Saturday, November 7, 2009
Forex Trading at its best when technical indicators work like they should
A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.The same happenned with AUD/USD. My analsis of this currency pair said that it should bounce from 200 EMA. Spot that happenned in forex day trading..I went in to trade as MACD also crossed up, and made 55 pips. Most of the times I use RSI as the trigger. But this time MACD turned out to be the trigerring indicator.However, still I maintain that the most volatile currency pair is GBP/USD followed by USD/CHF and EUR/USD. They respond to technical indicators very well
Why Forex Is So Popular Nowdays?
Here the most important reasons why Forex is so popular nowadays:• Liquidity. Forex is the largest financial market in the world, with the equivalent of over 3-4 trillion changing hands daily when the volume on the stock markets is only 500 billions of dollars. • Flexibility. Because of 24-hour trading participants of the foreign change market would not wait to react on some events, as this happens on other markets (for example: stock markets). On other markets you simply can be late if you have to wait till morning to show your reaction, as in the morning the event will be already in the price, greatly differ from the desired level.• Lower transaction costs. Traditionally the Forex market has no commissions, except spread, the difference between ask and bid prices.• Price stability. High liquidity helps ensure price stability, when unlimited contract size can be executed at a fair price. It helps to avoid the problem of instability, as it happens in the stock market and other exchange-traded markets because of the lower trade volume, where at one price only limited number of contracts can be executed.• Margin. Margin size for trading on Forex is defined in the contract entered between a client and a bank or a brokerage company, which gives the opportunity to enter the market for the individuals and usually it is 1:100. So, the collateral of 1000 US dollars allows a trader to make deals on $100.000. Such high leverage combining with the rapid rates fluctuation make this market profitable but at the same time extremely risky
Increasing of Corporate Interest
A successful performance of a product or service overseas may be pulleddown from the profit point of view by adverse foreign exchange conditions andvice versa. An accurate handling of the foreign exchange may enhance the overallinternational performance of a product or service. Proper handling of foreignexchange generally adds substantially to the rate of return. Therefore, interestin foreign exchange has increased in the past decade. Many corporations areusing currencies not only for hedging, but also for capitalizing on opportunities thatexist solely in the currency
Importance of Fundamental announcements in currency trading market
Just like a space craft going to be launched requires a fire thrust to launch into air, the same way the forex trading market requires the fuel of fundamental news and announcement. Many of the times you must have seen that market is range trading meas the currency pair price is bouncing between a support and resistance line..Though its a very profitable trading situation, still most of traders prefer to trade when forex market is in trending. This is true for swing trading and day forex trading across global.
How to Achieve Financial Freedom with Forex Trading
With the growth of the forex market, there is a large amount of traders lose all their money. Unfortunately, they haven't done the simple steps presented to you. Read these steps below and give yourself the financial freedom you always wanted.
Trust In Yourself and how you decide
To reach the level of elite forex trader, you must trust in yourself and your forex trading education. If you have the highest quality education you can get like from Forex Profit Accelerator, you have to possess self-decision instead of relying on someone else's thoughts or ability (or lack of). Of course, you will prepare yourself fully before every risking any money. That is what demo accounts and home study courses is all about.
Decide What Type of Trader You Are
There are many ways to trade the forex. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. you should not allow money to be lost. you should be making more of it.
Learn and Earn
Education is the shortest path to elite forex trading. Regardless of your ultimate goals, you will reach them quicker with a great forex trading education. The good thing is Forex Home Courses nowadays is that they have customer support, Like the Forex Profit Accelerator. Bottom line? they will support you until you succeed.
The more you Learn the more you Earn.
In order to achieve and retain elite forex trading skills, you must constantly searching and learning. one significant point to look for in an elite forex trading course is ongoing education. It is always pleasant and motivating to have an ongoing relationship with the person/people helping you to achieve your goals. The support yet being independent makes an elite trader.
What separates the elite from the not is that some follows only what the people around them tell them to do. the strategies and decisions come only from the points of view of others. An elite does other wise.
An elite forex trader will lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.
It is not hard even for a beginner to be an elite forex trader. If you are decided to be financially free, it always start with one's character, Constant learning and the right people to support you. Being an independently learning trader can bring you to new heights, and being independent means freedom, financially.
Trust In Yourself and how you decide
To reach the level of elite forex trader, you must trust in yourself and your forex trading education. If you have the highest quality education you can get like from Forex Profit Accelerator, you have to possess self-decision instead of relying on someone else's thoughts or ability (or lack of). Of course, you will prepare yourself fully before every risking any money. That is what demo accounts and home study courses is all about.
Decide What Type of Trader You Are
There are many ways to trade the forex. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. you should not allow money to be lost. you should be making more of it.
Learn and Earn
Education is the shortest path to elite forex trading. Regardless of your ultimate goals, you will reach them quicker with a great forex trading education. The good thing is Forex Home Courses nowadays is that they have customer support, Like the Forex Profit Accelerator. Bottom line? they will support you until you succeed.
The more you Learn the more you Earn.
In order to achieve and retain elite forex trading skills, you must constantly searching and learning. one significant point to look for in an elite forex trading course is ongoing education. It is always pleasant and motivating to have an ongoing relationship with the person/people helping you to achieve your goals. The support yet being independent makes an elite trader.
What separates the elite from the not is that some follows only what the people around them tell them to do. the strategies and decisions come only from the points of view of others. An elite does other wise.
An elite forex trader will lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.
It is not hard even for a beginner to be an elite forex trader. If you are decided to be financially free, it always start with one's character, Constant learning and the right people to support you. Being an independently learning trader can bring you to new heights, and being independent means freedom, financially.
Straighthold Investment Group provides Forex trade
Straighthold Investment Group provides Forex traders with excellent working conditions on the Forex Market. The main aim of the LiteForex project is to meet the needs of entry level traders and to help them ease their way to professionalism and success in Forex trading. Our trading terms and conditions suit Forex professionals as well. All these details make us feel that the LiteForex project is really universal and unique.
Below, please find a list of the 12 major advantages of collaborating with our company:
START FOREX TRADING WITH JUST $1
The LiteForex project offers you the unique opportunity to enter the Forex market with just ONE DOLLAR. All transactions on LITE group accounts are effected in US cents, so you can trade by 0.1 lots with margin rates of 1 % at a leverage of 1:100 or with margin rates of 0.5 % at a leverage of 1:200.
Below, please find a list of the 12 major advantages of collaborating with our company:
START FOREX TRADING WITH JUST $1
The LiteForex project offers you the unique opportunity to enter the Forex market with just ONE DOLLAR. All transactions on LITE group accounts are effected in US cents, so you can trade by 0.1 lots with margin rates of 1 % at a leverage of 1:100 or with margin rates of 0.5 % at a leverage of 1:200.
Fundamental Outlook for US Dollar: Bearish
- Fundamentals support a recovery in US and global growth, but how does risk appetite factor in?
- Bernanke sees signs of stabilization, calls focus on the deficit
- Do technicals call for a dollar collapse or recovery?
It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together. Sentiment winds have died down; but they can easily jostle the safe-haven dollar should another economic catalyst surface. This makes for an uncertain future when combined with the fundamental influence that the 2Q GDP report will have on the currency. Now, not only do traders have to interpret the data, they will also have to judge whether it has a greater impact on risk appetite or growth considerations for the beleaguered dollar.
Looking ahead to next week, the most immediate threat to the greenback’s stability is the intensity and direction of risk appetite. While this currency is deeply mired in speculation surrounding the economy’s leading or lagging growth potential, interest rate expectations, and deficit projections among other influences; risk appetite has proven itself to be insuperable. With the Federal Reserve vowing to keep the benchmark lending rate at levels that insure a carry status when conditions do turn around and politicians ensuring the economy will struggle with record levels of debt for years to come, there seems little doubt that the dollar will maintain its position on the opposite of risk appetite. But, considering the stalled progress most of the dollar and yen crosses saw last week; is there a strong shift in sentiment in the works? With EURUSD and GBPUSD just off of key levels of resistance, the pressure is growing. However, the primary source of momentum this past week – the second quarter earnings season – is already on the decline. If left up to the markets alone, equities have already forged new highs for the year; but commodities, fixed income and risk-sensitive currency pairs have not pushed to comparable levels. Oddly enough, one of the most likely catalysts for risk going forward also happens to be the most attention grabbing indicator on the US docket: GDP.
According to economists forecasts, the world’s largest economy contracted at a 1.5 percent on an annualized pace through the second quarter. This would be a marked improvement from the 5.5 percent and 6.3 percent rate of the recession through the first quarter of 2009 and fourth quarter 2008 respectively. This would certainly confirm policy officials expectations for a return to positive growth by the end of this year or beginning of the next; but through the near-term it is still a call for speculation to rank the economy’s performance against that of its major counterparts. China recently reported a sharp advance to a 7.9 percent pace of expansion while the UK printed a record 5.6 percent contraction. And, then there are still those economies that have yet to report their numbers. Japan suffered a record-breaking 14.2 percent slump through the first quarter, but is expected to snap back according to BoJ and Cabinet officials. The Euro Zone awaits it August 13th release, but the Bundesbank has already stated Germany saw only a ‘slight contraction’ through the second quarter. This will increasingly become a consideration of nuance.
The other facet of the US 2Q GDP release is that it will be accepted as a gauge of global growth. This further complicates the issue. Should the reading be good, the influence on risk appetite could outweigh the implications for US returns and actually drag the dollar down; and vice versa. Another important consideration is the timing of this release. Due Friday, speculators may decide to move the dollar before the data crosses the wires. If this is the case, the GDP report could factor into long-term projections but not short-term volatility. –JK
For more timely FX market analysis, visit our newly-launched Forex Stream Service.
- Bernanke sees signs of stabilization, calls focus on the deficit
- Do technicals call for a dollar collapse or recovery?
It was a tenuous week; but the dollar was able to ultimately hold its own through the close. However, just because momentum behind the earnings-driven rally in risk appetite has stalled does not mean that the world’s most liquid currency has avoided a collapse all together. Sentiment winds have died down; but they can easily jostle the safe-haven dollar should another economic catalyst surface. This makes for an uncertain future when combined with the fundamental influence that the 2Q GDP report will have on the currency. Now, not only do traders have to interpret the data, they will also have to judge whether it has a greater impact on risk appetite or growth considerations for the beleaguered dollar.
Looking ahead to next week, the most immediate threat to the greenback’s stability is the intensity and direction of risk appetite. While this currency is deeply mired in speculation surrounding the economy’s leading or lagging growth potential, interest rate expectations, and deficit projections among other influences; risk appetite has proven itself to be insuperable. With the Federal Reserve vowing to keep the benchmark lending rate at levels that insure a carry status when conditions do turn around and politicians ensuring the economy will struggle with record levels of debt for years to come, there seems little doubt that the dollar will maintain its position on the opposite of risk appetite. But, considering the stalled progress most of the dollar and yen crosses saw last week; is there a strong shift in sentiment in the works? With EURUSD and GBPUSD just off of key levels of resistance, the pressure is growing. However, the primary source of momentum this past week – the second quarter earnings season – is already on the decline. If left up to the markets alone, equities have already forged new highs for the year; but commodities, fixed income and risk-sensitive currency pairs have not pushed to comparable levels. Oddly enough, one of the most likely catalysts for risk going forward also happens to be the most attention grabbing indicator on the US docket: GDP.
