Getting Started In Forex - The Proven Best Strategy For Getting Started In Forex

Getting Started In Forex - The Proven Best Strategy For Getting Started In Forex
By [http://ezinearticles.com/?expert=Karin_I_Manning]Karin I Manning

The proven strategy for getting started in Forex trading - thousands of people every year get started in Forex trading. Thousands of people new to Forex trading every year make critical mistakes because they've cut corners and not followed the best strategy for getting started in Forex. This article will discuss the best proven strategy for getting started in Forex - what you need to do and what you have to know. Keep reading to get a FREE Forex trading lesson plus access to a $100,000.00 Forex demo account to get you getting started in Forex.

Getting Started in Forex Strategy One - when you are getting started in Forex trading it's important to a realistic Forex trading strategy. To do this you need to know (and stick to how much money you are willing to risk.

Getting Started in Forex Strategy Two - when you are getting started in Forex trading it's important to choose the best Forex trader. It is an ABSOLUTE MUST that your Forex broker is registered with the Commodity Futures Trading Commission.

Getting Started in Forex Strategy Three - when you are getting started in Forex trading be sure to have access to the most up to date and most important Forex tools to help you getting started in Forex. Various brokers have access to various tools. Only choose a Forex broker that has the best and most up to date Forex tools at his fingertips. The more access to Forex information that he has the better your chance at winning Forex trades.

Getting Started In Forex Strategy Four - getting started in Forex trading involves learning two different ways of Forex trading (technical and fundamental) and becoming as efficient as you possible can in the Forex trading strategy that works best for you.

Getting Started In Forex Strategy Five - when getting started in Forex trading it's absolutely critical that you build a solid Forex foundation with a comprehensive understanding of the basic building blocks. Taking shortcuts here is not an option and will only result in Forex losses.

Getting Started In Forex Strategy Six - every Forex trader, even ones not getting started in Forex trading, should have a reasonable understanding of interest rates, international trade and the economy in order to predict movements in the current market.

Getting Started in Forex Strategy Seven - one

Copyright 2007. Are you ready to get the best education in Forex trading? “Fast Education For Fast Forex Profits” is what this best Forex trading system course is all about. Learn how to start making money trading the Forex market within 30 days. Study, practice, trade – get a 30 day FREE trial to practice Forex trading with your own $100,000.00 Forex account so you never have to risk any of your own money! Start your beginner education in Forex trading at http://www.Best-Forex-Trading-System-Course.com

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Currency Online Trading - Why the Internet Has Made Trading Success Harder To Achieve

Currency Online Trading - Why the Internet Has Made Trading Success Harder To Achieve
By [http://ezinearticles.com/?expert=Monica_Hendrix]Monica Hendrix

Currency trading online has opened forex markets to more traders than ever before and I read a lot about how it has made trading easier – Rubbish! It’s no easier to make money and probably harder than ever before.

If you don’t know why read on and find out.

First, let’s start with a simple observation:

The ratio of winners to losers remains the same as it did 50 years ago and the percentage of novice traders losing is higher than ever before.

The fact is that currency trading is easier to do – minimums are lower and on the face of it looks easier so more people who are unprepared try it and get hammered.

Let’s look at a trading currency online myth.

Myth – The Amount of Information Makes It Easier

There is certainly a vast amount of free information that can help you learn to trade but this was always available for a minor cost by going to your local bookstore.

There are numerous courses and currency trading systems sold by vendors with ridiculous claims of easy profits, temping novice traders to open trading accounts and the vast majority are junk.

There is a lot more news available to, but since when did currency traders make money trading news stories?

The fact that news is available online means that everyone has it in seconds and it’s discounted instantly. Furthermore, it has increased volatility and dealing with volatility, is the really hard part of forex trading.

On the face of it, it would seem the internet has made trading easier (and it has in terms of trading and opening an account) but in terms of making money it has not.

More novice traders are lured into trading than ever before by the promise of easy riches and promptly lose all their money.

Accept this fact – trading is hard

The internet has made no difference in terms of increasing your chances of success; it has only made opening an account easier.

If you want to engage in currency online trading then ask yourself this simple question:

Why should I be a winner when 95% of novice traders lose?

If you are like most novice traders who have bought a $100 e-book or currency trading system from a vendor and think that will help you - the bad news is you are going to lose.

If you intend to trade using the vast amount of online news (you’ve guessed it already) you’re going to lose.

The odds are against you!

The odds of novice traders making money in forex trading are slim and most are deluded in terms of what it takes to win.

If you want to win you need a forex trading strategy that gives you an edge – if you don’t know what your edge is in terms of how you can beat the odds you don’t have one!

What you have to content with is huge volatility in all currencies. Spotting trends is not that hard holding them or entering them with wild price swings is the hard part and to a degree the internet has helped increase it.

Unlike many article writers who have never traded and write about how easy trading is, I have been a trader for 27 years and if you asked me:

Would I rather trade before the internet or after? – The answer would from profit point of view be a resounding yes.

If you want to become a successful forex trader, then be aware of the challenges that you face in terms of achieving success in currency trading online, or get ready to lose your money.

GRAB 3 X FREE TRADER & FREE TRADER PROFITS NEWSLETTER

On all aspects of becoming a profitable trader including features, downloads and some critical FREE Trader PDF's and more FREE [http://www.net-planet.org/finance/free-trading-pdfs.html]Forex Education visit our website at http://www.net-planet.org/index.html

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Forex Signal, Forex Signals Advice

Forex Signal, Forex Signals Advice
By [http://ezinearticles.com/?expert=Alvin_Han] Alvin Han

There are lot's of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex signals providers available?

Personally, I will say do not pay for Forex signals. Think about it - if a Forex signals provider sells Forex signals for living, you can doubt their Forex trading skills? Or else if they are pretty good in Forex trading and making lot's of profit, I am wondering why do they still bother to sell Forex signals for money. Thus, what would be the value of such Forex signals providers? The answer is ZERO.

There are Forex traders who have been relying on Forex signals arguing those Forex signals providers really help them making money in Forex trading. These Forex traders can even show their Forex trading logs as evidence. After some though, I came out with the assumption that assuming I am the owner of a Forex signals provider, in order for my business to be in black, obviously I need some satisfying customers......

Full article available at:

[http://www.forex.labuan.net/forex-signal.html] http://www.forex.labuan.net/forex-signal.html

Alvin Han is the editor of [http://www.forex.labuan.net/] http://www.forex.labuan.net

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A Second Income By Trading Currency

A Second Income By Trading Currency
By [http://ezinearticles.com/?expert=Kelly_Parsons] Kelly Parsons

One of the latest ways people have found to make money is by trading currency. Trading currency is not the same as trading baseball cards instead it can have large banks and companies exchanging one type of currency for another. Trading different currencies is completed on the FOREX market.

The FOREX is a term that stands for the Foreign Exchange Market. It is in this unregulated market that people are able to make money but turning over different types of currencies. The FOREX is different than the Stock Market or the NASDAQ, because the FOREX will report the exchange rate at which the currency is trading at, against the US dollar. If the rate changes, depending on the economy, a profit can be made by exchanging one currency into another type of currency.

