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Getting a Forex Trading Education

Many Americans are interested in getting involved in forex trading. Before doing this, you should get a forex trading education. You should never get into forex trading without forex trading education. With the proper forex trading education, you can be on your way to making a tidy profit.

First you need to understand what forex trading is. Forex is short for foreign exchange. Forex trading is the simultaneous exchange of one countries currency for another countries currency. By doing so at the right times, you can gain a profit. A forex trading education can teach you how to do this.

The first part of a forex trading education is to learn the market background. The foreign exchange market is always changing. With forex trading education, you will learn how to monitor these changes to be beneficial for you.

The next part of your forex trading education is to learn about risk control and risk management. You learn to control yourself and not over invest at the thrill of the chance of making money. You will also learn how to cut your losses (how to exit losing trades before your losses exceed your limits). You will always lose money when you first begin forex trading. This part of your forex trading education is absolutely crucial to whether you will make it big or end up in a hole.

Another important part of your forex trading education is to learn how to open and manage your forex trading account. Your forex trading education should first have you practice with a demo account. This way you learn the ropes by practicing forex trades with play money. There is no risk involved, but it is just as realistic as the real thing. Your forex trading education should also let you know when you are ready for the real thing. You should then, and only then, open up a live forex trading account.

There are many ways to get a forex trading education. The best place to get a forex trading education is online. There are many free websites available that let you open free demo accounts to practice your forex trading. There are also free seminars that are avaiable at random times. The best thing to do is to get some advice from someone who is a current forex trader. They can give you some down to earth insight on the subject of forex trading.

Now that you know a little bit about forex trading it is time for you to go out and get a good forex trading education. Don’t rush into it and take your time. There is a lot of money involved with forex trading. It is best not to get ahead of yourself.

Source by Jay Moncliff

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Forex Trading in Times of Deflation

Currently, there is a lot of talk about deflation. It hasn’t really happened yet… but there are a lot of signs pointing in that direction. We all know what inflation is, but what is deflation?

There are two types of deflation: the good kind and the bad kind. The good kind happens when prices decrease due to improvements in productivity, either though technology and/or lower cost of production. The bad kind of deflation is when the lack of demand forces margin squeeze. The lower demand eventually means lay-offs and demand decreases even more. And it spirals down from there. To pull out of an era of deflation is much harder and takes longer than handling an inflationary period.

We could say that the growth of globalization and technology has been the main reason that prices look like they are very contained if not decreasing in real terms. The catchword is “low-flation”. However, there is another factor that can exacerbate deflation. It’s called a “liquidity trap.”

A liquidity trap is when interest rates are so low that there is little motivation for people to invest in certain instruments such as bonds. Indeed, investors feel that interest rates will soon rise and they hold-off buying and providing capital to the financial system. Of course, Central Bank monetary largesse has pumped trillions into bond buying and that has driven interest rates even lower. What investors would buy negative yielding bonds?

The liquidity trap doesn’t apply to Central Banks… or does it? Most doomsday Monetarists felt that Quantitative Easing would bring about high rates of inflation but that hasn’t happened. Inflation is generally too much money chasing too few goods. The reason there hasn’t been inflation is that the trillions of dollars from Quantitative Easing have just been recirculating in the regulated financial system and not chasing goods but pumping up stock prices. Also, banks aren’t lending to anyone but the most credit worthy.

OK that’s the simplistic look at the current situation. No inflation to speak of and stagnating unemployment. So, we could say that we are experiencing mostly productivity based price containment, not deflation in the bad sense. All that said, what if the right decisions coming out of the Fed or the ECB can’t stimulate economies? How does a Forex trader trade in a deflationary environment?

Here’s my take based on thirty-five years of trading. By recirculating excess money supply and not letting it loose in the consumption sector, there will probably be more downward pressure on margins. However, there is high demand in emerging world markets. In an effort to boost domestic jobs and production, there may be a race to devalue the currencies for the purpose of pumping up exports. It’s already happening in Japan. However, if every exporting nation does that all at once, there is the danger of a slack tide grounding all boats. But that would take a while and then we would come face-to-face with worldwide “bad” deflation; that would be bad news and a probable inflection point in history.

Investors are constantly reminded that trying to time the market is a losing proposition. However, traders are all about timing and what is happening to prices at the moment and not in the future. Although curious, traders are not trying to read the future in the mathematical-statistical entrails of technical indicators.

In summary, successful Forex traders will do what they always do: trade price movement, be it up or down. That said, about ten years ago, the World-famous Blue Angels flying team lost all four formation airplanes and their pilots when all four flew into the ground at over 600 mph. The reason for the accident was that three of the planes follow the lead plane without fail. The lead plane had lost control and the others followed their training mandate into the ground. So, if deflation does happen, try not to listen to the popular strategies and end up flying into the ground.

Source by M. Baghdady

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A Review of One of the Best Forex Trading Signals Providers

Becoming a member of a Forex trading signal service provider can be a valuable tool, especially for a beginner in the currency trading market. But before you make that decision, it is important for you to search for the best provider of this service. Integrity, professionalism, transparency, reputation and proven track record should be the important criteria in your selection process.

There are many Forex trading signal providers out there. Some are reliable and others are not. Some unscrupulous service providers engage in misleading information and performance record. The service can be obtained from Forex brokers for free or for a reasonable subscription fee, one time or on a monthly basis. The price varies depending on the benefits and services provided.

