Forex pathfinder

Best Forex Trading Software

2014-06-16T11:24:00.000-07:00

Reasons Why You Need the Best Forex Trading Software

Do not be satisfied with the amount you are making currently on the currency trade, because you can make a bigger sum once you get the best FOREX trading software. This will make your trade decisions more informed and well researched unlike the decisions you make driven by emotions and the love for one currency more than others on the market. The best FOREX trading software allows you to watch the market with a keen eye because it will analyze all the currencies you are interested in and also forecast deals that you should watch out for. It will also allow you to watch several currencies concurrently to ensure that you do not miss any deal. Your mind cannot handle all the statistics of this market and that’s why you need a system that can base its predictions on an analysis of the past and the present situation.

One of the reasons that should prompt you to get the best FOREX trading software, the MBFX, is the fact that it suits scalpers as well as traders. The MBFX is an acronym for Massive Best Forex System. If you want to trade for the day and count your profits in the evening, this is the best FOREX trading software you can use. In addition, it can suit your long-term trade. This system is the creation of one of the old hands in the currency trade. MBFX Team CEO has been in this market for 27 years, within which he has won awards for the best trader in 1999 and also the Best FOREX Technical Analyzer in 2009 and 2010. Hence, when you get the best FOREX trading software, you will be acquiring a lot from this seasoned trader, in order to push your earnings higher. The currency market requires you to learn even as you go on with the trade.

This means that you have to get experts to give you information upfront, for assistance in choosing the stable currencies. Some of the experts charge for the training sessions and they will not give you all the secrets that have helped them in the trade. However, MBFX’s best FOREX trading software is offering more than just advice; he is giving you an automated assistant to guide you through the loopholes of highs and lows in currencies, which are the outstanding characteristics about this market. Operating the MBFX system is easy and you will have your way around it in a short while after installation. More so, this system comes with an instructional video that will assist you in installation and use to make it the best FOREX trading software for profit maximization.

You do not have to count strings of losses anymore. Get the best FOREX trading software and if you feel it does not meet your expectations, the manufacturer has a money back guarantee that has to be within 60 days after purchase. However, why should you return this piece of innovation when it can help you rake in millions? If MBFX Team managed to make money using the same system for more than two decades, you can also turn your experiences in this market for the better. But first, you need to acquire the best FOREX trading software.

People Who Say "99% of Traders Fail" Deceiving New Traders?

2014-06-12T09:09:00.000-07:00

Often, I hear people mentioning how 95% or 99% of all new traders fail. This type of misinformed information in my opinion is very misleading and damaging to the psyche of those trying to learn how to trade forex.

First the facts

Brokers inside the USA are now required by the CFTC to release the profitability rates in profitability percent, and also release the number of active traders. Although these numbers we will take a look out to prove the fallacy that 99% of trades loss money, are from the USA, we will assume that retail traders are as informed and therefore no better than traders around the world.

The true percentage of profitable traders

Oanda has almost 50,000 active traders
IBFX has 18,579 active traders
FXCM has 15,023 active traders
Gain has forex.com) has 11,344 active traders
GFT has 10,358 active traders

51% of Oanda traders were profitable in Q3. The others are far behind. GFT reports 33% and the rest are between 21% to 29%

These numbers destroy the myth that 95% or 99% of traders are not profitable.

Why this matters to those trying to learn how to trade

If you are told ahead of time that your odds of success are extremely rare, knowing that you are competing against some of the brightest minds in the word, your chances of success are greatly diminished compared to if you believed that others have succeeded and that you can too.

You can become a profitable traders, a large percentage of others have proven it and are doing it on a quarterly bases. Believe in yourself, you can do this, many others before you have.

Collectively let's change this consciences to a positive light enabling more to succeed.

Your thoughts and opinions are welcomed friends.

A Sneaky Way to Steal Someone Else's Forex Trading System

2014-05-18T05:08:00.000-07:00

Anyone who is serious about trading needs to have a Forex Trading System that is tailored to them, but there is no reason to start constructing your Forex trading system from scratch.
Why try and reinvent the wheel when you can benefit from other traders years of experience and borrow your trading system's ideas and concepts?

It's easy to do, and there are some pretty good Forex trading systems out there for you to work with. Some of them are free and some are very expensive, but the price tags don't always reflect the actual value of the Forex trading systems. But, many of these systems won't work for you, and I am not talking about out-right dishonesty here, which can be a big problem when trading. What I am talking about is your ability to effectively trade with the system that you may be considering using or buying.

You need to use a system that matches your life style and personality. If you have a day job (not trading), a Forex Trading System that requires you to stare at a screen all day wouldn't be appropriate. You would be distracted at work and miss the opportunities to make money, or even worse, you will not close a trade effectively and could lose money.

Some Forex trading systems have a potential to lose 20, 30 or 40% of your money before they are profitable. Can you handle a system that can drop your trading capital to half before making money? Or, are you prepared to have a string of 8 to 10 loses in a row before you have a winning trade? Some of the best traders in the world lose money on more than 50% of their trades. These are all important points to consider when you are creating your Forex Trading System. Choose aspects of the different systems that are out there that fit your trading style best, and then build your Forex trading system.
An excellent trading method, which was made famous by Richard Dennis and William Eckhardt and is sometimes referred to as Turtle Trading, is one of the best Forex trading systems that I know of. They get returns in excess of 20 to 100% per year using this system. But, could most traders trade their system? Not a chance! Dennis and Eckhardt also loose on over 60% of their trades.

Once you know what sort of Forex Trading System will work best for you, look at the components that make it work. Face it; if you are a new, or even a fairly serious, trader how likely are you to come up with a totally new concept? There are some very smart and wealthy traders out there. Why not use their ideas. Consider Dennis and Eckhardt's turtle trading, their system is based on a "breakout" method. I know most traders could not trade using their exact method, but they could take parts of it, such as the breakouts, to confirm a trend.

You can also use other Forex trading systems to give you an outline of what parts a system has to have for it to make money. All great Forex trading systems have these three basics:
1. Entry Rules,
2. Money Management Rules and
3. Exit Rules.
Study and learn from the Forex trading systems out there, borrow their concepts, and steal their ideas. It will put you on the track to the system that will make you a successful trader.

Best Forex Trader in World

2014-05-15T04:50:00.000-07:00

Buying a forex system from the best forex trader in the world through MBFX is the first step towards attaining financial freedom and success. The title of best forex trader in the world is well deserved owing to the trader’s reputation in the industry as a recipient of the Best Forex Technical Analyzer Award and having been voted Best Trader 1999. The well designed MBFX system is a valuable resource that is used for the purpose of predicting the rates of currencies. This makes it possible for forex traders to make trading decisions that translate into generated profits.

The MBFX system is designed to trade on behalf of the user so as to ease the trading process and make it virtually effortless. With the input of such a valuable resource that is offered by the best forex trader in the world, other traders can get the opportunity to enjoy its benefits that are highly profitable. Another major advantage of the forex system is that it constantly and continually works so as to make sure that trading processes are carried out in a timely manner. The MBFX system that is provided by the best forex trader in the world is highly beneficial for a number of reasons.

Users are able to install the system easily and are able to begin trading processes as soon as installation takes place. Even individuals who have limited knowledge about the forex trading industry are able to grasp the information that the system provides making it possible for more people to make investments and reap profits. The system is readily available from the best trader in the world and it is not necessary for people who want to use the system to have prior experience in the trading industry. The MBFX system is highly profitable for users owing to its impressive success rates that are guaranteed by the best forex trader in the world.

A quality system is a worthwhile investment and it is not advisable to simply go for the cheapest system without considering its features. A quality trading system requires people to be ready and willing to make an investment that will turn out to be profitable in the long run. While there may be some very cheap systems offered online, they compromise on quality and this is bound to cause undue frustration for the traders who use them. The best forex system available such as the MBFX system is one that is reliable, accurate, reasonably priced, efficient and ideal for specified trading needs.

