Forex Autopilot System - Forex Profit on Autopilot
by Vixen31
Do you want to succeed in the forex market? Do you want to find out how to trade automatically? Discover the new forex autopilot that will make you money even when you are not monitoring them for long hours! Forex Autopilot System is an automated forex system that runs automatically! It is the only autopilot forex trading system perfectly designed to run on different computers! Forex Autopilot System will surely automate your trading profits! Forex Autopilot System is an automated forex trading system designed by Mark Copeland. He is a quantitative analyst of Golden Sach! He uses his jobs to gather data and research at the huge and complicated system that most professional trader uses to make some killer trades for millions of dollars! Forex Autopilot System runs using just his stand alone PC! He perfected it, tried it and packed the system into a simple piece of software! Forex Autopilot System is the only system that uses the most advanced technology and best technical indicators!
It is not important if you are a newbie in forex trading! See for yourself how Forex Autopilot System turns a rookie into an expert one! It will tell you everything you need to know so that you will not be confused about what you are doing when you are trading! Forex Autopilot doesn't need a lot of time to monitor! The system is not hard to use! Forex Autopilot System will not only saved you time but it will also saved you a lot of money! It also runs in the most famous trading platform in forex world, which is the Meta Trader Platform which you can absolutely download for free!
Forex Autopilot System will make you a professional trader less the work, time and effort! Imagine the things that Forex autopilot will going to give you! So, How would you like to travel, exercise, play your favorite sports and spend some quality time with your family rather than spending a lot of hours glued in front of your computer? Make sure to trade automatically, jump now and enjoy life! Make that killer moves and make sure that you trade with "Forex Autopilot System"!
Forex autopilot system is the only automated system that requires no trading experienced! It is designed to run unattended! Fully automated black box software.Low risk with high gains! It can be tested without having to risk any trading capital! It is not just automatic trading system but also profitable system that let you possibly earn large amounts! Forex Autopilot System let you work at the comfort of your own home! It also works in any country! It can be use anywhere and anytime because the market is always often! And best of all it is easy to install. It will require you almost 5 minutes to get the software ready for trading!Just install and run! Start to automate your trading for huge profits! Forex Autopilot System will show you the way how to conquer trading market less stress and effort!
วันเสาร์ที่ 2 กุมภาพันธ์ พ.ศ. 2551
วันพฤหัสบดีที่ 31 มกราคม พ.ศ. 2551
Forex Enterprise Home Business Package
Forex Enterprise Home Business Package
by James blunt
"Here Is A Way To Make Money That Has Never Yet Failed"
This was the message I got when I arrived at the Forex Enterprise website. A number of friends had told me about Forex Enterprise and spoke very highly of it.
"Who Else Wants To Earn Thousands Of Dollars Per Month With A System That Virtually Runs 100% On Autopilot!?"
This was a very strong statement, but could Nick Marks back this up? There's no doubt that the internet is the best place to make money, but could you make money with this system? or was it just another "get rich quick" scam, that flooded the internet?
After looking into Forex Enterprise, here is what I found out:
Forex Enterprise is not your typical money making scam. The system will not make you a millionaire overnight, however, it provides you with information that lets you dig into making money online. This is a very good starting point for anybody looking to make money online.
It is very easy to assume Forex Enterprise is another scam, as of course, the sales page may seem a little over the top, but this is far from the truth. It is possible to earn thousands of dollars a month with the system, however, this takes a certain amount of work. If you think you can purchase the system and instantly make thousands of dollars, you are wrong, however, it is very possible to use it to generate a lot of money online.
Who Created Forex Enterprise?
This was created by Nick Marks, a multi-millionaire who has made his fortune online. Nick Marks has now put his ideas together and developed a system known as Forex Enterprise that can create multiple streams of income from a variety of sources on the internet. It did surprise me, with the huge amount of testimonials where ordinary people had used Nick Mark's system to generate very high income online, normal people without prior experience to making money on the internet. This is not a get rich quick scheme, it is a system designed to work over long term and create a future for you.
