Forex Traders: The Need to Be Objective
It is difficult for Forex traders to realize that the currency market is extremely unpredictable. As new traders spend a long time trying to learn the mechanics of the foreign exchange trade and focus their time and energy on trying to find a method for predicting movements, they naturally expect there to be rules governing the movement of the market. This not being the case, many traders find themselves at a disadvantage.
While Forex traders have a number of tools at their disposal, which allow them to judge the right time to open or close a position, many prefer to rely mostly on one tool. So, having opened a position, they watch their favorite indicator and, to a large extent, base their trading decisions solely on it, ignoring the others.
This works well enough until that indicator starts telling them something different from what the others are. Traders caught in a open position which their favorite tool is telling them to hold, will often do so, despite the fact that other tools are telling them to close and get off the market, and end up losing money.
The basic problem, of course, is that the trader is not looking at the market as is, but through the lenses of his own expectations about it and further using his favorite indicator to reinforce those ideas instead of looking at the bigger picture. And, encouraged by the fact that his chosen indicator is forecasting the profit he wants, the trader is focusing more on money than on the market.
If the Forex market was not unpredictable, it would collapse because all traders would profit all the time. There are many tools that can help traders predict the direction of the market and they usually do an efficient job. But even in the hands of the most experienced traders, the best tools occasionally fail to predict the market's movements correctly.
Losing in trade because of predicting the market wrongly is an innate part of Forex trading and traders need to accept it. Besides, they need to learn to avoid getting in a position where they do not have many choices.
For this, the trader needs to accept the fact that the foreign exchange market pretty much has a mind of its own and the traders have to follow its movements instead of trying to make it go in the direction they want it to.
แสดงบทความที่มีป้ายกำกับ Forex Traders แสดงบทความทั้งหมด
แสดงบทความที่มีป้ายกำกับ Forex Traders แสดงบทความทั้งหมด
วันอังคารที่ 10 มีนาคม พ.ศ. 2552
วันพฤหัสบดีที่ 15 มกราคม พ.ศ. 2552
Essential Training For Forex Traders
Essential Training For Forex Traders
In the world's better banking bazaar area exchanges ability up to trillions of dollars anniversary day, abounding humans would absolutely wish to participate in this market. Aside from accepting the better banking bazaar in the world, Forex is aswell the a lot of aqueous bazaar in the apple area trades are done 24 hours a day.
A lot of traders accept become absolute affluent trading in the Forex market. And, abounding humans who barter in the Forex bazaar accustomed accept begin a abundant way to alter their day jobs. Some even became millionaires about brief by just trading in this banking market.
Trading in the Forex bazaar can be absolute attractive. However, you should aswell apperceive that there accept been humans who suffered acute banking losses in the Forex market. It is accurate that the Forex bazaar offers a absolute acceptable exploited befalling to a lot of people, but it aswell has its risks.
It is a actuality that humans who didn't accept the appropriate ability and abilities trading in the Forex bazaar suffered huge banking losses and some even went into debt. So, afore you access the Forex market, it is capital that you should accept the all-important ability and abilities as a Forex banker in adjustment to abbreviate the accident of accident money and aerate the abeyant of authoritative money.
Many humans who were acknowledged in the Forex bazaar accept went through a Forex trading advance to get the ability and abilities bare to auspiciously barter in this absolute aqueous and absolute ample banking market.
In a Forex trading course, you will amateur about if it is the appropriate time to buy or sell, blueprint the movements, atom bazaar trends and aswell apperceive how to use the altered trading platforms accessible in the Forex market.
You will aswell be acclimatized with the terminologies acclimated in the Forex market. Even the basal ability about trading in the Forex bazaar can be a abundant advice with your exploited adventure in the world's better market.
There are altered Forex trading courses available, all you charge to do is accept one that apparel your needs as a trader. There are blast courses area all the basal things about Forex will be accomplished to you in a abbreviate aeon of time, abounding time online courses, area you will amateur all about Forex through the internet and there are aswell abounding time absolute activity classroom courses area you can amateur the ropes about Forex in a absolute classroom with a reside professor.
You can aswell become an apprentice. However, in adjustment to amateur a lot about Forex as an apprentice, you charge to accomplish abiding that you accept a acclimatized Forex banker who can allotment a lot of things to you about the Forex market.
Here are some of the basal things you should attending for in a Forex trading advance in adjustment for you to get the acceptable ability about Forex trading:
•Margins
•Leveraging
•Types of orders
•Major currencies
A acceptable Forex trading advance will aswell explain a lot about the axiological and abstruse assay of charts. As a trader, alive how to assay a blueprint is an capital accomplishment that you should have. So, if you are searching for a Forex trading course, you should attending for a advance that offers axiological and abstruse assay instruction.
Stress plays a basic allotment in Forex traders. Alive how to accord with accent is aswell a accomplishment that you should develop. A acceptable Forex trading advance should advise you how to accord with accent and barter finer and efficiently.
As abundant as possible, you should attending for a Forex trading advance that action absolute trading systems area acceptance can barter absolute money on the Forex bazaar or at atomic barter on copy accounts in a apish Forex market. This hands-on acquaintance will abundantly account you. Besides, the best way to amateur about annihilation is by in fact experiencing it. Reside trading and simulations should be offered in a Forex trading course.
So, if you plan on accepting complex in the Forex market, accede award all these things in a Forex trading course. Developing the appropriate ability and abilities in trading in the world's better and a lot of aqueous bazaar in the apple will absolutely advice you accomplish it to the top and accomplish your dreams as a Forex trader.