Forex signal providers with high review ratings are FX Day Trader, Turning Signals, FX Solutions, Huskins, IFXPro, FXDM, Forex Ring Leader, 4X Formula, 4X Lounge, Rise Forex, Forex Watchers, Premium Forex Signals, Virite FX, TOP Forex Signals, Pip Boxer, Forex Pro Indicator, Forex System, True FX Signals, FX Trade Freedom and Zonod Forex Signals.

In this article, lets us just focus on the profile and features of one of them, 34 pips.com. This company claims to have an average of 1000 pips on every single month of trading operation since 2009. Their Forex trading signals are easy to follow and you get them only twice a day every 12 hours. Their users are already more than 3,000 traders. The signals they provide can reach similar outcome with that of their live accounts. They are easy to follow which attracts many investors and traders. To help you get started, you can register for free to their Forex signal. You will get daily updates and an automated tradecopier EA available.

Some members’ reviews come from Roberto of Milano, Italy who says, “Thanks to the 35 pip team – your signals are great and honest. I love them and use the Forex signal together with my trading strategies.” Another member, Borris from Moscow has this to say, “Great Forex signals and great service. Thanks to Pet Chan and his team for everything.” Andrej from Poland comments, “35 pip is providing a service that is honest. I had one question and the support was answering fast. Thumbs up for this great Forex signal service.” Here is another positive review from another user, Andy Rosko from Renton, WA, USA. He says, “I wanted to write and tell you how much I appreciate your signal service. You are men of integrity and very professional. I was skeptical at first but have grown to trust and admire your word and work. Great SMS and email alerts system. Thank you very much.”

There are many more positive reviews and testimonials from the 35pip.com subscribers. What is fascinating about their alerts system is its simplicity, practicality and winnability. It is a 100% mechanical system featuring an effective management of profits and losses feature and you can try it out under a 30 days money back guarantee offer.

Their Forex signals are the result of many sophisticated and cutting edge tools using technical indicators, support and resistance study, Bollinger bands, market volatility, trend setting and momentum. As a trader, you can bank on its performance record. Rely on accurate entry and exit points, over 1600 pips per month with only 1 unfortunate drawdown since 2003 and no automation. It is purely a mechanical stuff. Signals are sent by SMS and email for free. They claim to be the only signal provider using real time indicators. This group started in March, 2003 in the Forex market and made good money. After a few months, they put up the web site with some professional traders with a combined 25 years of experience in the business. They now have around 3,000 members around the world and still counting.

Based on their credentials, proven track performance and growth, it appears that what they are offering is perceived by many to be among the best in providing Forex trading signals in the world. It is up to you to take this calculated risk and try it out. With the right mindset, you may have stumbled into a group who is enthusiastic and sincere in helping you make real profits in the currency trading business!

Source by Alex DeGuzman

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The 8 Hidden Dangers of Forex Trading Revealed

When I first got into forex trading 5 years ago, I was just like any other newbie. I had messed with stock market day trading a little and was attracted to the market because of its high yield potential. I had heard stories of many folks making 50% per month ROI and of course, like any other person looking to make money, I thought that this would be a perfect option to build cash quick. Of course, I was aware of the risks but I didn’t take into account all the hidden dangers of forex trading. I didn’t realize that forex trading has its own set of rules and that if you don’t understand them, then you could easily suffer a margin call.

The 8 Hidden Dangers of Forex Trading

Not Using a Stop/Loss Point for every trade– This sounds like it should be a no-brainer, especially if you are using high leverage. Just because you think that the market will do something doesn’t necessarily mean that it will. The market can swing very quickly in a direction and if you are on the losing side of the stick, you can quickly watch as your account gets wiped out. In some events, like trading the news, a stop/loss point can be extremely critical as a lot of trading platforms will actually slow making it hard for you to cancel trades. A stop/loss point will help you buffer some of the losses, should you be wrong.

Not placing the stop/loss point in the right position– It is not enough to have a stop/loss point in place. You have to know about where to put it so that if the market whip saws, your position isn’t closed automatically. A lot of traders accuse the powers to be of messing with this and actually causing whip saws to happen to knock out these positions. The amount of leverage really comes into play here. If you can’t afford to place a stop/loss in the 25+ pips range, then you should reduce your leverage to make it happen. I can’t say how often I have seen my position get closed because my stop loss point was set too low only to watch it rise past the number and into the areas I thought it would rise.

Not readjusting the stop/loss point once profit is realized– It is great when you are in profit. It is not so great to watch as your profit starts to shift back down to its original point and you wind up losing pips to the spread. Once you realize profit, readjust your stop/loss points so you can make something.

Not understanding “trends”– If you have never read the dow theories, you should. Basically all good trader’s know that you should ride trends until there is evidence that the trend has changed directions. Going against trends is a lot like going against the current. If you are going against the trend, it is likely that you are fighting the momentum of the direction the market is headed.

Not closing out your position during the event of major forex news– I know a lot of traders that trade the news exclusively. This is good but you have to understand that news about forex can create major swings in the market and spark “minor trends”. In other words, the market may be going up and you may be in profit and then some major forex news comes out, essentially wiping out your profits. Worse yet, you don’t have a stop/loss in place and you really lose….

Not checking other time frames to accurately predict the market – I am not about to go into my spill as to how much I hate intra day trading and the shorter time frames. However, many beginner forex traders will naturally be inclined to trade in 5, 10 or 15 minute time frames. Why? Well, I guess because profits and losses can be realized more quickly and there is a sense of achievement and immediate fulfillment when you are trading within shorter time frames. However, most of these people don’t take into account the secondary trends happening with the daily and weekly charts. If you are not analyzing multiple time frames, then you will be left scratching your head when the market moves against you. Once again, it all boils down to understanding the dow theory and how it moves. If you get a clear understanding of trends then you won’t fall into this pitfall.

