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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Success On Forex Trading | Important Secrets Revealed for Success on Forex Trading

October 11, 2011 by  
Filed under Latest News


by Tradingrichmom

Success On Forex Trading | Important Secrets Revealed for Success on Forex Trading

To happen to involved in the wonderful and on occasion addictive humankind of Forex, you will need to maintain a strategy in place to succeed.

There are many Forex Trading Strategies with the aim of will help you to motivation send on in the game, it is immediately a carry some weight of going away barred near and pronouncement single with the aim of workings in place of you.

To arise with, look in place of websites with the aim of are uniquely designed to assist you with the practice of Forex Trading Online, it is wise to read our books and to consult with Forex experts not far off from various forex trading strategies with the aim of might help you understand the Forex trading organization a crumb better. Subscribe to as many forex newsletters, as well it’s stress-free to unearth online forums with the aim of will help and you can take part in seminars someplace highly knowledgeable Forex Mentors will explain the in one piece organization and various strategies in order. You’ll need to practice selected of the forex trading strategies with a tape tally.

Follow and understand the on a Daily Basis Forex News and Analysis of the licensed currency analysts. Develop your catch-eye consider of the currency markets and the news with the aim of affects the prices. Pardon? The type technical ‘support’ and ‘resistance’ levels are in the currency team up with the aim of you hunger to trade.

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Support is a predicted level to good buy (where currency team up ought to move up on the charts), resistance of a currency is a predicted level to retail (where the currency team up ought to move down on the charts). Mark down on a bit of paper pardon? Direction the analysts are aphorism not far off from the major currency team up you are following and the type support and resistance levels in place of the daylight hours.

Probably single of the nearly everyone of great consequence factors in forex trading strategies is to understand the forex charts in order to achieve in turn not far off from some trends. Once you understand the way trends are poignant and changing, and you are able to recognize and predict the patterns inside these charts, you are well on your way to arise trading live tally with achievement on the Forex.

Some Forex strategies are very technical and require practice (demo account) and understanding to begin with. Do not think with the aim of the forex is a way to contract rich quickly. Initially, quick riches may well not be promising as the replace rate fluctuations will be slight, and it will take schedule in place of you to contract the hang of it and kind profits. You cannot win all of the schedule. By using selected of ForexGuest trading strategies you will win more often than not.

Learn how to wear out the technical indicators and every time trade with bring to a halt losses! Even in the tape accounts - contract the routine to wear out the “stop losses” ,collection your bring to a halt losses accordingly depending on your venture wealth, and your strategy or the single you hunger to test.

When you are trading Forex, be disciplined and to stick to a diagram. We Don’t trade the forex by our “feelings”.

Discover how to wear out the technical indicators on the charts, Choose an online forex safe, Pay attention to folks who are offering the traders Low Spreads which will save your money.

Most firms offer 4-5 stone spreads in the most important Currency pairs. Clothed in Forex Trading the ‘spread’ is the difference sandwiched between the good buy and retail charge of some certain currency team up. Remember with the aim of You need a safe with the aim of gives you access to the superlative charting and technical analysis to be had to keen traders, and even allows traders to trade precisely on the charts!

One of the forex trading strategies with the aim of you can start with is to discover which markets or trends to target. After learning a little crumb more not far off from the forex, you ought to be able to go for a marketplace or trend with the aim of is more likely to be profitable. Be present watchful not to locate all of your cash into single trend though, Rather locate minor, more plausible amounts of money into diverse trends so with the aim of you maintain a better ability of by the side of smallest amount selected of your money profiting.

If you maintain some doubts by the side of all not far off from the forex trading strategies and trading on a particular trend after that snoop to your instincts. You ought to feel 100 percent comfortable with everything with the aim of you are trading on and not maintain some hesitations by the side of all. If you don’t feel comfortable, after that kind really you discover as much as you can by you arise trading.

Information is the basic to all profitable trades, and the more you know the senior your earning would-be.