In the world's better banking bazaar area exchanges ability up to trillions of dollars anniversary day, abounding humans would absolutely wish to participate in this market. Aside from accepting the better banking bazaar in the world, Forex is aswell the a lot of aqueous bazaar in the apple area trades are done 24 hours a day.
A lot of traders accept become absolute affluent trading in the Forex market. And, abounding humans who barter in the Forex bazaar accustomed accept begin a abundant way to alter their day jobs. Some even became millionaires about brief by just trading in this banking market.
Trading in the Forex bazaar can be absolute attractive. However, you should aswell apperceive that there accept been humans who suffered acute banking losses in the Forex market. It is accurate that the Forex bazaar offers a absolute acceptable exploited befalling to a lot of people, but it aswell has its risks.
It is a actuality that humans who didn't accept the appropriate ability and abilities trading in the Forex bazaar suffered huge banking losses and some even went into debt. So, afore you access the Forex market, it is capital that you should accept the all-important ability and abilities as a Forex banker in adjustment to abbreviate the accident of accident money and aerate the abeyant of authoritative money.
Many humans who were acknowledged in the Forex bazaar accept went through a Forex trading advance to get the ability and abilities bare to auspiciously barter in this absolute aqueous and absolute ample banking market.
In a Forex trading course, you will amateur about if it is the appropriate time to buy or sell, blueprint the movements, atom bazaar trends and aswell apperceive how to use the altered trading platforms accessible in the Forex market.
You will aswell be acclimatized with the terminologies acclimated in the Forex market. Even the basal ability about trading in the Forex bazaar can be a abundant advice with your exploited adventure in the world's better market.
There are altered Forex trading courses available, all you charge to do is accept one that apparel your needs as a trader. There are blast courses area all the basal things about Forex will be accomplished to you in a abbreviate aeon of time, abounding time online courses, area you will amateur all about Forex through the internet and there are aswell abounding time absolute activity classroom courses area you can amateur the ropes about Forex in a absolute classroom with a reside professor.
You can aswell become an apprentice. However, in adjustment to amateur a lot about Forex as an apprentice, you charge to accomplish abiding that you accept a acclimatized Forex banker who can allotment a lot of things to you about the Forex market.
Here are some of the basal things you should attending for in a Forex trading advance in adjustment for you to get the acceptable ability about Forex trading:
•Margins
•Leveraging
•Types of orders
•Major currencies
A acceptable Forex trading advance will aswell explain a lot about the axiological and abstruse assay of charts. As a trader, alive how to assay a blueprint is an capital accomplishment that you should have. So, if you are searching for a Forex trading course, you should attending for a advance that offers axiological and abstruse assay instruction.
Stress plays a basic allotment in Forex traders. Alive how to accord with accent is aswell a accomplishment that you should develop. A acceptable Forex trading advance should advise you how to accord with accent and barter finer and efficiently.
As abundant as possible, you should attending for a Forex trading advance that action absolute trading systems area acceptance can barter absolute money on the Forex bazaar or at atomic barter on copy accounts in a apish Forex market. This hands-on acquaintance will abundantly account you. Besides, the best way to amateur about annihilation is by in fact experiencing it. Reside trading and simulations should be offered in a Forex trading course.
So, if you plan on accepting complex in the Forex market, accede award all these things in a Forex trading course. Developing the appropriate ability and abilities in trading in the world's better and a lot of aqueous bazaar in the apple will absolutely advice you accomplish it to the top and accomplish your dreams as a Forex trader.
วันอังคารที่ 22 กรกฎาคม พ.ศ. 2551
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.
วันอาทิตย์ที่ 6 กรกฎาคม พ.ศ. 2551
Forex Traders: Are you looking into Automated Systems?
Forex Traders: Are you looking into Automated Systems?
by sas_trade
Being in the forex game, I wanted to get an edge and masterfully own every single pip I could possibly get my hand on. Being also that the learning curve was quite opulent and sometimes wasn't really in my favor, I needed an alternative to the hours of technical analysis and research on news and historical data.
I was pressed to find a solution that would let me be able to make trades without the aggravation of the fore mentioned. I looked into using EMA crosses, and news trading, and a couple of other crazy things, only to lose more money and turn more hairs to grey over it.
One day I found the Expert Advisor. What an Expert Advisor is, is an automated trading system, ported to Metatrader 4's Trading Platform. The dealbreaker here, is that you need an account with a forex broker, which supports Metatrader 4. There are at least a few dozen forex brokers who use Metatrader, and a couple of them should fit your trading requirements like a glove.
Why should you consider looking into an expert advisor? Easy!
1. They trade while you sleep, and never need rest at all. It is a software module that works with Metatrader 4, and never crashes!
2. They never need a salary, bathroom breaks, sleep, food, benefits, or anything else that a human trader would need.
3. They are very easy to download, install into Metatrader 4, turn on, and throw them to the wolves to start making money! This process from purchase to operation takes not even 10 minutes.
4. 60 Day Money Back Guarantee. Most Expert Advisors have satisfaction guarantees, just in case you are not satisfied with the results that the Expert Advisor provides, or just have a problem with the system.
5. Have a life, be with family or friends. Make the real money and not work a 9-5! You think it is easier said than done, but seriously, the reality is, when you can make a sustainable, survivable income from Forex, you would fire your boss!
6. One I could recommend off of the bat, is Forex Funnel. This Forex Automated Trading System has generated a great work at home income, and has documented proof as well! A system that has made $600,000 in four years time, and $150,000 in one years time.