Not understanding how Trader’s Remorse works– You are analyzing the charts. You have your support and resistance numbers set and one of the currencies you are watching suddenly breaks the barrier of support. You immediately jump into the trade, betting that the market is going to go up. It does….for a second…only to fall back to it’s original support/resistance line. What just happened? You have just been bitten by something called trader’s remorse, a point where a breakout is tested and loses. I am not going to go into trader’s remorse other than to tell you that it happens and accounts for a ton of losses.

Not implementing a risk/reward plan– I am going to say this once. Not all trades are created equal. Some trades are better than others and if you can only make the trades that have a high chance of profitability, you would be better served betting in the casinos on the roulette wheel. You can easily develop a risk/reward plan by understanding that the market traditionally will pull back or rally to certain percentages, otherwise known as Fibonacci numbers.

Of course, there are more hidden dangers to forex trading but if you stay disciplined to these basic tenets, you have a better chance of making profit. Forex trading is not a game for those that think they can profit quickly although you can. It is all about understanding the fundamentals of trading and how to piece them together to make your trades more profitable. Understand certain forex fundamentals and you will be leap years ahead of most traders.

Source by Leo Dimilo

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Real Time Forex Quotes - Improve Your Online Forex Trading With Real Time Information

If you are new to forex trading, you will be looking for ways to improve your forex profits. Even experienced traders are constantly on the look out for ways to get that extra edge. All traders are in the business to make some money. Real time forex quotes are the way to know how things are going with the various world currencies. The forex market is volatile with conditions changing rapidly. You really want to have as much real time information as possible if you want to succeed.

Free online forex sites are one way to find the real time information you need. There are many, many sites online that offer real time quotes. You will want to take some time to find the best sites. These include not only the real time quotes but also educational blogs or posts about all sorts of forex trading issues. You will want to be able to see the major currencies and cross rates. You will also want to be able to get quotes for specific currency pairs. Some of the better sites will include a quote locator that allows you to develop your own custom quote list.

Because the forex market is basically open around the clock, you will need to become accustomed to thinking in different time zones. The major forex exchanges are located in New York, London, and Asia, so you should be aware of EST, GMT, and be able to use a twenty-four hour clock. This will help you to read currency updates at various sites and convert to your local time zone easily. Two nice websites that include streaming quotes that update every few seconds are Forex Trading Charts, How The Market Works, or Forex Markets. These are just a few of many that are equally good. You will want to research several to see which includes free information that you need most.

Some sites are geared toward novice traders. These sites not only give you the real time quotes, but also provide training in forex issues, and sometimes interactive practice accounts for free. Do take advantage of these if you are just starting out. Most expert traders will tell you that you can never study or practice enough for forex. The market is so changing that each trading experience is unique. That is also what makes it exciting and profitable.

Because there are literally hundreds of sites online, you will want to choose the one that interests you the most, and that has a format that is easy for you to read and understand. You will notice that each site has a different emphasis. Some will be oriented toward global business, some will be education for newbies, some will be oriented toward expert traders, and some are dedicated to selling forex software and trading robots. Each site has something to offer.

With research, you will learn which sites are best suited to your personal trading profile, and your particular business needs. Look also for large size numbers and letters. Even if your eyesight is excellent, after hours of dedicated forex work, you will appreciate being able to find what you need easily. The bigger the better. Also be sure that the colors on the page are not distracting. You might be initially attracted to a bright green number, but after many views, it may also give you a headache. Choose for easy reading and you will also save time.

Your goal will be to develop your forex trading business using resources that suit your trading style. You will know which sites have the information you want fairly quickly. Use the site to keep current, and make your trades accordingly. Real time forex quotes are the start of a great forex business that should eventually bring you good profits for all your efforts.

Source by Angie Walters

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How to Make Trading Forex Easier

If you’ve done your due diligence about the foreign exchange market and you feel as though you’re ready to dive in and start trading, you want to first make sure that you understand the ins and outs of trading foreign currencies. One way in which beginner traders learn the market is through Forex trading tutorials. These tutorials provide you with a wealth of information so you aren’t blindly risking money.

In order to learn currency trading you will need to stay informed on a wide variety of topics, and the best way to do this is through a Forex trading tutorial. These tutorials can provide you with trading strategies and help you determine what factors are important and which are insignificant when making a trade.

Keep reading to find out about Forex trading made easy.

Tutorials

Even the most seasoned Forex trader uses tutorials for a wide variety of factors. For new Forex traders, tutorials are a great way to learn about the many different factors that influence a trade. Whether it’s political unrest, a change in economic stability or a spike in interest for a particular currency, these tutorials can help you identify what makes a good trade.

Forex trading tutorials are available all over the internet. You may find some offered for free when you sign up for a currency trading platform, or you can sign up for formal tutorials that charge anywhere from $100 and up to $3,000. Your skill as a trader as well as how much you already know about the Forex market will help you decide which type of tutorial will help you learn Forex most efficiently.

Forex Basics

When searching for the right Forex tutorial for you it is important that you get access to valuable information that you will always need. First and foremost you want a tutorial that will provide you with the basics of trading in the Forex market.

You will need to know key information such as the exchange rate of foreign currency pairs as well as the currency abbreviations. This is basic Forex market information, and without it you will find the Forex market impossible to navigate. Knowing your currency abbreviations, bid price and ask price will make your trade experience easier.

Forex Made Easy

The best way to learn as much as you can about the Forex market is to sign up for free tutorials and immerse yourself in basic Forex information so that when you begin trading you have all the information you need. The more information you have access to, the less risky your trades will be, even though all trades come with a certain amount of risk.

