Forex Currency Trading

Forex Trading Advice - How to Get Rich in Forex Trading

noreply@blogger.com (kendi35646) — Mon, 09 Feb 2009 22:38:00 +0000

Can you get rich in forex trading? Yes you can, anyone has the potential to learn to be a trader - it's a learned skill but 95% of traders lose, so what do they do wrong and what do the elite 5% who win do right? The forex trading advice enclosed will give you the answer and the answer may well surprise you.

Let me start with a well known story which shows anyone has the potential to be a winner at forex trading:

In the 1980's trading legend Richard Dennis set out to prove that anyone could be a winning trader and trading was a learned skill. So he got a group of people who had never traded before and taught them in 14 days. He then set them off to trade and the rest is history. They made Dennis over $100 million dollars in 4 years and went onto become trading legends.

So if it's that easy how come everyone doesn't win? Well first you need the right education - but you need something more which Dennis understood and you need to as well.

The trading method taught was simple ( essentially a long term breakout strategy with strict money management) but Dennis knew it would be hard to follow it so he taught them everything about it, to have confidence in it and execute it with rigid discipline through long periods of losses to achieve long term success.

The missing link for most traders is discipline - they hear the word but have no idea of what it really entails.

Executing a system with discipline is tough when you take losses for weeks on end ( don't believe all the rubbish you read on the net about little or no drawdown, it happens to ALL traders - even the great ones and can last weeks or months )
What you have to do is stick on your path and eventually, if your system is sound you will hit the big profits.

You will only ever acquire discipline if you know your system, how and why it works and why it will win.

Today most people buy junk forex robots off the net which lose, which goes with the forex trading is easy tag, put about by vendors who have never traded in their lives. As a trader that insults my industry, forex trading is easy to learn making money is harder, and you would expect it to be with the rewards on offer.

Of course, you can win and make even a life changing income, maybe not as much as the group Dennis taught but you have the opportunity and success is open to all, if they understand that their on their own and responsible for their destiny.

Dennis knew this and his students succeeded with a simple trading system, they believed in could have confidence in and could trade with discipline.

So the forex advice I would give you is:

Forex trading is a challenge, understand it's not easy, but you can do it ( anyone can ) if you have the right mindset, right forex education and the discipline to pursue your goal.

Sure it's a challenge but it's an exciting one and its one where you can enjoy currency trading success if you put your mind to it.

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noreply@blogger.com (kendi35646) — Sat, 07 Feb 2009 23:03:00 +0000

Most dub foreign exchange as a game of luck, or the business of the rich because of the industries risks and gains in a matter of a bad buy or good sell. But actually it is an industry for all who have meticulous taste on financial foregoing. People of this skill are not born, they are made. And that is what easy forex is for. It is a company that trains and educates ambitious traders to become one of their successful senior specialists. All of these are an easy acquire through their fully automated services, which are not negated with hands on touch as all services are provided in one-on-one process.

The foreign exchange business is made efficiently fast learned through easy forex processes. It has easy trading platforms, four to be exact for traders to choose from.

1.) Trader windows. A highly customized windows-based platform for active traders to manage their positions fast and easy
2.) Trader Java. Platform on Java lets traders manage up to second position efficiently either on Mac or PC.
3.) Trader Web. This type of platform provides access even if you are away to your computer. Just log on to your account using any computer with internet connection.
4.) Trader wireless. Access your account through PDA, Blackberry, or any cell phone enabled with internet.

With these four platforms, traders will learn easy forex with speed and effectiveness beyond compare. You can view real-time prices, execute market orders, track positions, choose from 8 different ordering classes, do technical analysis, access research reports, and view headlines and news in a single screen. Isn't that really easy and comprehensive? Best is you get to switch from all platforms, in the same ID and password you are provided with. Now, that's what you call easy forex!

We highly recommend you view our in-depth forex trading software reviews to receive detailed comparisons of the latest software along with its features, positives and negatives. We have thoroughly tested these software packages against other industry systems and picked out the top 5 for our final reiview comparison.

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Forex Trading - How to Take Advantage of Forex

noreply@blogger.com (kendi35646) — Sat, 07 Feb 2009 09:39:00 +0000

Forex Trading used to belong to the big dogs. Now, everyone can get into forex. Not until recently, only those who are expert on forex or those who are really knowledgeable on forex are able to make a profit on it. One need to know how to analyze forex, know every indicator and know every currency pair, to have at least a slight chance of success wuth forex. In this article, we will focus on a more easier way to conquer forex trading, by taking advantage of something we took for granted.

But first, why forex? Forex is a 24 hour market. Unlike stocks, you can trade forex anytime and anywhere. Not many people realize this, but you don't need huge amount of capital to invest in forex. With just a few thousand dollars, you are able to trade in forex. There are many benefits in forex compare to other market. That is the first thing we took for granted, we never fully understand and know what forex is offering to us.

For a complete dummy to make money from forex, one does not need to have any forex knowledge. Nor does one need any certain computer skills to profit from forex. All one needs is a working PC and a reliable internet connection. You may ask, "How can this be?" It is very simple really. With the use of an automated trading system, one is able to achieve profiting from forex.

What an automated trading system does is it makes trades for you, and is able to be on auto pilot. As the term suggest, you can just leave it running on your PC making money, while you spend the rest of the day doing anything you want. This is excellent who have a busy schedule and even for parents with demanding children. Not many know the existence of an automated trading system. I was also wasn't aware of it until recently.

The good thing about automated trading system is that it is really cheap compare to one of those forex guru seminars, which could cost up to thousands. Most automated trading system only cost less than a $100.

To make life even easier, most of these automated trading systems offer a 60 day money back guarantee. And with this offer, you are able to get a perfect trading system without risking any money.

How, you ask? Let's think for a second. They offer a 60 day money back guarantee, and you need to be sure that it does what it says, which is making money. So you get the automated trading system, test drive it on a demo account (which is using free money, another forex benefits people are taking for granted) before the 60 days are up. If it does not make any money, return it and get your money back and look for another automated trading software. See how fool proof this plan is? Many people are getting into this plan because it really does work.

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Automatic Forex Trading - For Fun and Profit!

noreply@blogger.com (kendi35646) — Fri, 06 Feb 2009 23:16:00 +0000

Everyone has heard of, and most have indulged in some form of stock trading or the other. However, there is a new kid on the block and its name is Forex Trading.

Online currency trading is a fast growing market. The Forex Market never sleeps. A currency trader may take advantage of all market conditions at any time. There is no waiting for an opening bell as in the case of trading stocks. It is a 24-hour, continuous currency exchange that never closes (normal hours of operation are Sunday 1pm through Friday 2pm Pacific standard time). This is very desirable for those who want to trade on a part-time basis, because you can choose when you want to trade: morning, noon or night.