According to economists forecasts, the world’s largest economy contracted at a 1.5 percent on an annualized pace through the second quarter. This would be a marked improvement from the 5.5 percent and 6.3 percent rate of the recession through the first quarter of 2009 and fourth quarter 2008 respectively. This would certainly confirm policy officials expectations for a return to positive growth by the end of this year or beginning of the next; but through the near-term it is still a call for speculation to rank the economy’s performance against that of its major counterparts. China recently reported a sharp advance to a 7.9 percent pace of expansion while the UK printed a record 5.6 percent contraction. And, then there are still those economies that have yet to report their numbers. Japan suffered a record-breaking 14.2 percent slump through the first quarter, but is expected to snap back according to BoJ and Cabinet officials. The Euro Zone awaits it August 13th release, but the Bundesbank has already stated Germany saw only a ‘slight contraction’ through the second quarter. This will increasingly become a consideration of nuance.
The other facet of the US 2Q GDP release is that it will be accepted as a gauge of global growth. This further complicates the issue. Should the reading be good, the influence on risk appetite could outweigh the implications for US returns and actually drag the dollar down; and vice versa. Another important consideration is the timing of this release. Due Friday, speculators may decide to move the dollar before the data crosses the wires. If this is the case, the GDP report could factor into long-term projections but not short-term volatility. –JK
For more timely FX market analysis, visit our newly-launched Forex Stream Service.
What Is The Difference Forex and Futures?
The trendline. A trendline is a main initial element for the price chart analysis. While the market moves in any direction not along a straight line but along a zigzag, the mutual placement of upper and bottom points of those zigzags permits to plot a line connecting the significant highs (peaks) or the significant lows (troughs) of an appropriate zigzag using technical tools of the computer program.
To draw a trendline only two points are necessary and the third one is the contact point confirmation. On a bullish trend chart it should be drawn using troughs, on a bearish using peaks. The trendline and a line which is about parallel to it and drawn on the opposite side (through peaks on a bullish trend and through troughs on a bearish) form the trade channel. Both lines are then channel's borders.
Lines of support and resistance. The upper and the bottom borders of trade channels are called accordingly support and resistance lines. The peaks represent the price levels at which the selling pressure exceeds the buying pressure. They are known as resistance levels. The troughs, on the other hand, represent the levels at which the selling pressure succumbs to the buying pressure. They are called support levels. In an uptrend, the consecutive support and resistance levels must exceed each other respectively. The reverse is true in a downtrend. Although minor exceptions are acceptable, these failures should be considered as warning signals for trend changing.
The significance of trends is a function of time and volume. The longer the prices bounce off the support and resistance levels, the more significant the trend becomes. Trading volume is also very important, especially at the critical support and resistance levels. When the currency bounces off these levels under heavy volume, the significance of the trend increases.
The importance of support and resistance levels goes beyond their original functions. If these levels are convincingly penetrated, they tend to turn into just the opposite. A firm support level, once it is penetrated on heavy volume, will likely turn into a strong resistance level. Conversely, a strong resistance turns into a firm support after being penetrated. In general, to evaluate the reliability (that is the possibility of a break) of the trade channel borders taking a decision to close or to save an existing position one should govern himself with following rules:
1. A channel is the more reliable the longer it exists. Hence, the solidity of very old channels (e.g. existing more than 1 year) decreased sharply.
2. A channel is the more reliable the more is his width.
3. The resistance may be broken if it is bounced on the background of a growing volume.
4. A steep channel is less reliable in compare to a gentle one.
5. The support may be broken independent on the volume.
To draw a trendline only two points are necessary and the third one is the contact point confirmation. On a bullish trend chart it should be drawn using troughs, on a bearish using peaks. The trendline and a line which is about parallel to it and drawn on the opposite side (through peaks on a bullish trend and through troughs on a bearish) form the trade channel. Both lines are then channel's borders.
Lines of support and resistance. The upper and the bottom borders of trade channels are called accordingly support and resistance lines. The peaks represent the price levels at which the selling pressure exceeds the buying pressure. They are known as resistance levels. The troughs, on the other hand, represent the levels at which the selling pressure succumbs to the buying pressure. They are called support levels. In an uptrend, the consecutive support and resistance levels must exceed each other respectively. The reverse is true in a downtrend. Although minor exceptions are acceptable, these failures should be considered as warning signals for trend changing.
The significance of trends is a function of time and volume. The longer the prices bounce off the support and resistance levels, the more significant the trend becomes. Trading volume is also very important, especially at the critical support and resistance levels. When the currency bounces off these levels under heavy volume, the significance of the trend increases.
The importance of support and resistance levels goes beyond their original functions. If these levels are convincingly penetrated, they tend to turn into just the opposite. A firm support level, once it is penetrated on heavy volume, will likely turn into a strong resistance level. Conversely, a strong resistance turns into a firm support after being penetrated. In general, to evaluate the reliability (that is the possibility of a break) of the trade channel borders taking a decision to close or to save an existing position one should govern himself with following rules:
1. A channel is the more reliable the longer it exists. Hence, the solidity of very old channels (e.g. existing more than 1 year) decreased sharply.
2. A channel is the more reliable the more is his width.
3. The resistance may be broken if it is bounced on the background of a growing volume.
4. A steep channel is less reliable in compare to a gentle one.
5. The support may be broken independent on the volume.
4 Tips For Choosing a Reputable Forex Broker
Finding a Forex broker is a tough process to navigate through and for most people, the necessity of outside assistance is needed. Trying to trade in the Forex market without a broker could lead to devastating results for the normal trader. Similarly, hiring the wrong Forex broker can lead to the same result as trying to muddle through it alone. It is highly important that you be diligent in researching any prospective brokerage firms to handle your financial portfolio.
A good Forex broker will supply you with clients that were successful and can attest to the specific broker's qualifications and success history. Put yourself in that position, would you testify to someone's strengths if they did a poor job for you? Client history testimony should be present in any prospective Forex broker and plentiful to indicate a solid background with trading. You can tentatively assess a lot from a Forex broker with a list of clients that will speak up for the brokerage firm or individual broker. It should be noted that all word of mouth testimony should be taken with a grain of salt and dissected to collect the pertinent information. Testimony should be used in your research to find a Forex broker but should not be the deciding factor.
Another good morsel to test the reliability of any potential Forex broker is the amount of information, literature and lessons that they are willing to give to you. Most Forex brokers are of a high reputation and a solid background however, there are many out there that don't have a good history or no history and it is wise to steer clear of these brokers. You are trying to find a trusted financial advisor and settling for second best, just won't do. The more a potential Forex broker is willing to do for you in the area of helping you understand the Forex trading system, the better quality trader they will be for you.
A good avenue to travel down when seeking a good Forex broker is to ask your acquaintances about Forex brokers and how they met. This can not only give you prospective referrals to great Forex brokers but will also equip you with ideas and resources that you may not have located. If you get a referral from friends, be sure to still research that specific broker and his qualifications before committing to any formal agreement.
The other factor in finding a good Forex broker is the margin of return that is offered. A Forex trading margin used to influence your money and many Forex brokers offer different margins. Finding a Forex broker, who gives a margin of ten to one isn't a very good find so it's worth the time to reinvest in research. Remember that this industry is all about customer service and catering to the clients so if your prospective Forex broker doesn't return your calls within a reasonable time frame it would be advisable to keep searching.
A good Forex broker will supply you with clients that were successful and can attest to the specific broker's qualifications and success history. Put yourself in that position, would you testify to someone's strengths if they did a poor job for you? Client history testimony should be present in any prospective Forex broker and plentiful to indicate a solid background with trading. You can tentatively assess a lot from a Forex broker with a list of clients that will speak up for the brokerage firm or individual broker. It should be noted that all word of mouth testimony should be taken with a grain of salt and dissected to collect the pertinent information. Testimony should be used in your research to find a Forex broker but should not be the deciding factor.
Another good morsel to test the reliability of any potential Forex broker is the amount of information, literature and lessons that they are willing to give to you. Most Forex brokers are of a high reputation and a solid background however, there are many out there that don't have a good history or no history and it is wise to steer clear of these brokers. You are trying to find a trusted financial advisor and settling for second best, just won't do. The more a potential Forex broker is willing to do for you in the area of helping you understand the Forex trading system, the better quality trader they will be for you.
A good avenue to travel down when seeking a good Forex broker is to ask your acquaintances about Forex brokers and how they met. This can not only give you prospective referrals to great Forex brokers but will also equip you with ideas and resources that you may not have located. If you get a referral from friends, be sure to still research that specific broker and his qualifications before committing to any formal agreement.
The other factor in finding a good Forex broker is the margin of return that is offered. A Forex trading margin used to influence your money and many Forex brokers offer different margins. Finding a Forex broker, who gives a margin of ten to one isn't a very good find so it's worth the time to reinvest in research. Remember that this industry is all about customer service and catering to the clients so if your prospective Forex broker doesn't return your calls within a reasonable time frame it would be advisable to keep searching.
DISCOVER 2 STRATEGIES FOR MAKING OVER USD2000 WEEKLY AS A BREAKOUT FOREX TRADER
This article is part of a series and many more will follow on Grid trading, money management and Forex Trading Strategies.
Forex Trading Education
You must have seen advertisements for software packages that try to lure you into buying the software because it supposedly has made FX trading easy. Such advertisements can be misleading and they betray an obvious lack of Forex trading education. If you are starting out in Forex trading, let the start of your Forex trading education be this: Forex trading is not easy. Unlike stocks or commodities, Forex is a hard market to trade, both physically and mentally. As a Forex trader you cannot simply place your trade and then leave to go about your day, and come back later in the day to collect your profits. Things do not work like that in Forex trading, and this is the first lesson to be learned in your Forex trading education. Every Forex trader faces a worldwide market of central banks, multinational financial institutions, portfolio managers and other traders.
The market is volatile, without any defined trading periods, and moves can happen anytime within a 24-hour period. The constant stress can break down a trader in a short period of time, whether you are gaining or losing. Another insight you can get in Forex trading education is that successful investors know that losing money is inevitable at some point in Forex trading, and therefore that keeping investing discipline is essential to achieving success. Forex is a fast-paced, dynamic market with tremendous opportunities, but it can result in quick short-term losses. Making money in Forex requires not only nerves of steel, but also a personal commitment to actively study and consistently pay attention to Forex markets around the world. This means you will need to have a solid Forex trading education about the various markets and to develop the habit of checking current news to keep in pace with changes. Even those who are used to trading in the equity markets will still need Forex trading education. Forex currency pairs will trade very differently from the trading pattern of familiar stocks. There is a difference between FX trading and traditional investing, and the people that are successful in Forex have a definite strategy and stick to it. It is the trading discipline, the mentality that counts.
Those traders that are not doing well are those who have not had enough Forex trading education and are not sticking to their disciplines. A good method to gain Forex trading education and learn how the market works is to take practice runs before going into the real thing. It is fortunate that in the Internet, there are many retail platforms that offer investors the chance for realistic Forex trading education by trading in simulated accounts. This is a good opportunity to obtain the in-depth Forex trading education you need to develop a trading strategy. As you gain exposure to the Forex trading experience, your increasing Forex trading education will make you more accustomed to changing market conditions and movements, and how the platforms work. You'll be better off taking practice runs on these Forex trading education platforms before you begin trading with real funds, regardless of your experience. The more realistic you make your simulated trades, the better equipped you will be to handle real market conditions. In these Forex trading education trial runs, you can make the Forex trading education lessons sink in by trying to execute plans rather than trades. You must keep a careful log of your moves and of the strategy that you are following.