Overall to make money using the FOREX market, would require the person to spend at least one month to a couple of months investigating how the FOREX works. Based on this, trading on the FOREX cannot be viewed as a get rich quick scheme. Because the dollar can be so volatile in the amount it is worth, it is advised not to invest more than you can afford to lose.

If interested in using FOREX as a way to make money, it is also advised to consult a wide variety of FOREX trading forums. These forums will have information on tips and tricks, along with upcoming trends to watch out for. There will also be a high number of FOREX ventures willing to explain everyone to you. In this case, there is no other reason not to begin trading FOREX.

Kelly Parsons is a stay at home parent, and also the co founder of target=new [http://paidsurveys.4-reviews.com] paidsurveys.4-reviews.com where you can get information on target=new [http://paidsurveys.4-reviews.com] paid surveys and other work at home ideas. Get our reports for free by going to our, [http://paidsurveys.4-reviews.com/sign_up_free_reports.html] online paid surveys guide sign up page.

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The 4 Wheels That Take A Forex Trader To Success

The 4 Wheels That Take A Forex Trader To Success
By Iduvio Sacravug

People hear about forex and they run and buy courses and eBooks for heavy money.They sign up for all kind of services and charts, they pay a lot of money for trainers and classes, learning about MACD and Fibbonaci and all kind of indicators, but they are not taught the basics, they don't know what you need in the first place in order to become a successful trader.

1.Will

First of all you need the will to do it...and to learn about it. If you just heard about it and you just want to "give it a try" the odds are that you will conclude after 2-3 weeks or 2 months: It ain't working.I've spent a couple of hundred bucks on ebooks and the best courses on the internet but I cannot trade profitable and I also lost 1000$ on a live account in just one week.

Having the will means opening a demo account, having a notebook where you write down every trade you make and the reasons why you thought that is a good trade. You should also write when you close the trade, why did you closed the trade and if it was a stop loss, limit, or you just decided to close it.

You will feel like a king when you have the first winning trade, but after 5-6 trades that end up with loss you will be discouraged and you will want to give it up.. I know how it feels because I've been there. In that moments you need the will to go on.

2.Discipline

After you learn how to use a chart, a trading station, indicators and you start building your trading system you should stick to it for some time. Follow your system for 1 month, then you conclude if it is bad or good; if it brings you money or it costs you money. After that you will have an idea about how profitable is the trading system you built and after 1 month you might decide to change something. Like...I won't place the stop so close because the market needs some space to bounce before it has a trend or I will not be using so tights limits, because I can see the market moves in the direction I predict and I think I could get more pips if it wouldn't be the limit so close.. and so on... After you decide you have the new trading system, which is the "improved" old one and you trade with this system for 1 month to see where it takes you.
You need discipline because you must stick to your system. Don't give it up and try something new after the first 6 loosing trades because that is not enough time to test a system. I consider a system fully tested when I use it for 200 orders at least.

3 Self Control

You will find yourself in front of an order that has 5 more pips before it hits the limit and you will click the mouse and close the order because you will be afraid the market could turn against you and you might loose what you just won.

There are 2 feelings here...fear and greed.

greed- An excessive desire to acquire or possess more than what one needs or deserves, especially with respect to material wealth (by Dictionary.com )

This means your system doesn't deserve more and when you try to close your position before your system does it it means you cheat. You let your feelings take over the control on your mind and over your rational part of the brain. This is a bad thing, because doing so you will develop a pattern which will bring you fake information like the average profit your system brings you. That is altered data, because you interfere. You have to control yourself and not interfere with in your system.

Feelings are good...in music, in painting, in poetry, in love...but in trading are very very expensive and that is why they must be removed when you sit down to your trading desk.

Another aspect of self control is to trade only when you see an opportunity, a signal...don't just trade because you feel like it today. If the market tells you nothing, it should be a golf day or a day to spend with the family. If the market tells you nothing , you should not trade. It is a matter of self control.

4.Honesty

The last thing inside you that is directly linked with your profit is being honest. If a system it just doesn't work, you should be honest and admit it. The market is never wrong...the market is always right, no matter what. It might be irrational, it might be illogical you could get up from your trading chair one day and say ... It doesn't make sense.. Yes, the market often doesn't make sense, but it is right. And if you don't make a profit, your system is wrong, not the market.
Arguing with the neighbor, with a brother, a sister, a colleague is a common thing, we usually get over it soon and sometimes with certain people arguing it becomes a pattern. But that is ok if certain limits are respected.

But..

...arguing with the market is very expensive. If the market is right and you are wrong it costs you money, and remember what I said about when the market is right?A L W A Y S...so..be honest: If you are not making profits the system should be improved.

Iduvio
http://www.my4xGuru.com
Resume and Cover Letter Writing Service

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Forex- advantages and disadvantages

Forex investing is the act of trading one currency for another in order to gain profit. With a daily average of over 1.8 trillion dollars, it is pretty easy to see why the Forex market is the largest  in the world.

The Forex does not actually have a physical address. Instead, the Forex market is a network of central banks and investors all over the world that handle currency, and the trading of such. Because the Forex market deals in all countries in the world, including the United States, Asia, and Europe, the market is open 24 hours a day. You can trade Forex anytime, anywhere, as long as you have the knowledge to do so(or a professional broker or trading program) and access to a computer.

Due to the rising popularity of the market, brokers and online programs have made simulated programs, which allow you to trade in real time, without the use of actual money. Find out more at Forex

Perfect Internet Home Business

Perfect Internet Home Business
By Altaf Sahibzada

So many programs claim to make money online for people. Unfortunately most of these not even make a small amount enough to pay a petty monthly bill. Many of them rather do the opposite. Instead of paying, they take away money from people.

Millions of persons have a dream of earning from the internet with no boss, no routine, no fixed hours, no or very little investment etc. Alas most of them get disappointed. They have high hopes from the internet. This is where the problem lies. One has to realize that there is no free lunch. One has to work hard to make it work and put in a lot of effort into it.

This is also true that thousands of people are now dependent on the internet for their livelihood. Two most important things for success on the internet are to have a good product and effective marketing. If someone has some useful information to share or any high demand product to sell, then it can be easier to earn money online.

Different people have different criteria to make money on the internet. What is the way out for those who do not have much time to work long hours on the internet, who do not want the headaches of maintaining a website, who cannot invest a lot of money in any business etc.

So many people would love to work on their own, at the time of their own choosing, investing their own amount of time and money, having simplicity of business, no boss, no website, no infrastructure etc.

Not many businesses meet these criteria. One of them is forex trading. This is the largest but the least regulated financial market in the world. This has been the fastest growing online business, with daily turnover rising from $5 billion in 1997 to more than $2 trillion now.

Online forex trading provides one perfect home business opportunity. One can work from minutes to hours and at any time of the day as per one’s own convenience and choosing. It may also be mentioned that the most active hours of trading are 8 PM to 9.10 AM EST. That is almost 13 hours of active trading. This market is open 24 hours and 6 days a week.

