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.
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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

Fibonacci Retracements - What Are They and Why Do They Work?

Markets never go straight up or straight down for very long. They go up in sections, or steps. Take a look at any swing chart if you doubt this. There is a move forward, then a counter move backwards, against the trend. Determining where these counter moves will stop is where the Fibonacci retracement levels are useful.
Whether you are looking at a macro or micro view of the market, i.e. weekly, daily, or 5-minute chart, you will find these retracements. They exist on all levels of the market viewpoints. Obviously the strongest levels will be found on the higher time frames as they will give you the bigger picture. However, even looking at a 5 minute chart you can notice that the market goes forward, then reacts, like a stair case.
So, how do we apply these Fibonacci retracements to our chart?
Most charting packages, and charting software that brokers offer comes with this indicator so all the calculations will be done for you. What you do is take a LOW point on the chart, and measure the range up to the next HIGH, or swing as they are called. Vice versa for a downward move. This is the range.
So the market has made a move up and is now making a counter-trend move down. We look at this range and calculate the Fibonacci levels as follows: 23.6%, 38.20%, 50%, 61.8% and 76.4%. These are the most commonly used levels, as well as projections of these levels above/below the reference range: 150%, 161.8%, 261.8%, etc. Once these levels are in place on your chart, watch these levels when the price retraces to them.
The most common retracement level is the Golden Ratio, or 61.8%. Many retracements against the trend will stop at this level. Then, if this does happen, my tip is to next watch the 161.8% level. In my experience, a 61.8% Fibonacci retracement will then go on to find resistance again at 161.8%. Good profits can be made just by being aware of these levels, and placing your trades according to them.
For a great resource and application of this method that will consistently produce good profits for you, please click here.
Jeremy Gard is a Futures and Currency trader and works from his home on the Gold Coast of Australia.

How to Get Good Forex Brokers and Avoid Bad Ones

The Spot currency market (FOREX) is unregulated. It does not have a governing body like the Security and Exchange Commission for the stock market watching over it. So there will be bad brokers. A bad broker will shade pips, take the other side of your order, etc. In general, they will definitely make it harder for you to make money.
Bad FOREX brokers is one of the main problems FOREX brokers experience. Some Brokers place spreads as large as 500 pips or more. Some stop their clients from placing favourable trades and blame it on technical hitches. Watch out!!!
How to Tell If a Broker Is Bad. The obvious to know if a FOREX broker is bad is to do a web search on the brokers. Know what people are saying about the. If there is no comment about them, go to their website. Check the leverage they offer. Is it 500:1 leverage or more? Be careful because the higher the leverage the more dangerous it is for you. Unscrupulous brokers make big money off of new traders blowing their accounts (as they take the other side of every trade).Though a big leverage can help you make more money, It is more dangerous.
How to Choose A good FOREX broker
There are always complaints that Brokers cheat on the traders and wants them to lose. It is true some trader do this but some a very good.
To know a good broker
1) Check the leverage they offer. If it is small, then it is good
2) Check their spread for each currency pair
3) Check what people say about them. Search it out!!
Read More below
If you the above information was useful you can read more free informations on forex, how to get good brokers, avoid bad ones and how to trade without losing at http://weirdforex.blogspot.com

Forex Trading Education - The London Open Checklist

A thorough Forex trading education must include an understanding of the effect market timings can have on trading and liquidity.
One of the most active periods of the day is from the time the London market opens. Often around that time good trading opportunities will appear.
As part of your Forex trading education, learn to analyze market conditions around London open and begin to recognize good setups.
The following questionnaire and checklist will help.
London Open Preparation
About 15 to 30 minutes before London open check the answers to these questions:

Are the MACD indicators on the 4 hour and 1 hour charts in agreement? If they are not going in the same direction be very careful!

Is there MACD divergence on the 4 hour, 1 hour, or 15 minute chart? Look for other clues to confirm that price may go in the direction of MACD divergence.

On the 4 hour chart what is the overall trend?

Do a Fibonacci calculation on the last swing high and low and see if price is pulling back to an optimum retracement level or whether it is reaching a key extension level.

