Forex Made Easy - Because It's Really Not That Complicated

Forex trading is a relatively new concept in the world of financial investments. The high leverage offered and the 24-hour availability of this market is simply too irresistible to ignore.

However, many would-be Forex traders are afraid that Forex trading is only meant for the 'smart', or people with exceptionally high intelligence.

Although common sense is obviously required, you'd be surprised to find out that most profitable traders only have an average IQ! In fact, there are many university scholars who fail miserably at Forex trading.

You see, succeeding in the Forex market actually has very little to do with how intelligent you are. The keys to being a profitable trader are to simply have common sense, discipline, an open mind, and a willingness to learn. That's really all you'll need.

Now, don't get me wrong - I don't mean that Forex trading will be easy to learn. You'll surely have to put in hard work, and have the persistence to carry on despite inevitable setbacks. Your tenacity to overcome obstacles will be a better predicator of your level of success as a trader, than your IQ score.

Many university scholars and 'top students' often think they're smarter than everyone else, and they let complacency and arrogance take precedence over humility and a willingness to admit mistakes.

Learning From Mistakes

This is the one factor which causes many people to fail at Forex trading. They refuse to admit that their trading decisions are wrong, and stubbornly hang on to obviously bad trades.

Admitting that you've made a mistake is not easy. But the market doesn't care about how you feel. If you go against the market, you'll be the one who has to face the consequences.

So it's really a matter of conquering your own mind.

Be willing to accept temporary defeat, if it makes you a better trader at the end of the day. You may lose a battle now, but in the long run you'll be in a much better position to win the war.

To learn more, Click Here to download my free 26-page guide, "Forex Trading Traps!"

Harold Hsu is the owner of ForexSystemProfits.com where he provides premium Forex trading tips and resources.

The Best Time Of The Day To Trade Forex?

The great thing about forex trading is that the markets are open 24 hours a day during the week and you could trade the markets all day every day if you so wished. However if you've been trading for any length of time you will know that there are some periods of the day that are more volatile than others.

As well as times that are more volatile than others, there are also sessions that are easier to trade than others.

Let's start by discussing the most volatile period of the day. This is nearly always the period between 1.30 and 4.30PM UK time and most affects the major currency pairs, particularly the US dollar pairs.

Why? Well because not only is this the time when American traders are just beginning their trading day, but more importantly it's the time when the major economic data releases are announced, and these can often cause sharp movements in the dollar currencies.

So is this therefore the best time to trade if you're a forex trader?

Well if you're one of the very few people that are able to make consistent profits from trading the news, then yes it probably is the best time of the day to trade, but for most of us, this period is simply too volatile and unpredictable. These data releases can make a mockery of technical analysis so I personally don't really like to trade during this time.

The best time of the day to trade in my experience is the start of the European session which is around 8.00 to 12.00 UK time, although this could even be extended to include the hours between 6.00 and 8.00 as well because you often get some strong moves during this period as well.

Apart from a few economic announcements from the UK and other European countries, which usually do not have a major impact on the markets, this session is not only heavily traded but it's free of any major market moving announcements. Therefore it lends itself perfectly to technical analysis which is why so many traders, including myself, like to trade during this time.

Of course not everyone around the world can trade during this time due to time differences, but it is unquestionably the best time to trade the markets.

If you are based in Asia or Australia, or even the USA, then you could still make consistent profits from trading, but your best bet would probably be to trade the Yen-related pairs such as the GBP/JPY or the USD/JPY as the other major pairs such as the GBP/USD and EUR/USD are extremely quiet during the Asian session.

So to sum up, although you can potentially make profits at any time of the day, the best time of the day to trade in my experience is during the start of the European session because you get strong movements and trends and you don't have to worry about the market-moving US data releases that often occur later on in the day.

James Woolley runs a blog offering tips and strategies related to forex currency trading and a review of Forex Trading Machine.

Automated Forex Trading Software - Beware Of These Trading Software

These days, if you search for the phrase 'Automated Forex Trading Software' you'll be bombarded with countless offers that claim to give you instant wealth.

"Make $500 in barely 1 hour!"; "Just set it and forget it!"

Such ludicrous claims are unfortunately believed by many unsuspecting people. Can one really get rich in the Forex market simply by purchasing and using such so-called 'automated trading software'?

Please give me two minutes to explain my views, and see if you agree with me.

Issue #1 - What's the formula?

One of the biggest problems I see with such software is the fact that no one (other than the software developer) knows how it works. You see, with the boom of the internet revolution comes a whole new generation of 'anonymous sellers'. These are people who sell products using incredible claims, and yet hide their true identity behind the anonymous blanket of the web.

Now I don't know about you, but I personally wouldn't trade with any software that I don't know how it works. It simply leaves too much space for scammers to operate.

From another point of view, if there really were trading software that can consistently make money for you on autopilot, don't you think that there would be powerful (and rich) individuals who would purchase this technology and keep it to themselves? I certainly would.

If something sounds too good to be true... well, you know the rest. All the truly profitable traders I know got that way through hard work, persistence and having common sense.

Issue #2 - The dependency problem

Assuming that profitable trading software did exist, and you've been using one for some time now... what happens if it stops working for any reason at all? Where does that leave you? You'd be caught dead in the water.

You see, I'd never advice anyone to put the fate of their finances in the hands of a piece of software. If you're lazy and don't want to spend the time to learn how to trade for yourself, then find a trustworthy friend to trade for you, or put your money with professional traders.

There are no free lunches in life... and trading in the Forex market is no different.

To learn more, Click Here to download my free 26-page guide, "Forex Trading Traps!"

Harold Hsu is the owner of ForexSystemProfits.com where he provides premium Forex trading tips and resources.

Online Forex Signals - Trading Signals For The Online Forex Trader

There are many hopeful traders who wish to find a reliable online Forex trading signal to follow. These are usually people who don't have the time to learn to trade for themselves.

On the other hand, there are other traders who completely avoid all forms of Forex trading signals. These people are very skeptical and are very careful about being scammed by online conmen.

If you belong to the former group, this article will hopefully give you something to think about.

What Are Online Trading Signals?

Trading signals are services that tell you when to enter a buy or sell trade. They are typically delivered to you by text messages and/or Email.

Subscription to such services can cost as little as a couple hundred dollars, to as much as a few thousand dollars a month.

Be very careful when choosing a trading signal service to subscribe to. Here are two things to think about if you're looking for one.

Tip #1 - It Won't Be Cheap

If a trading signal service is consistently profitable, chances are that it will cost much more than just a few hundred dollars a month. You've probably heard of the phrase "there's no such thing as a free lunch", and this is no different in the world of Forex trading. A successful signal service that can make you tens of thousands of dollars every month so will most certainly cost you more than just a couple hundred bucks!

Tip #2 - Stay Away From Automatically-Generated Signals

Never subscribe to a service that that's generated by computers alone. Such 'automatic' signals have no way of understanding the current market outlook or investor expectations.

You COULD certainly subscribe to such signals if the market behaves in predictable ways, but unfortunately more often than not, the market doesn't.

To learn more, Click Here to download my free 26-page guide, "Forex Trading Traps!" Harold Hsu is the owner of ForexSystemProfits.com where he provides premium Forex trading tips and resources.

Human Weaknesses in Forex Currency Trading

There are different human weaknesses that are obstacles to become a profitable Forex currency trader. To avoid these weaknesses first we must know them.

