Forex Education ? Getting the Right Education for Success Part 1

October 25, 2011 by  
Filed under Latest News

Forex Education ? Getting the Right Education for Success Part 1

Consider this fact:

Despite the vast amount of FOREX education available, the bulk of traders still lose.

The reason for this is most of the accepted wisdom does not work.

Here we will look at the FOREX education you need and a simple system that’s FREE That can make you big consistent profits.

Before we start looking at FOREX education itself, lets look at the equations you need to be successful trading FOREX.

Equation for success 1

Robust Method + Confidence + Discipline = Long term currency success.

Now, when you trade you need a method that’s simple and you understand.

Why?

Because if you want to make money trading you are going to have short term losses and you need to the discipline to follow your method when these occur.

If you don’t you will not have a method at all.

Many traders FOREX Education involves following systems they don’t understand or gurus and they simply can’t stick with them and fail.

Equation for success 2

Your method needs to have the following characteristics:

Liquidate losers quickly + Run Profits

Obvious one, but today people receive FOREX education that teaches them to trade short term and even worse day trade.

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We have written about this in our other articles and it’s a waste of time. You won’t win, it will just be expensive FOREX education!

Why?

Because, the time frame is to short and moves are random.

You may have profits but you can’t run them in a day and they can never cover your inevitable losses and high transaction costs you accumulate.

Avoid FOREX Education that teaches you short term trading unless you like losing your money

The Education You Need

Most of the education is free and on the net.

FOREX Education you don’t need

There are of course many e-books and courses but most of these are worthless ( only buy one which has a real track record and the seller is a trader ) and there are few of these around.

In part 2 of this article we will cover a system you can learn yourself that is used by many of the worlds top traders and it’s simple to apply and understand.

Learn this fact

There is no correlation between how complicated a method and how successful it is.

In fact, the opposite is true, the more complicated a system is the more likely it is to break in the face of ever changing brutal market conditions.

Finally, as we have said you need to understand how your method works (this is easier with a simple system) as you need confidence to follow it with iron discipline to eventual currency trading success.

Reading

The only material we recommend you buy is classic works by traders who have been at the sharp end and here are some good ones

Market Wizards & The New Market Wizards – Jack schwager

Great books!

Full of inspiration, as the top traders in the world share their wisdom on how they made millions or even billions trading FOREX and other markets

Anything By Jake Bernstein

Focuses on the importance of discipline and mental attitude a key to success.

Trader Vic – Vic Sperandeo

Perhaps my favourite book of all. Packed with common sense from cover to cover from one of the true great traders.

They will cost you about .00 and that’s money well spent for the type of FOREX Education they give.

A system for profit

In part 2 of this article your FOREX education will continue, when we start looking at a specific method that you can apply for bigger FOREX profits and currency trading success.

MORE FREE TRADING INFO ARTICLES PDF’S & COURSES


On all aspects of becoming a profitable trader including info about legendary trader W D Gann who made a million fortune trading go to our website for an exclusive Gann Trading Course visit our website at http://www.net-planet.org/index.html


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Forex Automatic Trading - Are Forex Robot Traders Right For You?

June 9, 2011 by  
Filed under Latest News

Forex Automatic Trading - Are Forex Robot Traders Right For You?

If you’ve been considering getting into Forex trading for some time now, then it’s very likely that you would have head about Forex automatic trading with Forex robot traders. Forex robot traders are programs that plug into a trading platform such as Metatrader 4 and trade automatically for you.

Forex automatic trading has significant advantages for new and experienced traders alike, but what most people aren’t told is that Forex robot traders are not right for everyone. By the end of this article, you will know whether Forex automatic trading is right for you.

Forex robot traders, or Forex expert advisors as they are commonly known, are software programs that have been designed with a preset trading strategy to profit from the Forex markets in a systematic way. There are primarily two kinds of Forex robot traders: fully automated Forex expert advisors and partially automated Forex advisors. The difference between the two is that the fully automated Forex robot trader will automatically identify the trading opportunity and enter the order into the broker without any input from the user, while partially automated Forex expert advisors require the user to make a final decision of whether to take the trade or not.

Forex automatic trading can be a powerful tool for you, regardless of whether you are a new and experienced traders, because it removes the need for you to be physically present at all times to make trading decisions. Your fully automatic Forex trading system can thus be switched on and making profitable trades for you while you work, eat, play and even while you sleep!

Another significant advantage of Forex automatic trading is that it allows you to earn while you learn. The fact is, it takes new traders three to five years to get to a skill level that allows them to make consistent profits from Forex trading. With an automatic Forex trading system, you can leverage on the experience of another trader who has gone through that difficult learning process without doing most of the hard work yourself, just by paying a small license fee to use that profitable Forex robot trader.

Before you rush out and buy a Forex robot trader, you should know that Forex expert advisors are not right for everyone. If you are someone who is highly analytical and enjoys the mental challenge of picking up the skill of manual Forex trading, then Forex automatic trading will only serve to frustrate you. If you are someone that needs to know what’s going on ‘inside the hood’ and understand exactly why your automatic Forex trading system is making each and every trade, then Forex expert advisors will not be a good fit for you as well. That’s because most Forex expert advisors lock down their programming code to prevent other unscrupulous developers from stealing their system.

That said, if you’re happy to let go of the steering wheel and allow an automatic Forex trading system to call the shots for you while you focus your attentions elsewhere, then Forex robot traders are the perfect fit for you. For a minimal investment, you can purchase a Forex robot trader and begin profiting from the lucrative Forex markets right away.

So is Forex automatic trading right for you? Take some time to consider what you want to get out of Forex, and you’ll be equipped to make the right decisions about your financial future today!

 

Thad B. is a Professional Trading Systems Developer who has developed and managed dozens of profitable trading systems over the years for a private hedge fund. Forex trading systems are his passion and expertise, and he has a wealth of helpful resources available for any serious Forex systems trader.

 

For an in depth guide on how to choose the best Forex Robot Trader to meet your financial goals, get his free report: The Truth About Forex Trading Systems. In it you’ll discover how to make safe, consistent Forex profits… Even if you’re completely new to trading!

 


Article from articlesbase.com

Trading Strategies Interview by Stuart McPhee with Nial Fuller
Video Rating: 4 / 5

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Picking the right Forex broker for you

March 16, 2011 by  
Filed under Forex for Beginners

Playing the Forex market is something which more and more people are doing today, yet for those of us who have not yet begun our adventure in the Forex world, it can be a somewhat cloudy topic. Beginning to invest in the foreign exchange market is not something that just happens. That is to say that you cannot just walk into an office and buy some money in a foreign currency and become a Forex trader by doing so. It requires a process to be put into action, and the first step towards this is to choose a Forex broker.

Picking the right broker is not something that can be done without a good deal of prior research, as the quality and practices of brokers differ greatly from those who work with large banks (and therefore themselves have greater borrowing power and leverage) to those which are more independent but may suit a prospective trader with specific needs. It is advisable to join an online forum and discuss your own aims with the forum users. Getting a consensus for which type of Forex broker will serve your needs will narrow your possible choice to a point where you can make your own decision.

Once you have chosen a broker, you will need to open an account. Opening a Forex account involves proving your competence to deal with large sums of money – you will be playing with borrowed money if you get seriously involved, and brokers are not likely to lend to just anyone. It is also advisable to play with a virtual, paper-based account initially, until you are fully confident of your abilities to make a real profit.

to see a right forex broker for beginners