To Your Success

I am a fun loving guy that loves life and truly believes in sharing everything that i learn in this exciting industry known as internet marketing, Online Forex Trading.

Follow Me :

http://businessnewsinfo.blogspot.com


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Become a Forex Trader - How to Achieve Forex Success

October 11, 2011 by  
Filed under Featured

Become a Forex Trader - How to Achieve Forex Success

If you want to become a Forex trader and enjoy success you can, as everything about successful trading can be learned. While you can learn to be successful at Forex trading 95% of traders lose, so lets look at the mistakes they make and how to get on the road to Forex trading success.

The first point to keep firmly in mind is that you need to learn skills to win and most new traders don’t do this! They simply buy a cheap Forex Robot or Expert Advisor and think there going to win with no effort and they lose. These cheap software packages all see traders lose and if Forex trading success could really be achieved without effort, 95% of traders wouldn’t lose their money.

You have to learn skills and get confidence in what your doing, just like you do in any other profession and Forex trading is no different. The good news is you only need a simple strategy - simple strategies work best, because they are more robust than complex ones with fewer elements to break. You can learn a simple system which is soundly based and can make profits in just a couple of weeks. A great methodology to use is breakout trading; we don’t have time to discuss it in detail here so look up our other articles for full details of this simple, profitable strategy.

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The key point to keep in mind, if you want to become a successful Forex trader from home is that learning a Forex trading strategy which can make money is easy, the real key to success is to learn to apply it with discipline. Most traders don’t fail because they can’t learn a method but because they lack the discipline to apply it.

The reason they don’t have discipline is down to they cannot adopt the right mindset.

So why do they fail to get the wrong mindset?

The reason is they cannot accept losses and keep them small. In Forex trading, you need to accept you are going to lose for long periods, this doesn’t mean you can’t win long term you can but you must keep your losses small and run your profits to build wealth long term.

Most traders have an ego and when they lose, they start to get angry and frustrated, as the market gives them losses, its nothing personal yet, most traders instead of taking and keeping losses small, run them and hope they turn around, swap strategies or start to engage in revenge trading. This is their emotional side coming to the fore and as soon as it does and you don’t trade with discipline, you will lose.

Many successful traders lose 60 - 70% of their trades yet, still make huge profits long term, because they know there is nothing wrong with losing, so long as these losses are kept small, they can then run their winners and pile up huge gains.

If you want to become a Forex trader from home decide if you want to be right all the time or want to make profits, the market won’t allow you to do both, so choose the second option!

Learn a simple Forex trading strategy which will take you a couple of weeks or less and then focus on applying it with rigid discipline and you will soon be on the road to making great Forex profits in around 30 minutes a day or less.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf’s, with 50 of pages of essential Forex info and more on how to Become a Forex Trader visit our website at: http://www.forextrendfollowing.com


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Become a Forex Trader - 10 Keys to Forex Trading Success

October 9, 2011 by  
Filed under Latest News

Become a Forex Trader - 10 Keys to Forex Trading Success

If you want to become a Forex trader and make big profits you can. If you understand the points in this article you will be on the road to Forex trading success in a few weeks and making big profits in just 30 minutes a day.

Here are the essential points you need to lead you to Forex trading success.

1.Work Smart Not Hard
You can easily learn to trade Forex in a few weeks and you then, only need to spend 30 minutes a day trading. In Forex trading, you don’t get rewarded for effort, just how much money you make. You don’t need to be a geek or have a college education to win, you just need the right education.

2.Do Not Use Forex Robots

Never be taken in by cheap Forex robots and so called Expert Advisors, who say you can get rich with no effort. If everyone could get rich by spending a hundred dollars or so, the whole world would be trading and not working - avoid these systems or you will lose.

3.Use a Simple Trading System

Simple systems work better than complex ones, as they are more robust with fewer elements to break so keep your simple too.

4.Do Not Try and Predict Forex Prices in Advance

You cannot predict where prices will go so don’t try. Instead, simply trade the reality of price change as it occurs on a Forex chart and a great strategy to use, is one based on breakouts. We have written frequently on this timeless strategy and its a great way to trade for novice or pro traders.