The main human weaknesses are:

1. Fear

By using leverage we can make a lot of money in Forex, but we can also lose a lot of money. The situation in the currency market can change very quickly. Almost everyone is afraid to lose money. The fear of losing money sometimes paralyses inexperienced traders who miss good trades because of the fear.

2. Low Confidence

A little similar but different from fear is low confidence. Sometimes some traders start making good profits, but then, because of low or lack of confidence they are afraid to lose what they have gained. So they take only a little profit and run, wasting opportunities to make a really good profit.

3. Hesitation

When we hesitate we can't decide to enter a trade or not to enter. We are thinking and hesitating, while in the meantime missing best chances.

4. Greed

We want more and more. When we should take 1% profit we want at least 2%. When we have 5% profit we want 7%. But Forex market is very volatile and the situation can change quickly. Because of greed the profitable trade can change into losing trade.

5. Negligence

There is no place for negligence in Forex. A little negligence can cause big losses. Account's money sometimes gets lost because of tiny negligence.

6. Tiredness

It can be very tiring sitting in front of a computer and following trades. When we get tired it is easy to make mistakes and to lose a trade.

7. No Discipline

Without discipline there is no way to be a good and successful currency trader. A disciplined trader will stop losing trades or takes profit when it is the best time. Undisciplined trader will allow his emotions to take over and will continue trading hoping for the losing trade to turn into the profitable one. Or while winning, he or she won't take profit at the right time being greedy and wanting to take more profit. It is possible to control our weaknesses by being disciplined, but without discipline there's no way to be successful.

There are of course more human weaknesses that are obstacles to becoming a successful trader, but these mentioned above are the main ones. The way to defeat these weaknesses is by following a plan and by being disciplined.

Another way to avoid problems with human weaknesses is to use automated Forex robots. In chess robots often beat humans; similarly good Forex trading robots can be very good at currency trading. Like always in Forex we should never start using robots in real trades without testing them first trading on demo.

The author is a currency trader and an internet marketer. His hobbies are self improvement and the law of attraction. If you want to learn more about Forex go to:http://currencytradingmethod.com/trademachine/, where you will receive FREE e-course ($67 value). To trade in Forex easily with Forex Robot visit:http://www.manifestwealthmentor.com/forexautopilot.html

Forex Trading - How To Check Your Forex Broker And Avoid Forex Fraud

Before you start with forex trading you must have a broker. Be careful choosing the right forex broker because this market is not regulated like the other financial markets.

About $2 trillion Dollars per day are traded on the currency market each and every day. It is bigger than any other financial market out there. The main market participants are big companies, central and commercial banks and other institutional traders.

Compared to the stock or futures exchange, there is no forex exchange market. The trades are made directly between the traders. A forex broker gives you access to this market but only to a part of it. A currency broker can make his own prices. If you would open two accounts at two different brokers then you would notice that you will get two different prices for the same buy or sell.

This system of pricing and trading opens a door for fraud and scams. There are forex brokers out there that do not play correctly. It is also allowed for FX brokers to trade against their customers.

When you choose a broker be careful with everything. Check where the money is held, if there is any form of guarantee or security. Check the spread, that means how much is the average difference of the buy and sell price in your currency. Find out for how long your broker is in the game and if the company has any references.

Verify their address and phone numbers, test out the phone support of the trading desk. Check and verify any of the brokers licenses and find out if the broker is regulated by any trusted third party company or authority.

There are some great and serious forex brokers out there which offer excellent trading platforms and support. They are not necessarily more expensive than other currency brokers because they trade more volume instead.

Highly Recommended Reading: Online Forex Currency Trading Broker Forex Trading Click on one of the links above to download Nelson Woolwine's new and FREE Forex e-book.

What Makes A Good Forex Trading Software?

In my experience as an day trader with forex currency trading software is that it has the ability to give you all the correct information in all the right places in the market and that it then places it at your fingertips each day or evening.

Today the world-renowned forex trading software pioneers have learned to make it so that you can forecasts stocks, futures, commodity, forex, and ETF markets with nearly eighty percent in accuracy. Now you might say, wow that is a high number, but with the correct forex trading software, now that doesn't go to say that it will be a cheap version of software. But when you can predict at eighty percent what is a couple of hundred dollars anyway.

Other things that make a good trading software is that it combines intermarket analysis and it predicts moving averages to generate a consistently accurate trend in different forecasts that give you the confidence to take or make trades at the right time and keep you from missing out on the great trading opportunities of today. Next thing a software has to do you is give a precise forecast of the trend direction for the next one, two and four day periods. With a projection of the next day highs, and lows, also saying what the strength of the trend is. And my personal favorite extra a good software provides is a heads-up on the whether the market is expected to make, for example, a top or a bottom market over the next 2 days.

With that said, if you have a forex trading software with these things in it you will be so confident in the program's accuracy, you will be able to sleep at night knowing that you are in good hands with the manageable risk at hand. We'll provide you with free up to date extras and ideas for a good forex trading software at http://www.Prolificinfotoday.com and find useful trading software information.

Forex Trading - Are Currencies The Best Markets to Trade?

Forex Trading is catching on like wildfire amongst private traders, and there are good reasons for it. Forex is the largest known financial market in the whole world, and the most liquid to trade in. Also, the requirements to open a currency forex trading account are much less stringent than for stock trades.

The term "Forex" is short for Foreign Exchange. The daily turnover in currency markets is currently $1.9 TRILLION dollars. Amazingly, this is over TEN times the average daily turnover of ALL the global equity markets put together. It's more than 40 times the daily turnover of all securities on the New York Stock Exchange.

So what is Forex? In layman's terms, Forex trading means the simultaneous buying of one currency and the selling of a second currency. In other words, the currencies are traded in pairs, i.e. one currency traded for another.

Interestingly, only 5% of the turnover in daily forex currency trades comes from companies and governments buying and selling products and services from foreign countries. These entities then engage in forex trades in order to convert their foreign currency profits back into their respective domestic currencies. Amazingly, the remaining 95% of turnover is pure speculation, i.e. forex trading entirely for profit!

If you're new to FOREX currency trading, familiarize yourself with the most liquid currencies. These are the most traded, and where you stand your best chance of trading success. They include the US dollar, Euro, Japanese yen, British pound (also nicknamed "Cable"), Canadian dollar, Swiss franc and the Australian dollar.

The good news for small traders is that the Foreign Exchange Markets cannot really be manipulated. Their enormous size and liquidity, as well as the fact that forex markets are not under the jurisdiction of any one country means that no single investor can usually hope to move a major currency market in a serious manner (of course, there are always rare exceptions and George Soros' famous exploits in taking the British Pound out of the EMS is a famous and extremely rare exception to the rule).

Forex Markets entertain a wide variety of participants with varying goals. Some enter the market with a long term investment goals, while other are day traders acting for the extremely short term only.

Forex trading, involving foreign currencies on an exchange, is not centralized. It takes place via telecommunications. Also, currency trading is open twenty four hours a day. Currency dealers will quote all the major currencies in every time-zone in the world.

Forex currency trading can be an extremely rewarding business, provided you thoroughly know what you are doing. However, like any other business there are always risks (and potentially disastrous ones) for the novice who foolishly dives in without thorough preparation.

