
Now, Secret Forex Code is an opportunity that comes once in a lifetime. Do you have the courage to change your life right from this moment? If you decide to try Secret Forex Code you can just Click Here!
by mandy
Secret Forex Code is another forex automated system. But it has a unique, revolutionary and proven method that make it different from the many forex that has been out in the market.
If, you are still having difficulty making money from forex despite the many forex rading method that you applied and tested maybe this is the right time to change your life and try the Secret Forex Code!
Secret Forex Code allow everyone to make money without having to do a lot of things. Wihout having to investa lot of money. You can still make money even if you are just new to forex trading. No trading experience required that is why even if you are just a beginner who wish to start your first trading you can ensure of big profits.
Secret Forex Code give you 2 100% mechanical method, set and forget system that has been used by many forex trader expert to rake huge income from forex market. This secret has been hidden for so long and most expert doesn't want the public to know about. But one person decided to make a change and share it for everyone to create their own weath online.
I know that there are lots of opportunity like this, you already tried a lot of automated system but you are just fed up with them, but don't ever lose hope. Secret Forex Code is the only automated system that really works.It has been the main reason why many forex trader become succesful on their trading years.
Secret Forex Code works in any country.It works in any meta trader platform. You can easily set up the system. You don't need long hours monitoring your trade. It requires 10 minutes of your time each day. This automated forex trading system removes all the hassles that has been blocking your forex trading success. It removes any worries and risk by removing the possibility of trading using your emotions.
Now, Secret Forex Code is an opportunity that comes once in a lifetime. Do you have the courage to change your life right from this moment? If you decide to try Secret Forex Code you can just Click Here!
Konsep Trading Forex
Konsep Trading Forex
by Benny Murdiono
Konsep-Konsep Forex Trading Dari berbagai macam literature dan pengalaman yang telah saya peroleh, hampir 90% trader forex mengalami kegagalan. Hanya 10% yang berhasil meningkatkan uang mereka. Kegagalan disini diartikan bangkrut, uang tidak bertambah, dan rugi.
Lalu apa penyebabnya?? Berikut hasil pikiran saya:
1. Forex Trading Bukan Matematika Orang menganggap forex sebagai salah satu ilmu yang matematis, artinya apabila X ditambah Y maka akan menjadi Z. Forex tidak seperti itu. Didunia ini tidak ada satu orang / lembaga yang mampu memprediksi pergerakan harga tepat 100%.
2. Tekanan Emosi Berbisnis forex membutuhkan modal yang tidak sedikit, meskipun ada broker yang memberikan kemudahan trading hanya dengan $1. Biasanya untuk memulai bisnis forex, modal minimum yang dibutuhkan adalah $100 (pengalaman saya dengan modal $100, return perbulannya adalah $40). Jadi terdapat tekanan emosi seperti takut kalah, rasa tamak, tidak puas, dan penasaran yang menyelimuti trader (ini berbeda jika anda bermain dalam virtual account).
Jadi apabila anda sudah terjun ke forex trading atau akan terjun, sebaiknya pahami konsep tersebut. Jangan pernah merasa bisa tetapi gunakan suatu sistem trading yang tetap dan menguntungkan. Karena dengan menggunakan sistem trading, anda tidak akan terpengaruh akan tekanan emosi. Dan biarkan sistem bekerja!
by Benny Murdiono
Konsep-Konsep Forex Trading Dari berbagai macam literature dan pengalaman yang telah saya peroleh, hampir 90% trader forex mengalami kegagalan. Hanya 10% yang berhasil meningkatkan uang mereka. Kegagalan disini diartikan bangkrut, uang tidak bertambah, dan rugi.
Lalu apa penyebabnya?? Berikut hasil pikiran saya:
1. Forex Trading Bukan Matematika Orang menganggap forex sebagai salah satu ilmu yang matematis, artinya apabila X ditambah Y maka akan menjadi Z. Forex tidak seperti itu. Didunia ini tidak ada satu orang / lembaga yang mampu memprediksi pergerakan harga tepat 100%.
2. Tekanan Emosi Berbisnis forex membutuhkan modal yang tidak sedikit, meskipun ada broker yang memberikan kemudahan trading hanya dengan $1. Biasanya untuk memulai bisnis forex, modal minimum yang dibutuhkan adalah $100 (pengalaman saya dengan modal $100, return perbulannya adalah $40). Jadi terdapat tekanan emosi seperti takut kalah, rasa tamak, tidak puas, dan penasaran yang menyelimuti trader (ini berbeda jika anda bermain dalam virtual account).
Jadi apabila anda sudah terjun ke forex trading atau akan terjun, sebaiknya pahami konsep tersebut. Jangan pernah merasa bisa tetapi gunakan suatu sistem trading yang tetap dan menguntungkan. Karena dengan menggunakan sistem trading, anda tidak akan terpengaruh akan tekanan emosi. Dan biarkan sistem bekerja!
วันอาทิตย์ที่ 20 กรกฎาคม พ.ศ. 2551
How Safe Is Forex Trading?
How Safe Is Forex Trading?
by Leon
Forex Trading is all about putting your money into other currencies, so you can gain the interest for the night, for time period or the difference in trading money all around. Forex trading does involve other assets along with money, but because you are investing in other countries and in other businesses that are dealing in other currencies the basis for the money you make or lose will be based on the trading of money.
Constant trading is done in the forex markets as time zones will vary and the markets will open in one country while another is near closing. What happens in one market will have an effect on the other countries forex markets, but it is not always bad or good, sometimes the margins of trading are near each other.
A forex market will be present when two countries are involved in trading, and when money is traded for goods, services or a combination of these things. Currency is the money that trades hands, from one to another. Often times, a bank is going to be the source of forex trading, as millions of dollars are traded daily. There is nearly two trillion dollars traded daily on the forex market. Should you get involved in forex trading? If you are already involved in the stock market, you have some idea of what forex trading really is all about.
The stock market involves buying shares of a company, and you watch how that company does, waiting for a bigger return. In the forex markets, you are purchasing items or products, or goods, and you are paying money for them. As you do this, you are gaining or losing as the currency exchange differs daily from country to country. To better prepare you for the forex markets you can learn about trading and purchasing online using free 'game' like software.
You will log on and create an account. Entering information about what you are interested in and what you want to do. The 'game' will allow you to make purchases and trades, involving different currencies, so you can then see first hand what a gain or loss will be like. As you continue on with this fake account you will see first hand how to make decisions based on what you know, which means you will have to read about the market changes or you will have to take a brokers information at value and play from there.
If you, as an individual want to be involved in forex trading, you must get involved through broker, or a financial institution. Individuals are also known as spectators, even if you are investing money because the amount of money you are investing is minimal compared to the millions of dollars that are invested by governments and by banks at any given time. This does not mean you can't get involved. Your broker or investment advisor will be able to tell you more about how you can be involved in forex trading. In the US, there are many regulations and laws in regards to who can handle forex trading for US citizens so if you are searching the internet for a broker, be sure you read the print, and the information about where the company is located and if it is legal for you to do business with that company.
by Leon
Forex Trading is all about putting your money into other currencies, so you can gain the interest for the night, for time period or the difference in trading money all around. Forex trading does involve other assets along with money, but because you are investing in other countries and in other businesses that are dealing in other currencies the basis for the money you make or lose will be based on the trading of money.
Constant trading is done in the forex markets as time zones will vary and the markets will open in one country while another is near closing. What happens in one market will have an effect on the other countries forex markets, but it is not always bad or good, sometimes the margins of trading are near each other.
A forex market will be present when two countries are involved in trading, and when money is traded for goods, services or a combination of these things. Currency is the money that trades hands, from one to another. Often times, a bank is going to be the source of forex trading, as millions of dollars are traded daily. There is nearly two trillion dollars traded daily on the forex market. Should you get involved in forex trading? If you are already involved in the stock market, you have some idea of what forex trading really is all about.
The stock market involves buying shares of a company, and you watch how that company does, waiting for a bigger return. In the forex markets, you are purchasing items or products, or goods, and you are paying money for them. As you do this, you are gaining or losing as the currency exchange differs daily from country to country. To better prepare you for the forex markets you can learn about trading and purchasing online using free 'game' like software.
You will log on and create an account. Entering information about what you are interested in and what you want to do. The 'game' will allow you to make purchases and trades, involving different currencies, so you can then see first hand what a gain or loss will be like. As you continue on with this fake account you will see first hand how to make decisions based on what you know, which means you will have to read about the market changes or you will have to take a brokers information at value and play from there.
If you, as an individual want to be involved in forex trading, you must get involved through broker, or a financial institution. Individuals are also known as spectators, even if you are investing money because the amount of money you are investing is minimal compared to the millions of dollars that are invested by governments and by banks at any given time. This does not mean you can't get involved. Your broker or investment advisor will be able to tell you more about how you can be involved in forex trading. In the US, there are many regulations and laws in regards to who can handle forex trading for US citizens so if you are searching the internet for a broker, be sure you read the print, and the information about where the company is located and if it is legal for you to do business with that company.
Forex Money Management - the Zurich Axioms and How to Use them for Triple Digit Gains
Forex Money Management - the Zurich Axioms and How to Use them for Triple Digit Gains
by kelly Price
If you want to get rich, no matter how inexperienced you are in investment, then one of the best places to start is with the book the Zurich Axioms and here we will look at some that you can apply to forex trading to supercharge your gains...
In this article we are just going to focus on the risk element of the Zurich Axioms and how it relates to forex trading although the book gives you loss more great investment advice and is one of the greatest books on speculation ever written.
Love Risk!
The 12 major and 16 minor Zurich Axioms contained in the book are a set of principles providing you with realistic management of risk, which can be followed successfully by anyone, not merely 'experts'. When dealing with risk, you have to see it as opportunity manage it and love it, as its your route to trading success
The book teaches you to take risks and meaningful ones at the right time which is what you have to do to make money in forex. You have to manage risk and the Axioms, will show you how.
Several of the Axioms do not conform to traditional wisdom but don't let that worry you, most forex traders lose, yet the Swiss speculators who devised them became rich and the proof as they say is in the results.
Let's look at the major Axiom on risk and how its view is very different to what most so called experts teach.
Axiom 1: On Risk
"Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough. Put your money at risk. Don't be afraid to get hurt a little... Worry is the hot and tart sauce of life. Once you get used to it, you enjoy it".
Most people are so afraid of risk they actually create it in forex trading. They end up having stops so close their bound to get stopped out or think they can make a regular income etc and then they get the reality check.
Related to the above Major Axiom are two minor ones which most forex traders would be wise to learn Minor Axiom I
"Always play for meaningful stakes".
How many times do you hear experts tell you to risk 2% of your equity? All the time but for a forex trader with a small account the reward isn't going to be much say you have $1,000 and risk 2% that's $20 bucks!
If your stop is that close. Then you are going to lose quickly.
My own view has always been look to risk 10 - 20% of your equity. If the opportunity looks good hit it hard and go for a meaningful gain. This isn't being rash it's how to win and if you don't like doing this then forex may not be for you.
Minor Axiom II
"Resist the allure of diversification"
Diversification is another word for diluting your gains and if you diversify on a small account you will end of getting no where. Why on earth, would you want to simply diversify when you have a great high odds trade?
All you will do will see your great trade diluted by one that's probably an also ran. Forget diversifying and hit the high odds trades with all you have and concentrate your effort on that trade. You don't need to trade often be patient and wait for the high odds trades.
Sure most experts don't agree with the above and it's not conventional wisdom but how many traders are so frightened of risk they never take enough risk and get stopped out by volatility, or listen by so called experts, who tell them forex trading isn't risky, when of course it is by its very nature.
The truth is forex trading is risky and if you learn to love risk, play for meaningful stakes and hit the high odds trades hard, you can win and make triple digit profits.
by kelly Price
If you want to get rich, no matter how inexperienced you are in investment, then one of the best places to start is with the book the Zurich Axioms and here we will look at some that you can apply to forex trading to supercharge your gains...
In this article we are just going to focus on the risk element of the Zurich Axioms and how it relates to forex trading although the book gives you loss more great investment advice and is one of the greatest books on speculation ever written.
Love Risk!
The 12 major and 16 minor Zurich Axioms contained in the book are a set of principles providing you with realistic management of risk, which can be followed successfully by anyone, not merely 'experts'. When dealing with risk, you have to see it as opportunity manage it and love it, as its your route to trading success
The book teaches you to take risks and meaningful ones at the right time which is what you have to do to make money in forex. You have to manage risk and the Axioms, will show you how.
Several of the Axioms do not conform to traditional wisdom but don't let that worry you, most forex traders lose, yet the Swiss speculators who devised them became rich and the proof as they say is in the results.
Let's look at the major Axiom on risk and how its view is very different to what most so called experts teach.
Axiom 1: On Risk
"Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough. Put your money at risk. Don't be afraid to get hurt a little... Worry is the hot and tart sauce of life. Once you get used to it, you enjoy it".