With the assurance of the expertise of the best forex trader in the world, users can gain access to the quality MBFX system that offers non stop trading. More and more people are beginning to realize the importance of being involved in the forex trading industry as a way of making worthwhile investments in this type of business opportunity. The success of prospective traders depends on the type of forex system that they choose. Users can rest assured that they will enjoy the success that continues to be achieved from the best forex trader in the world by using the MBFX trading system.

Best Forex System

2014-05-13T03:11:00.001-07:00

Best Forex System

The MBFX system is the best forex system that users can buy online. This system is associated with a veteran forex trader with vast experience in the industry. Coupled with awards such as Best Trader 1999 and Best Forex Technical Analyzer 2009 and 2010, there is no doubt that this is the best resource for anyone who seeks the best forex system available. For anyone who is interest in the forex trading industry, it is important to choose a well executed forex system from a reputable trader who has ample experience and knowledge about the industry. There are a number of trading systems that exist online but not all of these can produce the required results.

Deciding on which forex system to choose depends on the level of awareness that one already has on the industry. Beginners or novice users of the system need to be able to understand the processes involved and this is possible through the best forex system that MBFX constitutes. A well designed system enables a wide range of people, regardless of how much knowledge they have about the industry, to comprehend what the best forex system entails and how to use it as well as what the system provides to users.

Foreign exchange incorporates a lot of information that can prove to be overwhelming for beginners but a good system helps them overcome this particular challenge. The best forex system is designed in a way that simplifies the processes involved so as to make it as useful as possible for all users. It should also contain reliable data and an interface that is simple enough to comprehend in the process of locating information about any transactions that take place. The forex trading industry has a lot to offer and it is an important aspect for anyone who is interested in making worthwhile investments and remaining aware of the global financial markets.

The best forex system makes it possible to access the services and products that the forex trading industry has to offer to users. The best forex trading systems are designed to cater to different needs in accordance with the requirements of people who want to get involved in foreign exchange transactions. A competent forex trader is able to effectively make use of valuable resources with the aim of establishing winning trades. Currency prices are difficult to predict and considering all the influential aspects in this regard, it is important to select qualified forex traders and efficient forex systems.

The potential for people to enjoy huge profits by actively participating in the foreign exchange industry makes it necessary to consider using a modern forex system through which profits can be generated. While most people initially consider cost as a critical factor when choosing forex system, it is important to invest in a quality system that will yield returns on the investment made in purchasing one. The best forex system suits people’s needs accordingly and offers value for money by accurately predicting the rates of currencies.

I’m so confident you will absolutely love the MBFX Signals that I’m willing to bet on it with my 60 days money-back guarantee.
If for any reason you feel my system is not for you, or you make no money with it in 60 days, just send me an e-mail , and I will send you a refund with no questions asked.
You simply cannot lose out here… Click here to grab your copy now.

Common Mistakes When Drawing Trend Lines

2014-05-11T06:01:00.002-07:00

In this article I am going to tell you about the COMMON MISTAKES traders do when drawing trend lines.

Drawing trend lines is one of the few easy techniques that really WORK. Prices respect a trend line, or break through it resulting in a massive move. Drawing good trend lines is the MOST REWARDING skill.

The problem is, as you may have already experienced, too many false breakouts. You see trend lines everywhere, however not all trend lines should be considered. You have to distinguish between STRONG and WEAK trend lines.

One good guideline is that a strong trend line should have AT LEAST THREE touching points. Trend lines with more than four touching points are MONSTER trend lines and you should be always prepared for the massive breakout!

This sophisticated software automatically draws only the strongest trend lines and recognizes the most reliable chart patterns formed by trend lines...

Chart patterns such as "Triangles, Flags and Wedges" are price formations that will provide you with consistent profits.

Before the age of computing power, the professionals used to analyze every single chart to search for chart patterns. This kind of analysis was very time consuming, but it was worth it. Now it's time to use powerful dedicated computers that will do the job for you:

Click here to get the intelligent software solution with audible alerts and receive more super tips about trading chart patterns!

How To Increase Your Success Rate in Forex Trading

2014-05-10T05:53:00.001-07:00

Do you think that to dramatically improve your success rate you have to read tons of thick books, buy expensive software and spend countless hours of learning more about Forex?

What I'm going to share with you is something very EASY to use and very POWERFUL at the same time.

Let me give you an EXAMPLE:

Imagine you trade a system that makes 50% winning trades, but another 50% are losing trades. If you increase your odds of winning by only 20%, that would make 70% winning trades and 30% losing trades.

Well, HOW TO accomplish that?

Just pick the best trending pair at the current time and simply follow the trend! I have found ONE INCREDIBLE TOOL that continuously scans the Forex market and picks the most reliable trending pairs for you.

By taking signals in the direction of a strong trend you would REDUCE UNNECESSARY LOSSES and increase the odds of winning. You need to know "how well" the market is trending to avoid very short-term trends.

STOP hunting the market for every potential trade. Pick only the best trending pairs and time frames and DO NOT take any trading signals in the choppy market (unless you know exactly what you are doing).

Successful traders keep it simple and this is the way how the pros made fortunes in the markets - by trading less and making more.

CLICK HERE To increase the profitability of any system or robot you are currently using, check out this easy and powerful ultimate solution:

FAQ About Forex Trendy

2014-05-10T05:52:00.000-07:00

After my previous email I have got many questions about the cool "Forex Trendy" software. Here are the answers to the most frequent questions.

Q: Which platform to use with this software?
A: You can use any trading platform! Yes, you can use MetaTrader 4, MetaTrader 5, TradeStation, NinjaTrader... because the software runs on dedicated computers and you only need a web browser to get the instant result online.

Q: How many currency pairs does Forex Trendy scan?
A: It scans 34 Forex pairs on 9 time frames from 1-minute to monthly. Together 34 pairs x 9 time frames = 306 charts.

Q: What method is used to determine the trend?
A: The trend reliability is determined by the "Trend Drawdown" - a method that uses no indicators, but pure price action. This method is explained in the ebook you will get in the subscription.

Q: Which configuration do I need?
A: Use the latest version of any major web browser (Internet Explorer, Firefox, Chrome, Safari, Opera...)

Q: Does it work on mobile devices?
A: Yes, it has been tested on several mobile devices and browsers.

CLICK HERE try it now:

"I really like your idea of taking only the best trending pair and even time frame. I am very impressed with such a simple and effective approach. I am not a tech guy and I am amazed how it works online without anything to install... I just log in two times a day and check for any interesting pairs."

Stephen Ross, NY

"I use this software every day together with my own system and two EAs. I execute trades only when trend drawdown is below 15% so I decreased the trade frequency, but I got two times better results. I am also interested in pattern recognition, I haven't tried it yet, but it looks amazing!"

Julien Labonne, Florida, USA

"I would highly recommend this service to anyone serious about forex trading. Another one that gives back much more than he receives. The real value for such a low price is rare in the forex industry."

Sebastian, Germany

Click Here to Join today!

The Truth About Trend Following

2014-05-07T23:11:00.001-07:00

Have you experienced times when your EA was profitable in trending market and suddenly all the profit was taken back in a series of losses? What is the reason and HOW TO AVOID IT?

Let me explain the basic principle how most Forex systems work. They are tuned up to work in a specific market condition. They often make money in a trending market, but loose money in a choppy market. It is not a problem as long as the market is trending and the system is making more money than it loses. Such a system can be profitable for several months and you would be happy with it. BUT...

PREPARE FOR THE WORST...

Market change over time. A well designed system starts with trend analysis to stay away from potentially losing trades. There are two problems of how a Forex system recognizes the trend.

PROBLEM: FALSE "STRONG TREND" INDICATION.

The system responds only to immediate price action. An explosive price movement that is usually the result of news release is tempting people to jump in and make a profit. It looks like a "strong trend", but what usually happens next is a hard fall.

