Forex Scalping - Day Trading the Smaller Moves For Big Gains

The forex scalper who day traders does not look to make big profits per trade he seeks a lot of small profits over time that mount up and yield huge FX Profits overtime. Let’s look at forex scalping in more detail. More novice traders try forex scalping than any other method and there is a huge industry on the net, which sells courses and forex day trading systems, to help them achieve their dreams. Unfortunately, that’s all they are, dreams - Forex scalping simply has never worked and cannot work. It simply guarantees you will get wiped out. Why? Its obvious and common sense. Millions of traders each day, trade trillions of dollars and to say that you can work out what this huge mass of traders will do in just a few hours, is laughable. ALL Short term price moves are random. Volatility can and does take prices anywhere in daily time frames and support and resistance levels are not valid - you can’t get the odds on your side and you will lose. So Why Do So Many People Do it? Well it’s a good story and the majority of forex scalping systems are sold with one aim in mind: To make money for the vendor! He is much to sensible to trade it himself â€" he makes his money by appealing to greed and selling it to a naive buyer, who then losses. The vendor pockets the profit and the buyer gets a hard lesson in the market that he won t forget. But I Have seen track records that make money! Sure, you have â€" but check the disclaimer and you will see the words - hypothetical and simulated . Now this means that the track record was done in hindsight and simulated - KNOWING the closing prices! How hard is that? A child, or anyone who can read and write can do that! The problem with forex scalping comes when you have to trade not knowing the closing prices, then the reality hits â€" a swift wipe-out of equity. If you really want to prove this for yourself ask a vendor this simple question: Can I please see YOUR track record of real time profits over 2 years or more? Go ahead and try it and see what they say. You won’t get one, or if you do, let me know, I have been asking this question for 25 years and never got one. Forex day trading and profits is a good story, like little Harry Potter and the one the thing they both have in common is their both made up. So if you want to win and make money at forex trading, forget forex day trading and forex scalping and get the odds on your side. This means, trading valid data and getting the odds on your side. Try forex swing trading or long term trend following â€" both can work and you will be trading with the odds. If you want to win at forex trading, then you need to do your homework and at least try methods that trade the odds, with forex scalping you could flip a coin and have as much chance of success. Finally, maybe I am being a bit hard on scalpers and day traders if you find the elusive track record that makes money longer term, send it to me wonder what the odds are of that not happening? NEW! FREE 2 x CRITICAL TRADER PDFS - NEWSLETTERS - TRADING ALERTS MORE On all aspects of becoming a profitable trader including: Free critical trader PDFS, and more FREE Forex Education visit our website at: learncurrencytradingonline.com/index.html

4 Common Sins in Forex Trading

1) Traders become long term Investors How often have you heard of people saying, that they are still straddling on to their losing position in Forex trading, while hoping that the market will make a U-turn in their direction? This happened to most Forex amateurs who may find it too painful to cut small losses and get out of their trades. They are either holding on a position too large or having a large ego to admit that they are wrong. Eventually they will grow tired of watching the prices go too much against them, that they just leave their position hanging there. Many amateur traders deny their loses, just like an alcoholics deny their drinking problems. There is a stark of parallel between an alcoholic and a trader whose account is being demolished by losses. They nurse the fantasy of being able to control their losses, however, nothing will ever change with their self-denial nature. 2) Cheap become Cheaper This is a very common mistake, and those who commit it do so by comparing the current price with the 52-week high of the currency. Many people using this gauge assume that a fallen share price represents a good buy. But the fact that the currency price happened to be at a highest price of the decade. That s why it pays to analyze why the currency has fallen. Deteriorating fundamentals and increased interest rates are all possible reasons for the weakening of currency - but they are also provide good reasons to suspect that the currency might not increase anytime soon. It is important always to have a critical eye since a weakening currency might be a false buy signal, avoid buying currency that simply look like a bargain. In many instances, there is a strong fundamental reason for a price decline. Do your homework and analyze the currency s outlook before you invest in it. 3) Picking High and Low Many started trading Forex without knowing the nature of the market. Unlike the stock market, Forex is very trendy financial instrument and the trend may continues for over a period of few years. Most traders like to be the first one to pick either the high or the low of the market, and they may describe to you the thrill they get from being right are equivalent to flying a plane. However in the Forex market, it favours more on continuation rather than reversal. To be truly profitable in the Forex market, extra cautious need to be taken for initiating a reversal trade. 4) Presuming or Predicting Many amateur traders gambled on hunches and use it to make their trading decisions. Or you may hear your relatives or friends talking about a currency that they heard will get a bull rush, because the economy of that particular country is good. Even if these things are true, they do not necessarily mean that that currency is the next big thing and you should run to the nearest phone to call your broker. Other unfounded tips come from trading professionals on internet who often tout a specific pair of currency as though it s a must-buy but really is nothing more than the flavor of the day. These currency tips often don t pan out and go straight down after you buy them. Remember, buying on media tips is often founded on nothing more than a speculative gamble. Sebastian Sim I m a 31 year old Singaporean. Who started my trading journey since 2004. Now, I focus mainly in Stock Options, Forex and Unit Trusts(Mutual Funds) Investments. I ve started a site The Trading Zone - a site about trading psychology, Forex trading, investments and other topics that interests me from time to time. sebastian-sim.blogspot.com

Seven Deadly Trading Mistakes - Part One

By studying at the most frequent reasons for failure, we can avoid making the same mistakes as the crowd, and thus turn these negative points into positives. In this series of articles, I will be looking at the seven most common mistakes I see made by traders. Mistake Number One - Switching Strategies or The Hunt For The Holy Grail The holy grail of trading - we ve all looked for it - the super system that never loses. We ve searched forums, read books, been to seminars, discussed in chatrooms, but the secret system that wins every time continues to elude us. Why do we waste so much time and effort searching for something that doesn t - cannot even - exist? Because it s far easier than facing up to the reality that trading isn t quite as simple as buying when a magic indicator says buy and selling when it says sell , and watching the endless profits roll in. Actually, it is almost a simple as that, but we ll come to that later in this series. For the moment, the important thing is, that there is no holy grail-always-wins trading system. The grail hunt is a highly destructive behavioral pattern that affects almost every trader at some point in their career. Typically, the trader starts by learning a system or strategy, and trading it for a short period of time. The strategy may prove profitable almost immediately, or may incur an early loss. Either way, sooner or later a loss will happen, and equally inevitably, a run of losses will occur together. At this point, the trader decides that this is not the system for them, and heads off in search of a new method. In jumping from system to system in this manner, the trader never gives a strategy time enough to prove itself over the long term. All systems involve some losing trades, that s the nature of the markets, but as long as a strategy has positive expectancy overall (that is to say, it will on average win more than it loses), those losses are of no importance. Action: As traders, we must accept that fact that losses are to be expected, and stick to our chosen system for long enough to prove or disprove its expected long-term outcome. In doing so, we break the grail hunt cycle and overcome one of the biggest obstacles to our success. As a final note on this subject, I want to add a word about forums and chatrooms. Whilst these are undoubedtly excellent sources of information and ideas, they can be very dangerous in fueling the cycle of strategy jumping. The nature of these resources means that they continually offer new ideas, and to the trader that means new temptations. By all means test out or paper trade new ideas alongside a live strategy, but beware of becoming a forum-follower and re-entering that pattern of always jumping aboard the next big thing . In the next article, I m going to look at trading plans, and why failing to plan means planning to fail. About The Author Harvey Walsh is both a trader and trading coach. He can be contacted via his website, where you can also read more about his day trading book. day-trading-freedom.com

Forecasting Forex with Fundamental Analysis an Introduction

If you are forecasting forex with fundamental analysis you are effectively looking at the supply and demand situation and trying to judge which way prices go. Forex prices respond to the long term fundamentals but you need to avoid the errors most traders make to succeed. What is Forex Fundamental analysis? Studies all the facts in relation to the supply and demand situation of the currency and these are numerous and include: Political factors Interest rate outlook Economic health of the economy Government economic policy And more make up the supply and demand picture These are the facts and all traders see them but they draw different conclusions from what they see - this is the problem for any Forex trader and a problem for the trader following fundamentals. A simple equation for market movement is: Economic Fundamentals Human perception = market movement It is a fact that the markets do reflect the forex fundamentals but traders are emotional so they will push prices to far either up or down. It’s a fact that markets tend to collapse when the fundamentals are most bullish and rally when they are most bearish. So you really need to follow investor psychology as well if you want to succeed. News Is Discounted Instantly Today we live in a world where the supply and demand fundamentals are available to all at the click of a mouse and they immediately show up in price action, so if you try and trade a news story, its been discounted and your playing catch up. The news also relfects the greed and fear of the participants and can be misleading. Will Rodgers once said: I only believe what I read in the papers He was joking but the maount of people who take what the news says witout questioning its logic is huge. For most traders trying to trade the fundamentals is impossible, as prices move too quickly and investor psychology constantly wrong foots them, as prices move opposite to the fundamentals, because investor psychology is emotionally driven. Save Time and See the Whole Picture The easiest way to trade is via technical analysis and forex charts. You have the forex fundamentals covered as forex technical analysis simply assumes they show up in price action straightway and in today’s world of lightening fast communications, this is truer than ever before. Furthermore, you get to see graphically how investors perceive them â€" this is very important and gives the overall picture. A trader using forex charts does not try and work out where prices may go, he sees where they are and acts on the reality as he sees it. This method is less time consuming, keeps your emotions out of trading and lets you trade on the reality of price. A Surprising Forex Fact Forex fundamental analysis is hard for most traders and although news is faster, better and more numerous than ever before a simple fact will illustrate why it won’t help you: The ratio of winning traders is still 5% and it was at this level 50 years ago - despite all the advances in fundamental forecasting. A Better Way to Win It won’t make you a better trader or help you make money it will simply consume your time and see you lose. Trade via forex charts and you will see the whole picture and be able to spot profitable trading opportunities and act upon them and enjoy currency trading success. Forex fundamental analysis is hard and technical analysis for most traders is the better option. NEW! FREE 2 x CRITICAL TRADER PDFS - NEWSLETTERS - TRADING ALERTS MORE On all aspects of becoming a profitable trader including: Free critical trader PDFS, and more FREE Forex Education visit our website at: learncurrencytradingonline.com/index.html