Specifically you should spend time using a free Forex trading account making dummy trades. These transactions will show you how the market reacts as well as how to make trades. These free accounts are widely available and the best way to learn about currency trading before you trade real money.

Use these tutorials to grow your wealth for retirement or a dream vacation!

Source by Andrew Daigle

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New Post has been published on http://kaspire.com/the-shocking-truth-about-the-forex-trading-industry/

The Shocking Truth About the Forex Trading Industry!

You won’t have to look far on the internet to find an endless barrage of web sites promoting the glamorous seductive lure of Forex trading. Unfortunately most people who are new to the Forex world have no idea what they are getting involved with when they start to investigate this exciting business. The first thing to be aware of is that when you enter the Forex world you become a customer of the Forex industry. And the second thing to be aware of is that the industry is driven by brokers. A quick search on the internet will uncover numerous Forex trading seminars, Forex trading courses, e-books, alert services, software, etc. What many people also do not realize is that when you study most of the training programs on Forex trading, almost all of them are connected with the broker industry and are at least an “introducing broker” for one of the Forex brokerage companies. What this means is that the material you are studying on how to trade may have an agenda that is different from your own. Because the training material may exist solely to get you to trade with a certain broker and the creator of the training program will then make money from your trades, the type of trading that is taught may be intentionally oriented toward a style that makes the most money for the broker and the introducing broker.

Obviously your agenda for getting involved in Forex trading is to make money for YOU not the broker. Therefore it is critical that, when you become a customer of the Forex industry, you are very discriminating and selective about what products and services you choose to purchase. How can you learn to truly master this art and science amidst this confusing maze of advertisement? One way is to seek out traders who are already successful and interact with them. Form a mastermind group in your area and/or participate in an online mastermind group. Look for educational and training programs that are not connected with the broker industry. Before you invest in a Forex trading seminar or Forex trading course, find out if the creator of the program is an introducing broker. Another thing that many newcomers to Forex trading do not realize is that the most useful information on trading may not be specifically about Forex. Trading strategies and technical analysis can be applied to any market and some of the best material on trading has been around since before Forex became the current rage.

Don’t be seduced by the current explosion of advertisement. Take your trading education seriously. Take your time and develop a long term plan for success and you will be able to enjoy the exciting benefits that the Forex market has to offer.

Source by Scott Shubert

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New Post has been published on http://kaspire.com/forex-trading-can-a-trader-make-46-consecutive-winning-trades-without-automated-trading-software/

Forex Trading - Can A Trader Make 46 Consecutive Winning Trades Without Automated Trading Software?

I’ve heard it said, “If you can make 6 winning trades in a row, followed by no more than 3 losing trades, you’re a guru of Forex.”

In the past seven years, I’ve crashed so many Demo Forex accounts that I can write a book on this topic, having reviewed every Fx (Forex) broker who is out there. After learning to see through the promises made by new brokers and trial accounts, I was almost convinced Forex trading and making profits from Forex was a big hype and nothing more. So, I stopped trading Forex for a few months…only to return ready to take on the markets once again.

In the break I took, I had mulled over the reasons for my past success with demo accounts, which had inspired me into opening live ones with registered brokers. On introspecting my past trades and analyzing the charts, I found that during the first few years of my Forex trading, I had made quite a few winning trades because I got plain lucky. Yes, it was more instinct and luck that had helped me make profits trading Forex.

However, four winning trades in a row were all I had recorded in the past, until the big crash, which left me wishing the market would improve – and with it, my dwindling profit scores. But, I learned soon enough, the Forex markets don’t work that way. If you are hoping the market will move in favor of your trade, or if you are praying that the market will change directions because you are in a bad trade, then you don’t know what you’re doing and you’re going to lose really badly.

While I jumped from one demo account to the next in 6 years, I realized I was learning all the time and even though taking this route cost me time and a fair bit of deposit money, I learned to improve my trading strategies and register consecutive winning trades consistently. I read about strategies that made traders millionaires overnight. I tried them all, the free ones, and was still poorer by the next deposit I made in a live account!

I learned about brokers, their tricks and scams, the various Forex trading platforms and I also learned about Forex competitions and why we never hear from people ever winning them. In short, I learned a lot.

I virtually became a pro at using the MT4 platform and the Currenex platform, among some other web based ones, which are crucial to serious Forex traders who are in it for the long haul. Then I learned how to trade by developing my very own Fx trading strategy and Forex money management program. I learned that sticking to the rules is the first step to successful trading.

Yes, it is possible to make 46 successive winning trades in a row, because I have done it today. I decided to write about it because I have been trying to get to the 50-mark for a couple of months now. Then I hit 46 and luck had nothing to do with it! I lost the 47th trade eventually because I committed the cardinal sin – greed.

No, I don’t believe automated trading is the answer to making profits. I’d rather trade manually, spend 8 hours before my terminal and keep an eagle eye on my hard earned money rather than have some lifeless software risk my cash on a market that runs mostly on human emotions. Besides, why would people sell software for a few miserly bucks when they can use it to make millions for themselves, as most automated Forex trading software in the market today suggests they do?

Automated Trading And Consecutive Winning Trades – I have proof that it is possible to make consistent winning trades day after day. But I’m not divulging any secrets here. It took me seven years to learn to trade successfully and I have been offered a money-making solution by my broker – Account management!

So what was the end result? 5000 USD deposit, I traded 16 half lots (50,000), 12 1/10th lots (10,000), 7 full lots (100,000), 10 5-lot trades (500,000), 1 10-lot trade (10,00,000).

Net profit US$ 2455.58.