Most people are so afraid of risk they actually create it in forex trading. They end up having stops so close their bound to get stopped out or think they can make a regular income etc and then they get the reality check.
Related to the above Major Axiom are two minor ones which most forex traders would be wise to learn Minor Axiom I
"Always play for meaningful stakes".
How many times do you hear experts tell you to risk 2% of your equity? All the time but for a forex trader with a small account the reward isn't going to be much say you have $1,000 and risk 2% that's $20 bucks!
If your stop is that close. Then you are going to lose quickly.
My own view has always been look to risk 10 - 20% of your equity. If the opportunity looks good hit it hard and go for a meaningful gain. This isn't being rash it's how to win and if you don't like doing this then forex may not be for you.
Minor Axiom II
"Resist the allure of diversification"
Diversification is another word for diluting your gains and if you diversify on a small account you will end of getting no where. Why on earth, would you want to simply diversify when you have a great high odds trade?
All you will do will see your great trade diluted by one that's probably an also ran. Forget diversifying and hit the high odds trades with all you have and concentrate your effort on that trade. You don't need to trade often be patient and wait for the high odds trades.
Sure most experts don't agree with the above and it's not conventional wisdom but how many traders are so frightened of risk they never take enough risk and get stopped out by volatility, or listen by so called experts, who tell them forex trading isn't risky, when of course it is by its very nature.
The truth is forex trading is risky and if you learn to love risk, play for meaningful stakes and hit the high odds trades hard, you can win and make triple digit profits.
วันเสาร์ที่ 19 กรกฎาคม พ.ศ. 2551
Profitable Forex Trading Strategie Profitable Forex Trading Strategie
Profitable Forex Trading Strategie
by Andrew Daigle
As you know, the only way to make money in the forex currency exchange market is to have profitable forex trading strategies and good money management. Without these two skills, you will certainly fail as a trader and if you master these, you will be a very profitable forex trader.
It sounds so easy, doesn't it? Two simple rules to follow and you will be profitable in this business. The problem with this however, is that most people can't follow these rules. They let their emotions get in the way of their trading and make bad decisions. They may not take any trades at all because they're afraid they'll lose money. They may be in a profitable trade and decide to close it early to lock in their small profits. They may decide to let their losers run longer than they should because they "know" the currency is about to reverse and go in their direction. There are many reasons why people fail in this business and these are just a few of the examples.
Before you start trading, you need to learn about this business. You not only need to learn how and when to trade forex, but you also need to know when "not to trade". This is just as important. You also need to know how much "risk" you should take on any given trade. If you over leverage your account, you will lose money very quickly and you could actually blow your entire trading account.
Once you learn how to trade, the next step would be to open a forex demo trading account. This is the trading platform you would use from the forex broker of your choice to make trades in the market. Most forex brokers have all the charts and tools you need and the platform on which to execute your trades. Demo accounts allow new forex traders to trade fake money while trading the live market. You get to trade on a live trading platform but you risk absolutely no money. There aren't any businesses I know of where you can learn everything you need without costing you a dime.
Demo accounts are a great way for new traders to get a feel for trading the forex market without risking any money. But be careful. When you trade a forex demo account, and you know in your mind that you have no money at risk, you can start making stupid trading decisions. You may use poor money management skills and risk far too much money on each trade. You may double up on trades to make up for losing trades. These are bad habits, and the last thing you want to do in this business is treat it like a game. It's not a game. It's a real business and should be treated as such.
Before getting into trades, you should also know exactly what price you're getting in to the market and also know what your stop loss and take profit targets should be. If you don't know these three things, do not trade. Every profitable forex trading strategy you learn will have the rules for determining these entry and exit points. Also know that a profitable forex trading strategy does not have to be complicated. Most of the best forex trading strategies are very simple to learn and use.
If you follow the simple rules we mentioned above, you will see how profitable this business can be. It's no wonder why trading forex is becoming one of the fastest growing home businesses today. You get to work from your home using your personal computer and an internet connection. Pick up a great forex trading strategy and open up a forex trading account with a broker and you have everything you need to start trading.
by Andrew Daigle
As you know, the only way to make money in the forex currency exchange market is to have profitable forex trading strategies and good money management. Without these two skills, you will certainly fail as a trader and if you master these, you will be a very profitable forex trader.
It sounds so easy, doesn't it? Two simple rules to follow and you will be profitable in this business. The problem with this however, is that most people can't follow these rules. They let their emotions get in the way of their trading and make bad decisions. They may not take any trades at all because they're afraid they'll lose money. They may be in a profitable trade and decide to close it early to lock in their small profits. They may decide to let their losers run longer than they should because they "know" the currency is about to reverse and go in their direction. There are many reasons why people fail in this business and these are just a few of the examples.
Before you start trading, you need to learn about this business. You not only need to learn how and when to trade forex, but you also need to know when "not to trade". This is just as important. You also need to know how much "risk" you should take on any given trade. If you over leverage your account, you will lose money very quickly and you could actually blow your entire trading account.
Once you learn how to trade, the next step would be to open a forex demo trading account. This is the trading platform you would use from the forex broker of your choice to make trades in the market. Most forex brokers have all the charts and tools you need and the platform on which to execute your trades. Demo accounts allow new forex traders to trade fake money while trading the live market. You get to trade on a live trading platform but you risk absolutely no money. There aren't any businesses I know of where you can learn everything you need without costing you a dime.
Demo accounts are a great way for new traders to get a feel for trading the forex market without risking any money. But be careful. When you trade a forex demo account, and you know in your mind that you have no money at risk, you can start making stupid trading decisions. You may use poor money management skills and risk far too much money on each trade. You may double up on trades to make up for losing trades. These are bad habits, and the last thing you want to do in this business is treat it like a game. It's not a game. It's a real business and should be treated as such.
Before getting into trades, you should also know exactly what price you're getting in to the market and also know what your stop loss and take profit targets should be. If you don't know these three things, do not trade. Every profitable forex trading strategy you learn will have the rules for determining these entry and exit points. Also know that a profitable forex trading strategy does not have to be complicated. Most of the best forex trading strategies are very simple to learn and use.
If you follow the simple rules we mentioned above, you will see how profitable this business can be. It's no wonder why trading forex is becoming one of the fastest growing home businesses today. You get to work from your home using your personal computer and an internet connection. Pick up a great forex trading strategy and open up a forex trading account with a broker and you have everything you need to start trading.
In Search Of The Right Forex Broker
In Search Of The Right Forex Broker
by F. Aldo
This article very likely will attract forex beginners more than the experienced forex traders. Why you ask? The answer is quite simple--beginners search for forex brokers differently from the veterans.
Beginners usually base their search on these criteria:
* avaiability of demo accounts;
* availability of mini accounts;
* low PIP spreads;
* difference in leverage levels.
Experienced investors, on the other hand, are always looking for stability. There is nothing more frustrating than having to switch brokers over and over. And with stability comes other important elements such as the brokerage's reputation, the country where it is based and that country's forex regulations and perhaps other features like the types of trading platforms, charts, etc.
Regardless of trading skill level, the search for the right forex broker has never been easier. Advertisements for forex brokers abound on the internet these days and that takes care of about half of the search process.
The rest of the search can be considered the nitty-gritty part of the process. This is where you consider the forex broker based on your criteria. And if you are just starting out in forex trading, what should your criteria be?
The answer is again quite simple--look at the beginners' criteria mentioned above. And to help make your decision a sound one, add in the criteria that experienced traders base their searches on (also mentioned above).
However, a rule of thumb for beginners should always be to look for a broker that offers demo accounts. Needless to say, beginners should take full advantage of demo accounts. Most brokers will allow you to open a demo account with them for free and with no obligations.
Demo accounts are the only way to get a good feel of forex trading. There are also brokers that provide free charts. Free charts are a very nice complement to the demo account. Combining these two services helps the beginner form a good foundation for their forex trading habits that will continue evolve as they gain more and more experience down the road.
It is important for beginners to realize there is no one person or one bank that controls all the trades that occur in the forex market. With so many currencies being traded, transactions could originate from anywhere in the world. Therefore having an experienced and trustworthy broker guiding you through the process should help you prevent taking the wrong steps along the way. There is nothing more educational than having someone explain to you the reason behind each action.
Searching for a forex broker is definitely in your best interest if you are just starting out. Finding the right one is to your sole advantage and could easily be the difference between trading profitably and losing all your money.
Getting involved in the forex market is easy. Getting the right advise could prove trickier. If you have performed due diligence in your search for the right forex broker, you will feel much more confident about the long term success of your forex trading activities.
by F. Aldo
This article very likely will attract forex beginners more than the experienced forex traders. Why you ask? The answer is quite simple--beginners search for forex brokers differently from the veterans.
Beginners usually base their search on these criteria:
* avaiability of demo accounts;
* availability of mini accounts;
* low PIP spreads;
* difference in leverage levels.
Experienced investors, on the other hand, are always looking for stability. There is nothing more frustrating than having to switch brokers over and over. And with stability comes other important elements such as the brokerage's reputation, the country where it is based and that country's forex regulations and perhaps other features like the types of trading platforms, charts, etc.
Regardless of trading skill level, the search for the right forex broker has never been easier. Advertisements for forex brokers abound on the internet these days and that takes care of about half of the search process.
The rest of the search can be considered the nitty-gritty part of the process. This is where you consider the forex broker based on your criteria. And if you are just starting out in forex trading, what should your criteria be?
The answer is again quite simple--look at the beginners' criteria mentioned above. And to help make your decision a sound one, add in the criteria that experienced traders base their searches on (also mentioned above).
However, a rule of thumb for beginners should always be to look for a broker that offers demo accounts. Needless to say, beginners should take full advantage of demo accounts. Most brokers will allow you to open a demo account with them for free and with no obligations.
Demo accounts are the only way to get a good feel of forex trading. There are also brokers that provide free charts. Free charts are a very nice complement to the demo account. Combining these two services helps the beginner form a good foundation for their forex trading habits that will continue evolve as they gain more and more experience down the road.
It is important for beginners to realize there is no one person or one bank that controls all the trades that occur in the forex market. With so many currencies being traded, transactions could originate from anywhere in the world. Therefore having an experienced and trustworthy broker guiding you through the process should help you prevent taking the wrong steps along the way. There is nothing more educational than having someone explain to you the reason behind each action.
Searching for a forex broker is definitely in your best interest if you are just starting out. Finding the right one is to your sole advantage and could easily be the difference between trading profitably and losing all your money.
Getting involved in the forex market is easy. Getting the right advise could prove trickier. If you have performed due diligence in your search for the right forex broker, you will feel much more confident about the long term success of your forex trading activities.
Forex Tracer - Making Money Has Never Been Easier
Forex Tracer - Making Money Has Never Been Easier
by Jakob Eskena
Forex Tracer: So you are serious about making lots of money?
Forex Tracer is specialized software that enables beginner traders to become successful in the Forex industry even if they don't have any prior experience or expertise.
Indeed with Forex Tracer, experiencing success is no longer the feast of seasoned Forex expert traders. No longer do you have to be a de facto financial "guru" fresh out of an Ivy League school to make it big in the Foreign Exchange. Forex Tracer is an automated virtual assistant that works 24 hours day for you gathering and analyzing information throughout the Forex network.
Inverted by Forex Experts it is a fully automated Forex assistant, giving any potential trader the advantage of knowledge and experienced gathers by its creator over the course of their Forex trading lives.
You can use right know to experience the thrills and punch of its awesome power as you watch it go through the maze of the Forex network amassing and dissecting information before making money making recommendations.
Human errors or lack of knowledge are no longer an issue with this wonderful piece of engineering which in fact is much more than just that.
Forex traders, experienced and beginners use around the world to their advantage and if the Forex industry is one which you would like to get involved in, Forex Tracer is software you cannot go without.
Working you your behalf 24 hours a day it give you access to the biggest financial market in the world with trillions of dollars changing hands each day. And now you can claim of slice of that market, risk free, from the comfort of your own home.
And don't even think that the software price is proportional to its ability to make you big money fast. In fact it is incredibly affordable and you can even try it at your leisure for 56 days at the end of which you can ask for a full refund. Based on the number of traders who have purchased it from us, we are confident you too will decide to keep it beyond that period.
In addition, the Forex market is such that in enables anyone to start trading with a low capital layout of just $500. And if you think that this is not enough to make any real money, think again. With the power of leverage, at 200 for 1, $500 is all it takes to trade amounts of $100.000. Do you know of any other industry where irrespective of your experience, you will be allowed to work with money you don't have and keep all the profits for yourself?
Of course, you will be tempted to start your trading career straight away and experience the joys of making money that way as many people do but you can also take advantage of taking the software for a run in a "virtual" account where you are not investing any money other than a virtual sum and where of course you cannot claim any of the profits you are likely to be making. Once you are familiar with the software you will of course switch to the real world and invest the first $500 which will be the beginning of your next financial empire.
by Jakob Eskena
Forex Tracer: So you are serious about making lots of money?
Forex Tracer is specialized software that enables beginner traders to become successful in the Forex industry even if they don't have any prior experience or expertise.