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5.Understand Money Management is Essential

There are lots of different ways to make money but all successful trading strategies have one thing in common - they all have good money management. They cut loses quickly and your strategy must too. You are going to have losses, so deal with them correctly and keep them small.

6.Don’t Follow News Stories

Don’t pay attention to the news, in Forex trading 95% of traders lose and the news always reflects the crowd and you will always see markets collapse when the news is at its most bullish and rally when its most bearish. Instead of following the news, simply follow price action and use charts. The chartist doesn’t care why markets are moving, he just wants to make profits when they do.

7.Trade the Long Term trends

Don’t day trade or scalp the market for minor profits, because you will never make enough money to cover your inevitable losses. Trade the big longer term trends that last for weeks and you will make a lot more money and spend less time on your trading.

8.Trade with Discipline

If you can’t trade with discipline you will lose, because if you cant follow your trading plan with discipline you don;t have one. You must take losses and keep them small and have the courage to run profits which comes from a good education and keeping your emotions out of your trading.

9.Be Realistic

If you can make 50 - 100% per annum, you will make a lot of money over time. Don’t try and rush profits they will come, if your strategy is sound and you keep your losses under control.

10.Don’t try to hard or Chase Your tail

Many traders think the more effort they make, the more they will make in terms of profit and as we stated earlier this is simply not true. Also don;t chop and change systems or be impatient, many traders keep looking for the perfect system but there isn’t one - get a logical trading system and be patient

You can Win at Forex Trading

So there are your 10 tips for trading success, I hope you enjoy them and wish you good luck in your pursuit of Forex trading success.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf’s, with 50 of pages of essential Forex info and more on how to Forex Trading Success visit our website at: http://www.learncurrencytradingonline.com


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Traits of Successful Forex Traders That You Should Copy in Order to Find Your Own Forex Success

September 14, 2011 by  
Filed under Latest News


by FxShell

Traits of Successful Forex Traders That You Should Copy in Order to Find Your Own Forex Success

When dealing with Forex trading or other investments, you can never leave things to chance. It is vitally important to ensure you get your footing right and even more important than that, get your back covered. You need to have the right skills and the proper mindset to create success in this industry. This is the most important thing to realize if you desire to share the windfalls of successful Forex traders.

It takes time and hard work to make profits in Forex trading, and success would only belong to those who are willing to pay the price. Learning from the best in this field literally saves you years of hard work and the pain of going through the steep learning curve that all beginners face. Studying and mimicking successful Forex traders would help you prevent those costly mistakes that other new investors would have to go through normally.

Here are five of the most imports traits that successful Forex traders have which would help them make profitable trades and avoid the costly downfall of losing their investment in this volatile marketplace.

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Mindset

The most successful Forex traders possess a very strong conviction and a proper mindset to ensure higher chances of making trading decisions that ultimately lead to profits. It is important not lose your ground when things get rough and never make a decision when you are emotionally upset.

Perfection

Some Forex traders make the mistake of waiting for the “perfect” trade before they take action. This is a very risky move and over the long run it can cause some major losses if you fail to pull the trigger on a trade that would have made them money. There are no guarantees in the Forex market. All you can do is analyze the current trends against the past trends, decide intelligently how which way the currency should go, and then place your trade.

Follow the Rules

There are certain rules to profitable Forex trading that every savvy investor knows and follows. You should discover what these tested rules are and follow them diligently. The best way to discover these “secrets” is to find successful Forex traders and study them in depth. Do not be tempted to deviate from the known untested course if you are not looking to lose your money into this high risk venture.

Stay in Control

Never ever make the mistake of letting your broker deal with all of your investment decisions for you. You must take charge and ensure you make the right choices.