You owe it to yourself! Try the Forex Funnel Today!!!
by sas_trade
Being in the forex game, I wanted to get an edge and masterfully own every single pip I could possibly get my hand on. Being also that the learning curve was quite opulent and sometimes wasn't really in my favor, I needed an alternative to the hours of technical analysis and research on news and historical data.
I was pressed to find a solution that would let me be able to make trades without the aggravation of the fore mentioned. I looked into using EMA crosses, and news trading, and a couple of other crazy things, only to lose more money and turn more hairs to grey over it.
One day I found the Expert Advisor. What an Expert Advisor is, is an automated trading system, ported to Metatrader 4's Trading Platform. The dealbreaker here, is that you need an account with a forex broker, which supports Metatrader 4. There are at least a few dozen forex brokers who use Metatrader, and a couple of them should fit your trading requirements like a glove.
Why should you consider looking into an expert advisor? Easy!
1. They trade while you sleep, and never need rest at all. It is a software module that works with Metatrader 4, and never crashes!
2. They never need a salary, bathroom breaks, sleep, food, benefits, or anything else that a human trader would need.
3. They are very easy to download, install into Metatrader 4, turn on, and throw them to the wolves to start making money! This process from purchase to operation takes not even 10 minutes.
4. 60 Day Money Back Guarantee. Most Expert Advisors have satisfaction guarantees, just in case you are not satisfied with the results that the Expert Advisor provides, or just have a problem with the system.
5. Have a life, be with family or friends. Make the real money and not work a 9-5! You think it is easier said than done, but seriously, the reality is, when you can make a sustainable, survivable income from Forex, you would fire your boss!
6. One I could recommend off of the bat, is Forex Funnel. This Forex Automated Trading System has generated a great work at home income, and has documented proof as well! A system that has made $600,000 in four years time, and $150,000 in one years time.
You owe it to yourself! Try the Forex Funnel Today!!!
วันอาทิตย์ที่ 22 มิถุนายน พ.ศ. 2551
Safe Advice For Forex Traders
Safe Advice For Forex Traders
by Tyler Ziggler
I'm going to share with you some safe advice for forex trading. You'll probably notice that everyone has an opinion out there, and it really comes down to you throwing your money out there to see if it works. It doesn't have to be that way, so I thought I'd share a little.
* Demo First, Money Second: I've heard new amazing strategies that are supposed to be a revolution in new profitable forex trading, only to find myself losing money, yet again. Your demo account may not be the best thing, but it can at least give you a second look at a strategy without having to invest your money. If it is free to test out, than there really isn't much to lose. I always try out new strategies on the demo because if you found it on the internet, you probably don't know who gave it. For all you know they could be some teenager, living in their parents basement that never traded forex in their life. Protect yourself and use the demo account first.
* News: The news has an abundance of information that will inevitably effect the market. The problem I used to have is that I'd get involved in a trade, the news would release some announcement and the whole trade was ruined because of it. Anything that is related to the economy will have an effect on currency prices. This type of news is typically announced at specific times in the morning and there is usually something being released everyday. I suggest you start watching CNBC or any other business channel to make sure you know what is going on.
by Tyler Ziggler
I'm going to share with you some safe advice for forex trading. You'll probably notice that everyone has an opinion out there, and it really comes down to you throwing your money out there to see if it works. It doesn't have to be that way, so I thought I'd share a little.
* Demo First, Money Second: I've heard new amazing strategies that are supposed to be a revolution in new profitable forex trading, only to find myself losing money, yet again. Your demo account may not be the best thing, but it can at least give you a second look at a strategy without having to invest your money. If it is free to test out, than there really isn't much to lose. I always try out new strategies on the demo because if you found it on the internet, you probably don't know who gave it. For all you know they could be some teenager, living in their parents basement that never traded forex in their life. Protect yourself and use the demo account first.
* News: The news has an abundance of information that will inevitably effect the market. The problem I used to have is that I'd get involved in a trade, the news would release some announcement and the whole trade was ruined because of it. Anything that is related to the economy will have an effect on currency prices. This type of news is typically announced at specific times in the morning and there is usually something being released everyday. I suggest you start watching CNBC or any other business channel to make sure you know what is going on.
วันอาทิตย์ที่ 10 กุมภาพันธ์ พ.ศ. 2551
Forex Traders - What's Your Timeframe?
Forex Traders - What's Your Timeframe?
by Harold Hsu
Have you ever asked yourself what kind of trader you want to be? If you haven't, it's important that you take your time to decide which timeframe you're most comfortable with trading in. Yes: the timeframe you like to trade in will determine the type of trader you'll be. Here are 4 of the most popular types of traders: scalper, day trader, swing trader or position trader. Let's go into a little more detail about them in this article.
Are You A Scalper?
Scalpers trade in very short time frames using minute charts and sometimes hourly charts. They look for small profits of about 5 to 15 pips in each trade that they take. As such, scalpers typically enter into more than one or two trades a day. They are constantly entering and exiting their trade positions in search of every small opportunity for a profit. A scalping trade can be over in as short as 20 minutes.
Are You A Day Trader?
Like scalpers, day traders typically use minute and hourly charts to trade with. Also similarly with scalpers, day traders don't hold any of their trade positions overnight. They always exit their trades by the end of each trading day.
However unlike scalpers, day traders usually hold their trade positions for at least few hours. As a result, their gains and losses are also larger than that of scalpers per trade.
Are You A Swing Trader?
