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แสดงบทความที่มีป้ายกำกับ Forex Training แสดงบทความทั้งหมด
แสดงบทความที่มีป้ายกำกับ Forex Training แสดงบทความทั้งหมด

วันจันทร์ที่ 9 มีนาคม พ.ศ. 2552

Forex Training - Mistakes That Assure Failure

Forex Training - Mistakes That Assure Failure

I know you intend to be successful in Forex trading. Nobody embarks on a business enterprise intending to fail, yet many people unfortunately suffer that fate. This Forex guide will help ensure that you find success and financial gain in the Forex marketplace. I will teach you to avoid the expensive pitfalls that other traders have experienced. Firstly, you need a reliable trading system. This will greatly increase your odds for success. This is a researched, planned strategy for getting in and out of the market. Plan ahead before you are in the midst of a fast-paced deal if you want to prevent impetuous, costly errors. Don't take unnecessary risks with your money by jumping into the market unprepared. You want to objectively find a low- risk deal and not just randomly trade in what sounds good at the moment. The old adage applies well to Forex: "If you fail to plan, you plan to fail." Staying The Course Once your strategy is in place, follow it. When beginning with Forex trading, be cautious and get a few profitable deals under your belt, even if they produce a modest return. Undisciplined trading is a sure-fire recipe for failure. To develop a plan you need some education in the market. Information is readily available online to give you the basics to master Forex trading. Read about this market, enroll in a reputable training program, and look at historical charts of previous Forex deals. Take your knowledge, make a sensible, dependable plan, and then follow it. Money management techniques will help you avoid the risk of ruin. You want to boost your profit margin, minimize risks, and grow geometrically in wealth. Without money management you could spend profits unwisely and empty your trading account. So learn to make your money work for you so it will build as quickly, but safely, as possible. This gives you more freedom for larger trading opportunities which can yield more profitability. Another mistake to avoid is ignoring the psychological implications of foreign currency trading. It is easy to get so wrapped up in a particular deal that you are afraid to sell when the time is optimal, always waiting for greater profits just around the corner. Or else you might be overly anxious about risking your capital and not take action on a deal when an excellent opportunity presents itself. Avoid emotional extremes, act prudently, and realize most traders accommodate losses from time to time. Use every gain, no matter if it's small or huge, to bolster your confidence and build your knowledge of how to use the lucrative Forex market to your best financial advantage. Is The Risk Worth The Reward? Consider using a Risk-reward (RR) ratio greater than 1-1. For example, when you utilize a RR ratio of 1-2 you are in essence saying that you are willing to make twice the amount risked in one trade. This results in a system of about 50% in order to make a good profit. With a RR ratio of 1-3 you have the chance of making three times the amount of your initial investment in profit. So, carefully consider the RR ratio that you are comfortable using. If you apply the steps in this Forex guide you will be well on your way to a successful Forex journey. Ignoring this advice will most likely lead you where you do not wish to end up, with disillusioned hopes and an empty trading account. Do your homework, develop a workable plan, and discover consistent gains in the profitable world of Forex trading.

Forex Training - Emotions and Decision Making Don't Mix

Forex Training - Emotions and Decision Making Don't Mix

Staying away from emotional decisions when trading in the Forex market is very important. It is best to act upon a well thought out strategy that you have had time to test and perfect. Making decisions upon your natural instinct just does not work with Forex trading. It could cost you lots of money that you do not want to risk. Since the Forex market is so changeable and fluctuating, traders tend to get emotional. A good way to avoid this is to have a method and plan chosen beforehand, and then stick to it, even though at the moment it seems better to go with a different, last-minute decision. In order to succeed in the Forex market, you have to learn some key factors: analysis and perseverance. Systems Can Work For You A word of advice from experienced traders is to create a system and act on it no matter what happens. Your system should include the following things: what to buy, when to buy, when to trade, and what to trade. If you stick to your strategy, your profits will normally increase. A system that is founded in technical analysis of the market trends will be the backbone of your success in Forex trading. It will be the best tool you can use. Many traders will tell you that when their system and their emotional instincts clash, the system is almost invariable right. A system that is mechanically perfected and thought through will eradicate emotion and vulnerability from your trading. In order to work smoothly and safely, your system must have these four things: ~ When you should obtain a currency ~ When you should trade currencies and which to trade to ~ What conditions can influence that decision ~ And how you can trade out of a currency The other element to solid, successful trading is perseverance. The Forex market fluctuates – it rises and falls in patterns that are predictable to technical analysts. It never will just move smoothly and flawlessly. It will always have both highs and lows. It is in these times of instability that rash decisions can hurt you. Plan Your Trade And Trade Your Plan If a currency that you are trading suddenly takes a dive down, your natural reaction is to panic, cut your losses, and run. Despite the fact that your system says to be patient, you think it would be smarter to ditch it all now. In the same way, it is easy to hurriedly buy up a lot of a certain currency that is rising in value and popularity on a whim. Everyone will be buying up this currency and soon you will find yourself outdone. That is why it is crucial to have a good system and stick to it, despite any fads and phases of the market. If you refrain from impetuous and emotional decisions and choices in the Forex market, you will become a better trader and find that it is easier than you expected it. You will risk less money and inevitably gain more.