Where there are risks, there are also rewards. The upside potential, with limited downside risk (provided you know how to place trades with discipline and exercise excellent risk management) can be enormous.

Hence, in order to profit from trading in Forex, it is critical that you become an excellent student first and really STUDY forex markets in particular and good online trading principles in general. The Forex markets lend themselves particularly well to Technical Analysis, i.e. forecasting via price charts.

Some general awareness of current events around the globe, be it political or economic, is important in order to understand underlying driving forces. However, don't get too anal about this and focus your time on the hot air voiced by self-appointed economic market experts on business and market programs. Most of them know nothing about the process of trading itself, and their opinions are often plain wrong.

In conclusion forex trading can be a very attractive and highly profitable business. You can trade currencies very profitably from home and, depending upon your trading knowledge and appetite for risk, the sky's the limit as to how much you can make. However, be prepared in advance to invest a large amount of time and practice before you start to make money from forex trading on a consistent basis.

Discover FREE expert Trading videos, podcasts and articles packed with secret strategies to super-charge your Trading and rocket your profits. Dr. Asoka Selvarajah also offers you his vital new FREE report, "The 7 Deadly Mistakes Of Forex Trading". Visit http://www.ForexTradingRebel.Com right now!

12-Steps to Good Trading - Step 3 - Ego, Risk-Tolerance and Confidence - The Psycho-Enchilada

This step in the 12-steps to good trading will be the most challenging and will take the longest for most people to overcome. It will require the most maintenance over the life of your trading career and it will also be nearly impossible to learn from a short article like this but hopefully I can get you on the right track and help identify some resources and exercises to help.

Ego is really a tough thing for me to write about. I don't fully understand it and apart from my Christian viewpoint it wouldn't make any sense at all to me. Ego is that part of you that you refer to when you say "I." Its part of your soul as opposed to your spirit. Both reside in your body. Its everything you think you are. Your self-concept. It says "I am hungry...I am a winner...I am a loser...I am a Californian...I am a Republican...I am nice...I am clever...I don't believe that...I believe that more than anything...blah blah blah.." It's the inner part of you that is most influenced by the outside world and I believe outside forces as well but I wont get into that unless you ask.

Ego is the part of you that has been shaped over the years or the last five minutes along with your concepts of who you are and how you see yourself in the future. It is the part of you that you display and defend and its also the part of you that keeps you from living in the very now moment.

In step one of this series I emphasized how there are no destructive trading emotions in the very now moment. In the now moment fear cant reside because it is based on images of the future and past. Greed cant reside there either. Well, the thing that blocks easy access to that place is the ego. It always wants center stage. In trading rooms and in sports and everywhere in performance based art, the ego stands out. In trading rooms it presents itself in bottom and top pickers and calling trades from the past and announcing one-sided results. Said plainly, it usually shows up as boasting. The trader who boasts not only doesn't likely think he or she has an ego issue, but they certainly don't recognize that they are led by it. The danger to them in these cases is that they are not market focused but are running their trading business from the part of the self that is most subject to the winds of the world and are linked arm and arm with the most destructive trading emotions they can face (fear, greed & denial). It effects everything from their risk tolerance to their confidence which are the other two pieces of this enchilada so I will move on and tie them together and help you develop a plan to make sure your ego is in check.

The number one issue I see people have when working with them on their trading is not accepting risk. Its normal for us to want to avoid risk and that shows up as the normal thing to do when we come to trade. The trouble is that being normal in trading is being a losing trader and washing out.

Never makes it in trading. We have to be abnormal and take risks. Calculated risks of course and that is where having a system or method comes into play but it goes beyond that. Lets just assume you will have a method of approaching the market that will put the odds in your favor and that you will work at it and know how to use it. We also have to have very clear and realistic concepts about what trading is and align our expectations with reality. It is not something you can realistically try and squeeze in to your summer vacation and learn in a few weeks so you don't have to go back to work. Some of you are saying "yeah, of course not. Who would think that." Well unfortunately, and also understandably so, as the marketing in the trading education space paints a really rosy picture and more people think that way than you could imagine. Plan on a long learning curve and doing a lot of hard work. Plan on training your focus on learning to trade and not on money or exotic calculations of what-ifs as far as how much you could earn in a year or whatever "normally" comes to your mind. Prepare to be abnormal. We don't think about money much outside the development of our trading plan. If you do think about money then as quick as you earn it in your head you had better give it away in your head or you will be the one giving it away instead of earning it in reality. Again we think abnormally.

Would you want to go to a heart surgeon and have him chopping into you and at the same time thinking about the boat you are buying him on his lake? Or would you rather him keep his now moment eyes on your aorta? For that matter, would you want that same doctor to have had a speedy summer Internet Heart Surgeon degree program or put his time in learning the hard way (at John's Hopkins no less). I know that's not realistic, or at least I sure hope not, but it's the same idea as someone thinking they can speed through the process of learning to trade. After all, the heart is pretty much going to be in the same place give or take a few inches for all of us but the market can and will change daily or even quicker (yes, it at least follows the same structure most of the time).

What does this have to do with risk-tolerance you ask? Well if you choose to trade I just want to make it clear you are taking a big risk. Most wont make it but if you really get these first few steps down and make building a better you a priority along side your chart studies then you have a great chance. Most wont do that though. You are risking the time and chances to do something else more normal and you have to know that.

Now here is the kicker. Most people wont or cant accept risk because they are under capitalized. They can too clearly see the end of the road. You can learn on as little as you want, but it will effect your thinking. Fear and greed will get all over your face or try to anyhow and your ego will get invaded with denial and if you don't take those early steps I have already covered and stay in the now it will be very, very, normal. If however you do train yourself to stay in the now then the capital wont matter as much. I suggest you have at least ten times your margin amount if you want to help quiet fear and greed and be able to accept the risk. Some people need a lot more than that. Whatever amount it would take where you can look at your per-trade maximum loss and think of it about the same as if you misplaced a dollar or bought a raffle ticket from some kid. This is important to understand so if you don't please start a dialogue with me via email so we can go over this more.

Moving on to confidence now, and really each of these could be their own series. I just want you to be introduced to them and make it known that you will have to contend with these things. At the end I will give you some practical ideas for dealing with some of them. Confidence in your trading is important. Both in your system and your ability to operate it. You need confidence that the odds are in your favor if you do what you are supposed to do so that you can accept the risk and put a trade on and let it play out without gripping that poor mouse until it has no life in it. You need this confidence because without it your fear will block you from doing your breathing and getting to the now moment. I hope you can see how these three topics tie together here.

How do we get that confidence? Lots and lots of work. It requires many hours of screen time and replays. Technology now makes it really easy to get the operational side of your system down when there is nothing at risk. That is good even though it doesn't train you much on the more challenging part of trading, which is controlling yourself when it really matters. But replays and simulation are great for just drilling into your head the steps you take when you trade. Its vital that those things are automatic when you do get into live trading. You need the confidence that comes from doing the exact same thing hundreds or thousands of times. This is the same concept that US Marine Corps or other armed forces go through when they drill or train. All of their training is done in conditions that largely not life threatening. I am not sure spy-rigging counts because that just looks downright crazy. But nobody is actually shooting at Marines in training with hostile intent or rather, capability. Those in charge of the training know this and don't belittle it as being "not-real." They make it as real as they can and that's what we need to do in when we simulate trading. When those Marines hit the ground in actual war zones they act automatically. Not because they know the actual beach or woods or desert or towns but because they know how to move together towards an objective as they have done countless times in training.