Loss US $ 0.00.

That’s 49.112% profit…in four days!

If you can’t make more than 10 winning trades in a row, or if you feel you just can’t make it in the Forex world, I suggest you should go automatic. This means, letting an experienced Account Manager trade for you. What do you have to lose? He just takes 20% of your winnings. You make 80% doing nothing! This is the only kind of automatic trading that works – consistently.

Source by Dexter C Figg

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New Post has been published on FX Kaspire

New Post has been published on http://kaspire.com/forex-non-directional-trading/

Forex - Non-Directional Trading

Most of the forex trading strategies depend on predicting the direction of the market and then trading that market direction. For example, you need to determine whether the market is trending up or down. If the market is trending up, you will go long in the direction of the market and if the market is trending down, you will go short. This is how it works. You will be told again and again, never trade against the direction of the market.

But is there a way that does not depend on the market direction? Let’s discuss in this article a currency options trading strategy that does not depend on the market direction. No matter, in which direction the market moves, this currency options trading strategy will make profit for you.

You might have heard about put and call options? Put options gives you the right to sell a security or a currency pair at a certain price before a certain date. On the other hand, a call option gives you the right to buy a security or a currency pair at a certain price before a certain date.

Now, currency options are an alternative method of trading the forex market. Many trader simply trade the spot market but let’s say you think that EURUSD is going to move significantly but you are not sure in which direction. This can happen at the time of the release of the NFP report. Whatever, suppose, you have this strong feeling that the EURUSD pair is about to make a big move in the market but you are not sure about the direction of the move whether it will be up or down.

You buy one put option on EURUSD and one call option on EURUSD with the same strike price and the same expiration date. This options trading strategy is called a Straddle. You form a straddle by buying put and call options with the same strike price and the same expiration date. Now, if the currency pair EURUSD makes a big move in the market no matter what the direction, you make a profit. But this strategy will fail if the move was not big and was only slight.

In the same manner, you can form a strangle that is less costly then the straddle. You buy a put and a call options contract with the same expiry date but different strike prices. Again this strangle will make a good profit for you if there is a big EURUSD move in the market.

Source by Ahmad A Hassam

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New Post has been published on FX Kaspire

New Post has been published on http://kaspire.com/5-mistakes-to-avoid-in-forex-trading/

5 Mistakes To Avoid In Forex Trading

You stand to make a lot of money in Forex trading when you do it right. While the market has a lot of potential, many people make huge loses and many others are skeptical of getting into it. If you are a beginner here are the mistakes that you should avoid:

Taking A Dive

Experience is often said to be the best teacher, but not in Forex trading. There are some over-confident traders who think that they can master how to trade via trial and error. Doing this is not only suicidal, it’s also stupid.

Before you start trading using real currencies you should first understand how to trade using a demo account. A demo account is an account that has all the features found in a real account, but makes use of virtual money.

Using a demo account you will be able to understand all the ins and outs of the market without risking your investment capital.

Expecting To Make A Lot Of Money

While it’s true that you can make a lot of money with Forex trading, the money doesn’t happen overnight-you need to be patient to understand how the market works. During the early months of trading you should learn as much as possible while at the same time taking care that you don’t lose your money. With the right information and a lot of capital you will be on your way to making a lot of money.

Copying What Others Are Doing

If you are new in Forex trading you must have heard that you need to study what your mentors or great traders are doing. While you should study their trading patterns, you shouldn’t copy them.

Expert traders recommend that you should study their patterns and come up with a trading system that is unique to you. Always remember that while a given pattern will work for your mentor it might not work for you.

What you should do is to formulate a set-up, exit strategy and a money management system and you will be on your way to making a lot of money.

Lacking A Stop-Loss Order

It’s common for new traders to place a market order and leave it open. This puts you at great risk of losing your entire amount. To protect yourself you should add stop-loss instructions to all of the open positions. Here you need to identify the rate at which to take profits and the trading system will intervene on your part.

Letting Your Emotions Rule

Every person has emotions, but you shouldn’t allow your emotions to determine how you trade. It’s common to continue making large risks when you see as if you are in a profit making trend. When you trade emotionally you will continue making huge risks which is fatal as you can find yourself making a very huge loss which you might not be able to come out from.

Conclusion

Mistakes are fatal in Forex trading. By avoiding the above mistakes you will definitely be on your way to financial freedom.

Source by Idd Aziz

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New Post has been published on FX Kaspire

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Online Forex Trading - Are You Ready To Start Trading?

The popularity of online Forex trading continues to increase, each day more new traders enter the market for the first time. The huge interest is due to several reasons, not the least of which is the instant access to the markets and the hordes of information readily available by simply turning on a computer.

We’ve all seen the old movies where the stock brokers would read a ticker tape to get stock prices that were already several minutes old. Forex prices and market news is available instantly,giving access to the latest market news literally the second it happens.

Online forex trading offers investors an opportunity to make trades from the comfort of their homes with nothing more than a computer and internet access. Before trading became an online routine, trades were made by phoning an order in to a broker and having to wait for a floor trader to execute the order.

Making money is of course one of the biggest attractions of Forex trading. New traders often start investing with the hopes of getting rich and enjoying an early retirement. Unfortunately many traders entering the market for the first time are often uneducated about the basics, and most have no real trading plan in place. Needless to say, the overwhelming majority fail, and most will eventually leave the markets without ever showing a profit.

In order to succeed as a trader you must first educate yourself thoroughly. Read and study all you can about currency trading, and how the markets actually work. Much of the information you will need is available online, and the best part, it’s free.