Like any educational program, make your Forex trading education sessions profitable by learning what went wrong and why, and how you can prevent it from happening again.
The market is volatile, without any defined trading periods, and moves can happen anytime within a 24-hour period. The constant stress can break down a trader in a short period of time, whether you are gaining or losing. Another insight you can get in Forex trading education is that successful investors know that losing money is inevitable at some point in Forex trading, and therefore that keeping investing discipline is essential to achieving success. Forex is a fast-paced, dynamic market with tremendous opportunities, but it can result in quick short-term losses. Making money in Forex requires not only nerves of steel, but also a personal commitment to actively study and consistently pay attention to Forex markets around the world. This means you will need to have a solid Forex trading education about the various markets and to develop the habit of checking current news to keep in pace with changes. Even those who are used to trading in the equity markets will still need Forex trading education. Forex currency pairs will trade very differently from the trading pattern of familiar stocks. There is a difference between FX trading and traditional investing, and the people that are successful in Forex have a definite strategy and stick to it. It is the trading discipline, the mentality that counts.
Those traders that are not doing well are those who have not had enough Forex trading education and are not sticking to their disciplines. A good method to gain Forex trading education and learn how the market works is to take practice runs before going into the real thing. It is fortunate that in the Internet, there are many retail platforms that offer investors the chance for realistic Forex trading education by trading in simulated accounts. This is a good opportunity to obtain the in-depth Forex trading education you need to develop a trading strategy. As you gain exposure to the Forex trading experience, your increasing Forex trading education will make you more accustomed to changing market conditions and movements, and how the platforms work. You'll be better off taking practice runs on these Forex trading education platforms before you begin trading with real funds, regardless of your experience. The more realistic you make your simulated trades, the better equipped you will be to handle real market conditions. In these Forex trading education trial runs, you can make the Forex trading education lessons sink in by trying to execute plans rather than trades. You must keep a careful log of your moves and of the strategy that you are following.
Like any educational program, make your Forex trading education sessions profitable by learning what went wrong and why, and how you can prevent it from happening again.
Simple Successful FOREX Technical Analysis Basics
What are the most simple things you studied or knew in technical analysis that you can use in FOREX trading?, of course most will answer this without even thinking about it, trend lines, resistance and support points and moving averages. The more professional traders will think more about it and would answer Yes, trend lines, resistance and support points and moving averages but who can use them alone successfully in trading FOREX?". Here it is my turn to answer, trend lines, resistance and support points and moving averages are the best simplest ways to achieve success trading FOREX and keep in the positive area always. Just to make it simple we need first to state the definition of these tools and later to know how to use and apply them to our chart in order to succeed and build a real FOREX fortune. 1. Trend Line : Trend line is the line that we can draw between two or more price tops or bottoms on a chart whatever was the type of the chart linear, bars or candlesticks", this line itself which could be an uptrend line which is being drawn between bottoms in a bullish market and it becomes a good support if the price goes south again or a downtrend line which is being drawn between price tops on the chart when market is down and it considered as a resistance when the price turns to up direction. Note: The line which touches more tops or bottoms is more stronger and the signal produced by it is more reliable. 2. Trend Channel : A trend channel is the space between two lines, the trend line and a parallel line to it which is always drawn on the opposite side of the trend line so it is drawn between tops in an up trend direction or through bottoms in a bearish price movement. The trend channel requires some conditions to give an accurate signal, the most important are: to be a wide channel, more wider more reliable and to last more longer. 3. Moving Average : Moving average is a mathematical average of set of prices we can say that a simple moving average (SMA) with value of 5 and applied to close is the sum of close prices for 5 moving bars on the chart divided to 5 (eg. the average of Friday is the sum of the previous 5 days week" on a daily chart divided to 5, while Thursday's average is the sum of the 5 days before divided to 5 and so, the moving average is the line which passes through these averages points", the most important condition for its reliability is its value, more greater value more reliable moving average. Note: I suggest using more than one moving average, 2 or 3 are acceptable. 4. Support And Resistance Points : Support points are the price points were tested more than two times when price was going south and it could not pass it, support points are completely the opposite. These points are being used to measure the probability of price turning at mean points, these points can be decided by using pivot points, fibonacci rates....etc." Note : The more times price touches a point and turn its direction the more stronger it is. How can we apply this to chart and get money, I'll summarize this in the following chart image, it explains itself, it's a chart for GBP/JPY, signal return was 1000+ pips in 2 days: Three moving averages were going south, trend line was broken price in green circle" a good support point 23.6% fibonacci was nearly broken", strong signal, yes? For the chart please visit MoneyTec The best resource for FOREX trading is MoneyTec, - Active Traders Community Forum, Chat. MoneyTec is an online trading community that promotes mature, intelligent & respectful discussion in a positive & safe environment for everyone.
Moving Average Convergence Divergence (MACD) Momentum Indicator
The MACD is a great trending indicator that can be used for many daytrading strategies. A bullish market is indicated by the faster-moving average crossing the slower-moving average on the way up. A bearish market is indicated by the faster-moving average crossing the slower-moving average on the way down. On top of that, the MACD has different periods for the fast- and slow-moving averages. The typical default MACD periods are 8, 17, 9 or 12, 26, 9.
The MACD is based on three moving averages, however, they essentially show up as being only two lines. The 8 period and the 17 period moving averages are combined to form the faster-moving average line. The 9 period exponential moving average forms the slower-moving average. In your daytrading strategy, the MACD moving average lines can be read for three pieces of information to give you the buy and sell signals you need for successful trades.
The first type of buy and sell signal you get from the MACD is called a breakout. This breakout is signified by the faster-moving average crossing the slower-moving average. If you were to examine a MACD chart, you would see a few places where this is happening. Like we talked about earlier, when the faster-moving average line crosses the slower-moving average line on the way up, you’ve got a bullish signal. Conversely, when the faster-moving average line crosses the slower-moving average line on the way down, you’ve got a bearish signal. That’s a breakout. There are some traders who will enter or exit a trade based when the line crosses, however, keep in mind that by doing so, you could limit potential profits and take on additional losses.
The second type of buy and sell signal we can get from the MACD is to test for support and resistance. When you’re day trading stocks, you might be told to trade on the cross, but here is something you can add to your strategy instead of just blindly trading at the cross. What you can do is check to see if the indicator lines are moving in the same direction and test the indicator line as being a support or resistance line after the cross.
The last type of buy and sell signal we can get from the MACD is divergence information. When the fast- and the slow-moving average lines move away from each other, the mound on the chart expands. As these lines draw near to each other, the mound shrinks. That is called divergence. Divergence is an important day trading tip that can strengthen your position on a trade if read correctly.
Using the MACD is a good way for experienced day traders to get an idea of when to buy and sell based on averages that give you a logical reason to buy or sell at a particular time.
The MACD is based on three moving averages, however, they essentially show up as being only two lines. The 8 period and the 17 period moving averages are combined to form the faster-moving average line. The 9 period exponential moving average forms the slower-moving average. In your daytrading strategy, the MACD moving average lines can be read for three pieces of information to give you the buy and sell signals you need for successful trades.
The first type of buy and sell signal you get from the MACD is called a breakout. This breakout is signified by the faster-moving average crossing the slower-moving average. If you were to examine a MACD chart, you would see a few places where this is happening. Like we talked about earlier, when the faster-moving average line crosses the slower-moving average line on the way up, you’ve got a bullish signal. Conversely, when the faster-moving average line crosses the slower-moving average line on the way down, you’ve got a bearish signal. That’s a breakout. There are some traders who will enter or exit a trade based when the line crosses, however, keep in mind that by doing so, you could limit potential profits and take on additional losses.
The second type of buy and sell signal we can get from the MACD is to test for support and resistance. When you’re day trading stocks, you might be told to trade on the cross, but here is something you can add to your strategy instead of just blindly trading at the cross. What you can do is check to see if the indicator lines are moving in the same direction and test the indicator line as being a support or resistance line after the cross.
The last type of buy and sell signal we can get from the MACD is divergence information. When the fast- and the slow-moving average lines move away from each other, the mound on the chart expands. As these lines draw near to each other, the mound shrinks. That is called divergence. Divergence is an important day trading tip that can strengthen your position on a trade if read correctly.
Using the MACD is a good way for experienced day traders to get an idea of when to buy and sell based on averages that give you a logical reason to buy or sell at a particular time.
Painless Business Opportunity that can be happening in few Hours
Did you ever consider making money in Forex trading as a home based business? I did and I was let down embarking, however, after doing some home effort, I was absolutely certain with this brainstorm. I consider my initial losses in Fx trading nothing but a startup expense that's linked with any venture you can think of. Not here forever all my sorrows.
One affair that I like about the Fx trading business is that you can rehearsal at no cost for as long as you desire, and one more feature is that you can pull together as much information about as you can perhaps cope with before you leap into this venture. Understanding, practice and some slight startup funds is all you need. If you do not cover the last, or the necessary capital to set up an account then all you have to do is study to be gainful in demo account and convert a wealthy comrade of yours to go in mutual undertaking with you, many are doing this. You supervise the account for your rich associate who's wealth is gathering nothing but dust someplace even in the bank account your friend's savings would barely make him 4% a year. if you develop into a profitable Currency trading trader you can make your friend this type of yield every solo business day instead of an entire year after you capture yours. A Currency trading account administrator is at liberty to have more than 30 % of all returns on original invested capital. You can gain knowledge of Forex trading by visiting unbiased websites that endow with loads of information regarding Currency trading all for free, you can get the ready established approach or wait until you develop yours.
One such set trading methods that you can go ahead and take hold of it to diminish the time required to turn out to be a thriving currency trader is the Forexbody procedure. This approach is so unfussy that anyone without even the slightest clue about Forex can be taught, first by browsing the valuable neutral information and watching the free Metatrader screen recordings on the forexbody website. Particular lexis about the Forexbody metatrader screen recordings, these measures are not for babypips guys and girls, these videos demonstrate remarkably very hard-hitting forex trading that can only be done by those who have become very good at the game well. Picture an account made twice larger in 30 minutes, yes screen recordings on Forexbody site illustrate just precisely this breed of exertion, but on the other hand, as tyro you get careful guidance on the site and recommendations on trading the easy mode to achievement.
The website has Currency trading signal by sms that you can evaluate for free. the signal has a victory rate of over 93% and if you are to be fulfilled with just the eminent 10 pip yield limit per deal the success rate would exceed 98 %. Even trades that turn out to be losers revolve to winners when given enough time. There a abundance of information on how to be thriving using Forexbody two times a day signal and there are 10 rules you have to abide by and according to Forexbody source, you can twofold your account every 45 days with low risk trading habits. all you need is self discipline and a robust will to tug the trigger immediately upon getting trading signal.
To be able to meet with ceaseless earnings you need to instigate the low risk approach, with this strategy a small account can be on track and full-grown over the period of 4 to 6 months to a decent amount where it can engender as much as $3000 in unbroken take-home pay, another time without taking piercing risks, while parting room for further expansion for further and unlimited upsurge in income.