Note price in relation to the 200 EMA (Exponential Moving Average) on the 4 hour, 1 hour and 15 minute charts. Is price bucking the trend? In other words, is price above the 200 EMA on the 4 hour and 1 hour chart but below it on the 15 minute? Then be prepared for price to go long at some stage. (Draw the opposite conclusion if price is below the 200 EMA on the 4 hour and 1 hour chart but above it on the 15 minute chart.)

Are any Economic Reports imminent?

As the candle closes on the 15 minute chart at London open, do you see any distinctive candle patterns such as tweezers, or doji's or hammers indicating price exhaustion?

If I entered a trade right now in a particular direction, what would be the risk and where would I place my stop?

Within a few minutes of London open, if you see a number of factors converging from the analysis above, make a decision one way or the other:

• trade
• wait for clearer signals or a better entry point

Carrying out an analysis in this way each day at London open will do much to increase your Forex trading education.
It will make you aware of what is happening on the charts and in the marketplace and help you to arrive at conclusions.
There is no magic formula involved with Forex trading education. Put simply, successful Forex trading is the result of years of hard work, study, practice, and experience often gained through painful trading scenarios.
Eventually the newer trader learns mental discipline, and how to control the emotions - probably the biggest part of a Forex trading education.
Practice a procedure like the one above day after day and begin to see some progress as you get nearer the time you make profits consistently from currency trading.
For a free pivot point calculator, Fibonacci calculator and the best free economic calendars click here:
http://www.vitalstop.com/Forex/tools.html
For a free candle & chart pattern recognition reference tool click here:
http://www.vitalstop.com/Forex/Candle-Chart-Patterns
See how to use trendlines to get an optimum trade entry point:
http://www.vitalstop.com/Forex/trendline.html

Gaining the Skills to Forecast Forex Rates

The forex market is a very complicated one and it takes a practiced eye to analyze, interpret and understand the many areas and mountains of data that one should analyze to accurately predict forex market trends. But at the same time, there are thousands of forex traders and brokers who do exactly this every day. Not all of them are successful - some want to get in for the "quick financial kill" without doing as much analysis of the data that should be done, and they lose their shirt on a very regular basis.
Generally speaking, there are two basic trains of thought on the best way to forecast the forex market and forex rates. The most successful forex traders use a combination of both methods, but the two methods are the technical analysis and the fundamental analysis.
The technical analysis approach looks at past forex market action and tries to extrapolate that data to determine what will happen in the future. From a human perspective, this works very accurately, since how you reacted to a certain situation in the past is pretty much the same as how you would react to it in the future. The forex market is very similar in this respect, since much of the forex market is dictated by human factors, and how people reacted to something in the past is generally a very good indicator of how they will react to something in the future. Not always, but generally speaking.
By contrast, using the fundamental analysis approach to predict the forex market looks at things a bit more in depth. At the same time, it is really looking at very similar data in a different way, so this method can be as accurate as the technical approach. Via fundamental analysis, many different factors are considered such as political events, the amount of government involvement in the different countries, and what is happening socially and economically in the country at the current time.
A forex trader who is very good at fundamental analysis might forecast that the forex market will drop because his research shows that the government is currently very unstable, or it may increase if a popular new leader was just elected into office. Basically, anything that happens within the country that has an impact on that nation's economy will likely also have an impact on the foreign currency exchange rates.
As stated earlier, the most successful forex traders will use a combination of these two methods to attempt to predict how the forex market will fare. But one of the problems that is faced by all traders is that having this kind of in-depth knowledge of so many different factors for several different countries at the same time is a daunting task. The top forex traders have largely turned to technology, using tools that can analyze these mountains of data to produce summaries that trading decisions can be based on.
This use of technology allows them to look at many more factors, make decisions more quickly, and be in the right place at the right time with their buy or sell decisions. This does not mean they always have successful trades, but for the most part, the use of tools and technology allows them to make many more profitable trades than losing ones.
For more insights and additional information about Forex Rates as well as getting a discount on one of the most advanced Forex technical tools available today, please visit our web site at http://www.forexcurrencysystems.com