If you are the type of individual who can take information in and learn well from people, this is a great opportunity, however, this is not for you if you think you can be lazy and not put the work in. Making money online does require some effort.
by James blunt
"Here Is A Way To Make Money That Has Never Yet Failed"
This was the message I got when I arrived at the Forex Enterprise website. A number of friends had told me about Forex Enterprise and spoke very highly of it.
"Who Else Wants To Earn Thousands Of Dollars Per Month With A System That Virtually Runs 100% On Autopilot!?"
This was a very strong statement, but could Nick Marks back this up? There's no doubt that the internet is the best place to make money, but could you make money with this system? or was it just another "get rich quick" scam, that flooded the internet?
After looking into Forex Enterprise, here is what I found out:
Forex Enterprise is not your typical money making scam. The system will not make you a millionaire overnight, however, it provides you with information that lets you dig into making money online. This is a very good starting point for anybody looking to make money online.
It is very easy to assume Forex Enterprise is another scam, as of course, the sales page may seem a little over the top, but this is far from the truth. It is possible to earn thousands of dollars a month with the system, however, this takes a certain amount of work. If you think you can purchase the system and instantly make thousands of dollars, you are wrong, however, it is very possible to use it to generate a lot of money online.
Who Created Forex Enterprise?
This was created by Nick Marks, a multi-millionaire who has made his fortune online. Nick Marks has now put his ideas together and developed a system known as Forex Enterprise that can create multiple streams of income from a variety of sources on the internet. It did surprise me, with the huge amount of testimonials where ordinary people had used Nick Mark's system to generate very high income online, normal people without prior experience to making money on the internet. This is not a get rich quick scheme, it is a system designed to work over long term and create a future for you.
If you are the type of individual who can take information in and learn well from people, this is a great opportunity, however, this is not for you if you think you can be lazy and not put the work in. Making money online does require some effort.
วันพุธที่ 30 มกราคม พ.ศ. 2551
Forex Charts - Avoid This Common Deadly Mistake or Lose
Forex Charts - Avoid This Common Deadly Mistake or Lose
by Monica Hendrix
If there is one basic mistake traders make and continue to make it's the one in this article and if you make it you will simply lose all your money and do it quickly, so here is the forex chart mistake to avoid.
The mistake is the forex prices can be predicted on forex charts.
No they can't...
Of course if you are predicting you are hoping and guessing and that won't get you far in any venture in life, let alone forex trading.
Of course there are many vendors who will tell you prices can be predicted with scientific accuracy and the naïve trader swallows it.
The most popular scientific theories are based around the works of - Gann, Elliot wave and Fibonacci.
These guys never made money with their theories and neither will you - because the fact that markets move at all, proves there is no scientific theory... If there were a scientific theory, we would all know the price in advance and there would be no market - common sense really.
Other forex traders predict but they don't believe in scientific theories - their just trying to buy low and sell high and this doesn't work either.
For example - a trader sees the price dip to just above support, assumes it will hold and executes his trading signal. Of course sometimes it works, most of the time it does not.
Rather than hoping guessing or predicting - you need to get the odds in your favour. Forex trading is a game of odds not certainties but get them on your side and you can make a ton of money.
The Way To Win With Forex Charts
Lets say you see prices dip to support you don't buy you wait for momentum to turn up (you can read about momentum oscillators in our other articles) this gives you advance warning of a shift in price velocity and shows the level is likely to hold.
You can also use momentum to follow a break of support and trading breakouts is very profitable.
It's a fact that most big bullish or bearish moves start from new market lows or new highs and by following the breaks with momentum on your side you can catch the biggest trends.
So remember:
The next time you see someone say they can predict market tops or bottoms with 90% market accuracy - you know their lying and that if you try and predict with your forex charts, you simply lose all your money and do it quickly.
Use your forex charts correctly. Trade the odds, confirm each move with momentum and enjoy long term currency trading success.
by Monica Hendrix
If there is one basic mistake traders make and continue to make it's the one in this article and if you make it you will simply lose all your money and do it quickly, so here is the forex chart mistake to avoid.
The mistake is the forex prices can be predicted on forex charts.
No they can't...
Of course if you are predicting you are hoping and guessing and that won't get you far in any venture in life, let alone forex trading.
Of course there are many vendors who will tell you prices can be predicted with scientific accuracy and the naïve trader swallows it.