Indeed with Forex Tracer, experiencing success is no longer the feast of seasoned Forex expert traders. No longer do you have to be a de facto financial "guru" fresh out of an Ivy League school to make it big in the Foreign Exchange. Forex Tracer is an automated virtual assistant that works 24 hours day for you gathering and analyzing information throughout the Forex network.
Inverted by Forex Experts it is a fully automated Forex assistant, giving any potential trader the advantage of knowledge and experienced gathers by its creator over the course of their Forex trading lives.
You can use right know to experience the thrills and punch of its awesome power as you watch it go through the maze of the Forex network amassing and dissecting information before making money making recommendations.
Human errors or lack of knowledge are no longer an issue with this wonderful piece of engineering which in fact is much more than just that.
Forex traders, experienced and beginners use around the world to their advantage and if the Forex industry is one which you would like to get involved in, Forex Tracer is software you cannot go without.
Working you your behalf 24 hours a day it give you access to the biggest financial market in the world with trillions of dollars changing hands each day. And now you can claim of slice of that market, risk free, from the comfort of your own home.
And don't even think that the software price is proportional to its ability to make you big money fast. In fact it is incredibly affordable and you can even try it at your leisure for 56 days at the end of which you can ask for a full refund. Based on the number of traders who have purchased it from us, we are confident you too will decide to keep it beyond that period.
In addition, the Forex market is such that in enables anyone to start trading with a low capital layout of just $500. And if you think that this is not enough to make any real money, think again. With the power of leverage, at 200 for 1, $500 is all it takes to trade amounts of $100.000. Do you know of any other industry where irrespective of your experience, you will be allowed to work with money you don't have and keep all the profits for yourself?
Of course, you will be tempted to start your trading career straight away and experience the joys of making money that way as many people do but you can also take advantage of taking the software for a run in a "virtual" account where you are not investing any money other than a virtual sum and where of course you cannot claim any of the profits you are likely to be making. Once you are familiar with the software you will of course switch to the real world and invest the first $500 which will be the beginning of your next financial empire.
Forex Tracer Review
Forex Tracer Review
by Griffin Hoyt
Forex Tracer is the latest Forex trading system online and it's selling like hotcakes. Much like the previous trading systems Forex Tracer requires no previous experience and has been designed to be on autopilot and make you money. All that is required is a reliable Internet connection and the ability to leave your computer of choice on 24/7. Write that down.
While I couldn't find much information on the fine folks that created Forex Tracer, I did find out that they are expert advisors that worked with mathematicians to develop complex algorithms. Oh and that this program is safe and legal. That's what daddy likes to hear.
So if you're lazy like me and would much rather pay someone to do something for you or find something to do it automatically this is the type of system you should be looking into. It automatically buys and sells for you, it's a beautiful thing. I'm not into learning the Forex system, why would I waste my time learning when I can launch a program to do it all for me? That's just not an efficient use of time.
Forex Tracer was tested over an extended period of time and in all kinds of market conditions and in the end had made $25,000-$335,000. The average winning-trades in a row have been 19 and the maximum being 53 which is total insanity (as you may or may not know).
One thing I'm loving about this fancy Forex Tracer is you can start with a "demo account" so you can play the ol' market with "play money" and see how much you could/would profit before even investing a dime. How genius is that? This simple fact combined with the 60 day money-back guarantee makes it totally risk fee.
Before purchasing it this is what I said to myself: "Ignore their sales page/pitch for a second and look at their proposal logically. They're offering a trading system for $97 which may or may not make me $1000's. I can test the market before investing any money. There's a 60 day money-back guarantee. Worst case scenario I'll see no potential profit while using the "demo account" within 59 days and I get my money back. Best case scenario I make $1000's of dollars doing little to no work." Where's the risk? I know right, everything is much clearer when you think logically.
I've been tinkering with the "demo account" and I've seen great results. I'm going to be using my actual money this week, I'm excited. Are you excited? You should be excited. Regardless of your financial goal Forex Tracer can help you get there... whether it's getting out of debt or investing in your favorite donut shop.
My goal is to quit my day job and spend the rest of my life sipping margaritas on the beach, join me won't you?
by Griffin Hoyt
Forex Tracer is the latest Forex trading system online and it's selling like hotcakes. Much like the previous trading systems Forex Tracer requires no previous experience and has been designed to be on autopilot and make you money. All that is required is a reliable Internet connection and the ability to leave your computer of choice on 24/7. Write that down.
While I couldn't find much information on the fine folks that created Forex Tracer, I did find out that they are expert advisors that worked with mathematicians to develop complex algorithms. Oh and that this program is safe and legal. That's what daddy likes to hear.
So if you're lazy like me and would much rather pay someone to do something for you or find something to do it automatically this is the type of system you should be looking into. It automatically buys and sells for you, it's a beautiful thing. I'm not into learning the Forex system, why would I waste my time learning when I can launch a program to do it all for me? That's just not an efficient use of time.
Forex Tracer was tested over an extended period of time and in all kinds of market conditions and in the end had made $25,000-$335,000. The average winning-trades in a row have been 19 and the maximum being 53 which is total insanity (as you may or may not know).
One thing I'm loving about this fancy Forex Tracer is you can start with a "demo account" so you can play the ol' market with "play money" and see how much you could/would profit before even investing a dime. How genius is that? This simple fact combined with the 60 day money-back guarantee makes it totally risk fee.
Before purchasing it this is what I said to myself: "Ignore their sales page/pitch for a second and look at their proposal logically. They're offering a trading system for $97 which may or may not make me $1000's. I can test the market before investing any money. There's a 60 day money-back guarantee. Worst case scenario I'll see no potential profit while using the "demo account" within 59 days and I get my money back. Best case scenario I make $1000's of dollars doing little to no work." Where's the risk? I know right, everything is much clearer when you think logically.
I've been tinkering with the "demo account" and I've seen great results. I'm going to be using my actual money this week, I'm excited. Are you excited? You should be excited. Regardless of your financial goal Forex Tracer can help you get there... whether it's getting out of debt or investing in your favorite donut shop.
My goal is to quit my day job and spend the rest of my life sipping margaritas on the beach, join me won't you?
วันศุกร์ที่ 18 กรกฎาคม พ.ศ. 2551
Forex Automoney - Do Forex Automoney for Real or just a hyped?
Forex Automoney - Do Forex Automoney for Real or just a hyped?
by mandy
Forex Trading is the easiest way to start making a passive income at the comfort of your own home. Forex trading is the largest market in the world and has the largest possibility of earning huge income in this path. Trading the forex was not that easy but with the boom of technology many forex trader found secret tools that will help them dig and create online wealth without going through the pain of losing and gambling. Forex isn't located in any particular city or town. As a matter of fact it isn't located anywhere, it is entirely electronic. All you need to start investing money on Forex is ONE dollar and access to the Internet. These easy to fulfill requirements are the reason why millions of people invest their money on Forex every day. There's no need for any specialized knowledge or skills to become a Forex trader. The crucial thing is to know which button to press. So far this all seems more like lottery than a method for a steady income. That's it. Many people feel that investing in Forex is more like gambling, and they don't treat it seriously. Actually the majority acts this way. Why? Because in order to make sensible investing decisions you have to know what you are doing. You need time and skills to figure out which button to press. Most people don't have time and skills to achieve this, and therefore they lose money.
Why do many forex trader succeed? They always use proper software that makes the decisions. Only machine, a powerful computer that analyzes all the data from the the market is able to make the right decision. Machines don't have emotions, they don't know what fear or greed means, and they never act according to intuition. They obtain the results by means of calculation, and this makes them the best advisers. I hope by now you heard about Forex Automoney, a powerful forex trading software that has been used by many forex trader who really want to make huge income.
So let's start with our review, what is forex automoney? Forex Automoney is a proven, tested and tried forex trading signals generator. This piece of software spits signals that will allow trader to decide when to place their trade. You will see 2 buttons, Buy and sell. This are 2 important button that will determine your trading success. What I like about Forex Automoney is it doesn't involve complicated indicators and graphs. It is simple and easy to follow currency trading signals. This is a ready made buy/sell signals generated by highly specialized, intelligent and self improving software. This software produce $4,000 pips trading profits last year, so in case of proof I can say that this is really great system. It is also 100% mechanical.
I also like the system because of it's simplicity and effectiveness. There are lot of trading gurus who claims that their system works but actually they just give you the same craft that you already tried they just put a new packaging and presented the product to the public, but most of this software just clog your system, they didn't actually help you. But Forex Automoney was designed to give you easy, faster but effective trading signals. The system also create signals in three time frame which you don't ordinarily seen on most forex trading system.
Who will benefits from forex automoney? If you are just a beginner who really want to try forex trading, I can say that Forex Automoney is perfect for you. If you are dead serious 9-5Er's who really want to make extra money this will be a very good opportunity. To make our story short Forex Automoney is for everyone, expert and beginner alike even without prior trading experience.
This powerful piece of forex software is not a piece of garbage. This is actually the real deal. I already reviewed a lot of forex trading products and I found Forex Automoney second to none. Maybe it's time for you to take some action now. Start making real money and enjoy life! Learn more about Forex Automoney Here!
by mandy
Forex Trading is the easiest way to start making a passive income at the comfort of your own home. Forex trading is the largest market in the world and has the largest possibility of earning huge income in this path. Trading the forex was not that easy but with the boom of technology many forex trader found secret tools that will help them dig and create online wealth without going through the pain of losing and gambling. Forex isn't located in any particular city or town. As a matter of fact it isn't located anywhere, it is entirely electronic. All you need to start investing money on Forex is ONE dollar and access to the Internet. These easy to fulfill requirements are the reason why millions of people invest their money on Forex every day. There's no need for any specialized knowledge or skills to become a Forex trader. The crucial thing is to know which button to press. So far this all seems more like lottery than a method for a steady income. That's it. Many people feel that investing in Forex is more like gambling, and they don't treat it seriously. Actually the majority acts this way. Why? Because in order to make sensible investing decisions you have to know what you are doing. You need time and skills to figure out which button to press. Most people don't have time and skills to achieve this, and therefore they lose money.
Why do many forex trader succeed? They always use proper software that makes the decisions. Only machine, a powerful computer that analyzes all the data from the the market is able to make the right decision. Machines don't have emotions, they don't know what fear or greed means, and they never act according to intuition. They obtain the results by means of calculation, and this makes them the best advisers. I hope by now you heard about Forex Automoney, a powerful forex trading software that has been used by many forex trader who really want to make huge income.
So let's start with our review, what is forex automoney? Forex Automoney is a proven, tested and tried forex trading signals generator. This piece of software spits signals that will allow trader to decide when to place their trade. You will see 2 buttons, Buy and sell. This are 2 important button that will determine your trading success. What I like about Forex Automoney is it doesn't involve complicated indicators and graphs. It is simple and easy to follow currency trading signals. This is a ready made buy/sell signals generated by highly specialized, intelligent and self improving software. This software produce $4,000 pips trading profits last year, so in case of proof I can say that this is really great system. It is also 100% mechanical.
I also like the system because of it's simplicity and effectiveness. There are lot of trading gurus who claims that their system works but actually they just give you the same craft that you already tried they just put a new packaging and presented the product to the public, but most of this software just clog your system, they didn't actually help you. But Forex Automoney was designed to give you easy, faster but effective trading signals. The system also create signals in three time frame which you don't ordinarily seen on most forex trading system.
Who will benefits from forex automoney? If you are just a beginner who really want to try forex trading, I can say that Forex Automoney is perfect for you. If you are dead serious 9-5Er's who really want to make extra money this will be a very good opportunity. To make our story short Forex Automoney is for everyone, expert and beginner alike even without prior trading experience.
This powerful piece of forex software is not a piece of garbage. This is actually the real deal. I already reviewed a lot of forex trading products and I found Forex Automoney second to none. Maybe it's time for you to take some action now. Start making real money and enjoy life! Learn more about Forex Automoney Here!
The Biggest Shortcut in Learning Forex Trading
The Biggest Shortcut in Learning Forex Trading
by MaceoJourdan
I am going to give you probably the biggest shortcut in learning in your entire life. In fact, you probably would have a much more pleasant time in school if they had just shared these few things with you. It deals with the actual physical way that our brains learn. If you want to learn something quickly. I mean literally, if you want to take something and virtually put it into your mind, there are very few things that you have to avoid and just a few things you have to do. Okay?
First of all, you want to avoid sitting too long. I mean, literally sitting. Most of us sit down, plop down and go, I am going to go through all of these videos by Mac and I am going to run through all of them tonight. Before you have known it, you have gone through probably six hours of information. It is practically midnight. You are bone tired. You feel like you are ready to strike a match on your mouth because it is so dry. You haven't taken a water break. You haven't gone to the bathroom. You are just miserable. That's not the way to do it. Your brain literally has a physical limit with how much information you can put in it at one time. You also want to avoid and this is something, if there are any teachers on the line, you are probably going to be shocked; you don't want to take note. Now I will qualify that in a minute.