Trading Forex

The first currency in the pair is referred to as the base currency, and the second currency is the counter or quote currency. The U.S Dollar, as the world's dominant currency, is usually considered the base currency for quotes, and includes USD/JPY, USD/CHF, and USD/CAD. This means that quotes are expressed as a unit of $1 USD per the other currency quoted in the pair. The exceptions are the Euro, Great Britain pound, and Australian dollar. These currencies are quoted as dollars per foreign currency.

As with all financial products, FX quotes include a "bid" and "ask". The bid is the price at which a market maker is willing to buy (and clients can sell) the base currency in exchange for the counter currency. The ask is the price at which a market maker will sell (and clients can buy) the base currency in exchange for the counter currency. The difference between the bid and the ask price is referred to as the spread.

The most important Forex market is the spot market as it has the largest volume. The market is called the spot market because trades are settled immediately, or "on the spot". In practice this means two banking days.

Why Trade Forex?

24 hour trading
One of the major advantages of trading Forex is the opportunity to trade 24 hours a day from Sunday evening to Friday evening. This gives you a unique opportunity to react instantly to breaking news that is affecting the markets.
Superior liquidity
With $2.1 trillion changing hands daily, the FX market is extremely liquid. This means you can rapidly buy and sell currencies at any offered market price. You can even set the online trading platform to quickly close your position at your desired profit level (limit order), and/or close a trade if a trade is going against you (stop order).
No commissions
The fact that Forex is often traded without commissions makes it very attractive as an investment opportunity for investors who want to deal on a frequent basis. Trading the "majors" is also cheaper than trading other cross because of the high level of liquidity.
100:1 Leverage
Forex investors are permitted to trade foreign currencies on a highly leveraged basis which could be up to 100 times their investment. An investment of US $1,000 controls US $100,000 of any particular currency. A small margin deposit can control a much larger total contract value. Of course, as with all leverage one must be very careful with it since it can lead to large losses as well as gains.
Profit potential in falling markets
Since the market is constantly moving, there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency. When you trade currencies, they literally work against each other. If the EURUSD declines, for example, it is because the US dollar gets stronger against the euro and vice versa. So, if you think the EURUSD will decline (that is, that the euro will weaken versus the dollar), you would sell EUR now and then later you buy euro back at a lower price and take your profits. The opposite trading scenario would occur if the EURUSD appreciates.

Forex trading for newbies!

Forex trading, like most forms of trading is highly competitive and most people would end up losing money by going in uninformed and unaided. However, thanks to the power of the internet and leverage offered by independent brokers the ability to trade forex has become much easier and is fast becoming the number 1 home based business opportunity.

Forex software allows even the most technically challenged among us trade forex successfully for a living. Pretty much all that is required is a computer and a connection to the Internet. Once installed the 'forex tracer' meticulously scans the market for trading opportunities and automatically picks off the trades with good precision. Now you may be a bit sceptical, I know I was, so why not put the system to the test on a demo account first? Once purchased you can download a demo account here http://www.forexmeta.com/freedemo.php which allows you to trade with play money. If it all goes well, then you could set up a real account and do some real trading!

http://www.frxtracer.info

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Forex Trading Mistakes - 2 Common Mistakes the Majority of Traders Make and Lose!

noreply@blogger.com (kendi35646) — Thu, 05 Feb 2009 22:32:00 +0000

The 2 x forex mistakes we will look at here are made by the vast majority of new traders and they simply guarantee you will lose so here they are and make sure you avoid them or you will join them...

Trading a Forex Robot with a Simulated Track Record

The bulk of traders don't even bother learning forex they simply buy a forex robot from a vendor and believe the hype they can get rich with them. They see the track record and think they will do as well in real life but what they don't realize is the system doesn't have a real track record - it's simulated! This means it's never been traded and made up using past data.

Most forex robots are junk and it is unbelievable that people who are sensible in other areas of life fall for them and the exaggerated claims they put forward but they do and it's a huge proportion of new traders.

If you want to make money don't believe spending $100 on a piece of software and knowing nothing will help you win it won't.

Using Short Term Trading for Profit

Most traders who want to trade forex don't pick sensible time periods and go for forex swing trading or long term trend following but go for short term trading strategies such as day trading and scalping and these don't work! Why?

It's pretty obvious that all daily price action is of a random nature so you can't use daily levels and the idea that you can tell what a vast diverse of traders is going to do in a few hours is nave. You can't and while it may look low risk it's a very high risk form of trading, as you will never get the odds on your side.

HOW TO WIN

If you want to win at forex trading forget following others and forget forex trading strategies that are destined to lose and get the right forex education.

Anyone can learn to trade forex but you need to put in some effort and learn logical ways to trade and get a method you can apply with discipline - do this and you will be well rewarded for your efforts and can enjoy currency trading success.

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Forex Trading - The Road to Financial Freedom If You Understand These Key Points

noreply@blogger.com (kendi35646) — Thu, 05 Feb 2009 08:17:00 +0000

Forex trading can be a road to financial freedom or at least a great second income but 95% of traders fail not because they can't achieve it but due to the errors contained in this article - avoid them and you can enjoy currency trading success...

Here are the key points you need to understand.

1. You are Responsible

You're on your own and there is no one who will give you success. Forget the mentors gurus and systems who say they will make you rich, they won't. You don't get on the road to financial freedom buying a system from a vendor which has never been traded, that's not life.

You need to do it on your own and if you do, then you will not only have the right knowledge to succeed but also confidence in what your doing, to have discipline to stick with your plan.

2. Why You Can Win

Everything about successful trading can be learned and this was proved to dramatic effect by trading legend Richard Dennis who taught a group people with no trading experience to trade in just 14 days and they went down as trading legends, earning hundreds of millions of dollars within a few years.

Dennis knew anyone could learn to trade and he proved it.

Sure you might not be as successful as his group but the opportunity is open to you.

3. Work Smart not Hard

You don't get rewarded for effort you get rewarded for results generated from your trading signals.

To learn to trade should take you no more than a couple of weeks and your then all set to enjoy currency trading success in around 30 minutes or less a day.

The key is getting the right knowledge and building a simple robust forex trading strategy you understand and can apply with discipline.

4. Discipline and Money Management

Are the keys to earning big profits in forex trading.

Forex offers you the ability to leverage your investment dramatically and while this creates opportunity, it also creates risk. You must play great defence first like all good football teams look after the defence and the offence will create and take opportunities.