The most popular scientific theories are based around the works of - Gann, Elliot wave and Fibonacci.
These guys never made money with their theories and neither will you - because the fact that markets move at all, proves there is no scientific theory... If there were a scientific theory, we would all know the price in advance and there would be no market - common sense really.
Other forex traders predict but they don't believe in scientific theories - their just trying to buy low and sell high and this doesn't work either.
For example - a trader sees the price dip to just above support, assumes it will hold and executes his trading signal. Of course sometimes it works, most of the time it does not.
Rather than hoping guessing or predicting - you need to get the odds in your favour. Forex trading is a game of odds not certainties but get them on your side and you can make a ton of money.
The Way To Win With Forex Charts
Lets say you see prices dip to support you don't buy you wait for momentum to turn up (you can read about momentum oscillators in our other articles) this gives you advance warning of a shift in price velocity and shows the level is likely to hold.
You can also use momentum to follow a break of support and trading breakouts is very profitable.
It's a fact that most big bullish or bearish moves start from new market lows or new highs and by following the breaks with momentum on your side you can catch the biggest trends.
So remember:
The next time you see someone say they can predict market tops or bottoms with 90% market accuracy - you know their lying and that if you try and predict with your forex charts, you simply lose all your money and do it quickly.
Use your forex charts correctly. Trade the odds, confirm each move with momentum and enjoy long term currency trading success.
วันจันทร์ที่ 28 มกราคม พ.ศ. 2551
Forex Trading: How to be Successful
Forex Trading: How to be Successful
by Lene Clark
How to trading in Forex is just not enough to be successful. In the largest and the most liquid financial market in the world, you have to need more than the knowledge and skill to be successful. You need to know about different things involved in Forex to earn lots of money.
It is simply knowing about how to trade in Forex and about the major currencies trading, like the US dollar, the Japanese Yen, and others are just the basics.It is also equally essential to know when to trade and what to trade in forex.For all of these you have to know about trading strategy. and also know about different kind of strategies needed in forex. There are different kind of strategies that can be use in forex market for trading.
After using these strategies correctly. you can earn lots of money in very short time. but you have to know forex trading is very different from stock trading. so that, using strategies are also different.In the first strategy that you can use for earning lots of money in forex market is Leverage Forex Trading strategy. In this strategy you are a investor in the forex market, to borrow money to increase earning potential .by this method you can easily made money to 1:100 ratio. but risk factor is involved here.Most commonly used strategy is leverage forex trading by forex traders.
In second strategy called stop loss order . where forex trader predetermined a point in the trade where trader will not trade. This strategy can be use to minimize risk and loss.also this technique backfire to you. as a forex trader.it is depend to you to decide which technique to use.
Some of the techniques that you can use when trading in the Forex market.
Forex trading is a 24 hour market where trader can trade anytime and anywhere . If trader think that the Forex market conditions are good at a specific time, then he can trade at that specific time. Also, the Forex market is the most liquid market in the world. This means that trader can enter or exit the market anytime . This is to minimize the risk and there is no daily trading limit.
Here are some of the tips that you should remember to earn money in the Forex market :
*The first and the last ticks are the most expensive. So, the rule of thumb is getting in late and get out early in market.
* When you are losing, and you want to reduce the risk of losing more money. So, do not add more money when you are losing.
*Select trades that move with the trend. This may minimize the risk of losing money and maximize chances of profits.
There are some of tools that you can use when trading in the Forex market. One is the Forex charts. For the speculator, the chart is the most important tool that traders can use to determine market trends and accurately predict the future value of the currency. Although it is not actually 100% accurate, you can use the Forex charts as a guide to what's happening in the market.
Trader need to know how to read the different charts involved in the Forex market. There are daily charts, hourly charts, 15 minute charts and even 5 minute charts to the action. You can compare each of the data in the chart to check market trends and at the same time, spot potential money making trends.
This can help you minimize the risk when trading in Forex. Learn how to read charts effectively and you will be well on your way to become successful in the Forex market.
