Forex Day Trading and Scalping - A Guaranteed Way to Lose Your Money Quickly

I have been involved in trading forex for 25 years and still amazes me how many people think forex day trading or scalping makes money - it doesn't its simply the dumbest way to trade and will lose you your money. Let's examine why.

Countless millions of traders trade trillions of dollars each day and it is impossible to determine what this mass of people will do within such a short time span as a day or a few hours.

Support and resistance levels are meaningless as volatility can and does move prices anywhere in a day session. If you don't believe me lets look at the proof

The first question you need to ask yourself is if forex day trading really did make money why is there no real track record of gains to show the success? There are thousands of day trading systems promising gains and none of them have a real track record - what do you get?

A lot of hype and a track record that is simulated (not traded for real) in hindsight (knowing the closing prices) Here is the normal one you will see which is a CFTC standard one:

"cftc rule 4.41 - hypothetical or simulated performance results have certain limitations. unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

Put the above disclaimer on a track record and you can say anything you want and vendors do. They appeal to lazy or greedy traders and the trader buys and gets a guaranteed loss and the vendor makes a guaranteed profit from the sale.

Day trading is simply the dumbest way to trade and sensible knowledgeable people fall for it all the time - maybe the don't stop to think or simply miss the disclaimers when they buy these systems.

You can if you want to prove me wrong try and find a track record ( that's real dollars and audited) I saw one day trading system show his bank balance of evidence of his success - success in selling day trading courses NOT trading that's for sure!

So if you find one be sure to let me know I have been looking for a day trader to prove me wrong for 25 years and I Haven't found a long term track record of profits and know I never will.

So avoid day trading and pick another method that will help you gain currency trading success by trading the odds.

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Forex Killer Strategy - Join The Forex Trading Elite

A true forex killer strategy will involve minimizing risk through the medium term trade, predicting trends and acting upon them with precise timing. If you can do all these things, you will be well on your way to becoming a forex killer. This is something new traders fail to realise- many use statistical data up to a point, but in the end base their trades on emotion and instinct- this is a sure-fire rote to failure in foreign exchange.

There is oftentimes bad press about the currency trading market- that by and large only the big players can really compete. Governments and large financial institutions such as banks do indeed make the majority of the profits, and have the greatest influence on market swings, however there are a lot of individual traders (spectators) who consistently make thousands of dollars trading foreign currency. It is not rocket science; however there are certainly some fundamentals that set them apart from those that fail.

Here are some key skills of the elite forex trader's

1) Favor The Medium Term Trade

It has been shown time and time again that by favoring the medium term trade you effectively minimize risk, and increase the chances of consistent profits. Think of it this way, you are better off making consistent small wins as opposed to large win's and large losses. As Justin Kuepper, contributor to Investopedia.com suggests favouring a medium term trade will "help you save money and ultimately become a profitable retail forex trader".

2) Predict Trends

Foreign exchange, unlike the stock market is a relatively small playing field (4 main currencies and 34 second tier currencies). The beauty of this is that it makes it easier and faster to interpret past market data and make educated decision's based on fact rather than instinct, There is no doubt that the most successful trader's use some form of forex trading software. Such platforms allow user's to efficiently read market signals and know when to act upon them for the greatest chance of profit, and the smallest amount of risk- this is effectively a true forex killer system. If you can efficiently manage the statistical data on the foreign exchange market, you are well on your way to success.

3) Act Upon Trends With Precise Timing

It is all good and well to have access to statistical data, but reading it and knowing when to buy and sell is another thing. Unless you are super experienced, again forex trading software will be the best place to start.

Conclusion

If you are serious about succeeding in currency trading, and being amongst the forex trading elite you need to favour medium term trades, be able to interpret and predict trends and act upon them with precise timing. If you can do these things, and ensure you never base a decision on emotion or instinct you will have the greatest chance of making massive profits in forex.

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Another Fine Mess We Are Facing and How to Get Out of It

In the financial world, the safety belts are being fastened as we are getting sucked into storm conditions for starters, and tornadoes as the main course.

Those, holding vulnerable securities and burdened by other such exposures like holding the some depreciated foreign currency or property, will wish at the moment they rather invested in products like tranquilizers or worry beads.

I suppose that here is gold one could get into, but it is a bit late in the day for some people since the price is pretty high already.

If one has the patience to wait, currency and property usually regain lost ground in due course, and actually huge money has been made in selecting this type of investment at crucial times. It may be profitable to keep that in mind..

Therefore, the many who are stuck holding a depreciating foreign currency must hang on for their day to come. Those, who own a property also depreciating in value, face the same problem. Right now, the only loss they are facing is that they could have bought the foreign currency at a lower price, and that they could have bought their property at a lower price. However, that is a different kind of loss to the one they would have if they sold now. One is the loss of opportunity to buy cheaper, and the other is an actual money loss.