The forex market is no place for people who want to be right all the time - it's not possible.

The market price is always right and only you can be wrong and you will be wrong a lot of the time but that wont stop you making a lot of money - just learn to keep your losses small and accept them cheerfully. Don't worry the big profits will come.

Sounds simple yes in theory but don't be deceived its still a challenge and this is obvious from the fact most traders lose but if you work smart and have the will to win forex trading offers you the road to financial freedom and its up to you to take it.

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Forex Robots - Doubling Stocks vs Forex AutoPilot System

noreply@blogger.com (kendi35646) — Thu, 05 Feb 2009 03:04:00 +0000

It seems the flood of forex robots being released currently is never ending. Specifically if you are new to currency trading, it can be very difficult to decide which forex robot is going to deliver results. For this article we are going to look into Doubling Stocks and Forex AutoPilot System which have proven to be 2 of the better selling forex robot products.

The first thing to look at with any currency trading product is trust. There are a high amount of scams out there, and you need to be sure that you are purchasing a quality product. Doubling Stocks has been seen and reviewed on 'interactive investor', 'Business Week Online' and 'Entrepreneur.com'. Forex AutoPilot System has received a little more exposure and has been seen on 'NBC', 'CBS News', 'Business Week', 'Entrepreneur Startups' and 'Entrepreneur Young Millionaires'. Research is key and you want to make sure the proof and reputation is there before you purchase- although both products come with an unconditional 8 week money back guarantee.

In terms of functionality I have been testing both products out in tandem, and the results have been reasonably similar. Doubling Stocks was designed by a Goldman Sachs employee who realised the principles of gaining leverage from high amounts of forex sum's could be applied on a smaller scale. Forex AutoPilot System hinges on the Fibonacci Formula which is the most efficient way to predict when to enter and exit a trade for maximum profit and minimum risk.

The bottom line is either Doubling Stocks or Forex AutoPilot System will provide an automated method of currency trading. Personally I feel Doubling Stocks is better suited to users with experience in forex trading- whereas Forex AutoPilot System is ideal for users of all experience.

Conclusion

Whether you choose Doubling Stocks or Forex AutoPilot System it is important to realise that you need some capital to get the most out of these programs. Ideally $500-$1000US is a good starting point. You can however experiment with a demo account, to get the feel for the forex trading robots.

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Forex Trading News - Discover How to Use it For Bigger Profits

noreply@blogger.com (kendi35646) — Tue, 03 Feb 2009 02:04:00 +0000

We have better and faster news sources than ever, yet most traders fail to use the news correctly and end up losing. Here we will show you the right way to use it and how to make huge profits.

Here we will examine why you can't trade news by itself - but how you can use it to spot sentiment changes and great risk reward trades.

FACT: The News is unimportant by itself.

The news itself is not important in any financial market and that includes forex - it's how the participants as a group react to them which is important.

While all traders have the same facts to look at, they all draw different conclusions and their conclusions combined; all added up equal the price.

Markets Discount

Many traders make the mistake of trading news stories and opinions they see; what they fail to think about is - the news is instantly discounted and the market is looking forward to the future and in addition, the news reflects the greed and fear of the majority who lose.

Judging Sentiment

You can't follow news stories and trade them this is a recipe for disaster.

We know from history that markets collapse when they are most bullish and rally when they are most bullish.

Greed, Fear News and Profits

If you follow forex charts you can see the reality of price and you can also see price spikes, where the participants push prices to far away from fair value, due to greed and fear.

It is here the news is very useful.

You can see these spikes on a forex chart, they never last long and forex news can be very useful for taking a contrary trade and timing your trading signal.

Trading in a Contrary Fashion for Huge Gains

If you have news saying the market will never stop rising or falling chances, are you have climax of greed and fear. The herd will simply push prices to far from fair value.

You saw this in the recent dollar bottom as the bearish argument became totally discounted. If you believed the news, there were no problems in other countries (there were and are) oil was going to go to $200 a barrel (despite global demand falling) and the US economy would not see rate rises soon (despite the fact they indicated they would). If you sat back and looked at these facts, you would see that dollar selling was overdone - what happened next?

The dollar made a huge rally.

If you used your forex charts you would have seen the spike climax, then a collapse and made several thousand pips profit.

Will Rodgers once said, "I only believe what I read in the paper"

He was joking but traders often take what the papers say as gospel and lose.

If it were easy to follow the news and trade in the direction it recommended, far more traders would win.

The way to use news is to judge sentiment and look closely at its impact if you can do that forex news can give you some fantastic trading opportunities and profits.

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Automatic Forex Trading System

noreply@blogger.com (kendi35646) — Tue, 27 Jan 2009 21:38:00 +0000

The search for an automatic forex trading system that works is often seen as the search for the so called "holy grail" which is the reason why many traders have lost huge sums of money and more are still loosing. When it comes to an automatic forex trading system, the search is likely to be long and arduous, and there is the question of why is everyone not using it?

In fact, I don't believe there can be an automatic forex trading system that can assure you of 100% successful trades as claimed by most because there is always the element of the forex market which is totally unpredictable.

It's not far fetched for a forex trader whose automatic forex trading system is based entirely technical analysis to come back the following day and encounter an unexpected reversal due to fundamental (socio-economic) news being announced lower or higher than expected resulting. So, if fundamental analysis can not be predicted, and as one author puts it "no one knows what's going to happen" in the forex market, how can an automatic forex trading system be possible?

The answer lies in the understanding that if you truly want to use an automatic forex trading system, you are going to have rules, such as not trading in the vicinity of news time where the market reaction can be unpredictable based on technical indicators due to the reaction of the market to the news such as the non-farm payroll data once per month.

Before using an automatic forex trading system then, the trader must know the online currency market fairly well. Must understand that nothing can replace basic education, no matter what system you use basic forex trading education will help you identify better with the system you choose to use. It is also important to have education and mentoring and at least training in some indicators and strategies to understand the reading of the market technically, as well as a sound understanding of the fundamental analysis aspects of the market.

Using automatic forex trading system with a stop loss is one way to ensure that even if your system is entering trades that agree with the technical analysis prior to news release, your stop loss is there to get you out if the news comes out on the other side and things move against you. But if you can altogether avoid using your system before important announcements I personally think it wise.

Conclusively, there are automatic forex trading systems that indeed can generate profitable trades for any trader but they are not without rules.