One can invest as little as $50 with no set-up or other hidden fees. One can do free demo trading before actual trading. One can also get free education and training to start in this market. Forex Market has many positive additional features as compared to stock trading.

Any type of trading is risky. Foreign currency trading is no exception. One should know what one is doing with any type of business including fx trading. If one follows proper strategies, education and discipline, there is a lot of potential of making descent income in forex trade.

Currency trading is just one work at home opportunity. To learn more about this exciting online business, please visit the following link:

http://www.businesses-jobs-careers.com/Forex/ForexSystems.html

The author has background in business, economics and finance. He is presently researching in finding ways to make money and working on the following website and blogs:

http://www.businesses-jobs-careers.com

http://www.IWant2MakeMoneyOnline.blogspot.com

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Trading Signals, Systems And Methods

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New to Forex? Invest in Your Brain First

Invest in Your Brain First:

"If you are serious about investing in Forex market, building up your trading skills and knowledge is the very first step that you must take. Seminars, workshops, video tutorials, online learning, or even books are handful to help us learn from the professional.

Learn to implement technical charting into your trades; learn using indicators to determine the right time to enter/exit the market; brush up your experience by trading with a demo account… all these are effective to ensure your smooth starts and it will definitely reduce your chances of losing money."

Foreign Currency Trading (FOREX) Trade For A Profit

Foreign Currency Trading (FOREX) Trade For A Profit
By Adrian Pablo

Among the many ways and methods you can use to make some money on the web there is one that is surely among the best methods you can use to grab your share of the millions being made on the internet everyday by a bunch of people not very different from you around the world. This great method for making money at home is by trading the Forex or foreign currency trading as others call it.

During many years Forex traders had been only stationed at the major banks, large financial institutions and most countries central banks; they didn’t exist outside that cold world. But these days things have changed, we live in a different world and thanks to the internet the forex market has been totally opened to anyone willing to learn the right techniques that forex trading requires and with the intention of making substantial profits as the before mentioned institutions do. It’s a fact that they consistently make pretty high profits from trading in the Foreign Exchange market. Being many times this the most profitable activity of the financial institution.

As a short introduction, the forex market has five major currencies: US Dollar, Japanese Yen, British Pound, Euro and the Swiss Franc. These five major currencies have a great popularity in world’s commerce transactions due to the economic power of the countries emitting the currencies so these five currencies account for over 70% of North American trading. What this means is that you should place great attention to these currencies when trading because they will be the ones that will show the most evident trends as the markets evolve with time.

You can learn more about Forex Trading and how to become a profitable trader here:

=>> http://best-forex-trading-systems.blogspot.com/

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Forex Trading - 4 Tips On How to Make Money Fast

Forex Trading - 4 Tips On How to Make Money Fast
By Kelly Price

Most forex traders lose and others make marginal profits yet there are a small minority of traders that that pile up triple digit gains on an annual basis.

Here are 4 specific tips on how to make money fast and build serious wealth.

1. Take charge of your destiny

You can’t buy success the only person who can give you success is you. Forget people trying to sell you some method of 100 bucks that can make you rich.

Common sense should tell you it’s not as easy to make money as that!

The only person in forex trading that can make you rich is YOU.

You don’t have to work hard, but you do have to work smart and that’s what the rest of this article is about.

2. Getting a method customized for your personality

Your on your own and will have to learn your own method that you have confidence in, while this may sound daunting it’s a lot easier than most traders think.

We have covered building a successful trading method in other articles, but here are the basics.

A. Use a breakout methodology to spot trends a simple methodology that works

B. Look to trade the BIG Trends only this means looking of significant breaks of resistance and trends that last several weeks months or years

C. Use some confirmation indicators the best in our view are Bollinger bands, stochastic and RSI

Search all of the above and check our articles and you can build a system your happy with for free

The fact you have built the system gives you a very important edge.

You have built it, so you have confidence in its logic, can apply it with iron discipline and stick with it through periods of drawdown.

Keep in mind that

Simple systems are easy to understand, easy to apply and are far more robust than complicated ones that break, in the face of brutal market conditions.

3. Money Management

To make money fast you need to take calculated risks when the time is right

If you want to make money you have to take risk.

The fatal error most traders make when trying to make money fast is that they have no idea of stop placement

If you are looking for the big breakouts and big trends they last for a long time and you need to stay with them.

Don’t try and lock in profit to soon by moving stops!

This is a fatal error you will simply get taken out of the trade and get a marginal profit and then see the trend go onto make $10, 15, - 20,000 or more and there not in.

Let the trend go and don’t try and protect open equity to soon.

You will have to face dips in your open equity but that is worth it for the end result a huge profit.

4. Patience and courage

The big trends that yield the huge profits only come a few times a year in most currencies, so you have to be PATIENT.

You’re not interested in trading for the sake of trading and excitement, your trading to make money fast.

You will do this if you wait for the right opportunities and milk the big trends for all their worth.

Courage!

You don’t often here this word used but fact is it takes immense courage to enter a trade and watch it swing back against you without the temptation to bank a small profit or move your stop to soon.

If you have the courage to follow the big trends and take the swings you will be rewarded by making money fast and triple digit annul gains could be yours.

Working smart to make money fast

Involves building a simple trading system you have confidence, in only focusing on long term breakouts and having the courage to let a trend run.

Most traders can’t do the above, that’s why they never make money fast and end up losing.

FREE ESSENTIAL TRADER PDF'S AND MUCH MORE

On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF's visit our website at http://www.net-planet.org/index.html

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Forex Trading Strategy

Forex Trading Strategy: "

* Have just a little money to invest, so you need to be sure any investment you buy is low risk and yet high yield?
* Sobered to know only five percent of traders actually make healthy, regular, long-term profits?
* Heard of others taking big profits in forex, but don't know if an ordinary person like you could do the same?
* Trying to patch together a winning forex strategy from bits and pieces of other people's advice, but finding it just isn't working consistently?

If any of this describes you, and yet you want to start making profits in one of the biggest, most profitable markets in the world -- a market brimming with opportunity for huge, rapid gains -- then read every word on this page before you invest a penny.

Because you're about to discover a Forex trading strategy which will change your fortunes. It's a new, simple, effective, consistently profitable forex strategy. And it's going to set you up for a life-time of money-generating Forex trading. Either as a day trader or a swing trader!

Within a few days from now you'll be able to stand in the market and trade currencies with confidence and professionalism...as often as you want...whenever you want! Keep reading!"

Tips On How to Start Trading Forex

Tips On How to Start Trading Forex
By Amy Wells

If you've decided to jump in and check out the Forex, or foreign currency market, there are a number of things you should keep in mind as a beginning trader. Your experience with Forex can be a long and profitable one, and it is essential to be prepared at the onset so you can start leveraging your tools and resources at once, and start building experience.