You don't want to take notes and here's why. If you hear me say something and then you are writing it down, I don't stop talking. Right? I continue talking while you are writing and I am here to tell you, you are even less likely to retain the information that is coming out of my mouth if you are writing at the same time.
Researches have found out that on any information that you read, hear or see; meaning a video or something like that you are going to forget 60% of it inside of 48 hours. Sixty percent; in fact, most people inside of three days, are going to forget 80 to 90% of what they heard. Most of the time it is because they are sitting too long, they are taking notes; they are trying to do what most of us found in school. It's called cramming which is try to shove all the information in our brains as quickly as possible.
by MaceoJourdan
I am going to give you probably the biggest shortcut in learning in your entire life. In fact, you probably would have a much more pleasant time in school if they had just shared these few things with you. It deals with the actual physical way that our brains learn. If you want to learn something quickly. I mean literally, if you want to take something and virtually put it into your mind, there are very few things that you have to avoid and just a few things you have to do. Okay?
First of all, you want to avoid sitting too long. I mean, literally sitting. Most of us sit down, plop down and go, I am going to go through all of these videos by Mac and I am going to run through all of them tonight. Before you have known it, you have gone through probably six hours of information. It is practically midnight. You are bone tired. You feel like you are ready to strike a match on your mouth because it is so dry. You haven't taken a water break. You haven't gone to the bathroom. You are just miserable. That's not the way to do it. Your brain literally has a physical limit with how much information you can put in it at one time. You also want to avoid and this is something, if there are any teachers on the line, you are probably going to be shocked; you don't want to take note. Now I will qualify that in a minute.
You don't want to take notes and here's why. If you hear me say something and then you are writing it down, I don't stop talking. Right? I continue talking while you are writing and I am here to tell you, you are even less likely to retain the information that is coming out of my mouth if you are writing at the same time.
Researches have found out that on any information that you read, hear or see; meaning a video or something like that you are going to forget 60% of it inside of 48 hours. Sixty percent; in fact, most people inside of three days, are going to forget 80 to 90% of what they heard. Most of the time it is because they are sitting too long, they are taking notes; they are trying to do what most of us found in school. It's called cramming which is try to shove all the information in our brains as quickly as possible.
Forex Trading Strategy - If Yours Doesn't Have This in it You Are Guaranteed to Lose
Forex Trading Strategy - If Yours Doesn't Have This in it You Are Guaranteed to Lose!
by kelly Price
Regardless of the forex trading strategy you use, it must contain the key element enclosed yet, most traders never even consider it and when asked what it is get it wrong! If you don't want to join the majority of losers, make sure your strategy has it and get in the winning minority...
The key to success in forex markets is:
A trading edge which you can define and which you have confidence in can help you NOT join the losing majority or the 95% of traders who burn their money.
Obvious?
Yes it is - but most traders think the statements below are trading edges and they are not! If you think they are, you will soon see your account wiped out.
Agree with any of the following statements and you are odds on to lose
- I have a forex robot with a simulated track record in hindsight and think it will make me money - Forex day trading and scalping are a great way to trade
- I like to trade breaking news stories and react quickly
- I like to predict forex prices in advance.
- I believe in a scientific method of trading and science is the answer
- I am clever so am bound to succeed
- I work hard and will get there in the end
- Knowledge is power and I will learn everything I can about forex
There are many more - but show me anyone who agrees with the above and I Will show you a loser.
The problem is most forex traders just don't understand what an edge is and the above are either myths, thinking forex trading is a walk in the park, or they can follow other people.
Forex trading is hard and that's why the rewards are so big for the small minority who can get a trading edge.
The good news is anyone can learn to trade and get an edge with the right education.
A trading edge is personal but it is the key factor which will give you confidence and allow you to follow your chosen forex trading strategy through periods of losses (and don't believe anyone who says losing periods don't last - they can last for many weeks and this happens to even the worlds top traders) and stay on course with discipline until you hit a home run.
In forex trading its dealing with the losses that is the hard part and if you think it's easy to stay disciplined when the market makes you look a fool time after time, you have never traded.
In forex trading you must love your losses and see them as part of being successful.
A trading edge has nothing to do with being clever or working hard or having a complicated strategy.
It's a fact that simple systems work best and always will, as they have fewer elements to break. Furthermore, your strategy on its own even if its logically based still needs to be applied for this you need confidence and this will lead to discipline.
Lack of discipline is the key reason most traders fail because, if you can't follow your trading system with discipline you don't have one. To win at forex trading you need to work smart not hard; you can learn forex trading in a few weeks, gain confidence, get discipline and then start trading and get on the road to currency trading success.
by kelly Price
Regardless of the forex trading strategy you use, it must contain the key element enclosed yet, most traders never even consider it and when asked what it is get it wrong! If you don't want to join the majority of losers, make sure your strategy has it and get in the winning minority...
The key to success in forex markets is:
A trading edge which you can define and which you have confidence in can help you NOT join the losing majority or the 95% of traders who burn their money.
Obvious?
Yes it is - but most traders think the statements below are trading edges and they are not! If you think they are, you will soon see your account wiped out.
Agree with any of the following statements and you are odds on to lose
- I have a forex robot with a simulated track record in hindsight and think it will make me money - Forex day trading and scalping are a great way to trade
- I like to trade breaking news stories and react quickly
- I like to predict forex prices in advance.
- I believe in a scientific method of trading and science is the answer
- I am clever so am bound to succeed
- I work hard and will get there in the end
- Knowledge is power and I will learn everything I can about forex
There are many more - but show me anyone who agrees with the above and I Will show you a loser.
The problem is most forex traders just don't understand what an edge is and the above are either myths, thinking forex trading is a walk in the park, or they can follow other people.
Forex trading is hard and that's why the rewards are so big for the small minority who can get a trading edge.
The good news is anyone can learn to trade and get an edge with the right education.
A trading edge is personal but it is the key factor which will give you confidence and allow you to follow your chosen forex trading strategy through periods of losses (and don't believe anyone who says losing periods don't last - they can last for many weeks and this happens to even the worlds top traders) and stay on course with discipline until you hit a home run.
In forex trading its dealing with the losses that is the hard part and if you think it's easy to stay disciplined when the market makes you look a fool time after time, you have never traded.
In forex trading you must love your losses and see them as part of being successful.
A trading edge has nothing to do with being clever or working hard or having a complicated strategy.
It's a fact that simple systems work best and always will, as they have fewer elements to break. Furthermore, your strategy on its own even if its logically based still needs to be applied for this you need confidence and this will lead to discipline.
Lack of discipline is the key reason most traders fail because, if you can't follow your trading system with discipline you don't have one. To win at forex trading you need to work smart not hard; you can learn forex trading in a few weeks, gain confidence, get discipline and then start trading and get on the road to currency trading success.
Forex Myths - 3 Common Ones That If You Believe Them Will Destroy Your Equity
Forex Myths - 3 Common Ones That If You Believe Them Will Destroy Your Equity
by kelly Price
Here are 4 common myths that most new forex traders make and end up losing all their money quickly. If you fall for any of them, you will end up a loser. Let's look at them..
Myth
You Can Follow a Forex Robot with a Simulated Track Record and Win
Many traders are just naïve or stupid and believe if they invest 100 dollars in a forex robot they will get a guaranteed income what they end up getting is a guaranteed loss. Quite simply, these traders don't look and see the robots come with paper simulated track records and gains NOT real ones!
There simply made up knowing the past we can all do that but trading without knowing the price closes is vastly different.
Myth
Buy Low Sell High is the Aim of Successful Forex Speculation
It's a well worn phrase and its dead wrong if you try and buy low and sell high, you will miss most of the big moves which actually start and accelerate from new market highs and lows.
All the best trends come from these breakouts and if you don't trade them, you will miss the best opportunities.
Myth
You Need to Predict to Win
This really goes with the above myth. Traders get obsessed with predicting tops and bottoms but of course if you are predicting, you are hoping and guessing and that won't get you very far in life let alone forex trading. Trade the reality of price change and never predict if you want to win.
Myth Intelligence and Hard Work Bring Success
Not at all, you don't need to be intelligent to win and clever people who think they deserve success end up disappointed. Furthermore, hard work doesn't guarantee success. The only criteria you are judged on is how much money your trading signal makes and it doesn't matter if you took 5 minutes over it, or 5 hours it's the result that counts.
Myth
Forex Trading is Easy
Many vendors of robots, day trading systems and forex signal services promote this myth because it's in their interest but of course it's not easy, if it were 95% of traders wouldn't lose. Only 5% win and make really good money from forex trading and if you think trading is a "walk in the park" the market will hand you a lesson in respect.
The rewards are so high because it's not easy, forex success is achievable but you need a strong forex education and the mindset to succeed.
The above 4 are not the only forex myths traders' fall for but there very common and if you believe them your trading account won't last long.
by kelly Price
Here are 4 common myths that most new forex traders make and end up losing all their money quickly. If you fall for any of them, you will end up a loser. Let's look at them..
Myth
You Can Follow a Forex Robot with a Simulated Track Record and Win
Many traders are just naïve or stupid and believe if they invest 100 dollars in a forex robot they will get a guaranteed income what they end up getting is a guaranteed loss. Quite simply, these traders don't look and see the robots come with paper simulated track records and gains NOT real ones!
There simply made up knowing the past we can all do that but trading without knowing the price closes is vastly different.
Myth
Buy Low Sell High is the Aim of Successful Forex Speculation
It's a well worn phrase and its dead wrong if you try and buy low and sell high, you will miss most of the big moves which actually start and accelerate from new market highs and lows.
All the best trends come from these breakouts and if you don't trade them, you will miss the best opportunities.
Myth
You Need to Predict to Win
This really goes with the above myth. Traders get obsessed with predicting tops and bottoms but of course if you are predicting, you are hoping and guessing and that won't get you very far in life let alone forex trading. Trade the reality of price change and never predict if you want to win.
Myth Intelligence and Hard Work Bring Success
Not at all, you don't need to be intelligent to win and clever people who think they deserve success end up disappointed. Furthermore, hard work doesn't guarantee success. The only criteria you are judged on is how much money your trading signal makes and it doesn't matter if you took 5 minutes over it, or 5 hours it's the result that counts.
Myth
Forex Trading is Easy
Many vendors of robots, day trading systems and forex signal services promote this myth because it's in their interest but of course it's not easy, if it were 95% of traders wouldn't lose. Only 5% win and make really good money from forex trading and if you think trading is a "walk in the park" the market will hand you a lesson in respect.
The rewards are so high because it's not easy, forex success is achievable but you need a strong forex education and the mindset to succeed.
The above 4 are not the only forex myths traders' fall for but there very common and if you believe them your trading account won't last long.
Automated Forex Trading Systems - Reduce Your Risk Down to Zero
Automated Forex Trading Systems - Reduce Your Risk Down to Zero
by Demond Jackson
The problem with successfully and profitably trading in the foreign exchange market is not having a proven system for success. Many people lose money when they really don't have to. The truth is that with the right system, you can succeed at anything.
The best system that I've found is a system that automates your forex trades. Automated Forex trading is the most advanced form of Forex trading. Most of the traders faced the problem of being physically present at the trading center for twenty four hours and seven days a week. Automated Forex trading came as a blessing in disguise as this machine can inform the traders about the ideal time for entry and exit of the market.
Before the automated Forex trading system had started most of the traders were at a loss. It was not possible for them to always monitor the market trend for twenty four hours. Monitoring the market trend is utterly necessary so that the rising and falling trend can be studied and immediate decisions can be taken to avoid loss.
It is true that automated Forex trading is done by a machine and a machine can also develop faults. But on the whole it is a very efficient device for beginners as it helps them to learn that which is the ideal time to enter the market and which is the ideal time to exit from the market. In short it means that the entry should be made at the time when the market is rising and exit should be taken before the market falls. Automated Forex trading is a strategy you should employ immediately.
by Demond Jackson
The problem with successfully and profitably trading in the foreign exchange market is not having a proven system for success. Many people lose money when they really don't have to. The truth is that with the right system, you can succeed at anything.
The best system that I've found is a system that automates your forex trades. Automated Forex trading is the most advanced form of Forex trading. Most of the traders faced the problem of being physically present at the trading center for twenty four hours and seven days a week. Automated Forex trading came as a blessing in disguise as this machine can inform the traders about the ideal time for entry and exit of the market.
Before the automated Forex trading system had started most of the traders were at a loss. It was not possible for them to always monitor the market trend for twenty four hours. Monitoring the market trend is utterly necessary so that the rising and falling trend can be studied and immediate decisions can be taken to avoid loss.
It is true that automated Forex trading is done by a machine and a machine can also develop faults. But on the whole it is a very efficient device for beginners as it helps them to learn that which is the ideal time to enter the market and which is the ideal time to exit from the market. In short it means that the entry should be made at the time when the market is rising and exit should be taken before the market falls. Automated Forex trading is a strategy you should employ immediately.
