The Best Currency Advice I Can Give You From 25 Years Trading Experience

I have been a trader for over 25 years and have seen most things booms, busts, extraordinary life changing events, the rise of the internet and here I am going to give new traders what I Consider the best currency advice I can in terms of getting started in the exciting world of forex trading...
The first bit of advice I would give you is, don't think currency trading is a walk in the park - its not.
The rewards of currency trading are high and it's important to get the right education and don't believe anyone who tells you that you can make easy money. Forget all the forex robots with there fake track records, or sure fire trading systems at the end of the day they won't help you.
Trading is a personal experience where you have to construct a forex trading strategy and apply it yourself with discipline.
You can get a lot of good education free online and you should approach the markets by using forex charts.
By trading with charts you can simply trade price changes as you see them on a chart and you can learn this skill in a few weeks and soon be making big profits for just 30 minutes work or less per day.
You only need a simple robust forex trading system and forget about anyone who tells you there is some hidden market order in terms of a scientific theory - there isn't and applying complicated theories is doomed to failure, as they have too many elements to break. Keep it simple and keep it robust. I have used the same system for over 25 years and NEVER changed it. Sure it's not perfect, no system is however it makes money and that at the end of the day is the aim of currency trading.
The real challenge of currency trading is maintaining discipline and my currency trading advice here would be - it sounds simple but it is actually very hard and most traders never master it.
If you are a currency trader you are going to have a strong of losses which will last for weeks ( even the best traders do), what you have to do is to keep executing your plan with discipline through this losing period, until you hit a home run which you will, if your forex trading strategy is soundly based. You have to lose to win and many people simply can't take this and throw in the towel.
They can't stay disciplined and if you cannot apply a system with discipline, you simply don't have one.
Currency trading is a unique challenge, anyone can learn to trade but most fail because they cannot accept responsibility, follow others, or get the wrong education.
If you take responsibility for your destiny and get a simple forex system, you understand and can apply with discipline; you can enjoy currency trading success.
The world of currency trading is one where you can enjoy success with a great second income, or even a life changing income, if you have the right education and a disciplined mindset.
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential info and more on Currency Trading Course visit our website at: http://www.learncurrencytradingonline.com.

How To Do Currency Trading

I'm going to show you the necessary steps on how to do currency trading. I'll even share a little with you the things you will need to work on with your personality, so you can be the most efficient trader you can be.

• Find A Good Broker: You're going to need broker of some kind. There are a lot on the internet and some can be very poor quality. This means you're going to have to designate a specific period of time for research. Brokers are the ones that hold your money and make the trades (on your behalf), so you're going to want to have a good one to protect your money. The best place to get unbiased reviews are forex forums. You can search for them on Google. You will be able to find out which ones get poor ratings and which ones are excellent. You can also ask questions, if need be.
• Trade On The News: News effects currency. There is just no way around it. Economics isn't as simple as supply and demand because people control the supply and demand. People get emotional and the news has the ability to scare and excite people. Watch the news every morning before you start trading. You want to get the latest news, especially the political and economic news before you put your money on the table. Government policies and unemployment rates affect currency and you need to be able to identify that.
• Use Your Demo Account: Demo accounts come with your trading platform. They're away to make simulated trades in a real market environment. This is the best and safest way to practice. You can trade hundreds of times before you ever invest a penny of your own money. This can give you the added confidence and self-esteem to be a smart trader.

I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.

Forex Trading Systems - 5 Key Points To Consider To Get The Best Currency Trading System For You

There are lots of forex trading systems online and all promise to make you a lot of money, some can but most don't. This article is all about finding the best currency trading system for you...
Lets look at the points to consider in no particular order of importance, they ALL are!
1. Mechanical or Human Input
Some traders like a completely automated forex trading system, others like to have some manual input on the trading signals - the one you choose will simply depend on your trading personality.
2. Do You like Action or - are You More Patient?
If you are a patient trader, then a long term forex trading system will suit you. If you like short term trading, then you will be more attracted to swing trading - again this is simply personal preference.
3. Is the Track Record Realistic?
The first question you need to ask yourself is the track record real?
By this we mean has it been traded. 99% of forex trading systems we see on the net have not and simply make the track record up in hindsight and use this warning:
"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".
The system may work - but most simulations fail and really you best off with a real time track record.
4. Can You Stand the Peak to Valley Drawdown?
A track record can make profits but it will have drawdown so assume that you join on the worst possible day and check the worst drawdown.
Can you stand it in terms of size and time to recovery?
Always assume your worst drawdown is ahead of you.
5. Do You Have Confidence in the Logic?
You will never have the discipline to apply any currency trading system unless you understand and have confidence in the logic. Keep in mind, any forex trading system has loses, so you need the discipline to ride them out.
Make sure you take the time to learn the logic and have confidence in it, as without the discipline to follow your trading system - you don't have one!
The Myth and Reality
The above are basic questions you need to ask when considering buying any trading system.
There is a huge industry in forex robots and vendors promising you huge riches based upon a simulated track record but they normally always fail.
Be sensible and be realistic in terms of seeking out a trading system that's right for you in terms of - your personality, your tolerance of risk, your objectives and your understanding.
Spending some time and keeping your feet on the ground, will enable you to find a forex trading system that's just right for you and can lead you to currency 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 info and more on Forex Trading Systems visit our website at: http://www.learncurrencytradingonline.com.

Get Rich With the Automated Forex Trading System

Foreign exchange, aka Forex, is a worldwide technological phenomenon in financial trading. Essentially Forex trading is defined by the exchange of one type of currency for another.
Incredibly, $3 trillion dollars are invested daily in the Forex market. Forex trading differs from the stock market in that investors must bid on scale and there are greater differences in the lower investment rankings. Anyone from multi-national financial conglomerates to the layman can bid and profit within Forex but naturally the highest financial rankings belong to the superpowers.
Of course, the higher ranks of trading in the Forex market are almost entirely reserved for big financial corporations like international banks. They offer the smallest difference for the bid you make and the price they are asked for. The smaller firms occupy the next few levels. These firms trade in small amounts and thus have less of an influence on the real rates as compared to the big financial corporations. These are followed by the central banks.
These banks concern themselves with manipulating real cash flow and controlling price inflation and other related measures. These central banks make use of foreign exchange as reserve funds. The hedge funds follow the central banks in this hierarchy and subsequently succeeded by the investment management funds. These operate at the level of mutual funds in the stock market.
Bottoming out in the pyramid are retail Forex traders, who participate indirectly in investing, and independent traders who rely heavily upon market trends rather than holding any market influence.
Several traders rely heavily upon Forex trading in order to predict financial trends and minimize losses. The software tracks market trends and enables investors to make informed decisions. Forex auto-trading is a smart move in preventing unpredictability in the foreign investment market.
In Forex trading it requires the ability to multi-task by following market trends while simultaneously maintaining continual market surveillance. Greater security and continual, 24-hour access make online trading especially appealing.
For traders in constant motion Forex trading can be done via mobile phones, an incredible boon in foreign exchange investing.
Current technology enhances trading options particularly when done via Forex auto-trading. Global trading through a laptop computer via internet connection is all that is needed for ongoing financial investing.
Richard U. Olson uses the incredibly accurate Forex Expert Advisor and he recommends it to make consistent profits in the Forex markets. Grab his FREE e-course on Forex Trading Tips to realize your financial dreams.

Forex Trading Style- 7 Essential Indicators You Need

When developing your own forex trading style, there is a danger in becoming fascinated with indicators. The newer trader experiments with one, finds it doesn't work so well, then switches to another, then another, etc.
The list below highlights 7 key indicators that can be woven into your forex trading style. You may not need to go any further than this. Stick with the 7, practice them, get to know them inside out, and get the satisfaction of developing your own successful forex trading style.
#1: Candlesticks
Watch for a hammer, doji, head and shoulders pattern, 1-2-3 formation, double top or bottom.
#2: Trendlines
Draw common sense trendlines across the highs in a downtrend or lows in an uptrend. Watch for price to break the trendline and come back and test it.
#3: MACD
Watch for a difference between the highs and lows of MACD and price. When there is divergence watch closely for a good entry point once price has shifted in the direction of the divergence.
#4: 200 EMA
This indicator is an all time favorite for traders across the board. On higher time frames (1 hour, 4 hour, daily) take note whether price is above or below the 200 EMA to give you the sense of price direction.
#5: Pivot points
Take note of previous support and resistance lines as price will come back to retest these levels time and time again.
#6: Fibonacci
Learn how to use this tool well and take particular note of the 50 and 62 retracement levels, especially when they coincide with trendlines or previous support/resistance.
#7 Price Itself
Let price prove to you where it wants to go by setting entry orders rather than market orders when entering a trade. By setting an entry order, price has to reach the target you specify before pulling you into the trade.
Using Technical Indicators
It is important to acknowledge the probability that no indicator on its own is a good enough reason for entering or exiting a trade.
Your individual Forex trading style will evolve in time as you become familiar with the key indicators and probably rely heavily on just 2 or 3 out of the 7. However, it is crucial to get a combination factor when considering a trade. Ask questions such as:

• While one indicator may show a clear signal, how do the other indicators line up?
• Is that one signal running against the general conclusion drawn from the other indicators?