Online Money Transfer Worldwide

The fact that online money transfer has simplified our lives largely cannot be denied at all. When online money transfer first came into light, it eliminated the need to make cheques and send it to another part of the world through postal services, couriers, etc. On the contrary, users were allowed to perform online money transfer worldwide directly from their bank accounts…that too without having to visit the bank personally. The best part about money transfer worldwide is that recipient gets the money in a matter of minutes irrespective of the destination. No matter how remote the place where your friends or relatives are, or your beneficiaries are, you can send him his due in a matter of minutes. Most importantly, you need not even have a bank account to be able to transfer money online. A few online money transfer service providers have developed innovative ways to transfer money worldwide. You can simply register in their website, create an account instantly, charge your account with some money, and send the money to the beneficiary. Your beneficiary needs not have an account to access the money. The provider will take care of it. Popularity that private players have got for online money transfer worldwide has been their rightful due. Apart from instant transfer, one thing that advocates online money transfer worldwide is security. In other words, online money transfer is considered the safest way to transfer money because in case of most operators, the money is constantly tracked via a unique ID. This ensures that not only the money is collected only by the person for whom it is meant, but also its speedy remittance. Today, you will come across many providers of online money transfer services. With the full advent of e-commerce and spreading out of operations by multinationals across the world, online money transfer worldwide is simply inevitable. Transferring large or small sums of money is a matter of few clicks now, as customers sit in the comfort of their home and do most of their banking online. Myself webmaster of epay.vg dealing in Online Money Transfer , online payment gateway, virtual credit cards, virtual debit cards, international money transfer, money transfer services, email payment, mobile payment and other e-currency transfer services

Currency Trading Success - Learn This Method in a few Hours and Target 100% Gains!

Currency trading for beginners can seem confusing, so here I am going to give you a system you can learn in a few hours max which can lead you to currency trading success and gains of 100% or more per annum. I write currency articles but I am not just a writer I am a trader and have been for over 25 years. I am not a self proclaimed expert who will tell you I win every trade I don t but I do know from experience that this method will help get the odds in your favor and lead you to currency trading success, if you understand how to use it properly. In 25 years I have tried lots of different trading methods and the one I am outlining here is the simplest method I use and probably one of the most effective. I call it Fundo-Tech trading and it is as it sounds - a method that focuses both on fundamentals and technical inputs and it s easy to use and apply. You see lots of advertising from vendors how you can predict currency prices with scientific accuracy, all for a few hundred bucks! Well, the answer most of these guys are writers not traders or they wouldn t make such claims. If you want to enjoy currency trading success ignore them - trading is a game of odds not certainties and Fundo-Tech trading is simply designed to play the odds. If you do you will make a lot of money, so let s look at this currency trading system. The fundamentals are for defining strong currencies, the technicals are used for timing entry. Currencies move to the long term fundamentals and that s a fact - that s why the long term trends last for months or years but the problem is: Their hard to trade, as humans we all see the facts, but myself, you and millions of others, draw our own conclusions from what we see and we don t all see the facts in the same way. An equation for market movement is: Fundamentals Human Perception = Price direction. So it s the fundamentals that drive long term trends and humans in between move prices to far in either direction as they are influenced by greed and fear and cause prices to be overbought and oversold - these levels can be seen on price charts and allow you to time your entry. So its pick currencies with great fundamentals and use forex charts to time entry. Now let s take economies with strong currencies. Currencies that rise in value tend to have good interest rate earnings, strong economies, and budget surpluses and export more than they import. Let s take the US dollar The American economy has a huge debt (and so are its people) and the budget deficit is huge and finally, it is a net importer of raw materials ( with oil being major one) that are rising in price. Now let s take a strong currency: The Canadian Dollar. Canada is rich in commodities including oil it sells, has a huge budget surplus and has good interest rate earnings. The Canadian dollar therefore has stronger fundamentals and should rise against the US Dollar and it has. In fact if you check out my other articles I stated this months ago and the currency has soared. Picking the direction is easy, entering the trade with good risk reward is a different matter and is the hard part for most traders. Let s look at how to enter correctly to get the odds in your favor this is the technical bit. When resistance forms it simply means supply and demand are in equilibrium below the level and when prices break to a new high supply and demand are out of synch. The key is to buy breaks of resistance on rising momentum in strong currencies - were not looking to buy lows! This is called breakout trading and it s a fact that most of the biggest moves come from new highs NOT market lows. Forget all the buy low sell high is a great way to trade - it s not as you will miss the best moves - waiting for pullbacks that never come - when prices break they accelerate away from the breakout point quickly and the odds are in your favor, if you go with the break. They key is to use momentum indicators to confirm the break so you know price momentum is accelerating. Does this method sound simple? Well it is - but that doesn t mean it doesn t make money it does and you can see it graphically in a trade such as the Canadian Dollar. The best currency trading systems are simple as they are robust in the face of ever changing brutal market conditions and have fewer elements to break than complicated ones. Another key to currency trading success is understanding the logic of your currency trading strategy so you can have confidence in it and this one is easy to understand and apply. You can learn it in a few hours and you should be able to apply it in around 30 minutes a day. No intra day monitoring is needed. So if you want a simple way to make money and enjoy currency trading success, try the above blend of fundamentals and technical s, and get on the road to bigger FX profits. BECOME A PROFESSIONAL FOREX TRADER FROM HOME GRAB: 2 X CRITICAL PDFS AND MORE For free 2 x trading Pdf s with 90 of pages of essential info and an exclusive Forex Trading Course visit our website at: learncurrencytradingonline.com/index.html

Online Investing

Online trading has caused a major paradigm shift in investing. At the turn of the millennium, there are over 6 million online investment accounts, up from 1.5 million in 1997. As a result, start-up firms now compete directly with financial institutions to serve investors in the new Economy, and the clear winner is the customer. The competition between the brick and mortar institutions and the Internet-based companies has dramatically lowered the costs of investing, and empowered the individual investor to take control of their own investment strategy. On-line trading will revolutionize the currency markets by making it accessible to the small and medium sized investor. For the first time, these investors have the ability to execute transactions of between $100,000 and $10,000,000 at the same prices the Interbank market offers for deals well over $10,000,000. This benefits both those who wish to speculate on the direction of the currency markets for profit, as well as the money manager or corporate treasurer looking to hedge against unwanted exposure to future price fluctuations in the currency markets. I am going to discuss the Benefits of Trading Forex. Very few on-line brokers are able to offer their clients real-time bid/ask quotes, which facilitates instantaneous deal execution - no missed market opportunities. Real-time prices also allow investors to compare an on-line broker s dealing spread with that of other pricing services, to ensure they are receiving the best possible price on all their Forex transactions. Many on-line Forex brokers require their clients to request a price before dealing. This is disadvantageous for a number of reasons, primarily because it significantly lengthens the execution process from just a few seconds to possibly as long as a minute. In a fast paced market, this could make a significant difference in an investor s profit potential. Also, some of the more unscrupulous brokers may use the opportunity to look at an investor s current position. Once they have determined whether the investor is a buyer or a seller, they shade the price to increase their own profit on the transaction. Timing is everything in the fast-paced Forex market. On-line trades are executed and confirmed within seconds, which ensures that traders do not miss market opportunities. Even the incremental extra time it takes to complete a transaction over the phone can mean a big difference in profit potential. Introduction simply, executing trades electronically reduces manual effort, thereby lowering the costs of doing business. On-line brokers are then able to pass along the savings to their client base. The fast-paced nature of the Forex market compels traders to execute multiple trades each day. It is vital for each client to have real-time information about their current position in order to make well-informed trading decisions. Access to timely and relevant information is critical. Professional traders pay thousands of dollars each month for access to major information providers. However, the very nature of the Internet affords users free access to reliable market information from a variety of sources, including real-time price quotes, international news, government-issued economic indicators and reports, as well as subjective information such as expert commentary and analysis, trader chat forums etc. The main advantage of the Forex market over any exchange-traded instruments is that the Forex market is a true 24-hour market. Whether it s 6pm or 6am, somewhere in the world there are always buyers and sellers actively trading Forex so that investors can respond to breaking news immediately. In the currency markets, your portfolio won t be affected by after hours earning reports or analyst conference calls. The ECNs (Electronic Communication Networks) exist to bring together buyers and sellers when possible. Andrew Daigle is the owner, creator and author of many successful websites including ForexBoost, a free Forex educational site to learn Forex trading strategies and a ForexBoost blog for additional forex trading info and forex trading systems .