These are some the techniques and tips that you should always keep in mind in order to minimize the risks and maximize your earning potential in Forex trading. Depending on your skills and how you apply your techniques , you can really make a huge money in the Forex market. However, to be a truly successful Forex trader, you have to accept the fact that you will lose money sometimes . Never get discouraged when you loss. Analyze where you made mistake, and think of a solution to get back what you lost and continue trading.
by Lene Clark
How to trading in Forex is just not enough to be successful. In the largest and the most liquid financial market in the world, you have to need more than the knowledge and skill to be successful. You need to know about different things involved in Forex to earn lots of money.
It is simply knowing about how to trade in Forex and about the major currencies trading, like the US dollar, the Japanese Yen, and others are just the basics.It is also equally essential to know when to trade and what to trade in forex.For all of these you have to know about trading strategy. and also know about different kind of strategies needed in forex. There are different kind of strategies that can be use in forex market for trading.
After using these strategies correctly. you can earn lots of money in very short time. but you have to know forex trading is very different from stock trading. so that, using strategies are also different.In the first strategy that you can use for earning lots of money in forex market is Leverage Forex Trading strategy. In this strategy you are a investor in the forex market, to borrow money to increase earning potential .by this method you can easily made money to 1:100 ratio. but risk factor is involved here.Most commonly used strategy is leverage forex trading by forex traders.
In second strategy called stop loss order . where forex trader predetermined a point in the trade where trader will not trade. This strategy can be use to minimize risk and loss.also this technique backfire to you. as a forex trader.it is depend to you to decide which technique to use.
Some of the techniques that you can use when trading in the Forex market.
Forex trading is a 24 hour market where trader can trade anytime and anywhere . If trader think that the Forex market conditions are good at a specific time, then he can trade at that specific time. Also, the Forex market is the most liquid market in the world. This means that trader can enter or exit the market anytime . This is to minimize the risk and there is no daily trading limit.
Here are some of the tips that you should remember to earn money in the Forex market :
*The first and the last ticks are the most expensive. So, the rule of thumb is getting in late and get out early in market.
* When you are losing, and you want to reduce the risk of losing more money. So, do not add more money when you are losing.
*Select trades that move with the trend. This may minimize the risk of losing money and maximize chances of profits.
There are some of tools that you can use when trading in the Forex market. One is the Forex charts. For the speculator, the chart is the most important tool that traders can use to determine market trends and accurately predict the future value of the currency. Although it is not actually 100% accurate, you can use the Forex charts as a guide to what's happening in the market.
Trader need to know how to read the different charts involved in the Forex market. There are daily charts, hourly charts, 15 minute charts and even 5 minute charts to the action. You can compare each of the data in the chart to check market trends and at the same time, spot potential money making trends.
This can help you minimize the risk when trading in Forex. Learn how to read charts effectively and you will be well on your way to become successful in the Forex market.
These are some the techniques and tips that you should always keep in mind in order to minimize the risks and maximize your earning potential in Forex trading. Depending on your skills and how you apply your techniques , you can really make a huge money in the Forex market. However, to be a truly successful Forex trader, you have to accept the fact that you will lose money sometimes . Never get discouraged when you loss. Analyze where you made mistake, and think of a solution to get back what you lost and continue trading.
Currency Trading Basics - Answer This Question Correctly or Lose Your Equity
Currency Trading Basics - Answer This Question Correctly or Lose Your Equity
by kelly price
Here we are going to look at currency trading basics and one specific question any novice forex trader must answer correctly, if they are going to win with their forex trading strategy, so here it is...
My trading edge over the 95% if traders who lose is (defined)
To win you need to have a trading edge - it's as simple as that. Here are some answers the bulk of losers will give and they will all see you lose
- I intend to use a forex day trading or scalping method
- I am going to blindly trade a vendors system
- I like to take expert opinion and trade the news
- I have a forex trading system that can predict forex prices
- I believe the markets move to a scientific formula and will take advantage of one
- I have a complicated system that I have refined in back testing
- I am simply going to buy into support and sell into resistance
All the above do NOT constitute and edge and will see you fail at forex trading - keep in mind 95% of traders lose!
If you learn anything in your forex education it should be that forex trading is not as simple as it first appears and to learn currency trading correctly you must end up with an edge that you can define - no two peoples edges are identical but successful traders know what it is and why it gives them an advantage and they have the confidence to apply it with rigid discipline.