This is where your skill as a trader comes in as you assess the clues the indicators give and make a decision based on your perception and experience in the market.
Only time and practice can give you that. Once you are familiar with the top 7 indicators, spend most of your time and energy on developing the emotional and mental disciplines necessary for successful trading. This will eventually make up the most important part of your Forex trading style.
Click here to see how indicator #3, MACD, can help you avoid much anxiety:
http://www.vitalstop.com/Forex/macd.html
Click here to learn how to use indicator #4, the 200 EMA, in a simple yet powerful way:
http://www.vitalstop.com/Forex/Advisor/200EMA-forex-strategy.htm
For the best free economic calendars plus a free pivot point calculator and Fibonacci calculator click here:
http://www.vitalstop.com/Forex/tools.html

What All Forex Traders Need to Know About the Major Currency Pairs

In Forex trading, a group of currency pairs known as "the major currency pairs" constitute over 85% of daily foreign exchange volume. Because there is so much volume for these currency pairs, they are generally regarded as safer to trade; their massive volume ensures that it is relatively easy to find a buyer or seller to take the other side of your trade.
The major currency pairs are outlined below. It is worth noting that the US dollar is a part of all major currency pairs, a fact resulting largely from the US dollar's role as the world's reserve currency. Should the US dollar lose its status as the world's reserve currency, the major currency pairs may lose their significance for traders - or, alternatively, a new group of currency pairs may earn the title of "major currency pairs."
Euro/US dollar. The Euro/US dollar (EURUSD) currency pair is the most active currency pair traded in the Forex market. The fact that the Euro is used by many European countries, coupled with the US dollar's role as the world's reserve currency, create this scenario. Since the Euro's inception in 1999, the currency has risen sharply against the US dollar.
British pound/US dollar. The British pound/US dollar (GBPUSD) is another actively traded pair, a result of the pound's high interest rate (which incentivizes buying of the currency). The stability of both currencies also makes it appealing to traders seeking less volatile assets to invest in.
US dollar/Swiss franc. The US dollar/Swiss franc (USDCHF) is a major currency pair that tends to enjoy greater trading activity during times of greater geopolitical risk. This stems from the fact that the Swiss franc has historically been regarded as a safe haven currency, due to the fact that it previously had a legal requirement that a minimum of 40% of its value be backed by gold reserves. Though this legal requirement was terminated on May 1, 2000, market activity still tends to regarding the Swiss franc as a safe haven currency, as buyers still flock to it during times of increased geopolitical risk.
US dollar/Japanese yen. The US dollar/Japanese yen (USDJPY) is the only major currency pair that involves an Asian currency. Japan has historically had an export-driven economy, and thus the Bank of Japan - the central bank that regulates the value of the yen - has intervened to ensure that the yen remains weak, and thus conducive to sustaining an economy of exports.
As the major currency pairs constitute the vast majority of Forex trading, they are important for all traders to be aware of.
Simon Parth has been an active Forex trader since 2002. He is the co-founder of InformedTrades.com, a community dedicated to creating a comprehensive free online school for traders.

8 Tips on How to Make Money With Forex

Here I would like to discuss what are the 8 tips to help you make money with Forex.
1. First issue is tying to trade when there are news announcements without proper knowledge you will lose but that doesn't mean that you can't learn. Once you learn you will succeed.
2. Trying to trade without doing your homework because trading forex you cannot just jump in.
3. Using a demo account. This tool you can use it to actually get a real idea, without having to risk your money. Learning your trading platform, and testing your strategies. When testing your strategy your gain more confident enough to use your real money.
4. You need to learn how to control your emotions: If you don't you could lose some great trades so learning how to control them you could be very successful.
5. You need to learn how to gain confidence in trading and develop that into a strong level that would make your trading decisions successful.
6. A strong knowledge of different indicators and to learn from them and which ones would be helpful towards your trading career.
7. Knowing when to enter into a trade and not too. Very important.
8. Acknowledging when you need help even; top traders are always learning different methods of forex trading; and that's why they succeed.
One of the most important things in trading is to develop a daily routine and a trading style that will come in time. Also note that learning to trade is to recognize the skills you need to develop and then stay focused on that development and maintain a positive outlook on your trading.
So why not start your forex trading career, here you could find more tips at http://www.squidoo.com/successfulwithforextrading

Pivot Point Trading- 7 Guidelines For Success

What do we mean by pivot point trading? It simply means that Forex traders take into account pivot points calculated from the previous day's trading range and use them as reference points to identify support and resistance levels.
Taking the high, low, close and open values of the previous day's price action, strategic levels can be identified which may or may not have an influence on price action. Pivot point trading puts emphasis on these levels, and uses them to guide entry and exit points for trades.
However, as with any technical indicator, there are limitations and pivot point trading, to be high probability, needs to stay within certain parameters. The following 7 guidelines can help pivot point trading be more profitable:
No. 1
Pivot points should not be used as a standalone indicator. Do not enter or exit trades purely on the basis of pivot points. Use them in conjunction with other indicators such as candle patterns, Fibonacci levels, MACD, and moving averages to identify and confirm key levels of support and resistance which may provide trading opportunities.
No. 2
While some traders living in various parts of the world may calculate their pivot points according to the time zone in which they live, a fairly safe standard for calculating the levels of pivot point trading is to use GMT (Greenwich Meantime).
Midnight GMT is a very quiet time in the market with very little volatility and provides a good opportunity to calculate more accurate pivot levels going from midnight GMT to midnight GMT the following day.
No. 3
It is good to understand what is going on behind the scenes when it comes to pivot point trading. Rather than just staring at candles on a chart, understand what they actually represent.
Thousands of traders around the world, some working for large institutions and handling millions or even billions of dollars worth of currency, are taking positions according to previously established highs and lows in the market.
Pivot points draw attention to these key levels which will often be strongly defended by traders who have a lot at stake. This is the reason pivot point trading can be so successful, once a trader understands underlying reasons for price action.
No. 4
It is good to calculate mid levels in addition to the S1, S2, R1, and R2 pivot levels. Sometimes there is a significant gap between these levels and calculating a mid point gives another point of reference. Price will often be seen respecting M1, M2, M3, or M4.
To calculate mid levels, simply subtract the level below from the level above and divide by 2. (see the resource box for a free pivot point calculator)
No. 5
Pivot point trading can be a useful strategy for entering and exiting trades at the right time. A pivot point can provide a key level of support or resistance where price is likely to bounce for a 10-20 pip profit.
Or in the case of a trend, price may retrace to a pivot level before continuing its run. The retracement point at the pivot level would be a good place to put an entry order to be taken in when price comes back to retest at the pivot level.
No. 6
The Euro - US dollar pair often puts in a daily average of between 75 and 100 pips. Watch for specific behavior around the time of the London market open. Price will often come back to test a level which is a pivot point and form a distinctive candle pattern such as tweezers, or a hanging man, and then reverse and go on its 75-100 pip run for the day.
If price comes back to the M1 level check your other indicators to see if they confirm this would be a good level to go long. Likewise, if price, just around London open, tests the M4 level, check your other indicators to see if this would be a good place to go short. You may be able to get a slice of the 75-100 pip run for the day.
No. 7
Pivot point trading helps mentally in establishing the buy zone and the sell zone. Traditionally, anything above the Central Pivot Point is a Sell area, and everything below the Central Pivot Point is a Buy area.
If you go contrary to that, make sure you double check your analysis and have very good reasons for doing otherwise.
Pivot point trading is just one of an arsenal of weapons available to Forex market participants. However, it must be stated that many successful traders use just a handful of tools that become their favorites. After all, too many indicators can lead to decision paralysis.
For many traders, pivot points are a key element in their overall trading strategy. Use the 7 guidelines above to use them safely and responsibly.
For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:
http://www.vitalstop.com/Forex/tools.html
Click here to learn how to use another indicator, the 200 EMA, in a simple yet powerful way:
http://www.vitalstop.com/Forex/Advisor/200EMA-forex-strategy.htm
Do you know the important lesson Mohammed Ali teaches us about Forex trading? Read it here:
http://www.vitalstop.com/Forex/Advisor/forex-online-trading-mohammed-ali.htm

My Currency Trading Lessons

I wanted to take the time to share some of my currency trading lessons that I've learned over the years of trading. Often these lessons came at a price of losing some money. Every form of temporary failure I experienced, I learned a new lesson and grew a little as a trader. Things are much more profitable now and the lessons are much further apart, so I thought I'd share a little about what I learned.
When I first started out, I was always looking for a good buy. I was checking out to see what was cheap and affordable for me. There is one distinct issue with this philosophy; the buying price doesn't matter. The only thing that matters is how much you're going to sell it for in the future. When get off the "cheap" band wagon and start looking at trades by the potential exit point, you really to notice a big difference in the money you make.
Just because something is cheap now, doesn't mean it's going to give you a return anytime soon. You have to always be focused on what is on it's way up and buy into that. Exits are all that count because you don't see a penny of profit, until they're sold.
I think having software can really help you effectively compete against firms and businesses. They all have employees watching the market all the time and you don't have that ability. What you can do is get a trading software that can buy and sell automatically based on smart analysis.
Street Smart Forex is an excellent automated software tool that does analysis with a street smart edge. This will give your competition and run for their money.
Learn more at the Street Smart Forex Review.