To avoid falling into this trap, check for the SOLUTION to find a REAL trend:

SECOND PROBLEM: TREND RELIABILITY

Most systems use various indicators to determine the trend. Actually, there is nothing bad about using indicators. One Simply Moving Average can do the job. The problem comes with the question: "Is the market trending NOW?" Whether the market is trending or not trending is not like black and white. The correct question is: "How well the market is trending?"

And here we have something called TREND RELIABILITY.

Trends exist and they can be traded up and down for a profit. You have to focus only on the most reliable market trends. "Forex Trendy" is a software solution to find the BEST trending currency pairs, time frames and compute the trend reliability for each Forex chart:

How To Find Out Which Pair and Time Frame Is Best To Trade?

2014-05-07T06:47:00.001-07:00

Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER in this email.

Are you expecting that I am going to say something like EUR/USD on 5-minute time frame or GBP/USD on daily...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!

The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.

I actually want to let you know about a SPECIAL TOOL that I use to find the BEST TRENDING PAIRS among all the Forex pairs.

The software scans 34 Forex pairs on all time frames from minute to monthly. This way you pick the best trending pair and time frame at the current time.

The system is running on our powerful computers, so you have nothing to download and install. Just join in and start using it within a FEW MINUTES! CLICK HERE to get the link.

Trade With Stock Genius - Secret Trading Strategy Identifies Undervalued Stocks and Predicts Gains.

2014-01-29T02:36:00.001-08:00

           A Stock-Picking Robot? Seriously?


            I'm assuming you know what I'm talking about. If not, let me take a second to fill you in.

            There's a site on the Internet that claims to have invented a robot that can pick winning stocks. All you have to do is hit a button and the software 'magically' tells you what stock is about to explode! What a joke! I have a better idea. Why don't you just take out your wallet and light it on fire!   Why? This 'robot software' is just a basic software application that scans through a bunch of ticker symbols and lands on a stock symbol completely at random! It's completely fake!

            I realize that there are a lot of services on the Internet that you have to chose from, so I'll get straight to the question you're asking right now. What makes me different? I'm a real live person!
                Click Here

            I've developed a unique formula that can identify breakout stocks BEFORE they start to move.   And now I'm offering 500 people the opportunity to trade alongside me. This membership will close after I reach 500 members, so time is of the essence! Or, you can go back and take your chances with the robot.   It's up to you.

            Best of luck to you,

            James Connelly
            AKA The Penny Stock Prophet

Secret Trading Strategy - See How Quickly $1000 Turns To 1 Million Trading Penny Stocks!

2014-01-29T02:27:00.002-08:00

            By now most people know I'm not easily impressed... and
            generally very skeptical about "so called" new "secrets"
            and "magical formulas" etc...

            It's true - You can absolutely grow your income and improve gains by
            getting more skilled and learning more about the business...

            I'm just saying that I don't put much stock in supposed
            "secret discoveries" that are supposed to turn the world on
            its head.

            So at first, as you can imagine, I completely ignored rumors
            about this Penny Stock "Prophet" who'd come up with a formula to
            identify undervalued stocks AND predict when they'd move.
                Click Here

            After all... that's pretty much the "Holy Grail" of trading
            stocks.

            With that kind of information you can dramatically increase
            your returns and reduce the risk of losing your cash - I
            assure you MANY well resourced companies and investors have
            been trying to figure that out since... well... as long
            as companies have been sold publicly.

            So a kid...?

            All skepticism aside his numbers seem to speak for
            themselves and the early rumors are now backed by traders
            who've since followed his system and seen their own dramatic
            results.

            I don't know "everything" as my wife would have you believe
            (sarcasm implied) but I do know a lot. This is still
            hard for me to believe but I guess, for now, the "proof is
            in the pudding" and I need to take a closer look.

            If you're interested in making more money with low-risk
            investments... whether you're a seasoned trader, looking
            for additional income, whatever...

            ...you should probably check this out too.
                Click Here



            BTW... it looks like he'll be showing a limited number
            of people how this works soon but I'm not sure how long that will last.

            I might tune in for the training too.
            Click Here

Million Dollar Forex Trading System

2013-11-10T04:32:00.002-08:00

Million Dollar Forex Trading System

Forex market is one of the most lucrative methods that can make you boost your earnings. Just as you have the opportunity of making good money, there is also a lot of risk in Forex trading. Having the necessary skills or some basic Forex trading knowledge is a must. If you want to effectively trade, Million dollar Forex trading system will successfully help you enjoy the benefits of this kind of trade.

Million dollar Forex trading system was created with the aim of giving you a chance to make good money. From the best Forex Trader in the world, I, MBFX Team CEO, reveal the best Forex system to make anyone – including individuals with no experience on foreign exchange – make huge shocking amounts of money. Just like a real pro.

Voted Best Trader of 1999 and Best Forex Technical Analyzer Award Winner for 2009 and 2010, my experience has transformed the lives of many around the world. If you want to make some significant extra cash today, Million dollar Forex trading system can successfully help you to become a happy and profitable trader.

But why should you use my system?

·One, Million dollar Forex trading system enables you to know exactly what the Forex markets do not want you to know by bringing you something new.

·You will also be able to have a better understanding or an overview of the trends of the Forex market to enable you trade and decide like a real professional.

·With a system that has been created over 17 years, you will be able to get the needed tools that will effectively help you make better decisions and in turn enable you make good money in the Forex market.

·Even with Million dollar Forex trading system unique approach, you can still be assured of getting professional services and effective methods that work.

Whether with little or with the right knowledge on trading, Million dollar Forex trading system explains how the market functions, which will enable you as a trader have the ability to make amazing profits while keeping the risks to a minimum. With a simple click of a mouse, you can enjoy significant profits by knowing when to close a trade when the trade is going against you.

Whether for rising and falling markets, Million dollar Forex trading system gives you the ability to generate profits and is suitable for all kind of traders. Because you have the flexibility to choose when you want to trade, this system can be used by traders including:

·Day Traders

·Scalpers

·Long term Traders

Million dollar Forex trading system has been created by a trader who has been the Best Forex Technical Analyzer Award Winner for 2009 and 2010 and Best Trader of 1999. A veteran trader with 27 years experience in the Forex markets you can be sure to find all the important information for your Forex trading needs. Please Click Here for more information.

Best Forex Indicator

2013-11-09T09:21:00.000-08:00

Need Competent, Efficient Assistance? Get My Best Forex Indicator

Trading in currencies is one of the easiest ways to make money especially if you have the best FOREX indicator. This is a program that assists you in identifying currencies that you should place your money on and it can also predict the future trading options. You will have a worthwhile experience because the system will work for you especially if you are starting out in this trade and you have little or no experience. Therefore, you need to go for the best FOREX indicator because there are so many in the industry, some of which have not been tried and tested.

For instance, when you get the MBFX Forex System, you stand to accrue many benefits. This is a good choice for a person who wants to increase the amount of earnings by using the best FOREX indicator. One of the striking aspects about the creator of this system is the wealth of experience acquired over 27 years he has been in the currency market. He, MBFX Team CEO, is an award winner as the Best Trader, 1999 and Best Technical Analyzer, 2009 and 2010. He attributes his success as a trader to using the best FOREX indicator that helped him analyze the market carefully and know when to trade or not to trade. Hence, if you are keen about how you will spend your investment in currency trade, you need such competence that will help you become as successful as this pioneer. In addition, you will get the assurance that you are using the best FOREX indicator that has been tried and tested in the trading floor and has proven beneficial.

This system took 22 years to develop and test on the market to make sure that it was flawless. Some creators are in a rush to make a quick buck out of traders and they do not check the soundness of their programs. The result is a system that is prone to hackers and other problems. Since the best FOREX indicator has been on the market for years, the creator wants traders to experience the fun of having assistance and decisions you can trust. Its’ strategy is very simple that even a first time trader can comprehend. Hence, you can use it as a scalper (when you want to trade for a day and get your money quickly) or even when you want to be in the market for a longer time observing and trading. The best FOREX indicator will give you graphical representations of the market and offer suggestions about when you can trade.