Forex Blogs - Separating the Wheat From the Chaff

There are a lot of Forex blogs out on the web, and while some of them offer really good advice, others are mostly just fluff with an affiliate link. That doesn't mean that you shouldn't search high and low for a good Forex blog.
A truly quality Forex based blog online to help teach you the ropes of the market, but you do want to make sure that you're following and absorbing the advice of a good Forex blog that is being posted to by an actual trader who knows how the Forex works.
Don't take the advice of someone who is only into theory and can't trade for a profit themselves.
There are several tell tale signs you can look for when looking over a Forex blog that can help you determine whether or not that blog is one you should be listening to, or one that you should actually ignore completely without a second thought.
You Should:
1) Look for a blog that is posted to by someone who actually trades the Forex. Would you learn locksmithing from anyone other than a locksmith? Then why would you try to learn Forex from anyone other than an actual trader? Theory doesn't count. If the person doesn't actively trade, don't take their advice.
2) Look for a blog that gives actual useful information. I'm not talking about a step by step guide to the person's trading system, but each post should provide some information or advice that helps you learn a little bit more than when you first showed up.
3) Learn some about the Forex market yourself. There's enough free information from reliable authority sites that you should be able to learn about all the basics of how the Forex market and Forex trading works, and that will help you spot a phony from a mile away.
4) If anything sounds really fishy, ignore that "expert" and look elsewhere.
Using this advice as a guide should help you to be able to determine whether a Forex blog has any true worth to your ongoing Forex education or not. If not, drop it like a bad habit and don't return.
Your objective is to get good at trading, not to keep skimming blogs to see if someone else is beginning to get it.
When you find a Forex blog that gives good solid information and really strives to help you learn about the market, then read all you can and you'll be on your way to being a better trader.
And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/
From Jason Fielder: Founder, ForexImpact.com

Forex - An International Online Currency Exchange Amazing World Full of Secrets

Forex is an international online currency exchange that was established in 1971. It is now the premier foreign currency exchange market in the world, with an average daily trading volume reaching as high as one and a half trillion. Forex is a true, established 24-hour market, which offers a major advantage over stock and futures trading. Forex trading begins each day in Sydney, then moves around the globe to Tokyo, London, and finally New York. Forex is a great way to make quick money online. You just have to know the basic skills for trading and you will be on your way to making money at home.
Forex is currently one of the most popular trading industries on the market, which sometimes forex is known as FX, or currency exchange. Forex involves the process of selling pairs of currencies, or else buying pairs of currencies in units. FOREX is a market where the value of individual currencies from all over the world are traded. Forex is an international market that buys and sells currencies of the world; the mechanisms of the marketplace are very similar to that of other markets such as the stock market. The purpose is to buy low and sell high to maximize profits.
Forex is no different than anything else, the few people "in the know" make money and the rest are hung out to dry. Some public investors jump into Forex as they see the opportunity like the bright lights of the Vegas strip. Forex is online currency trading or online foreign exchange. FOREX is huge business. In our opinion, It's the mamma of all industries.
FOREX is a highly profitable business which doesn't depend on time, place or political situation in your country. The main FOREX advantage is that you perform operations using computer from any part of the world 24 hours per day 5 days per week. Forex is also dictated at times by speculation of dealers, brokers, or others. What they predict becomes a major influence on forex. Forex is the largest and most liquid market in the world where around three trillion dollars exchange take place every day. That?s an enormous money flow.
Forex is here to walk you through the steps to set up an account and start making money right now on the foreign exchange market. Forex is foreign exchange market where large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions buy or sell one currency for another. Buyers seek to buy at the lowest vailable price and sellers seek to sell at the highest available price. Forex is the worldwide market for buying and selling currencies. These markets were developed to cater for the supply and demand of different currencies by governments, companies and individuals - for international trade and assisting importers and exporters.
Forex is known for its ability to adapt to the strong demand of real-time information as markets move instantaneously. The robustness of its platform is also key to its ability to answer heavy data and information traffic. Forex is made up of 5000 trading institutions like international banks, commercial companies, government banks and brokers for all types of foreign currency exchange. Forex is not affected by any one bear market. Forex traders buy and sell foreign currency pairs from around the world, simultaneously buying one and selling the other.
For more information on Forex Currency Trading visit our site: All You Need to Know About Forex Trading.