For more information an automatic forex trading system you can use visit: http://www.forexxautopilot.info

Karen Fairham is an individual forex trader and shares her forex knowledge through her blog http://www.forexxtrader.blogspot.com

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Forex Trading Platforms Can Set You Up For a Fall

noreply@blogger.com (kendi35646) — Mon, 26 Jan 2009 21:38:00 +0000

Forex trading Platforms are not lacking in number, but deciding what kind of platform to use could be the thin line between success and failure. You have a choice of going with a web based trading platform and a desktop based trading platform.

In this article we will look at both of these forex trading platforms offered by online brokers and some of the factors that you must consider before deciding on what best suits your trading needs.

Desktop based forex trading platforms: Just as it is called with this kind of trading platform, data is stored onto your hard drive and can only be accessed from the same exact PC that has been installed on. Restriction is a major issue with this type of platform because you are restricted to trading on the same Pc and for if any reason you can get your PC to work you might get into serious trouble. The issue of security is another factor to consider because if your computer is infected then there is a chance of your account details being hijacked.

Web based forex trading platform: This is the sort of platform that can be accessed from any computer with an internet connection, and this is often spoken highly of because of the following reasons:

It is more secure because the security issues are more the responsibility of the provider, and many decent providers use secure encrypted connections that keeps your data safe.

The ease of access is another factor because as a trader what you want is to be able to log into your account from any system and quickly enter or exit a trade without having to wait till you are on your own PC.

Karen Fairham is an individual forex and futures trader who shares her trading knowledge, strategies and suggestions via her blog http://www.forexxtrader.blogspot.com

For more information on a forex system/strategy that can help you survive the whiplash of the market and make consistent profit visit: http://www.forexxautopilot.info

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Forex Autopilot Results - They're In!

noreply@blogger.com (kendi35646) — Fri, 23 Jan 2009 00:29:00 +0000

Forex Autopilot results are in, and they`re good. When it comes to automatic Forex trading programs, then Forex Autopilot is the king of them all. It was the original automated trading robot to be made available to the general public. But can these automatic systems perform as well as humans? Let`s take a look inside the robots that are making our trading lives so much easier. Man, i wish i had this many years ago when i was losing BIG TIME on Forex!

Forex Autopilot is designed for people who have absolutely no idea on how to make money online, it allows novices to start trading in the ultra-lucrative world of Forex (are you excited yet?) Just a few years ago any novice wishing to get into this field would have to invest lots of cash and spend months learning the market. Not to mention having to hire an experienced trader to do the work for you. Not so anymore. Now you can invest as little as $50 and see a profit in a short time.

Here are the Forex Autopilot results: It is programmed to find trades that aren`t very lucrative but are however low or no risk. But, unlike a human, this program needs no rest and can be left on 6 days a week. This means that you can rake in more money in the long term, as opposed to sitting at your computer waiting for the right time to trade or not. I can think of better things to do than sitting around staring at numbers, can`t you?

You will spend only an hour or so reading the instructions and a few minutes setting up the program before you see Forex Autopilot results. You do not need any experience at all when it comes to trading currency, if you have the wish and skill then you WILL succeed with it and be very happy with your results as you begin your first trade and see positive results.

What are the Forex Autopilot results when it comes to cash made? Well, it depends on the market at the tie and how passionate you are in making it work. Let me show you my experiences with it from March 2008...

I started out by investing exactly $150 on March 12th. By the next week, March 20th, only 7 days, my cash was staring at me on my screen. The difference was that it read $300. By June it had turned into $2200, this from a beginning investment of only $150. I was amazed and have never looked back.

This amount of cash may not sound like much to some people, but when you consider how little i started out with, then it`s actually pretty good. The more you put in, the more you`ll get out. Rather start small and see how your money grows, then go big. I am still happy that i never actually did any work to reap this reward, except for occasionally checking my computer. No other investment will benefit your cash like this will.

I hope that these Forex Autopilot results will help you make an informed decision when it comes to jumping into Forex trading. For more information and reviews on the leading Forex auto trading programs simply visit http://www.forexautotradingreviews.com

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The Proper Way of Trading Forex

noreply@blogger.com (kendi35646) — Thu, 15 Jan 2009 02:55:00 +0000

I wanted to share with you the proper way of trading forex. You just don't want run into the market and make trades like a gambler. This is a serious business that requires a certain degree of proper behavior. You need to be smart and you need to restrain yourself. I hope to share with you what you need to do.

There are two types of people that watch the news: News Hawks and passer byers. What I'm going to say will be picked up by News Hawks, who end up watching news all the time. Passer byers rarely ever watch it, so they've missed out on this point. Financial and business news is rarely ever "BREAKING". All of it is predetermined and announced at a scheduled time.

If you're not already are, financial and business news will end up affecting currencies. Depending on the type of news it could go up or down. Typically if it is good for the economy, it is good for currency. If it is bad for the economy, it is bad for currency.

If the Federal Reserve is about to announce interest rate cuts at 10am, you'll notice the market is very quiet before than and at 10am, the market will go erratic. Imagine that you made a trade at 9am, having no idea what was going to happen. You would be making a smart move at 9am, but at 10am the market would of completely changed.

The point I'm trying to get across is that the news has great information on it and it's all scheduled for you. There should be absolutely no reason why you shouldn't know of a big announcement that will greatly effect the market. If you watch the news, you'll always be ahead.

If you're using autopilot software like Forex Funnel, it is very important to be watching the news for these announcements. Automated software doesn't work that well with erratic behavior. Forex Funnel is the best autopilot software on the market and if you use it correctly, you can make a good profit.

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Forex Trading - Advanced Forecasting Methods For Profit

noreply@blogger.com (kendi35646) — Sun, 11 Jan 2009 12:04:00 +0000

Today we have advanced forecasting methods at our disposal as the power of computers has increased, they can do more in less time than ever before and the computer that sits on your desk top, is far more powerful than the one that helped land man on the moon. So let's look at advanced forecasting methods in more detail...

Before we start lets quote a simple fact which may make you think.

Despite all the advances we have seen in technology over the last 20 years the ratio of winners to losers still remains the same - well over 90% lose and 10% win and make the big profits. So all these advances in technology and forecasting have done nothing in terms of increasing the ratio of winners and the reason is obvious!

Scientific methods CANNOT help when you are trading an odds based area like forex.

There is no scientific movement of prices and that's obvious, because humans are emotional beings.

You will hear many people who say there is but if there was, we would all know the price beforehand and there would be no market.

I see lots of clever systems based on neural networks, chaos theory and artificial intelligence but most are junk and fail. Not because they are not clever but because scientific theories don't work on a market that doesn't move to a scientific formula!

If You Want to Win Understand This!

Simple systems work best as they are more robust than complicated ones, with fewer elements to break and are ideal forex trading an odds based market such as forex.