Forex Trading - If It s So Easy To Learn Why Do 95% Of Traders Lose?

Forex Trading - If It s So Easy To Learn Why Do 95% Of Traders Lose? This is a question that most traders don’t even consider, yet the reason behind it is critical to your success. Currency trading can be learned by anyone - so why do 95% of traders lose? Let’s look at the reason and its implications for you. Before we start lets consider a forex trading fact: 50 years ago 95% of traders lost money and the same ratio do today. This may strike you as a startling fact. In this time we have seen better and more frequent news, the computers we have, are more powerful than the one that landed man on the moon, software and forecasting tools have advanced beyond recognition and we have a vast amount of information on the internet. So with all these advances 95% of traders still lose? The reason 95% of traders lose is they CANNOT adapt to operating in an unstructured environment â€" this requires a mindset that is beyond most people to comprehend. You will hear a lot about discipline and how it’s the key to success and it is â€" but it stems from being able to operate in a world without rules and laws â€" the trading environment. Everywhere we go in life our day is structured. We obey laws and rules which order our lives and if something goes wrong we consult an expert. That’s fine in the real world but the trading world requires you devise your own rules and laws and take responsibility for EVERYTHING. The market is all powerful, it moves as and when it wants and it’s always right. Your rules and laws that you create must allow you to make a living from it. To operate in an unstructured environment requires courage confidence and discipline and a deep understanding of what you are doing, your strong and weak points. In everyday life we tend to think that science can solve everything and we are amazed at the advances we see every week but guess what? Using science or technology in the market doesn’t guarantee success. We also consult experts and that s great in real life but guess what? Yes you guessed it â€" they won’t guarantee success either. Sure, there are plenty of people who say they will help you for a few hundred dollars but they won’t guarantee you success as trading success comes from within. Trading is as it’s always been - simple on the surface and far more complex underneath, that why so many people lose. To trade and win you need a deep understanding of what you are doing and the confidence to build your own reality and see the truth. If you can’t do this, you will join the 95% of people who lose at forex trading and if you read this article now or in 50 years time, that statistic will still be the same. The good news is - if you have a willingness to learn and can take responsibility for your actions, you can succeed where 95% of traders fail and enjoy currency trading success and make huge profits consistently â€" Good luck! NEW! PROFESSIONAL FOREX COURSE AND FREE TRADING PDF s For free trading guides and an exclusive Forex Trading Course visit our website at: learncurrencytradingonline.com/index.html

Use of Stop and Reverse (SAR) in the Forex Markets

Use of Stop and Reverse (SAR) in the Forex Markets Stops and reverses are important. Think of it like this. Why do you use stops? Because your prediction or analysis of the markets suggest that the stop area is the price in the markets from where the market can turn. If this is not the reason than why does one use stops? With this analysis of the forex markets or any other form of markets rises another question. Should we use reverses. The only question you will ask at this point is what if the second stop is hit and the result is two trades in a loss? I have often been asked this question and my answer is that if you are too scared to take the losses in trading than you should not trade. Taking profits and not the losses is like breathing in and not breathing out. The whole process of respiration has to be completed. Think of the reverse as a new trade. The important thing I want to emphasis on again is money management. Two trades with low risk will not hurt you as much as one big loss. Keep the losses small and risk only 1-2% of your account in any given trade. The strategies I give my clients are low risk opportunities so that they can keep their losses low. So reverse your direction with the stop only where it is advised and keep the risk to absolute low. There is no such thing as no risk in the markets. We always look at the risk and reward ratio and positive expectancy. Adnan Kaleemi is a Registered Commodity Trading Advisor and has been advising Forex traders all over the world in more than 60 countries for the last five years. He is currently registered with the commodity and futures trading commission in the US. He reaches global forex traders providing forex stop and reverse strategies and forecasts in the major currency pairs EURUSD,GBPUSD,USDJPY and USDCHF along with money management techniques . At forexforecasting.com you will find informative articles, newsletters and other tools which will help transform your Forex Trading.

What Is The Best Forex System Trading Program?

What Is The Best Forex System Trading Program? What is the best forex system trading available? Is there a best trading system? What kind of systems are there? What is a system anyway? What System Trading Is Before we can even start the search for the best forex system trading program available, we have to know what system trading is. Otherwise, how would you know what you re looking for, and on what basis are you going to measure what you find? What is system trading anyway? System trading is the concept of having a preset of rules that defines as much of your trading as possible. These rules include the following areas of: Entry Rules Exit Rules Portfolio Risk Rules ( Money Management ) Compounding Rules Scaling In/Out Rules When Not To Trade Rules And Other Criteria By following predetermined rules, you don t have to re-think each time a particular situation comes up in the markets. The idea of having rules is to remove as much trader discretion as possible to the point where trading can be automated. Types of Systems While there are various types of systems, they all fall into pretty much the same broad categories. These categories are: Trend Following Systems Counter-Trend Trading Systems If you ve already studied trading for some time, you ll realize that each particular category has its own share of advantages and disadvantages. There will be times when Trend Following Systems make huge profits because the markets are consistently trending. But the moment markets stop trending and start consolidating, then trend-following systems tend to get whipsawed, creating more losers than winners. On the other hand, Counter-Trend Trading Systems experience more losers when markets are trending. This is because by nature, counter-trend trading systems attempt to pick tops and bottoms within consolidating markets. But when markets consolidate, counter-trend trading systems excel in making short term, quick profits in sometimes almost rapid succession. Choosing A Forex System To Trade Ultimately, there is NO BEST Forex System Trading Program. It depends on what you want to accomplish with your trading. If you already have a trend following system, you might want to diversify part of your trading capital into a counter-trend trading system, and vice versa. The rule of thumb, again, is always manage your money with your eye on RISK first, before returns. Wishing You Smart and Profitable Trading! Ryan Lee Daniels Smart Trading For Profits The Forex Trading Education Blog Site

Forex Ondulatory Pattern

The Forex market has a characteristic that makes it kind of special. It oscillates constantly during the whole trading session (a session that is as long as practically an entire week); in other words it has waves. You can see this characteristic easily by looking at any of the forex charts that are easily available from the web. As the clock ticks, the prices of the different currency pairs oscillate in particular patterns that seem to have a special repetitive behavior imbedded, you feel you could almost guess the next oscillation, or at least that s what you think from your first impression. You can t help thinking there is a possible use hiding behind those oscillations that can make forex trading an easier task. You should learn that you are not the only forex trader wishing for a way to use those Oscillations as a tool for a more profitable Forex trading. There have been many others before you, but there is one that really found that useful tool behind the waves others were only wishing or, his name was Ralph Nelson Elliot and he also observed that the market had strong trends that seemed to follow a repetitive pattern in all the different time frames. After analyzing a great number of charts he discovered in the late 1920 s that the markets move in a repetitive manner that is far away from being a totally chaotic behavior. In other words he found he could predict the next movement of the markets with great accuracy by using his recently created analysis. What he found is what is known now as Elliot waves. These waves are based on his discovery that showed that the wave patterns on the markets had a fractal nature. This means that the patterns not only repeated with time but that in a given period of time the characteristic wave pattern would repeat at different scales (days, hours, minutes). For more information on Forex visit my website: 1-forex.com

Is Forex Trading For You?

Is Forex Trading For You? In Forex trading you will find that it offers several advantages over stocks and shares. Lets us take a look and make comparison between these 2 financial instruments; A substantial attraction for participants in the Forex market is that it is open 24 hours a day. It allows the participants to exit or open a new trade regardless of the hour. Traders can respond to breaking news immediately and Pand L is not affected by after-hours earnings reports or analyst conference calls. Next, we will explore the superior liquidity in Forex trading. Forex traders do not have to worry about being wedged in a position due to a lack of market interest. As the average trading volume is 50 times larger than most Stock Exchanges, there are always brokers or dealers willing to buy or sell currencies in the Forex markets. The liquidity of the Forex market, especially the major currencies, helps ensure price stability. Traders can almost always open or close a position at a fair market price. On the contrary, traders in the stock markets and other exchange-traded markets are more vulnerable to liquidity risk due to a lower transaction volume. Comparing with Equities, Forex offers a greater Buying Power. Forex traders are offered 100:1 leverage by major online Forex dealers, which is substantially beyond the common 2:1 margin offered by equity brokers. Unlike most of the stocks which require you to fork out a few thousand dollars to trade just a few lots, in Forex, you are able to open an account for just USD400. For those with a low start up capital, it is much more cost-efficient to trade Forex in terms of both commissions and transaction fees. Some brokerage house charges a fixed commission for the each currency traded, and at the same time offering zero to 1pip (the minimum increment of any currency) spread(the difference between the buy and sell price). Another advantage of the Forex market is that there is no bear market; per say. Currencies are traded in pairs, for instance, US dollar versus YEN or US dollar versus Swiss Franc. Trading always involves buying one currency and selling another. The potential for profit exists as long as there is movement in exchange rate regardless of which way the market is moving. This means a trader has an equal potential to profit in a rising, or falling market, provided you pick the right side; potentials profit ALWAYS exists. Sebastian Sim I m a 31 year old Singaporean. Who started my trading journey since 2004. Now, I focus mainly in Stock Options, Forex and Unit Trusts(Mutual Funds) Investments. I ve started a site The Trading Zone - a site about trading pyschology, Forex trading, investments and other topics that interests me from time to time. sebastian-sim.blogspot.com