Beware of the Cycles

It is good to realize that Forex trading occurs in cycles and it is good to acknowledge these different trends. If you have had a particularly bad day, please do not turn it into a horrible experience or a painful memory that haunts you down the road. It is important to get a good grasp of yourself during times when you guess wrong on the direction of a certain currency trend. Re-evaluate your data and learn from your mistakes to ensure not to repeat the mistake in the future.

The biggest challenge is finding successful Forex traders. Once you have found one or two, most are happy to share their Forex knowledge and experience with you.

Want to learn more about the importance of finding and studying successful forex traders?

Visit my site right now at ForxDayTrader.com to grab 5 FREE videos that will teach you the basics of profitable forex trading.


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Success Trading The Foreign Exchange: How To Trade The Forex Market For Consistent Profits

August 18, 2011 by  
Filed under Latest News

Success Trading The Foreign Exchange: How To Trade The Forex Market For Consistent Profits

Those taking the leap into investing know that long term investing isn’t the only way to make money with securities. Currencies are quickly becoming the genre of choice for newcomers to the day trading business. Answering the question on any new investors mind regarding Foreign Exchange: How To Trade Emini Forex For Profit, is the key to success.

The craft of buying and selling securities within a very small window is considered day trading. Securities will be liquidated at the end of the exchange day and the trader will have an exact count of profits and loss. A margin account is utilized in day trading to maximize profits.

Foreign Exchange currencies are known as Forex. Contracts for differing amounts of currency from foreign countries are drafted and traded. This is one of the fasted growing sectors of security trading with individual traders due to a trend in brokers making promises of quick and easy earnings.

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Futures are regarded as securities that are bought on sold based on a future price. A buyer and seller of a security will negotiate on a future time, date, and price that a given security will be purchased. At the future time, the security changes hands for the agreed upon sum. This leaves opportunity for the specific security to either raise or lower in value which will earn or lose money for the buyer and purchaser.

The high cost of trading indexes and most currencies keeps the individual from being able to trade these securities. The Chicago Mercantile Exchange created the Emini Forex to solve this problem. The Emini is an affordable electronic currency future than is inexpensive enough for a individual to buy and sell. This has opened up a whole new world of investments and money making opportunities.

The practice of trading currencies is thought by many professional investors to be a bad idea for the individual investor. A popular belief is that brokers care more about their profits than that of their clients and tend to give losing advise to clients to further the brokers financial gain. Fortunately, Emini Forex has changed this perception simply because the risk to the investor is less and the rules of play are governed with better discretion.

Strategies and tips are passed around like Halloween candy by most investors. Seminars and speeches have sold out with tips and tricks to making a fortune in the stock market. These tips and tricks are usually only good at misinforming the new investor and putting money into the professionals pockets. Using a trusted website or source of software is a great way to combat the cloud of tricks and tips.

Endlessly scouring the internet, seeking the topic; Foreign Exchange: How To Trade Emini Forex For Profit will eventually lead the new investor to the single piece of software that brings it all together. Using the correct software will not only increase profits, but the enjoyment had by the craft of day trading. Many investors find the success in day trading very rewarding.

 

Ike Ojibe has been a strong passionate advocate and practitioner of investing by trading the futures markets. I rcommend that you get this powerful inside info on how to trade on the foreign exchange market for the ultimate profit now in our complete guide to all you need to know about foreign exchange markets


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Become a Forex Trader - How to Achieve Forex Success

July 20, 2011 by  
Filed under Latest News

Become a Forex Trader - How to Achieve Forex Success

If you want to become a Forex trader and enjoy success you can, as everything about successful trading can be learned. While you can learn to be successful at Forex trading 95% of traders lose, so lets look at the mistakes they make and how to get on the road to Forex trading success.

The first point to keep firmly in mind is that you need to learn skills to win and most new traders don’t do this! They simply buy a cheap Forex Robot or Expert Advisor and think there going to win with no effort and they lose. These cheap software packages all see traders lose and if Forex trading success could really be achieved without effort, 95% of traders wouldn’t lose their money.