The Wrapping up, If you ever thought about having your own business and working from the soothe of your own residence, you got to give this a test, It will not cost you any money to test the whole lot on virtual accounts that you can get free from plenty of Fx trading brokers worldwide, but you have possibility to be your own boss in a short time and the attempt on achieving the American ambition, stop commuting and fling that dress rules away.
One affair that I like about the Fx trading business is that you can rehearsal at no cost for as long as you desire, and one more feature is that you can pull together as much information about as you can perhaps cope with before you leap into this venture. Understanding, practice and some slight startup funds is all you need. If you do not cover the last, or the necessary capital to set up an account then all you have to do is study to be gainful in demo account and convert a wealthy comrade of yours to go in mutual undertaking with you, many are doing this. You supervise the account for your rich associate who's wealth is gathering nothing but dust someplace even in the bank account your friend's savings would barely make him 4% a year. if you develop into a profitable Currency trading trader you can make your friend this type of yield every solo business day instead of an entire year after you capture yours. A Currency trading account administrator is at liberty to have more than 30 % of all returns on original invested capital. You can gain knowledge of Forex trading by visiting unbiased websites that endow with loads of information regarding Currency trading all for free, you can get the ready established approach or wait until you develop yours.
One such set trading methods that you can go ahead and take hold of it to diminish the time required to turn out to be a thriving currency trader is the Forexbody procedure. This approach is so unfussy that anyone without even the slightest clue about Forex can be taught, first by browsing the valuable neutral information and watching the free Metatrader screen recordings on the forexbody website. Particular lexis about the Forexbody metatrader screen recordings, these measures are not for babypips guys and girls, these videos demonstrate remarkably very hard-hitting forex trading that can only be done by those who have become very good at the game well. Picture an account made twice larger in 30 minutes, yes screen recordings on Forexbody site illustrate just precisely this breed of exertion, but on the other hand, as tyro you get careful guidance on the site and recommendations on trading the easy mode to achievement.
The website has Currency trading signal by sms that you can evaluate for free. the signal has a victory rate of over 93% and if you are to be fulfilled with just the eminent 10 pip yield limit per deal the success rate would exceed 98 %. Even trades that turn out to be losers revolve to winners when given enough time. There a abundance of information on how to be thriving using Forexbody two times a day signal and there are 10 rules you have to abide by and according to Forexbody source, you can twofold your account every 45 days with low risk trading habits. all you need is self discipline and a robust will to tug the trigger immediately upon getting trading signal.
To be able to meet with ceaseless earnings you need to instigate the low risk approach, with this strategy a small account can be on track and full-grown over the period of 4 to 6 months to a decent amount where it can engender as much as $3000 in unbroken take-home pay, another time without taking piercing risks, while parting room for further expansion for further and unlimited upsurge in income.
The Wrapping up, If you ever thought about having your own business and working from the soothe of your own residence, you got to give this a test, It will not cost you any money to test the whole lot on virtual accounts that you can get free from plenty of Fx trading brokers worldwide, but you have possibility to be your own boss in a short time and the attempt on achieving the American ambition, stop commuting and fling that dress rules away.
The opportunities of trading the Forex hedged grid system
have seen the hedged grid system been used successfully (and highly unsuccessfully) over the last few years. Unfortunately the failures tend to discourage traders from taking advantage of this great system. I have found that the failures are mainly due to ignorance, impatience and greed (common reasons for trading failure).
In a nutshell the grid system uses the following methodology. You start by buying and selling a currency. When the price moves a predetermined distance (grid leg) you cash in the positive leg, leave the negative leg and buy and sell again. Sooner or later the system goes positive and you would then cash in when it is positive.
This is a brief summary of the content of our free hedged grid trading course available on expert-4x.com. Please refer to this course for more details of how money is made. The attraction is that the system is reasonably mechanical, can be programmed and does not take much supervision as exclusively entry orders are used.
Money is made when the price retraces 100%, 50%, 33% at various levels. This starts looking like a strategy that supports the Fibonacci concept. The grid system is also based on the nature of the market to trade sideways 80% of the time and to trend 20% of the time.
The dangers are that what if the price does not retrace and continues to trend. The Grid system can not make money in a trending market – full stop. One has to realize that. You therefore need Strategies to minimize damage during these periods:-
Firstly I have found that the biggest mistake made by traders is that they select a very small grid leg sizes e.g. 20 to 30 pips. This is a recipe for disaster. The trick is to use big leg sizes between 150 and 300 pips. What this does is that it sometimes turns a trending phase into movement in a sideways market. I would typically use 300 pips for the GBPJPY and 150 pips for the EURUSD for instance.
Secondly there is no rule that says that the legs have to be the same size. So I change my leg sizes in trending markets to be even bigger. If I started with 150 for the 1st leg I would go to 200 for the 2nd leg and 250 for the 3rd leg etc. This makes sure that I am carrying less loss making transactions in a trend.
Thirdly – sometimes it is wise to increase the number of lots with the trend compared to the numbers against the trend in a good trend. However be aware of having the same number of sell and buy transactions. All you will have done was lock in your current status in a 100% hedge.
Fourthly – This is the biggest change and most important one that I personally have made in my grid trading strategy. Always cash in all your transactions when your system is positive and when the price reaches the end of one of your grid legs. By cashing in you are reducing the risk of carrying negative lots in a trending market. This also gives you an opportunity to re-assess the market conditions.
Fifthly:- Cash in a start again is always an option. One of my strategies is to cash in all my open positions when the 3rd leg of my grid is reached and start again. Experience has taught me that this is a short term pain that goes away very quickly and is soon forgotten.
People that have traded the grid system will immediately see how the above approaches will reduce the risks of exponential losses building up in a strongly trending market. Please feel free to contact Mary McArthur at marymcarthur@expert4x.com for clarification on any items discussed above. She has numerous examples of successful applications of grid trading
In a nutshell the grid system uses the following methodology. You start by buying and selling a currency. When the price moves a predetermined distance (grid leg) you cash in the positive leg, leave the negative leg and buy and sell again. Sooner or later the system goes positive and you would then cash in when it is positive.
This is a brief summary of the content of our free hedged grid trading course available on expert-4x.com. Please refer to this course for more details of how money is made. The attraction is that the system is reasonably mechanical, can be programmed and does not take much supervision as exclusively entry orders are used.
Money is made when the price retraces 100%, 50%, 33% at various levels. This starts looking like a strategy that supports the Fibonacci concept. The grid system is also based on the nature of the market to trade sideways 80% of the time and to trend 20% of the time.
The dangers are that what if the price does not retrace and continues to trend. The Grid system can not make money in a trending market – full stop. One has to realize that. You therefore need Strategies to minimize damage during these periods:-
Firstly I have found that the biggest mistake made by traders is that they select a very small grid leg sizes e.g. 20 to 30 pips. This is a recipe for disaster. The trick is to use big leg sizes between 150 and 300 pips. What this does is that it sometimes turns a trending phase into movement in a sideways market. I would typically use 300 pips for the GBPJPY and 150 pips for the EURUSD for instance.
Secondly there is no rule that says that the legs have to be the same size. So I change my leg sizes in trending markets to be even bigger. If I started with 150 for the 1st leg I would go to 200 for the 2nd leg and 250 for the 3rd leg etc. This makes sure that I am carrying less loss making transactions in a trend.
Thirdly – sometimes it is wise to increase the number of lots with the trend compared to the numbers against the trend in a good trend. However be aware of having the same number of sell and buy transactions. All you will have done was lock in your current status in a 100% hedge.
Fourthly – This is the biggest change and most important one that I personally have made in my grid trading strategy. Always cash in all your transactions when your system is positive and when the price reaches the end of one of your grid legs. By cashing in you are reducing the risk of carrying negative lots in a trending market. This also gives you an opportunity to re-assess the market conditions.
Fifthly:- Cash in a start again is always an option. One of my strategies is to cash in all my open positions when the 3rd leg of my grid is reached and start again. Experience has taught me that this is a short term pain that goes away very quickly and is soon forgotten.
People that have traded the grid system will immediately see how the above approaches will reduce the risks of exponential losses building up in a strongly trending market. Please feel free to contact Mary McArthur at marymcarthur@expert4x.com for clarification on any items discussed above. She has numerous examples of successful applications of grid trading
Ready to Trade: Forex Broker
The CFD FX REPORT is a real time trading tool that offers clients free trading reports, trading ideas and education lessons similar to this one.
They have also recently reviewed all the Forex Brokers so if you are looking for a great broker feel free to contact them.
They have also recently reviewed all the Forex Brokers so if you are looking for a great broker feel free to contact them.
Stock Market Trading - Japanese Candlesticks
I am certain we have all heard of the term Japanese candlesticks, but are you using them effectively?
History:
It is more than likely the oldest technical analysis tool available to Forex traders, Japanese candlesticks. Japanese Candlestick charts were developed in the 18th century by a man named Munehisa Homma. Munehisa Homma developed candlestick charts to analyze the price changes of rice contracts. He traded these contracts and was considered the best trader of his time. He became a very wealthy man for the sole use of these candlestick charts.
So what is a candlestick chart?
In simple terms the Candlestick charts is the Japanese Candlestick Charts, are simply a way to show price movement.
The charts are both very simple and powerful and when used effectively are one of the most profitable trading tools available. They are similar to line charts but much easier to read and interpret. They consist of a body, with or without a wick at each end. The body shows the opening price at one end, and the closing price at the other. The wicks show how much the price moved above or below the close. The color of the body shows whether it was an up time period, or a down period. They are brilliant and use to use you can tell by a simple look, whether the price closed higher or lower than the open. While this alone is enough to warrant using candlestick charts over line charts, this is only the tip of the iceberg in terms of the power of Japanese candlesticks.
The Chart patterns of Japanese Candlesticks
As the price of the Forex Market moves up and down, it creates distinct patterns. These patterns can tell you exactly when to enter the market and exactly when to exit the market.
When the Japanese candlesticks are combined with technical indicators these patterns work together to become very accurate. There are hundreds of patterns, the more of these patterns that you know, the better your analysis will become. Now I have only touched on the very basics of the power of Japanese candlesticks. There are many excellent books that teach these patterns in detail, after using the patterns for a while it becomes second nature.
Forex Trading with Japanese candlestick charts
Japanese candlestick charts are especially well suited to using in Forex. In Forex trading it is just as easy to make a profit whether the price is going up or down. Candlestick charts predict upturns as well as downturns. Using Japanese Candlestick Charts will not make you successful all the time. You will have wins and losses. The candlestick charts will however give you the edge you need to succeed.
Japanese candlesticks are a fun and easy way to trade forex. The candlestick charts will also help you to become successful with any strategies you are currently using. They can be an excellent aid to you when developing your own trading system. No matter what your goals are or how experienced/inexperienced you are, candlestick charts will increase your profitable trades. They will also help you avoid losing trades. Japanese candlestick charts are the easiest and most successful way to begin trading Forex.
History:
It is more than likely the oldest technical analysis tool available to Forex traders, Japanese candlesticks. Japanese Candlestick charts were developed in the 18th century by a man named Munehisa Homma. Munehisa Homma developed candlestick charts to analyze the price changes of rice contracts. He traded these contracts and was considered the best trader of his time. He became a very wealthy man for the sole use of these candlestick charts.
So what is a candlestick chart?
In simple terms the Candlestick charts is the Japanese Candlestick Charts, are simply a way to show price movement.