I grew up around people just like that and have seen the payoffs and that is why it is so important to me to train thoroughly in my trading and also important that you do the same. Confidence comes from that and from the translation of that training into real live success in the markets. Plan on being abnormal here as well. Most wont do this.

Ok, now to the battle. The best way to keep your ego in check is to keep quiet until you do have it in check. Its not about you. Concentrate on becoming a listener. The next time you are in a conversation with your wife or husband or whoever, try and just listen. If you are jumping out of you skin because you need to talk then this is an area of struggle for you. If you don't even catch it until later that you went on and on about " I, I, I, me, me, me" then it is a dominant area in your life that needs to be addressed before successful trading will occur. Part of what the ego does is express emotions in packages. If you focus on the breathing and self-awareness techniques of steps 1 & 2 you will get better at getting in the now moment. The thing that deflates the destructiveness of all emotions and the ego is identifying the emotion from the now moment and calling it by its name. So if you feel fear or you feel the ego rising in your own unique pattern then what you do is say it. Say "fear, I see you and you have no power over me." If you are Christian, and I pray that you are, then really let the emotions have it in the name of Jesus. When you operate in the now moment and identify your feelings like that it deflates them. In other words it keeps you in self-control and in the moment and not subject to them. This like anything is a learned skill and will require you to be a good listener to not only others but yourself and what is coming up from inside you. The great thing is that while it deflates negative emotions, staying in control and recognizing positive emotions perpetuates the benefits. Understand me clearly here. I am not talking about visualizing the outcomes of fearful things. I don't want you to mediate on the negative stuff. Just call it by its name and tell it to leave because it has no authority over you. If you make this a habit your life will change like you cant imagine.

Now as far as risk-tolerance goes, you have to raise capital and stay in the now moment along the way. The less money you have the less you can do. Trading something like FOREX at Oanda is probably the best option for you if you are starting with very limited funds because you can trade fractional pips and stay in the game on little for a long time while you learn, but at some point you will have to add capital. Do not set yourself up thinking you will trade your way from $1,000 to millions. If you don't treat your opponents and your business with the proper respect it just wont likely happen for you. You may have a good hobby and learn a lot and that may be great in itself, but until you treat your trading as a start-up business with real capital needs it wont likely prosper. I pray that some of you prove me wrong, and I have seen it done, but they were really abnormal. If you try and do the same I would be as abnormal as you can in the places you can afford to in order to compensate for the very normal idea of starting with nothing or close to it.

Lastly, for confidence, plan on working and building a life of balanced confidence and keeping confidence in check and based on real training. If you find yourself down the road trading and needing layers and layers of confirmation before you take a trade then you drifted away from confidence to some blend of being unconfident and being overconfident. Being unconfident in your system and over confident in your ability to handle it on your own. Needing excess confirmation is like a farmer who says he will plant corn seed just as soon as he sees some tassels. It just wont work that way. He has to plan his crop (develop a business plan), buy his seed (raise his capital), plant it (release some capital), and then let the earth do its thing in its due course so he can harvest (evaluate the results and learn from them). Try and blend some of your personal traits that are strong outside of trading with your trading. If you are a mother or father and somehow are very patient with our kids then have confidence that you can use those same abilities in the market if you stay in the now. If you think about it, that is exactly what you do with your kids if you are one of those people. They make a big mess or if older kids, wreck the car or whatever, and you take a deep breath and just release in an instant all those destructive emotions so that we don't kill them. The same thing we do when we prepare to trade.

Anyhow, I covered a lot. Probably too much for one article but a couple of you probably made it this far. If we end up working together or if we already are then chances are we are already deeper into some of these areas and techniques. We will get to some chart stuff in the next article. Spend the majority of your time in these first three steps though and pick my brain or do whatever it is you need to do to get yourself in a position where you can operate from self-control rather then being dragged through life. There is so much more to say on these mental topics and more so I will write more later. Thanks for listening.

God Bless ~

Ryan

Ryan Watts is a full-time technical trader, money manager, and trading coach with over twelve years experience in short-term trading. For more information on his trading system and live trading room visit http://www.wattstrading.com

How To Calculate Profits In A Forex Trade

Unlike the stock, futures, or options markets, calculating profits in the foreign exchange market can be a bit more complex. This is because you have to transfer profits from the foreign currency you purchased back into your home currency.

This concept is best understood through an example. So, let's say you have 10,000 US dollars, and let's say the EURUSD is trading at 1.5000. This means that 1 euro buys you 1.5000 US dollars -- or, conversely, one US dollar buys you 0.667 euros (1 / 1.5 = 0.666). So, with your 10,000 US dollars, you are able to buy about 6,666.66 euros.

Now, let's say the EURUSD exchange rate jumps up to 1.5500 -- meaning that one euro can now buy you 1.5500 US dollars. Since the euro rose in value since you made your purchase, you can now sell your euros for more dollars than you initially purchased them with. In other words, you made a profit!

To realize your profit, all you need to do is convert the 6,666.66 euros you now have back into US dollars. Since one euro now buys you 1.5500 US dollars, you can simply multiple your quantity of euros -- 6,670 -- by the exchange rate (1.5500). The result is 10,333.33. So there you have it -- a profit of 333.33 US dollars!

Profiting By Selling a Currency (aka "Going Short")

Slightly more involved are transactions in which you go short -- in other words, in which you believe the exchange rate is going to fall. In such a scenario, what you are actually doing is borrowing the currency you believe is going to fall in value. So, let's say you borrow the equivalent of 10,000 US dollars when the EURUSD is trading at 1.5000. This means you have borrowed about 6,666.66 euros, and have used those borrowed funds to purchase 10,000 US dollars.

Now, let's assume the exchange rate falls to 1.4500, and you decide you want to exit the trade. To do this, you simply want to exchange the 10,000 US dollars you purchased back into euros at the new exchange rate. At a rate of 1.4500, your 10,000 US dollars buys you 6,896.55 euros. You now have to repay the original 6,666.66 euros you borrowed, leaving you with 229.89 euros. You then want to convert this back into US dollars -- your home currency -- which, at an exchange rate of 1.4500, amounts to 333.33. This is your profit from the trade.

As you can see, foreign exchange trades can be a bit more complex than your typical stocks or futures trade -- but if you take it step by step, you'll see it's really just a few straightforward math equations.

Simon Parth has been an active trader of currencies since 2002. He is a founding member of InformedTrades.com, a community dedicated to creating a free and comprehensive learning resource to help traders learn how to take advantage of opportunities in the world's financial markets.

Forex Autopilot Robot Review - Will It Do All The Trading For You?

I am sure that if you are a Forex trader you have already heard of Forex Autopilot robot. If not, this is the software by Marcus Leary that is said to be the greatest breakthrough in Forex business.

I first heard of this robot from my friend Jack who is a professional trader as well. He told me that I had to check it out because it was supposed to be really good.

I tested different kinds of Forex software in the past and I am always open to try new ideas and tools.

So, I went to Forex Autopilot website to read the sales letter and I was amazed with what I was reading. Marcus Leary was promising a lot and I started wondering if it was really possible to create the robot like that one.

Trading Forex on autopilot?

I couldn't believe that.