Swing traders trade in intermediate timeframes that can last from a few days to a few weeks. They look to ride along an entire up- or down-swing in order to profit the most out of each major price fluctuation wave. As you can guess, they normally use hourly, daily and weekly charts to trade with.
Are You A Position Trader?
Position traders usually hold their positions for more than two weeks, and are typically fundamental traders. They aren't too interested in the everyday price fluctuations of the market, and prefer to look at the big picture of where a currency pair might be headed. They use mostly daily, weekly and monthly charts.
by Harold Hsu
Have you ever asked yourself what kind of trader you want to be? If you haven't, it's important that you take your time to decide which timeframe you're most comfortable with trading in. Yes: the timeframe you like to trade in will determine the type of trader you'll be. Here are 4 of the most popular types of traders: scalper, day trader, swing trader or position trader. Let's go into a little more detail about them in this article.
Are You A Scalper?
Scalpers trade in very short time frames using minute charts and sometimes hourly charts. They look for small profits of about 5 to 15 pips in each trade that they take. As such, scalpers typically enter into more than one or two trades a day. They are constantly entering and exiting their trade positions in search of every small opportunity for a profit. A scalping trade can be over in as short as 20 minutes.
Are You A Day Trader?
Like scalpers, day traders typically use minute and hourly charts to trade with. Also similarly with scalpers, day traders don't hold any of their trade positions overnight. They always exit their trades by the end of each trading day.
However unlike scalpers, day traders usually hold their trade positions for at least few hours. As a result, their gains and losses are also larger than that of scalpers per trade.
Are You A Swing Trader?
Swing traders trade in intermediate timeframes that can last from a few days to a few weeks. They look to ride along an entire up- or down-swing in order to profit the most out of each major price fluctuation wave. As you can guess, they normally use hourly, daily and weekly charts to trade with.
Are You A Position Trader?
Position traders usually hold their positions for more than two weeks, and are typically fundamental traders. They aren't too interested in the everyday price fluctuations of the market, and prefer to look at the big picture of where a currency pair might be headed. They use mostly daily, weekly and monthly charts.
วันศุกร์ที่ 25 มกราคม พ.ศ. 2551
Forex Traders: Taking Responsibility
Forex Traders: Taking Responsibility
by Harold Hsu
All good traders understand that every trading decision and action made, is his own responsibility. You'll never meet a successful trader who blames someone or something else for the consequences of his trading results.
You see, it's only when you begin to accept full responsibility for your results, that you'll rule out the convenient possibility of using excuses. After all, it's much easier to TALK about why it's not your fault when you make a losing trade. It's easier to say "hey, I didn't know there was an important economic announcement coming out tonight" rather than to go and check out the actual schedule of economic announcements for the week.
You can just blame bad luck, or even blame it on the weather. But whatever your "reasons" are, they're not going to help you trade better at all. Once you finally realize that the only way you'll make money in Forex trading is to look out for yourself, you'll never be a successful trader. I'm sorry for being so blunt, but it's the truth.
No one's going to fight your battles for you. The moment you realize that you are solely responsible for your trading results, you'll soon start looking into ways to improve it.
Let me ask you: Do you actively monitor your trades using some sort of trading journal or trading log? Do you spend time looking over failed trades and whether they could have been avoided?
If you answered "yes" to both questions, great! If you're not already a consistently profitable trader, you're going to be one soon enough.
But if you answered "no" to either question, you might want to think about how serious you are about Forex trading... there's no middle ground here: You either work hard at it and succeed, or you continue to give "reasons" for losing your trades.
by Harold Hsu
All good traders understand that every trading decision and action made, is his own responsibility. You'll never meet a successful trader who blames someone or something else for the consequences of his trading results.
You see, it's only when you begin to accept full responsibility for your results, that you'll rule out the convenient possibility of using excuses. After all, it's much easier to TALK about why it's not your fault when you make a losing trade. It's easier to say "hey, I didn't know there was an important economic announcement coming out tonight" rather than to go and check out the actual schedule of economic announcements for the week.
You can just blame bad luck, or even blame it on the weather. But whatever your "reasons" are, they're not going to help you trade better at all. Once you finally realize that the only way you'll make money in Forex trading is to look out for yourself, you'll never be a successful trader. I'm sorry for being so blunt, but it's the truth.
No one's going to fight your battles for you. The moment you realize that you are solely responsible for your trading results, you'll soon start looking into ways to improve it.
Let me ask you: Do you actively monitor your trades using some sort of trading journal or trading log? Do you spend time looking over failed trades and whether they could have been avoided?
If you answered "yes" to both questions, great! If you're not already a consistently profitable trader, you're going to be one soon enough.
But if you answered "no" to either question, you might want to think about how serious you are about Forex trading... there's no middle ground here: You either work hard at it and succeed, or you continue to give "reasons" for losing your trades.
Forex Traders: Taking Responsibility
Forex Traders: Taking Responsibility
by Harold Hsu
All good traders understand that every trading decision and action made, is his own responsibility. You'll never meet a successful trader who blames someone or something else for the consequences of his trading results.
You see, it's only when you begin to accept full responsibility for your results, that you'll rule out the convenient possibility of using excuses. After all, it's much easier to TALK about why it's not your fault when you make a losing trade. It's easier to say "hey, I didn't know there was an important economic announcement coming out tonight" rather than to go and check out the actual schedule of economic announcements for the week.