You have to learn skills and get confidence in what your doing, just like you do in any other profession and Forex trading is no different. The good news is you only need a simple strategy - simple strategies work best, because they are more robust than complex ones with fewer elements to break. You can learn a simple system which is soundly based and can make profits in just a couple of weeks. A great methodology to use is breakout trading; we don’t have time to discuss it in detail here so look up our other articles for full details of this simple, profitable strategy.

The key point to keep in mind, if you want to become a successful Forex trader from home is that learning a Forex trading strategy which can make money is easy, the real key to success is to learn to apply it with discipline. Most traders don’t fail because they can’t learn a method but because they lack the discipline to apply it.

The reason they don’t have discipline is down to they cannot adopt the right mindset.

So why do they fail to get the wrong mindset?

The reason is they cannot accept losses and keep them small. In Forex trading, you need to accept you are going to lose for long periods, this doesn’t mean you can’t win long term you can but you must keep your losses small and run your profits to build wealth long term.

Most traders have an ego and when they lose, they start to get angry and frustrated, as the market gives them losses, its nothing personal yet, most traders instead of taking and keeping losses small, run them and hope they turn around, swap strategies or start to engage in revenge trading. This is their emotional side coming to the fore and as soon as it does and you don’t trade with discipline, you will lose.

Many successful traders lose 60 - 70% of their trades yet, still make huge profits long term, because they know there is nothing wrong with losing, so long as these losses are kept small, they can then run their winners and pile up huge gains.

If you want to become a Forex trader from home decide if you want to be right all the time or want to make profits, the market won’t allow you to do both, so choose the second option!

Learn a simple Forex trading strategy which will take you a couple of weeks or less and then focus on applying it with rigid discipline and you will soon be on the road to making great Forex profits in around 30 minutes a day or less.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf’s, with 50 of pages of essential Forex info and more on how to Become a Forex Trader visit our website at: http://www.forextrendfollowing.com


Article from articlesbase.com

9 Secrets For Forex Trading Success

July 15, 2011 by  
Filed under Latest News

9 Secrets For Forex Trading Success

There are many different perspectives on negotiation (trading) currency, some people swear by fundamental analysis, while others consider it unnecessary and tell you to focus your energy on reading technical charts. Some experts will tell you to take advantage of the leverage given to you in the Forex market, while others will tell you to stay away because the more leverage is high, the higher the risk. Here are some tips for universal trader (trader) Forex. They can all be summed up by a basic principle of objectivity.

You do not have to follow each of these rules to the letter but rather be considered as an indication of the type of philosophy that you should have regarding the Forex. Some of them may not be correct for all the speculators (trader) but are general tips that are designed to lead you on the path to success.

1. Self-knowledge Preliminary : This applies to any company that you could take in life, especially with one that comes with such a high level of risk. Before you negotiate, even a pdp on the Forex market, it is imperative that you know. What does this mean? There are endless methods of compromise, so before you begin this journey, choose your method. However, do not choose randomly. Set your short-term and long term, determine how you intend to achieve these goals and decide on your trading method based on your personality.

Each method of dealing with its own advantages and disadvantages and its own risk profile so when to choose one, choose one based on the kind of person you are. For example, only you can know if you are able to sleep with open forex positions with the hope that it will bring long term benefits. If you’re not that type of person that would lead to an increase in your level of anxiety that you will inevitably lead to future failures.

2. Forex Broker consistent: Once determined the type of Forex trading for you, you must find the Forex broker that suits your method. Do not rush into this. This could be one of the most important decisions you will make when it comes to Forex trading. You can be sure that the forex broker you choose will have the greatest impact on your success or failure as a trader (trader) on Forex. Choose a dealer as if you choose a car. Nobody goes home just 1 car dealer and buy the first car he sees. You need to read about the various brokers, the advantages and disadvantages of each. Need to do a thorough comparison of the number of brokers available.

Once you’ve narrowed your selection to a small number of brokers, you should compare their platforms based on the method you chose in step 1. If you think you are rather a speculator (trader) in the short run, for example, make sure the broker you choose offers comprehensive tools to support this method as part of their platform. Make sure the broker you choose meets all your needs of customer service to the location of their headquarters.