Forex Trading With Mini-Lots - A Way To Trade

Many people thinks that in order to enter the Forex trading world they will need to have a fat account on the bank so they can start benefiting from the many advantages offered by the Forex market. But nothing is most distant from the truth. You can trade forex even if you can t gather one grand in your bank account. Fortunately for most independent traders that don t have the huge funding banks have available there exists something called a Mini Account in Forex. It is different from the regular accounts because it uses a different leverage calculation than the regular, 100k accounts. What this will mean to you is that instead of trading full-size currency lots comprising 100,000 units, you ll trade in lots that are just 1/10 the size, this is only 10,000 currency units, which in turn will greatly reduces the risk you take in your trades. Pips in a Mini Account are worth, on average, $1 instead of the $8 to $10 value they have in regular accounts. The Mini Forex account offers up to 200:1 leverage, this means that just a $50 margin deposit will allow you to trade lots worth roughly $10,000 . Again the smaller lot sizes, with correspondingly smaller pip values, means that you ll be assuming less total risk while building enough capital to start trading regular accounts. Additionally, there is no downside to trading a mini account as some may think in a first approach. You will be enjoying all the benefits that full-size forex account holders enjoy; including the same state-of-the art trading software, the same charts, the resources, and tools, etc. We could say that this mini accounts are ideal for new Forex traders so they can develop a disciplined, rational forex trading strategy without excessively focusing on profits and losses when they are still learning. For more details about Forex trading visit my website: 1-forex.com

The Best Custom Forex Indicator For Forex Online Option Trading

If you are looking for the best custom forex indicator for online option trading, you have come to the right place. We have included some of the most common, most simple, yet reliable custom indicator. Currencies can only go up, down, or sideways. Try to remember the old acronym K.I.S.S. when it comes to forex. The simpler the better. After all, keeping it simple is not only easier, it is usually more successful than complicated, cluttering indicator techniques. Forex online option trading can be very profitable but you need to have the best custom indicator to do so. So, without further to do, here is the list of techniques/strategies/custom indicator: The Probability Approach A very simplistic (perhaps too much so) approach to forex. It is as simple as counting. The probability approach is based on nothing more than pure chance. When an options premium is priced it is based mostly on probability, or, the likelihood that it will be profitable. Therefore, if a premium is priced at 50% of the value, then an assumption may be made that there is an estimated 50% chance that this option will turn out to be profitable. Can using this method alone be profitable? Theoretically yes, however due to the virtually unlimited amount of data, it is not known in what order the profitable options will appear. The likelihood of success with online option trading using this custom indicator will be greatly improved upon if you use it in conjunction with the another indicator, such as the one listed below. Support and Resistance Support is defined as a level where price tends to stop as it is moving down, and as a result provides support. Resistance is just the opposite of support. It is where price tends to stop while it is moving up, and thus meets resistance. Support and Resistance (S/R) levels give clarity to predictions of future price movement. When S/R levels are observed price is expected to reverse when these areas are met. When rates break through S/R levels it is expected that new highs and new lows will be reached. Usually S/R occurs when previous levels of support become future levels of resistance and when previous levels of resistance become future levels of support. Following this principle will greatly aid traders in successful predictions. It is important to remember that the best custom forex indicator for forex online option trading is usually a combination of two indicators. These approaches are tried and true. Do not forget to build your confidence and test your methods through a demo account before you use actual money. One last thing, if you are looking for real consistent gains try and find a reliable and effective set of trading strategies. If you click on the link below you will find the best in the business. If you are looking for a way to make consistent profits through a proven forex program then you have come to the right place: fxprofits.info Howard Teel is an experienced Trading Manager that has been involved in the markets for many years. He has been the President of two online trading firms.

Trading Forex - Overtrading

Entire libraries have been written and published on a subject of trading mistakes. Just about every trader with some experience has his own list of pitfalls. They can vary from under capitalization to over leveraging to lack of general market education. While the list can be very long, few mistakes make the list on consistent bases. One of them is overtrading. It is easy to say that, but when exactly does overtrading happen and how do we define it? More importantly how do we recognize it and prevent it from happening? Not one simple answer will be applicable to all traders, as it can only be determined in light of persons trading style. Perhaps the easiest type of overtrading to recognize happens to traders who use clearly define systematic approach. In other words mechanical trading systems. If you are using software generated signals to trade or some other form of auto trading and you start taking more and more trades outside of your system, you are probably ovetrading. This happens usually during period of time when the system is under performing. Since all systems go through weak periods, it might easily happen to everybody. Good news is, this is easy to notice and correct. More difficult to pinpoint is overtrading happening to discretionary traders. Those who do not use mechanical systems are generally speaking trading in a discretionary manner. However, even here traders follow some strategy. These could be price breakouts, reversals, times of day or many, many other possible set ups that trigger a trade. It s good to look at a number of trades say from week to week, analyze both entry and exit points and, of course, results. If you take more and more trades, with slipping results, you might be overtrading. Traders often tell themselves they are “optimizing” their strategy, or employing new method. If that s the case, you can always open additional account to trade another approach. That should make it easier to notice any problems, like nonperforming system, not following your rules or overtrading. Day traders who start leaving position open overnight or find themselves sitting in from of computer longer and longer, are almost certainly overtrading. Just because Forex can be traded 24 hour, doesn t mean it should be. Determine the time of the day most suitable to your lifestyle or fitting your trading strategy and stick to it. Around the clock trading availability is not a trading necessity. Trading too many markets at once. There really is no need for an individual trader to have an open position in 15-20 pairs at the same time. First of all, this uses up available margin collateral very quickly. That can easily lead to a margin based liquidation if enough positions turn against you. Also, this kind of “dart board” approach implies that trader analyzed all those crosses and has a well developed strategy for all. In most cases it very unlikely. Yet another form of overtrading is always having an open position. This suggests, that trade opportunity is ever-present and one always knows what it is. That is simply not possible, furthermore it exposes trader to a constant market risk. Trader who is always in the market is very likely not pursuing well defined trading plan. Overtrading ranks as one of the most common trading pitfalls. Thankfully, it s also the one that is most easily avoided. Unlike intrinsic market risk, this one can be controlled by an individual. Periodical review of trades can show if you are trading more than your trading plan calls for. Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on spectrumforex.com . Spectrum Forex LLC offers numerous services to individual traders. With questions and comments e-mail him at kulej@spectrumforex.com .

The Forex Option Explained

A Forex options when you buy the right - but not the obligation - to buy or sell a particular currency at a particular rate any time between now and the expiration date of the option. Let s say you re worried that the Japanese yen is going to drop in value sometime in the next six months. You might buy an option that basically locks in the current exchange rate for whatever period of time the option seller allows, usually anywhere from 30 days to six months. You set a number of yen, too. Say you choose 10,000 yen at a rate of 116 yen per U.S. dollar for three months. The option basically says, I may want to sell 10,000 yen sometime in the next three months, but I m worried the yen is going to devalue in that time. So I ve locked in this rate of USD/JPY 116. Then three months pass. If your prediction was correct and the yen has weakened in that time -- say it s now USD/JPY 122 -- then you exercise your right to sell 10,000 yen at the rate you bought three months earlier. Everyone else selling yen today (everyone who didn t have a Forex option, that is) is selling it at 122 per U.S. dollar, and you get to sell it at 116. If, on the other hand, the yen has stayed the same or gotten stronger, you are under no obligation to actually sell that 10,000 yen your option talked about. You can simply do nothing, and all you ve lost is the premium you originally paid for the option. Ah yes, there is a premium. Brokers who sell Forex options charge a fee for the privilege. Think of it as insurance; calling it a premium certainly fits. The price of an option for 10,000 yen for three months might be $200, which you must pay up front. If the yen drops enough in value, you ll hopefully turn enough of a profit to make up for the $200 you had to pay. If it increases in value, and you wind up not exercising the option, all you ve lost is the $200 premium. Forex option trading used to be done only by major banks and corporations, but now many brokers who cater to individual traders offer the service, too. If you re a heavy-duty trader, an option is definitely something to consider to guard against future setbacks in the currency you hold. Forex trading is far from an exact science; however, we are very lucky to have the technological advances that we have in todays world. Jason Stepp is a successful online Forex trader who puts his FOREX trading on auto-pilot, using an automatic Forex trading system. If you are interested in learning how you can put an automatic Forex trading system to work for you, check out his blog for more information.

What Is Successful Forex Trading?