This has been the case since trading began and all the computer geeks and mathematicians who try and beat the market learn a lesson as the market beats up and destroys their equity.

The markets don't reward you for being clever or having a complicated trading system, you get rewarded for being right with your trading signal - nothing more.

I always find it highly amusing when I see the sales copy for many systems and how they proudly say the developer is a mathematician, or wiz kid at physics - big deal. It proves nothing and these people tend to be the worst traders as they think being clever gives them a right to win and it doesn't.

In forex trading all you need is a simple system, the confidence and discipline to follow it and you will probably beat any of the systems with fancy names, which are applied in the brutal world of forex trading and fail.

So forget advanced forecasting, stick with simple forecasting and you will find you will probably make a lot more money.

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Currency Trading Education Tips

noreply@blogger.com (kendi35646) — Sun, 11 Jan 2009 12:04:00 +0000

I wanted to take the time to share with you some of my currency trading education tips. This will help you learn the important parts of this business a lot better. Knowing the basics just isn't good enough. It's often the little things that make up the trader and make them a good trader. Too many people end up losing a fortune of money because they're just not prepared for the little things. I've been trading a long time now and I learned a lot about what it takes to be successful at this. I'm going to share a little of what I've learned during that time.

Everything you'll learn in a typical currency trading education course or book is for an ideal state. The "perfect" scenario. It doesn't exist and that makes a lot of the training completely idealistic. Most things will work on a regular calm day. I think an important skill to get down is identifying with things will get chaotic and volatile. I found the regular news was good enough for that. If you watch it, they'll talk about economic information, which is typically announced at a scheduled time. If there is an announcement coming up about the Federal Reserve interest rates at 2pm, that means the markets will be quiet up until that point and at 2pm it will go volatile. You'll want to avoid these times.

Having software is an important part of properly competing in this market. You're going to be going up against big firms and banks that have a staff to work the market 24hrs a day. You on the other hand are an individual. By having software it can automatically watch the market and make profitable trades at all hours of the day.

The 10 Minute Forex Wealth Builder is an excellent automated software tool that is unique because it only requires 10 minutes of your time to set it up for the day.

Learn more at the 10 Minute Forex Wealth Builder Review.

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noreply@blogger.com (kendi35646) — Mon, 01 Dec 2008 22:03:00 +0000

How to trade with pivot point:

Pivot point in my own opinion represent the best and most reliable way to trade this market as it is only when price gets or come close to a pivot line that all professional traders in the world will be looking to take action. In my own opinion pivot point is the best trading style or strategy to trade the foreign exchange market profitably.

So the question of all questions is when to buy and when to sell. My answer is when you see price break through a pivot point going up for example only at that point should you wait for price to go back to the broken pivot point that was recently penetrated. Plus of course the secondary inputs of the other indicators to clarify and support your decision that you were right. Then if the other indicators confirm an upward continuation as in this example, then you will seek to enter as close to the pivot point that was penetrated as possible. Then take your profit by targeting the next pivot point in your calculated points, or you can move your stop loss to the next point to take more profit in the trade as it continues in your favor.

Foreign exchange trading can be very profitable and may mark the end of your 9 to 5 job with little time to spend in front of your computer. This is because if one is to consider the size of the market it will give a well trained and tutored trader the opportunity to make a huge profit, not to talk of the leverage the market gives you. Learn all you can and demo trade, before going live and you will surely quit your 9 to 5 job.

Happy trading!

Discover trading strategy that I have tested and that is working for me and others too. Please do review them and use it on demo for at least two months before going live.
visit http://freeonlinetips4u.blogspot.com

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Forex Trading - How to Start Making Profits in Forex Trading

noreply@blogger.com (kendi35646) — Tue, 18 Nov 2008 12:42:00 +0000

Are you a greenhorn in the forex business and need some smart yet simple way to start earning decent profit? Or are you a pro who finds yourself suddenly having difficulty turning out some gains in the business? Well, worry no more. Here are a few good steps you can take your dilemma:

1) Use a system that has a proven track record. Otherwise, you're bound to fail. Now, how does one get to have such a proven system?

Locate them in many forums where they are offered for sale. Stay away from good-looking, highly-commercial websites where systems are sold by people who don't even have a hint about currency trading. Remember: use a proven system. Make sure the systems show solid proof and real profits. Some good proven systems are: Forex Tracer and Forex Funnel.

2) Don't use systems that promote trading within "fast" timeframes. These are known to give you problems because the market usually becomes random in timeframes less than 1 hour bars/candles. The daily bars represent the most stable timeframes where trends and trend reversals are much clearer.

Thinking about making it easy on yourself? Well, stop right there. Enless you land a good forex robot, the forex game can be hard work, but it can be very profitable. Its smart to do all your research before buying a robot.

3) Engage in small trading. Look for micro lots usually sized at $1000. Brokers don't advertise these micro lots. So, find them, write to them and ask them. I would strongly suggest you look into the forex robots.

Do you want the very best forex software? Well I have some good news for you, I bought and tested the top 7 forex software's and put a review of the top 2 on my website: ForexTradingReview.Info. I made over 900 dollars a day with one of the softwares listed on that site. Just Imagine if you purchase a couple of profitable softwares!

You have to be very careful when purchasing a software though. Some of the software's just sit around and never make you any money. If you want to make thousands every week with forex I suggest you take a look at the website: Forex Trading Review

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Why Forex Trading With Stochastics is a Lot Tougher Than it Looks

noreply@blogger.com (kendi35646) — Thu, 13 Nov 2008 01:02:00 +0000

When people first learn about trading with stochastics, it seems so ridiculously simple. We're all taught that there are several ways you can trade stochastics. The most common methods that are taught are usually to buy when the lines cross above 20 or when the stochastic lines cross each other in an upward direction. You are supposed to sell whenever the lines drop below 80 or whenever the lines cross each other in a downward direction. Sure, there are other ways of trading stochastics, but those are the most common methods.

Doesn't it sound like a child could do this? You just trade whenever x happens. What most people usually do when they learn the rules of trading stochastics is that they immediately pull up a chart to back test the strategy. When backtesting the strategy, it looks like a home run. Almost everytime you see lines cross or go above or below 20 or 80 they look like winners, don't they? This is what is called false advertising. You don't have to take my word for it. You can trade the stochastics using these methods to see for yourself.

What you'll notice is that the lines cross and go above 20 or below 80 a bunch more times than you noticed in backtesting. That's the thing you don't see: All the times the lines crossed for a little while then reverted back as well as all the times the lines dipped below 80 or above 20 only to revert back. That's the problem with indicators like stochastics. They lag. They lag big time.