3. Selection methodology and application: As mentioned earlier, there are two main schools of thought when it comes to analyzing the market and predict future trends. The school of thought of technical analysis is based on the famous phrase: “The trend is your friend”. The basic assumption is that the market has a kind of coherence and consistency in its movements. If he went in one direction today, there is no reason he will not go in the same direction tomorrow. There are different types of charts to help you analyze the market and its trends, and indicators and levels.

Then there is the basic school of thought which says that what really moves the market took the news of a specific country. This method will tell you the less you focus on what was in the charts yesterday and more about what was in the news yesterday. Like many things in life, neither one nor the other methods are perfect and a good trader (trader) uses both. However, before you compromise, you must decide what method will be the principal and use it consistently. If you think that the fundamental role more important than trends, focus your preparation and analysis by watching the news and failing to analyze the graphs. Consistency is important.

4. Synchronization graph: Whatever method you choose in step 3, you spend a large percentage of your time watching the graphs of the Forex market. As we have explained, there are many types of graphs, however, most of them will simply display the same thing but with a different visual effect.

That said, there are charts that are very different and should be considered accordingly. You should pay particular attention to the space-time graph that you use. For example, if you see a weekly chart and based on your analysis, it shows you a great buying opportunity, make sure you open a chart with a lower frame in time, as daily or hourly, and make sure they’re saying the same thing. If not, sit back and wait for all your graphics is all synchronized with each other. A sound rule to guide you is to use a longer period for discussion and analysis (where the market is moving) and a shorter time to decide whether to enter or exit the market.

5. Expectancy calculation: So far we have discussed the choice of a method for effective negotiation and to take precautions before compromise. But when and how do you know if you made the right decisions? For this you need to calculate your gains and your losses from time to time. You should go back in your transaction history and count the number of transactions winning vs. losing transactions. Once you’ve done this, calculate the amount traded in all your dealings winning against those who are losers. A good number of transactions to be analyzed is your last ten. If however you are still learning period and have not yet traded, you can also do the same calculation. Just go back and look at all cases in which the system has told you that now would be a good time to open a position. Then, check if you have benefited or lost by this transaction. Do this for 10 cases and write them all! This is a good indication whether you’re on the right track or not.

6. Money Management: This may seem obvious to some but it’s not as simple as it seems. This is your philosophy and perception of money with which you traded (trading). A good idea is to think about your money as a Forex money for vacation. You use this money for the transaction (trading) and it is a good chance it will not be there tomorrow but at least you come out with something: an important and useful experience. However, this comparison is valid only for this specific area, make no mistake: trading on the Forex is not a holiday! Do you think that way will accept small losses psychologically, which in turn will help you become a better trader (trader).

Another useful tip when it comes to money management is knowing how to use the leverage available to you. Many experts warn you not to use more than 2% of leverage on your account. So if for example you have $ 10,000 in net worth, you should never risk more than $ 200 on a particular transaction. We have said many times and it is important to understand that as the potential reward is great in using leverage, there is even the danger of a devastating loss in the forex market.

7. Growth Trust: Following your transaction methods pre-defined, you can not only become a trader (trader) Forex trained more, you also build your confidence, which of course is the basis for success in this market. This is especially true when you have a successful transaction as a result of your method of trading (trading) but it also applies to a transaction that ultimately leads to a slight loss. Whatever happens, it is important to stick to your decisions. Do not let emotions take over, try to remain objective and pragmatic in your Forex trading. This will make you a trader (trader) is more professional, this course will lead you to success.

8. Duty Weekend: If you have not noticed, several basic rules of life apply to Forex trading and it is one of them. Everything you want to accomplish in life and on the Forex requires some preparation. Over the weekend, when markets are closed, it is crucial to your analysis. Read news, watch the movements of the past week and take important decisions on the upcoming week. This method is very effective for many reasons but the main one is that the weekend you can work with the luxury of objectivity. There is no market pressure, no need to make quick decisions, take your time, sit down and take informed decisions on how and when to compromise.