What Is Successful Forex Trading? In every aspect of life, mankind sets out to overcome one challenge after another on the way to ultimate victory. This ultimate victory is referred to as success. One way to measure success is by looking retrospectively over the road already traveled to see whether, or how many of, your challenges have been overcome or, alternatively, goals reached. This article suggests guidelines for personalizing your journey to success in the foreign exchange (FOREX) market. Setting the Goals The goals for every FOREX trader are different. Despite the variances, it is imperative that goals are set for achieving anything worthwhile, including success in FOREX. Along the way, goals may require modification based on a more realistic view and as a result of your broadened experience. As a first step, try visualizing your dream. If you have no idea of where you want to go, then you most likely will not arrive at the destination. As a FOREX trader, decide where you see yourself within several time intervals, starting with one year, then three to five years, and ultimately ten to fifteen years from now. If you are trading in the FOREX market, financial achievement and education are two of your main goals. If not, then you will not be in the market very long. Financial goals may be expressed in terms of capital growth according to the specified time periods. Education must be sought as one of the first steps toward your financial freedom. Without it, you may gently kiss the rest of the goals goodbye in this quest for success as a FOREX trader. Executing the Goals Just as great goal-setting requires realistic approaches, executing the steps necessary for attainment must also be done in a reasonable fashion. A careful plan must be laid. The FOREX market, by its very nature, demands reasonableness on the part of the trader as a means of survival and excelling. Take one step at a time, even crawling where necessary in order to enjoy the best of the experience. Focus on being around long enough to allow your entire vision to come to fruition. Of course, this means that taking unreasonable risks is out of the question. Along the way, network with other traders and your mentor or teacher to stay motivated and encouraged. Measuring the Success Success comes when you have made significant progress toward fulfillment of your dream and you are satisfied that your efforts are paying off. There is no time limit on this process, except that which you have set for yourself. If it takes longer than you anticipated, then know that persistent patience can help you to hold it together until you do arrive. In fact, you may surprise yourself and beat your own timetable. It is extremely important that you do not let the financial performance (or lack thereof) of other traders define who you are or what you are capable of achieving. Acknowledge and celebrate their successes as well as learn from and, to the extent possible, avoid their missteps. In the end, your success should be both a true reflection of what you set out to do and the reality of your satisfaction with the outcome. Sandy Robinson, J.D., Copyright 2007 If you are ready to change your future by stepping into the exciting world of trading FOREX, go to winningtradersassociation.com for more information. Author Sandy Robinson, J.D. is part of the Winning Traders Association, an educational organization founded by John Beiler, President. The organization consists of a network of committed trainers and motivated traders willing to provide support to those interested in trading foreign exchange. Many of the members work from home.

How To Lose Your Money In The Forex Market

Recently Forex trading has become one of the most widely spread activities for those who want to make money by trading the markets. The currency markets have many characteristics that make them very attractive to most traders. Mainly, the currency markets are high volume markets with a live trading activity that embraces most of the week and around the clock. Besides most trades are commission free, it offers a huge leverage (100 x 1) and forex is easily accessible by using an internet platform provided by the forex broker you decide to use. But as simple as it may look when you first approach forex trading, the truth is that becoming profitable in trading is not easy. But before you get scared and decide to forget about forex trading, there is also one more truth: the markets are understandable and with the right knowledge and system you can become a profitable trader. Many people has achieved his goal of gaining a full time income from trading and you can too if you do things right. There are many ways to lose money in the currency markets. For example you can ignore using “stops” in your trades and take huge risks thinking you have guessed the direction the market will turn next. Reality will show you that the turn of the market may take a long time to come and meanwhile it will cost you dearly. You can also use a “guessing system” to trade. This kind of approach, even with “stops” will result in making you a frustrated trader that will only keep losing more money than what you earn. There is also a very important factor that can ruin your trades. This factor is “fear”. You can’t approach the markets with fear in your mind. You must be confident about what you are doing and how you will behave as your trade evolves with time. The best thing you can do in order to keep fear out of your trading is to have and understand a good and reliable forex trading system that will show you the way to a profitable trading career. TrendForexSystemReview.googlepages.com

A Simple System To Trade the NFP Report In The Forex Market!

The NFP report is released every first Friday of the month at 8.30am EST and depending on the pair you are trading will move the currency around 100 pips or more. Now many people try to jump into the market just as the report is released which is really not a smart way to trade the report. First the primary direction of the move can be a fake out just taking out stops before it shoots in the other direction. Second the liquidity in the market is gone and the spreads widen to almost 20 pips at times which make it impossible to make money at times. If you trade the report this way it is nothing more than gambling. A much better way to trade the report is to enter the market 15-20 minutes before the report, spreads and liquidity is still at normal levels and you can easily get filled for your position. Trade with the trend use 20-30 pip stops depending on the pair you are trading and place your order before the report, then sit back and watch the show. Around 50% - 60% of the time the report will be in favour of the current trend. Once your position is in profit by 30 pips move you stop to break even. Shoot for around 90 pip profit but always trail your stop behind as you don t want a nice big profit to disappear. This gives us a risk reward of 1-3 meaning we only have to be correct 25% of the time anything more is profits! Do You Want To Make Consistent Money Trading Forex? Dean Saunders has created the *Ultimate* FREE forex trading system that has helped 100 s of Forex Traders become profitable. Click Here and grab your FREE copy of Dean s amazing trading system!

Best Forex Online Platforms Trading

The term forex refers to Foreign Exchange. The foreign exchange market deals basically with the trade of a particular currency for another. It is considered to be the world s largest financial market. The forex market includes various levels and forms of trading. It includes the trade carried out between various banks, currency speculators, central banks, governments, multinational corporations, and various other financial markets and institutions. The main advantage which forex trading has over the conventional New York Stock Exchange and other similar stock exchange markets is that the traders can trade any time of the day. The conventional stock exchange markets limit the trading in the actual trading hours of the market. The best forex online platforms trading is preferred nowadays by most people owing to the fact that it enables forex trading anytime of the day and from anywhere in the world. This is done by giving access to traders of the online community of forex trading through online trading platforms. The forex market is a great success compared to the other stock markets owing to the fact that the currency exchange market of the world operates around the clock. The prime requisites for a trader thus are time, money, a computer with the Internet facility and a telephone. The traders or the banks just need to log in to their forex trading account to start trading. The best forex online platforms trading are also highly beneficial owing to the numerous advantages. The forex market is estimated to witness the trade of around one trillion dollars. The primary process can be understood in simple terms. It involves the trading of one country s currency for another country s currency. The best forex online platforms trading are also the fastest and the most efficient modes of online forex trading. The traders can gain large profits owing to the structure of the market. Ricky Lim is the owner of learn-forextrading.net where he has forex tutorials and tips on forex currency trading for beginners .

The Key To Success in Online Forex Trading

In our highly connected world today, trading the foreign exchange (forex) market over the internet is one of the coolest ways in the world that I know of to make a living. Anybody who tells you that forex trading is a quick and easy path to riches either A: is a total moron and is trying to make a quick buck selling erroneous information, or B: has a vested interest in seeing you fail as a trader. However, anybody who tells you that it is impossible to make alot of money through forex trading is also sorely mistaken. Yes, it is possible to make a large, almost obsenely large, amount of money through trading the forex market using only a laptop, but it is not easy to get to a point where you can consistently place profitable trades. I could go on and on about how sucessful forex trading takes time, education, emotional control, and experience, but there is one single thing that I have found is much more important than all of these things if you want to have a successful forex career. And that one thing is... .......... (Wait for it) .......... Your MINDSET, and how you perceive trading the forex market. This is the hardest part for most people to truly understand and use with their own trading, but if you can fully harness and implement the following information into your forex trading, you will experience unprecedented success and you will become one of those people who can travel anywhere in the world and answer to nobody. (Just as a sidenote, if you do get to this point, I recommend checking out something called an economic citizenship program, where you can become a citizen of a place like Panama by investing in certain organizations. You can get a new passport so that you can go anywhere in the world, anytime you want, and no longer answer to a draconian government that seeks hegemonic control over its citizens.) The problem is... most people who have had difficulty with their forex trading view the market and their trading platform only as a way to make money, and they become emotionally attached to the money in their trading account and subsequently, each trade that they make with this money. The key to success in online forex trading is to view your trading platform as a GAME that you play, where the objective is to collect or capture pips. The more pips you gather, the better you are at this forex game. Now this is easy to say, but it can be different when you are really at your computer making those trades. The one thing I must empahsize is that when you adopt this new mentality and you view forex as only a pip collecting game, the biggest change that you make is that you are now completely emotionally detached from your trading. For this reason, you can view your winning or losing trades from an objective, outside perspective, and it will be easier for you to devise a winning strategy since you are no longer blinded by emotion. ---Exercises For Developing The Proper Forex Mindset--- There are two things that I recommend doing if you want to slowly change your perception to where forex trading is nothing more than a game where you win by getting pips (and few games in the world can be as profitable as this one). First, I will introduce to you something that I call risk capital. In short, risk capital is money that you would like to grow, but if you lost it then it would not have a big impact on your financial situation. You want to make sure that the only money that you ever put into a live trading account is risk capital, which is just extra disposable income that you do not need to pay the bills. Second, you want to make extensive use of trading demo accounts. If you already have a broker or a trading platform that you prefer and are comfortable with, the best thing to do is to open at least one demo account with this same broker. As you should see, trading your demo account will look and feel EXACTLY the same way as your live account will. The only difference it is not big deal if you lose money in your demo account, since it isn t real. What you want to do is get to the same point after trading your demo account that you feel the same way about your live trading account, where it is no big deal if you lose money. Spend enough time trading your demo account on the same platform that you trade your live account on, and your subconscious mind and a part of your brain called the visual cortex will begin to associate seeing this forex trading platform with Oh, a demo account. No big deal, its just fake money after all. This is where you want to get, and it will become nothing more than a game for you. It just so happens, though, that this game will fund your next month long trip to Monaco, and will elevate you to the status of a High-Net Worth Individual (net worth exceeding $30 million USD) and beyond. I suppose it is ironic that the less you care about how much money you are making, the more you are actually positioned to make. Godspeed. My name is Marcus Masters, and I hope you can use this and other information to make a ridiculous amount of money in forex. Read more about successful forex trading at Forex-Prosperity.com