วันพฤหัสบดีที่ 17 กรกฎาคม พ.ศ. 2551
Forex Autopilot System - Important Features of Forex Autopilot System
Forex Autopilot System - Important Features of Forex Autopilot System
by mandy
Many people are aware of the huge opportunity that forex market has offering. But making real money from forex trading is really hard especially if you doesn't have the right key to the door of helpful information. We are all looking for something that will might help us to upgrade our life. Many of us our desperate to have an extra income that will support our family. And embarking into forex trading is a wise decision for us to make, because forex market are offering an endless flow of passive income.
Now, if you are just a beginner who are looking for an extra income from forex trading is a good choice. You can start making money immediately without having to worry. How? With the help of an automated trading software that actually analyze trends you can now trade without having to spend a lot of time in front of your monitor. With the boom of technology trading software has come to its full forced giving trader a winning edge. You can now trade completely on autopilot. You are maybe skeptical with this kind of software, who wasn't? Imagine without having to monitor your trade and even when you are asleep you can still make money? Too good to be true isn't it? But all of this are real, you are not dreaming. There are really trading robots that do magic and they accurately predict trends giving you the right signals at the right time.
But not automated forex or forex autopilot are real some of the them are claiming to be one. To determine if the trading system are real on autopilot you must take careful consideration on the following:
* a trading system is automated if it doesn't involved any trading or technical experience. You can start making money even when you are not a mathematematcian, a statistic or any business or trading knowledge.
* an automated forex trading doesn't involve long hours of monitoring trades. You can enjoy life without having to worry about anything.
* a forex autopilot spits out money even when you doesn't made any effort. You really don't have to interpret graphs, indicator and a lot more. This complicated indicators doesn't help you at all they just clog your system.
* a true forex trading system on autopilot runs on any meta trader platform.
* it should be consistently profitable. Forex autopilot should give you a long time profits not just money for a couple of month but for a lifetime. It should be dependable and tested by time.
* a true forex autopilot doesn't ask you to trade based on your emotion. Trading with your emotion is really a bad move. You should bear that in mind.
* and a true autopilot forex doesn't ask you to be greedy. It will tell you when to start, when to stop and when to set aside.
I hope with this pointer you can put an end to your pursue of the best forex autopilot system. Remember this trading system should be use as a tool. Don't really blame them when something you doesn't expected turns out to be. After all the last decision is actually in your hand. Read more about forex autopilot at: forex autopilot best review
by mandy
Many people are aware of the huge opportunity that forex market has offering. But making real money from forex trading is really hard especially if you doesn't have the right key to the door of helpful information. We are all looking for something that will might help us to upgrade our life. Many of us our desperate to have an extra income that will support our family. And embarking into forex trading is a wise decision for us to make, because forex market are offering an endless flow of passive income.
Now, if you are just a beginner who are looking for an extra income from forex trading is a good choice. You can start making money immediately without having to worry. How? With the help of an automated trading software that actually analyze trends you can now trade without having to spend a lot of time in front of your monitor. With the boom of technology trading software has come to its full forced giving trader a winning edge. You can now trade completely on autopilot. You are maybe skeptical with this kind of software, who wasn't? Imagine without having to monitor your trade and even when you are asleep you can still make money? Too good to be true isn't it? But all of this are real, you are not dreaming. There are really trading robots that do magic and they accurately predict trends giving you the right signals at the right time.
But not automated forex or forex autopilot are real some of the them are claiming to be one. To determine if the trading system are real on autopilot you must take careful consideration on the following:
* a trading system is automated if it doesn't involved any trading or technical experience. You can start making money even when you are not a mathematematcian, a statistic or any business or trading knowledge.
* an automated forex trading doesn't involve long hours of monitoring trades. You can enjoy life without having to worry about anything.
* a forex autopilot spits out money even when you doesn't made any effort. You really don't have to interpret graphs, indicator and a lot more. This complicated indicators doesn't help you at all they just clog your system.
* a true forex trading system on autopilot runs on any meta trader platform.
* it should be consistently profitable. Forex autopilot should give you a long time profits not just money for a couple of month but for a lifetime. It should be dependable and tested by time.
* a true forex autopilot doesn't ask you to trade based on your emotion. Trading with your emotion is really a bad move. You should bear that in mind.
* and a true autopilot forex doesn't ask you to be greedy. It will tell you when to start, when to stop and when to set aside.
I hope with this pointer you can put an end to your pursue of the best forex autopilot system. Remember this trading system should be use as a tool. Don't really blame them when something you doesn't expected turns out to be. After all the last decision is actually in your hand. Read more about forex autopilot at: forex autopilot best review
Forex Trading From Home - Become a Successful Trader in 2 Weeks!
Forex Trading From Home - Become a Successful Trader in 2 Weeks!
by kelly Price
Here I am going to give you a checklist on how to get started in forex trading from home in just 14 days and then be on target to make triple digit profits in under 30 minutes a day.
What inspired me to write this article is the "turtle experiment" where Richard Dennis taught a group of traders to trade in just 14 days and they went on to make hundreds of millions of dollars. You probably won't make as much money as this group but it shows anyone can learn and anyone can be successful, if they have the right forex education.
Lets get started and the first area to focus on is learning about forex charts and formations and all this information is available free online. You need to focus on long term trend following and base your strategy on breakouts.
We have written about these frequently simply look up our other articles. Once you have this mastered, check some indicators to time you're trading signals and take your time two great ones to start with are the stochastic and RSI, so look them up.
You will now have a simple robust forex trading strategy you can apply for profit. Don't think simple systems don't make money - they do. Simple systems are robust and easy to understand and will enable you to have confidence and discipline which is essential for currency trading success.
Discipline is what separates winners from losers.
You must be able to apply your trading system through losing periods with discipline until you hit a home run and if you cant do it - you don't have a system.
It's always good to get some lessons from the pros and some books which are from traders who have walked the walk and don't just talk the talk.
Here are a few which I think can help any trader.
The Disciplined Trader - Mark Douglas
This is simply one of the best books on trading discipline you will read and for any newbie trader who thinks discipline is easy, read it and you will see why its not and why most traders cant master it.
Another excellent book is.
The Way of the Turtle - Curtis Faith
The most successful of the turtle group we discussed earlier, its essential reading and very inspiring as well.
Finally I simply love the book - Trader Vic Methods of a Wall Street Master by Victor Sperandeo.
This guy is simply consistent decade after decade of huge returns and you get a bit of everything in this book.
The above 3 books will cost you less than a $100.00 but will give you some great insight on the discipline side and what it takes to be a winner and pay for themselves many times over.
When you come to trade your system, make sure that you have enough cash forget trading with $50 d and get a reasonable amount so you have staying power. $500 - 1,000 is a bare minimum and preferably $5,000.
Do not over leverage, take it gently to start, forget about 200:1 leverage and start at 10.
You are in this for the long run and you need to preserve equity and build your base.
Once your system is set you are ready to roll, don't believe all the people who say you should try and improve their system, or keep journals of your losses its complete waste of time.
You are going to lose, that's trading and the perfect system doesn't exist.
I have used the same system for 25 years and never changed it sure it losses but overall it gives me great annual profits for less than 30 minutes work a day and the system enclosed can do the same for you, allowing you to become a profitable forex trader from home.
Follow the above steps and you could be on the road to currency trading success in just 2 weeks and making profits in around 30 minutes day.
by kelly Price
Here I am going to give you a checklist on how to get started in forex trading from home in just 14 days and then be on target to make triple digit profits in under 30 minutes a day.
What inspired me to write this article is the "turtle experiment" where Richard Dennis taught a group of traders to trade in just 14 days and they went on to make hundreds of millions of dollars. You probably won't make as much money as this group but it shows anyone can learn and anyone can be successful, if they have the right forex education.
Lets get started and the first area to focus on is learning about forex charts and formations and all this information is available free online. You need to focus on long term trend following and base your strategy on breakouts.
We have written about these frequently simply look up our other articles. Once you have this mastered, check some indicators to time you're trading signals and take your time two great ones to start with are the stochastic and RSI, so look them up.
You will now have a simple robust forex trading strategy you can apply for profit. Don't think simple systems don't make money - they do. Simple systems are robust and easy to understand and will enable you to have confidence and discipline which is essential for currency trading success.
Discipline is what separates winners from losers.
You must be able to apply your trading system through losing periods with discipline until you hit a home run and if you cant do it - you don't have a system.
It's always good to get some lessons from the pros and some books which are from traders who have walked the walk and don't just talk the talk.
Here are a few which I think can help any trader.
The Disciplined Trader - Mark Douglas
This is simply one of the best books on trading discipline you will read and for any newbie trader who thinks discipline is easy, read it and you will see why its not and why most traders cant master it.
Another excellent book is.
The Way of the Turtle - Curtis Faith
The most successful of the turtle group we discussed earlier, its essential reading and very inspiring as well.
Finally I simply love the book - Trader Vic Methods of a Wall Street Master by Victor Sperandeo.
This guy is simply consistent decade after decade of huge returns and you get a bit of everything in this book.
The above 3 books will cost you less than a $100.00 but will give you some great insight on the discipline side and what it takes to be a winner and pay for themselves many times over.
When you come to trade your system, make sure that you have enough cash forget trading with $50 d and get a reasonable amount so you have staying power. $500 - 1,000 is a bare minimum and preferably $5,000.
Do not over leverage, take it gently to start, forget about 200:1 leverage and start at 10.
You are in this for the long run and you need to preserve equity and build your base.
Once your system is set you are ready to roll, don't believe all the people who say you should try and improve their system, or keep journals of your losses its complete waste of time.
You are going to lose, that's trading and the perfect system doesn't exist.
I have used the same system for 25 years and never changed it sure it losses but overall it gives me great annual profits for less than 30 minutes work a day and the system enclosed can do the same for you, allowing you to become a profitable forex trader from home.
Follow the above steps and you could be on the road to currency trading success in just 2 weeks and making profits in around 30 minutes day.
Success With Online Forex Trading
Success With Online Forex Trading
by Jaffa Matt
To be successful in online Forex trading, knowing how to trade is not sufficient. Forex is one of the largest and most liquid financial market in the world. You need to know about the different things involved in online Forex trading in order to make more money. Knowledge and A skill on how to trade is not enough.
Knowing how to trade and to know about the major currencies traded are just the basic of online Forex trading. To be successful, we should know additional things like when to trade and what to trade. These are called trading strategy. What trading strategies involved in online Forex trading? There are a few, and it is used by some seasoned traders out there.
The Leverage Forex Trading Strategy is one of them. In this strategy, a Forex investor is allowed to borrow money to increase his earning potential. This strategy is commonly used to maximize profit.
With this strategy, you can turn your investment to 1:100 ratio with ease. But, the risk can be very high too. In order to minimize the risk, as well as the loss, you can apply another strategy called Stop Loss Orders Strategy.
Stop Loss Orders Strategy enables a trader to create a predetermined point in the trade where he will not trade. This is how a trader minimize the risk and loss with the earlier strategy. However, the trader may face the risk of stopping trades when the value of the currency increase unexpectedly.
Online Forex trading is one of the most liquid 24hr market in the world. You can trade anytime and anywhere you like. You can enter and exit the market as you wish. Some traders only trade at a specific time. The best of all, there is no daily trading limit.
Here are some tips that can help you earn more money:-
1. The first and the last ticks are usually the most expensive. So, getting in late and getting out early is the safest practice.
2. When you are losing, minimize the risk of losing more money. In other words, DO NOT adds money.
3. Select trades that move along with the trends. In this way you can minimize the risk of losing money and maximize chances of profit.
In online Forex trading market, there are few tools you can find that will help you to make more money. One of them is Forex Charts. This chart is used to determine market trends and to predict the future value of the currency. Of course it is not 100% accurate but at least the Forex chart can be used as a reliable guide to the trading market.
There are daily charts, hourly charts, 15 minutes charts and also 5 minutes charts for you to read.
You need to know how to read and compare each of the data that you can find in the chart, in order to spot market trends. But the most important is to spot potential money making trends.
Learning how to read Forex charts effectively can help you minimize the risk of losing money and also to make you a successful trader.
In online Forex trading, you should learn how to minimize the risks and maximize your earning potentials. Apply the correct strategies and look out for more trading tips. You can really make a lot of money trading in Forex market. But sometimes, you will make mistake and you will lose money. Never get discouraged. Analyze your mistake, work out a solution and earn back what you have lost. That will make you a true successful online Forex trader.
by Jaffa Matt
To be successful in online Forex trading, knowing how to trade is not sufficient. Forex is one of the largest and most liquid financial market in the world. You need to know about the different things involved in online Forex trading in order to make more money. Knowledge and A skill on how to trade is not enough.
Knowing how to trade and to know about the major currencies traded are just the basic of online Forex trading. To be successful, we should know additional things like when to trade and what to trade. These are called trading strategy. What trading strategies involved in online Forex trading? There are a few, and it is used by some seasoned traders out there.