You can just blame bad luck, or even blame it on the weather. But whatever your "reasons" are, they're not going to help you trade better at all. Once you finally realize that the only way you'll make money in Forex trading is to look out for yourself, you'll never be a successful trader. I'm sorry for being so blunt, but it's the truth.
No one's going to fight your battles for you. The moment you realize that you are solely responsible for your trading results, you'll soon start looking into ways to improve it.
Let me ask you: Do you actively monitor your trades using some sort of trading journal or trading log? Do you spend time looking over failed trades and whether they could have been avoided?
If you answered "yes" to both questions, great! If you're not already a consistently profitable trader, you're going to be one soon enough.
But if you answered "no" to either question, you might want to think about how serious you are about Forex trading... there's no middle ground here: You either work hard at it and succeed, or you continue to give "reasons" for losing your trades.
by Harold Hsu
All good traders understand that every trading decision and action made, is his own responsibility. You'll never meet a successful trader who blames someone or something else for the consequences of his trading results.
You see, it's only when you begin to accept full responsibility for your results, that you'll rule out the convenient possibility of using excuses. After all, it's much easier to TALK about why it's not your fault when you make a losing trade. It's easier to say "hey, I didn't know there was an important economic announcement coming out tonight" rather than to go and check out the actual schedule of economic announcements for the week.
You can just blame bad luck, or even blame it on the weather. But whatever your "reasons" are, they're not going to help you trade better at all. Once you finally realize that the only way you'll make money in Forex trading is to look out for yourself, you'll never be a successful trader. I'm sorry for being so blunt, but it's the truth.
No one's going to fight your battles for you. The moment you realize that you are solely responsible for your trading results, you'll soon start looking into ways to improve it.
Let me ask you: Do you actively monitor your trades using some sort of trading journal or trading log? Do you spend time looking over failed trades and whether they could have been avoided?
If you answered "yes" to both questions, great! If you're not already a consistently profitable trader, you're going to be one soon enough.
But if you answered "no" to either question, you might want to think about how serious you are about Forex trading... there's no middle ground here: You either work hard at it and succeed, or you continue to give "reasons" for losing your trades.
วันพฤหัสบดีที่ 24 มกราคม พ.ศ. 2551
Forex Traders: For The Record
Forex Traders: For The Record
by Harold Hsu
Forex traders live from moment to moment. With today's advanced technology that gives us tick-by-tick live price feeds, we are constantly looking at the trading charts at all times of the day... and we start to become obsessed with every single price fluctuation.
In this climate of rapidly changing market prices, it's not easy to trade while keeping ourselves focused on the big picture. Unfortunately, focusing on the big picture is essential for sustained profitability as a trader.
And that's why it's important to keep some sort of record of all our trades. Some people call it a trading diary, but I personally prefer to call it a trade log. Call it whatever you wish... the idea is to take down your reasons for entering (and exiting) your trades, and to also note down your feelings during those trades.
Now, this idea may turn you off because of its sentimental connotations, but believe me, there's really nothing sentimental about a trade log at all. In fact, the opposite is preferred! You'll need to objectively list down the reasons for your trading actions, so that you can later analyze your trading decisions: "Did I do the right thing?", or "Why did I enter into this trade in the first place?"
These are often the questions we ask ourselves after a trade goes bad. Sometimes it's our fault because we ignored the rules of our trading system, and sometimes it's not our fault at all. The point is to understand whether your losing trades could have been avoided at all.
It's hard to admit it when we make a mistake, and it's the job of a trade log to inform you whether the loss could have been avoided.
by Harold Hsu
Forex traders live from moment to moment. With today's advanced technology that gives us tick-by-tick live price feeds, we are constantly looking at the trading charts at all times of the day... and we start to become obsessed with every single price fluctuation.
In this climate of rapidly changing market prices, it's not easy to trade while keeping ourselves focused on the big picture. Unfortunately, focusing on the big picture is essential for sustained profitability as a trader.
And that's why it's important to keep some sort of record of all our trades. Some people call it a trading diary, but I personally prefer to call it a trade log. Call it whatever you wish... the idea is to take down your reasons for entering (and exiting) your trades, and to also note down your feelings during those trades.
Now, this idea may turn you off because of its sentimental connotations, but believe me, there's really nothing sentimental about a trade log at all. In fact, the opposite is preferred! You'll need to objectively list down the reasons for your trading actions, so that you can later analyze your trading decisions: "Did I do the right thing?", or "Why did I enter into this trade in the first place?"
These are often the questions we ask ourselves after a trade goes bad. Sometimes it's our fault because we ignored the rules of our trading system, and sometimes it's not our fault at all. The point is to understand whether your losing trades could have been avoided at all.
It's hard to admit it when we make a mistake, and it's the job of a trade log to inform you whether the loss could have been avoided.
วันจันทร์ที่ 14 มกราคม พ.ศ. 2551
Why Forex Training Courses Yield Better Profits
Why Forex Training Courses Yield Better Profits
by Maria Sanchez
Are you interested in becoming an active trader in the world's largest financial market? If you are, you will be looking to trade the foreign exchange market, also commonly referred to as the forex. In recent years, since the late 1990's, brokerage firms have made it possible for "everyday" individuals, just like you, to make money with the exchange or the trading of foreign currencies. Although brokerage firms do provide you with needed assistance, it is advised that you know the ins and outs of the forex yourself. That is why it is advised that you take a forex training course. In fact, the successful completion of a forex training course is likely to yield better profits.