When the graphs are at the green indicators, you should buy because that’s when the prices are favorable; on the red indicators, it is wise to sell because that is a representation of the high-end prices. More so, when the prices are on the blue indicators of the MBFX, you should seal the deal. When you purchase the best FOREX indicator, you will also get a video step-by-step guide to help you with the installation. This enables you to load and start using the best FOREX indicator as soon as possible. You do not want the good currencies to pass you by. Click Here for yours

Boost FOREX Trading Profits Using These 3 Simple Guidelines

2013-11-06T01:14:00.003-08:00

Forex trading is nothing more than direct access trading of different types of foreign currencies. In the past, foreign exchange trading was mostly limited to large banks and institutional traders. Recent technological advancements have made it so that small traders can also take advantage of the many benefits of Forex trading by using the various online trading platforms. By Roxanne Manning.

Forex markets possess unique attributes that offer unmatched potential for profitable trading in any market or any stage of the business cycle. For starters, Forex trading boasts a 24-hour market, giving traders the chance to take advantage of profitable market conditions anytime. Secondly, the Forex market is the most liquid market in the world. Forex traders can enter or exit the market whenever they want, during almost any market condition. There also exist minimal execution barriers or risk and no daily trading limits.

For all the advantages of the Forex market, one glaring weakness emerges. The Forex market is seen as unregulated although the operations of major dealers, like commercial banks in money centers, are regulated under the banking laws. The daily operations of retail Forex brokerages are not regulated under any laws or regulations specific to the Forex market. Many of these types of establishments in the United States, don't even report to the I.R.S. To make the most of the explosive potential of successful Forex trading, individuals should follow these guidelines.

1.Determine the quality of the broker institution you choose. Unlike equity brokers, Forex brokers are usually attached to large banks or lending institutions because of the large amounts of capital that is required. Forex brokers should be registered with the Futures Commission Merchant (FCM) as well as regulated by the Commodity Future Trading Commission (CFTC)

2. Request a free trial. Before you commit to any broker, be sure to request free trials so that you can test their different trading platforms. Brokers usually provide technical like Ichimoku Clouds as well as fundamental commentaries, economic(indicator) calendars and other research as a means of assisting you. Basically, a quality broker will provide everything one needs to succeed.

3.Monitor two financial meetings to provide insight into the upcoming Forex market. Two important meetings Forex traders should watch for are the federal Open Market Committee and the Humphrey Hawkins Hearings. By reading the reports and examining the commentary, Forex fundamental analysts can get a better understanding of any and all long-term market trends it also allows short-term traders to be able to profit from extraordinary happenings.

Forex Day Trading: How To Create Massive Wealth From Forex Day Trading

2013-11-02T02:35:00.000-07:00

Hello, how do you do?
Until now, you may have never known how easy it is to make fast money from forex day trading, because nobody has ever given you the correct information, as I will in this article.
Most people from middle class make their money from investments in real estate, stock trading, bond trading, mutual funds, CDs, auction programs and various internet programs and other small businesses.
They may have never heard about day forex trading, which is where multi-millionaires and billionaires make their money. by I-key Benney, CEO

Forex day trading is the most profitable and attractive investment opportunity because you can do it from home or office and from any country in the world.
In forex day trading, you don't need to do any marketing or selling or internet promotion to succeed.
In forex day trading, you don't need to spend thousands of dollars to do any internet promotion.
In forex day trading, you don't need any stocks or warehousing.
In forex day trading , all that you've to do is open an account with one of the brokers with as little as $300 or $2000.

Then follow simple instructions to buy and sell the currencies.
When the price of the currency is low, you buy.
In a few seconds or minutes, the price will go up, and you sell it and make a profit.
By so doing , in a day, you can easily make $500-$1000 by just buying, selling and trading these foreign currencies for about 3 or 4 hrs!
The more money you put in your forex day trading account, the more money you can make.
You can use $1 to control $200 investment in foreign currencies.
$200 to control $50,000 investment.
And $1000 to control $200,000 cash.
And get this:

You don't even have to be stuck sitting behind your computer buying and selling these foreign currencies.
You can enter all your buy trades and specify the sell prices you desire and then log off.
Whenever the values of these foreign currencies rise and your selling prices reach, the currencies will be automatically sold for you and you make money!
If you put $300 in your LIVE "Forex day trading", you can generate a minimum of "$10 in 10 mins." or about "$50" minimum daily, 6 days/wk!
If you put $1000 in your LIVE "Forex day trading", you can generate "$100 in 10 mins." or about "$400" minimum daily, 6 days/wk!!

If you put $10,000 in your LIVE "Forex day trading", you can generate "$300 in 10 mins." or "$1000" minimum daily, 6 days/wk"!!!
If you are very ambitious build your live account to $50,000-$100,000 account, you may possibly rake in $1,000,000 in 1 year!
You can do forex day trading and at the same time keep your day job, because in forex day trading, there is no work to do.

In the future when you have made hundreds of thousands of dollars, you may then quit your job and just keep doing forex day trading forever and go on permanent vacation!
To understand the beauty of forex day trading Picture this:
In the morning, you get up from sleep at 6 am.
You go to your bathroom and have your shower.
At 7am, you hurry and eat your breakfast.
At 7.20 am, you login into your forex day trading account on the internet and spend 10 minutes to buy about 3 or 4 different currencies, [for example British Pound, Euro, CHF (Swiss Currency) and Yen (Japanese currency).]

You can specify the price at which you wish to sell each currency.
Then you can log off.
By 9 am, you're at work in your office or business place.
You do your job as usual and by 5 pm, you're finished and heading home.
When you get back home around 6.30 pm, you login into your forex day trading account to see how much money you've made.

Holy Molly, there in your account it says you have made $750!
"Is this for real?", you wonder:
Yes, it is. (Your eyes are not deceiving you:)
$750 in a day for just clicking your mouse twice and doing no work?
(Whereas at your job, you work 8 hrs, but make only probably $150..)
This is how easy it is to make money from forex day trading.

But before you use real money to open a live forex day trading account, you have to open a free trial (demo) forex day trading account and practice first, to understand how it works and to acquire the right skills.
This free demo (trial) forex day trading account (forex simulation trading) will help you to reduce a lot of risks that can lead to loss.
In forex day trading, you can choose how much money to invest, how much money to make and when to make it.

You can make money daily, 365 days all year from forex day trading.
Your computer can be transformed into a personal, home "ATM" machine that cranks out cash for you daily (without large investment or hassles) from forex day trading.
In forex day trading, you can choose what type of risk you can manage, when to invest and when not to invest.

In forex day trading, you're the boss. You may do as you please.
When forex day trading is compared to other investment programs such as stock trading, bond trading, mutual funds, real estate and regular business, it is evident that forex day trading is the fastest and greatest way to make money in the world.
Forex day trading is a 2.5 trillion dollars daily business and it is larger than all the stock trading in the world combined.
These are some of the reasons why I believe that forex trading is the fastest and best way to create fantastic wealth.

Perhaps from reading this article you'll now come to know why forex day trading is the secret behind the greatest wealth on earth and why it has been kept hidden from the average people of the world and therefore little known to the masses.
May these forex day trading insights open your eyes to the possibility of infinite wealth and success that can be yours from forex day trading.
Please feel free to print or publish this article anywhere and read and also send to your friends and well wishers and please preserve the author's resource box below.

Discretionary Trading is Better Than Robots

2013-10-29T09:53:00.001-07:00

I have been trading for more than 15 years now.
When I first started, in 1994 as far as I remember, there wasn't a lot of softwares on the market and of course we didn't talk about forex yet.
But, "magic systems" were already spreading over the web. You were finding different kind of gurus selling their black box that only professionals use, of course, promising you a fortune in a matter of days or even hours...