The charts are both very simple and powerful and when used effectively are one of the most profitable trading tools available. They are similar to line charts but much easier to read and interpret. They consist of a body, with or without a wick at each end. The body shows the opening price at one end, and the closing price at the other. The wicks show how much the price moved above or below the close. The color of the body shows whether it was an up time period, or a down period. They are brilliant and use to use you can tell by a simple look, whether the price closed higher or lower than the open. While this alone is enough to warrant using candlestick charts over line charts, this is only the tip of the iceberg in terms of the power of Japanese candlesticks.
The Chart patterns of Japanese Candlesticks
As the price of the Forex Market moves up and down, it creates distinct patterns. These patterns can tell you exactly when to enter the market and exactly when to exit the market.
When the Japanese candlesticks are combined with technical indicators these patterns work together to become very accurate. There are hundreds of patterns, the more of these patterns that you know, the better your analysis will become. Now I have only touched on the very basics of the power of Japanese candlesticks. There are many excellent books that teach these patterns in detail, after using the patterns for a while it becomes second nature.
Forex Trading with Japanese candlestick charts
Japanese candlestick charts are especially well suited to using in Forex. In Forex trading it is just as easy to make a profit whether the price is going up or down. Candlestick charts predict upturns as well as downturns. Using Japanese Candlestick Charts will not make you successful all the time. You will have wins and losses. The candlestick charts will however give you the edge you need to succeed.
Japanese candlesticks are a fun and easy way to trade forex. The candlestick charts will also help you to become successful with any strategies you are currently using. They can be an excellent aid to you when developing your own trading system. No matter what your goals are or how experienced/inexperienced you are, candlestick charts will increase your profitable trades. They will also help you avoid losing trades. Japanese candlestick charts are the easiest and most successful way to begin trading Forex.
Forex Trading Strategy - A Simple Timeless Method For Huge Gains
The Forex trading strategy enclosed can be learned in a few weeks and can make you huge profits in around 30 minutes a day. It's easy to understand and have confidence in so let's take a look at it.
The methodology we are going to look at here is long term trend following with breakouts.
The one constant in Forex markets is they will trend for long periods of time in a sustained direction and as these trends reflect the underlying health of the economy, they will last for weeks months or years. If you can lock into these trends and hold them, with leverage on your side, you can make a lot of money but how do you get in on these trends and ride them?
The best way to get in on any trend is to buy a break of support or resistance, to a new chart high or low. You generally, want a level that has been tested at least twice and the more times the better. What you are looking for is a level which the traders consider important.
If the break is a good one the following will occur:
As soon as the level is penetrated, stops behind the level are hit and push the price further in favour of the breakout, technical buying kicks in and pushes the price further from the breakout point and then as the new trend develops retail buyers want to get on board pushing the trend even further.
It sounds simple and logical and it is but most traders have a problem with taking breakouts and it's rooted in their psychology. When the break occurs they think, I have missed the start of the move, so better wait for a pullback to get in but the really big breakouts don't come back, the trend develops and the trader who waited misses the move.
The trader who simply bought the beak, missed the first bit of the move but he has the odds on his side of a continuation of the trend and stands to make money.
Most traders want to predict and buy tops and bottoms and be perfect but that's impossible, if they focused purely on making money, they would see the logic of breakouts which is simply trade the reality of price change and forget prediction.
When trading breakouts, you need to be patient and wait for the best trading signals. You need to pick levels which have been tested several times and are considered important by traders.
Breakout trading can be done easily, by anyone and doesn't take long to learn. You can put together a simple, breakout strategy together in a week or so and then start enjoying currency trading success.
I know traders who trade just a few times a month, spend 30 minutes a day, on their Forex trading strategy and make triple digit annual gains. Discover breakout trading and you will have a simple, easy to understand and timeless way to make big profits.
The methodology we are going to look at here is long term trend following with breakouts.
The one constant in Forex markets is they will trend for long periods of time in a sustained direction and as these trends reflect the underlying health of the economy, they will last for weeks months or years. If you can lock into these trends and hold them, with leverage on your side, you can make a lot of money but how do you get in on these trends and ride them?
The best way to get in on any trend is to buy a break of support or resistance, to a new chart high or low. You generally, want a level that has been tested at least twice and the more times the better. What you are looking for is a level which the traders consider important.
If the break is a good one the following will occur:
As soon as the level is penetrated, stops behind the level are hit and push the price further in favour of the breakout, technical buying kicks in and pushes the price further from the breakout point and then as the new trend develops retail buyers want to get on board pushing the trend even further.
It sounds simple and logical and it is but most traders have a problem with taking breakouts and it's rooted in their psychology. When the break occurs they think, I have missed the start of the move, so better wait for a pullback to get in but the really big breakouts don't come back, the trend develops and the trader who waited misses the move.
The trader who simply bought the beak, missed the first bit of the move but he has the odds on his side of a continuation of the trend and stands to make money.
Most traders want to predict and buy tops and bottoms and be perfect but that's impossible, if they focused purely on making money, they would see the logic of breakouts which is simply trade the reality of price change and forget prediction.
When trading breakouts, you need to be patient and wait for the best trading signals. You need to pick levels which have been tested several times and are considered important by traders.
Breakout trading can be done easily, by anyone and doesn't take long to learn. You can put together a simple, breakout strategy together in a week or so and then start enjoying currency trading success.
I know traders who trade just a few times a month, spend 30 minutes a day, on their Forex trading strategy and make triple digit annual gains. Discover breakout trading and you will have a simple, easy to understand and timeless way to make big profits.
Forex Trading Made Easy
Are you kidding me? Forex trading isn't easy, it's about as risky a financial endeavor as you can legally participate in.Wait, let me rephrase that... foreign exchange trading is easy, success isn't. Yeah, that's right, that's my tag line. It's true.If you are looking for the easy button, here are some platitudes for you:Buy low and sell high.Have inside access to national economic reports.Witness a major international incident prior to the news reports.If you are willing to work hard, be patient, and work to preserve your capital, then here are some more helpful suggestions:Wait for a buying opportunity before entering a market.Manage your risk via position size and stop loss orders.Learn to recognize when you should not
Forex Bling Expert Advisors Review
We review several some of the best expert advisors and trading systems. They need to have a good money management and a balance between risk and reward.
Our purpose is to get an ongoing basket of trading systems that produces consistent 60%-100% profit per year while maintain Minimal Risk.
We do not make aggressive trades which could ruin our capital. Most of the trading systems that we run set to 1%-3% risk per trade. Full Story
Forex Bling: Questions and Answered
Beside our Forex Bling Manual, we add some answered questions about Forex Bling in this sections.
Since we receive a lot of similar questions, from time to time we add the answer at this page, it will reduce our time answering similar questions and provide more trading support.
We divide the Q&A below into several sections:
A. COMMON [...] Full Story
Forex Bling Exclusive Report Is Now Available
Forex Bling Exclusive Report Is Now Available. We have been working almost a year in Forex Bling program.
And for the past 5 months, we show our forward performances which made every month. Full Story
Our Forex Trading Performance for July 2009
July 2009 performance explanation:
Our basket for July 2009 contains 6 trading system:
1. Freedom – Risk=1% – Start Equity: $6,274.02
2. Grid Specialist – Risk=5% – Start Equity: $26,132.91
3. Evolution – Risk=1% – Start Equity: $11,488.41
4. Thunderwind – Risk=1% – Start Equity: $10,101.96
5. Thunderbolt – Risk=5% – Start Equity: $17,988.11
6. Thunderstorm – Risk=5% – Start Equity: $14.680.68
Profit/Loss [...] Full Story
Forex Trading Performance
Our Forex Trading Performance for 2009:
August : in progress
July : +6.81%
June : +28.45%
May : +13.45%
April: +15.71%
Trading system we use so far: Freedom, Evolution, Grid Specialist, Thunderwind, Thunderbolt, Thunderstorm.
Trading system we removed: Fractals-3 (replaced with Fractals-4).
Click here for July 2009 Performance in detail.
Click here for June 2009 Performance in detail.
Click here for May 2009 [...] Full Story
Fractals New Version (Version 4.0)
Fractal Wizard EA version 4.0 – New Version.
Version 4.0 is a major upgrade for our Fractals Wizard forex expert advisor.
The profit factor and drawdown level for Fractals EA version 4.0 are better than version 3.0. Full Story
Our Forex Trading Performance for June 2009
June 2009 performance explanation:
Our basket for June 2009 contains 4 trading system:
1. Freedom - Risk=1% – Start Equity: $5,731.07
2. Fractals-3 – Risk=2% – Start Equity: $57,699.36
3. Grid Specialist – Risk=5% – Start Equity: $22,462.2
4. Evolution – Risk=1% – Start Equity: $10,896.85
5. Thunderwind – Risk=1% – [...] Full Story
Vision Pro New Development
NFA once again have new regulations for NFA brokers. The new NFA regulations now prevent you from trading like before.
What you need to do in the USA (for NFA brokers) as of July 31, 2009:
* Can’t have hedging positions, it means OCO orders ( One cancels the
Our purpose is to get an ongoing basket of trading systems that produces consistent 60%-100% profit per year while maintain Minimal Risk.
We do not make aggressive trades which could ruin our capital. Most of the trading systems that we run set to 1%-3% risk per trade. Full Story
Forex Bling: Questions and Answered
Beside our Forex Bling Manual, we add some answered questions about Forex Bling in this sections.
Since we receive a lot of similar questions, from time to time we add the answer at this page, it will reduce our time answering similar questions and provide more trading support.
We divide the Q&A below into several sections:
A. COMMON [...] Full Story
Forex Bling Exclusive Report Is Now Available
Forex Bling Exclusive Report Is Now Available. We have been working almost a year in Forex Bling program.
And for the past 5 months, we show our forward performances which made every month. Full Story
Our Forex Trading Performance for July 2009
July 2009 performance explanation:
Our basket for July 2009 contains 6 trading system:
1. Freedom – Risk=1% – Start Equity: $6,274.02
2. Grid Specialist – Risk=5% – Start Equity: $26,132.91
3. Evolution – Risk=1% – Start Equity: $11,488.41
4. Thunderwind – Risk=1% – Start Equity: $10,101.96
5. Thunderbolt – Risk=5% – Start Equity: $17,988.11
6. Thunderstorm – Risk=5% – Start Equity: $14.680.68
Profit/Loss [...] Full Story
Forex Trading Performance
Our Forex Trading Performance for 2009:
August : in progress
July : +6.81%
June : +28.45%
May : +13.45%
April: +15.71%
Trading system we use so far: Freedom, Evolution, Grid Specialist, Thunderwind, Thunderbolt, Thunderstorm.
Trading system we removed: Fractals-3 (replaced with Fractals-4).
Click here for July 2009 Performance in detail.
Click here for June 2009 Performance in detail.
Click here for May 2009 [...] Full Story
Fractals New Version (Version 4.0)
Fractal Wizard EA version 4.0 – New Version.
Version 4.0 is a major upgrade for our Fractals Wizard forex expert advisor.