Once you get a basic understanding of the markets, the next step should be to determine what your trading style will be. Are you patient and comfortable with taking a position in the market that may require your being in a trade overnight, or maybe longer? Are you more of a day trader that prefers to make trades quickly and get in and out of the market in a matter of minutes or hours?

Your strategy should be one that reflects your personality. Day traders aren’t good candidates for short term trading, swing trading, and long term buy and hold strategies. Once you determine what best suits your style and personality, you can begin to develop and refine a system that you will be comfortable with.

One of the most important elements of a good trading strategy should be proper money management. Without a risk management system in place you are risking losing your entire account before fully developing into a successful trader. You must be willing to have all of the entry and exit strategies in place before ever entering into a trade. Once a trade is executed, inexperienced traders tend to get caught up in the emotional aspects of the trade and very often disastrous results soon follow.

Online Forex trading is an exciting and very rewarding business, but make sure you are mentally and emotionally prepared before making your first trade. Do your research first and with good preparation you will give yourself a huge edge over other new traders.

The author’s website features more trading articles and Forex trading strategies.

Source by Ben McArthur

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Forex Trading Tips - How You Can Profit at Least 200 Pips Each Week Trading Forex

Profiting 200 pips from the forex market might seem rather out-of-reach for most ( including yourself perhaps ) if you have not been there done that. This logic is very simple to understand here – Considering a trader who can consistently nail an average of 200 pips from the forex market each week, this kind of profit target would not be overwhelming to him/her anymore. On the other hand, if you are the kind of trader who struggle to make 50 – 80 pips each week, this target of 200 pips might seem like an impossible target for you (at least for now). However, nothing is hard or impossible as long as you break down everything and try to understand the process in a simple manner – Likewise for this strategy on profiting 200 pips each week.

Let me share the details below:

In forex trading, being “consistent ” is really the key to succeed continuously month after month and for a long time to come. Nothing beats this fact I am sure. So instead of thinking how to make 200 pips each week, you just have to break it down into 40 pips a day instead. Not only is 40 pips a very achievable target, but it is also a ” realistic ” target as well. Why do I say so?

Because for almost all the currency pairs available for trading, their average daily pips range would be between 100 – 150 pips at least. Hence, when you are aiming for just 40 pips out of this range, it is definitely very do-able once you understand some proven facts I am sharing here. For this example, let me use the EUR/USD for my explanation of this strategy. This is one of the most commonly traded pair and the liquidity is definitely good.

Here are some tips for you to secure the 40 pips target with confidence:

1) Always Trade On The Bigger Time-frames Such As 1 hourly or 4 hourly

By looking at the bigger time-frames, you are actually looking at the ” bigger ” price projection in the market. Therefore, not only are you looking at more reliable signals & patterns formation from the chart, but also not that tiring after all as compared to staring at the 1 minute or 5 minutes charts instead.

2) You Should Trade With A Good ” Risk/Reward ” Ratio Of At Least 1.5x

Forex trading is merely a game of probability after all. As long as you lose less than what you win each time and simply rinse and repeat over many trades, you are going to be in the “positive” profits zone every month. So by applying a risk/reward ratio of 1.5x, you would plan your take profit at 45 pips (applicable for a pair such as EUR/USD) each time and stop loss at 30 pips. When you stick strictly to this ratio, each time you would win 45 pips but when you lose, it is only 30 pips.

Lose less and win more – That’s what I called it!

3) Learn Forex Trading Strategies For Both Sideway & Trending Market

In the forex market, it is either the market is going sideway (ranging) OR trending. And the beauty is that you can definitely nail those pips (profits) you need from both market condition once you have some strategies for each different market.

To truly put all odds on your side, it is no good to apply just one strategy to all market conditions as in this way, you would not be getting good results in the long run or maybe only “breakeven ” perhaps. So what you should do is to include good strategies meant for both the sideway & trending market in your trading basket. And the best strategies you should use would be based on Price Action itself.

Why so?

This is because Price Action is not lagging and the ” hints ” you derive from the actual market Price Action is more reliable most of the time. On the other hand, when you rely too heavily on the so called ” textbook technical indicators”, you would suffer more confusions and uncertainty as they are generally plain lagging and not as reliable as compared to Price Action.

Having stick to these 3 proven tips, your effort to make 200 pips each week would not be such a challenge anymore. You would suffer some losses definitely, but if you trade just 2 times a day ( using TP 45 pips & SL 30 pips ) and your strategies are just 50% accurate – 200 Pips by the end of the week is very do-able indeed! So if you are keen on tuning both your mindset and trading skills to make 200 pips each week, do try out and get familiar with these 3 rules using a DEMO account first.

Once you can ” consistently ” get many repeated 200 pips each week, you can then proceed onto a Live trading account if you want. 200 pips each week would roughly equate to about 800 pips every month. Now do you know how much these kind of pips would help to grow your account size by only risking 2 -3 % each time? I would say, it is enough to make most traders around the world “filled with envy ” once they know about your success with forex!

Source by Aaron Tan Wei Ming

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Millionaire FX Traders - Lessons From Them for Forex Trading Success!

In this article, we will look at some lessons from a group of ordinary people, who learned to trade in just 14 days and then went on to make hundreds of millions of dollars. You can learn a lot from this group of people so lets look at how they achieved stunning Forex trading success after just a few weeks training.

The paradox of FX trading is easy to learn yet very few succeed. In fact, the amount of traders who make money is a minority of just 5 percent. If you learn how our group of super traders learned to win, you will understand how they made money and how you can too.