วันศุกร์ที่ 6 มีนาคม พ.ศ. 2552

Forex Training - Catch Trend If You Can With These Forex Indicators

Forex Training - Catch Trend If You Can With These Forex Indicators

Recognizing positive trends in any market is difficult and in the forex market, getting in or out too late could mean your entire bankroll. You do not have to be the best of the best in order to make a profit, but you do need to get in at a low enough point and get out at a high enough point to make a profit. If you do not recognize the right forex trading signals, you will wind up getting buried and be out of the game even before you got your feet wet.

In this forex training, we will cover the different trend following forex indicators. First, let's start with crossover techniques that are specifically aimed and recognizing new trends that are developing. Some of the more popular ones are using the MACD and moving averages.

As an example for moving averages, when the EMA (5) crosses with the EMA (20), you have the crossing of a long term trend with a short term trend that is showing a direction of profitability. You can use the same principles when looking at the MACD crossover. Over time, you will learn to pick up these trends earlier and this will lead to more opportunities for profit.

At this writing, a perfect example of this occurred. During the market today, the 4 hours chart of the GPB/USD pairing had the TRIX (15,9) moving dramatically upwards. At one point, it had actually gone up 100 points. This is a prime example of a great money making opportunity in the forex market.

Two other popular trend following forex indicators are the ADX and Supertrend.

The Supertrend model was developed specifically for spotting trends in the forex market and is extremely effective. That should be apparent by the name! The ADX is also very popular and has led to spotting very profitable situations over the years. Noticing a crossing at the 17-23 level (we use 20) is a great indication of situation that you will want to look at. Noticing where it is crossing on the DI- and DI+ line will allow you to figure out if you should purchase or get out if you are already involved in the trade.

Learning at least one trend indicator is a necessity, but learning multiple ones can only lead to good things. Like anything else, if you have more than one successful way to read a situation, you can look for a time when all of these forex signals converge to get in or out of your forex investment. If you have conflicting information, you know you should stay away and wait for a better opportunity than to risk your money.

วันเสาร์ที่ 11 ตุลาคม พ.ศ. 2551

Forex Training - These Traders Learned Forex in 14 Days and Made Millions!

Forex Training - These Traders Learned Forex in 14 Days and Made Millions!

by Kelly Price


Here we are going to look at forex training and a famous experiment when a group of traders with no experience were taught to trade in 14 days and then went onto make $100 million in profits. Let's see how they did it and what you can learn...

The Experiment

Legendary trader Richard Dennis set out to prove that anyone could win at trading with the right training. He got a group of people together who had never traded before which ranged from a security guard to an actor and the group was of all ages and both sexes. He then taught them to trade in just 14 days, gave them accounts and they rewarded him by making over $100 million dollars in just 4 years.

You maybe thinking that worked so how come 95% of traders lose money if anyone can learn to trade?

Of course, some traders get the wrong forex training or education - but most fail due to psychological issues. Let's explore these further and other points, the experiment proved.

What You can Learn From It

We know forex is a learned skill but what always struck me about the story was - how quick they learned which proves, forex training is all about working smart, not working hard.

It also proved that simple systems work best. The system taught was really just a long term, breakout, trend following system, with strict money management rules.

Never believe anyone who tells you forex trading needs to be complicated it doesn't.

Simple trading systems work best and always will, as they have fewer elements to break, in the face of volatile ever changing market conditions.

You would probably expect all the traders to have the same results, as they all had the same training, system and money management tools to use. You would be wrong though; there were big differences in performance within the group.

Dennis let them apply the tools themselves within his guidelines and the part the traders found the hardest was not learning the system - but applying the money management rules and keeping disciplined.

If you think discipline is simple its not, it's very hard, to keep your emotions out when the market hands you losses and makes you look an idiot.

Most forex traders believe the nonsense they read, about not facing periods of losses but this is rubbish - all traders face them and losing periods can last for weeks or longer, that's why discipline is so hard.

To ensure the traders were as disciplined as possible, Dennis ensured they understood how and why the system worked, to give them confidence. He didn't just tell them to follow him without knowing why, they took responsibility for executing the trading signals.

Could You Become Rich Trading Currencies?

You may not become as rich as the above group but the opportunity is there, as anyone can learn to trade.

Today, most traders believe they can follow others to success instead; they fall for forex experts, who tell them trading is easy and most never even think about losing and discipline!

If you want succeed at forex trading, get the right forex education you need to consider all the above points and get yourself the right forex training.

If you want to win you can and remember this:

It's not the market that beats the trader; it's the trader who beats himself.

Understand that success comes from your mindset as much as your method and you could make a lot of money trading forex.