The profit factor and drawdown level for Fractals EA version 4.0 are better than version 3.0. Full Story
Our Forex Trading Performance for June 2009
June 2009 performance explanation:
Our basket for June 2009 contains 4 trading system:
1. Freedom - Risk=1% – Start Equity: $5,731.07
2. Fractals-3 – Risk=2% – Start Equity: $57,699.36
3. Grid Specialist – Risk=5% – Start Equity: $22,462.2
4. Evolution – Risk=1% – Start Equity: $10,896.85
5. Thunderwind – Risk=1% – [...] Full Story
Vision Pro New Development
NFA once again have new regulations for NFA brokers. The new NFA regulations now prevent you from trading like before.
What you need to do in the USA (for NFA brokers) as of July 31, 2009:
* Can’t have hedging positions, it means OCO orders ( One cancels the
Broco Trader (MetaTrader4)
Broco Trader terms Broco TraderForex specificationCFD futures specificationSpecifications of USD stocksSpecifications of CFD futures RusSpecifications of Russian stocksSpecifications of indexes
What
Broco Trader was constructed on the basis of the most popular Meta Trader 4 terminal.
The Broco Trader platform provides a complete trading experience with access to all financial markets and over 500 diverse financial tools — from Forex to indexes, futures CFDs and stocks.
Sign up and for a free forex demo account Metatrader and become a global forex trader (forex currency trader). Our demo forex trading platform (based on forex metatrader) will help improve you knowledge base to become a successful forex trader.
For whom
Broco Trader is the universal platform fitting both beginner traders and experienced users who developed their own trading strategies. For those who:
prefer minimum price for entering the market;
set continuous development and self–improvements as their goal in trading;
strive for getting maximum opportunities;
prefer non–aggressive trading style and has long–term intentions;
How it works
Interface of trading platform is customizable, one can set their personal profile according to individual requirements for a comfortable operation;
Having various types of orders which enables traders to risk or decrease risks of loosing funds;
Execution of orders is automatic and does not depend on the volume of transaction made by trader;
Facility of automation — i.e. when trader’s transactions are given to robot for execution;
Real–time changes of quotations, up–to–date news, charts for technical analysis.
To test demo-version of Broco Trader.
Why Broco Trader?
Orders for buy/sell are executed within 3 – 5 seconds;
The volume of transactions may amount to 0.01 lot, i.e. there is no need for big investments;
Deposit in different currencies — EUR, USD, RUR;
Wide array of products — Forex, currency futures CFD, indexes;
Guaranteed execution of order due to absence of Requotes;
Trading with Broco Group
Minimal deposit — $100;
Leverage — up to 1:200;
Putting order inside spread;
24–hours ’ technical support and assistance;
Information support of Clients;
Radio for traders BrocoPulse;
Regular technical overview;
Technical analysis by Trading Central in Client area;
Protection of your funds and personal information.
What
Broco Trader was constructed on the basis of the most popular Meta Trader 4 terminal.
The Broco Trader platform provides a complete trading experience with access to all financial markets and over 500 diverse financial tools — from Forex to indexes, futures CFDs and stocks.
Sign up and for a free forex demo account Metatrader and become a global forex trader (forex currency trader). Our demo forex trading platform (based on forex metatrader) will help improve you knowledge base to become a successful forex trader.
For whom
Broco Trader is the universal platform fitting both beginner traders and experienced users who developed their own trading strategies. For those who:
prefer minimum price for entering the market;
set continuous development and self–improvements as their goal in trading;
strive for getting maximum opportunities;
prefer non–aggressive trading style and has long–term intentions;
How it works
Interface of trading platform is customizable, one can set their personal profile according to individual requirements for a comfortable operation;
Having various types of orders which enables traders to risk or decrease risks of loosing funds;
Execution of orders is automatic and does not depend on the volume of transaction made by trader;
Facility of automation — i.e. when trader’s transactions are given to robot for execution;
Real–time changes of quotations, up–to–date news, charts for technical analysis.
To test demo-version of Broco Trader.
Why Broco Trader?
Orders for buy/sell are executed within 3 – 5 seconds;
The volume of transactions may amount to 0.01 lot, i.e. there is no need for big investments;
Deposit in different currencies — EUR, USD, RUR;
Wide array of products — Forex, currency futures CFD, indexes;
Guaranteed execution of order due to absence of Requotes;
Trading with Broco Group
Minimal deposit — $100;
Leverage — up to 1:200;
Putting order inside spread;
24–hours ’ technical support and assistance;
Information support of Clients;
Radio for traders BrocoPulse;
Regular technical overview;
Technical analysis by Trading Central in Client area;
Protection of your funds and personal information.
Forex Signal Provider? Which One?
So you decided to make full time leaving from foreign exchange market? Or you are going to supplement your income from here? You have set up yourself with proper broker available. I believe you spent hundred of hours in front of PC trying to put together all maths and physics involving currency market. Now you watching business news in the morning paper and following CNBC channel to be on the top with latest information from exchange market. You trading your demo account trying to figure out how to make it all work? So? Does it? No?
Face the fact that in currency market all is possible and there is no golden rule to follow. There are so many aspects to consider that you will need at least another head to set this puzzle together.
But do not worry there is a hope that can make it work.
Signal solutions for forex trading. People who traded forex for a long time and developed their own systems to enter and exit with profit strategies. They will share this knowledge with you for varieties of prices from usd49 to usd499 a month for those precious information. Problem is which one will suit you best. Are they scams? How do I know?
For medium advanced forex trader is almost impossible to choose proper forex signal system, which is not a scam, or at least not profitable. There is bulk of forex signals providers out there. They all offer their signal solution to trade currency with success.
Advice is that you will have to establish what type of trader are you? Do you want to trade quickly or maybe over the days or weeks? What losses can you manage and how much money you want to invest.
As long as you know al that it is a time to pick up signal trade provider.
Few things worth researching are: performance, service offered and rewievs of the signal. Search on forum for another users of the product you are interested in and ask for comment. Every profitable system should be up on collective2 with real track performance. Look for service offered. You will quickly find out that only few offer free trail-option to try signals before you pay. Demand performance evidence.
But while doing all that hard work choosing your automat forex signal system remember that you will have to totally follow it without exceptions to make most out of it. Any even small innovation may have dramatic results in your own gains.
Remember that your future profits will depend on your signal provider so calculate carefully and make smart decisions.
Face the fact that in currency market all is possible and there is no golden rule to follow. There are so many aspects to consider that you will need at least another head to set this puzzle together.
But do not worry there is a hope that can make it work.
Signal solutions for forex trading. People who traded forex for a long time and developed their own systems to enter and exit with profit strategies. They will share this knowledge with you for varieties of prices from usd49 to usd499 a month for those precious information. Problem is which one will suit you best. Are they scams? How do I know?
For medium advanced forex trader is almost impossible to choose proper forex signal system, which is not a scam, or at least not profitable. There is bulk of forex signals providers out there. They all offer their signal solution to trade currency with success.
Advice is that you will have to establish what type of trader are you? Do you want to trade quickly or maybe over the days or weeks? What losses can you manage and how much money you want to invest.
As long as you know al that it is a time to pick up signal trade provider.
Few things worth researching are: performance, service offered and rewievs of the signal. Search on forum for another users of the product you are interested in and ask for comment. Every profitable system should be up on collective2 with real track performance. Look for service offered. You will quickly find out that only few offer free trail-option to try signals before you pay. Demand performance evidence.
But while doing all that hard work choosing your automat forex signal system remember that you will have to totally follow it without exceptions to make most out of it. Any even small innovation may have dramatic results in your own gains.
Remember that your future profits will depend on your signal provider so calculate carefully and make smart decisions.
Fibonacci retracement levels
A term used in technical analysis that refers to the likelihood that a financial asset's price will retrace a large portion of an original move and find support or resistance at the key Fibonacci levels before it continues in the original direction. These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.
The Fibonacci Calculator, when used properly, is one of the most powerful tools in determining the support and resistance of a currency trade. Fibonacci calculator allows the Trader to set bounce and profit targets. The beauty of Fibonacci is best expressed through setting targets. Rather than react at the moment Price changes behavior, setting bounce and profit targets helps the trader to plan ahead, allowing price to come to the trader, instead of the trader chasing price.
The Fibonacci Calculator, when used properly, is one of the most powerful tools in determining the support and resistance of a currency trade. Fibonacci calculator allows the Trader to set bounce and profit targets. The beauty of Fibonacci is best expressed through setting targets. Rather than react at the moment Price changes behavior, setting bounce and profit targets helps the trader to plan ahead, allowing price to come to the trader, instead of the trader chasing price.
Course on Forex Trading
The term used to describe the trading of the currencies of the various countries of the world is called foreign exchange, forex or just FX. More than 1.5 trillion USD worth trade activities are conducted in the worlds largest forex market. The forex trade is not conducted by a central exchange unlike stock trading. Telephone or electronic networks are used to connect the two counterparts all over the world to make a trade. Moreover the forex market offers several advantages over equities trading.
Moneymaking or wealth creation is the main goal behind any trade. The opportunities in FX are boundless and it far exceeds the slim margins and picks of other markets like equity or share trading. Moreover the risk involved is also much less and to top it all forex trading can be conducted 24 hours a day. There are always buyers and sellers available, who make this trade more liquid and stable among all others. The banks too provide liquidity to investors, companies and institutions.
Just like any other financial instrument forex trading also involves a deep analysis about the fundamental and technical truths associated with the trade. Keeping in mind the general interest of traders looking forward to invest in forex, many forex trading courses are available. The main aim of this Forex Trading Course is to impart the necessary knowledge about the fundamental procedures and tips on better and professional trading policies.
Forex trading courses offer valuable information related to the impacts on global currencies, market risks, market trends etc. it not only benefits the new trader who wants to set foot on alien grounds, but also the existing investors who wish to brush up their tricks of the trade. All the aspects of the forex trading, using the latest software’s and tools are what the Forex Trading course material is comprised of. Step by step guidance on trade environments, technical analysis, risk management, trading rules, global markets, economic and market indication etc are provided along with the hands on practical guidance from the experienced tutors from all around the globe.
Many factors are to be considered before you make a decision to do Forex trading course. ‘Knowledge is power’ for all our daily diplomatic living. Knowledge on what we do and how we do, especially trading will not only enhance our business dealings but will also allow us to differentiate and track down market conditions. Managing our finance wisely will save us the fear and anxiety about our unpredictable and meek future. Forex trading courses often outline these basic business strategies in their course material.
Forex trading courses are available as online courses and also through printed books. Free tutorials and financial guidance is also provided by many web sites. Choosing a professional Forex Trading Course will provide you with details on
• The best time to trade specific currencies like Euro
• How to anticipate movements and trends in the global market
• Which pairs of currency to trade
• Best time to enter the forex market
• Market conditions and tips about efficient trading from experts
• Technical indicators
Overall a forex trading course should be a complete currency trading solution for all the queries regarding forex and its effective trading options.
Moneymaking or wealth creation is the main goal behind any trade. The opportunities in FX are boundless and it far exceeds the slim margins and picks of other markets like equity or share trading. Moreover the risk involved is also much less and to top it all forex trading can be conducted 24 hours a day. There are always buyers and sellers available, who make this trade more liquid and stable among all others. The banks too provide liquidity to investors, companies and institutions.
Just like any other financial instrument forex trading also involves a deep analysis about the fundamental and technical truths associated with the trade. Keeping in mind the general interest of traders looking forward to invest in forex, many forex trading courses are available. The main aim of this Forex Trading Course is to impart the necessary knowledge about the fundamental procedures and tips on better and professional trading policies.