Lets first start with a fact - forex trading is an odds game not a game of certainties.
There is no scientific method to help you determine prices in advance.
If there was we would all know the price and there would be no market! Furthermore, if you try and predict forex prices, you will lose because you are simply hoping and guessing and you should really be trading the reality and confirming every trading signal before executing.
Forget complicated trading system!
Simple systems work best as they are more robust in the face of brutal ever changing market conditions and have fewer elements to break.
Forget the news its just stories.
The news reflects the emotions of the losing majority and if you get involved in trying to follow it, you will lose.
You need to trade the odds to enjoy currency trading success.
The best way is to use forex charts, where you can simply see the reality of price change and you can either forex swing trade or trend follow - but never day trade!
Day trading is the best way to lose money out and doesn't work in the real world.
Forget all the gurus out there with their regular income systems and simulated track records; it's a loser's game.
Forex trading is a combination of a simple forex trading system; you totally understand this then allows you to execute it with discipline.
If you don't have the confidence in your system you will never have the discipline to follow it and these traits come from understanding and knowing a trading edge.
So there you have it perhaps the most important point of currency trading basics to learn but if you do and apply what we have written you could enjoy huge forex success.
by kelly price
Here we are going to look at currency trading basics and one specific question any novice forex trader must answer correctly, if they are going to win with their forex trading strategy, so here it is...
My trading edge over the 95% if traders who lose is (defined)
To win you need to have a trading edge - it's as simple as that. Here are some answers the bulk of losers will give and they will all see you lose
- I intend to use a forex day trading or scalping method
- I am going to blindly trade a vendors system
- I like to take expert opinion and trade the news
- I have a forex trading system that can predict forex prices
- I believe the markets move to a scientific formula and will take advantage of one
- I have a complicated system that I have refined in back testing
- I am simply going to buy into support and sell into resistance
All the above do NOT constitute and edge and will see you fail at forex trading - keep in mind 95% of traders lose!
If you learn anything in your forex education it should be that forex trading is not as simple as it first appears and to learn currency trading correctly you must end up with an edge that you can define - no two peoples edges are identical but successful traders know what it is and why it gives them an advantage and they have the confidence to apply it with rigid discipline.
Lets first start with a fact - forex trading is an odds game not a game of certainties.
There is no scientific method to help you determine prices in advance.
If there was we would all know the price and there would be no market! Furthermore, if you try and predict forex prices, you will lose because you are simply hoping and guessing and you should really be trading the reality and confirming every trading signal before executing.
Forget complicated trading system!
Simple systems work best as they are more robust in the face of brutal ever changing market conditions and have fewer elements to break.
Forget the news its just stories.
The news reflects the emotions of the losing majority and if you get involved in trying to follow it, you will lose.
You need to trade the odds to enjoy currency trading success.
The best way is to use forex charts, where you can simply see the reality of price change and you can either forex swing trade or trend follow - but never day trade!
Day trading is the best way to lose money out and doesn't work in the real world.
Forget all the gurus out there with their regular income systems and simulated track records; it's a loser's game.
Forex trading is a combination of a simple forex trading system; you totally understand this then allows you to execute it with discipline.
If you don't have the confidence in your system you will never have the discipline to follow it and these traits come from understanding and knowing a trading edge.
So there you have it perhaps the most important point of currency trading basics to learn but if you do and apply what we have written you could enjoy huge forex success.
Forex Money Management - Why It's so Hard to Accept Huge Profits
Forex Money Management - Why It's so Hard to Accept Huge Profits
by kelly Price
Many traders think that accepting losses is hard but it's not nearly as hard as accepting big profits. When you are engaged in forex money management your profits need to exceed your losses so you need to maximize them- so why do most traders have a problem, on the one hand we all want big gains - We do but:
Most traders have a psychological problem in running profits.
The typical forex trader gets a profit and feels pleased. The bigger it gets though, the more tempted he is to take it. Swings in price go back against his position and eats his open equity and this causes emotional problems.
The bigger the profit becomes the more tempted the trader is to take it. The trader ends up snatching the profit early, as open equity swings cause him to panic and he banks it and then what happens?
The trade continues the way he thought and goes on to pile up $10, 20 30,000 or more and he's not in.