The Leverage Forex Trading Strategy is one of them. In this strategy, a Forex investor is allowed to borrow money to increase his earning potential. This strategy is commonly used to maximize profit.
With this strategy, you can turn your investment to 1:100 ratio with ease. But, the risk can be very high too. In order to minimize the risk, as well as the loss, you can apply another strategy called Stop Loss Orders Strategy.
Stop Loss Orders Strategy enables a trader to create a predetermined point in the trade where he will not trade. This is how a trader minimize the risk and loss with the earlier strategy. However, the trader may face the risk of stopping trades when the value of the currency increase unexpectedly.
Online Forex trading is one of the most liquid 24hr market in the world. You can trade anytime and anywhere you like. You can enter and exit the market as you wish. Some traders only trade at a specific time. The best of all, there is no daily trading limit.
Here are some tips that can help you earn more money:-
1. The first and the last ticks are usually the most expensive. So, getting in late and getting out early is the safest practice.
2. When you are losing, minimize the risk of losing more money. In other words, DO NOT adds money.
3. Select trades that move along with the trends. In this way you can minimize the risk of losing money and maximize chances of profit.
In online Forex trading market, there are few tools you can find that will help you to make more money. One of them is Forex Charts. This chart is used to determine market trends and to predict the future value of the currency. Of course it is not 100% accurate but at least the Forex chart can be used as a reliable guide to the trading market.
There are daily charts, hourly charts, 15 minutes charts and also 5 minutes charts for you to read.
You need to know how to read and compare each of the data that you can find in the chart, in order to spot market trends. But the most important is to spot potential money making trends.
Learning how to read Forex charts effectively can help you minimize the risk of losing money and also to make you a successful trader.
In online Forex trading, you should learn how to minimize the risks and maximize your earning potentials. Apply the correct strategies and look out for more trading tips. You can really make a lot of money trading in Forex market. But sometimes, you will make mistake and you will lose money. Never get discouraged. Analyze your mistake, work out a solution and earn back what you have lost. That will make you a true successful online Forex trader.
Learn Forex Day Trading System
Learn Forex Day Trading System
by Yory Markady
Forex Day trading is system of trading on the forex market, where the trader begins and ends all trades on the same trading day. simply we can say that a forex day trader makes trading in the market wherein the trader buys, sells in a day. Forex day trading is the same thing; the only change comes where in Forex day trading currencies replaces the stock. The commodity changes when it comes to the Forex day trading which is currency.
Day trading in the foreign currency market is affected by many factors as current events, rumors, and news more than other types of trading in stocks and future markets. Forex day trading differs with trading in stocks in the sense that, in Forex day trading we cannot buy currencies for a longer period of time like our children get benefit from them because it will not grow as the exchange rates fluctuate too quickly, whereas in stock trading, the shares are purchased for longer periods of time where our children or may grand children get the benefits from them.
We can compare Forex day trading with the trading in the futures market, the only difference between the two markets is, in Forex day trading, the liquidity is higher than the futures market and trading costs are much lower. The people who involved in the day trading are professionals who are not only intelligent and well educated but they also understand the market charts and trends which help them in making forecasting possible.
Forex day trading can be much profitable if done correctly. Successful Forex day traders enjoy not only the profits and wealth-building potential of Forex trading but the peace of mind of not holding open Forex trades overnight.
If you are a beginner or still struggling to be profitable in forex market my best advice for you is to create a system and if you not experienced enough to do it yourself, Get one! but WAIT! dont go and get any online forex system. Forex world is filled with alot of scams and it is hard to get a system that actually works. I have been trading futures and stocks for almost 15 years and started with forex few years ago and even as an experienced trader i lost lot of money in my first few months until I heard about Forex Tracer System from a trader who used to work with me in an investment firm. I have been using Forex Tracer Expert Advisor since that day and did so well that now I only trade in forex market and make much enough to live a lifestyle that everyone would dream to live. If I was in any other business and was afraid of competition I wouldnt share this information but since I know I am not lossing anything by sharing what worked for me thats why i am doing it just to help newbies or those having trouble.
In short, we can say that Forex day trading is risky business which can be profitable, it can be exciting or frustrating but one thing is for sure about Forex market that it can never be boring.
I would recommend Forex Tracer System to anyone, its certainly one of the best forex expert advisors available that can help make your dream come reality.
by Yory Markady
Forex Day trading is system of trading on the forex market, where the trader begins and ends all trades on the same trading day. simply we can say that a forex day trader makes trading in the market wherein the trader buys, sells in a day. Forex day trading is the same thing; the only change comes where in Forex day trading currencies replaces the stock. The commodity changes when it comes to the Forex day trading which is currency.
Day trading in the foreign currency market is affected by many factors as current events, rumors, and news more than other types of trading in stocks and future markets. Forex day trading differs with trading in stocks in the sense that, in Forex day trading we cannot buy currencies for a longer period of time like our children get benefit from them because it will not grow as the exchange rates fluctuate too quickly, whereas in stock trading, the shares are purchased for longer periods of time where our children or may grand children get the benefits from them.
We can compare Forex day trading with the trading in the futures market, the only difference between the two markets is, in Forex day trading, the liquidity is higher than the futures market and trading costs are much lower. The people who involved in the day trading are professionals who are not only intelligent and well educated but they also understand the market charts and trends which help them in making forecasting possible.
Forex day trading can be much profitable if done correctly. Successful Forex day traders enjoy not only the profits and wealth-building potential of Forex trading but the peace of mind of not holding open Forex trades overnight.
If you are a beginner or still struggling to be profitable in forex market my best advice for you is to create a system and if you not experienced enough to do it yourself, Get one! but WAIT! dont go and get any online forex system. Forex world is filled with alot of scams and it is hard to get a system that actually works. I have been trading futures and stocks for almost 15 years and started with forex few years ago and even as an experienced trader i lost lot of money in my first few months until I heard about Forex Tracer System from a trader who used to work with me in an investment firm. I have been using Forex Tracer Expert Advisor since that day and did so well that now I only trade in forex market and make much enough to live a lifestyle that everyone would dream to live. If I was in any other business and was afraid of competition I wouldnt share this information but since I know I am not lossing anything by sharing what worked for me thats why i am doing it just to help newbies or those having trouble.
In short, we can say that Forex day trading is risky business which can be profitable, it can be exciting or frustrating but one thing is for sure about Forex market that it can never be boring.
I would recommend Forex Tracer System to anyone, its certainly one of the best forex expert advisors available that can help make your dream come reality.
Forex Autopilot
Forex Autopilot
by Abhishek Sundaram
There have been a number of reviews demonstrating the effectiveness of Forex Autopilot. This review is also something similar to them, but I would like to tell you the money making perspective of this tool. Before I explain the software to you, let me first brief you about Forex. It is a world wide market in which currencies are traded. Trillions of dollars are traded in this market each and every day.
This arena may turn out to be a fortune for many people, but on the other hand, it may be a trap for some people. No one can predict how the market will move in the future. Thereby, if you are in the wrong side of the market, you will naturally lose huge amounts of money. The Forex Market functions all 24 hours on all days of the year. It is said to be the largest trading arena in the world.
Forex Autopilot is a software that was introduced to help people trade in the Forex Market by just sitting in their home. This software will not control the Forex Market, but it will help you control all your trades. As human beings, we cannot sit in front of the computer screen right through the day. This software can be used to solve this purpose. It controls all your trades for you in the Forex Market.
You may be worried about the cost of this software. It is not very expensive. The cost is less than $100, which you can easily get back during your trading as profit. The amount of profit that you get is totally dependent on the money you invest. You cannot dream to become a millionaire overnight by just investing $1000. If you do so, your dreams will just remain dreams. You will have to invest more in order to reap more harvest.
Forex Autopilot can be used to serve people who work at home. It can yield them a fair amount of money everyday. This software has proved to be the best among most people and this can be seen in the Forex Autopilot Reviews in most of the websites.
This software is not very accurate. More accurate tools are available in the market but they are very expensive. For people who dream to make small amounts of profit daily in the Forex Market, this software will turn out to be extremely effective.
by Abhishek Sundaram
There have been a number of reviews demonstrating the effectiveness of Forex Autopilot. This review is also something similar to them, but I would like to tell you the money making perspective of this tool. Before I explain the software to you, let me first brief you about Forex. It is a world wide market in which currencies are traded. Trillions of dollars are traded in this market each and every day.
This arena may turn out to be a fortune for many people, but on the other hand, it may be a trap for some people. No one can predict how the market will move in the future. Thereby, if you are in the wrong side of the market, you will naturally lose huge amounts of money. The Forex Market functions all 24 hours on all days of the year. It is said to be the largest trading arena in the world.
Forex Autopilot is a software that was introduced to help people trade in the Forex Market by just sitting in their home. This software will not control the Forex Market, but it will help you control all your trades. As human beings, we cannot sit in front of the computer screen right through the day. This software can be used to solve this purpose. It controls all your trades for you in the Forex Market.
You may be worried about the cost of this software. It is not very expensive. The cost is less than $100, which you can easily get back during your trading as profit. The amount of profit that you get is totally dependent on the money you invest. You cannot dream to become a millionaire overnight by just investing $1000. If you do so, your dreams will just remain dreams. You will have to invest more in order to reap more harvest.
Forex Autopilot can be used to serve people who work at home. It can yield them a fair amount of money everyday. This software has proved to be the best among most people and this can be seen in the Forex Autopilot Reviews in most of the websites.
This software is not very accurate. More accurate tools are available in the market but they are very expensive. For people who dream to make small amounts of profit daily in the Forex Market, this software will turn out to be extremely effective.
วันอาทิตย์ที่ 13 กรกฎาคม พ.ศ. 2551
Currency Swing Trading - Why Novices Can Build Big Profits With This Method
Currency Swing Trading - Why Novices Can Build Big Profits With This Method
by kelly Price
Currency swing trading is the perfect method for a novice to use because it overcomes the main barrier that most traders have when trying to achieve currency trading success...
It overcomes the problem of discipline. Most traders lack discipline and it's the big difference between success and failure and swing trading requires very little as profits and losses come quickly. It also overcomes the impatience of most traders who like to trade.
Before we continue you might say well, forex day trading requires even less because the moves are shorter but the problem you have with day trading is it simply doesn't work.
Why?
Because all moves within a day are random and you can never get the odds on your side and you will eventually lose.
You get a lot of vendors telling you that you can make money day trading but look at their track records - there all simulations in hindsight and that means nothing.
Swing trading is easier than long term trend following from both a discipline point of view and a patience point of view but can be just as profitable.
You're Aim
You are looking for reactions within the major trends when prices get over bought and oversold and trading into these levels and a swing trading based upon the following will work.
You simply need to use trend lines and Bollinger Bands - the latter tells you the volatility and is a great tool. Check our other articles for more details. When prices become overbought and oversold and testing resistance or support you have a potential trade.
Confirm the Move
Before it gets to this level you need to check the strength of price it should weaken into resistance and strengthen into support ( never guess always wait for confirmation), you check the strength of price with momentum oscillators and two great ones to use are the stochastic and RSI.
You're Stop
If they support your view you trade and your stop goes behind the support or resistance level tested.
Hit and Run
You should take your profit early and not trail a stop and your profit should be taken in when the price moves toward the next level of support or resistance. Currency swing trading profits disappear quickly, so you simply take them early or "hit and run and bank"
Simple but Effective
Now the above is a simple currency swing trading system I have used for 20 years or so and it's worked well for me and can for you and you can pile up triple digit profits. Don't be put off by its simplicity all the best systems are and this means they are robust with fewer elements to break.
You can learn to swing trade in a week or so and it will take you less than 30 minutes to apply. It's fun, exciting and can and does make big profits - try swing trading and you maybe glad you did.
by kelly Price
Currency swing trading is the perfect method for a novice to use because it overcomes the main barrier that most traders have when trying to achieve currency trading success...
It overcomes the problem of discipline. Most traders lack discipline and it's the big difference between success and failure and swing trading requires very little as profits and losses come quickly. It also overcomes the impatience of most traders who like to trade.
Before we continue you might say well, forex day trading requires even less because the moves are shorter but the problem you have with day trading is it simply doesn't work.
Why?
Because all moves within a day are random and you can never get the odds on your side and you will eventually lose.
You get a lot of vendors telling you that you can make money day trading but look at their track records - there all simulations in hindsight and that means nothing.
Swing trading is easier than long term trend following from both a discipline point of view and a patience point of view but can be just as profitable.
You're Aim
You are looking for reactions within the major trends when prices get over bought and oversold and trading into these levels and a swing trading based upon the following will work.
You simply need to use trend lines and Bollinger Bands - the latter tells you the volatility and is a great tool. Check our other articles for more details. When prices become overbought and oversold and testing resistance or support you have a potential trade.
Confirm the Move
Before it gets to this level you need to check the strength of price it should weaken into resistance and strengthen into support ( never guess always wait for confirmation), you check the strength of price with momentum oscillators and two great ones to use are the stochastic and RSI.
You're Stop
If they support your view you trade and your stop goes behind the support or resistance level tested.