The story started when a famous trader called Richard Dennis, decided to teach a group of people who had never traded before to trade. he selected some people and they were from both male and female, of different ages, of varying levels of intelligence and the group included:

A kid just out of school who had never worked, a security guard, a lady accounts clerk and an actor and Dennis then set about teaching them to trade.

They learned to trade in just 14 days and the rest is history – they piled up hundreds of millions of dollars in trading profits and many still trade successfully today. So how did they manage to achieve success quickly, when so many traders fail? Lets take a look in more detail.

The trading method wasn’t complex or over loaded with indicators, it was simple! The trading method followed price action on a charts, locking in to big trends via breakouts which is a proven way to make money.

The system focused on the long term!

Most traders like to scalp and day trade, they make a lot of effort and lose money. The group of traders who Dennis taught, did the opposite and focused on the big trends which last many weeks or in some case months and held them for huge profits.

The system lost the majority of the time and around 70% of trades lost money but the ones that made money, made huge profits. This allowed the traders to pile up triple digit long term profits and still lose the majority of their trades.

The method was easy to learn but following it was hard, as many of the traders have since said in interviews and books on the experiment. However, they knew they had to hold their discipline and cut losing trades quickly and run their profits to win and they did with spectacular success.

No one likes to lose, we all have egos – but if you want to win at Forex trading you must learn to take losses and keep them small.

Most traders can’t do this and lose. To enjoy currency trading success, you must learn to cut losses or you will end up losing too. Be smart – lose your ego and accept losses and run profits and you can achieve success.

Why You Can Achieve Forex Trading Success

If you have understood the article you will see why the majority of traders lose and how you can win. Learning a FX trading system which can make money is easy but you need to right mindset to win and this is the reason why most traders fail.

The right mindset for success though is a choice and if you want to enjoy success, make the right choice and your on the road to long term FX trading success.

Source by Kelly Price

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FTSE SP500 EURUSD GOLD Outlook And Education

Set Quality to 720p (HD) and maximize the video screen

    Join Me On eToro

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Zero Loss Forex Trading - Here's a Sure-Fire Way to Win Every Trade

Is it Possible To Trade Forex Without Taking Any Losses?

Theoretically, yes, it is possible. But we don’t trade in theories, right? Forex trading is a reality. So is the Zero Loss Forex trading system.

So how can the Zero Loss Forex trading system make the claim to have a secret method of trading that GUARANTEES that you will not lose any trades? Not a single one?

Let’s explore this some. Ok, really. Yes, it is possible to never lose any trades in forex trading. This is a fact. but what does it take to do that? Extreme patience. Nerves of steel. Massive discipline and deep pockets.

Here’s one way it can be done and this is not the way Zero Loss Forex trading system does it.

The nature of the forex markets is that it always goes up and down. It never goes in one direction forever. Well, that’s really true of any market. So theoretically, what you can do is wait for a historical bottom or top in prices and place a forex trade in the opposite direction of the market. This can take a long time to develop so you must have the patience of a saint! Of course, no one is ever sure that the market has reached a top or a bottom and will not go much further. In fact, many times it does extend further once a barrier has been breached.

But one thing is absolutely for sure. At some point, it will reverse and go back down or back up. And if you place a trade at or near the top or bottom of the current market and wait, you will be rewarded with a winning trade. No doubt. In forex trading, the problem lies in those factors mentioned before: patience, discipline, nerves of steel and a pocketbook to match.

Forex trading is a highly leveraged. So in order to maintain that trade while it is going against you and waiting for it to turn, you must be able to withstand the losses and the have enough funds to cover the margin. Or else you get knocked out of your trade before it turns. And it seems most of the time that as soon as you get knocked out, that’s when it turns! Talk about anguish!

But if you can do this, you can bank on eventually winning the trade and taking home the money.

Ok, so that is how you can always guarantee a winning trade. 100% of the time!

The question here is how can it be done on a more regular basis and not have to wait and wait and wait for the right circumstances to appear?

Zero Loss Forex Trading system has the answer!

You see, another historically true fact in the forex markets and also in most all commodities markets is something called seasonality. Seasonality simply is a way to say that markets behave in a very predictable way certain times of the year. Always.

This term applies mostly to commodities. Zero Loss Forex trading system takes this fact and applies it to the forex markets. Forex markets of course are not seasonal by nature. They don’t depend on the weather and time of year like crops and cattle do. Forex markets operate 24/7 almost 365 days a year.

But what the Zero Loss Forex trading system has found is a repetitive trade that occurs very frequently and when it appears, if you know what to do and when exactly to do it, you can take advantage of the setup and be sure to always have a winning trade. It’s like clockwork. You can bank on it!

Source by Markus Gee

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Add Leverage to Your Forex Trading to Gain Considerably With Limited Capital

‘Leverage’, meaning borrowed funds is not only used to buy physical assets such as automobiles and real estate, but is also used in financial trading platforms such as Forex (foreign exchange) and equities.

From the past few years, millions of retail investors are actively participating in Forex trading online. The proliferation of online trading platforms and availability of economical credits are the main reasons for such widespread participations.

However, using of leverage for trading can be seen as a double-edged sword. Not only does it magnify the gains, it also poses an equal risk of losses. Trading on high scales of leveraging is quite a norm in Forex trading.

How leverage works

Essentially, leverage means controlling a small deposit that you select. Depending on the trading model you choose, it could range from 0.25 to 5 percent.

Leverage is usually worked as a ratio. For instance, 50:1 is the ratio equal to the margin of 2 percent (1/50 = 2% or 0.02). In order to trade here, you must have at least two percent of the total coverage of the intended position.

Margin needed for a position means, the funds that you need to have in your account to open, and also to maintain a position.