Its hard holding a profit in a long term trend and taking short term swings against you, by sometimes thousands a day - but if you want to catch and hold the long term trends that's what you have to do.
It requires total understanding of your trading system and confidence in it - and this is why most traders can't do it they are emotional "shoot from the hip" traders or following a guru.
A good forex trading system will normally win 30 - 50% of the time (forget the traders who claim 90% their lying) so your losers will be normally more or the at the same level as your profits. So you need to have a profit 3 - 5 times bigger than your loss to make good profits on your overall trading account.
Most traders simply don't have the patience and discipline to follow long term trends but you must to win. However, look at the major forex trends and you will see they last for months or years and can make you rich - IF you can lock into and hold them.
Many forex traders simply can't cope with trend following so they try day trading and vendors present it as way to scalp small profits and build them over time - good story, doesn't work. Day trading is a loser's game as all short term volatility is random.
If you find long term trend following to stressful, try forex swing trading as profits and loses come quickly and you don't need to endure the open equity dips you do in trend following.
If you're a novice cut your teeth on swing trading and build up your confidence and discipline to try long term trend following - if you can catch these trends, accept open equity dips and keep your eyes on the end prize, you could make huge profits.
Trend following is hard but very lucrative - if you have the mindset you can turn these trends into huge profits and understand forex money management is not just about taking losses its also about accepting big profits to.
by kelly Price
Many traders think that accepting losses is hard but it's not nearly as hard as accepting big profits. When you are engaged in forex money management your profits need to exceed your losses so you need to maximize them- so why do most traders have a problem, on the one hand we all want big gains - We do but:
Most traders have a psychological problem in running profits.
The typical forex trader gets a profit and feels pleased. The bigger it gets though, the more tempted he is to take it. Swings in price go back against his position and eats his open equity and this causes emotional problems.
The bigger the profit becomes the more tempted the trader is to take it. The trader ends up snatching the profit early, as open equity swings cause him to panic and he banks it and then what happens?
The trade continues the way he thought and goes on to pile up $10, 20 30,000 or more and he's not in.
Its hard holding a profit in a long term trend and taking short term swings against you, by sometimes thousands a day - but if you want to catch and hold the long term trends that's what you have to do.
It requires total understanding of your trading system and confidence in it - and this is why most traders can't do it they are emotional "shoot from the hip" traders or following a guru.
A good forex trading system will normally win 30 - 50% of the time (forget the traders who claim 90% their lying) so your losers will be normally more or the at the same level as your profits. So you need to have a profit 3 - 5 times bigger than your loss to make good profits on your overall trading account.
Most traders simply don't have the patience and discipline to follow long term trends but you must to win. However, look at the major forex trends and you will see they last for months or years and can make you rich - IF you can lock into and hold them.
Many forex traders simply can't cope with trend following so they try day trading and vendors present it as way to scalp small profits and build them over time - good story, doesn't work. Day trading is a loser's game as all short term volatility is random.
If you find long term trend following to stressful, try forex swing trading as profits and loses come quickly and you don't need to endure the open equity dips you do in trend following.
If you're a novice cut your teeth on swing trading and build up your confidence and discipline to try long term trend following - if you can catch these trends, accept open equity dips and keep your eyes on the end prize, you could make huge profits.
Trend following is hard but very lucrative - if you have the mindset you can turn these trends into huge profits and understand forex money management is not just about taking losses its also about accepting big profits to.
วันอาทิตย์ที่ 27 มกราคม พ.ศ. 2551
Forex Education - A Lesson from History for Forex Success
Forex Education - A Lesson from History for Forex Success
by kelly price
Here we are going to look at the story of "the turtles". If you don't know who they were, then you should study this group of traders, as learned to trade in just 14 days and made $100 million, in just 4 years! There is much to learn and it's an inspiring story, so let's look at it.
The story begins in 1983, when trading legend Richard Dennis decided to prove that anyone could be a trader, if they had the right mindset, the right education and the right trading system.
He picked a group of people who had never traded before.
This group consisted of both sexes, various ages and various levels of academic achievement and variety of occupations from a security guard to a boy fresh from school.
He then set about teaching them to trade in 14 days.