To get started, once you've located a brokerage you would like to work with, you should open up a demo account, so you can start making practice trades. When you are ready to open a real account, its a good idea to also keep your demo account open. You will be able to test alternative trades with your demo account, which gives you the ability to keep learning and testing strategies. You will also be able to see if you are being too liberal or conservative in your real account, by testing out different trade amounts in your demo account and comparing the outcomes.

To become more successful with Forex, research is the name of the game. If you tend to jump in first and ask questions later, you may want to be a little more deliberate, and start by understanding the basics of how the market works, such as the trading terms and terminology that are used in Forex. There are many tutorials available on the Internet, and much of the basic information can be accessed at no cost.

You should also stay informed with current events, such as political, social and economic factors that can effect a country's currency rates. While you don't want to feel overwhelmed by a barrage of information, Forex trading is fluid, and these external factors play a part in currency fluctuations that impact your trading.

Probably the most important piece of advice is to have a money management plan in place. You should only use money you can afford to lose when you invest in the Forex market, and have only a set amount of money at risk. There are no guarantees in Forex trading, and you don't want to get wiped out. In addition, you should be especially careful when trading on margin, which is borrowed money to trade with. Margin money is not free money, and if you can accumulate bigger losses if you are trading on too much.

Forex trading can be fun and profitable, but it does carry a number of risks and uncertainties. By doing your research, practicing and shadowing with a demo account, and carefully managing your money, you can minimize your risks and increase your success with Forex.

Amy Wells is an enthusiast of forex trading and writes and reports on consumer finance issues. You can get
more information on the basics of forex
trading at: http://www.forex.yourtechtool.com/Currency-Exchange/Currency-Exchange.php

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Before You Begin Forex

Getting your feet wet-Beginning Investing:

 "If you can’t wait to get started, you don’t need a lot of knowledge about the Forex market, etc. Start by being a conservative investor with a low risk tolerance. This will give you a way to making your money grow while you learn more about Forex investing."
Even if you're an active trader in stocks, you may not be prepared to invest in forex, or the foreign exchange market. Forex trades 24 hours a day from 5:00 p.m. ET on Sunday until 4:00 p.m. ET Friday, so you won't hear those opening or closing bells.
One suggestion first google Forex practice trading and use a site to make paper trades to get use to how it works and potential.
Getting your feet wet-Beginning Investing:

Institutional Forex System - Is It Worth Your Money - Let Me Kno

I like the sounds of this system because you don't need to spend a lot of time each day trading.

Also, it sounds like this system eliminates a lot of the emotional upheavals of trading.

Institutional Forex System - Make Money Forex Trading Like a Pro:

"Work Less. Earn More!
Anyone with a computer and a few hundred dollars can do this and you're only in the market less than 8 hours per month! Imagine working from home every month the equivalent of 1 day at your current job and making more money than you do now. What would you do with the spare time? What would you do with the money?

Level the playing field!
Ever wish you could confidently and consistently predict which direction the market is heading on days when financial news is announced and the market goes flying? I will show you how banks and financial institutions always know and always profit, leaving individual traders in a dangerous guessing game often on the wrong side of the action!

Eliminate the emotion of trading!
The Institutional Forex System is designed to make money no matter what direction price moves. This is as close to a guarantee as you can get in the financial markets and it completely eliminates the greed and human emotion of trading. This is how large corporations, banks and financial institutions trade the forex.

Learn from 'The Shark'!
DC Bonta, Top International Money Manager previously with Morgan Stanley and TD Waterhouse (a division of Toronto Dominion Bank, one of the largest banks in the world) will reveal his Institutional Forex System for the 1st time ever! Nicknamed 'The Shark' in the trading pits for his ability to devour individual investors in the market, DC will show you the simple, consistent and profitable system used on specific financial news days by banks, financial institutions and large corporations who are 'in the know.'"

Institutional Forex System is it worth the money? What do you think - I'd like to hear from you!

FOREX Money Management Tips

FOREX Money Management Tips
By Timothy Rohrer

Whether you are a seasoned trader or new to FOREX, without a good money management it will be hard to ever make a dime. Good money management will be out a great trading system any day. Without knowing how to keep losses to a minimum will only jeopardize you’re trading efforts even if you have more winning trades than losing trades.

One of the worst mistakes traders make is trading without sufficient capital. This does not mean a trader has to have a lot of money to trade with, but enough to handle the movement in the market. The trader with limited capital will always be a worried trading looking to minimize losses beyond the point of realistic trading.

A good rule to follow is never risk more than 2% to 5% of your FOREX trading capital. Too many traders open mini accounts and begin trading heavily and end up margining out their accounts in a few months, if not a few weeks. Fore example, if a trader opened a mini account for $5,000, they should never trade more than $1 per pip. This way if a trade goes bad, the trader suffers a minimal loss.

Exercising discipline and following a specific trading plan is one of the most important aspects in FOREX trading. Discipline is also the ability to continue to trade your system even after you have suffered a loss. Emotional and revenge trading can easily wipe out entire accounts. Sometimes it’s good practice to ignore the dollar amount in a FOREX account and interpret the number of trades in pips only.

Think backwards when trading the FOREX market. Instead of trying to make money learn how to protect what you already have. If in the event that a trade does not develop in a reasonable amount of time or the market begins to form an opposite setup, you should employ the strategy of cutting your losses short to protect and preserve your capital.

Always use a stop-loss when trading. This will stop your position when the market moves too far against your position. Save your money to trade another day or on another trading setup. Too often traders are convinced of where they believe the market is going and lose their sense of reality and begin to trade on hope. They remove their stop-loss and hope the market will turn around, only to lose more money.

Trade light and never risk too much per trade. When in doubt of a trade, stay out of the market and wait for the trade to come to you. Use a system and follow the system without breaking the rules. Traders who are consistent and follow a definite plan are the ones that make money in the FOREX.

Tim Rohrer is an established writer and trader. To learn more about Forex trading, visit http://www.forex-investing.us

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http://EzineArticles.com/?FOREX-Money-Management-Tips&id=247263

Why Do The Best Online Trading Systems Frequently Fail?

Why Do The Best Online Trading Systems Frequently Fail?
By Chris Maddison

Why do Forex Traders fail? I have a theory.

At the time I decided to start forex trading (2 years ago) the Forex Boom was just starting. I really did think I had stumbled on that legendary pot of gold, and that I would soon be on easy street.

Here was a multi-trillion dollar online business where a smart guy like me couldn’t fail to make lots of easy money.

I’d read that over 90% of forex traders fail, but hey – that wouldn’t happen to me – I’ve got a college degree! If I learned the best forex trading techniques and studiously avoided the pitfalls, I’d be a top forex trader in no time!

So I invested in the best forex training course I could find, almost entirely dvd-based training, and it cost me more than $4000. It came on 10 dvds, with 14 hours of top quality forex education, and several pieces of software, including free forex signals software which was already set up with passwords etc… and ready to go. I even got a forex spread-betting account. Mmm… better still, now I can trade forex tax-free!

I also received access to the author’s web site and could see his daily forex trades. Every evening I could review his trades and listen to his commentary, and see how many pips he had made or lost. Most days he made about 20 - 30 forex pips – mostly in the GBP/Dollar market.