It was just because of Jack who recommended it to me that I decided to purchase it. I trusted my friend and it was only $99 with 8 week money back guarantee so there was nothing to worry about.

I downloaded the robot to my PC 2 minutes after the purchase. I had to download a new meta trader as well because the old one wasn't compatible with Forex Autopilot.

I read the manual and FAQ and I installed robot on my PC.

I didn't want to lose any money so, I opened demo account something I hadn't done for years and I decided to start testing the software.

One thing I want you to be aware of is that Marcus Leary's robot is really complicated to use. One will need advanced skills at Forex and computing because the manual provided was pretty poor.

My first two trades were bad ones and I lost 200 pips.

There are several digital advisers on the software main screen and I was not sure which one I should have used. So I decided to check them all out the following day.

Finally after two days I started making profit and I moved to my real account. Everything has been great since then and I will recommend Forex Autopilot robot to anyone who wants to make money on Forex.

It is not a scam.

Sam Graham is a professional Forex trader. He has created http://www.forexautopilotreview.com website where he explains all of Forex Autopilot features and answer any questions regarding this software.

Forex Trading - It is Possible to Make Money With Only 50% Wins

To be realistic, most people will have a win loss ratio no better than 50%. The reason so many people lose money in Forex trading is that with a 50% win rate, they lose much more money than when they win.

It is possible to make money in Forex trading by picking winning trades with no better statistical advantage than flipping a coin.

How can someone make money when you only get half the trades right? That means 5 out of every 10 trades are losers. Well, if your money management is set up with the right profit loss ratio, it is possible.

Let's use 30 pips as a profit target on every trade and 20 pips as a stop loss on every trade. We will use 10 trades to make it easier using percentages. Winning 5 trades at 30 pips per trade, nets 150 pips profit. Losing 5 trades at 20 pips per trade is 100 pips loss. The net profit for ten trades is 50 pips gain. With one contract, this is $500.00 or one mini-contract, this is $50.00 per ten trades.

Let's say you get better at your trading and win 60% trades. Winning 6 trades at 30 pips per trade, nets 180 pips profit. Losing 4 trades at 20 pips per trade is 80 pips loss. The net profit for ten trades is 100 pips. With one contract, this is $1,000.00 or one mini-contract, this is $100.00 profit per ten trades.

A more rare win percentage is 70%. But working out the math, 7 winning trades at 30 pips, nets 210 pips profit. Losing 3 trades at 20 pips per trade is 60 pips loss. The net profit for ten trades is 150 pips. With one contract, this is $1,500.00 or one mini-contract, this is $150.00 profit per ten trades.

This shows that even with only 50 % wins, money can be made. Using a 3:2 profit loss ratio is profitable for making money in Forex trading. This could mean using a 60 point target with a 40 point stop loss as well.

Using a smaller ratio like a 30 point target and 30 point stop loss, a 1:1 ratio will only give a profit with a win rate greater than 50%. You may find that your trading strategy can only get a 20 point target so you may need to do the 1:1 ratio. Using the 3:2 ratio, with a 20 point target, you will have less than 20 as a stop loss and this is too small of a stop loss for Forex trading. There are so many market forces that can swing more than 20 pips and hit your stop loss. Practically speaking, you need to work with the currency pairs with the smallest spreads when using a 20 point stop.

Now, knowing the right target loss ratio, the right trading strategy needs to be incorporated to make this work. Finding the right strategy is vital to this ratio.

On our website, we have reviewed different trading strategies or trading systems available on the internet.

For information on trading strategies we reviewed, visit our website at http://blog.opinionandreview.com

Penny Stocks Profits - Swing Trading or Day Trading?

Entering the world of stock trading means learning a new language. Just as with any industry, stock trading has its own terms and vernacular. One of the more basic terms in the stock-trading glossary is the type of trading you are involved in. Or more exactly, what "timeframe" are you involved in?

When you see the terms "day trading," and "swing trading" swirling all around the Net, it can become confusing. Throw into the mix the term, "day trading penny stocks investor" and "long-term buy-and-hold investor," (and a few others) and it gets even more muddled. What's what?

There are numerous ways for traders to invest. A few decades ago - before PCs and online trading - buy-and-hold was the keyword. Stock brokers were as revered as much as a physician or clergyman. Stockbrokers ruled their world. And they made a pretty penny off their clients. It mattered not if their client made money or lost money in the market, the broker always made a buck! (Many bucks!)

In those days, people involved in the stock market were known as investors rather than traders. Because the main reason to buy stocks was for long-term investment. What a lot has changed in a very short time. Technology brought forth those who were looking, not for long-term investment, but quick profits. Profits that can be realized within a few months, a few weeks, a day, and in some cases, a few seconds.

So, let's look at each of the terms mentioned above and learn what each means. The clearer your understanding, the better trader you will be.

Swing Trader

This investor could be involved in stocks, options, or futures. Swing traders will hold open positions for a few weeks or a few days. As they follow a slower cycle of trades, they have fewer trades to make. This means fewer commissions, less chance of error, and the ability to catch the more vital multi-day profitable swing trades.

The swing trader relies mainly on technical analysis, but may also be interested in basic fundamentals. In other words, they will keep an eye on news releases in the industry in which they are trading.

Swing trading usually has an average profit target percentage that is higher than in day trading. Higher profit targets equals higher average risk per trade. One also has to factor in the overnight exposure during which time the trader would be exposed to any major developments that might occur.

Long-Term Swing Trader

There is that trader who has become comfortable moving with the longer timeframes of several weeks to a few months. This investor might be trading in the indexes, timing mutual funds, or assessing both technical and fundamental information.

This trader will be more apt to filter out the "noise" that is present in all trading. What this means is, it's easy to get fooled by small moves against the trend, or your trade, when day trading or even short-term swing trading. These little variations aren't as likely to trip up the long-term swing trader. The percentages these traders take off the table can run as high as 20%, 30%, and even 50% as they trade out over a few weeks.

The biggest disadvantage here is the chance of missing out on so many shorter-term swings that any market will make.

Day Trader

Day traders are buying and selling in the timeframe of a day. "Intraday trading" as it is known. Some traders will make two or three trades a day; others may make a dozen or more. They experience no overnight hold exposure. The stock may go up, the stock may go down, day traders are able to profit from both long and short. They take advantage of quick swings in both directions. In this way, they focus on higher winning percentage of trades by taking quicker profits and smaller risks. They are jumping in and jumping with a great degree of regularity.

The problem here is the need for attention during the trading day. The day trader has to be actively watching the charts; investing quality time in the endeavor. Many people don't have that kind of time to watch charts.

Attention must also be given to the costs of the transactions. Commission bills can run up very quickly. The day trader must be aware and factor this into the "cost of doing business."

Buy-And-Hold Investing

In this day and age, these investors are still around, but are almost thought of as old fossils to the faster-paced swing trader and day trader. The Buy-And-Hold investor may have a large portfolio of stocks, bonds, and mutual funds and looks to hold them... forever? Well, close.

If the investor has used plenty of fundamental analysis and market sentiment analysis, the gains can be quite profitable - and the commission costs are almost nil. By and large, the problem with this type of investor is their almost complete lack of plan for their investment.

Why did these buy-and-hold investors lose 90% or more of their holdings in the bear market? It's because they could not bring themselves to sell. (They hold hold hold! It's a mind-set.) So few of the buy-and-hold investors have any idea what a protective stop means. Having no plan for profit objective, nor any idea of when to give up and move on, spells disaster for this type of investor.