When it comes to forex training courses, there are a large number of wannabe forex traders who wonder if it is really necessary to undergo training. Yes, you could start trading the forex market right away, but, when doing so, you will be taking a large risk. Although the foreign exchange market has been profitable to many traders, there are also those who have lost their hard earned money. To help ensure that you profit from the forex market, not suffer a loss, you are advised to closely examine forex training courses to reap their benefits.
By taking a forex training course, you may not only learn how to successfully trade the forex market, but you may also learn more about it. While you might not assume that the history of the foreign exchange market is important, it is. Familiarizing yourself with the history of the foreign exchange market will not only better help you understand how the forex came about, but it will also give you a better appreciation for the market and the ability to exchange foreign currencies. After all, the ability to exchange foreign currencies is what enables you to yield a profit.
Forex training course come in a number of different formats. When examining available courses, you will see that there are forex training courses that are designed for beginners. Beginners are those who are essentially completely unfamiliar with the forex market and forex trading. If you have a small amount of experience with the forex market or knowledge of how to start trading, an intermediate forex training course may be your best option. There are also several advanced courses to help experienced traders refine their skills. Whatever level of knowledge or experience you have, you should be able to find a forex training course that can help you increase your knowledge and wealth
One of the many aspects of a forex training course that may help to yield better profits is live market lessons. Live market lessons are, perhaps, the most essential phase of an effective forex training course. Live market lessons involve studying the foreign exchange market in real-time. This real-time learning is ideal because is allows you to examine situations on the forex that may arise, should you later decide to trade it. Being able to examine the forex market in real-time is training at its best. You can read a forex training course book or watch a video a hundred times, but never walk away with the knowledge or firsthand experience that comes along with live market lessons. Participating in a forex training course that includes a live market lesson is the surest way to yield better profits.
Currently, there are hundreds, if not thousands, of forex training courses available for you to choose from. What you may not know is that many of these training courses are offered by brokerage firms; brokerage firms that are looking to acquire you as a client. While it is true that any forex training course is better than no forex training course, why not get yourself the best? When searching for a forex training course, you are advised to examine Fxcenter.com. Fxcenter.com takes pride in being pure educators, not brokers. For you, this means better training. You will receive the highest level of forex training possible, as the goal is to educate you on the forex market, not acquire you as a client.
In short, to yield better profits, you are urged to examine forex training courses, particular the courses offered by Fxcenter.com. Why start trading the forex without the proper training and experience, especially when it is so easy to find a forex training course that can not only prepare you for trading, but help you yield better profits.
by Maria Sanchez
Are you interested in becoming an active trader in the world's largest financial market? If you are, you will be looking to trade the foreign exchange market, also commonly referred to as the forex. In recent years, since the late 1990's, brokerage firms have made it possible for "everyday" individuals, just like you, to make money with the exchange or the trading of foreign currencies. Although brokerage firms do provide you with needed assistance, it is advised that you know the ins and outs of the forex yourself. That is why it is advised that you take a forex training course. In fact, the successful completion of a forex training course is likely to yield better profits.
When it comes to forex training courses, there are a large number of wannabe forex traders who wonder if it is really necessary to undergo training. Yes, you could start trading the forex market right away, but, when doing so, you will be taking a large risk. Although the foreign exchange market has been profitable to many traders, there are also those who have lost their hard earned money. To help ensure that you profit from the forex market, not suffer a loss, you are advised to closely examine forex training courses to reap their benefits.
By taking a forex training course, you may not only learn how to successfully trade the forex market, but you may also learn more about it. While you might not assume that the history of the foreign exchange market is important, it is. Familiarizing yourself with the history of the foreign exchange market will not only better help you understand how the forex came about, but it will also give you a better appreciation for the market and the ability to exchange foreign currencies. After all, the ability to exchange foreign currencies is what enables you to yield a profit.
Forex training course come in a number of different formats. When examining available courses, you will see that there are forex training courses that are designed for beginners. Beginners are those who are essentially completely unfamiliar with the forex market and forex trading. If you have a small amount of experience with the forex market or knowledge of how to start trading, an intermediate forex training course may be your best option. There are also several advanced courses to help experienced traders refine their skills. Whatever level of knowledge or experience you have, you should be able to find a forex training course that can help you increase your knowledge and wealth
One of the many aspects of a forex training course that may help to yield better profits is live market lessons. Live market lessons are, perhaps, the most essential phase of an effective forex training course. Live market lessons involve studying the foreign exchange market in real-time. This real-time learning is ideal because is allows you to examine situations on the forex that may arise, should you later decide to trade it. Being able to examine the forex market in real-time is training at its best. You can read a forex training course book or watch a video a hundred times, but never walk away with the knowledge or firsthand experience that comes along with live market lessons. Participating in a forex training course that includes a live market lesson is the surest way to yield better profits.
Currently, there are hundreds, if not thousands, of forex training courses available for you to choose from. What you may not know is that many of these training courses are offered by brokerage firms; brokerage firms that are looking to acquire you as a client. While it is true that any forex training course is better than no forex training course, why not get yourself the best? When searching for a forex training course, you are advised to examine Fxcenter.com. Fxcenter.com takes pride in being pure educators, not brokers. For you, this means better training. You will receive the highest level of forex training possible, as the goal is to educate you on the forex market, not acquire you as a client.
In short, to yield better profits, you are urged to examine forex training courses, particular the courses offered by Fxcenter.com. Why start trading the forex without the proper training and experience, especially when it is so easy to find a forex training course that can not only prepare you for trading, but help you yield better profits.