One after the other, the gurus disappear leaving place to others.
Today, you can find thousand of "wonderful" systems if you type "trading system" on any search engine. You may read numerous articles promoting the success of such expert advisor or trading robot.
Speaking of robots, it's amazing how people believe in automatic trading. They think they can go to work in the morning, leaving behind them this wonderful robot catching pips on the forex market all alone. Have you been given the chance to get this ultimate trading system only used by banks or institutionals ? Just be patient, a smart guy will soon propose a good one, maybe the best. by Sebastien Duval

I use an ironic tone on purpose because I am tired to see all this disillusion from people who still believe in Santa Claus. Get back on earth, my friends, there is no easy way to earn money on the financial markets. Most of the traders, living from their activities, won't share their work with you.

The good news is you can learn to trade by yourself. Today, you can get very good trading courses on the web, free or not. You have access to valuable resources if you take the time to select websites.
Now, what are we supposed to do with all these trainings and advices, you might ask?
Well, if you want to be successfull in trading, whatever the market, you will have to learn to become a trader. You will have to develop your system, or trading approach, and adopt a good attitude through a back-tested money management (the one you feel confortable with and which works).
So, as a summary:

learning the trading basics from books or online ressources (technical analysis etc.)
develop you own trading system which could be as easy as efficient
use a money management system which is a necessary condition to make your trading system profitable
learn how to behave properly while trading (have you heard of the emotions control...)

When I use the word "system", I don't make reference to any automatic trading or robot. Besides the fact I can't stand automatic systems, it has been proven that systematic trading doesn't work on the long term.
Why is that ? We know that patterns always repeat themselves cycle after cycle so we could imagine a easy way to benefit from this repetition. The answer relies in the human being behavior on the market. Traders are filled with emotions like greed or fear. Even if most traders now recognize the usual patterns and knows how to follow a trends, most of the time they let themselves overwhelmed by emotions when the market doesn't react like it should...

That leads this question: why discretionary trading works?
Dicretionary approach consists in following a trading system (because you always need some king of system) through the human eye. A trader, controlling his emotions and analysing the market with objectivity, has the ability to understand the market crowd represented by all the traders. He will be able to understand the excesses and adjust his trading accordingly.

A robot will enter a position as soon as a resistance or support is broken or when a 38% fibonacci retracement has been reached etc. Of course a trader would initially adjust his robot parameters according to his strategy but he won't be able to "play" new market conditions for exemple.
The market likes to defeat all automatic systems which tend to setup logical stop losses and profit targets. Have you ever seen the wonderful spikes on the forex market, in particular after news releases...

A discretionary approach will never prevent you from losses. Any trader will suffer from losses. It is part of the activity. If you don't want to loose, you should try no-risk investments offering 2-3% a year.
But at least, you will always control what you are doing, knowing exactly what the market is leading and if this is a good moment to enter a position or not.

You have obviously a set of rules, explaining the "when and how" you enter a position, but you may adjust your strategy according to certain market conditions.
Be careful though. You need to stick to the plan you implemented when developing your trading system and money management. It's a very important aspect of the trading. But once again, there is no automatic entry position. For the exits, it's a bit different because you can set a profit target in advance and exit the position automatically. You develop this aspect in your money management rules.
I hope I gave you the desire to become a real trader using a discretionary approach, far from automatic systems which definitly don't work. Trading can be fascinating if you give yourself the means to do it properly.

How The Matrix Will Boost Your Forex Profits?

2013-10-29T01:30:00.000-07:00

Perhaps you remember one of the most impactful movies of our time, the Matrix? Morpheus believed totally in Neo to the point where he almost sacrificed his life to save him. Yet Neo did not believe in himself at the beginning, he was most uncertain about whether he was the One or not. So when he went to see the Oracle, she told him that being the One is like being in love, nobody tells you that you are in love, you just know it.

The Oracle pointed to a sign hanging on the door: "Know Thyself"...
Still Neo didn't believe in himself but when agent Smith captured Morpheus and a member of his crew suggested to pull the plug so the agents of the Matrix won't get access to Zion, something in Neo changed and he began to believe...

A little further down the path of the One, Neo "accomplished miracles" because he learned how to believe in himself fully and completely. And remember Neo had a mentor who believed in him beyond any doubt and who taught him how to use his mind to defeat the Matrix and its dangerous agents. Neo's mentor, Morpheus, showed him the path and helped him empower his mind, yet Neo walked the path to his own success after he started believing in himself and mastered his own mind.
Perhaps you were wondering, yes and what has this to do with trading the Forex market?

"Know Thyself"
Forex trading or any trading for that matter is a mind game in the first place. Some people spend a lot of time and efforts perfecting certain trading skills and knowledge like reading the charts and data, entry and exit skills but any normally intelligent person can learn these skills, they are the easiest part of the trading game. They are no doubt necessary tools to your Forex success but they don't make the biggest difference between a really successful Forex trader and the one who is not successful. So what does make the difference? by Karima Bega.

Let's ask the question: what is your goal in trading the Forex? It is to make money. Period! Surely while you're making the money and great profits you can have fun too and you should but what you need are specific mental attitudes and strengths, that is if you want to be a successful Forex trader. These mental states are an asset that will help you in many other situations and contexts of your life.

As my Forex mentor told me, the major three mental and emotional frames of mind that characterize the majority of successful FOREX traders are:

1.Discipline & amp; Passion

2.Confidence & Courage

3.Patience & Smart Persistence

We'll touch upon all three briefly to make it as clear as crystal to you so you succeed in the Forex market.
Like trading a Pair of Currencies these mental and emotional mindsets go hand in hand.

Discipline & Passion
Discipline, say the most successful Forex traders, is really important! It helps you be more effective in planning your trades and in sticking to the good plans you established before entering the trade. Always have an action plan for stop and limit levels for the trade before you enter it, your analysis should cover up the expected upside and downside.

Passion means commitment and love for what you do. It is your passion for something that keeps you going, improving, constantly learning (willing to buy excellent Forex courses from experienced and successful traders, remember Morpheus mentoring Neo) and persist beyond the ups and downs of the business. You need to know why you are trading the Forex because it is an awesome opportunity that you have to take, so develop a passion for it. Simply do what it takes to be successful, learn from the best.

A word of Caution: Never mistake your "Forex passion" for emotion that you might feel while trading the Forex, when trying to enter a trade without using clear and sound entry/exit indicators and rules. Have fun, learn, and stay tuned for future developments and grow as a person in strength and character in "your Forex business" while remaining emotionally detached when you get in and out of a trade. If you do, you are bound to incredible success in the Forex trading business.

Confidence & Courage
Successful Forex traders believe in themselves and their abilities to learn and grow, to acquire more competence learning from a mentor. There is no reality only perception, the Matrix can trick you but you can have your own special Matrix inside your mind that empowers you with an unwavering belief in yourself!
Have the confidence and courage to stick to your plan and stay with your rules even if others are doing the opposite. Keep your vision (end result) that you can make it in the Forex market in your mind until you are successful in it.

If you experience a situation where you know exactly how a currency pair will go and have a sound trading plan, go for it! Sometimes people fail to follow their own good plans because all sorts of emotions get in their way, emotions like greed and fear. Stay calm and act with confidence and courage otherwise your planning, analyzing and information gathering will be totally useless to you.

You become more competent when you educate yourself about the markets and learn from successful traders. Self develop: "Know Thyself", get into the habit of monitoring your emotions and questioning your limiting beliefs so that your mind works for you and not against you. Don't take things too personally, if you make a mistake then consider it to be valuable feedback so you become more successful, never a failure!
Patience & Smart Persistence

An Indian wisdom says: "Life is always right!" we say: "the market knows much better than you do!"
Learn to listen and read the signs the Forex market is giving you. Learn how to wait, observe and only enter a trade when it is the right time to do so, before you can reap the profits.
It can be hard to wait before your Forex trading screen and not jump into action but The successful FOREX trader will enter a trade according to the direction of the prevailing trend or will wait until a new trend shows up and establishes itself. The waiting ranges from a few hours to days or even weeks before a winning trend appears.
even if you day trade and are not a long-term or position trader, you still are well advised to keep impatience from ruining your profit chances. Also be patient means you stick with winning trades. But be most impatient with losing trades.