He set them up with trading accounts and the results were astounding:
This group of traders went on to make $100 million in four years and many went on to become trading legends.
So what can you learn from the experiment?
The first lesson is, anyone has the potential to be a successful trader and every thing about currency trading can be learned.
Secondly, if you have the right forex education you can do it quickly, 14 days is not a long time to learn any trade!
Hang on! - You maybe saying:
If everyone can learn to trade, why do 95% of forex traders wipe out their accounts?
When Dennis taught the turtles, he used a simple method - but he rammed home two:
1. You need to have mental discipline to follow any system because if you don't, you have no method at all. He made sure that the traders knew exactly how and why the system worked, to give them the confidence and discipline to follow it.
Most traders simply never get confidence in what their doing, as they follow others or simply have no well thought out forex trading strategy and trade with their emotions.
2. Dennis also taught the traders to play great defence first. This meant strict money management to protect their equity above all else.
Just like any great football team you build from the back.
There is no point in having a great offensive line, if your backs can't protect you and it's the same in trading.
The Key Combination
Dennis essentially knew that you can teach anyone a trading system - but that's not enough, you need to combine this with mental discipline.
A lot is written about discipline in trading yet, few new traders really understand how hard it is to maintain it.
To keep executing a trading system when it's losing is tough!
Of course all systems will lose and you have to have the confidence, discipline and money management in place to ride the period out.
Could You Be Successful?
The story of the turtles actually inspired me to trade back in the eighties.
The reason it's so inspiring is because it shows anyone can make money with the right mindset and the right education.
Sure not everyone is going to become as rich as "the turtles" - but the opportunity exists and everyone can earn an income that more than compensates for the effort.
So the moral of the story is work smart, get a simple system, have confidence in it and apply it with discipline - if you can do that your on the road to currency trading success and a life changing income.
by kelly price
Here we are going to look at the story of "the turtles". If you don't know who they were, then you should study this group of traders, as learned to trade in just 14 days and made $100 million, in just 4 years! There is much to learn and it's an inspiring story, so let's look at it.
The story begins in 1983, when trading legend Richard Dennis decided to prove that anyone could be a trader, if they had the right mindset, the right education and the right trading system.
He picked a group of people who had never traded before.
This group consisted of both sexes, various ages and various levels of academic achievement and variety of occupations from a security guard to a boy fresh from school.
He then set about teaching them to trade in 14 days.
He set them up with trading accounts and the results were astounding:
This group of traders went on to make $100 million in four years and many went on to become trading legends.
So what can you learn from the experiment?
The first lesson is, anyone has the potential to be a successful trader and every thing about currency trading can be learned.
Secondly, if you have the right forex education you can do it quickly, 14 days is not a long time to learn any trade!
Hang on! - You maybe saying:
If everyone can learn to trade, why do 95% of forex traders wipe out their accounts?
When Dennis taught the turtles, he used a simple method - but he rammed home two:
1. You need to have mental discipline to follow any system because if you don't, you have no method at all. He made sure that the traders knew exactly how and why the system worked, to give them the confidence and discipline to follow it.
Most traders simply never get confidence in what their doing, as they follow others or simply have no well thought out forex trading strategy and trade with their emotions.
2. Dennis also taught the traders to play great defence first. This meant strict money management to protect their equity above all else.
Just like any great football team you build from the back.
There is no point in having a great offensive line, if your backs can't protect you and it's the same in trading.
The Key Combination
Dennis essentially knew that you can teach anyone a trading system - but that's not enough, you need to combine this with mental discipline.
A lot is written about discipline in trading yet, few new traders really understand how hard it is to maintain it.
To keep executing a trading system when it's losing is tough!
Of course all systems will lose and you have to have the confidence, discipline and money management in place to ride the period out.
Could You Be Successful?
The story of the turtles actually inspired me to trade back in the eighties.
The reason it's so inspiring is because it shows anyone can make money with the right mindset and the right education.
Sure not everyone is going to become as rich as "the turtles" - but the opportunity exists and everyone can earn an income that more than compensates for the effort.
So the moral of the story is work smart, get a simple system, have confidence in it and apply it with discipline - if you can do that your on the road to currency trading success and a life changing income.
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