วันพุธที่ 13 สิงหาคม พ.ศ. 2551

Forex Training - Fundamental Strategies, Technical Analysis and Risk Management Techniques

Forex Training - Fundamental Strategies, Technical Analysis and Risk Management Techniques

by Arkaitz Arteaga


Forex is the biggest market in the world in terms of the amount of money transacted. There are several huge players in the market. These are knowledgeable professionals who trade in these markets for various financial institutions, hedge funds, brokerages etc. If you, as an individual trader, want to profit from trading in the market, then you have to know the various strategies the traders use to trade in the market.

You can learn all these strategies either by learning the various steps yourself or by joining a training course. If you decide to learn on your own, then you may require some time before you get the hang of using them or before you formulate some strategies of your own. If you decide to join a training course, then you can learn all the strategies from an experienced trader and learn to use these strategies in the market during the course itself.

There are several training institutes out there who have associated themselves with the best forex dealers in the market currently. These institutes bring you up to speed with all the latest tools being used in the market these days. They will help you evolve your own trading strategies that you can use to make profits in the market. Some of the institutes also allow you to trade on some of the best platforms with the best traders that these institutes have associated themselves with. The institutes help you in learning the fundamentals of devising your own strategy. They will teach all the basic terms and definitions and update you with the latest developments in technical analysis. They stress on risk management as this is one of the most fundamental factors of forex trading.

Different levels of courses are offered by these institutes. Most of the courses are aimed at the novice trader where they teach you all the basic concept and strategies. In the advanced courses, complex strategies are discussed and its use is practised. They will also teach you various risk management strategies and money management techniques. They build the psychological edge you need to succeed while trading in the forex market. They also have courses aimed at the various corporate who want to protect their exposure to the foreign currency by building positions in the market that hedges their various foreign currency exposures.

These institutes also offer you the choice of learning through the internet which are also known as virtual classrooms or through various physical classrooms. You can choose any of the above options depending upon the one which will suit you the most. If you feel like you need one-to-one coaching and help while trading in the markets then the physical classroom is the choice to make. Another advantage of choosing physical classroom is the amount of networking that you can do while attending the course. This will stand in good stead as you will be able to discuss any future trades with these people.

Forex training is really useful and any opportunity to attend such a training course should not be wasted. If you want to trade in the forex market and make money but you are unsure of yourself, then you should attend a training course as this will put you in the path to making large amounts of profits.

วันเสาร์ที่ 21 มิถุนายน พ.ศ. 2551

Forex Training - You Need it - But Don't Use These Sources

Forex Training - You Need it - But Don't Use These Sources

by Sonia Kristina


Forex training you need it to succeed, its what prepares you for the brutal world of currency trading - lucrative but deadly only the strong survive so you need to be trained right and here are some common sources traders use and you should not...

In no particular order of importance there all best to avoid!

1. Forex Forums

If you want to find losers go to a forum. No serious trader takes time to hang around them, it's the losers who want to stoke their egos, and they can't trade themselves so they pass on their "wisdom" to others to lose with them!

The other people who hang around forums are vendors giving you impartial advice which just so happens if you buy their product, your problems are solved!

2. Forex Robots

I always see adverts for these and how they will automatically make money, so no training required!

Then I see I have to train myself on the software (that's not a robot to me!) and then I see the track record presented has been made up in hindsight knowing the closing prices. Perhaps this isn't such a great way to learn!

Always wondered why vendors sold software for hundred dollars and you could make 100k a year - damn was hoping to give up work!

3. Any Day Trading or Scalping Course

Unlimited profits, regular income small risk sounds good?

Yes it does, if it were true but these people who teach day trading lose as well.

The reason is obvious - all short term movements within a few hours are random and you cant tell what millions of traders will do so don't try. Day trading is a good story and so is James Bond but it's not reality, so maybe I Will give this a miss to.

4. Experts on the News

I always see these guys confident and telling me convincing stories about what will happen next and always wondered, if their that good why aren't they traders?

You can't trade news, that's why markets collapse when there most bullish and rally when there most bearish. News reflects the herd and the herd always losses. Will Rogers once said:

"I only believe what I read in the papers"

He was joking of course - but how many people see a news story, try and trade it and lose? Lots of them.

Scientific Theories

Lots of the these and they sound great! Human nature is constant so it must conform to a law and if you know the law you can win all the time by predicting in advance. The far out investment crowd love these theories and they teach the wisdom of Gann ( who made and lost a fortune) Elliot ( who died poor) and Fibonacci ( who worked out a theory based on the copulation of rabbits which was never intended to be used for forex trading) and tell you that your on the road to knowing how the markets really work.

Problem is - if a law worked all the time, everyone would know the answer is advance and there would be no market - markets move on uncertainty NOT certainty. Human nature maybe constant but were all different and as a vast mass do not conform to scientific theory.

So now you know where not to get your forex training where should you get it?

There are plenty of good free sources online and also you can pop to your bookstore or Amazon and get a few books, by traders who have walked the walk rather than simply talk the talk.

Don't fall for the numerous forex educational sources the bulk of losers do. Learn currency trading the right way and get on the road to currency trading success!

Free Online Forex Trading Information