Practice "Know Thyself" and continue learning your Forex trading from the best and we are sure you will be a successful Forex trader. You will be on the path of Neo, the One himself!

The 7 Rules You Must Abide As Online Forex Trader

2013-10-27T03:21:00.000-07:00

Before we go into 7 rules of Forex Trading, that have been approved by a number of full time and successful traders, I'd like to narrate this story.
There was a lion, a donkey and a fox all keen to go out rabbit hunting together. After a productive day of hunting, the three of them sit around the pile of rabbits and the lion asks the Donkey, "Mr Donkey, would you please divide the pile into equal shares for the 3 of us?". The Donkey obliges and counts the rabbits into three equal piles for each of them. The Lion immediately roared and pounced him. He then piled all the rabbits on top of the donkey and asked the Fox "Mr Fox, would you please divide the rabbits up evenly between us?". The Fox takes out 1 scrawny rabbit from the pile and puts it in a pile for himself then say "There you go, Mr Lion, that's your pile" pointing to the large pile of rabbits. The lion says "Mr Fox, where did you learn to divide so equally?" and the fox says "The Donkey taught me." by Sorna Devadas

The moral of the story is to learn from others' mistakes. Now we proceed to our 7 rules. These are for you benefit as mentioned earlier, from experienced, successful traders.

Rule #1 Never risk any more than you can afford to lose, you will lose money, all traders do, make sure you're not sacrificing anything else important in the process

Rule #2 Never risk any more than 2% of your margin trading account on a simple trade. For mini account holders, 2% of $300 would be $6 so realistically you would need around $15 so you can make this 5%. As soon as your account size is big enough, make this 2%.

Rule #3 Always use a stop loss order. If you haven't figured out where your stop loss order and limit order should be at the start of your trade then you shouldn't be trading.

Rule #4 Know your exit point before you enter a trade.

Rule #5 Demo Trade First: Become successful with paper trading when there's nothing on the line before you open a real account.

Rule #6 Take a breather when your equity has taken a dive.

Rule #7 Don't let your emotions call the shots: Stay cool, calm and collected. Patience and a clear head will win the game.

Forex: Why Psychiatrists Make Better Traders Than Expert Economists?

2013-10-25T02:37:00.000-07:00

It should be noted that millionaire traders, Elder, Williams and some others are in fact professional psychiatrists. And it is not accidental that not the economists are the leaders and most successful traders, but professional psychiatrists and psychotherapists. Think about it. You will become a successful trader when you understand why it happens with Forex. You will understand what your Forex mistakes are, and why you are making them. And when you correct these mistakes you will become a trader who has no psychological barriers and obstacles on his way to better earnings in the Forex market.
So, why do the psychiatrists make better traders than economists who, as one would think, have the Forex market at their finger tips?

The economists are confused by:
— the fact that exchange rates are not always related directly to the economic circumstances in the countries. Well, do you know any economist who would be bidding for low fx rates when the economic situation is getting better and better? Or the one who admits that technical analysis of currency pairs is more important for Forex trading than the fundamental one? Any economist is confident that this can never happen because he knows all the economic dogmas. But it happens in the Forex. After all, how can a trader lose with the currencies moving up and down by the economic rules? The currency will surely react to the economic changes in the country, but who knows when and how? Here is a tip: there is the Elliott fifth way to teach a lesson to the ones who believe that fundamental knowledge is enough (before the trend turns, the currency spurts absurdly by the old trend), to confuse and draw the newbies into the game, while the experts wait for the trend to turn back.
— the lack of psychological knowledge that helps to understand the behavior of the crowd. And that is self-evident.

Are there any methods to overcome this fear?
It seems that every Forex book, every article offers efficient solutions for psychological difficulties experienced by the traders.

IN FACT NEITHER OF THESE BOOKS CONTAINS METHODS TO OVERCOME THE FEAR EXPERIENCED BY A FOREX TRADER!
But what do these books offer instead?
Almost every book of this kind consists of two unequal parts:
— the bigger part of the book narrates about traders' problem that interfere with their Forex work and make it unsuccessful (nervousness, doubts, worries, fear, sleep deprivation, etc.). As if the traders do not know their own problems.
— the considerably lesser part contains conclusions and recommendations to the traders who are to solve their problems and overcome their fears to become successful.

The conclusions are disappointing:
Many psychiatrists realize that the new field opens before their eyes — now they may treat traders whose number amounts to millions all over the world and is growing with every day. And since most traders have a dream to become as successful as George Soros and other famous traders, this new field promises to be rather lucrative.

One thing is bad though: the overwhelming majority of these new-sprung trader brain specialists do not even know what the Forex is all about.
by Alexander Brin

Why is Swing Trading in Forex Popular?

2013-10-25T00:43:00.000-07:00

Swing trading in forex is a form of quick trading performed by investors aiming to maximize profits and minimize risks by making strategic trades that last from 3 to 30 days. This is a very popular style of trading among investors and day traders across the globe. Swing trading depends on short-term variations in the market, forcing traders to react to the changes in a rapid manner. This form of trading depends more on stress price patterns than actual value.
As a trader, you do not wait for currency prices to hit either high or bottom, but wait for short term fluctuations in the market. Swing trading is highly favored by day traders, rather than by large financial establishments or brokerage houses. Swing trading is most profitable when markets are stable.

Advantages of Swing Trading in Forex
The reason for swing trading in forex being popular is the many advantages it offers over other conventional forms of trading, like buy-and-hold investing and position trading. The returns tend to be higher for an average trader. You can, for instance, trade for a short while and pay your monthly bills. Swing trading is, however, subject to market fluctuations and conditions. Like all forms of trading, swing trading is susceptible to lean phases.
When executed properly, you will experience less risk as compared to other methodologies. Unlike conventional investors whose fortunes are tied to bulls and bears, swing traders are free to exit losing trades and step out. There is an exit strategy for swing traders. Another strategy for a swing trader is to short the market even when the market suffers a slowdown.

Swing traders can have a flexible schedule unlike most day traders. All you need is to do some market research after work, and place new trades the next morning when the markets open. This style of trading offers more attractive returns due to its less labor-intensive requirements. You also need not worry about:

Scrutinizing financial statements like most investors
Monitoring market crests and troughs like position traders
See your profits vaporize before your eyes due to unfavorable market conditions
Using complicated systems like other traders

Swing trading is popular because of the flexibilities it offers. In short, swing trading gives you the highest returns in the least amount of time.
by Kitz S

Stop Loss?? Why You Should Always Use It in Forex Trading.

2013-10-23T05:48:00.003-07:00

Last week I was reviewing a website which has a trading signal program for those investors who prefer to not being involved in confusing market analysis and I respect them because such services normally will bring them more time to do other important things in their daily life. But the interesting thing was the most of signalers did not actually place a stop loss point on their recommendations. Is that so because they know they are right all the time? Or that's because they did not lose half of their trading account in an unexpected slump of 200 hundred points and a single trade by S.A Ghafar.

However, the answer is most of them have something between -1000 to -5000 pips of open trades on their signal board and they actually trapped in desperately while they could cut the losing trades and ran another one instead. Also I should mention that there are some other types of system trading that called "Hedge Fund" and I don't actually want to argue if they are right or wrong. I am definitely talking to day traders who get into challenge with big bear every day.

Sometimes, I don't understand why a trader could be convinced of not having a Stop Loss while we see almost every month an unexpected uncounted impulse (I would call it Best of the Test for whom with less of the rest) in the market.
There is no specific rule as to where you should place the stop loss, so consider the below mentioned tips as the general rules and ask your mentor to fit reliable Stop loss rules just for you and your trading system(If you have one?).