The best the buy-and-hold investor can do is move from no strategy to a specific strategy where their objectives are clear and exactly when and how they will exit. AND to place protective stops all along the way.

Which is Best?

Figuring out which trading system is best depends on who you talk to. "Swing trading," said one broker, "is easier to master, requires less attention and can be just as lucrative. There is no real reason to liquidate every position daily. Most of the news that may affect a stock's price also occurs during business hours."

Another professional is quoted as saying, "You have more control as a day trader. Overnight you are exposed to overnight risk, since the market doesn't necessarily open where it closed. Intraday you have far more control over your entry and exit prices."

And yet another opinion: "When the market turns, a good day trader can get out of a position and get back into it at better prices."

So there you go. Who is right? In the final analysis it all boils down to you. What are your objectives? What is your personality? What are your time restraints? Most people involved in the market may think they are traders, but indeed the true trader is the one with a plan and the discipline to adjust and follow it.

Trading Coaching

No matter whether you swing trade or day trade; whether you work with penny stocks, futures, or options; it's vital that you gain as much knowledge as possible. Knowledge is indeed power in this business. Rockwell Trading Inc. is a group of trading coaches. Their specialty is to turn failing or marginal traders into success stories by offering trading coaching. Rockwell brings their clients onto a path to success. Their success ratio for new traders is over 97.7%. Rockwell's Trading Coaching Program promises to improve the trader's trading techniques and increase returns, or they'll refund the purchase price. No other trading coaching company can touch their credentials. Rockwell Trading is the real deal.

Tired of floundering around all alone in your stock trading? Whether you day trade, swing trade, or buy-and-hold, let the wealth of knowledge, industry experience, and the renowned coaches of Rockwell Trading Inc. provide you with quality trading coaching. Turn your losses to profits TODAY. http://www.dblpennystox.com/rockwell

More about online trading training here: http://www.squidoo.com/daytradingcourses

How To Choose A Forex Broker

This can be a daunting process. Perform your due diligence as if you were going to buy a company. The following ideas might be of help:

Any forex broker worth his salt will be registered as an FCM which is a Futures Commercial Merchant with the Commodities Futures Trading Commission (CFTC). Having found a registered forex broker is but only the beginning of your search.

There are other important considerations. For instance, the broker of choice should be linked to a firm with substantial financial clout because the broker often 'lends' a trader up to 99 per cent of the funds for trading. This is because forex trades are highly leveraged.

The Federal Deposit Insurance Corporation (FDIC) does not insure forex accounts. Consequently you cannot expect the White House to assist any brokerage company or to refund you should the market go belly-up. For financial peace of mind, utilize the services of financially stable institutions with sufficient funds to absorb substantial losses because of adverse market conditions and therefore fast diminishing deposits should their client base make a run on the financial institution with large withdrawals.

In addition you want your broker to answer the phone when you call, right? Communication. Being able to reach your broker can make a big difference to your bottom line. Sometimes a substantial one. Or do you want to hear the smoky voice of a little kitten telling you he is not available because of some other considerations? Remember the forex market place is active 24 hrs worldwide so you may need to reach him after normal working hours. Your normal working hours that is unless you are trading full-time in which case it doesn't matter. It's like 'Joe pick up the bloody phone before I bitchslap you to kingdom come. The bloody market has gone south and I want my money like right NOW. I said right now, d'ya hear?''

Forex brokers use spreads which is the difference between a bid and ask price. That means what the broker pays to buy vs the amount he sells a currency for. This is different from the standard commissions charged by bond or stock brokers. This could be a fixed spread on trades or variable spread. Depending on your investor trading style or risk profile you would opt for one kind of spread versus another. Fixed spreads tend be larger though.

Qualified clients are offered a standard account upon completion of the application form and having indicated that the requisite funds for trading are at your disposal (in other words you have the booty that is going to make you a s*&^load of moolah, catch my drift?) So yadda yadda you have to state that you understand the risks yadda yadda inherent in forex trading excuse my verbosity ;) yadda yadda. So now you have a neat little standard account which trades currency in wait for it, units of 100 000. That means, Mr Wiseguy that you have to buy 100 000euros worth of currency. That's right. Holy Camoly. That's a beeyatch. I don't have that kinda money. Well what did ya think? This aint the local casino esse.

So what now? Buy lemons and make lemonade? Hold on there for a mo. Brokers know that's a sh*tload of money so they offer leverage. No I don't mean the lowdown on the ex that's gonna get you off the maintenance court's hitlist. That means you put in for instance 1 percent of the total amount, the broking firm the rest. :) Bingo home and dry. Hmm. Not quite. Remember the risk. So you have huge profit potential but the downside is that there is also a very high risk factor. The margin call policy of the broking firm is important-know what it is.

There are other solutions. For instance some brokers will indeed offer some kind of 'mini' trading account which means that trading happens in smaller units instead of standard lots, such as 1, 000 which means you, budding forex trade tycoon, get to invest say 300USD as opposed to 3000USD. That is a minimum far more reachable by most investors. If not, play the lotto quick pick 10USD a pop, no problem :) There is a downside. Regrettably trading with such a mini account does mean that the reduced leverage requirements also reduces the profit potential but hey you can't have your cake and it eat it, right? You want to trade? Play by the rules. Especially the ones that talk about affordability. Don't wipe out your life earnings and Aunt Sarah's study loan with one bad trade. Protect the investment capital. In gambling parlance protect the betting bank. Without a betting bank it's game over, thanks for playing, bye!

Okay now onto software and technical tools. You will need those preferably supplied by your broker so you can be more effective. Any kind of investing is complicated and has varying degrees of volatility attached to it, particularly forex trading. To begin with perform several paper trades using trial accounts so that you can become efficient with the software and research data available, preferably using real-time prices. Spend monopoly money on your leaning curve or blow he whole enchilada on the learning curve and make next month's investment funds selling big macs at you know where. You have been warned. Do not go past Advance do not collect 200USD at the start go straight to ... shall I continue?

Okay in the final analysis what are you looking for? A solid broker with deep pockets and that rarest of commodities, integrity and by that I don't mean he pays his monthly drinks tab at O'Hagan's down the road.

Spend as much time on this as you would a good husband or wife. After all it's your money, right?

For more information about the world of Forex visit the author's website http://www.dealsforex.com

Day Trading Online

Internet has revolutionised the world with latest techniques and by the end of 1990, this revolution forced the stock market to go online for day trading. This new change in the stock market, make things easier for people to go for day trading online.

Research the Market Well

There are many people who think that day trading online are very risky and so they remain away from it. One should have good knowledge about the online trading company. Regular investors have all the recent updates of the stock market and so they invest in stocks at the right time. They make a research of the whole market which might take days or even weeks to know about the market scenario of the stock trading companies.

If you are a good day trader, then chances are high that you will get much bigger returns and you can also trade several times a day. Price outline shapes very quickly and so, it requires an efficient, quick response as soon as a trading indication is perceived. Unless you have a good knowledge on the stock market trading, you cannot make good returns. So, it is always fruitful to have a good understanding of the market.

Get An Experienced Stock Broker

One of the most important things one should know is that unless you get a good stock broker, you cannot make higher returns in the stock market. You will find many brokers which will serve you to get some good returns but in today's world, it is very difficult to get a decent one. There are many frauds that make you go bankrupt and you are left with no other options. The bottom line is that you should get an honest broker who have got good experience in the market and who can show you the right direction.