Don't Lose Money Enrolling in an E-Currency Trading System

Every day brings a new and more exciting way to make money online. If you believe the dozens of advertisements that bombard us everyday, all of us should be millionaires. Why aren't we? Because 95% of the offers to make you rich are pure nonsense.
The latest scheme involves an old idea made new again. In the late 1990's millions of people lost billions of dollars when they discovered the lure of fast, easy profits from day trading. The rebirth of that idea is E-currency trading. Quickly becoming the darling of the online scammers, there are multiple sites offering the perfect trading system to make you rich while you sleep. These schemes are also called Forex trading systems. Forex, of course, stands for trading in foreign currencies.
E-currency trading is not new. It is however, enjoying a new popularity as more and more programs are being offered for sale. These programs, which range in price from $300 to $800, promise to train the investor to make high profits by trading in the foreign exchange markets. As with most other scams, there is always some expert who will tell you which program is the real deal. Don't believe any of them!
According to the Wall Street Journal, the average individual who purchases one of these systems, loses about $15,000. A typical program promises that if you will invest $200 to $5000 in the system, you will make thousands of dollars in profit in just a few weeks. Of course, the more money you invest the faster you will become rich. It's not going to happen.
Prior to the availability of the internet as a trading portal, individuals could only trade in currency through banks or reputable brokerage firms. But with the use of the internet by individual to trade, there is very little control by government regulators. The U.S. Commodity Futures Trading Commission is charged with the responsibility of regulating the currency trading industry. But it is difficult for them to find the online sites that are responsible for the majority of the fraud and responsible for the losses suffered by individual investors. In the last 5 years, the Commission has prosecuted about 80 cases on behalf of about 23,000 individual investors. Those investors lost over 350 million dollars.
Some of the so-called experts will tell you that there is an even better system for making money than an E-currency program. They will encourage you to join an arbitrage trading program. The wonderful difference is that you can buy this program for a mere $139.
Arbitrage is simply a financial word which means taking advantage of a price differential between two or more markets. E-currency trading is simply arbitrage of currency markets. They are the same thing. The scammers will tell you that arbitrage trading has been around forever, as if that makes it safe.
It has been around for years because banks and investment companies have professional traders who devote their full attention to trading foreign currencies. A few experts can arbitrage the foreign currency market for large gains. The individual is always under capitalized and could never compete with large financial institutions doing the same kind of trading.
The simple fact is that if you want to try E-currency trading or foreign exchange arbitrage, understand that it is a very high risk strategy. The only funds you should ever use for this kind of investment are funds that you can afford to lose.
There is one more consideration. Many of the early guru's of Forex or E-currency trading have been prosecuted and even gone to jail. If you are invited to join such a program and offered the opportunity to enroll others in the program, you may be putting yourself at risk of prosecution for fraud. Today I counted more than two dozen different Forex or E-currency trading sites to entice individual investors. Do yourself a favor. Stay very far away from all of them.
Sheila Guilloton is the owner of Prestige Planners and studies and reports on internet scams. Read more at http://www.PrestigeBusiness.homebiztruth.com

Currency Trading Basics - A Simple, Timeless Method For Huge Gains

Here we are going to look at currency trading basics from the standpoint of getting a currency trading system for profits. The one enclosed is simple to understand and will enable you to seek huge gains.
Here we are going to look at a long term breakout method for profits and how to make it part of your forex trading strategy for success.
What is a breakout?
It's simply a break to new chart highs or lows and if you look at a forex chart, you will see that most major moves start from these breaks.
Why Most Traders Can't Trade Them
Breakouts work yet most forex traders can't trade them because they think they have missed a bit of the move and want a better entry price but if the break is valid they wait in vain, as the trade sails over the horizon piling up huge profits and there not in!
The fact that most traders cant trade breakouts is the reason they are so profitable, so trade breakouts and get in the winning minority.
While these breaks can sometimes be hard to take, if the support or resistance is valid, the odds favour a big move - but not all breakouts are created equal.
Let's look at the definition of a valid breakout.
The Best Breakouts
Generally, the more tests the better, the more time frames the better and the wider they are apart, the better.
The minimum you should look for is 3 tests in at least 2 different time frames.
Patience is the Key!
Be patient and wait for the big breaks the market considers valid and you will be well rewarded.
I know a few traders who trade less than once a month yet, make triple digit annual gains from breakouts.
Confirm the Move
When the break occurs check price velocity or momentum is accelerating through the break and here you need some momentum oscillators to help you7 1 or 2 is fine and we find the stochastic and RSI, great indicators to use.
We don't have time to go into them here check our other articles.
Stop and Profit
Stops are easy - right under the breakout point. Now the key with trading breakouts is not to trail your stop to soon. Wait until the move is well underway and trail your stop well behind normal price volatility, so you don't get stopped out to soon.
It doesn't matter if you give a bit back at the end of the trend (you don't know when it's going to finish anyway) so don't try! If you caught 50% of every major trend though, you would be very rich.
Does the above sound simple?
It is.
Does it make money?
Yes and it will always make money as long as markets trend breakouts will occur and if you are selective on the ones you choose and confirm the moves, you could enjoy spectacular currency trading success.
You can learn and be up and running with a breakout strategy in about a week and seeking big profits.
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential info and a Currency Trading Basics visit our website at: http://www.learncurrencytradingonline.com.

Beginner Currency Forex Trading Advice - More Money For You

Trading Forex is an exciting way to make heaps of money, however as with all business opportunities only some people are successful. Today there are many good trading systems being offered online, so why isn't every one making heaps of money. The answer is simple, there is more to trading than placing a trade.
I have researched the different behaviour of those who have maintained a successful trading career and those who have similar trading systems but have not been able to sustain a trading business and have written down the tips and strategies that will help you take your trading to the next level.
This information is not only beginner Currency Forex Trading advice but is also important to any one Trading.
Beginner Currency Forex Trading Tip 1: Money Management.
Before anyone starts trading it is important to understand how the laws of probability work. If you know that your system will give you a 60/40 win ratio long term (and this is a winning system) your wins might be mixed in with the losses, however it could happen that your first 4 out of 10 trades lose, this could compound to your first 40 out of 100 trades losing.
How many traders would still have any capital and be prepared to go on to win the next 6 or 60 trades? This explains the need to limit your trade to 1% of your capital, this will give you 100 trades before losing your capital.
Many Traders after a losing trade think that doubling up on the next trade is the easiest way to get back on track. This is NOT the answer. Let me explain Recovery of Lost Capital. To give an example, if you start off with $10,000.00 and lose 20% you have lost $2000.00, leaving a balance of $8,000.00. At a quick glance it is easy to think you need to win 20% of your capital back and you will be even. However that is not the case. You actually need to win 25% of your remaining capital ($8000) to be even. As the % of loss against the original capital increases so does the % required to be even increase. At 50% loss of the original capital $10,000 your remaining capital is $5000.00 and you need 100% of that remaining capital to get back to $10000.
($5000 + $5000 = $10000).
Remember if you have more than one trade open at the same time, although each one might be only 1% of your capital, your actual risk is 3% ( 1% + 1% + 1% = 3%). Having a risk management plan will keep you trading and being able to accumulate excellent profits.
Beginner Currency Forex Trading Tip 2. Psychology and Mental Skills of Trading.
All Traders have access to similar information but only 10 -20% are successful and able to achieve sustained profits. Even knowing the above tip is not enough it comes down to you, the Trader. Winning Traders all have the following attributes. Discipline, Patience and Confidence.
You must have the Discipline to plan your trade in advance both where you enter the trade and where you exit, stay with your system and do not break the rules of your trade and don't get emotionally involved with the market and what is happening.
Confidence plays a large part in successful trading. You must believe in yourself and your ability to analyse the market otherwise it is too hard to make the right decision.
It is very tempting to rush into a trade, be patient, wait for the system to tell you when to trade, and don't try to make the signals fit your system. Remember the market is open 6 days a week 24 hours per day and the moment to trade will happen. Short term traders can be very tempted to trade against the short trends due to frustration, unfortunately the results are usually poor.
Trading must be seen as a business with a plan, goal and strategies.
I hope this information helps put you onto the path of being a successful Trader.
Lyndsay is a successful entrepreneur, author and forex trader. Discover how you can get the best proven forex system and start trading successfully today. For the #1 forex system available check out http://www.best-fx-trading.com/