You have to think about this logically. 95% of forex traders fail at making money. If something as simple as trading with stochastics can make you successful, why do most people fail? Simply because stochastics are telling you absolutely nothing about market price and market movement. Do yourself a favor and just eliminate all the indicators on your chart. Try to see it the way the pros (those 5% of people that are making money) see it. They can look at something as simple a bar chart and be able read the energy of the market.

To get rid of those stochastics and finally start seeing the forex markets in a brand new light, make sure to check out my squidoo lens.

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Forex Trading - If You Can Get This Question Right Congratulations - You Can Win!

noreply@blogger.com (kendi35646) — Thu, 13 Nov 2008 01:01:00 +0000

Get this simple question right and you're on the road to currency trading success get it wrong (and most new traders do) and sorry you need to continue with your forex trading education...

Ok, here is your question answer it with no pause, no hesitation and with total conviction and confidence:

Q: I know what my trading edge is ( define it ) and it's why I am able to win, when the vast majority of forex traders get wiped out and it puts me in the elite 5%.
A: There is no set answer - but some forex traders have what they think is an edge and its not.

So here are some common answers that are totally wrong:

- I follow the news stories currencies move to the facts
- I have an expert or guru who advices me and trust him
- I will make money buying low and selling high
- I can predict forex prices in advance and use a scientific theory
- I have a robot sure it hasn't been traded and has a simulated track record but the logic is sound
- I trade short term scalping and day trading it's a great way to make money
- I have great money management and can place a stop

Etc

The above are based upon misconceptions of how to make money in forex and there all wrong.

Most traders look at forex trading and think it's a walk in the park and easy, the facts say otherwise.

5% of traders experience a quick wipe out and it's not easy, making the big money in any area of life is hard, that's why you get such big rewards.

If you want to win, the first point is no one can give you success, so stop trying to buy it. Only you can give yourself success, as success comes from within. Success is based upon, a simple, logical robust trading system, you have learned and you can apply with iron discipline.

Most traders never have the courage and discipline needed, because they don't learn from the ground up and gain confidence.

How can you take loss after loss (all forex trading strategies have them even the best) and keep going with discipline if you don't have confidence and accept responsibility?

The fact is forex trading to learn is within reach of everyone - but you must have learned the right way, to have courage, conviction and discipline. This means having an edge, you believe in and is soundly based and the ability to aplly it, even when your losing with discipline.

All the professional forex traders have an edge (it can be anything you like) but in your own head, it must separate you out from the vast majority who burn their equity.

If you don't know what your trading edge is - you don't have one!

Continue your forex trading education, until you get one and don't expect anyone to give you it - you have to work it out. If you can, though and you can apply it with discipline, you can be a winner.

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Forex Trading And Home Business

noreply@blogger.com (kendi35646) — Sun, 02 Nov 2008 22:11:00 +0000

Forex, ie foreign exchange market has become very popular due to
its immense size, liquidity, currencies moving in strong trends
plus, an easy online access, relatively low starting capital and
a big leverage.

All this is very attractive to many sorts of investors, speculators
and also amateur people, especially online success chasers who
imagine easy and fast profits. BUT it has its pitfalls and the Internet
hype sellers and scammers make the situation even more dangerous.

Forex has enormous profit potential but since there is a substantial
leverage involved working both ways, the same is the loss potential
- the higher the profits, the higher the risk involved. And that
is exactly the core of success in forex which is hidden from people
seeking fast online profits.

People lacking basic character streaks like discipline, risk
evaluation ability, experience and even basic information and
training fall prey to false promises and start trading their last
money on forex expecting quick riches.

It is necessary to be aware of the fact that trading currencies
is not easy. If it was, no one would lose money and everyone would
already be a millionaire. Many traders with years of experience
still incur periodic losses. Everyone interested in trading forex
must realize that trading takes time to master and there are
absolutely no shortcuts to this process.

Yes, of course, it is possible to make it a long-term, profitable
and sustainable source of high income and even a proper home
business BUT the following are the basic rules for success in
forex trading:

1. Discipline: it seems easy but the lack of discipline is the profit
killer no 1. It is important to set your own rules and goals
and stick to them. Do not panic if not everything goes the way
you imagine and strictly keep the rules. One of the basic
situations is losses: If you know you can lose only $1000,
the discipline will help you stop trading if it happens, and
not borrow and go on and on... Also, it is the discipline which
helps you avoid magic profit calculations.

2. Responsible risk-taking and risk-evaluation ability: forex
trading is an investment method not a casino. It is not
possible to invest properly if you are not able to take up a
calculated risk, if you are not able to calculate an
acceptable risk, and if you are not able to even recognize a
risk. The good news is that you can develop this ability.

3. Spare money: never trade your last money, always invest either
profit or a reasonable amount of money you can lose. Always
behave responsibly and never borrow money to trade.

4. Thorough education and training, incl practical training: it
is imperative that before you start trading live, you get
proper education and training, that you acquire working
knowledge and develop your own working system on which you can
build your investment strategies, routines and practice.

5. Never trade in a live-or-die situation or under any stress: many gurus say that you can make instant riches from forex
investing your last money. It is one of the biggest lies I
ever heard. Unless you feel absolutely comfortable, knowing
what you are doing and why, enjoying the trading, you cannot
trade successfully. Any stressed, unbalanced or anxious mind
and brain is not able to evaluate situations correctly, react
competently, and it is a paved road to failure and losses.

6. Always do your homework: another hype you can hear around
says that everyone can trade just following someone else's
advice and instructions. I can tell you only one word as an
answer: rubbish. You must realize that you must be able to
evaluate every situation, every trend, every forecast, create
all the analysis, follow necessary trends, incl, of course,
hearing specialized analysts BUT the decision and the money
is yours only, so the responsibility is yours. The better your
homework, the higher and more reliable your profits.

7. Learn from your mistakes and remain flexible: you must know
that you will make mistakes, you will even lose in some trades
but you must be a great trader and you must know it. When you
make a mistake you must analyze the situation, find out why it
happened and see to it that you will not repeat the same mistake
in the future. You must not despair and fall into depression.
You must stay positive and simply do better next time.

Plus a little closing note to only make you aware of these important
topics which, however, exceed the scope of this basic informational
article:

- yet another risk is here: it is vital to choose the right
market-maker, big enough to allow you to make full use of currency
moves. I stress a market-maker and not a broker,

and also,

- avoid managed accounts.

In case you are interested in mastering forex trading and start
with the above points seriously, you are on the right way to trading
success.