Hit and Run
You should take your profit early and not trail a stop and your profit should be taken in when the price moves toward the next level of support or resistance. Currency swing trading profits disappear quickly, so you simply take them early or "hit and run and bank"
Simple but Effective
Now the above is a simple currency swing trading system I have used for 20 years or so and it's worked well for me and can for you and you can pile up triple digit profits. Don't be put off by its simplicity all the best systems are and this means they are robust with fewer elements to break.
You can learn to swing trade in a week or so and it will take you less than 30 minutes to apply. It's fun, exciting and can and does make big profits - try swing trading and you maybe glad you did.
Forex Trading Fact - Get This Question Wrong and You Will Never Win!
Forex Trading Fact - Get This Question Wrong and You Will Never Win!
by Samuel Lesley Berkovits
If you can't get this question right, you will never win at forex trading and are destined to join the 99% of losers - get it right however and you could be on the road to forex trading success.
Here it is
What is your trading edge defined which will enable you to win?
A Trading Edge is NOT THE Following
Now most people mistake what a trading edge is and it's not any of the ones listed below and most traders believe them, so if you agree with the statements below you will lose:
- I am going to try day trading and scalping to make money
- I am going to follow a robot hey it only has a simulated back tested track record but that's no problem
- I am going to trade breaking news stories
- I am clever and work hard that will bring me success
- I am going to predict prices in advance
- I believe in the scientific theory of market movement
- I don't worry about money management that's just placing a stop
- Complicated systems are best as knowledge is power
All the above if you believe them will see you lose and are common statements by novice traders but there not a trading edge and anyone believing the above can kiss goodbye to their equity.
Forex Success and an Edge Is Built on This.
Working at the basics and working smart, you are not given success so forget all the junk forex robots and day trading courses that tell you that you can win - you can't. Most robots have never even been traded in real time and day trading by its nature doesn't work.
Neither do scientific approaches, as the markets are obviously not scientific, if they were we would all know the price in advance and there would be no market!
Stop hoping someone will give you success and base your forex trading strategy on the following key points. They can lead you to a trading edge and currency trading success.
- Get a simple forex trading system, based around trading the odds
- Have confidence in it by learning it
- This will enable you to trade it with discipline for long term success
- By learningforex yourself you will have an edge you are confident in
By learning yourself you will get a trading edge you are confident in, you know will put you in the minority of winners and give you success.
Keep in mind 95% of traders lose so it's not a walk in the park.
For those traders prepared to work at the basics and learn the right forex education and apply there knowledge with discipline the potential rewards are awesome.
Sure you have to work at your forex trading strategy but for the work you put in you could be rewarded with a great second or even life changing income and that has got to be worth the effort.
by Samuel Lesley Berkovits
If you can't get this question right, you will never win at forex trading and are destined to join the 99% of losers - get it right however and you could be on the road to forex trading success.
Here it is
What is your trading edge defined which will enable you to win?
A Trading Edge is NOT THE Following
Now most people mistake what a trading edge is and it's not any of the ones listed below and most traders believe them, so if you agree with the statements below you will lose:
- I am going to try day trading and scalping to make money
- I am going to follow a robot hey it only has a simulated back tested track record but that's no problem
- I am going to trade breaking news stories
- I am clever and work hard that will bring me success
- I am going to predict prices in advance
- I believe in the scientific theory of market movement
- I don't worry about money management that's just placing a stop
- Complicated systems are best as knowledge is power
All the above if you believe them will see you lose and are common statements by novice traders but there not a trading edge and anyone believing the above can kiss goodbye to their equity.
Forex Success and an Edge Is Built on This.
Working at the basics and working smart, you are not given success so forget all the junk forex robots and day trading courses that tell you that you can win - you can't. Most robots have never even been traded in real time and day trading by its nature doesn't work.
Neither do scientific approaches, as the markets are obviously not scientific, if they were we would all know the price in advance and there would be no market!
Stop hoping someone will give you success and base your forex trading strategy on the following key points. They can lead you to a trading edge and currency trading success.
- Get a simple forex trading system, based around trading the odds
- Have confidence in it by learning it
- This will enable you to trade it with discipline for long term success
- By learningforex yourself you will have an edge you are confident in
By learning yourself you will get a trading edge you are confident in, you know will put you in the minority of winners and give you success.
Keep in mind 95% of traders lose so it's not a walk in the park.
For those traders prepared to work at the basics and learn the right forex education and apply there knowledge with discipline the potential rewards are awesome.
Sure you have to work at your forex trading strategy but for the work you put in you could be rewarded with a great second or even life changing income and that has got to be worth the effort.
Forex Success - These Novices Made Millions After 2 Weeks Education How?
Forex Success - These Novices Made Millions After 2 Weeks Education How?
by Samuel Lesley Berkovits
A famous novice group of traders who had never traded before, studied for 14 days and then went on to make $100 million in just 4 years and you can learn much by making their story part of your essential forex education...
The group were taught by Richard Dennis a successful trader in the 1980s and he had the following aim in mind:
He wanted to prove that anyone could learn to trade forex with the right education and right mindset.
He set about his task and the group was diverse, of all ages male and female and of varying levels of academic achievement. The group consisted of a female accountant, an actor, a couple of card players, a kid out of school and a security guard so a diverse mix.
He then taught them to trade in 14 days and then gave them trading accounts. They rewarded him with $100 million in profits in 4 years and went down in trading history.
This group was nicknamed the turtles and you should read their story - not only is it inspiring as it shows anyone can trade successfully but it gives you an insight into what is needed to become a successful trader.
You need a simple system and Dennis essentially taught them a trend following breakout method.
The real point to master for any trader (and is the reason why 95% of traders lose) is you must have the discipline to follow your system and this means knowing it from the ground up.
Dennis taught them the system, how and why it worked, so they could have confidence in it and the discipline to follow it.
Discipline is the key and most traders are naïve and don't think its important - but it is, when you have to sit with your trading system through losing periods, as the market makes you look a fool.
You need the discipline to stay on course. If you don't have the discipline to follow your trading system - you don't have one!
Read more about the turtles and you will see it wasn't the method that made them successful, it was the mindset and money management they employed.
It's inspiring too, as it teaches you the opportunity to become a trading millionaire is open to all and even if you don't do as well as them, you can achieve currency trading success.
by Samuel Lesley Berkovits
A famous novice group of traders who had never traded before, studied for 14 days and then went on to make $100 million in just 4 years and you can learn much by making their story part of your essential forex education...
The group were taught by Richard Dennis a successful trader in the 1980s and he had the following aim in mind:
He wanted to prove that anyone could learn to trade forex with the right education and right mindset.
He set about his task and the group was diverse, of all ages male and female and of varying levels of academic achievement. The group consisted of a female accountant, an actor, a couple of card players, a kid out of school and a security guard so a diverse mix.
He then taught them to trade in 14 days and then gave them trading accounts. They rewarded him with $100 million in profits in 4 years and went down in trading history.
This group was nicknamed the turtles and you should read their story - not only is it inspiring as it shows anyone can trade successfully but it gives you an insight into what is needed to become a successful trader.
You need a simple system and Dennis essentially taught them a trend following breakout method.
The real point to master for any trader (and is the reason why 95% of traders lose) is you must have the discipline to follow your system and this means knowing it from the ground up.
Dennis taught them the system, how and why it worked, so they could have confidence in it and the discipline to follow it.
Discipline is the key and most traders are naïve and don't think its important - but it is, when you have to sit with your trading system through losing periods, as the market makes you look a fool.
You need the discipline to stay on course. If you don't have the discipline to follow your trading system - you don't have one!
Read more about the turtles and you will see it wasn't the method that made them successful, it was the mindset and money management they employed.
It's inspiring too, as it teaches you the opportunity to become a trading millionaire is open to all and even if you don't do as well as them, you can achieve currency trading success.
Forex Robots - the Myth Financial Freedom the Reality Losses
Forex Robots - the Myth Financial Freedom the Reality Losses
by Sonia Kristina
If you are looking at trading a forex robot, then you need to be careful as the myth of a life of luxury and wealth for a hundred dollars outlay is rubbish. The reality is losses here's why.
They all have great names that indicate how they take on the forex market and they produce great track records and you think hey! That's great I should be able to make that!
The reality of course is the track record of profits is nothing of the sort it's a computer back test knowing the data, well that's hard.
So they haven't made any money which is not exactly a recommendation to use one but you do get lots of people on the online telling you can get rich and how they are to and then of course, you follow the link and what a surprise there selling it and making a commission.
Now there is nothing wrong with that at all but some of the stories are just ludicrous and these are some of the reasons I have seen to buy them.
- Trade the market with 90% accuracy!
Really well the banks and brokers better sack there dealers as these robots could take over, not even the best traders I know trade with this figure its fantasy not reality.
- Its Designed by a Whiz Kid Banker etc
Why is this good, or an advantage? It doesn't mean the robot will win and most of the time the mysterious developer is never really outlined.
- Make money on $100.00
Another dumb idea. With leverage and such a small sum unless you are luckier than I have ever been in my life you won't get anywhere with that volatility will take your money quiickly.
- You don't Need to Know what your Doing or anything about forex
Of course you do and if you did, you wouldn't buy a robot with a simulated track record.
- You Can Trade it in a Demo Account
Often see this gem trade it for a week or two, well any trader knows that's a waste of time in evaluating a trading program. You need a two year period as a minimum, if you have the patience to do it - but forget a week or so means nothing.
- You Get a Money Back Guarantee
Big deal it would be better if you got a money back guarantee on your losses.
Know the myth of the whole world buying these software packages and packing in the day job is not going to happen neither are banks brokers and investment houses going to sack there dealing teams, even though the robots simulated track record is great.
The reality is these systems are sold with slick marketing and no substance, for example the basics of any proof they can deliver automatic profits, which they advertise.
Steer clear of them and get the right forex education and win. Sure you have to work but you do in any area of life but forex for the effort you have to put in will give you the opportunity to earn a great second or even life changing income.
by Sonia Kristina
If you are looking at trading a forex robot, then you need to be careful as the myth of a life of luxury and wealth for a hundred dollars outlay is rubbish. The reality is losses here's why.
They all have great names that indicate how they take on the forex market and they produce great track records and you think hey! That's great I should be able to make that!
The reality of course is the track record of profits is nothing of the sort it's a computer back test knowing the data, well that's hard.
So they haven't made any money which is not exactly a recommendation to use one but you do get lots of people on the online telling you can get rich and how they are to and then of course, you follow the link and what a surprise there selling it and making a commission.
Now there is nothing wrong with that at all but some of the stories are just ludicrous and these are some of the reasons I have seen to buy them.
- Trade the market with 90% accuracy!
Really well the banks and brokers better sack there dealers as these robots could take over, not even the best traders I know trade with this figure its fantasy not reality.
- Its Designed by a Whiz Kid Banker etc
Why is this good, or an advantage? It doesn't mean the robot will win and most of the time the mysterious developer is never really outlined.
- Make money on $100.00
Another dumb idea. With leverage and such a small sum unless you are luckier than I have ever been in my life you won't get anywhere with that volatility will take your money quiickly.
- You don't Need to Know what your Doing or anything about forex
Of course you do and if you did, you wouldn't buy a robot with a simulated track record.
- You Can Trade it in a Demo Account
Often see this gem trade it for a week or two, well any trader knows that's a waste of time in evaluating a trading program. You need a two year period as a minimum, if you have the patience to do it - but forget a week or so means nothing.
- You Get a Money Back Guarantee
Big deal it would be better if you got a money back guarantee on your losses.
Know the myth of the whole world buying these software packages and packing in the day job is not going to happen neither are banks brokers and investment houses going to sack there dealing teams, even though the robots simulated track record is great.
The reality is these systems are sold with slick marketing and no substance, for example the basics of any proof they can deliver automatic profits, which they advertise.
Steer clear of them and get the right forex education and win. Sure you have to work but you do in any area of life but forex for the effort you have to put in will give you the opportunity to earn a great second or even life changing income.
Professional Forex Trading - 4 Steps to Trading Like a Pro and Winning
Professional Forex Trading - 4 Steps to Trading Like a Pro and Winning
by kelly Price
Anyone can learn currency trading, yet most traders lose this isn't because they can't win they just don't work at the right areas and here we will show you what to do in simple steps to enjoy currency trading success...
If you want proof of the fact anyone can learn to trade then you should read the story of "the turtles"
This group taught by trading legend Richard Dennis, had no experience yet within 14 days were on their way to making hundreds of millions.
Ok you may not get as rich as them - but it shows the potential. You can turn yourself into a forex pro in 14 days and then be piling up profits, in just 30 minutes a day or less.
Step 1 Take Charge
As on all areas of life you need to take charge of your financial destiny and don't fall for a mentor, guru or robot will make you rich they won't. You're on your own.
Now you need to learn the right information and get your forex strategy formulated.
If you have a burning desire to succeed and are prepared to work hard, you're on your way.
Step 2 Your Forex Trading System
The best systems are simple and yours should be to.