Forex Trading Education - The 7 Point Checklist For Using Trendlines

Forex trading education naturally falls into two parts. First the easy part, learning technical indicators, how to use a trading platform, the terminology, etc.
Secondly Forex trading education must include information on the mindset of a successful trader and the disciplines that need to be learned in order to handle the emotional and mental demands of trading in the market place.
Here we provide a list of 7 guidelines for using trendlines as part of your Forex trading education using technical indicators.
Trendlines may be regarded by some as one of the weaker indicators although still valuable. They can be powerful when used in combination with other factors. That's why an effective Forex trading education doesn't rest on a single magic formula but rather involves an investment of time and energy as the new trader learns to combine the input from a number of tools to reach a clear decision.
When using trendlines to identify an optimum entry point for a high probability trade keep the following points in mind:
1. Trendlines on lower time frames such as 5 minute, 15 minute, or 30 minute, do not have much significance by themselves. Take more note of price reaction around trendlines on the higher time frames, specifically the 60 minute, 4 hour, and daily chart.
2. Trendlines on a daily chart carry a high significance as this is the chart many traders of large institutions use. They do not participate in intra day trading but rather look for position trades as they commit large sums of money to a transaction. The daily chart is often their point of reference.
3. Draw general trendlines across the significant lows in an uptrend or the significant highs in a downtrend and use them as a point of reference to show where support or resistance is likely to be found.
4. If you want to get more specific, use the Tom DeMark method of drawing trendlines. This technical advisor recommends using the current swing high or swing low, depending on the trend, and then connecting that to the previous swing high or low (to the left on a candlestick chart). The line is then extended out into the future. These trendlines can be constantly updated as new highs and lows are reached.
5. For trendlines to be effective indicators, they must be used in conjunction with other technical indicators. So if a trendline is crossed by a support/resistance line, or a pivot point, or a Fibonacci retracement or extension level, you now have a combination of factors indicating this could be a suitable entry point.
6. Add these two trendline methods to your Forex trading education:

• When price has an upward or downward momentum (as opposed to moving within a consolidation channel), look for times when price will come back to bounce the trendline before resuming the momentum.
• When price breaks a trendline, rather than enter a trade at that point, choose a more optimal entry point by waiting for price to return and test the back side of the trendline that has just been broken. This will not always happen and you risk missing being taken in. That's trading! But more often than not this will happen and you get an excellent entry point.

7. Do not use trendline breaks or bounces as an entry signal by themselves. They do not provide a strong enough signal. If you add this crucial piece of information to your Forex trading education you will minimize the number of trades you regret entering.
As part of your Forex trading education, use your demo account to experiment using trendlines.
Remember they have limitations. In themselves they can give a false signal. Used in combination with other technical indicators however, they form a more complete picture, giving you a clearly defined graphical representation of where price is and where it is likely to go.
Keeping the seven point checklist above in mind should help keep you out of troublesome trades when using trendlines!
See how to use trendlines to get an optimum trade entry point:
http://www.vitalstop.com/Forex/trendline.html
Do you know the important lesson Mohammed Ali teaches us about Forex trading? Read it here:
http://www.vitalstop.com/Forex/Advisor/forex-online-trading-mohammed-ali.htm
For the best free economic calendars plus a free pivot point calculator and Fibonacci calculator click here:
http://www.vitalstop.com/Forex/tools.html

An Introduction to Mini Forex Trading

The Mini FX account could be useful in assisting traders for developing a disciplined, balanced forex trading strategy with no focusing extremely on profits and losses. Relatively forex traders with small balances tend to grip on their equity fluctuations and base trading decisions on moving reactions to these fluctuations sometimes particularly when trading 100,000 currency unit lots in a standard account.
Many forex traders refuse to agree to closing-out failed trades at a loss, as they expect that the foreign exchange market would go round in their favor. Many of them would also have a tendency to take profits directly when the forex market moves in the wanted direction, other than maximizing their gains by permitting profits to run. However with less capital at bet in a Mini FX account, you could simply grow a disciplined trading methodology along with the self-assurance wanted to be a winning currency trader without the anxiety and distractions, which come with large P&L swings.
Money Forex Mini account was planned for those who are fresh to the forex account. Mini Forex account trades in lesser deal sizes of ten thousand units that is 1/10th the size of the typical trading account. The smaller trade size gives forex traders the chance to trade live with less actual risk to the forex market. This Mini account assists traders to know well about the Money FX and to get familiar with them.
Mini accounts are peaceful for traders who are knowledgeable in trading with a demo account, and would like to earn more knowledge before opening a standard GFT trading account. Without taking the risk of capital in huge amounts, mini accounts allow traders can turn into more familiar and satisfied trading with award-winning software. Due to the smaller lot sizes, lesser minimum account deposit needs and the capability to use higher leverage, mini accounts permit beginner forex traders to develop trading strategies and build self-assurance in the FX market. With obtainable leverage of up to 400:1, you could trade more capably by getting one of the highest leverage ratios in the forex trading market through GFT.
Uma is a Copywriter of online forex trading . She written many articles in various topics such as forex day trading,forex trading system.For more information : contact her at 1worldforex1@gmail.com

Forex Tool Defies All Odds

Foreign Exchange trading or Forex trading is the business of currency exchanges among countries. It is the biggest financial market in the world that is valued at two trillion dollars. Looking at how huge it is you might start to wonder if it could be a business for the big guys only. The answer is no - especially since there is forex auto trading.
Even budding entrepreneurs, students, or housewives can get in the game and have a chance to succeed. Forex auto trading involves Forex trading robots or expert advisors (EA), which automatically trades in behalf of its owner. These robot traders in Forex auto trading use mathematical algorithms in analyzing data fed into it. These EAs refer to the owner's set parameters in their search for short term trading opportunities in the world market. The minimum investment to start forex auto trading is around $10,000.
This amount is minimal compared to how much the owner can potentially earn if he uses the EA properly. The user can work on it alone or he can still make use of money manager to continuously monitor the transactions. Although many have been very skeptical about this when it first started, so many traders who used the technology has found that there are so many advantages when they us a forex auto trading robot:

• It works nonstop and feels no hunger and fatigue. It doesn't need to go to the john for a breather. It just keeps on working without complaining.
• Since it could compute fast, no human can match its output in terms of analyzed data. Since the forex market moves at a very fast pace, humans often find it difficult to cope. The EA has no problem since it is well equipped to tackle millisecond trading in a breeze.
• The EA sticks to the plan and the settings that were programmed by the owner initially. It is not fickle and has no qualms about going for something it has computed is safe and profitable.
• In forex auto trading, there is no human emotion that can affect the trading, The EA doesn't exhibit fear or greed.
• The robot trader is a dependable watchdog as it monitors charts that can signal its moves as it trades. This frees up the owner from being tied to the computer the whole time. His extra time can be spent on honing his skills and developing or improving his strategies in forex trading.
• The EA is an awesome multi-tasker since it can monitor many markets with so much ease at a short time. This gives the owner a lot of open opportunities he can study for his forex strategies.
• Developers constantly upgrade the forex auto trading software packages in order to match the continuously evolving market.
• There is no time zone issue when it comes to trading the forex using the robot traders since they can be up all day, all night with the same consistency and accuracy in trading
• The EA asks for now commissions for doing a good job.