Learn to Trade Forex Online

I'm going to show you how to learn to trade forex online. This is a very busy market with a lot of money moving around each day. This market used to be only made up of banks and large firms, but because of the expansion of the internet, individuals have the ability to enter and trade on the market as well. The problem that is faced by many of these individuals is lack of knowledge and instinct when it comes to trading. There is a rather large learning curve and getting past it can be tough. I'll explain some of the lessons I learned that helped me get me to where I am today.
You need to find a good broker. If you've searched the net, you've probably noticed they're a dime a dozen. It's so easy to setup a website these days, it's really hard to tell the difference between a reputable business and something setup in a persons basement. The last thing you want to do is send your money to a broker that offers poor service or is an outright scam. You need to do research and I think using forex forums can really help you find a good service.
You're also going to have to develop a skill of controlling your emotions. We are emotional creatures and they tend to come out at the most inappropriate times. You do not want to get emotion involved in a trade because it just clouds your mind and complicates simple decision making.
You should also get your hands on Forex Supreme to increase your trading ability and profitability. You don't have to worry about emotionally trading when you can get software to do it on your behalf.
Learn more at Forex Supreme.

Online Trading : Three Ways To Make More Money Online

Many people today are rushing to get started in the investment game by opening online trading accounts with the largest brokers in the USA today. However, many people are also losing money each day due to either a lack of trading knowledge or merely having the gambling mindset when doing online trading.
This article highlights there essential strategies that you need to know in order to make more money from online trading.
1. Understand market trends
Regardless of whether you are trading commodities, forex or stocks online, you need to have a basic understanding of market trends. Financial analysts generally categorize this knowledge as fundamental analysis which deals with general factors and trends concerning the instrument and technical analysis which is an indicator of market psychology. Regardless of whatever your inclinations are, spending some time reading about these two contrasting theories will help you understand what direction the market is moving and to make money from online trading.
2. Set stop losses
One advantage of most internet trading platforms is that you can set stop losses on any trade that you do so once the share price drops below a certain level, the trading system will sell your stock for you. There are two kinds of stop losses normally and they are the trailing stop loss and the fixed stop loss. The trailing stop loss is the one that you should pay special attention to. Always focus on protecting your downside and your upside profits will be protected. Stop losses are therefore essential if you want to ensure that your profits are locked in. Remember that for stop losses to work real well, you need liquidity in that instrument as even if you have a stop loss and the market is not liquid, you would not be able to exit fast enough to avoid a loss. Making money with Online trading in this respect is the ability to cover your downside potential so as to retain your earnings.
3. Devise fast and effective online trading strategies
Most people today doing online trading are not day traders with huge amounts of time daily, nor people with huge amounts of money so they are hard pressed for time and yes they have to work unlike some people. Therefore the key to success in online trading is to either devise fast and successful trading strategies or spend time reading or attending a course. You want a trading strategy that works time and time again and that takes little time to evaluate and execute. Imagine the irony today, people are paralysed with information overload and remain unable to trade quickly and efficiently daily without spending either lots of time or losing lots of money.
Spend some time today working on learning all you can to succeed with online trading and you will start making money online with your trading platform.
Copyright © 2006 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author's information with live links only.)
Joel Teo writes on various financial topics relating to Ahwatukee Real Estate Investment. Signup for his free online Real Estate Investing newsletter today and gain access to the “Six Day Real Estate Investment Profits Course” now at http://www.realestateinvestment101.info/Ahwatukee.html

Wealth Building - Get the Vehicle and the Method Here to Make Money Fast!