Irena Whitfield is the webmistress of http://www.thecassiopeia.com/ - Internet Business Consultant you need to make your online home business a real success. Without any hype, she will help you to get where you want to get. Get her new ebook Package 'Your Success Master Keys' , containing: 'Success Tips And Tricks' , '7 Stars of Online Success' and 'The Success Seeds: the Entrepreneurial Bible', and make your business profitable this year!

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Forex Trading Robots - 3 Reasons Most Destroy Your Equity Quickly

noreply@blogger.com (kendi35646) — Wed, 29 Oct 2008 08:27:00 +0000

There are numerous Forex trading robots for sale and they all promise big gains but the reality is 95% or more will wipe your equity out and do it quickly. There are very few that work but if you want to find one that does and enjoy currency trading success, read this article.

Reason 1

The Track Record Is Simulated

This applies to almost all the ones you see online. They all claim big gains but the reality is, the track record is a paper simulation and not real money at all.

Always check for the warning below on any forex trading system and if you see it - forget it.

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Anyone can make money in hindsight, knowing the closing prices but that's not the real world.

Personally, I am not too interested in paper money; I like cold, hard, crisp real dollars.

Reason 2

The Track Record Is To Short

I was amazed the other day to see someone presenting a month of trades as his track record - what does a month of gains prove in forex trading?

Nothing.

The time period is way to short.

If you are judging a track record, look over 2 - 3 years, so you have a variety of market conditions and can judge it properly.

Forex trading is a long term game and many of the best traders in the world, have drawdowns of weeks or even months before recovering.

In terms of track record its - the longer the better.

Reason 3

Confidence Issues

It sounds easy to simply plug a forex robot in and trade it however its anything but, as you have to be disciplined and keep applying the trading signals, even when the system losses.

Many traders have good systems, but simply cannot apply them, because they don't have confidence in the system.

To obtain confidence, you can't follow a system blindly!

You need know how and why it works, so that you can follow it with discipline.

Don't buy systems where the rules are not revealed ( "black box systems") and make sure you know why the system will make you money longer term.

Big profits in Less than 30 Minutes a Day!

If you follow the above tips when choosing a forex trading robot, you can find one you can have confidence in and gives you the opportunity to make big forex gains.

Take your time and make sure, you find one that is proven and you have confidence in, you're then all set to make great profits in less than 30 minutes a day.

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Trading Forex - Best Currencies to Trade

noreply@blogger.com (kendi35646) — Tue, 28 Oct 2008 03:04:00 +0000

The explosion of over the counter Forex trading led to increased competition on part of brokers. Over last few years trade execution has become much better, spreads went down and trading platforms have seen dramatic improvement in performance and functionality. Another area of brokers services that witnessed huge changes is the number of currency pairs available for trading.

As recently as 5 years years ago there were platform offering only 4 major pairs for trading, all of them US dollar denominated - EUR/USD, USD/JPY, GBP/USD and USD/CHF. Not much choice there. Vast majority of brokers would provide 8 to 12 currency pairs. That was the staple. Only very select group could boast availability of 20 or more crosses.

Those times seem like ancient history. These days broker which offers 20 or so currencies is, well, services deficient. New norm seems to be availability of 50 + pairs on a trading platform, while few leaders provide over 70 or even close to 1000 currency based financial products. If swaps and options are included, this number can easily breach 300. Quite a difference over just few short years.

Does it mean that all these instruments are suitable for an average trader? The answer is resounding "NO". Some currency pairs are better than others, especially for beginning and less experienced traders. Some should be all out avoided or left for true professionals. That said, which are the best currency pairs to trade?

Trading instrument, should be liquid, have low cost of trading and have enough volatility to present profit opportunities as often as possible. Volatility, of course, is a double edged sword and can be detrimental, as well as desirable. Most of USD and, these days, EUR crosses fit into this mold.

Beginners should generally concentrate on the old stand byes, the 4 majors. EUR/USD and USD/CHF should the the first to consider. Both are very liquid, have low spreads (minimal trading costs) and move quite a bit. Incidentally, under current market conditions, USD/CHF is less volatile, and probably better for new comers, while still providing very good opportunities.

If you prefer fasting moving currency, GBP/USD is for you. The "cable" can move with surprising speed, but that works both ways- losses can be just as swift. Last one of the 4 majors is USD/JPY. Despite its much vaunted status, it is also a currency most susceptible to political influence. That can lead to more unpredictable behavior than the before mention pairs, but it has extremely low spreads and huge volume.

At present some of EUR denominated pairs are just as liquid as USD crosses. Most notable are EUR/CHF, EUR/JPY and GBP/USD. All of them are among the very best currencies to trade. EUR/CHF, for example, is far from being the boring instrument of years past. Daily trading ranges are very similar to USD/CHF, spread is the same and , by some accounts, volume is even higher.

Rounding up the best currencies to trade is AUD/USD. This pair has also experienced tightening spread, increased volume and widening daily trading range. On the contrary, the remaining dollars, USD/CAD and NZD/USD, should probably be left alone by less experienced traders. One of their less desirable characteristic is significant luck of liquidity pool at certain times of the day.

While it is good to have wide range of choices when it comes to trading options, it is not necessary, or even possible, to master all of them. There is nothing wrong with trading only the most popular currencies. They are most accessible and most information is available about them. Some of the best traders around specialize in only or two of these pairs. So can you.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com Spectrum Forex LLC offers numerous services to individual traders. You can also follow his trading blog at http://www.fxmadness.com With questions and comments e-mail him at kulej@spectrumforex.com

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Forex Trading - Does Woodie's CCI Really Work?

noreply@blogger.com (kendi35646) — Tue, 21 Oct 2008 11:52:00 +0000

You know about Woodie. You know about his methods of trading markets with the CCI indicator. Is Woodie just and old man, rambling? Or does his methods really work?

Well, let's examine this and see . . .

First, let me say that there is one thing (if nothing else), that is really attractive about the whole Woodie's CCI method. That is the simplicity.

There isn't a lot to watch. Just look at one indicator. Watch it for setups and patterns to develop. It's simple

I mean Woodie even goes so far as to say that you don't need price on the chart. All you need to be watching is the CCI. Kind of crazy sounding.

Woodie says some other things that are crazy. One of them is that the CCI is a leading indicator. That's saying the same thing as saying that a mathematical formula knows the future.

The future (at least from our linear human perspective) is dynamic. Our human mathmatics has the same perspective we have, therefore, it cannot predict the future. So, there is no such thing as a leading indicator.

So then, does Woodie's CCI methods work?