This would be easy!

The course covered all aspects of trading including preparation, record keeping, paper trading, even the psychology of forex trading. I watched the entire dvd set over a couple of days. Then I re-watched the dvds covering actual FX trades and particular forex techniques – he was a technical trader.

I coudn’t wait to get started. So I opened my spread betting account (another $5,000 but what the hell….). Oh, and I sent for the latest Mercedes and Ferrari literature - it wouldn’t be long now….

That was nearly 2 years ago.

So do I have the Mercedes or the Ferrari? Nope! Have I made my fortune? Not yet!

In fact I’ve lost money – lots of money!

I haven’t lost my confidence in the forex market as a way to make money online, I’ve seen and met too many traders who make good money trading the forex markets. I know it’s possible, I’ve seen it done.

So it must be my system! So I invested even more money.

I bought the very best online forex trading systems – but only after I had carefully checked their testimonials and ensured that people were making serious money with them. I also bought books – lots of books. Books on forex training, books on forex trading, books to compare forex trading systems. I also bought downloadable forex courses and forex guides, I studied day trading systems versus long term trading systems - I was determined to succeed and make money in forex trading.

So am I making money now? Not really!

But at last I know where the problem is and why I have failed. It hurts to admit it, but…

The problem is ME.

Yep- me! I’m the problem.

I now know that my approach, my style, my methods, were all letting me down. Even when using a proven winning trading system, I would lose money.

And for a long (and very costly) time, I hadn’t even realized it. It wasn’t because I didn’t invest enough money either.

I now accept that I can purchase a winning forex trading system online for very little, and that a top forex course will cost very little too. Indeed, there are a whole range of very affordable forex resources and training out there.

I can quickly and easily be ALMOST fully equipped to make money on the forex markets. Almost?

So what’s the missing link? What’s the difference between the winners and the losers? Who else should I consult to be the complete forex trader?

Well - me… It’s me!

I’ve identified a whole load of personal traits and deficiencies that have prevented my success – (and very uncomfortable reading they make too). Words like self-discipline, concentration, resolution, dedication and honesty come to mind.

I’ve also learned that MOST available forex tutorials fail to cover this topic adequately – probably because their writers are successful forex traders who already possess the vital ingredient that the rest of us lack. They just don’t realize it’s a problem.

What’s the problem?

In a sentence – “Most forex traders are incapable of sticking to the systems they have learned”. That’s why most forex traders fail.

So now I have written “The Missing Link, the other successful forex trading strategy”. It’s nothing to do with entry or exit points, or technical analysis, or news trading. It’s everything to do with attitude and mind-set- and provides a totally different set of trading rules without which even the most successful forex trading strategy can fail.

The author is a one-time rock musician turned businessman and writer., based in the UK. His interests are music (of course), marketing, and trading. He absolutely hates to lose money!

If you would like a download of his "The Missing Link" forex book which expands greatly on this article, visit his forex resource site at http://www.forexfoundry.com where you will learn how to obtain a copy.

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3 Things You Must Have For Successful Money Making in Forex

3 Things You Must Have For Successful Money Making in Forex
By Greg Phillips

The Forex market is huge. In fact over $1.9 trillion are traded every day across the globe. These trades make Forex the biggest market on earth today. And the beauty of Forex is, anyone can trade Forex online.

Surprisingly, a lot of regular stock traders are not aware of the Forex market. This is because the Forex market has only recently been open to public trading. As a matter of fact, before 1995, only organizations such as banks and large corporations who needed to obtain the necessary amount of foreign currency for a particular project were allowed to trade on the Forex markets.

These days, the Forex system is a fast growing market, since many people are moving towards online Forex profiting. The movement of money across borders accelerated with the advent of computers and the market became a continuum, trading through the Asian, European and American time zones. Large banks created dealing rooms where hundreds of millions of dollars, pounds, euros and yen were exchanged in a matter on minutes. Today electronic brokers trade daily in the forex market, in London for example, single trades for tens of millions of dollars are priced in seconds. This new phenomena has also resulted in a competitive environment where different companies offering Forex profiting trading services are vying each other to get their share of customers. This market is so competitive that firms are now increasing their leverage and slashing their fees to a great extent.

New to FOREX ? Don’t worry, getting started in FOREX profiting is easy. If you are a beginner in the Forex system here are the 3 things you must do in order to profit with Forex:

Look into good a Forex tutorial. Training in forex is an excellent source for gaining knowledge about the inner workings of day Forex trading. Through a good Forex tutorial, a beginner can learn basic trading skills and techniques in order to learn how to chart the market properly and even trade forex online. This is definitely something that is extremely important and useful for anyone choosing to become a Forex trader. A good forex tutorial will make forex easier but not foolproof. A lot of those who use these tutorials like the advantage of online availability. This is allows them to get started in trading while still learning in their free time. Also, take advantage of Forex training videos because they are a must have. These videos provide some basic charting knowledge, which is recommended before you start trading FOREX. FOREX charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect currency exchange rates, such as interest rates, bank policies, geopolitics, and even the time of day may affect exchange rates. An essential to chart forex. To daily chart forex will help you define the overall trend. FOREX charting is based on the principal ‘history repeats itself’. FOREX traders who study charts predict the market future by evaluating past market performance. A huge variety of FOREX charts are available in the market. Some charting methods are very simple, using a few FOREX indicators to show trading direction; other charts may include up to forty indicators and those are mainly for advance traders that are more skillful.

You don’t need much to get started with FOREX online trading. A computer with Internet access, a funded FOREX online account with foreign currency exchange broker, and a trading system should be sufficient to get things started.

Because there is a learning curve, and that curve can be costly if you don’t the right Forex software to make it easy and safe. I recommend you use one of the newest breakthrough pieces of software available. It's a new and completely automated Forex trading system which can make money for you while you sleep. Just install it, let it run and it does all the work for you while you make all the money.

FOREX can be very profitable but the risk which lies beneath is equally great. Remember to always trade with proper investment plan and strategy. Read books, attend courses, watch video seminars, read papers. Trade smartly, and gain the maximum out of FOREX, good luck!

Greg P. is an experienced writer, investor and webmaster. He also investigates for the webtradebureau.com. Learn more on Forex trading secrets to success go to; http://click-space.com/forex and http://webtradebureau.com/ecurrencyexchange.html.

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Market Timing – Don't Try To Predict, You Will Lose; A Live Example

Market Timing – Don't Try To Predict, You Will Lose; A Live Example
By Sacha Tarkovsky

I see traders all the time whose aim is to buy low and sell high in currencies but this does not work.

Trying to “buy low sell high” and predict market turning points is not the correct way to do market timing

You will lose, here we will explain why, with some live examples.

Why the bulk of traders lose:

The reason is traders try and pick tops or bottoms as they want to catch the exact turn of the trend for example, if prices are strongly moving to support they buy and “hope” support holds.

If you "hope" in forex you will lose base market timing on the strength and direction of prices only.

Most traders simply buy into support even if the direction and momentum is down.