If you want build wealth, you probably don't have much to start with and that's no problem, this vehicle allows you to start with small amounts and gives you a way to make money fast and best of all its simple to learn and you can get on the road to financial freedom in less than 30 minutes a day.
Before we start you must have the right mindset and that a burring desire to succeed and an acceptance of responsibility - you are responsible for your financial destiny and if you take action you can do it. Most people are afraid of trying and fail to try - don't make this mistake - you can make money fast with this method, which requires only a few hundred dollars to get started so here it is.
It's becoming a financial trader from home - Don't think you can't do this anyone can and here is an inspiring story to show you how.
In the 1980s world famous trader Richard Dennis set out to prove anyone could learn to trade if they had the right attitude and he set out to trade a group of people in 14 days to prove it could be done and this lot of people were ordinary Joe's.
An actor, a female auditor, a boy just out of school and a security guard were some of the people taught.
After 14 days he gave them trading accounts and they soon piled up 100 million in profits - so Dennis had proved anyone could do it.
Now Dennis knew that to become a financial trader you had to have a combination of learning and knowing a trading system and then applying it with confidence and discipline and he taught them how to read charts and spot formations that repeat.
Anyone can learn this - all you do is follow price action - but you must have the discipline to trade these formations and cut your losses and run the big profitable trends. In fact you can lose 70% of the time and still make money.
The real reason this business makes money is you can trade more than you have and this leverage is a key to making money fast.
For example put 500.00 with an online broker and you can trade 200 x this amount no credit checks - you're given it on opening of the account allowing you to invest 100,000.
The key of course with leverage is risk control, if you can keep cutting your losses and lock and hold the longer term trends - you can make a lot of money and build wealth.
If you have the mindset to do this and will spend some time learning how to read charts you can be a winner.
Dennis proved this and may not become as a successful as his pupils but the opportunity is there for all and you can take it if you want to. You don't need a lot of money, you don't need a college education- just a burning desire to succeed and work smart.
Do the above and you could be on the road to financial freedom in around 30 minutes each day from home - sounds good? Well you can do it - if you want to, it's as simple as that.
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 Wealth Building Course visit our website at: http://www.learncurrencytradingonline.com.

F X Trading Tips

F X trading or foreign exchange trading is a great place to earn a second income. I'm going to share with you some of my favorite tips that I have used to help me generate a good amount of quality trades that have let me make a decent sum of profit.

• Select The Right Broker For You: There are hundreds of brokers that you can use, both online and offline. Since there is an abundance of choice, this can be a difficult task. You face one particular challenge that comes with the internet and that is determining the quality of a broker business. Anyone can put up a website on the internet. You don't know if this is a large reputable business or someone running this out of their parents basement. The best place I've found to get unbiased views on brokers are at forex forums. These can be easily found with any search engine. Traders get together and talk with each other. Often the most hotly talked about topics are brokers. You'll hear everything, from the good, bad and ugly.
• The News Has Free Information: Have you ever wanted a mentor to tell you what is going to happen in the market, well, you won't really get that advice for free, but the news is the next best thing. It won't tell you what will happen in the currency market, but it will give you economic news that you can figure out how it will affect the currency market. Most economic news is released at scheduled times, typically in the morning. Basically, if the news is "good" and good for the economy it is good for currency. If it is "bad" and bad for the economy, it is bad for currency.
• High Volume Times: The best time to trade is during the high volume times. There is on simple reason for this: no manipulation. Since so many people are trading and there is so much money moving around, you won't see a big bank make monster trades that can cause currencies to go in a completely different direction. Everything typically moves with market forces at this time.