Look For Tips And Tricks

If you are looking for day trading tips and tricks, you can get more information on the web. There are websites which provides you with tips and tricks of day trading. So, you can have a really good idea about day trading online. You should be, however, be ready to take some amount of risk when you invest in trading and stock markets. Do not be overconfident and you should always keep in mind that the secret to good trading is to trade the way you know. So, you should trade stocks after consulting with a good broker. So, make a good research on the market and make a great trade to earn something big in life.

Why Choose Sogotrade:cheap trading stock options
Contact Sogotrade:
Contact Online stock trading company

Five Steps to Online Training for Foreign Currency Trading Quickly

So, while these steps are applicable to online training for foreign currency trading in the forex market in my case, if you think about it while you read this, it could easily be the same principles that you need to apply to become a professional currency trader in the trading futures markets, or trading options market.

Lets not waste time here is step: 1) Start trying to save your money today not tomorrow or next month.

To trade in the big league or you need a bankroll to play with, and one that is capable to withstand the ups and downs that are a natural part in the trading currency markets. For me, I know this is a problem for most people, but you need to just get an organized budget together. Then stick to it, and if you want it bad enough then it will start to add up to where you need to be in the online currency trading.

So you say "How much money will you need?" Unfortunately I can not be the one to answer that because it will depend on the trading strategy that you chose to implicate, and the amount of leverage that you need to plan on trading with in the course of a day. Also the amount of money that you can take out in profits, is just simply what is extra from what you need in the course of day trading. Though you should not count on having a bare minimum for you currency exchange balance, it you leave a little more in each day then you may be able to start to take more risk. And if you understand that risk means that you have a chance to make a lot of more money, then your on the right track. But I can say, that I see plans from $1000 to a years salary.

The Next Step: 2) Get online training for foreign currency trading.

Common sense will tell you that you need to get training in you subject before you go about risking you money. So with that said, there is plenty of free information to get your self started. With the free information you can get yourself familiar with the terms that they use in the currency trading market, with terms like "fx" meaning forex, or "cdf" meaning, channel definition format. If you just learned something with the last sentence then you know what I mean, because this is also free information that you are reading.

But when that is not enough there is many programs out today, mostly when you register for a trading platform then they will provide you with what you need to get informed in you field of currency trading. The part of the education process that I really am talking about here is necessary, and that is coming up with a good trading strategy that you are personally comfortable with currency exchange rates and among other things, as well as being financially sound with the money management strategy to ensure the long-term viability of your trading strategy plan.

Then the next step:

3) Which can also be simultaneously done with the last step. This is to sign up with demo trading account from a larger online trading broker. Then you can start practicing with your new found trading strategy, while not losing all you money to start, because the demo account uses play money and not real money. At your regular job or, if you have some free time and internet access at your work place, then maybe you can start to get a feel for how a normal day is while practicing trading.

So on to step 4: If you are then already making money trading on "paper," so to say, and are comfortable with your trading strategy plan, then you need to go ahead and get started having fun with fx trading for real only on a part-time basis. Don't include all apples in one basket just yet. You need to start out slowly and gain a decent comfort level. Then as your confidence builds up and you have learn from a couple mistakes, then you can start to move money from your savings to increase your bankroll.

Lastly step 5: When you can estimate that your average gains/loses from real trading, from following step 4, are at a level where and when you are comfortable, to say if you were to trade full-time using your present bankroll, you would be making enough profits that slightly go over and exceed your current employment salary, then and only then you are ready to quit your job for once and all, and trade full-time.

Remember, you want your currency trading profits to go over and exceed your present job salary. This will give you the opportunity to maintain a decent current financial level. Also at the same time you can then live with minimal stress in you life and continue to increase your trading bankroll, which will enable you to make more money as the size of your available funds grows sizable larger.

Lastly it is important to have patience with yourself and your online training for foreign currency trading, at each of the steps mentioned above. Mostly the seasoned traders will tell you to maintain emotional equanimity and understand that fear and greed are a traders weakness. If you can keep these strong emotions under control and keep you head straight, the discipline in establishing the while following steps, then you can look forward to making it as a everyday professional trader.

If you liked that and you want to get an even better grasp on Forex go to Prolificinfotoday.com and find more useful free currency trading information

Best sample of Forex Advertising on Google AdWords

Trade Forex 35 pips a day
guided trades with 80%-90% succses including an EA for MT4

2 pips FOREX
Unique FOREX trading solution Hedged FX trading solution

Forex - Currency Trading
Easy-Forex™: Online 24x7 , $100 Start, Guaranteed Stop-Loss Rates!

Make Money Online
Online Currency Trading With Forex Easy Way To Make Money Online

Automated Forex System
Profit over $3,000,000 last year Fully automated (mt4) Order Now!

Best sample of Forex Advertising on Google AdWords

Forex trading
Apama enables high-volume trading for FX, FI, Futures and Derivatives

Free Forex Trend Analysis
Any Forex Pair, Anytime, Anywhere. Get a Free Trend Analysis Everyday.

Incredible Forex Strategy
Crack the Market Open Watch Your Wealth Grow!

Forex Trading Signals
Superior performance Forecast exact Buy and Sell levels

"Forex Assassin Formula"
Discover Killer Forex Secrets 100% Guaranteed Here.

Forex Price Movement - Use This Simple Equation to Understand it and Win Big

Forex price movement - how and why exactly do prices move? Simple enough you might think but most traders have no idea about how and why prices really move if they did 95% of forex traders wouldn't lose! Let's look at a simple equation for market movement.

Here it is but its simplicity is deceptive...

Supply and Demand Fundamentals/ News + Investor Perception = Market Price

Now here are some mistakes traders make by not fully understanding the above - If you believe any of the following, you can say goodbye to your equity.

- You can day trade and win

- Markets move to a scientific theory

- Market tops and bottoms can be predicted in advance

- Buy low sell high is a good way to trade

- You rely on trading expert news stories

- You try and trade the fundamentals

ALL the above will see you lose - let's look at why:

Firstly, trading is an odds game, as humans are illogical and millions make the price.

Their all governed by emotions - you cannot hope to predict what they will do and furthermore - you can't do so in short time frames and that's why day traders lose.

Trading the fundamentals is not possible because they are unimportant - its how their perceived that determines the course of events and the price.

So how do you win?

As a forex trader forget about predicting its simply hoping or guessing there is no scientific theory of market movement - if there were, we would all know the price in advance and there would be no market. Forget vendors who tell you they can predict if they could they would be rich and wouldn't need your money!

Trading is an odds game but that doesn't mean you can't win you can.

The easiest way to trade is to use forex charts and simply follow forex price action, trading the reality of price change - no hoping or guessing, just trading the facts.

Fundamental news is discounted instantly in the price and you will see that on the charts - but you will see something more, how investors perceive the fundamentals and that's the beauty of forex charts.

You see the whole picture as it is, no hoping or guessing just the reality, as it is.

Now human psychology may not be wholly predictable - but human nature is constant and this will show in repetitive high odds chart patterns which occur again and again.

If you spot and act upon them you can make money.

So when looking at forex price movement remember, it is not the fundamentals that are important or the news - but how investors as a whole perceive the news.