This is a huge mistake.

Another way and examples:

What you need to do is wait for confirmation that support has held and prices are moving up.

Take a couple of examples we posted on the web.

Were using the futures as an example, but cash is the same logic.

Charting service you can look at is http://www.futuresource.com

We thought prices would decline in the British Pound on Monday, but waited for the recent triple top to hold and entered with confirmation from the stochastic - the ultimate timing indicator.

The stochastic measures price strength or weakness (read our other articles for a full explanation) as soon as the stochastic crossed with bearish divergence we entered.

You may say well if you traded into support you would have made more money – correct but that’s hindsight!

We entered with the odds on our side and have a profit so were happy.

Let’s look at another example.

The Yen.

We wanted to be short Monday and we have seen prices go up to test nearby double top resistance rather than just sell and hope resistance holds were waiting.

Were not going to enter yet resistance has been tested but we want short term momentum to show weakness and put the odds in our favor .

We will wait for the stochastic lines to cross with bearish divergence. At present there prices could go either way.

If prices do fall we wont have picked a top, but we will like the B Pound, have confirmation of resistance holding and price momentum turning down and have the odds on our side.

Never predict, get confirmation.

No trader I have ever known has been able to predict tops and bottoms and those that do will soon lose their money.

Always wait for support or resistance to hold and get confirmation that price momentum is in your favor.

This is a high odds way of trading and the best timing indicator is the stochastic.

It’s very under-used by traders but is the best timing tool for trades you will find 0 check it out and see.

FREE TRADING PLAN PDF + OTHER ESSENTIAL TRADER INFO

On all aspects of becoming a profitable trader and for an exclusive Free FOREX PDF visit our website at http://www.net-planet.org/index.html

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http://EzineArticles.com/?Market-Timing---Dont-Try-To-Predict,-You-Will-Lose;-A-Live-Example&id=471024

Major Currencies in the Forex Market

For those who are new to forex trading, go to Major Currencies for a great explanation of the four major curriences in the forex market.

Major Currencies:

"The United States dollar is the world's main currency. All currencies are
generally quoted in U.S. dollar terms. Under conditions of international economic
and political unrest, the U.S. dollar is the main safe-haven currency which was
proven particularly well during the Southeast Asian crisis of 1997-1998.
The U.S. dollar became the leading currency toward the end of the
Second World War and was at the center of the Bretton Woods Accord, as the
other currencies were virtually pegged against it. The introduction of the euro in
1999 reduced the dollar's importance only marginally.
The major currencies traded against the U.S. dollar are the euro,
Japanese yen, British pound, and Swiss franc."

Beginners Education in Forex Trading - Find The Best

Beginners Education in Forex Trading - Find The Best
By Tiffany Walker

If you are looking for a beginners education in Forex Trading the best place to look is on the World Wide Web. Simply type in a “beginners education in forex trading” into a well known search engine like Google or Yahoo and you will be presented with scores of websites offering you step by step articles and also full downloadable e-books and e-courses on the subject. You can get this type of material from either an affiliate marketing type site that specializes in linking you to the different Forex traders or you can go directly to a Forex trading site.

Most Forex trading sites offer a beginners education in forex trading. Sometimes this is conveyed through a Help or FAQ section on the site and other times it appears in a series of articles. Some well known futures trading companies simply put all of their beginners education in forex trading right on their site as they take you through the process of actually doing some trades.

Although learning as you go will probably work for most people it might also be a good idea to invest in an e-book or check out some of the more general sites that offer free online how-to articles and guides about a beginner's guide in Forex Trading. This is because any mistakes that you make as a beginning trader could be expensive, especially if you have never gambled with funds by investing in the online futures market before.

There are all kinds of sites on line that can easily take you through the entire process so that you are well informed before you trade a penny online. These library style sites contain compendiums of articles that will teach you everything that you need to know about futures trading including puts and calls, expiration and option values, exercising options, taking profits on option trades and selling options outright.

Tiffany Walker is an author who works for various financial publications online. Read her most recent articles here: Beginners Education in Forex Trading.

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New to Forex Trading?

Are you new to forex trading - consider getting this informative forex ebook before you spend money an any forex system.

Forex trading | Online forex trading system course book:

"One of the problems that many people have in the forex (and other) markets is their wanting to buy, ready-made and off the shelf, a turnkey solution. That is, they want to buy someone else's system and just implement it and make money without thinking too hard. This attitude is all wrong. If it were that easy no one would work and everyone would trade. But these nicely packaged solutions, usually in the form of e-books, are real money spinners. That is why they will be pumped out, year after year. Different, format, different cover, same message. 'It's easy, just buy me, I'll show you the way.'

Successful traders develop their own system."

FOREX Trading - 5 Common Novice Trading Mistakes

FOREX Trading - 5 Common Novice Trading Mistakes
By Sacha Tarkovsky

In forex trading the odds are that 90% of traders lose. While forex trading looks simple it is not and if you want to join the winning minority don’t make these common mistakes.

Here are your mistakes to avoid in no particular order of importance.

1. Trying to buy success

Its tempting to buy one of the courses or e-books sold on the net that promise you wealth for around $100.00, but common sense should tell you cant buy success in the manner.

If you really want to buy one - ask for the real time track record and see the profits the vendor has made.
After all if he has made no money why should you trust his advice?

You will find in forex trading that most of these courses are sold by writers who have never traded in their
lives, or failed brokers.

In most instances you won’t get a real time track record.
Don’t fall for the hype.

2. Don’t day trade

If you really want to lose money go ahead and day trade it’s the best way to wipe out your account equity quickly.

The odds are against you and the theory that you can tell where prices are going in such a short time period as a day is nonsense.

3. Understand and have confidence in your method

If you buy a method or do you own make sure you understand the logic it is based on or you will not be able to follow it with discipline.

If you don’t have confidence in your method you won’t have the discipline to follow it.
If this occurs you don’t have a method at all!

4. Choose a simple system

It’s a fact in forex trading that simple systems work best and only contain a few indicators.

The more complicated a system is the more likely it is to break in the brutal world of trading.

Simple systems are easy to understand, easy to apply and have the best chance of making you money.

5. Work Smart Not Hard
There is no correlation between how hard you work and how much money you make. You need to work smart not hard.

Get a simple system and once that is done and your trading should take an hour a day or less.
Many traders are constantly chopping and changing systems looking for the holy grail but sadly it doesn’t exist.

You can do it

The fact is everything about forex trading can be learned and anyone can learn the basics of good trading.
To do this you must accept responsibility for your destiny.

No one else will give you success it comes from within.

All the information you need to start trading forex for success is on the net and it’s free.
Get started by getting studying a technical breakout system and adding filters and you will see how easy it is.

To succeed you need to work smart, learn a method you have confidence in and then finally, have the discipline to trade it for long term success.