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

How To Calculate Profits In A Forex Trade

Unlike the stock, futures, or options markets, calculating profits in the foreign exchange market can be a bit more complex. This is because you have to transfer profits from the foreign currency you purchased back into your home currency.
This concept is best understood through an example. So, let's say you have 10,000 US dollars, and let's say the EURUSD is trading at 1.5000. This means that 1 euro buys you 1.5000 US dollars -- or, conversely, one US dollar buys you 0.667 euros (1 / 1.5 = 0.666). So, with your 10,000 US dollars, you are able to buy about 6,666.66 euros.
Now, let's say the EURUSD exchange rate jumps up to 1.5500 -- meaning that one euro can now buy you 1.5500 US dollars. Since the euro rose in value since you made your purchase, you can now sell your euros for more dollars than you initially purchased them with. In other words, you made a profit!
To realize your profit, all you need to do is convert the 6,666.66 euros you now have back into US dollars. Since one euro now buys you 1.5500 US dollars, you can simply multiple your quantity of euros -- 6,670 -- by the exchange rate (1.5500). The result is 10,333.33. So there you have it -- a profit of 333.33 US dollars!
Profiting By Selling a Currency (aka "Going Short")
Slightly more involved are transactions in which you go short -- in other words, in which you believe the exchange rate is going to fall. In such a scenario, what you are actually doing is borrowing the currency you believe is going to fall in value. So, let's say you borrow the equivalent of 10,000 US dollars when the EURUSD is trading at 1.5000. This means you have borrowed about 6,666.66 euros, and have used those borrowed funds to purchase 10,000 US dollars.
Now, let's assume the exchange rate falls to 1.4500, and you decide you want to exit the trade. To do this, you simply want to exchange the 10,000 US dollars you purchased back into euros at the new exchange rate. At a rate of 1.4500, your 10,000 US dollars buys you 6,896.55 euros. You now have to repay the original 6,666.66 euros you borrowed, leaving you with 229.89 euros. You then want to convert this back into US dollars -- your home currency -- which, at an exchange rate of 1.4500, amounts to 333.33. This is your profit from the trade.
As you can see, foreign exchange trades can be a bit more complex than your typical stocks or futures trade -- but if you take it step by step, you'll see it's really just a few straightforward math equations.
Simon Parth has been an active trader of currencies since 2002. He is a founding member of InformedTrades.com, a community dedicated to creating a free and comprehensive learning resource to help traders learn how to take advantage of opportunities in the world's financial markets.

Forex Robot Software Taking Over the World

Forex robot software is software where the forex trades are automatically traded without any human intervention. The software is based on highly specialized and sophisticated algorithms. The software's are designed by highly trained and experienced traders and forex managers. There are a number of these softwares available online. The minimum lot size can differ from one software to another. Many of them charge $10,000 as the minimum account size.
Some of the benefits and advantage of this type of software are:
It relieves the traders of constantly monitoring the system. The Forex software will trade and manage the account according the specific instructions and customization by the trader.
The robot software is designed to look at the short term opportunities that are present during the day for trading of the currency pairs. The software uses highly advanced algorithms to execute and place the orders.
Forex software is used by traders to diversify their portfolio including forex, stocks, mutual funds and real estate. Many existing forex managers and traders use the Forex robot software to trade a portion of their funds while trading on rest of the capital using other forex trading software.
Robot software is also for those who aren't very comfortable their own capital and would rather let someone else trade for them. It's also for those traders who can devote only part time for trading in forex. Also many financial institutions want alternative places where can invest money. For them Forex software provides the opportunity to trade in forex.
Many forex brokers also offer software to let their customers minimize their losses.Good Forex software offers the trading companies customers alternative choices.
Forex software usually trades in the major currencies of the market and not the minor currencies. The software is also managed by professional forex dealers. It also offers trading opportunities in rising and new markets. All the reporting is done in real time and the reports can be generated at any time by the customer.
Many of the Forex robot software packages also allow the customers to participate through the Individual Retirement Plan (IRA) and though certain customer retirement plan. Forex is a high risk, high gain investment.
Currency markets are extremely volatile and liquid. Traders are also allowed to take out their money as and when they require it making it one of the most liquid investments. With this type of software you would think that you may be able to take over the world with all your money but the truth is while Robot Software is good, it is not the be all and end all otherwise forex traders would rule the world.
If you would like to to see some of the best automated forex software around simply visit the site below.
For more tips and tricks on how you can make large amounts of money by trading forex, visit our Forex Software Review site where we show you the newest and hottest Forex software on the market including our Forex Tracer Review.