Forex trading courses offer valuable information related to the impacts on global currencies, market risks, market trends etc. it not only benefits the new trader who wants to set foot on alien grounds, but also the existing investors who wish to brush up their tricks of the trade. All the aspects of the forex trading, using the latest software’s and tools are what the Forex Trading course material is comprised of. Step by step guidance on trade environments, technical analysis, risk management, trading rules, global markets, economic and market indication etc are provided along with the hands on practical guidance from the experienced tutors from all around the globe.
Many factors are to be considered before you make a decision to do Forex trading course. ‘Knowledge is power’ for all our daily diplomatic living. Knowledge on what we do and how we do, especially trading will not only enhance our business dealings but will also allow us to differentiate and track down market conditions. Managing our finance wisely will save us the fear and anxiety about our unpredictable and meek future. Forex trading courses often outline these basic business strategies in their course material.
Forex trading courses are available as online courses and also through printed books. Free tutorials and financial guidance is also provided by many web sites. Choosing a professional Forex Trading Course will provide you with details on
• The best time to trade specific currencies like Euro
• How to anticipate movements and trends in the global market
• Which pairs of currency to trade
• Best time to enter the forex market
• Market conditions and tips about efficient trading from experts
• Technical indicators
Overall a forex trading course should be a complete currency trading solution for all the queries regarding forex and its effective trading options.
Successful Forex Trading, Forex Hates Procrastinators
What have you put off today? Something important you had to do that you ended up not doing? Well i am sorry to say this but Forex doesn't like you very much, it won't actually come out and say this, but it will definatley show you by eating all your money.
Why do lazy people flounder in the forex market?
1. They put off getting a broker too long and then often make a bad choice.
2. They don't do any research or engage in education and therefore end up gambling.
3. They clutter up informative blogs and forums with their incessant whines about how forex is a scam and can anyone lend them $20 because they are good for it.
4. They are often emotional about trades and will either get too excited after a good trade or try to take revenge on the market after a bad loss.
Does this look like a successful traders mindset to you? Of course it isn't. Are you guilty of any of these things? If you are get it sorted ASAP, not or my sake, but for your own. It isn't my money you are gambling away. "But i thought forex is investing not gambling?" Thank you! I don't gamble in forex, i invest, many other traders i know invest as well. Whats the difference? Education my friend, education. We know what we are doing, and make educated decisions about where we want our money, a forex gambler wakes up in the morning and just decides then and there where he is going to flush away some more money. They don't research, they don't even know what a chart looks like, they just go with uneducated gut feelings.
But let's stop talking about forex gamblers before i have a stroke, what about successful traders?
1. They research brokers and then choose one and stick to it until the broker gives them reason not to.
2. They are always learning. What is a better indicator to use? What have i done wrong in the last week? This is the kind of thing that sharpens their trading sword so sharp it could cut space and time.
3. They don't post often, they might not ever post on a forum or blog. To them forex is about learning and they would rather listen then speak. Humble eh?
4. They keep their cool. They know that a win can turn into a loss and the other way around within the next 5 minutes. They have the experience and they have already set up their trades to accomodate for a turn in fortune. They are in control. Well mostly.
So the main point of all this text is to realize that if you can't even bother having a shower when you wake up in the morning, how are you ever going to be successful in something as demanding, but equally as rewarding as forex? You aren't because forex hates you.
Why do lazy people flounder in the forex market?
1. They put off getting a broker too long and then often make a bad choice.
2. They don't do any research or engage in education and therefore end up gambling.
3. They clutter up informative blogs and forums with their incessant whines about how forex is a scam and can anyone lend them $20 because they are good for it.
4. They are often emotional about trades and will either get too excited after a good trade or try to take revenge on the market after a bad loss.
Does this look like a successful traders mindset to you? Of course it isn't. Are you guilty of any of these things? If you are get it sorted ASAP, not or my sake, but for your own. It isn't my money you are gambling away. "But i thought forex is investing not gambling?" Thank you! I don't gamble in forex, i invest, many other traders i know invest as well. Whats the difference? Education my friend, education. We know what we are doing, and make educated decisions about where we want our money, a forex gambler wakes up in the morning and just decides then and there where he is going to flush away some more money. They don't research, they don't even know what a chart looks like, they just go with uneducated gut feelings.
But let's stop talking about forex gamblers before i have a stroke, what about successful traders?
1. They research brokers and then choose one and stick to it until the broker gives them reason not to.
2. They are always learning. What is a better indicator to use? What have i done wrong in the last week? This is the kind of thing that sharpens their trading sword so sharp it could cut space and time.
3. They don't post often, they might not ever post on a forum or blog. To them forex is about learning and they would rather listen then speak. Humble eh?
4. They keep their cool. They know that a win can turn into a loss and the other way around within the next 5 minutes. They have the experience and they have already set up their trades to accomodate for a turn in fortune. They are in control. Well mostly.
So the main point of all this text is to realize that if you can't even bother having a shower when you wake up in the morning, how are you ever going to be successful in something as demanding, but equally as rewarding as forex? You aren't because forex hates you.
Winning Forex, the 100k Challenge
It wasn't easy but we did it, $1k to $100k on both demo and live accounts. Let's take a moment to celebrate and then get down to business. There, was that long enough? Ok.
Why did some people make it and other give up or just painfully failed? I have narrowed it down to several reasons. Hopefully you will be able to take these lessons away from this article and implement them into your own trading.
1. Trading more then 1% a trade.
Seems a little weird that the people who eventually made the $100k only risked a max of 1% of their capital in any given trade? Well thats what everyone who made it did. Trading this amount of capital keeps you in the game if you eventually run into a losing streak on the market. This is a vital piece of information to remember. Even though your profits will be lower then a person who risks, say, 10% a trade, your long term ability to stay in the game is far greater then the 10% trader.
2. Trading more then 3 major currency pairs at a time.
There is no way getting around it, Forex can sometimes be a risky and volatile market. Information saturates the Internet about every major currency pair. Keeping track of more then 3 currency pairs will often leave the trader in paralysis of analysis. Personally i only trade 2 majors and keep up to date on those. Being a master of 2 currency pairs is far better then being a jack of all pairs and a master of none.
3. Being lazy and not constantly learning.
People change, and markets based on people change with them. Forex changes all the time, what is a favoured currency, what isn't favoured can change week to week. My point here is not to only trade the news, my point is that the people who succeeded in making the $100k were always chaperoning their skills. This market can make you filthy rich so why wouldnt you spend the time learning all you can about it? I can never understand new traders who read a few books on Forex and think that their learning is finished. If you want to make money off Forex remember this, the cost of trading forex is Capital and Learning.
4. Only focusing on one time frame.
Last but not least here is something we probably all did as new traders. But the sooner you kick this habit the better off you will be. Let me give you an example. If a daily chart is showing an upward trend reversal, but on a 1 minute chart it is showing a strong start to an upward trend, if you are only focusing on the 1 minute chart you are going to lose a lot of Cheddar. My point here is simple, keep an eye on the overall picture at all times. Use 2 -3 different time period charts for a big picture and then use 1 to make your trading decision.
Remember the Forex market does not play favorites. Learn to trade smarter and the profits will follow
Why did some people make it and other give up or just painfully failed? I have narrowed it down to several reasons. Hopefully you will be able to take these lessons away from this article and implement them into your own trading.
1. Trading more then 1% a trade.
Seems a little weird that the people who eventually made the $100k only risked a max of 1% of their capital in any given trade? Well thats what everyone who made it did. Trading this amount of capital keeps you in the game if you eventually run into a losing streak on the market. This is a vital piece of information to remember. Even though your profits will be lower then a person who risks, say, 10% a trade, your long term ability to stay in the game is far greater then the 10% trader.
2. Trading more then 3 major currency pairs at a time.
There is no way getting around it, Forex can sometimes be a risky and volatile market. Information saturates the Internet about every major currency pair. Keeping track of more then 3 currency pairs will often leave the trader in paralysis of analysis. Personally i only trade 2 majors and keep up to date on those. Being a master of 2 currency pairs is far better then being a jack of all pairs and a master of none.
3. Being lazy and not constantly learning.
People change, and markets based on people change with them. Forex changes all the time, what is a favoured currency, what isn't favoured can change week to week. My point here is not to only trade the news, my point is that the people who succeeded in making the $100k were always chaperoning their skills. This market can make you filthy rich so why wouldnt you spend the time learning all you can about it? I can never understand new traders who read a few books on Forex and think that their learning is finished. If you want to make money off Forex remember this, the cost of trading forex is Capital and Learning.
4. Only focusing on one time frame.
Last but not least here is something we probably all did as new traders. But the sooner you kick this habit the better off you will be. Let me give you an example. If a daily chart is showing an upward trend reversal, but on a 1 minute chart it is showing a strong start to an upward trend, if you are only focusing on the 1 minute chart you are going to lose a lot of Cheddar. My point here is simple, keep an eye on the overall picture at all times. Use 2 -3 different time period charts for a big picture and then use 1 to make your trading decision.
Remember the Forex market does not play favorites. Learn to trade smarter and the profits will follow
Forex Strategy- Following Existing Trend
When you trade with existing trends, you are going to be analyzing the market and its price moves. Once you learn the ins and outs of the system, you will be able to spot the signals that indicate different price moves. This may be a good catch of a grip over the market. This system is absolutely dependent upon the promise that trends are much more likely to stick than they are to change.
The forex market is not nearly as predictable as some other investment markets simply because of the liquidity involved in the market. People can move their cash quickly, so the market is ever-changing. Still, the market is stable enough that if you can base your strategy around trends, you will know what is going to happen with alarming regularity.
The forex market is not nearly as predictable as some other investment markets simply because of the liquidity involved in the market. People can move their cash quickly, so the market is ever-changing. Still, the market is stable enough that if you can base your strategy around trends, you will know what is going to happen with alarming regularity.
Best Online Trading Company
The first step is always the hardest in any endeavor and its success or failure can dictate our entire future thinking the project which can be unfortunate if the first step goes awry. Getting started trading online can be very scary for a beginner, the time and money investment with so much uncertain outcome puts many off or makes newcomers very tentative and looking for a soft start to help them along. This is not a bad idea per se but what most people will look for is some sort of training manual or an expert to tell them what to do or a simulator to practice on. Online trading course, trading seminars or online paper trading in other words.
Just to define these terms quickly for beginners.
online trading course -
Fairly simple, this is a course made some self proclaimed expert on how to trade online, quality can vary however and is often very impersonal or relies on a lot of assumed knowledge. While some can be excellent picking the good from the bad is problematic but if you find one that works for you can be less time consuming and cheaper than the next type.
Trading seminar -
Seminars can range from very large expensive shows to smaller more personal meetings usually headed by a successful trader with some sales flair. While you can usually check the pedigree of the speaker easily seminars are time consuming and often impersonal, not to mention sometimes ridiculous costs. Some people can learn this way but many can not.
Online paper trading -
Paper trading is the act of pretending to invest money and calculating the outcomes. It is a good way to practice trading without investing anything and can show you many errors you can make along the way without it affecting your bank account. The downside to paper trading is can take a very long time and you still will not learn many key points an expert may be able to teach you.
Now obviously you can do all three of but these is also so much a thing as over learning something and you may waste a huge amount of time you could be making money doing this. So for a beginner where should you start?