This long list of advantages of forex auto trading is a proof that the forex market can be a great opportunity for everyone, not only the financial experts. Once you find the robot trader that matches your trading style, you can start using it to your advantage.
Matt Marrow's Favorite Site is http://www.forexbrotherhood.net

The Misconceptions of Forex Trading

One of the reason why Forex trading has surged in popularity is because of the claims that it is extremely profitable. The majority of these new traders enter the fore market with nothing more but just the notion of easy profits. However in fact this misconception had also caused many to hold back and on some occasion quit altogether out of pure frustrations.
Before you start trading, here are some things you should know.
The Forex market is not equivalent to the stock market
A lot of people nothing the similarity between the two markets assumed that they are both the same. However, this is not so. There is actually a world of differences between them. It goes to follow that the skills sets for each market is different. Equating them both is like comparing shoes making skills with sock knitting skills and saying that they are both the same. Therefore even if you are experienced in the stock market, you will still need to start with the basics in the Forex market.
Regardless of the timezone, trading is available anytime
It seems like the majority of ads promoting Forex trading courses and systems try to lure people in with this one. Yes, it's true the Forex market is open 24 hours a day and you could, theoretically, trade whenever you want. If you want to be profitable, though, you're not going to be picking your own hours. In order to make profitable trade, you need volatility in your currency pair. That's not likely to happen when everybody's asleep. Naturally, the best times to trade will depend on your currency pair.
Trading on the Forex has no commission payable.
Free is an overstatement here. It's true that in Forex trading you don't need to pay a fixed commission on your trades. What you do pay, however, is the spread. That means the more trades you make, the more you'll end up paying. That's hardly free.
You'll profit only if you can predict what the markets will do
No one can ever predict which way the market can or will go. The best anyone can do is by making an educated guess. Most people do this by using technical chart analysis. The reasoning behind all this focus on prediction is the fallacy of trying to keeping one step ahead of the market. Most forex traders in trying to do this just ended up mentally exhausted the best way actually to go about trading on the forex market is to just follow market sentiments. Thus when the market changes, all you have to do is to react appropriately. The ability to know what to do in times of changes comes about only when one has experiences.
Simple strategies are not plausible
There seems to be something about complexity that mesmerizes people. Even people who should know better often subconsciously assume the system with the most whistles and bells and razzle-dazzle is the most effective. It's the underlying believe that if a system is complicated that means it's really thorough and leaves absolutely nothing to chance. That's just not always true, though. Sometimes complex systems do nothing more than take the scenic route to the very same conclusion a simpler system would have led you to.
people believes all these claims because of the all the misleading advertisements on the forex market. And these advertisements lead people to believe the wrong idea about forex markets. Therefore before you start trading in the forex market, take time off to learn the actual situation about the forex market if you want profitability minus the headaches.
Need elite Forex Trading Softwares with sound & reliable statistical elements? I highly recommend that you review Forex Raptor to trade up to 500% more effectively!

Shocking Forex Trading News - Free Forex Tips

Looking for forex tips but don't have the money? Or were you given a Shocking Forex Trading News but don't know if this tip is worth using? As a rookie in the trading game, you will be in constant search for forex tips to increase you understanding of the currency, gain better foresight for strategies, or just simply improve your earning potential. You may search high and low, but most of the winning forex tips are best kept as secrets, because only few are really winning strategies. Though majority of traders will eventually lose, we may succeed with just the right forex tip at hand.
Most free forex tips are given to fellow beginners to help each other out understanding the market. One of the best and sure-fire tips to give out is that trading forex requires a lot of planning and strategy. If you're trigger-happy, or an impulsive buyer, you may want to go back to your shooting range or to the mall, as spontaneous investments simply rely on chance and luck to succeed. As any tactician would, you can use a demo account, instead of real time, real life trades first to assess the situation of the current market. Remember the saying "Too good to be true?" In most times, it usually is. Just sit still in that comfort zone of yours, and if you have enough experience, then you can beat it out against the system
Every trade and every move towards every trade in forex should be well thought out. Free forex tips are just the tip of the iceberg when it comes to forex trading. Forex trading is not for those who are searching to make quick money. The best investments usually take days to trade and those are that are usually worth the wait.
Like any well-planned attack, every move and every trade should be well thought of, should be well executed. More often than not, Free Forex Tips are usually just the tip of the iceberg. Again, let me stress that forex trading is not for those who want an instant buck. Like wine, the best investments take time, and it is really worth the wait.
Do you want the very best forex trading robot? 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

Beginners Forex Trading - How to Avoid the Pitfalls

When looking for beginner Forex trading information it is important to start by remembering to look at the source. If someone is offering you their "secrets" then chances are this information is not a viable source. The reason for this is simply for the fact that only 5% of those who start trading in the Forex market will actually and consistently make a profit. For this reason, when one finds a strategy that works, they are not likely to part with it to anyone and will guard that secret closely.
When you fist sit down in front of the computer to consider your start in the Forex market, you first need to decide which platform you will want to go with. For most beginners in Forex trading, they simply go for the company who has the lowest account opening amount. This is not always the best thing to do since their platform software, regardless as to whether you download it or use it through you browser, may not have all of the things you need to proficiently trade in the currency market. Instead, if you have to, save for a little bit longer until you can open up an account with a well known name as these will more than likely offer a better trading platform interface.
The first thing you will notice though is the charts. These come in a variety of updating times which can range from hourly to live feeds, and each and everyone will allow you to look at the currency pair's rates. Keep in mind that the Forex trades in the major currencies in which the first currency is the base while the second is the track currency. You can then opt to hold a short or a long position. The difference between the two is that the long position is where you buy the pair with hopes that the base outperforms the track. On the other hand the short is where you hope that the track outperforms the base.
When it comes to beginners Forex trading, there is a lot of information out there which can help you to become a better trader, just try to stay away from anything that seems to be too good to be true or too complicated as these will almost always end up costing you profits in the long run.
For beginners forex trading, it is advisable to use an automatic forex software to help make some profits while learning the ropes.
However not all softwares are equal. The best way to get started is to read Forex Robots reviews. For a list of reviews, CLICK HERE

10 Common Mistakes In Trading

I would like to talk about 10 common mistakes in trading. New traders are often unaware of what is required in trading and the bad habits that can lead to financial suicide.
1. Under capitalization - One of the first mistake I made when beginning to trade was being under capitalized. I started with a $10K account without any idea on how to trade. You need enough capital to learn and gain the experience. Some like to call the initial stake "market tuition." If you can avoid paying your dues, great for you. But most new traders will lose their money. Just make sure you learn from every loss.
2. Having the approach to trading as a "learn as you trade" - Big mistake. "Learn as you trade" = losing money. Losing money can lead to emotional and financial stress and may even create enough fear in you making it hard to trade. Make sure you come prepared to the battlefield. Be a strategist. Sun Tzu said, "The battle is won before it is fought." Think about it.
3. Trading as a hobby - Take a look at your hobbies. Do they make money? Hobbies in general are entertainment that cost money. Do not approach trading as a hobby. Treat it like a business. Develop a business plan, have goals, and understand what you want out of trading.
4. Thinking that you know it all - The moment one thinks he knows it all is the moment he has become a fool. Its impossible to know everything about the markets. This is a lifetime learning process. Find your niche.... find your speciality and be an expert in it. In other words, find your edge. One thing I learned in trading is that niche = money.
5. Trading without a plan - One of the worst things you can do as a trader is to trade without a plan. Trading without a plan is like driving in a new area without a map or a navigation system. You are lost.
6. Not following your trading plan - Okay so now you have a trading plan. Why don't you just follow it? A common mistake among traders is not following a developed trading plan. This leads to impulse trading or emotional trading.
7. Wanting to be right - Are you trying to be right? Or are you trying to make money? This is a hard one... I personally have to battle myself to avoid this bad habit. Our egos interupt with our trading and we tend to want to prove something to ourself or someone else. The markets do not care what you think. You are in it to make money.
8. Money Management - Strict money management is a necessity. Set your risk parameters for all your trading setups. A common rule is to risk no more than 2% on one trade. I prefer 1%. Being long 10 different stocks at 2% risk per trade is not a good idea. In fact you are risking 20%. Know your size and do not double up your position after a series of losses. Be a grinder and not a cowboy.
9. Have realistic goals - Too many traders come into this arena without unrealistic goals. Questions like "Can I make a million my first year with a $10k account?" Sure you can..... but is that really realistic? Focus on crafting your trading. When you know how to trade the money will flow naturally.
10. Not analyzing yourself and your trades - This a poker habit I have. I tend to analyze every losing and winning hand to learn from it. Traders need to do the same and analyze every trade. Think about it after the trading hours and focus on what you can do to improve. Trading is a constant journey of soul searching as well. Understand yourself and you will significantly improve your trading.
James Lee is a full-time day trader specializing in the mini-sized Dow futures. His core trading strategy is based on pivot point clusters and Market Profile. Find out how to identify high probability trading opportunities at http://www.traderslaboratory.com