Many loser traders do place the same stop loss for all the trades they execute without even trying to measure market environment.
Don't be scared of placing a stop loss while it is for your gain and you must know what your profit objective is.
Stop Loss should not be too close to the current price while most of the stop loss enemies have ruined their trading accounts already just by using very close ones.
Stop Loss should not be too far from the point you get into trade while it's better to not placing any Stop Loss rather taking an unreachable, fictional protector.
Try to not to risk more than the points of your profit goal. Pro traders recommend to only take those trades which have at least 2 points of potential profit per 1 pip of potential lose, but I would say it is completely depends on the money management system that you use, as different money management systems has different recommendations for Risk & Reward.
Sometimes a trading system does not work if you risk less than recommended %7 to %10 of your total account balance. It means you trade oversize or you just entered the market when everyone else getting out of the market. In this case this is not your fault as it has a clear message for you "don't trade this way anymore and ask an expert to solve the problem".
If you are convinced enough that you can make up 1 million dollar out of your 10000 dollars account by not using stop losses as you may think you are the one who knows the price will be back on its way to you instead of hitting new highs, well, simply you are wrong.
Remember, there are no sky limits for the price of any of currencies in FOREX market.
If you don't like to place a pre defined Stop Loss on your trades, please ask someone to show you how to follow a wining trade by using "Trailing Stop".
Be sure it is better to have one or two losing trades with 100 points of lose, instead of being desperate with sinking into -1000 pips of dizziness.

How to Define the Best Stop Loss point?
Try these tools to define the most accurate stop loss points easily:

Use 10 pips over/below the first Parabolic SAR spot(dot) appeared over/below the price candles for Short/Long Trades.
Note#1: Remember you just can use 10 pips above the parabolic SAR dots as an Stop Loss point when you have a Short trade and Vice Versa.
Note#2: You realized that the Stop Loss obtained from SAR is too far from the point which you want to enter the market. OK, this means you are about to enter the market very late so better to not do it.
Use 10 pips over/below the day before yesterday's HIGH and LOW and in the case of the market has moved a lot far, use 10 pips over/below the yesterday HIGH and LOW as a Stop Loss point for your Short/Long trades.
Use two Moving Averages of 55 EMA and 144 MA. You may place your stop loss just 10 pips below/above one of those two MAs depending on how do you set up the profit/loss game for your Long/Short trades.
Note#: If you trade on the range market break out be aware of this kind of Stop Loss setting, and it is quite safer to use another way.
Place the Stop Loss 10 pips over/below Bollinger Bands Upper/Lower band for Short/Long trades.
If you use Elliot Waves theory to analyze the market:
# Place the Stop Loss just 10 pips below the lowest point of the Second (2) wave in bullish trend when you LONG on Wave 3.
# places the Stop Loss 10 pips below the lowest point of the 4th Wave when you go for LONG on 5th Wave.
# Place the Stop Loss right above/below the top/low of the previous wave when you go for SHORT/LONG based on A-B-C correctional waves.

Notes:

Aforementioned suggestions are based on 4Hours chart.
Those ways of defining Stop Loss points has worked for me, but It does not necessarily works for you, so ask your mentor or an expert friend to do evaluate the probability of fitting those suggestions to your trading strategy.
10 pips are because sometimes price hit the important support or resistance levels by more than a touch.
Please don't forget, the Stop Loss issue is not actually a game. It is not even an option for you; it is a "MUST" and will save you when you can do nothing, so refresh your mind in this case.
Forward your questions right to my email address opportunity4people@ymail.com, I'll try my best to give you the best answer. Good Lock

5 Things You Must Do If You Want To Attain Financial Freedom Through Forex Trading

2013-10-23T04:03:00.001-07:00

With the amazing growth of the forex market, you are going to see an astounding amount of traders lose all their money. Unfortunately, they haven't followed the simple steps I have laid out for you. Go through these steps and give yourself the greatest opportunity to achieve your goals by Eddie Yakubovich.

1. Have Faith In Yourself
To reach the level of elite forex trader, you must trust in yourself and your forex trading education. You must be willing to make all your trading decisions, instead of relying on someone else's thoughts or ability (or lack of). Of course, you will prepare yourself fully before every risking any money.

2. Accept Your Learning Curve
Unless you are a veteran trader, you will lose money trading the Forex market. This is a near certainty. I don't say this to talk you out of trading. In fact, quite the opposite. You will be trading against others that fall to this reality day in and day out. You, however, will not risk a dime until you have learned the skills you need to make money trading the forex.

3. Decide What Type of Trader You Are
There are many ways to trade the forex. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. There is no need to allow your learning curve to cost you money.

4. Get Educated
Education is the shortest path to elite forex trading. Regardless of your ultimate goals, you will reach them quicker with a great forex trading education. Take some time to review different options before deciding on who to trust with your forex trading education needs. A forex seminar will help shorten your learning curve drastically.

5. Continue to Get Educated
In order to achieve and retain elite forex trading skills, you must constantly be adding to you knowledge base. Your education should never end. In fact, one of the key points to look for in an elite forex trading course is ongoing education. It's nice to have an ongoing relationship with the person/people helping you to achieve your goals.

What separates an elite forex trader from all others is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies, or anything else you may call them. By taking this approach, however, these traders are only as good as the people they follow.
An elite forex trader will lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.

Trading Psychology: Mistakes in a Trading Environment

2013-10-23T01:27:00.000-07:00

When it comes to trading, one of the most neglected subjects are those dealing with trading psychology. Most traders spend days, months and even years trying to find the right system. But having a system is just part of the game. Don't get us wrong, it is very important to have a system that perfectly suits the trader, but it is as important as having a money management plan, or to understand all psychology barriers that may affect the trader decisions and other issues. In order to succeed in this business, there must be equilibrium between all important aspects of trading by Raul Lope.

In the trading environment, when you lose a trade, what is the first idea that pops up in your mind? It would probably be, "There must be something wrong with my system", or "I knew it, I shouldn't have taken this trade" (even when your system signaled it). But sometimes we need to dig a little deeper in order to see the nature of our mistake, and then work on it accordingly.

When it comes to trading the Forex market as well as other markets, only 5% of traders achieve the ultimate goal: to be consistent in profits. What is interesting though is that there is just a tiny difference between this 5% of traders and the rest of them. The top 5% grow from mistakes; mistakes are a learning experience, they learn an invaluable lesson on every single mistake made. Deep in their minds, a mistake is one more chance to try it harder and do it better the next time, because they know they might not get a chance the next time. And at the end, this tiny difference becomes THE big difference.
Mistakes in the trading environment

Most of us relate a trading mistake to the outcome (in terms of money) of any given trade. The truth is, a mistake has nothing to do with it, mistakes are made when certain guidelines are not followed. When the rules you trade by are violated. Take for instance the following scenarios:
First scenario: The system signals a trade.

1. Signal taken and trade turns out to be a profitable trade. Outcome of the trade: Positive, made money. Experience gained: Its good to follow the system, if I do this consistently the odds will turn in my favor. Confidence is gained in both the trader and the system. Mistake made: None.

2. Signal taken and trade turns out to be a loosing trade. Outcome of the trade: Negative, lost money. Experience gained: It is impossible to win every single trade, a loosing trade is just part of the business; our raw material, we know we can't get them all right. Even with this lost trade, the trader is proud about himself for following the system. Confidence in the trader is gained. Mistake made: None.

3. Signal not taken and trade turns out to be a profitable trade. Outcome of the trade: Neutral. Experience gained: Frustration, the trader always seems to get in trades that turned out to be loosing trades and let the profitable trades go away. Confidence is lost in the trader self. Mistake made: Not taking a trade when the system signaled it.