วันศุกร์ที่ 11 มกราคม พ.ศ. 2551
How to Use a Forex Trading Signal
How to Use a Forex Trading Signal
by Ryan Lee
Forex trading signals are triggered when technical conditions signal a good trading opportunity. Email and SMS (text message) are popular delivery methods for forex trading signal alerts, but Web-based option can often be best if you're at your PC when the signal emerges.
For example, some forex trading signal services have automatic pop-up software to indicate the perfect entry (or exit) point of a trade. These will often include candlestick currency charts that may flash or blink so long as the entry (or exit) point remains valid. If you trust the service provider and you don't have any conflicting information telling you the trade is bad, right then is the perfect time to execute the trade.
But other forex trading services specialize in catering to traders who have medium- or long-term strategies, rather than short-term. A medium- or long-term trade may have a forex trading signal that remains valid for an entire day (or longer), so for traders specializing in longer-duration trades, these forex trading signals services can be delivered via email or SMS at no detriment.
Another way to use signals is to pair them with a service that automatically executes your trades. This can be a risky prospect for traders who prefer to use forex trading signals as mere recommendations and like to do their own homework before making their trades, and such services are better for short-term traders who don't have time to do their own analysis before pulling the trigger on a trade, anyway. The good news is that, thanks to modern technology, forex traders have the option to choose which style of trading -- and which style of corresponding forex trading signals -- works best for them.
Some forex trading signal services allow you to sign up for a free trial; usually consisting of ten or fourteen days. Take advantage of these free trials to make sure your style of trading is compatible with their forex trading signals. If you are new to the forex market, then you can sign up for a free trial and use the signals with a free "practice" account in which you trade "demo money". This way you can learn how to use signals without undue risk.
But ultimately, if you want to make money in the forex market, you're going to have to risk money in a real account, and unless you are incredibly good (or lucky), you're probably also going to have to spend money on a good forex trading signal service. The forex market is not for passive investors -- it is for active traders who wish to rely solely on their wits... And a little help from forex trading signals, of course!
by Ryan Lee
Forex trading signals are triggered when technical conditions signal a good trading opportunity. Email and SMS (text message) are popular delivery methods for forex trading signal alerts, but Web-based option can often be best if you're at your PC when the signal emerges.
For example, some forex trading signal services have automatic pop-up software to indicate the perfect entry (or exit) point of a trade. These will often include candlestick currency charts that may flash or blink so long as the entry (or exit) point remains valid. If you trust the service provider and you don't have any conflicting information telling you the trade is bad, right then is the perfect time to execute the trade.
But other forex trading services specialize in catering to traders who have medium- or long-term strategies, rather than short-term. A medium- or long-term trade may have a forex trading signal that remains valid for an entire day (or longer), so for traders specializing in longer-duration trades, these forex trading signals services can be delivered via email or SMS at no detriment.
Another way to use signals is to pair them with a service that automatically executes your trades. This can be a risky prospect for traders who prefer to use forex trading signals as mere recommendations and like to do their own homework before making their trades, and such services are better for short-term traders who don't have time to do their own analysis before pulling the trigger on a trade, anyway. The good news is that, thanks to modern technology, forex traders have the option to choose which style of trading -- and which style of corresponding forex trading signals -- works best for them.
Some forex trading signal services allow you to sign up for a free trial; usually consisting of ten or fourteen days. Take advantage of these free trials to make sure your style of trading is compatible with their forex trading signals. If you are new to the forex market, then you can sign up for a free trial and use the signals with a free "practice" account in which you trade "demo money". This way you can learn how to use signals without undue risk.
But ultimately, if you want to make money in the forex market, you're going to have to risk money in a real account, and unless you are incredibly good (or lucky), you're probably also going to have to spend money on a good forex trading signal service. The forex market is not for passive investors -- it is for active traders who wish to rely solely on their wits... And a little help from forex trading signals, of course!
วันอาทิตย์ที่ 6 มกราคม พ.ศ. 2551
FOREX Trading Signals - Are They Worth It?
FOREX Trading Signals - Are They Worth It?
by Yusoff Allian
Someone new to FOREX trading may be tempted by the promise of easy profits made by companies that offer FOREX trading signals as a paid service. Indeed there are signal providers out there that do consistently provide decent profits over the long term, but the vast majority of FOREX signal providers are unable to live up to their promises. A new FOREX trader is much better served by learning how to identify entry and exit points themselves, but if they do choose to employ the services of a FOREX trading signal provider there are a few points they should be aware of before handing over their hard earned money.
Keep in mind that FOREX signal providers can charge anywhere from $50 per month to $500 per month, so you'll want to be sure that you get your money's worth. The mere fact that providers are charging money for their signals is usually enough for most professional traders to avoid their services - the thinking being that if their signals were any good they'd be keeping them to themselves and making a bundle from trading alone.
Still, as mentioned above, there are some good signal providers out there so you want to be able to determine the honest providers from the less reputable ones. An easy way to shorten your list of candidates is to focus only on the FOREX signal providers that offer you a free trial. Any provider worth their salt will allow you to try their signals out for a month without any financial obligation. While you're trying out their free service take a look at their past results - have they been consistently profitable over the long term? Any legitimate FOREX signal provider will not hesitate to show you their past results.
Let's assume at this point that you've found a FOREX signal provider that has given you a free month trial, shown positive results in the past, and offers their services at a reasonable monthly rate. Take advantage of their demo account (any broker you use should offer free demo accounts that let you use real data with fake money) and apply their signals to your fake trades. How is it performing? Are the entry and exit signals yielding generally positive results? No signal will ever be 100% accurate, so what you're looking for is a positive result over the long term. Try the signals out for the month and if you're consistently seeing profits then you've likely found yourself a winner.