4 Trading Mistakes and How to Avoid Them

Enormous amount of traders always make the same mistakes over and over again. In fact it is not that difficult to avoid those mistakes. It's enough to remember a few rules. It doesn't matter if you are a day trader, swing trader or position trader. Everyone makes mistakes. It's just a human nature. Almost everyone who starts to trade makes the same mistakes. New traders make errors because of insufficient experience. The foundation for them is the thinking pattern that is common to most people.
If we ignore the charming illusions about ourselves every single one of us makes mistakes, especially when we need to make decisions in Forex market. The only entity that doesn't make mistakes is market itself. I will not go into the root cause of these mistakes I just give you some ideas how to avoid them and make your trading profitable.
Mistake #1 Buying at the top.
Many traders no matter in what timeframe they trade tend to enter the market when it's actually time to get out of it. Even though there is still probability to make a profit, chances are the price will drop. Trader may be enjoying some profit for very short period of time. But very soon he finds out that market goes against him.
Why do they do that? People tend to forget any rational thinking when they see the price is dynamically growing. They think that if they don't buy when it rising so fast they will miss out on profit. Such traders rush into the market to get losses. These traders actually make the price volatile at the top. How to avoid this mistake? There are three simple rules.
1. Never buy if your trading system does not give you a signal.
2. Buy only if price breaks through the resistance level.
3. Always remember that when you are buying there is always someone who is selling the currency pair.
Mistake #2 Selling at the bottom.
This mistake is similar to the previous one. It mirrors buying at the top mistake. Trader sells when he sees the tumbling price just to find out that market reverses against him. The cure for this mistake is similar to the previous one.
1. Never sell if your system does not give a signal and all support levels are broken and there is no reason for the price further to go down.
2. Sell only if you see that major support level has been broken.
3. Always remember that for your short transaction there is always a long transaction for that currency pair.
Mistake #3 Selling the currency pair in uptrend.
Very often you can see how a trader sells the pair in a correction movement of the intensive uptrend. They think that a pair lost its momentum upwards and go short with it. But usually the currency pair that was in a strong upward trend after some correction or consolidation period proceeds to the upward movement forcing such traders to lose money. You still can trade corrections but it is much more risky than if you trade along the trend. Follow these 3 rules to avoid this mistake.
1. Do not take a short position when a pair was in a strong uptrend.
Most likely the correction will be very small.
2. Use a breakout strategy to enter the market.
3. The longer the ranging market the higher the probability of price to continue upward movement breaking the resistance of the range.
Mistake #4 Buying in downtrend.
This mistake is similar to a previous on. It mirrors the selling in uptrend. Usually strong downtrend getts into consolidation phase. Trader decides that trend is over and buys a currency pair just to find out that trend went further down. He can enjoy some profit during a correction phase. However correction is very short in strong downtrend. Use these 3 methods to avoid this mistake.
1. Don't take a long position in a strong downtrend. Price correction will be very small.
2. Use breakout strategy to find when price brakes out of a consolidation phase.
3. The longer the consolidation phase the more likely strong downwards movement of price will continue after the breakout.
Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trading Forex.

The Key to Success in the Forex Currency Exchange

The forex currency exchange can be overwhelming for a newcomer as well as a seasoned trader. The market is anything but constant. There is however a staggering 3 trillion dollars traded each day, so there is a lot of money to get your hands on. Thanks to the boon of the internet, anyone with a computer, a stable internet connection, and a little bit of start up capital can take part. It's recommended that you have one more thing, however.
As I said, the forex currency exchange is a dynamic and ever changing market. It's just common sense that if you truly want to be a profitable success in this market, you've got to be able to stay on top of that market at every hour of every day as sometimes the most profitable trading opportunities present themselves while you're fast asleep.
This is where automated forex trading software comes in. This is software which you use in combination with your campaign as a more accurate and safer way to trade in the forex currency exchange. Basically your program constantly analyzes and watches over the market for you. It senses when the market is about to trade or a trend is about to form either for you, against you, or in an untapped area.
Using complex mathematical algorithms these programs collect and process every aspect of the forex currency exchange market's data, trends and changes, past and present, to give you a tested and reliable prediction of where the market is about to go. There is a great deal of less human error involved this way, as well, and honestly if you want the most accurate information affecting your trading, there is no substitute for trading software.
More traders are using software with their campaigns than ever before and as trading software continues to become the norm and future of the forex currency exchange, the programs continue to get more accurate and advanced to save their trader's more time, and to make them more money.
Start building your wealth and path towards financial independence today by visiting http://www.forexautotradingreviewed.com for in depth reviews on the leading and most accurate trading software available. Start earning reliable and guaranteed income today.

Best Currency Trading System - Finding the Best For Profits

Is there a single best currency trading system? The answer is no there are several, depending on your aims and risk tolerance. This article is all about finding the best ones and avoiding the bulk which lose money...
When choosing a currency trading system, you have a number that are advertised heavily which claim huge profits - but to get rid of most of them, just check the disclaimer on the track record.
If you see words hypothetical, simulated or back test this means it's NOT real trading and most are simply a back test. Avoid these systems! Anyone can make up a track record knowing the facts - but the test is making money in real time trading, where you don't know in advance what will happen.
These so called forex expert systems simply rely on clever copy and are designed to appeal to greedy and naïve traders and are not designed by successful traders. Think about it - if the systems were as good as there track records, they wouldn't be selling it for $100 to you! They would just trade themselves and make a fortune.
Finding the Best Currency trading System
Right that's the majority of trading systems out of the way, let's find the best currency trading system for you and also look at an excellent free one which has made millions. The two questions you need to think about are - what gains do you realistically want to make and what drawdown can you stand in terms of size and duration on your equity?
Generally the best automated forex treading systems with real time track records, will compound about 30 - 100% per annum and you can expect drawdown of between about 30 - 50%, on equity and an average drawdown of a few months. Keep in mind currency trading system trading is long term and there are NO systems I know of that don't drawdown for at least 2 months - that's just forex trading.
You have to stick with the system and have confidence in it, so which ever one you buy make sure you have confidence to trade it. If you do, you can trade it with discipline and enjoy some great long term forex profits.
A FREE One for you to Consider
How would you like an automated forex trading system that has been used for over 20 years, was devised by a trading legend, is based on timeless logic and is simple to understand and execute?
Well if you do, look at the 4 Week Rule by Richard Donchian.
We have written in depth articles on this so look them up. This is a simple one rule system and doesn't even need a computer - you just follow the rule.
The above system has made countless millions for traders all around the world, is still used today and it works. Even trading legends such as Richard Dennis were fans of it so if you use it, you know you're in good company.
Do the Following and Enjoy Big Long Term Profits
To find the best currency trading system, disregard the simulations, go for real time track record and check growth to drawdown. Once you have chosen the system for your forex trading strategy make sure you understand it, can have confidence in it. If you do this and judge it over the long term, you will be rewarded with great profits in around 30 minutes a day or less and enjoy currency trading success.
FREE ESSENTIAL FOREX TRADING PDF's!
For 2 essential free trading Pdf's and more essential FREE Novice Currency Trading Education and an exclusive RISK FREE Currency trading Course visit our website.

Forex Day Trading - A 100% Way to Lose Your Money Here's Why

Forex day trading is popular but it's one of the best ways to lose your money. Try and find a day trader with a track record of real gains (not a simulation in hindsight) and you won't find one. Why? Because:
It doesn't work.
You will see numerous e-books and forex trading systems advertised all with great copy and a track record - but check the track record disclaimer and you will see that there all done in hindsight.
Here is a standard CFTC disclaimer:
"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 show".
Well could you make a profit knowing the closing prices?
Of course you could and so could a child.
The reality though is we don't have the benefit of trading backwards when we trade forex, we have to trade not knowing the prices and that's a little more difficult.
So why doesn't forex day trading work?
Quite simply - all short term volatility is random.
Because of this, support and resistance levels are meaningless and you can never get the odds on your side.
If you think about this its common sense - you have millions of traders all trading with different viewpoints and methods and to say that you can predict what they will do in a few hours, or a day session is ridiculous.
So why are forex day trading systems so popular?
There mostly promoted by marketing companies NOT traders - it makes a good story but so to does Harry Potter but that's all it is a story.
Forex day trading appeals to lazy or naive traders, who think forex trading is simply a walk in the park - no effort required, spend a few hundred bucks and get rich!
Well forex trading is not that easy and you wouldn't expect it to be with the huge rewards that can be made.
If you want to trade successfully then you need to get the odds on your side and that means trading longer term meaningful data - not random data where you may as well flip a coin.
Trading success is based upon a logical method that takes into account the odds.
To be successful in life (not just forex trading) accept the fact that no one else will make you rich. Sure you can take advice - but never follow anyone blindly, you need to understand what you are doing and make sure you are trading the odds!
If you don't, you won't have confidence. If you don't have that, you will never make money, as you won't have the discipline to follow your method through inevitable losing periods, to achieve long term currency trading success.
So the next time you see a day trading system with a simulated track record - think twice before investing in it.
If it has a real time track record over a few years of profits by all means consider it - but if you find one let me know, I have been looking for 25 years and not found one!
If you want trade successfully forget forex day trading, trade the odds and that means using longer term data.
NEW! FREE 2 x CRITICAL TRADER PDFS - FOR FOREX TRADING SUCCESS
On all aspects of becoming a profitable trader including: Free critical trader PDFS, and more FREE Forex Education visit our website at: http://www.learncurrencytradingonline.com/index.html