First I suggest you look at your life, priorities, learning trends and money of course. Pick something that is best for you, if you are already revved up and want to get straight into it you may want a course or get into the vibe at a seminar, for those who are more cautious by nature a trial run with paper trading might get you into it more but I would not focus too much on that. IF money is an issue the seminars may be right out of the question however as they can be prohibitively expensive. The course has the advantage that you can always reference it again however but quality issues.
Most people getting started trading online in my opinion would benefit from an online trading course and doing a limited amount of paper trading to practice the things learned in their course. While trading seminars will work for some people the downsides to them can be off putting and the learning style is an acquired taste to many. Just remember a wise man learns from mistakes ... but a clever man learns from the mistakes of others and their successes. You can be wise and clever with a mixed approach as long as you can learn independently and can take a few hits even when the real money comes into play. Good luck and good trading!
Ready to start that first step? Made your decision on what help you need to get started? Well STOP right now before you waste you money and time! Click here to find out the BEST way to get started online trading!
http://financialfixes.blogspot.com/2007/11/my-personal-adventures-in-trading.html
Just to define these terms quickly for beginners.
online trading course -
Fairly simple, this is a course made some self proclaimed expert on how to trade online, quality can vary however and is often very impersonal or relies on a lot of assumed knowledge. While some can be excellent picking the good from the bad is problematic but if you find one that works for you can be less time consuming and cheaper than the next type.
Trading seminar -
Seminars can range from very large expensive shows to smaller more personal meetings usually headed by a successful trader with some sales flair. While you can usually check the pedigree of the speaker easily seminars are time consuming and often impersonal, not to mention sometimes ridiculous costs. Some people can learn this way but many can not.
Online paper trading -
Paper trading is the act of pretending to invest money and calculating the outcomes. It is a good way to practice trading without investing anything and can show you many errors you can make along the way without it affecting your bank account. The downside to paper trading is can take a very long time and you still will not learn many key points an expert may be able to teach you.
Now obviously you can do all three of but these is also so much a thing as over learning something and you may waste a huge amount of time you could be making money doing this. So for a beginner where should you start?
First I suggest you look at your life, priorities, learning trends and money of course. Pick something that is best for you, if you are already revved up and want to get straight into it you may want a course or get into the vibe at a seminar, for those who are more cautious by nature a trial run with paper trading might get you into it more but I would not focus too much on that. IF money is an issue the seminars may be right out of the question however as they can be prohibitively expensive. The course has the advantage that you can always reference it again however but quality issues.
Most people getting started trading online in my opinion would benefit from an online trading course and doing a limited amount of paper trading to practice the things learned in their course. While trading seminars will work for some people the downsides to them can be off putting and the learning style is an acquired taste to many. Just remember a wise man learns from mistakes ... but a clever man learns from the mistakes of others and their successes. You can be wise and clever with a mixed approach as long as you can learn independently and can take a few hits even when the real money comes into play. Good luck and good trading!
Ready to start that first step? Made your decision on what help you need to get started? Well STOP right now before you waste you money and time! Click here to find out the BEST way to get started online trading!
http://financialfixes.blogspot.com/2007/11/my-personal-adventures-in-trading.html
Tips for Trading in Forex- Don't Pinpoint Tops & Bottoms
Many new traders attempt to try to pinpoint where a currency pair will turn around and start moving the opposite direction. This is something that is difficult even for professional traders. Avoid taking rushing decision for selective trade in top currencies and avoid others. Every cuurency has a potential to turn into massive return for you, but just demands a favourable patience.
Brushing Fundamentals of Forex
Forex stands for "Foreign Exchange Market". Forex is the International foreign exchange market where currencies are being sold and bought by investors freely, FOREX is known to be the biggest and most liquid financial market in the world with around $3 Trillion been traded in the Forex Market daily. FOREX investors’ trade via the telephone or online due to efficiency and effectiveness. Due to modern day technology clients can trace their investments through their computer and see results in real-time.
The FOREX market is open 24 hours a day throughout the working week which makes trading much easier and profitable for global participants. The market schedule of the FOREX Market is related to the time zone of its functional market such as London, New York, Hong Kong, Tokyo and Sydney. The FOREX market is one of the fastest growing financial markets for both retail and professional investors.
The FOREX market is open 24 hours a day throughout the working week which makes trading much easier and profitable for global participants. The market schedule of the FOREX Market is related to the time zone of its functional market such as London, New York, Hong Kong, Tokyo and Sydney. The FOREX market is one of the fastest growing financial markets for both retail and professional investors.
COMMISSION-FREE FOREX TRADING
Straighthold Investment Group allows you to make currency transactions on the Forex market with minimal expense - you pay no commissions, just spreads.
INTEREST INCOME
We also pay competitive interest income on the balance amount not invited in trading on a monthly basis.
UNBEATABLE FIXED BID/ASK SPREADS
We offer unbeatable fixed spreads starting from 3 points. So, constant spread size doesnt depend on market activity.
INSTANT EXECUTION
For placing trade orders we employ Instant Execution technology. In this case on-line traders dont need to request quotes before entering the Forex market. They just open and close positions at the price they see on the monitor.
NO DEALING DESK
The technology of auto-hedging helps to almost completely eliminate the need for a dealer in transactions. All orders are automatically executed. Besides, the processes of account crediting and debiting are highly automated and use the most popular electronic payment systems.
WIDE VARIETY OF ACCOUNT TYPES
LiteForex offers traders a choice of trading accounts that correspond to their Forex trading strategy and financial skills.
LITEForex The LITEForex account group has been developed for beginners above all, but can also be used by traders who wish to test their mechanical trading systems. The main advantage of the LITEForex managed Forex account is that you only need a starting deposit of 1 US dollar. After you open the LITEForex managed Forex account you can trade through our company on the same terms as other traders, who work on other account groups. The only difference is the operating amount.*
REALForex This account group is particularly intended for Forex professionals who have sufficient experience working with large sums.
Regardless of the account type, Straighthold Investment Group lets Forex traders choose a leverage rate of from 1:50 to 1:200.
WIDE VARIETY OF TRADING INSTRUMENTS
LiteForex offers 43 trading instruments including spot Gold, spot Silver and 8 currency indexes in order to provide Forex traders with the best opportunity to choose the most suitable trading instruments.
MOST POPULAR TRADING PLATFORM
Straighthold Investment Group provides Forex traders with the most popular Forex trading platform the MetaTrader 4.
DEDICATED FOREX TRADING SERVERS
To ensure the highest quality of service, LiteForex provides three dedicated Forex trading servers for Virtual, Lite and Real traders. Each Forex trading server has a wide variety of data centers (customer's access points) in different locations around the world to provide the quickest possible connection of the customer's Forex trading terminal to the companys Forex trading servers.
EXPERIENCED CUSTOMER SUPPORT
Our company provides services to Forex beginners with minimum investments as well as to Forex professionals; so we employ the most experienced Forex experts and technical support staff available on a 24/5 time basis.
WIDE PARTNERSHIP OPPORTUNITIES
For those customers who want to earn risk-free income not involved in Forex trading, LiteForex offers a wide variety of partnership opportunities including a competitive Affiliate program, Introducing Broker program and White Label program.
INTEREST INCOME
We also pay competitive interest income on the balance amount not invited in trading on a monthly basis.
UNBEATABLE FIXED BID/ASK SPREADS
We offer unbeatable fixed spreads starting from 3 points. So, constant spread size doesnt depend on market activity.
INSTANT EXECUTION
For placing trade orders we employ Instant Execution technology. In this case on-line traders dont need to request quotes before entering the Forex market. They just open and close positions at the price they see on the monitor.
NO DEALING DESK
The technology of auto-hedging helps to almost completely eliminate the need for a dealer in transactions. All orders are automatically executed. Besides, the processes of account crediting and debiting are highly automated and use the most popular electronic payment systems.
WIDE VARIETY OF ACCOUNT TYPES
LiteForex offers traders a choice of trading accounts that correspond to their Forex trading strategy and financial skills.
LITEForex The LITEForex account group has been developed for beginners above all, but can also be used by traders who wish to test their mechanical trading systems. The main advantage of the LITEForex managed Forex account is that you only need a starting deposit of 1 US dollar. After you open the LITEForex managed Forex account you can trade through our company on the same terms as other traders, who work on other account groups. The only difference is the operating amount.*
REALForex This account group is particularly intended for Forex professionals who have sufficient experience working with large sums.
Regardless of the account type, Straighthold Investment Group lets Forex traders choose a leverage rate of from 1:50 to 1:200.
WIDE VARIETY OF TRADING INSTRUMENTS
LiteForex offers 43 trading instruments including spot Gold, spot Silver and 8 currency indexes in order to provide Forex traders with the best opportunity to choose the most suitable trading instruments.
MOST POPULAR TRADING PLATFORM
Straighthold Investment Group provides Forex traders with the most popular Forex trading platform the MetaTrader 4.
DEDICATED FOREX TRADING SERVERS
To ensure the highest quality of service, LiteForex provides three dedicated Forex trading servers for Virtual, Lite and Real traders. Each Forex trading server has a wide variety of data centers (customer's access points) in different locations around the world to provide the quickest possible connection of the customer's Forex trading terminal to the companys Forex trading servers.
EXPERIENCED CUSTOMER SUPPORT
Our company provides services to Forex beginners with minimum investments as well as to Forex professionals; so we employ the most experienced Forex experts and technical support staff available on a 24/5 time basis.
WIDE PARTNERSHIP OPPORTUNITIES
For those customers who want to earn risk-free income not involved in Forex trading, LiteForex offers a wide variety of partnership opportunities including a competitive Affiliate program, Introducing Broker program and White Label program.
Polycom VSX 7000s
The Polycom VSX 7000s is an updated version of the Polycom VSX 7000. The VSX 7000s has a XGA port built on to the back where as the original VSX7000 required an adapter to connect to an XGA monitor.
The Polycom VSX7000s is Polycom’s latest set-top platform for videoconferencing. The VSX 7000s supports up to 2Mpbs calling, H.264 video compression, 14KHz audio, and H.239 PC content support. The Polycom VSX 7000s can also support ISDN with optional network modules. The VSX7000s can also be upgraded to a 4-Site multi-point system.
The Polycom VSX 7000s can be placed on top of any TV or XGA display, providing quality video conferencing and can support additional displays, Polycom microphones, a speaker kit, additional Polycom network modules, multipoint features and more.
The VSX7000s features optimal motion handling and video resolution and is capable of providing natural motion and clear images for an optimal videoconferencing experience.
New and Refurbished Polycom VSX7000s equipment includes all required cables, accessories, on-call technical support, and a one-year warranty.
The Polycom VSX7000s is Polycom’s latest set-top platform for videoconferencing. The VSX 7000s supports up to 2Mpbs calling, H.264 video compression, 14KHz audio, and H.239 PC content support. The Polycom VSX 7000s can also support ISDN with optional network modules. The VSX7000s can also be upgraded to a 4-Site multi-point system.
The Polycom VSX 7000s can be placed on top of any TV or XGA display, providing quality video conferencing and can support additional displays, Polycom microphones, a speaker kit, additional Polycom network modules, multipoint features and more.
The VSX7000s features optimal motion handling and video resolution and is capable of providing natural motion and clear images for an optimal videoconferencing experience.
New and Refurbished Polycom VSX7000s equipment includes all required cables, accessories, on-call technical support, and a one-year warranty.
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