Every night, you need to pay financing charges including the value that has been borrowed to trade in the full position. Leverages works in the same way like when you buy or mortgage a house.

The trading account will automatically compute the margin, based on the value of the currency you trade. Therefore, the margin amount needed is influenced by the changes that occur in the market. This allows you to increase your awareness over the margin requirement during the trades.

For those currency pairs, which are not your base currency value, the required margin is converted back into the base currency, at a price that is prevailing in the market.

Leverage to Suit

Forex traders can avail the “Leverage to Suit” structure, which means the clients are free to select the leverage scale they prefer. So, the traders can select the leverage based on their strategy and the risk aptitude. The ‘leverage to suit’ option will give the traders an opportunity to pick between the ‘ratio options’ ranging from 5% (20:1) to 0.25% (400:1).

Leverage trading is the key advantage of Forex trading. Also, known as margin, leverage allows you to get a large exposure of the market at a relatively small preliminary deposit. By using leverage, it is possible to generate returns of almost 40%, with an initial investment of $5,000. So, if the markets move favorably, then the net returns will be greater than the initial outlay.

However, it is pertinent to use safety precautions like the professional traders, in order to mitigate the risks involved in leverage trading.

Source by Mohammed Abdul Nadeem

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Online Forex Trading Strategy - How to Make Currency Trading Systems Work For You

Now that there are hundreds of Forex margin brokers, millions of free Forex trading tips webistes and literally hundreds of thousands of Forex day trading strategy “home based business” Forex traders, we can say that virtually anyone with an internet connection can trade Forex with the pros.

In any power trading strategy, a proven trading method will mean that through Forex strategy testing and by using trading risk management, no more than one or two per cent of a total account value is put at risk in a single trade. This is key in the path to big Forex profits. Any trader beginning out will look at the trading methodologies available to them and decide to create trading rules for their Forex trading strategy.

Forex trading (currency trading) initiates should be aware therefore not only of technical and fundamental analysis and predicting Forex prices, but also of how to be a trading strategy tester and to have strong Forex trading rules that help them to make the big Forex profits they are seeking. The alternative is to have more experienced Forex trading systems used by more experienced traders end up causing you to lose all your money in your Forex business – the harshest possible outcome.

Having the following in place could assist you in getting started right away in Forex trading (currency trading): a Forex trading software platform; a free Forex trading strategy (or a paid for one for that matter); an understanding of fundamental and technical analysis and a trading risk management system. From these elements (and also the support of a daily Forex strategy briefing from a margin broker or some other site) you can start Forex trading in the fx market with your own Forex trading strategy rules.

Learning currency trading online needs to begin with sound trading risk management and how to manage your trading account balance by making intelligent risk decisions with your trading account. The risks can be higher with Forex because the moves in a week can be equivalent to a month in stock moves. Volatility is to be expected.

Currency trading strategy rules for a Forex business can be developed by amalgamating Forex trading systems of others or simply garnering a Forex education to include: fundamental and technical analysis; trading money management (risk management); a daily Forex strategy briefing from a “third party” and a way of creating Forex forecase signals (in other words a means of predicting future Forex prices from perhaps a technical setup on a currency pair or simply from Forex strategy testing that has been carried out.

Forex strategy testing can either be done through using a practice account through your broker or by paper trading your strategy. A third option is to use software such as Forex strategy tester which can run a simulation of what could happen if you trade by your rules with some limitations on accuracy.

Free Forex trading strategy tips are available from Forex ebooks webistes all over the web. The truth is that the Forex trading fx market needs to be treated as a business that runs like a Forex trading machine as much as possible. This is key if you are to make big Forex profits in live trading. Lack of regulation means that anyone can sell a “scalping trading strategy” or so-called “foolproof trading method” and make themselves out to be an expert or even say they are a long term bank trader when they are not. There is a need for caution therefore when deciding on where to get your Forex education because not any Forex trading guide is actually going to help in your predicting Forex prices in the near, medium or long terms.

It behooves you to go out and look at what is on offer from Forex trading websites and learn more about the global currency markets after you have read this article. Some sites are listed in the resource box at the end to start you off. Trading Forex online then presents challenges. The rest of this article will address those challenges. In order to trade effectively, a Forex trading guide is needed for the initiate in to the Forex markets to be able to learn online currency trading, understand trading risk management and how to manage money, discover technical and fundamental analysis, how these types of analysis of the market differ and how to apply them in creating a Forex trading machine.

This means that after all the cogs are set in place you will have a Forex trading machine that enables you to its like a professional and make decisions based in the moment and on the facts that are presented to you, rather than guess or gambling work – although there is invariably an element of risk, your job is to eliminate the risk as much as possible in applying your trading strategy.

To make this happen, you will start to think about what you may need in order to implement your trading strategy. For example, will you be needing a daily Forex strategy briefing from either a paid service or a free provider of its strategy briefings – such as perhaps your broker or a third party service. In your technical analysis will you be utilising traditional indicators such as those involved in a bands trading strategy (Bollinger Bands), will you rely on charts created by a its platform or other currency price forecast type service or will you be professional analyst charts to make your decisions?

A proven trading method is hard to come by. There are educators who have been trading Forex for banks and other institutions for many years. However they are still going to find it incredibly difficult to pass on their years of knowledge, at least not in the time most people want to go from knowing nothing about Forex trading (currency trading) to being an expert and making money with its as a business.

In sum, it is multidimensional. There are several aspects of absolute importance. These include strategy, both in terms of trading and money management, education – both initial and ongoing and focusing in on mastering a specific area whether that be a particular currency pair or aspect within the field – such as global economics of a particular country.

Source by Matthew Bonseas