How To Become A Millionaire In 8 Years Or Less

Contrary to most people s experiences, the FOREX market is not a voracious black hole that seeks to swallow up your hard earned money. The FOREX market is simply a market like any other market, whether you are selling bushels of wheat, fresh fish, or currencies. It has no agenda to deprive you of your cash. It s just a harmless ol teddy bear that needs to be cuddled and loved. And, if you learn to love it, it will love you back, and in very generous and tangible ways. On the other hand, if you are determined to think of it as your enemy, then you have no choice but to defeat it; and, of course, it will fight back. As any professor of quantum physics or spiritual leader will tell you, how you perceive a thing will determine how that thing will respond, it s a principle of cosmic proportion. There are several features of the FOREX market that makes it extremely lovable to some and an enemy to others. One prominent feature, is the high degree of leverage it allows. Recently, a major broker has allowed accounts of up to one million dollars in size to be traded at 1:400 leverage. This ability to leverage and control a phenomenal amount of currency is, of course, a double-edged sword, depending, on what you do with it. What you should not be doing with it, however, is to directionally trade with it. Unless, you have a desire to be a FOREX martyr. Another wonderful feature of the FOREX market is that some currency pairs have very strong opposite correlations. For example, the EUR/USD and CHF/USD historically travel in opposite directions; when one pair goes up, the other pair goes down. Consequently, if you buy certain quantities of both pairs, it is possible to keep your trades open day after day for months at a time, without ever having to set a stop loss . Finally, there is the wave characteristic of how currencies move. Actually the entire universe consists of nothing more than wave patterns. Currencies, like all things in the universe, rise and decline. It s even more predictable than death and taxes. This, of course, means that you should consistently be able to buy low and sell high, which of course is the secret to profitability in every market. These three features allow for phenomenal opportunities to generate significant profit over the long term. It is quite possible for a trading system that capitalizes on these features to consistently double a trader s account annually. The key word here is consistently . If you consistently generate 6% profit per month, compounding, in your FOREX account, your account size will double in a year. A trading system that consistently performs at this level will turn $5000 into approximately 1.2 million in eight years. Is it possible to become a millionaire in eight years or less, starting with only $5000 in your account? Wouldn t you like to give it a try?

Currency Trading

Currency The currency market is one of the most popular markets for speculation due to the enormous size of currency trading and liquidity. Any currency has a value relative to all other currencies in the world. Currency trading has many real benefits over equity trading like the stock market. There are two reasons the relative value of a currency fluctuates. The first is as outside investors or visitors buy things within a country, they are driven to convert their domestic currency into the currency of the country they are buying within. The second force for currency fluctuation is speculation. This speculation can have extreme consequences on a nation’s currency and consequently on a country’s economy. Trading If you do not have experience in the field of currency trading, you need to at least have knowledge. The attraction to the currency trading market has led many people to look for currency trading courses. These types of course can help prepare you for the exciting world of currency trading. For a deposit of just $2,000 an investor can leverage $100,000 worth of foreign currency or $50 leverage for every $1 invested. The heavy buying and selling in the currency market can drastically impact the value of the currency itself. Trading currency allows traders to earn profits during rising and falling markets. Unlike stocks, there are no restrictions on short selling in foreign currency trading. The “ask” is the price at which a market maker will sell the base currency in exchange for the counter currency in which you can buy. The “bid” is the price at which a market maker is willing to buy the base currency in exchange for the counter currency in which you can sell. The spread is how the market maker and the introducing broker are compensated for their work. The spreads for currency trading are extremely low, making the cost to a trader very low as well. One of the most important differentials in currency trading is timing. As traders feel a given currency will perform strongly or weakly, they will buy or sell accordingly. However, most traders agree that the currency market is no place for beginners. An individual has to take into consideration technical and fundamental data and make an informed decision based on his perception of trading market sentiments and market expectations to become a profitable trader. Every trader has to be aware of the events going on in the market, and also has to understand the subtleties of the market to safely trade. Conclusion If you are seeking new opportunities why not investigate what currency trading has to offer? Once you have decided that currency trading is right for you, it’s just like learning to ride a bike. This type of trading is a challenging and profitable opportunity for developed and experienced traders. However, before choosing to engage in currency trading you should carefully consider your investment or trading objectives, level of experience and appetite for risk. But most significantly, do not trade money you cannot afford to lose. Since 1995 AvidTrader has provided trading ideas that help you to make money. The last place you want to try navigating alone is the fast-moving financial markets. And at AvidTrader, you are not alone. AvidTrader led the way in March 1996 with its live Traders Chat. Members of AvidTrader can share their own ideas and strategies with each other on a daily basis in real-time. Go to AvidTrader.com or visit our blog at avidtrader.blogspot.com

Forex Trading - These Traders Make Millions After Just 14 Days Studying!

There were a group of traders nicknamed the turtles who were taught by trading legend Richard Dennis and the only thing they had in common was - they had never traded before. After 14 days they started to trade and made millions but how do they do it? First let s look at the background to the experiment. Richard Dennis believed that everything about trading could be specifically learned and his partner Richard Erkhard disagreed, so Dennis set out to prove his point. He collected a diverse group together - of all ages, both sexes and varying levels of education. The group contained a Boy fresh from school, a female auditor, a security guard an actor and a couple of professional card players, to name a few. Dennis then set about teaching them a simple method and the discipline to trade the method. After 14 days they were all set to trade and they started and made him over $100 million dollars and many of them still trade today. So what was their secret? The answer is Dennis taught them a simple method but he taught them to have confidence in what they were doing so they would have the discipline to follow their method through periods of losses to achieve long term forex trading success. What can you learn from the turtles? The first point is anyone can learn to trade, if they have the right forex education, as forex trading is a learned skill. Secondly, your method does not need to be complicated - but you need to have confidence in it. Trading is as much in the mind as it is in your method. If you keep your method simple, you are more likely to understand it and be able to execute it with discipline furthermore, a simple method will tend to work better than a complicated one in the brutal world of trading, as there are fewer elements to break. One of the keys to the turtles success was their money management techniques. This is a neglected area for many forex traders and most do it simply as an after thought. If you want to win at forex trading, you need to operate a rigorous and well thought out money management plan. Could you be successful? Yes - anyone can, you may not be as successful as the group above - but you can achieve currency trading success as it s a learned skill. Today, many traders think they can simply buy success and there is a huge industry in selling systems with simulated track records that greedy traders buy and of course they don t win. You don t buy success for a few hundred dollars and no effort! Not only are most of the trading systems junk - but any trader must learn that success comes from within. Having a successful method is essential - but so to is having the confidence and discipline to follow it - if you don t have discipline to follow your method you don t have one at all. Dennis made sure when he taught them that they understood what they were doing so they could have confidence and discipline to follow their plan. In forex trading mindset is just as important as knowledge. Forex trading is not a walk in the park and you wouldn t expect it to be, with the rewards on offer but if you have a desire to succeed and you a willingness to acquire the right knowledge and adopt the right mindset you can win. Forex trading offers limitless opportunities for those traders willing to put in the time and effort to learn a method they can have confidence in and follow with discipline. Sounds simple? In essence it is - but you must accept you are in charge of your own financial destiny and you must work smart to win. Understand the above and you can enjoy currency trading success. PROFESSIONAL FOREX TRADING COURSE AND FREE ESSENTIAL INFO For free 2 x trading Pdf s with 90 of pages of essential info and an exclusive Forex Trading Course visit our website at: learncurrencytradingonline.com/index.html

Best Small Business - A Proven Business Opportunity for Big Profits

Here you will find a business that costs very little to set up, can be run in an hour a day, can make triple digit annual profits, there is never a recession either and has almost no overhead. What is it? Let’s find out. This business is being a currency trader form home â€" If you have never considered this as a business, read the advantages below and you will see why this is such a great opportunity. - You can open a trading account on line with $500.00 or less. - You will be granted leverage of 100:1 allowing you to trade $50,000.00. - Your overhead is low all you need is a computer and an internet connection. - You don’t need any staff, premises or stock. - Anyone can learn currency trading â€" (We will return to this point in a moment) - There is never a recession as one currency rises another must fall and vice versa. - You can run this business in around an hour a day from anywhere. - You can take holidays when you want. - It has the potential to make outstanding gains. This business is one that puts you in control and allows you to take charge of your financial destiny â€" but how easy is it to learn? Consider This Story... In 1983 legendary trader Richard Dennis taught a group of people who had never traded before to trade financial markets, in 14 days. He then sent them off to trade and they made him $100 million and went on to become some of the most famous traders of all time. The fact is that trading can be learned by anyone willing to put in the time and effort â€" you may not become as successful as the group above but they show the potential. The effort you need to put in to the rewards you can receive, are staggering - and this is one business that represents the opportunity of the free market economy at its best. The Key to Success in This Business The real key to the success of this business is dealing with leverage. As we said earlier you can leverage your money and on a $500 deposit, you could trade $50,000 if you wanted and this will magnify both gains and of course losses. How you deal with leverage will determine how well you do in this business. The best way to trade is to look for repetitive chart patterns and trade on these. It’s a fact that all currencies trend for months or years and reflect the underlying health of the economy they represent. By looking for repetitive chart patterns you can lock into these trends for profit. An Opportunity and a Challenge Most traders lose at forex trading (95%) and this is mainly due to the fact that most traders don’t treat it as a business â€" they lack the right knowledge and trade with their emotions, they have no plan. If you are prepared to do some homework and have the desire to succeed, then you have the potential to be a financial trader form home. The rewards for those who can turn this opportunity into profit are enormous. The opportunity is there but the question is - can you see the potential and are you up for the challenge? Discover forex trading from home and you may be able to change your financial future forever. DO YOU HAVE WHAT IT TAKES TO BE A PROFITABLE TRADER? FIND OUT ! Get newsletters, systems and some critical FREE FOREX Trading PDF s to give you the facts on how to become a professional trader and get more great forex info at: learncurrencytradingonline.com/index.html

Trading Goals, Do You Have Them?