FREE TRADING PLAN PDF + OTHER ESSENTIAL TRADER INFO

On all aspects of becoming a profitable trader and for an exclusive forex basics PDF visit our website at http://www.net-planet.org/index.html

Article Source: http://EzineArticles.com/?expert=Sacha_Tarkovsky
http://EzineArticles.com/?FOREX-Trading---5-Common-Novice-Trading-Mistakes&id=475894

New to Forex?

New to Forex?

I would recommend that anyone who is new to Forex Trading go to Baby Pips and work through the 'school courses' that they offer - if you are real new you'll want to start out with their 'Pre-School' course which has lots of great information for newbies.

It's a very well written website and is written from a neutral point of view (doesn't promote someone's trading course in their informational material.

(However, one word of warning on their advertisements that are listed: because this is such a great place for beginners to start - it's also a great place for those who are selling systems to advertise - so beware.

I would advise you to thoroughly check a forex system out before you buy! Do some research on Google (and other search engines) to see what other people think about the system. Find some good Forex Trading forums and ask for opinions about the system there).

Usually it's best to paper trade first and then start trading with a fairly moderate investment first. But, there are alternatives out there in which you can start out with a smaller investment.

More on that later....

More Great Forex Info.

Forex Trading Newbie Question

I'm just now beginning to look into Forex trading, and wow, it looks like there is much to learn! I have a newbie question for anyone who can help...How much money does it takes to get started...can you start on a shoestring, or does it take a significant investment to get rolling. I'd be really interested in hearing from those that started with a "smaller" investment, and how they went about building from there.

Thanks for any input!

Garry

Understanding Currency Trading Dynamics

Understanding Currency Trading Dynamics
By Steven Feder

Most books and courses on the subject of currency trading say that it is normal for beginners to lose money at first. Some even go as far as to say that it is normal to have a losing streak that lasts several months! This philosophy stems from the rationale that after losing significant amount of money, you will have more experience and knowledge in your future trading endeavors. If you went by their standards, how much of your hard earned money will be left in a few months? This type of attitude sets you up to fail. Why enter a battle if you are destined to lose?

The only purpose for such advice is for currency and futures brokers and dealers to make money on the spreads and commissions that you will pay to them. More often you trade, more profits for your broker or dealer. Day trading in its purest form may have worked in the late 90`s for traders who were trading volatile high tech stocks. Some traders also called "Scalpers" were getting in and out of positions in matters of minutes, even seconds and were making their profits on small differences between bid and ask price. However, those days are now gone.

In currency trading, if you are planning to scalp, or if you are planning to jump in and out of positions all day long you will not last long. I can guarantee you that. Also if you plan to purchase an X amount of Euros, GBP, or Swiss Francs and just forget about them in a "buy and hold" fashion most likely you won`t get anywhere. Currencies do not behave in the same fashion as stocks or stock market indexes. Well, if you should not day trade and you should not buy and hold, what should you do? The best approach to currency trading is called swing trading or short term trading where you hold your positions for periods anywhere from few days to few weeks, and very rarely for a few months.

Please visit the website:

http://www.forexsimplesystem.com

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http://EzineArticles.com/?Understanding-Currency-Trading-Dynamics&id=119664

The Two Biggest Mistakes New Forex Traders Make By John Angelache

The Two Biggest Mistakes New Forex Traders Make
By John Angelache

If you’re new to trading the forex market then this article will help you avoid two costly mistakes.

As you may already know, the forex is the largest financial market in the world. Over $1.5 trillion dollars pass through it on a daily basis. Due to its size and liquidity, the forex is fast becoming the trading forum of choice for many investors.

New forex traders need to be careful. The forex, like any other market, has its own special risks. However, the two biggest mistakes new forex traders make are common to any form of investing.

What Are These Costly Mistakes?

Well, the first one is: Getting bogged down with technical stuff. In common terms, that’s referred to as “paralysis of analysis”.

Like most financial markets there are an almost indefinite number of factors one can look at before making a trading decision. All sorts of indicators exist like support and resistance levels, moving averages, pivots, oscillators, Fibonacci and trend lines.

The big problem for new traders is these indicators create confusion more than anything else. The solution is to find a trading method that simplifies the process. Perhaps the simplest trading method is one that relies on only two or three easy to measure indicators. Anything beyond that stifles most traders.

The second mistake is…

Letting Emotion Dictate How You Trade!

All investing markets are driven primarily by the emotions of fear and greed. Whether we like it or not that’s just the way it is.

Panic selling and holding on to a position to squeeze out every last pip is typical. But emotional trading leads to bad decisions and, usually, an empty trading account.

Keeping your emotions in check is actually not that hard. First of all, go into any and every trade with a complete plan. Know when and where you’ll enter and exit. Determine ahead of time where you’ll place your stop losses. Secondly, don’t abandon your plan in the heat of the battle. Keep your objectives in sight and follow through.

One more thing: Paper trading properly will help you avoid these mistakes. Pretend your demo account is real. Find a simple trading system that relies on two or three indicators at most and…

Master It During Paper Trading!

This way you’ll go into the market armed.

By making each trade as real as possible, you’ll learn to develop trading plans and stick to them. Again, it’s all about simulating a real experience in a practice environment.

In conclusion let me just say this: (1) Find a simple trading system that won’t bog you down with too much analysis and learn it. And… (2) Learn to take emotion out of your trading decisions by following the guidelines above. You’ll become a better, more successful trader.

John L. Anghelache publishes a free online
newsletter that helps beginners to the forex
market trade for lower risk and higher profits.
Go to… http://www.ForexProfitSystems.com/FTMEzine.html

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automated forex trading system with a metatrader Expert Advisor

Looking for a simple forex trading system? Take a look at this system!

automated forex trading system with a metatrader Expert Advisor:

"A Simple Automated Forex Trading System That .....

* Uses No Indicators
* Averages +158 Pips per Month
* Is a True 'Set and Forget' Method
* Includes a Metatrader Expert Advisor for Auto-Trading"

# Requires no technical indicators
# Uses a 'Set and Forget' strategy to free up your time
# Makes only 1 trade per day at the same exact time
# Requires only 5 minutes per day (or less)
# Is fully automated with a metatrader Expert Advisor (EA)
# No losing month for over one year
# Averages +158 pips per month
# Average returns of 5-25% per month"

MentorMeForex Course - Learn Forex - Mentoring You All The Way Through

Great Idea! Get a Mentor for your Forex Trading.

MentorMeForex Course - Learn Forex - Mentoring You All The Way Through:

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Introduction to The Psychology of Trading IN THE ZONE By Cynthia Macy

Introduction to The Psychology of Trading IN THE ZONE
By Cynthia Macy

Most amateur investors will bail out of an investment program after three straight losses.

How you handle losing trades psychologically is a cornerstone to your ability to prosper in the markets. Losing properly (by losing small and continuing to make
your trades) makes winning possible.

You have to learn to accept your losses, because if you're not willing to take the chance that a trade could lose a pre-defined amount (by using a stop), you will be afraid to trade or will be scared out of a good position as soon as you get a small profit.

This defeats the goal to score big when you are right. A successful trader's mindset must accept losses as a necessary and beneficial part of the trading process when handled properly.