It's important to realize that although you can pay others to send you FOREX trading signals you'll be much more profitable in the long run if you understand the concepts yourself. Take the time during your free month trial to fine tune your trading strategy and focus on building up your trading discipline.
by Yusoff Allian
Someone new to FOREX trading may be tempted by the promise of easy profits made by companies that offer FOREX trading signals as a paid service. Indeed there are signal providers out there that do consistently provide decent profits over the long term, but the vast majority of FOREX signal providers are unable to live up to their promises. A new FOREX trader is much better served by learning how to identify entry and exit points themselves, but if they do choose to employ the services of a FOREX trading signal provider there are a few points they should be aware of before handing over their hard earned money.
Keep in mind that FOREX signal providers can charge anywhere from $50 per month to $500 per month, so you'll want to be sure that you get your money's worth. The mere fact that providers are charging money for their signals is usually enough for most professional traders to avoid their services - the thinking being that if their signals were any good they'd be keeping them to themselves and making a bundle from trading alone.
Still, as mentioned above, there are some good signal providers out there so you want to be able to determine the honest providers from the less reputable ones. An easy way to shorten your list of candidates is to focus only on the FOREX signal providers that offer you a free trial. Any provider worth their salt will allow you to try their signals out for a month without any financial obligation. While you're trying out their free service take a look at their past results - have they been consistently profitable over the long term? Any legitimate FOREX signal provider will not hesitate to show you their past results.
Let's assume at this point that you've found a FOREX signal provider that has given you a free month trial, shown positive results in the past, and offers their services at a reasonable monthly rate. Take advantage of their demo account (any broker you use should offer free demo accounts that let you use real data with fake money) and apply their signals to your fake trades. How is it performing? Are the entry and exit signals yielding generally positive results? No signal will ever be 100% accurate, so what you're looking for is a positive result over the long term. Try the signals out for the month and if you're consistently seeing profits then you've likely found yourself a winner.
It's important to realize that although you can pay others to send you FOREX trading signals you'll be much more profitable in the long run if you understand the concepts yourself. Take the time during your free month trial to fine tune your trading strategy and focus on building up your trading discipline.
วันพฤหัสบดีที่ 20 ธันวาคม พ.ศ. 2550
What! 90 Seconds to Trade FOREX?
What! 90 Seconds to Trade FOREX?
by Joseph Sgro
Calling all FOREX Traders
I know people have spent $2500 buying Forex Profit Pro..and it's good, but we can't all afford it and now it's off the market.
The cost effective option takes 90 seconds to discover the trend, jump on the trade and get support from real traders. You can see how right here.
MarketClub Makes it Easy
No joke MarketClub's system will pay for itself - I know, I'm a trader. You try their system to time your buy and sell and thank me later.
Which Market to Trade
In case you know nothing about the FOREX market here is a snippet to keep in mind when you are contemplating which market to trade.
"This market is the Largest Financial Market in the World"
It is estimated that 3.5 trillion in dollar value is traded per day worldwide. Approximately 5,000 banks, both central and private participate in the FX market worldwide.
Developing Confidence
So it's not a bad market to be trading. The biggest thiong about trading is developing confidence to put your money on the line - I know because I'm a trader too. What has helped me become more confident is I have completed a nuimber of courses and I know I will spend more money in updating my skills.
I know I need to change just like the market changes and I try to keep in tune with what is going on.
Your System
Your trading system is the most important element in giving you confidence. This is the reason MarketClub is the answer if you want to trade without having to buy expensive tools and creating the "wheel". MarketClub has the system, the charting, the data, the support, technical indicators and tools.
Trading is a good path to cash flow and even wealth. It's not all roses - you can lose your money, but you can put your trades on auto and do something else..just don't leave your trade on and go on holidays. You will keep up with the latest by tuning in to THE 10 Simple Rules Ezine blog.
by Joseph Sgro
Calling all FOREX Traders
I know people have spent $2500 buying Forex Profit Pro..and it's good, but we can't all afford it and now it's off the market.
The cost effective option takes 90 seconds to discover the trend, jump on the trade and get support from real traders. You can see how right here.
MarketClub Makes it Easy
No joke MarketClub's system will pay for itself - I know, I'm a trader. You try their system to time your buy and sell and thank me later.
Which Market to Trade
In case you know nothing about the FOREX market here is a snippet to keep in mind when you are contemplating which market to trade.
"This market is the Largest Financial Market in the World"
It is estimated that 3.5 trillion in dollar value is traded per day worldwide. Approximately 5,000 banks, both central and private participate in the FX market worldwide.
Developing Confidence
So it's not a bad market to be trading. The biggest thiong about trading is developing confidence to put your money on the line - I know because I'm a trader too. What has helped me become more confident is I have completed a nuimber of courses and I know I will spend more money in updating my skills.
I know I need to change just like the market changes and I try to keep in tune with what is going on.
Your System
Your trading system is the most important element in giving you confidence. This is the reason MarketClub is the answer if you want to trade without having to buy expensive tools and creating the "wheel". MarketClub has the system, the charting, the data, the support, technical indicators and tools.
Trading is a good path to cash flow and even wealth. It's not all roses - you can lose your money, but you can put your trades on auto and do something else..just don't leave your trade on and go on holidays. You will keep up with the latest by tuning in to THE 10 Simple Rules Ezine blog.
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