Trading Goals, Do You Have Them? Do you know what you are really looking to achieve when trading? Did you set some goals to work toward? Do you know why you want to achieve the goal set? Do you know what is needed so you have a chance at achieving you goals? If you do not have goals and a plan on how to achieve what you want then you are like a sailboat without a rudder in the ocean, you will just drift away in the direction the winds and currents will take you. You have no control! Setting goals is an important step in achieving the things you want in life. Sure you can achieve things without setting goals and creating a plan many have, however by setting goals and having a plan to work, you become more focused and more self-conscious at details to help accelerate your progress. We can break down goals into all different categories such as personal health and fitness, spiritual, family and relationships, career, education, investments and financial to name a few. Within each category we choose to create goals you should create sub-categories. So for the financial goals one of the sub categories would be trading goals. Now as a general statement, all that decide they want to become a trader want to make money. That is a statement made to oneself, but not necessary a goal as I never met anybody who decided to become a trader to lose money. So what are goals and how is the proper way to create them in order to achieve them? All wants in life come from dreams, desires and needs. From these dreams, desires and needs goals are created. The process starts with creating a list of dreams without allowing your mind to put limits on those dreams. Do not allow your current situation or current condition to limit your thoughts of your dreams. Create your dream list, as there are no obstacles. After you have created a dream list, the next process to do is review your dream list and review each item and see if it is a realistic dream, desire or need within your current conditions in your life. If a dream was to live in a two million dollar home on the ocean off the Florida coast and your current job was earning you $25000.00 per year and you had very little savings, that dream would not be a realistic dream under current conditions in your life. Now if you willing to make a drastic change to a profession which would give you higher earnings or you find a way to make your savings work better for you by becoming an astute investor or a trader you will have a more realistic chance at achieving your dreams and goals. The key is making sure the dreams and goals are realistic and believable to you. Some goals you create will be easy to obtain while other more significant goals need to be a challenge, you need to push yourself outside your own comfort zone. So you decided you want to become a day trader to earn the extra money, which would be needed to buy your dream home. One of your goals is now to own a home on the ocean. When creating goals you need to write them out on paper or better yet on your computer for easier updating capability. When writing out your goal you need to be as descriptive as possible. Do not just write I want a house in Florida on the ocean. Be creative with your dreams and goals, let your imagination run wild. What style home do you dream of? A ranch style or a two-story home? 4000 square feet or 10000 square feet? What are the colors? How many bedrooms and bathrooms does it have? Can you visualize the lay out? Does it have a pool in the backyard? If so is it kidney shaped or a rectangle shape? If so write it out. The more details the better. There will be times when you create one goal and you will find you need to set another goal which will be needed to obtain the bigger goal you created. Think of goal setting like a recipe needed to create a fancy meal, or to bake a cake. If you leave something out of the recipe you are gambling on the outcome of that recipe. If you plan is becoming a profitable day trader, what are the obstacles that might be in the way? What is needed to help you achieve you goal to becoming a day trader? Examples of some obstacles would be: 1. Having sufficient money to fund your trading account. 2. Having the proper education to becoming a profitable trader. 3. Is your spouse or partner supporting your idea of becoming a day trader? 4. Does your current job or profession time schedule cause a problem to working toward obtaining your goal? 5. Is there a local or Internet group for support? 6. Finding the right broker for my needs. The above are a few example’s of some hurdle’s you have to jump to get you on your way to achieving you goal as a day trader. To overcome the obstacles you might have you will need to work on possible solutions. If one of your obstacles is your need to find more liquid cash to help fund your trading account. You would need to carefully think and brainstorm ways of doing so, maybe you had an old collection of coins or other collectables you could sell to raise the needed capital. If there is a will there is a way! Each person will have his or her own obstacles to get by. Always make sure it is money you could afford to lose and that it will not alter your current life style. Do not put unrealistic deadlines on your goals and dreams. Some of your goals might be ongoing with no deadline, other simple type goals will have deadlines. Looking at the above obstacles you can see that some of the above could be met within days or a week at most. The proper education could take months or more. Even with that, you would have a continued goal to keep improving as a trader for years to come. The goal of having a home on the ocean might take some years to achieve, which can be predicated, on the goal of becoming a successful day trader. By breaking down what is needed to become a successful day trader comes the need to itemize smaller goals. Creating daily tasks that work on helping you in achieving your goals is key. Create a daily plan of attack and work you plan each day. Stay focused and look back over each day to make sure you made progress. Always create smaller goals, which can be met on a day-by-day basis that will give you the energy and encouragement to work on achieving the larger goal. Some other key components you will need to work on are the psychological components. If you need to improve on having more patience, create a goal in descriptive written detail of you showing great patience while trading. If you need to improve on being more decisive do the same exercise as with patience. The key is becoming more aware what truly is needed to obtain your goal. It’s not as simple as just saying I want to become a successful trader. You first find the recipe and gather all the ingredients and work them in together. The key to achieving your goals is you taking your time and being careful to do all that is necessary to get to the end result. Working on all the small details everyday and concentrating and giving key focus to the daily task and seeing daily progress. A quick review for setting goals 1. Create a dream list 2. Review the list to see if the dreams are realistic, practical and believable. 3. Write out a descriptive detail of you dreams into a positive statement as it is already achieved. 4. Create a list of all obstacles you will need to over come to achieve your goals. 5. Create a sub-list of goals that can be worked on that can be achieved within a week’s time. 6. Create a daily plan of attack and work you plan. 7. Create a daily task list to work on each day. 8. Review each day, week and month to review your progress. 9. Always adjust your goals higher once you achieve the set goal. 10. Always have continuous goals that are never ending. 11. If you run into a stall, a problem or a set back always look for a different angle to try. 12. Never give up! If there is a will There is always a way Steve Rifkin S.E.R. Enterprises, Inc. One Northfield Plaza, Suite 300 Northfield, IL. 60093 Visit The Power of the Force at NaturesForceTrading.com steverifkin@naturesforcetrading.com 847-441-3205

The 1 Pip Forex Trading System!

With so many people on the look out for a good forex trading system I decided to write a simple forex system I have used in the past with good results. The system is called the 1 pip forex trading system. You will need a 15 minute candlestick chart of your favourite currency pair. Green candles for bullish candles and red candles for bearish candles. This trading system requires monitoring the screen while you are trading but it rewards you greatly once you get the hang of this simple method. Here are the simple rules to follow for the system. Look for a candle to close with the open and close of the candle to be within 1 pip of each other. These candles happen more often than you may think on a 15 minute chart and are usually a strong sign of indecision in the market. Usually after a swing move up or down hitting a support/resistance level. If the 1 pip candle closes green and the previous candle is at least 4 pips from open to close then you buy at the close of the 1 pip candle. If the 1 pip candle closes red and the previous candle is at least 4 pips from open to close then you sell at the close of the 1 pip candle. Stops are always placed just above/below the previous swing high/low plus a couple of pips. Try and keep you targets small, don t get too greedy with this system. This system is great to grab 10-15 pips at a time without too mush trouble. Do You Want To Make Consistent Money Trading Forex? Dean Saunders has created the *Ultimate* FREE forex trading system that has helped 100 s of Forex Traders become profitable. Click Here and grab your FREE copy of Dean s amazing trading system!

Forex Trading - How Forex Trading Can Make You Rich!