Well, you need to understand that he developed them for futures trading. They weren't developed with forex trading in mind.

You can use Woodie's CCI patterns with forex, but don't get rid of the chart. Watch it. And watch the indicator.

Also, there are only one or two patterns that seem to work well in forex. Watch the Zero-Line Reject. Also keep an eye on the Ghost. (that's Woodie's personal favorite pattern)

Click here for more information.

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Forex Trading Strategies For the Intelligent Trader

noreply@blogger.com (kendi35646) — Sun, 19 Oct 2008 10:01:00 +0000

In any business, a good plan or strategy will be needed if you want to be successful in such endeavors. If you are a forex trader, knowing strategies that you can use in your trade will help you immensely to bolster you profit from trading. Here are some forex trading strategies that are often times used by traders. You can learn from them.

Scalping is a strategy used by traders who would like to see sure fire profits at minimal risk. Although this method will make traders earn very little profit, they can be able to have an accumulation of profits after a week of trading.

The downside to this, however, is the fact that you will have to spend a long time in your trading console to monitor movements of currency pairs. This will put a strain to yourself especially if you have more important things to attend to. This is good for those people who do not have jobs and depend on the trade for their day to day needs.

Another strategy that you can use in the many kinds of forex trading strategies will be to determine or analyze first the position you will have to take on a particular currency pairs and once you have decided, you can then put a buy or sell stop order to your trade and you can do other things besides monitoring the price movements in your console. If a price breaks develops due to market consolidation, you will either gain or loss depending on the up or down movement of your currency pairs.

For many who are more successful in the forex market with the use of different forex trading strategies, they would be one in saying that to make money in the forex market; you have to go with the trend. You can use trending to your advantage by using the pivotal points and surfing the market to analyze or spot trends on a particular currency pairs that you have. If you know how to spot a trend you can then have either a long or short position on a currency pairs depending on your perception of the trend you have spotted.

A good strategy to be profitable in the forex market is by using a three day rolling pivots. Using this strategy will make you on the more profitable side of the market. This strategy is simple to follow since this is a basic way of getting some profits from the trading market.

Setting up your three day central pivot points should have to be inclusive of a pivot calculator. There will be three sets of central pivot points after everything has been fully established. Consider these three sets of numbers that you have established as a range, with the largest number being positioned at the top and the second and the third downward

What you have to do next is put it in your mind that when you trade on top of the high point of this three day range, you will have a better chance of succeeding when you go for a short position. And when you trade under the smaller number of the range your chances of succeeding will be much better if you go for a long position.

Peter Flemming is a professional Forex Trader and is a staff writer for TradingProfits.org a website about learning forex trading and trading education. Download a copy of our free forex ebook today!

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Currency Market Trading

noreply@blogger.com (kendi35646) — Thu, 16 Oct 2008 10:01:00 +0000

Currency market trading is quite an old business for people to participate in, but has become quite popular in recent years due to the internet. This market, only a decade ago, was dominated by large banks and firms. Today, individuals from the comfort of their own home can participate and make good profits in this market with very little to start up with. This isn't a place to get rich quick. I've seen plenty of people lose a fortune worth of money because they assumed it would be easy. I'm going to share some things I've learned over the years that have really helped me out in this market.

If you're new to this market, you were probably told that it is a 24hr a day market. This is pretty exciting for a lot of people because it opens the door to trading anytime they really want. The problem is that there are times that are more profitable than others. If you look at high volume times (typical during business hours), there is a lot of trading going on, but this causes a very stable equilibrium of price. If you look at low volume times (late in the evening), there is very little trading going on, which causes a weak equilibrium of the price. Any odd trade could cause massive shifts in the price.

That is why it is important to have automated software. Sometimes trades can't trade during regular business hours. I know when I started out, I had a regular job, which was during business hours. I picked up some automation software that would make profitable trades on its own while I was at work. It was great to come home to a trading account with extra money in it.

The 10 Minute Forex Wealth Builder is an excellent automated software tool for trading. It is ideal for the people out there that still have a regular day job.

Check out the 10 Minute Forex Wealth Builder Review.

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Money Management PIP Calculator

noreply@blogger.com (kendi35646) — Tue, 14 Oct 2008 11:28:00 +0000

There are a lot of Systems out there and they all have there moments. Most of the information you read from the creator of that system show fantastic results and making huge amounts with very little money in the account. Sound familiar. What they are not telling you is that they are showing you the worst way to trade, OVER LEVERAGING YOUR ACCOUNT. This is why we developed the PIP Calculator. This will give you guidelines to follow when trading.

Most beginning traders believe that a good entry into the market is the key to success.
Unfortunately most are very wrong. Money Management is by far the most important criteria of
trading, Every successful trader will agree that managing your trades correctly is the most crucial element to consistently increasing your bottom line. Not to mention managing your money correctly, by limiting your risk to 2% to 10% of your account balance, at any given moment, in open positions, which will reflect your lots or trade positions.

Losing a trade or several trades in a row is just part of trading, get use to it. Unfortunately, markets move in unpredictable ways at times and even the best programs, even the ones I have reviewed, are not always right. In fact, most professional money managers trade with systems that are right only 50% of the time. How can they make the huge returns they claim if they are only profitable 50% of the time? Money Management!

If you're able to effectively manage your money you only need to be right about 50% of the time. The unfortunate thing about 95% of the current traders is that there primary focus tends to always be on making money and not protecting their account balance or profits. This is where the Money Management PIP Calculator helps with this problem.

Let's assume for each $1000 we use to control a position that we are only willing to loose $100.00. Now we will also assume that for every trade you enter you expect to make at least twice what you're willing to loose. In the event your position goes your way, you would set a limit order for $200.00 and we will assume you have made a totaL of 10 trades, 5 winners and 5 losers. 5 Losses would be -$500 and 5 wins would be $1000. You have just increased your account by $500 and you are only right half the time.
The 7 Rules of good Money Management.

DO NOT ENTER ANY TRADE WITHOUT A STOP LOSS.
Always trade with a Risk Reward Ratio of 1 1/2 to 1 or better on every trade
Never over leverage your account. True. Over risking will leave you with nothing for the next trade.
Make realistic goals that can be achieved within reason. Take what the market gives you.
Losses are part of Trading. move on to the next trade, and trust your system
Take profits off the table in every trade.
Only trade with money you can afford to loose. This will help your emotions in trading.

PIP Calculator comes with mouse over information to give you guide lines on how much to enter on a trade with most Currency pairs. It is set to work with all currency pairs. Click Money Management PIP Calculator for the calculator.

Marvin Evans HBSFI. Inc

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