If it's simple it will be more robust with fewer elements to break than a complicated one. If you can base on long term trend following and breakout methodology, this is a timeless way to make profits and can be executed in under 30 minutes a day. Look up our other articles to learn more.
Step 3 Money Management
Forget about clever methods or market timing being the key to success it's not its money management.
To win you have to play great defence first. As one famous trader said "if you take of the losses the profits will look after themselves" and remember to win, you need to bet and you can't bet if you have no chips! Ok ,it's a poker saying but applies to forex trading.
Step 4 Patience and Discipline
This is the key to success.
You can have the most successful method but unless you can apply it with patience and discipline, through losing periods and until you hit a home run, you will never win.
This sounds easy - but most traders cant keep going through a losing period, its hard when the market is taking your money and making you look a fool - but to win in forex trading you have to lose, its part of winning.
If you have a robust method and a disciplined mindset and stay on course you can make big profits.
Professional forex trading is all about working smart, getting the right knowledge, building a simple strategy and then applying it for success. Anyone can do it and if you want to you can and take charge of your financial destiny and get on the road to success.
by kelly Price
Anyone can learn currency trading, yet most traders lose this isn't because they can't win they just don't work at the right areas and here we will show you what to do in simple steps to enjoy currency trading success...
If you want proof of the fact anyone can learn to trade then you should read the story of "the turtles"
This group taught by trading legend Richard Dennis, had no experience yet within 14 days were on their way to making hundreds of millions.
Ok you may not get as rich as them - but it shows the potential. You can turn yourself into a forex pro in 14 days and then be piling up profits, in just 30 minutes a day or less.
Step 1 Take Charge
As on all areas of life you need to take charge of your financial destiny and don't fall for a mentor, guru or robot will make you rich they won't. You're on your own.
Now you need to learn the right information and get your forex strategy formulated.
If you have a burning desire to succeed and are prepared to work hard, you're on your way.
Step 2 Your Forex Trading System
The best systems are simple and yours should be to.
If it's simple it will be more robust with fewer elements to break than a complicated one. If you can base on long term trend following and breakout methodology, this is a timeless way to make profits and can be executed in under 30 minutes a day. Look up our other articles to learn more.
Step 3 Money Management
Forget about clever methods or market timing being the key to success it's not its money management.
To win you have to play great defence first. As one famous trader said "if you take of the losses the profits will look after themselves" and remember to win, you need to bet and you can't bet if you have no chips! Ok ,it's a poker saying but applies to forex trading.
Step 4 Patience and Discipline
This is the key to success.
You can have the most successful method but unless you can apply it with patience and discipline, through losing periods and until you hit a home run, you will never win.
This sounds easy - but most traders cant keep going through a losing period, its hard when the market is taking your money and making you look a fool - but to win in forex trading you have to lose, its part of winning.
If you have a robust method and a disciplined mindset and stay on course you can make big profits.
Professional forex trading is all about working smart, getting the right knowledge, building a simple strategy and then applying it for success. Anyone can do it and if you want to you can and take charge of your financial destiny and get on the road to success.
Forex Killer - Software to automated trading
Forex Killer - Software to automated trading
by Jakob Eskena
Talk to anybody about financial freedom and in all likelihood you'll get dreamy answers about something that might happen sometimes in the future. Of course, such response very much depends on the age of the person you talk to. The younger the person, the more likely he/she will be reasonably convinced that such a feast will indeed happen to them. For older folks though, it is safe to assume that for the most part, this optimism is not likely to be shared. Like everything else in life, it is a question of perspective; and expectation. Financial freedom? Is it even achievable in these uncertain times?
It is in Foreign Exchange, also called Forex. Now a quick look into this market and one realized the staggering amount of money that changes hands on a daily basis. But just because it is a huge sum, does it mean that you and I can get a share of it?
One person who says we can is the author of revolutionary software called Forex Killer. It does have an interesting name, but it is anything but cute! Developed by a mathematics professor, behavioral psychologist and an experienced Forex trader, this is a product that can help you make a "killing" in the Forex market.
By using this product, many ordinary folks that have no prior knowledge in the Forex market have experienced 2000% ROI easily. Oh, if you think that you would need to have huge capital to use this Forex Killer, read on to find out how little you need!
Now folks, one of the greatest things about Forex is the ability to use leverage to make money. This enables you to make tidy profits at much reduced risk. The rule of thumb in Forex is a leverage of 200 to 1. This means that with a capital of $500, you would be able to buy and sell $100.000 worth of currencies.
If you set for yourself an earning margin of 10% for this $100 000 worth of trading, which is not difficult to attain, it would already be $10 000, which is 2000% ROI based on your $500 capital!
At this moment, you would think that this scenario would only be possible for seasoned traders, and you would not have any hope in earning this amount of money.
It used to be the case, but with Forex Killer, many ordinary folks, with no prior knowledge of trading have all enjoyed great returns from the Forex market! Testimonial abounds in this regards but a word of caution as always is warranted. Forex Killer, in spite of its awesome power does require that you get your hands "dirty". In other words, don't expect that because it is an automated software that is proven to be highly effective in making money, doesn't mean that it won't require any form or dedication on your part. After all using Forex Killer is a tool you use for your business and just like any other business, success doesn't happen by miracle. Forex Killer will help you achieve financial freedom if you are willing to give it a proper go.
Other than the ability to use leverage in the Forex market, Forex is a big market with daily trades of up to 2 trillion dollars, Forex Killer users are indeed making thousands of dollars from it? The potential is huge.
It is also a market where you don't pay commissions, clearing fees, exchange fees, government fees and even brokerage fees. The cost is low.
There you have it folks, a market with huge potential, low cost and low capital together with a product like Forex Killer to assist you, how difficult can your progress to financial freedom be?
by Jakob Eskena
Talk to anybody about financial freedom and in all likelihood you'll get dreamy answers about something that might happen sometimes in the future. Of course, such response very much depends on the age of the person you talk to. The younger the person, the more likely he/she will be reasonably convinced that such a feast will indeed happen to them. For older folks though, it is safe to assume that for the most part, this optimism is not likely to be shared. Like everything else in life, it is a question of perspective; and expectation. Financial freedom? Is it even achievable in these uncertain times?
It is in Foreign Exchange, also called Forex. Now a quick look into this market and one realized the staggering amount of money that changes hands on a daily basis. But just because it is a huge sum, does it mean that you and I can get a share of it?
One person who says we can is the author of revolutionary software called Forex Killer. It does have an interesting name, but it is anything but cute! Developed by a mathematics professor, behavioral psychologist and an experienced Forex trader, this is a product that can help you make a "killing" in the Forex market.
By using this product, many ordinary folks that have no prior knowledge in the Forex market have experienced 2000% ROI easily. Oh, if you think that you would need to have huge capital to use this Forex Killer, read on to find out how little you need!
Now folks, one of the greatest things about Forex is the ability to use leverage to make money. This enables you to make tidy profits at much reduced risk. The rule of thumb in Forex is a leverage of 200 to 1. This means that with a capital of $500, you would be able to buy and sell $100.000 worth of currencies.
If you set for yourself an earning margin of 10% for this $100 000 worth of trading, which is not difficult to attain, it would already be $10 000, which is 2000% ROI based on your $500 capital!
At this moment, you would think that this scenario would only be possible for seasoned traders, and you would not have any hope in earning this amount of money.
It used to be the case, but with Forex Killer, many ordinary folks, with no prior knowledge of trading have all enjoyed great returns from the Forex market! Testimonial abounds in this regards but a word of caution as always is warranted. Forex Killer, in spite of its awesome power does require that you get your hands "dirty". In other words, don't expect that because it is an automated software that is proven to be highly effective in making money, doesn't mean that it won't require any form or dedication on your part. After all using Forex Killer is a tool you use for your business and just like any other business, success doesn't happen by miracle. Forex Killer will help you achieve financial freedom if you are willing to give it a proper go.
Other than the ability to use leverage in the Forex market, Forex is a big market with daily trades of up to 2 trillion dollars, Forex Killer users are indeed making thousands of dollars from it? The potential is huge.
It is also a market where you don't pay commissions, clearing fees, exchange fees, government fees and even brokerage fees. The cost is low.
There you have it folks, a market with huge potential, low cost and low capital together with a product like Forex Killer to assist you, how difficult can your progress to financial freedom be?
วันพฤหัสบดีที่ 10 กรกฎาคม พ.ศ. 2551
Forex Brokers - Be Careful Many of There Services Help You Lose!
Forex Brokers - Be Careful Many of There Services Help You Lose!
by kelly Price
You have a choice of lots of good forex brokers but most traders don't really understand that many of the services they offer will see you destroy your account.
Let's make a couple of points clear about the majority of forex brokers:
They are market makers this means when you lose they win as they take your account on there book - there interest is in you losing to make money. Now is this a bad thing?
No not at all it's why they are able to offer you such a great service and the fact they win when you lose helps them provide a service.
Don't fall for the myth that brokers hunt stops and try and make you lose - brokers don't bother. They know that the trader will beat himself without any help from them, so they don't need to.
95% of trading accounts get wiped out and that ends up in the broker's pocket.
So they offer great services but most traders don't know what to expect from a broker and misuse them and fail and keep in mind the broker is playing the odds of most traders losing and if you cannot use the services they provide properly that's your fault.
Leverage
You can get up o 400:1 with most brokers today and that's great but high leverage in a novices hands soon leads to wipe out just because you get given bi leverage doesn't mean you have to use it all! 10 20:1 is enough for most traders especially novice ones.
Low Minimum
You can open an account with $50 online today and while this allows anyone to get involved trading $50.00 is pointless as you will get destroyed by random volatility and of course leverage if you use it. Sure anyone can trade but forex trading needs a capital base which can allow you to take a few losses so think in the 1 - 5,000 as a minimum and 10 - 20:1 leverage as the maximum you should use.
Forex trading is all about staying power you are going to lose at some point and have drawdown and you need to ride these periods out and you wont do that on 50 or 100 bucks. If that's all you have, forget forex trading.
Broker Trading Guides and Research
Most of the critical info provided in the guides is nothing of the sort its stuff you can get anywhere online. Do you really need to be told to cut losses and run profits or you must be disciplined? Research is normally news stories and obvious technical levels - if you want to lose follow there research!
Demo Account
A good idea on learning the basics of the trading platform waste of time in seeing if you can win at trading. Many traders are good in demo account and then blow their accounts up in real time. Real time trading involves pressure and without it you don't have an authentic trading experience.
When you get a broker keep in mind all you need to do is select them on the basis of pip spreads, ease and reliability of trading platform use and the security of your money and then all the services offered to you be careful of them as they are double edged sword.
Brokers don't make you lose, they provide you with the base to win and offer excellent services but make sure you understand them and use them correctly.
by kelly Price
You have a choice of lots of good forex brokers but most traders don't really understand that many of the services they offer will see you destroy your account.
Let's make a couple of points clear about the majority of forex brokers:
They are market makers this means when you lose they win as they take your account on there book - there interest is in you losing to make money. Now is this a bad thing?
No not at all it's why they are able to offer you such a great service and the fact they win when you lose helps them provide a service.
Don't fall for the myth that brokers hunt stops and try and make you lose - brokers don't bother. They know that the trader will beat himself without any help from them, so they don't need to.
95% of trading accounts get wiped out and that ends up in the broker's pocket.
So they offer great services but most traders don't know what to expect from a broker and misuse them and fail and keep in mind the broker is playing the odds of most traders losing and if you cannot use the services they provide properly that's your fault.
Leverage
You can get up o 400:1 with most brokers today and that's great but high leverage in a novices hands soon leads to wipe out just because you get given bi leverage doesn't mean you have to use it all! 10 20:1 is enough for most traders especially novice ones.
Low Minimum
You can open an account with $50 online today and while this allows anyone to get involved trading $50.00 is pointless as you will get destroyed by random volatility and of course leverage if you use it. Sure anyone can trade but forex trading needs a capital base which can allow you to take a few losses so think in the 1 - 5,000 as a minimum and 10 - 20:1 leverage as the maximum you should use.
Forex trading is all about staying power you are going to lose at some point and have drawdown and you need to ride these periods out and you wont do that on 50 or 100 bucks. If that's all you have, forget forex trading.
Broker Trading Guides and Research
Most of the critical info provided in the guides is nothing of the sort its stuff you can get anywhere online. Do you really need to be told to cut losses and run profits or you must be disciplined? Research is normally news stories and obvious technical levels - if you want to lose follow there research!
Demo Account
A good idea on learning the basics of the trading platform waste of time in seeing if you can win at trading. Many traders are good in demo account and then blow their accounts up in real time. Real time trading involves pressure and without it you don't have an authentic trading experience.
When you get a broker keep in mind all you need to do is select them on the basis of pip spreads, ease and reliability of trading platform use and the security of your money and then all the services offered to you be careful of them as they are double edged sword.
Brokers don't make you lose, they provide you with the base to win and offer excellent services but make sure you understand them and use them correctly.
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