If you understand the above, you will see why simply following charts and acting on the reality of price change can make you money.

NEW! 2 X FREE ESSENTIAL TRADER PDFS PROFESSIONAL FOREX TRADING COURSE For free 2 x trading Pdf's with 90 of pages of essential info and more on Currency Trading Basics visit our website at: http://www.learncurrencytradingonline.com

Forex Trend Following - 4 Simple Steps to Catching the Mega Moves

If you want to make money from global FX, then the best profit potential comes from long term forex trend following and this means catching and holding the mega trends that last for weeks, months or years. You will see them on a forex chart but what the best way to catch them? Let's find out...

Were going to use a simple 4 step system, if you want to make forex profits it's worked and has always worked. This forex trading strategy will put the odds on your side and will ensure you catch every BIG move.

This system is simple and you need to understand this fact - all the best systems are. Forget expert trading systems, neural networks or lots if indicators - simple systems work best as they are robust and with fewer elements to break in the face of brutal ever changing market conditions.

Let's start with a simple fact:

If you want to make money forget "buying low and selling high" - you will miss all the big moves. Instead look to "buy high and sell higher" and for this you need to understand breakouts. Breakouts are simply breaks of important support or resistance levels on a forex chart. Most traders can't buy these breaks.

They want to hold on and wait for the price to come back to get in at a lower "better" price and of course prices don't pull back - they continue. The losing trader then watches these moves sail over the horizon and he's not in!

Make sure you don't make the same mistake. Right lets look how to catch and make forex profits from breakouts.

Step One - The weekly chart

This gives you the big picture look for levels of support that have been tested at least twice (the more the better) and are in two time frames (the wider apart the better), these are levels that are deemed important by the market.

Step Two - Look For the same levels on the daily chart

You are going to time your trading signal off this chart, so look levels that are the same or close to the weekly levels - now wait for the price to break.

Step 3 - Is the break valid

Not all breakouts continue, some are false, so wait for the break and check momentum. You want to ensure the break is strong.

We don't have time to discuss momentum oscillators here - but you should use one or two to confirm the break and the stochastic and Relative Strength Index (RSI) are good ones to use. If there in line with the break - go with it.

Step 4 - Protection and Following the move

The stop loss is obvious - behind the breakout point. Now when the break occurs, if it is a good one it will accelerate - as stops are hit and fresh buying comes in, as the supply and demand situation changes - WAIT.

DO NOT trail your stop up to quickly.

You want the move underway and you need to ignore volatility in the short term.

Once the move is well underway, start to trail your stop but hold it outside of daily volatility ( if you do not understand standard deviation of price make it part of your forex education now), this means trailing right back - when the move turns, you are going to give back some profit, that's ok. If you caught just 60% of every major trending move you would be very rich! If it's a big move you will have plenty in the bank and you can't predict where prices go so don't try.

Simple?

Yes the above is very simple and it works. Simple forex trading systems work best, as they are robust and they always have. Complexity has no correlation with forex profits so don't confuse the two and try and be to clever.

If you try the above and you are patient, you will be forex trend following the right way, catch all the big trending moves and make big forex profits.

NEW! 2 X FREE ESSENTIAL TRADER PDFS PROFESSIONAL FOREX TRADING COURSE For free 2 x trading Pdf's with 90 of pages of essential info and more on Currency Trading Systems visit our website at: http://www.learncurrencytradingonline.com

Currency Trading System - A FREE Trading System That's Made Millions!

In this article we are going to tell you the EXACT rules of a FREE trading system, used by some of the top traders in the world that has made huge profits. Despite this fact, most traders don't even consider it. Lets look at it.

The currency trading system we are going to look at is from the late 70s and was developed by the father of Modern trend following - Richard Donchian

The system is known as the 4 week rule and was originally developed to trade the futures and commodities markets.

It simply took advantage of the four week cycle.

The system itself over the years has been used on its own are as a base for a number of the world's greatest traders and when the turtles and Richard Dennis have used it you know if you do your in very good company!

Here it is and you cant get a simpler system:

Here are the rules:

1) Close short positions and go to a long position when a price exceeds the highs of the previous 4 weeks.

2) Close long positions and go to a short position when a price falls below the lows of the previous 4 weeks.

Nice and simple? Of course it is but don't confuse simplicity with no making money this system does make money and is the simplest breakout system you can get.

Back test it and see how much money it makes. It does have a flaw which is its great when markets trend but when they don't it will take losses so add a filter if you wish:

Enter trades on the 4 week rule - but exit the position on a shorter time period and go flat.

1 or 2 week cycles are good ones to use and then you would then re enter on the next 4 week signal. Could it make you gains?

Sure it can but it requires one trait and not many traders have it - Iron discipline.

Its not fussy about market timing and its VERY specific with its signals.

You have to take them and stick with them, most traders will find this hard.

If you have discipline and like a simple mechanical trading system, then it will work well for you.

Most traders wouldn't even consider it - Why?

Well its not very trendy is it?

Traders will waste their money buying software from vendors (with simulated track records) and lose yet here is a system trading legends have used and is FREE and will beat all the simulated ones!

All the worlds best currency trading systems are simple, as they are robust and this one is.

It will never go out of date, is easy to use, time efficient and makes money.

So if you think its to simple - It wasn't for traders like Richard Dennis and many other trading pros so consider it and you may be surprised at how much money it can make.

NEW! 2 X FREE ESSENTIAL TRADER PDFS For free 2 x trading Pdf's with 90 of pages of essential info and more on currency trading system visit our website at: http://www.learncurrencytradingonline.com

Forex Trading Brokers - How To Get the Most From Them To Win

Here we will give you a quick guide on getting a forex broker who can provide you with the tools to help you win and maximize your trading profits, so here is your guide to choosing the best forex brokers.

What you don't want!

Before we start lets look at what you don't want from a broker:

Advice!

Never fall for the assisted account and how good their research is - if it were that good at trading they wouldn't need you! They would be making so much money on the house account. Also understand this:

Most brokers are market makers and profit from your loss and advice is a conflict of interest for them.

Is that good?

My broker wins when I lose? Its no different to a bookmaker and the fact is 95% of traders will lose anyway, so this means brokers make a lot of money and in recent years fees, platforms etc have come down dramatically and give you the best advantage you could ever have.

Forget all you hear about brokers hunting stops etc to make you lose they don't care simply because they know the odds are in their favor 95% lose.

The broker doesn't force you to lose you defeat yourself but you have the opportunity to win and win big and you need to have a broker - so look for 3 things only they should provide:

- Tight pip spreads and no commission.

This is your cost of doing business and adds to your loss and eats your profits keep it as low as possible

- Trading platform

This should be easy to use and reliable. Check it out with a demo account, see how it functions and look for 24 hour support should you need it.

- Security Of Funds

Its no good having a reliable trading platform and great spreads, if you broker goes bust! Go for large well established brokers, who have security measures in place and are in governed jurisdictions.

Your broker provides you with the tools to execute your forex trading strategy and that it - there not there to hurt you and wont, they are your connection with the market and all you need is - a reliable trading platform and tight spreads. Its then up to you to make your currency trading a success.

MORE ON BEST BROKERS AND FREE FOREX EDUCATION For more on forex brokers and a great new service: Protected Limited Risk Forex Accounts and some essential trading guides visit our website at: http://www.learncurrencytradingonline.com/index.html