Important as it is, it is not as important to stick to it. If you’ve decided to go to market at some point, expect this. Do not lose your head because of anxiety if the market does not your point, the practice of self-control and restraint. Wait patiently, your time will come and if it does not come, you have lost nothing, there will always be another opportunity. Your main objective is to try to stay as scientific and empirical as possible.

9. Save All: This may seem silly to some but it really could be the edge that will differentiate a trader (trader) to success at another who is not. No one, regardless of the degree of sophistication, they think they are perfectly objective when it comes to their own money. The best way to remain objective is to write everything down.

In deciding whether to open a position, make a chart with the reasons that led you to believe that this is a good deal. This includes technical and fundamental indicators. Then do the same chart listing the reasons not to open that position. Include your points of entry and exit, if you choose to compromise this position and take notes on the transaction. This could understand your feelings about the transaction, your anxiety and your level of optimism. Specify if you have been too greedy at

Quality Forex Training is the Key to Success

July 15, 2011 by  
Filed under Latest News

Quality Forex Training is the Key to Success

Quality Forex training is the key to success for any budding Forex trader. But sometimes I think Forex training is too regulated then at other times I think that there isn’t enough oversight. The reason that Forex training is so important and vital is because the Forex market is extremely competitive, volatile and fragile. Training is an essential step to become an experienced trader. Forex training is in demand as many people look for ways to profit from the currency trading marketplace.


Some things to consider when looking for free Forex training. Many websites offer a free demo account and free Forex trading System training. You can get free, live Forex training over the web from professional traders. Go to one of these websites and try a free practice account and learn how currency trading works.


Choosing which of the many Forex courses you want to take is not an easy task. There are literally hundreds of courses and materials out there for proper Forex training. Some training courses are specifically designed for home study use. But is it necessary for new Forex traders to study more about Forex trading courses or just join a Forex training program. The good news is that lots of courses will show you winning entry techniques and you should take the time to find and digest as many training courses as you can before you begin. Due to this fact, more and more people are either enrolling into FOREX courses or purchasing different kind of books regarding FOREX trading. Online education courses are a great way to learn and there are many to chose from on the internet today.


Without the proper preparation and expertise, a trader’s chances of succeeding are reduced. With the correct training and mentoring a new trader can then intelligently develop a strategy that is suitable for him. Get to know the tools of the trade, as well as what will be expected of you to become a successful trader. If you’d like to learn how to become a successful Forex trader, consider a professional Forex mentoring course. With this kind of one on one assistance, a new trader can acquire and improve their necessary professional trading skills. With a little research, you can learn how to avoid common Forex trader mistakes and how to learn to move on. Have you heard the wise saying that a trader who fails to plan, plans to fail.


You may ask, “Do I have what it takes to be a currency trader” ask yourself do you have the drive and tenacity to succeed . I can tell you that as a well trained currency trader you can earn average profits of 5% to 25% or more per month. As a competent Forex trader you must study and understand daily foreign exchange rates. Becoming a successful trader will take work and a little stress, but the rewards are great. But I would say that fear and greed are, without a doubt, the enemies of the successful Forex trader and proper training is very important if you seriously want to get into the world of Forex trading.


So to sum it up quality Forex training is the key to success. The reason that Forex training is so important and vital is because the Forex market is extremely competitive, volatile and fragile. Forex training is essential to become an experienced trader. Forex training is very much in great demand as many people are looking for ways to profit from the currency trading marketplace. Training is widely available on the internet, including online courses, advanced trading workshops, books and more. If you search the internet you’ll discover a lot of companies offering Forex training along with some great free Forex resources.

Andrew Norman


Runs a free Blog site giving advice on Forex trading and training. Has lots of useful stuff like a Daily Forex Report, links to free trading systems, books etc. at http://forex-gbh.com/blog/


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