Beginner Guide to Basic Forex Trading

Pick Up Forex Trading Now!
The name Forex, come from Foreign Exchange Market, which also referred as "Forex" or "FX" in short. Basically it involves a pair of currency. Meaning you buy a currency in exchange to another country currency.
For example if you visit Hong Kong from US. What would you do? Go to the money changer, use your US dollar to exchange for Hong Kong dollar right? By doing so you are actually selling your US dollar and buying Hong Kong dollar so that you can spend in Hong Kong. So if you return to US, you too will exchange your Hong Kong dollar to US dollar. Now you are buying back US dollar and selling your Hong Kong dollar. By now I hope you get the idea of basic currency trading.
So why trade Forex, you may ask? Well Forex is a 24 hours market and it is one of the largest markets in the world in term of daily volume. It trade volume range from 1 to 3 trillion USD every day. This is 6 to 8 times higher than the volume of the stock market in the world. It provides a lot of liquidity in the market. The large volume of participants also reduces opportunities for insider trading. To put thing to simple, there has NEVER been a case of complete currency collapse in a developed country.
For Forex trading is there is no restriction of short selling. Meaning you can buy (Long) or sell (Short). This mean you can easily trade in a rising or falling market.
Another great advantage of Forex Trading is leverage. Typically leverage increases your buying power. With this you are able to increase your total return on investment with less cash outlay. Of course increasing leverage increase risk too. However if you know how to manage your risk, this should not be a problem. Example if you have only $1000 dollar cash in a forex margin account, and a 200: 1 leverage, you can trade up to $200,000 in notional value.
Here is only some of the basic information on Forex Trading. To pick up forex trading, you may search more information in the internet or buy some books on Forex to read. Understand the basic foundation of Forex is a must!
Yeo Kian Poh
Pick up forex trading at http://pickupforextrading.com Eric Yeo is the creator of Pick Up Forex Trading

How Currency Trading Can Make You A Fortune

Trading the currency market has become the latest hot trend in making money from home. It is by far the easiest way to make money from home, and also the most fun. The forex market gives many opportunities for people who do not have much time, people who do not want to work too hard, or just people who like to make a good profit but not sit in front of the computer for ten hours every day.
The first and most important advantage of forex trading is its ease. A good currency trading system can do all the job for you. All you have to do is follow the system's instructions, and you are almost guaranteed to make a profit. Your job on the forex market is pushing buttons and typing numbers. You really don't have to do anything more than that. Unlike ghost writing, internet marketing, or any other home business, you don't have to type all day and hope for clients. In forex trading, the entire world is your client.
Another benefit of trading the currency market is the small capital required to start. All you need to start a good forex trading business is a computer, an internet connection, a decent forex broker, and a good forex trading system. Besides that you may need about $1000 or even less in trading balance to open good enough trades to make good money. Except for these small requirements, you are all set to go.
Choosing your own work hours is a great benefit of currency trading. The forex market is open six days a week, twenty four hours a day. This means you can choose whether you want to trade in the morning, after lunch, or late at night. Nothing is limiting you, and you are free to make money on any part of the day.
The biggest advantage of forex trading is perhaps the times you can profit. You can profit on any time. Profitable possibilities are always found on the currency market. It does not matter whether the economy is booming or in recession, you can make your daily salary of thousands of dollars without worries about what will happen to the economy around you.
To start your trading business, you need to get a good forex broker and the best forex trading system in the market. When you've got those, you are ready to profit.
About the author:
Nadav Snir is a stock market trader and forex trader. You can find more information about forex trading, forex brokers, and forex trading systems at his site at http://Great-Info-Products.com/Forex/index.html.

Have a Handle on Online Foreign Currency Trading

Read through to grasp about online forex trading. Online Forex trading is an area that ensures a high margin of profit. It is also one of the most risky businesses and there is a chance to loose more when ventured without proper training and knowledge. This article discusses the pros and cons of online forex trading and about the essential armory needed to be a good trader.
E-Learning
The easiest and probably the best way to learn about this trade is to complete an online course. These courses are designed in such a way that it gives a foolproof knowledge to the student. The course has many demonstrations, and tutorials that are potent enough to impart the knowledge. The student can also peruse the Internet to see the numerous websites that exhibit the foreign currency standings in a real time basis. The students can also register into one of the numerous websites available to get hands on experience about what is it like.The topics covered include margins, leveraging, position trading, bids, swing trading, types of orders and day trading. The key to forex trading is to have a good knowledge on all the terminologies related to it. The terminology or the "forex-vocabulary" makes the person potent enough to gain adequate information about the reports of the currency fluctuations and this in turn is the key to make profit. The courses are also designed in such a way that the person is taught about the psychology of trading and also about how to forecast the prospects of the currency.
CD-ROMS and Textbooks
It is always better to get a book that has a good reputation. It can be a reference material throughout the trading career. There are CD_ROMS and books that in addition to the forex also teach about the taxing and the fiscal policies that come in handy to the trader while building the business. The books and the CD's invariably teach about the secrets and the keys to success
Current Affairs
The currency values greatly depend upon the affairs of the countries. The value goes down when something happens that affects the economy of the country. The instances of wars, calamities, political changes and strikes can all affect the currency standings. The trader must at least be up to date about the happenings in the countries whose currencies he trades with. An experienced trader can relate even a slight instance to the currency value. Thus keeping track of the current affairs makes a trader seasoned enough to get hold of the prospects of the currency and the current affairs. This makes the trader potent enough to make swift moves to buy or sell a particular currency adding to his benefit.
Teachers
The role of teachers should not be neglected. Teachers are the best persons to impart the lessons in the books and other sources to the people in such a way that the students gain a good hold of the subject. Teachers here need not be "classical" teachers but can just be mentors or guides. The websites may have information about many experts who can be potential mentors or guides.
Come to my blog get the best of the best Online Forex Currency Trading Strategies.
Ivan is the developer of Forex Million Dollar, the blog which can find forex trading info.

Managing Your Forex Trading

It is an extremely important discipline - that of happily accepting losses. To many new (and some not so new) traders, the thought of a losing trade is simply not acceptable.
The reality of trading is of course a mixture of both wins and losses with success being dictated by the ratio of those wins and losses, and it is a complicated ratio. I often see it defined as "you must aim for a win to loss ratio of at least 2:1". Well that's nice work if you can get it. The markets rarely allow us the luxury of employing anything as straight forward as that.
The real ratio in most cases is to be able - in general - to make more wins than losses and for those wins to be greater in value then the losses.
Yes it would be nice to only enter those trades that will definitely give us at least a 2:1 winning ratio but I have yet to hear of any trader that can consistently do this. The market just does not operate in that certain way. Because of this, a vital part of any trading method must include money management.
By employing a well developed strategy of money management, it helps to even out the wins and losses thereby allowing you to easily accept the losses that will most certainly be coming your way.
If each time that you trade, your very survival depends upon a win, then you will not like the prospect of a losing trade, but rest assured that sooner or later - and likely sooner - you will get one whether you like it or not.
Many new traders look for, or try to develop, strategies that rarely if ever lose. This is a fruitless exercise. One of the things that has to be accepted by traders is that no matter how successful the method that you follow, there will still be losing trades.
As an example, you may have a system that has a win to loss ratio of 4:1 (which would be extremely unusual). In our example, from 100 trades there will be 80 winning trades and 20 losing trades.
You wins and losses are a percentage and this percentace is somewhat random in order. If you were unfortunate, you could find that the next 20 trades that you execute all lose. When trading too large a portion of your account it is only too easy to lose all of your money on a "losing streak" so that you never get to the "winning Streak".
It is unusual to have long runs of losses with a good trading system, but it can happen and yet still maintain the same win to loss ratio. If you learn to employ a strict system of money management, together with a trading method that in general gives you more wins than losses and bigger profits than losses on those wins then you will be able to smile at your losses, because you will know that over time, you will still be profitable.
Being able to smile at your losses in the same way that you are able to smile at your profitable trades is an essential emotional quality, and it is one that can only be developed by employing strict money management.
If you found this article of interest you can read more at Martin Bottomley's website http://www.stealthforex.com
In addition to article writing he is a trading system developer.