Considered to be the largest financial market in the world, Foreign Exchange refers to trading that involves the world’s currencies. Also known as FOREX, Retail forex, FX, and by many other names, the forex market reaches a trading volume of up to 2 trillion USD in a single day â€" thrice as big as the total amount of stocks and future markets in the stock exchange market. Foreign exchange or forex trading revolves around money â€" specifically the purchasing and selling of different currencies. Trading is done through a broker or dealer and is usually done in pairs. Forex trading can be a bit confusing as it does not involve the handling of any physical or tangible items. Forex trading is mostly a speculative manner of conducting business, with a minimal percentage of the market’s activities coming in from governments’ and companies’ currency conversion needs. Forex trading is conducted on the interbank market and not on a central exchange like that of the stock market. This interbank market may be best described as an over the counter market, allowing two parties to trade directly with each other, whether via telephone or the on other means of communication. The main trading centers for forex trading are located all over the world - in Sydney, London, Frankfurt, New York, and Tokyo â€" this ensures that trading in the forex market is open twenty four hours a day. How do you start trading? To get started, you will need a trading account which you can acquire online. You will also need foreign exchange trading software which you may install on your computer or access via internet browsers. You can open an online currency trading account, also known as micro account, for a couple hundred dollars. The micro account, as well as the mini trading account, is a good way to start trading as you can dabble in the world of the forex market without risking too much. About USD1,000 for the micro account is a good place to start. There are numerous advantages and benefits that can be derived from forex trading . One clear advantage is the absence of commissions â€" there are no excessive fees such as government fees, clearing fees, or brokerage fees. There are also no middle men involved in trading. Spot currency forex trading will allow you to trade directly with the market. Low transaction costs are also another plus for forex trading â€" the transaction cost for forex trading is generally below 0.1% when in normal market conditions. 24-hour availability is also another advantage â€" you can trade anytime, anywhere. No single party can control the forex market â€" another plus to forex trading. There are a lot of great benefits to forex trading â€" and some of the better benefits are available for people who are just starting out. Free demo accounts, information, and news are available â€" allowing newbies to learn about the market while practicing their trading skills. Mini and Micro trading will also greatly benefit amateurs as these accounts can let them trade in the forex market without risking too much money. To learn the best forex trading strategies and learn everything about forex trading software just visit forex-trading-platform.org James Hardy Expert Currency Trader

The Four Week Rule - A Simple One That Gives You Huge Profits Potential

Here is a simple forex trading system that is easy to understand and apply and has influenced some of the top traders of all time. Don t be fooled by its simplicity it works. Let s look at it. The 4 week rule is one of the simplest technical analysis systems of all time and it may not be trendy or flavor of the month, with a lot of forex traders who think complicated is better - but don t think that because its simple it doesn t work - it does. Richard Donchian was a true legend and one of the most influential trend followers of all time he spoke and wrote profusely on the subject of trading and has influenced some of the greatest names in trading including trading legend Richard Dennis. The four week rule has proved to be an effective building block on which many successful trading systems are based. It s based on the following assumptions about market behavior: 1. The strongest trending moves start from new market highs NOT market lows. Those people who think buy low sell high is a great way to make money are wrong. If you don t buy breakouts from new highs, you will miss some of the best trends - period. 2. A trend in motion is more likely to continue than reverse. We all know this is a basic building block of technical analysis and there is no better trend than one that is making new highs 3. A four week cycle is the dominant cycle in trading. This can vary at times of course but the four week cycle is highly effective. The original rules were used for trading commodities and can be summarized by: Cover short positions and buy long whenever the price exceeds the highs of the previous 4 calendar weeks. Liquidate long positions and sell short whenever the price falls below the lows of the previous 4 calendar weeks. The original system being devised for commodities was designed to use a stop and reverse so the trader was always in the market with a position. In a non trading market it can get whipsawed a solution to this problem is to enter on the 4 week rule (the breakout), and to exit on a shorter time period such as 1 or 2 weeks. With this system, a four week breakout would be needed to initiate a new position, but a one or two week signal in the opposite direction would mean liquidation of the position. The trader then remains out of the market until the next new four week breakout is registered. Why It Works This system is based on sound technical principles with signals that are mechanical and clear-cut. It is trend-following so a trader is virtually guaranteed to be on the right side of every trend. It also follows the often quoted trading wisdom - let profits run, while cutting losses short . Another advantage is fewer trades, which means less time being spent looking at the market and finally you don t even need a computer! People often say technology helps - but for many traders its a hindrance they think being clever will make them money, well consider this 95% of traders lost 100 years ago and the its the same ratio before yet computers today are more powerful than the one mission control used to land man on the moon! Don t be fooled by simplicity it can be very profitable. Being a trend-following system, it is not going to catch market tops and bottoms ( but how many systems do that though?) however, the 4 week rule works as well as any other trend-following system but with the benefit of incredible simplicity. The Proof You might be saying that won t work - well go and try it on a strong trending currency market like the euro, Canadian dollar or Australian dollar and back test it and in a number of strong trending markets and you will see it does. Don t be led to believe that if its simple it won t work - all the best forex trading systems are simple. You don t get paid for being clever you get paid for being right - Period. Today, traders always like to trade something different or obscure but if you want a simple system, by a trading legend, that s hard to beat - try Richard Donchian 4 week rule It s been part of some of the true great traders box of tools and should be in yours to. PROFESSIONAL FOREX TRADING COURSE AND FREE ESSENTIAL INFO For free 2 x trading Pdf s with 90 of pages of essential info and an exclusive Forex Trading Course visit our website at: learncurrencytradingonline.com/index.html

Thinking About Currencies Day Trading? Useful Tips And Tricks For Beginners

Thinking About Currencies Day Trading? Useful Tips And Tricks For Beginners Why is it that some people are successful in trading the markets? And some people fail? It has become increasingly popular among casual traders due to advances in technology, changes in legislation, and the popularity of the Internet. Note: The information presented in this article mainly applies to currencies trading. But these information can also be used for commodity trading, futures trading and swing trading. What is Currencies Day Trading? It simply means not holding any position beyond the current trading day; i.e. closing all outstanding positions by the end of the session putting you 100% into cash overnight. When trading you hold a position for only the day. But don t be fooled by all the glory of it. It is difficult and should not be done without the proper knowledge and practice. There is no magic formula that will result in fantastic results. It is serious business where you could lose everything within minutes because of wrong information. It is necessary to plan your trading business and prepare a proper strategy for achieving success. Here are some tips that will help you to succeed with currencies day trading: Stick to your own rules You must have an identifiable edge over the market. If you lose money, do not worry, as some loss is to be expected. The single best way to protect your profits is to lock them in. Become familiar with the functions of your trading platform before you trade real money. Characteristics of Successful Traders If you want to succeed, then you should do exactly what the professional traders do: Winners trade systems with high positive expectancy, sound money management strategies, minimal degrees of freedom to avoid curve fitting, and then puts the system into his business plan for implementation. Successful traders set tight stops to get out of losing positions quickly; and they let the winners ride out the trend. Most successful day traders have a true love or passion about their currencies day trading activities. Professional traders do not fear losing money and understand that losing money is a part of the trading business. Successful traders do not rush into trades. They take their time to select good trading opportunities and do not place orders simply for the sake of holding a position in the markets at all times. In Conclusion Never forget: Traders go bankrupt because they lose money, not because they don t make enough of the green. Don t trade with money that you can not afford to lose. Start trading, making small gains and becoming comfortable with your feelings, and use discipline as your main weapon. Although it is risky, it does have big rewards if you know how to play in this game. Markus Heitkoetter has also written other well-written and helpful articles not only related to Day Trading , but also other articles related to Currencies Day Trading . For more information visit his website free-daytrading-info.com/

Forex Trading - How to Profit From the Falling Dollar

The dollar has recently fallen to an all time low against the euro and one of the worst scenarios for the world economy for the last few years has involved a dollar crash. Is it time to prepare for that crash now? We must ask ourselves, what would cause a dollar crash? It would have to involve America s dependence on foreign capital it s most dangerous vulnerability. America s dependence on foreign capital has lead to its large deficits. Do the US deficits threaten its and global financial stability? So long as the US remains the most attractive foreign investment destination in the world it can sustain such large deficits. However, if some event would occur, like say a crisis in the American financial markets that would spook foreign investors and cause them to ditch the dollar fast then the dollar will tumble. The sub-prime mortgage woes was just such a crisis and to be honest the dollar held up pretty well. In fact this events showed clearly that if private investors become frightened central banks will pick up the slack. In order to abandon the dollar there would need to be an alternative choice for foreign investment and there simply put is not. The stability of the US politically and socially, in spite of its enormous deficit, still leave the US the world s most stable and reliable economy. Although Europe is stable politically, its slow growth make it an inadequate substitute for foreign investors. And even though China s rapid growth is inviting, the threat of political instability deters any long-term bets on its economy which in itself is still very young and needs time to mature. My long term outlook is to buy the dollar and sell the euro. In the long term nobody has anything to gain from the decline of the dollar and excessive volatility in exchange rates is damaging to the growth and economy of all regions of the world. Especially China who currently owns a substantial portion of the US debt. Also the euro s rise is beginning to hurt the competitiveness of Europe s exports and there is the possibility of central bank intervention to protect against the strong euro and weak dollar. In the near future the dollar decline and further weakness most likely will continue. I am not about to stand in the way of such a strong trend as the dollar is near all time lows against the euro. But as everyone is talking about the weak dollar and my neighbors talk about hedging themselves against the weak dollar I know one of those rare opportunities is beginning to present itself just like it was obvious to me the bull market in US equities was coming to an end once my mother and her investment club began buying and selling stocks online or when a photographer at a wedding told me how he was going to begin flipping houses I also knew we had reached a top in real estate prices. A worldwide ditching of the dollar would bear astronomical consequences. I do not believe anyone is ready to allow that to happen and I do believe there will be intervention to prevent it. Like I said though, I will not just jump in with this extremely strong trend in place so I will use my strength and talents as a technician to get into this trade. In the member area in the Rules and Methods section you will find the methodology on how we will approach this trade. We will be trading the 4 hour, daily, and weekly time frames as this is a long term strategy. Since our positions will be short, the eur/usd will be collecting interest and pips the whole way. By Jordan Lindsey JCL Capital Inc Jordan Lindsey is a professional trader who s personal forex trading group Conquering The Markets trades his forex trading systems together and work toward helping people all over the world live better lives.