4. Signal not taken and trade turns out to be a loosing trade. Outcome of the trade: Neutral. Experience gained: The trader will start to think "hey, I'm better than my system". Even if the trader doesn't think on it consciously, the trader will rationalize on every signal given by the system because deep in his or her mind, his or her "feeling" is more intelligent than the system itself. From this point on, the trader will try to outguess the system. This mistake has catastrophic effects on our confidence to the system. The confidence on the trader turns into overconfidence. Mistake made: Not taking a trade when system signaled it

Second Scenario: System does not signal a trade.

1. No trade is taken Outcome of the trade: Neutral Experience gained: Good discipline, we only need to take trades when the odds are in our favor, just when the system signals it. Confidence gained in both the trader self and the system. Mistake made: None

2. A trade is taken, turns out to be a profitable trade. Outcome of the trade: Positive, made money. Experience gained: This mistake has the most catastrophic effects in the trader self, the system and most importantly in the trader's trading career. You will start to think you need no system, you know better from them all. From this point on, you will start to trade based on what you think. Confidence in the system is totally lost. Confidence in the trader self turns into overconfidence. Mistake made: Take a trade when there was no signal from the system.

3. A trade is taken, turned out to be a loosing trade. Outcome of the trade: negative, lost money. Experience gained: The trader will rethink his strategy. The next time, the trader will think it twice before getting in a trade when the system does not signal it. The trader will go "Ok, it is better to get in the market when my system signals it, only those trade have a higher probability of success". Confidence is gained in the system. Mistake made: Take a trade when there was no signal from the system
As you can see, there is absolutely no correlation between the outcome of the trade and a mistake. The most catastrophic mistake even has a positive trade outcome, made money, but this could be the beginning of the end of the trader's career. As we have already stated, mistakes must only be related to the violation of rules a trader trades by.

All these mistakes were directly related to the signals given by a system, but the same is applied when getting out of a trade. There are also mistakes related to following a trading plan. For example, risking more money on a given trade than the amount the trader should have risked and many more.
Most mistakes can be avoided by first having a trading plan. A trading plan includes the system: the criteria we use to get in and out the market, the money management plan: how much we will risk on any given trade, and many other points. Secondly, and most important, we need to have the discipline to follow strictly our plan. We created our plan when no trade was placed on, thus no psychology barriers were up front. So, the only thing we are certain about is that if we follow our plan, the decision taken is on our best interests, and in the long run, these decisions will help us have better results. We don't have to worry about isolated events, or trades that could had give us better results at first, but then they could have catastrophic results in our trading career.

How to deal with mistakes

There are many possible ways to properly manage mistakes. We will suggest the one that works better for us.

Step one: Belief change. Every mistake is a learning experience. They all have something valuable to offer. Try to counteract the natural tendency of feeling frustrated and approach mistakes in a positive manner. Instead of yelling to everyone around and feeling disappointed, say to yourself "ok, I did something wrong, what happened? What is it?

Step two: Identify the mistake made. Define the mistake, find out what caused the mistake, and try as hard as you can to effectively see the nature of that mistake. Finding the mistake nature will prevent you from making the same mistake again. More than often you will find the answer where you less expected. Take for instance a trader that doesn't follow the system. The reason behind this could be that the trader is afraid of loosing. But then, why is he or she afraid? It could be that the trader is using a system that does not fit him or her, and finds difficult to follow every signal. In this case, as you can see, the nature of the mistake is not in the surface. You need to try as hard as you can to find the real reason of the given mistake.

Step three: Measure the consequences of the mistake. List the consequences of making that particular mistake, both good and bad. Good consequences are those that make us better traders after dealing with the mistake. Think on all possible reasons you can learn from what happened. For the same example above, what are the consequences of making that mistake? Well, if you don't follow the system, you will gradually loose confidence in it, and this at the end will put you into trades you don't really want to be, and out of trades you should be in.

Step four: Take action. Taking proper action is the last and most important step. In order to learn, you need to change your behavior. Make sure that whatever you do, you become "this-mistake-proof". By taking action we turn every single mistake into a small part of success in our trading career. Continuing with the same example, redefining the system would be the trader's final step. The trader would put a system that perfectly fits him or her, so the trader doesn't find any trouble following it in future signals.
Understanding the fact that the outcome of any trade has nothing to do with a mistake will open your mind to other possibilities, where you will be able to understand the nature of every mistake made. This at the same time will open the doors for your trading career as you work and take proper action on every mistake made.

The process of success is slow, and plenty of times it is attributed to repeated mistakes made and the constant struggle to get past these mistakes, working on them accordingly. How we deal with them will shape our future as a trader, and most importantly as a person.

Money Management Tips For Trading On The Forex

2013-10-22T09:03:00.002-07:00

What is Money Management: describes strategies or methods a player uses to avoid losing their bankroll.

Money management in the foreign exchange currency market requires educating yourself in a variety of financial areas. First, a definition of the foreign exchange currency or forex market is called for. The forex market is simply the exchange of the currency of one country for the currency of another. The relative values of various currencies in the world change on a regular basis. Factors such as the stability of the economy of a country, the gross national product, the gross domestic product, inflation, interest rates, and such obvious factors as domestic security and foreign relations come into play. For instance, if a country has an unstable government, is expecting a military takeover, or is about to become involved in a war, then the country's currency may go down in relative value compared to the currency of other countries.

The Forex, or foreign currency exchange, is all about money. Money from all over the world is bought, sold and traded. On the Forex, anyone can buy and sell currency and with possibly come out ahead in the end. When dealing with the foreign currency exchange, it is possible to buy the currency of one country, sell it and make a profit. For example, a broker might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for a profit.

There are five major forex exchange markets in the world, New York, London, Frankfurt, Paris, Tokyo and Zurich. Forex trading occurs around the clock in various markets, Asian, European, and American. With different time zones, when Asian trading stops, European trading opens, and conversely when European trading stops, American trading opens, and when American trading stops, then it is time for Asian trading to begin again.

Most of the trading in the world occurs in the forex markets; smaller markets for trade in individual countries. Simply put forex trading is the simultaneous buying of one currency and selling of another. Over $1.4 trillion dollars, US of forex trading occurs daily and sometimes fortunes are made or lost in this market. The billionaire George Soros has made most of his money in forex trading. Successfully managing your money in forex trading requires an understanding of the bid/ask spread.

Simply put the bid ask spread is the difference between the price at which something is offered for sale and the price that it is actually purchased for. For instance, if the ask price is 100 dollars, and the bid is 102 dollars then the difference is two dollars, the spread. Many forex traders trade on margin. Trading on margin is buying and selling assets that are worth more than the money in your account. Since currency exchange rates on any given day are usually less than two percent, forex trading is done with a small margin. To use an example, with a one percent margin a trader can trade up to $250,000 even if he only has $5,000 in his account. This means the trade has leverage of 50 to one. This amount of leverage allows a trader to make good profits very quickly. Of course, with the chance of high profits also comes high risk.

Like many other speculative investments, a key part of money management for the forex trader is only using money that can be put at risk. It is wise to set aside a portion of your net worth and make that the only money you use in forex trading. While the chances of good profits are there, if you should have a problem and get wiped out, you'll only have a limited amount of money placed at risk. Also remember that the market is n constant motion. There are always trading opportunities. If a currency is becoming stronger or weaker in relation to other currencies there is always a chance for profit. For instance, if you believe that the Euro is gong to become weak compared to the US dollar then selling Euros is a good bet. If you believe that the dollar is going to become weaker than the yen, or the pound sterling, then selling dollars is wise. Staying current on the news and current events in the countries whose currency you hold is a smart move. Many people reach points where they can predict currency changes based on political or economic news in a given country. Remember though that forex trading is speculation, so be careful when managing your funds and only invest what you can afford to risk.

Please always make sure you check with the pros when dealing in this market unless you are doing this as a hobby and don't have a lot at stake in it. There are a lot of big boys playing here and they won't lose much sleep if you and thousands others lose their shirts...
by David Mclauchlan