Using Technical Analysis To Profit In Forex Trading

There are two basic ways to approach the analysis of the FOREX markets: Technical analysis and Fundamental Analysis. Someone who is using a fundamental analytical approach will look at the current economic climate, political events, a variety of economic indicators, and so on to try to predict currency moves. What we will examine is technical analysis, or the use of historical price patterns in economic data to predict future moves in the FOREX. We will also look at the tools used for technical analysis.
The three major assumptions underlying technical analysis are:
1 - All market forces are taken into account in price movement. Many things can affect the price of a currency. Some of these factors would be economic conditions, political happenings, natural disasters, seasonal supply and demand and even the weather. Technical analysis, however, does not attempt to take these into account because the market has already done that. Rather, a technical analyst is concerned with the actual movements of the market, not with the reasons for the movement.
2 - There are observable trends in currency prices movements. There are known market patterns that follow predictable paths.
3 - There are historical trends in price movements. Over a century of FOREX data collection has shown that human nature interacts with events in predictable ways. Thus, when circumstances are similar in the market, the same patterns will show up.
Technical Analysis: Is It Necessary?
Day traders in the FOREX usually use technical analysis most heavily, though they may supplement it with fundamental analysis. Technical analysis has the huge advantage of being applicable to a wide range of currencies and markets simultaneously. To properly do fundamental analysis requires a good knowledge of events and conditions in a certain country so the number of markets any particular trader can analyze by the fundamental approach is necessarily limited.
Technical analysis can seem so complicated to the beginner that they may be tempted to wonder if it is really needed. The truth is that all investing requires a strategy and technical analysis is a proven way to set strategy by predicting FOREX movements. Of course, no strategy or method is always successful, which is one reason many technical traders also do some fundamental analysis as a supplement.
USing Price Charts In Technical Analysis
Charts lie at the heart of technical analysis and you will find a good selection available from any online FOREX broker. Not only are the charts updated constantly, real time, but they can be viewed in a variety of ways. You can see movement over various periods of time, broken down into different time scales, and with various analytical overlays applied. With the software provided you can see the broad picture over a long period or zoom into the most minute detail. The basic software is free from most online Forex brokers but there may be a fee for the more professional, in-depth, information.
Sometimes the charts are a built-in part of the broker's software package. Alternately, they may be available on the broker's website.
Practice, or demo, accounts are available from most brokers on their website. These allow you to use the charts and tools of that particular software to learn the techniques of following charts, noticing and learning about trends and studying market movements. Nothing can substitute for this valuable period of becoming intimately familiar with charts and market behavior.
Get the latest Forex Trading Education tips, tools, and techniques at Forex Examiner. Start to trade profitably with our no cost Forex trading report. Get your complimentary copy here http://www.ForexExaminer.com today.

The Wealthy Barber - Everyone's Common-Sense Guide to Becoming Financially Independent

"The Wealthy Barber: Everyone's Common-Sense Guide to Becoming Financially Independent" by David Chilton is an enjoyable read that introduces basic personal-finance habits that can lead to wealth if practiced and implemented as taught.
The lessons are taught in story fashion by a "wealthy barber" named Roy to a few disciples over a few weeks of visits. The lessons are basic, but that does not mean they are not important. In fact, for many people, these basics are all they will need to better their finances while preparing for a better financial future. This book will not prepare you to become the next Warren Buffet, nor will you be a market genius. There are many more things you can learn on this subject as well, but this book is a nice little primer. Some of the dialog between the characters is a bit corny, if not irritating, but then you can also look at it and laugh at Chilton's use of light humor to teach important topics.
As I mentioned, the lessons are basic, but they are sound. The strategy of paying yourself at least ten percent of your pay first is not new, and is taught in many ways by many people. That does not make it less important, and most people would be better off if they implemented it. I also liked that there was discussion on wills, life insurance, and responsibility. Pointing out that some people do not need certain types of insurance is as important as pointing out that some people do.
We have all heard that social security may not be around in the future. And those receiving only social security now are barely making due. It is in all of our best interests to plan for retirement. The lessons taught in this book serve as a good reminder of things we should be doing and looking at, and hopefully will encourage many people to start planning and seek out more information on this important topic.
While "The Wealthy Barber" won't teach you the path toward the Forbes 400 list, it does provide some excellent basic advice on personal finance. Considering the debt that many have, combined with the lack of savings, compounded by the dim outlook for social security, following the advice of this simple little book could make a huge difference in many people's financial futures. I recommend it highly for anyone that needs a head start on planning for their future. I also recommend it for those that want a quick enjoyable read on some basic financial strategies to motivate you to learn more.
Alain Burrese, J.D. is a mediator/attorney with Bennett Law Office P.C. and an author/speaker through his own company Burrese Enterprises Inc. He writes and speaks about a variety of topics focusing on the business areas of negotiation and success principles as well as self-defense and safety topics. He is the author of Hard-Won Wisdom From the School of Hard Knocks, several instructional dvds, and numerous articles. You can find out more about Alain Burrese at his websites http://www.burrese.com or http://www.bennettlawofficepc.com

The Basics of Trading Forex

Trading forex is a huge business where over three trillion dollars are traded each day. This is a huge market for people to get into. The problem is that most people that get involved end up losing money. There is a small minority of people that end up making all the profits. The reason is that they have the underlining strategies of this business.
The first thing you need to do is set a simple rule for yourself. You're not going to be led down the road of emotion, speculation and feelings with trading. This is the fastest way to lose all your money because it turns a business into a game of roulette. Emotion is the enemy in this business. The proper way to conduct yourself is in a cold calculated way. You should be able to look at numbers and come up with risk and probability of profit. These are all numbers and you make your moves with numbers, not emotions.
Most people that give up think that big banks and huge corporations are the ones that are making all the money. They do make a lot of money, but it comes from the basic fact that they have a lot of money to trade with. There returns aren't that good because they have to play it extremely safe. It's the little guys in this business that answer to no one that make excellent returns.
What separates the little guy that makes money from the little guy that loses money? When the little guy goes to sleep, the market and trades are still being watched. The forex market never closes, so a lot of new people just leave their money on the table while they sleep. If the currency takes a plunge, so does their bank account. It's important to have automated software like Forex Killer running on your computer monitoring market and your trades. They work automatically, so it can automatically sell before you lose any money, and it can also buy if you instruct it to. It is a very valuable tool to help you since you can't watch the market every minute of the day.
These are the basics of forex trading. This is what divides the successful from the failures. You need to make cold calculated moves and you have to have a way to monitor the market 24/7 because you can't do it alone.
For more information on the Forex Killer software, check out Forex Charting Software

Forex Trading Tip

Forex trading can be a dangerous activity for gamblers. There is a difference between a gambler and an investor. A gambler who trades has no qualms about over leveraging his/her account, going all in, possibly risking his/her entire account for a shot at doubling the account on one single trade. Many Forex brokerages have competitions between their members and whichever trader ends the trading month with the highest percentage gain to his/her account is deemed the winner. Immediately, the first day after the competition begins, you notice many traders' accounts are up as high as 300% or 400% just after one day of trading. These are the type who over leverage their accounts and risk everything on one trade. These are the ones who get very lucky on one trade. Then you have those who are at the very bottom of the list for percentage gain on day #1 of trading with a 100% loss to their account having lost all their capital on one trade. These are the traders who used the same strategy as those at the top of the list, yet they simply weren't as lucky.
To succeed over the long-term as a Forex trader, one must implement appropriate strategies and disciplines to protect your trading account. The first thing I am sure to be careful of when trading is to never risk more than 2% to 3% of my account balance on any single trade. The second thing I do is ensure that I leverage at 5:1 leverage. Depending on the trading system, 10:1 leverage is acceptable but never higher than this. The last thing I tend to do in any trade is to aim for at least double what my stop loss is as a profit target. Trading in this manner drastically reduces the chances of blowing out your account on one trade but allows you to stay in the game and continue to trade and experience steady, regular growth and compounding to your trading account. It also provides that you only need to win at least 50% of your trades to still have a profit. For me, these few trading techniques are the logical, intelligent way to trade any system you may be using.
I personally use a terrific trading system for swing trading called the G7. I purchased this e-book from James DeWet, a professional Forex trader, who markets and sells his e-book online. I began trading this system in March 2008. Using this system to trade the currency market I have experienced a 57% return on my account up to the end of July 2008, 5 months' time. I find the trading system very well-explained in his e-book. Daily reports and training videos are available on his website to assist with the learning curve using the system. If anyone is interested in trading currency for a living, this is a terrific system to use and where I have gained much of my trading knowledge from and, I feel, has assisted me in being a successful currency trader.
For forex analysis and other Forex related information, visit my blog at http://www.fxbuff.com
John Dixson
http://www.fxbuff.com