You must have the discipline to always cut your losses or keep them small. You must resist the temptation to say to yourself “It will come back”. That type of thinking has ruined many traders.

This is the main thing that will allow you to stay in the game long enough to become successful. If you have discipline and patience, the end result will pay off for you. After all, this is the greatest game in the world, and it's the fastest way to wealth!

When I'm in the zone as a trader, I am totally focused and absorbed in the moment. Time seems to expand, my mind is clear, and I know what is coming next. My indicators speak clearly to me and I obey them automatically.

And being a part of this “now” moment is what makes me, as a trader, perform at the highest level. My ego is not dreaming of riches or fretting over bills to pay – it's just along for the ride. My trading is not tied to my self-worth as a person.

You will reach your trading goals by increments – once you accomplish one goal, you celebrate that success and then set another higher goal.

Peak experiences seem to occur often in what many individuals call “the zone”. “The zone” is a state of transcendental well-being, an altered sense of time, or
being on a high, a state of focused energy, a euphoric state of optimal performance, exhilarating, uplifting, with a sense of mastery and control and invincibility.

Others describe the zone as radiant happiness, laser-sharp intuition, a total absorption in the present moment, with no self-consciousness or distractions. This state of mind has been called “intrinsically rewarding” because it epitomizes the love for the game itself, and not so much the outcome. All great traders have a basic love for the game itself because the emotional rewards are so great.

The zone is a rarely achieved psychological state, but once you have been there, you will want to return to the zone again.

One of the keys as a trader is that you must spend the time necessary to make trading skills “automatic” and create winning trading habits. Preparation and
practice make for proper skill development. By making these actions automatic, the mind can be totally absorbed within the zone.

What is the key to success? Dedication. The more you practice, the better you get. And you MUST believe in yourself and your ability to succeed. Keep your thoughts and behaviors positive, and you will increase your odds of a favorable outcome in your trading.

Trading is an art form that can be developed with time and plenty of practice.

Go slow, trade with caution, obey the indicators, and only trade when you're not tired or feeling stress.

Cynthia Macy is the co-author of 3 forex training ebooks.

For more comprehensive trading information, visit her other websites at:

http://www.professionalforextradingonline.info

http://www.successtrading2000.com/forex

http://www.shortterminvestingsite.com

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Forex Trading System - A Key To Successful Forex Trading And Trading For A Living By Peter Lim

Forex Trading System - A Key To Successful Forex Trading And Trading For A Living
By Peter Lim

Losing money in forex?

Every one has his days when no matter how well he has planned out his trades, he may find some of his trades not performing to what is planned. It is only natural for one to feel upset, but for the follower of a forex trading system, making money or losing money from that trade is not the paramount objective.

Why is this so?

For the trader who employs a forex trading system, he can still face the losing trade with a smile, because he has had followed through the trading signals in a disciplined way, and it is only when a trader follows a system, he can be sure of keeping his losses small and to live to trade again another day.

By using a forex trading system, the trader can have a cool head, and can face his trades rather unemotionally. He can execute his trades following pre-determined price levels of initial stop loss, trailing loss and computed and projected price profit.

He knows his tolerable level of loss, his threshold of pain - and of course, his risk to reward ratio even before he trades.

Now when a trader has a trading system and follows through the trading plan, making profits is a natural result when he makes a correct trade. But when his trade is wrong, his forex trading system will very quickly show him that the direction of his trade is wrong, so that he is out of the game fairly quickly.

I am often flabbergasted at some very broad claims of some traders who condemn day trading systems and relegate them to the garbage bin. When you look at forex trading systems, review them quickly by peer recommendation whenever possible. By peer recommendation, I mean you can ask existing traders their experience on the trading system, and how they are doing with it. Posting to the numerous reliable trading forums will allow you to receive some independent reviews fairly quickly. At the same time, my personal experience, and that of many other professional traders is that day trading can be profitable, though it is never easy to day trade. Otherwise, how is it that so many day traders are able to earn their income day trading the short swings of the market daily for a living? So it is important for you to have a broad view of forex trading systems if you are contemplating of learning or purchasing any trading system that relates to day trading.

If you ever wish to trade successfully, whether you day trade or swing trade, it is important that you have a trading system that will allow you to approach trading in a disciplined manner. It is only when you are a disciplined trader that you can see consistent large gains and small losses.

Need more information about trading forex to provide a consistent income? Discover for free 21 trading systems and techniques devised by professional traders in forex by visiting Successful Forex Trading-Know How To Trade For A Living or http://www.cashflowpc.biz

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How to Select a Forex Broker By Andrew Daigle

How to Select a Forex Broker
By Andrew Daigle

Selecting a forex broker is not an easy process. You need to think about what kind of trader your are and select the best forex broker for your style of trading. If you're a day trader and like to execute many trades each day, you may want to find a forex broker that offers low spreads. We pay spreads for exvery trade we execute and the larger the spread, the more commission you will pay to your broker for your trades.

A good forex broker will explain various forex trading systems and strategies to their clients and will assist in their process of putting these strategies to work. The advice from forex brokers will basically. The advice you receive from your broker will basically include technical analysis approaches and research methods followed by experienced traders and brokers that boost the client trader's performance as a forex trader.

In the earlier days of forex trading, the banks and large financial institutions had sole access to the forex market, but now with the advent of the internet technology, things have changed. As more novice traders have taken up forex trading as a home based business, the forex brokers are also realizing the importance of this trend and moving away from the conventional banks. More and more forex brokers through internet based businesses and offer their clients a complete suite of services based online. Today's forex brokers recognize that their customers are no longer the rich individuals or large institutions and have tailored their forex trading strategies to conform with the needs of their new, home based, middle class client. They know that the stakes for this type of client are lower and that they wish to maximize their profit but have a different appetite for risk. Also, in terms of certification, it is useful to work with an NFA (National Futures Association) member broking house.

Forex brokers that offer sound advice and have well recognized and verified credentials are, of course, the ones that you should be looking for. Additionally, don't rely blindly on the advice of a forex broker. If it sounds too good to be true, it probably isn't. Learn to trust your own judgment and ask your forex broker lots of questions. A reliable broker won't be bothered by this.

Let your needs guide you and your trading level help you choose the right broker for you. It will typically depend on whether you are a novice or an experienced forex trader. There are many forex trading brokerage firms that are targeted towards the beginner in forex trading. These will generally offer detailed research material and plenty of advice for the newbie trader. Additionally, these types of firms will provide access to forex trading software that will simulate the real trading environment and help to make the forex trader accustomed to using the tools of the trade.

For experienced forex traders, these types of detailed instructions may not actually be required, since these individuals will know their way around the forex market. For them, there are different forex brokerage firms that will offer advice with a greater emphasis on the logic behind the forex trading strategy and will go into greater depth on this matter. To find the best fit, read about various forex brokers, ask friends, ask about the forex broker's package offering and take the trials offered by a few of the online forex trading firms.

Andrew Daigle is the owner, creator and author of many successful websites including a free forex training web site ForexBoost and CashCurve, a resource for making money online.

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