For those who are not involved in holding any depreciated investment, the chances of making money by exploiting some of the opportunities both existing and coming up, must be a rather pleasant thing to contemplate.

It may be prudent to study the property and foreign currency markets, in order to be ready to step in at any time.

With the currency or property business, it is possible to get into a minus position due to unexpected situations and many investors can get caught. However, it is not unusual to crawl out of trouble time and time again with a nice profit into the bargain, providing one does not give way to loss depressions. Keep cool.

There are a number of realtors, who are ready to show some terrific deals, and there are a number of foreign currency exchange companies well able to take care of their clients and offer them tasty exchange rates which most banks will not wish to match.

I have known smart operators who prefer to buy property when the prices are low rather than high. I also have seen many successful operators buying some currency that has been quite weak and not in much demand.

I wonder if that old famous formula they follow is the proven one of buying low, and selling high!

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Learn More About Currency Trading The Easy Way

It is so very difficult for many people to ever figure out exactly what currency trading consists of exactly and if you are one of those people then you need to start by reading this article and continue your research further, even after reading this. It is possible for just about anyone to understand currency trading but sometimes unless it is put into simple words, it just feels so frustrating for many.

There actually are some easier ways for everyone to learn more about currency trading, so why are you not looking into this further? Start right here, right now, before you know it you are going to finally get what everyone else has been talking about for quite some time now. You will feel just like one of them now, those big time investors. It will feel like such a huge accomplishment once you can finally explain to others what currency trading really means.

Currency trading is the buying or the selling of other countries currencies and it really is that simple. It is also know as the foreign exchange or FX. You need to know that the most common currency that gets traded is the US dollar. However, it is not only about trading one type of currency, it is actually about trading two different types of currency or exchanging them. Remember to never forget about one of the currencies, it is very, very important for you to keep a close eye on both of the currencies that you are exchanging or trading because they are of equal importance.

Understanding all of this can be accomplished, as long as you are paying attention right now. As you are growing as an investor be sure that you are always current on all of the activities going on within the market because that is so very important. Do not be just crazy with it, like always thinking about it, maybe even dreaming about it at night. Just be cautious with it that is the best advice that I could give to you al

The value of your currency just depends on what country you are doing your trading of course. Keep in mind that economical and political happenings definitely have a huge impact on how well these things do. Knowing and understanding what currency trading is and what the currencies trading cost is both very very important information to have. If you ever have any spare time on your hands make sure that you are constantly looking for new strategies that are most efficient in earning you the largest amount of profits.

Check out some of the many different websites available to you all over the internet, you might just find exactly what you have been searching for, answers. As you grow older and wiser you will begin seeing things much more clearly and it will totally pay off because you will never have to worry about retiring or anything else financially, as long as you do your homework and play your cards right.

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Future Trading Online - Nuts And Bolts Of Online Future Trading

Prior to the becoming the popular investment destination which it is now, online trading finds its roots in the eighteenth century with Japan trading rice and silk . The same concept was launched in the US by farmers who brought their products like oil and wheat on the market in an attempt to sell all their possessions.

However, as a system for determining the demand was not yet established at the time, the excess supply went to waste, and the shortage of supplies led to pushed prices at times.

Finally, market participants - buyers as well as sellers, found a way they can place an order in advance. They decided on a set amount of produce to be traded at a later date, and payment was made upon delivery, with sometimes an advance partial payment.

These were the first precursors of futures contracts. Businessmen have learned how to make money on these contracts through speculation. Some bought contracts when prices were low and sold when prices skyrocket, thus earning a profit for them. This finally metamorphosed into a capital market.

Today, the future trading online is a center of fierce competition between traders. It has proven to be effective in stabilizing prices of commodities.

Since the produce is bought in advance, the shortage of commodities or excesses do not pose problems, Suppliers plan ahead of time and are able to make prompt deliveries. But, thanks to the unpredictability of the economy, futures markets are risky business.

But do keep in mind, when we are talking about futures trading on the net, the investors do not intend to be the final buyers of the supply, they are just present to make a profit on the trade. As an investor, you are present to buy early, and sell the contract (not the produce) before it expires.

There are two main venues for futures: the traditional exchange of speech and the most popular commercial future online. Only the location varies, but they are essentially the same in both formats.

The basic difference is that in the classic speech forum for the exchange, brokers played a vital role because they were responsible for the execution of orders. Customers sent their orders to brokers in the trade, who in turn sent it to other brokers and agents on the floor. When the deal is complete, the results are given to the customer and finally sent to brokerage houses.

For future trading online, customers can transact their trades directly from their computers to an online market place offered by the exchange. Presentation and execution of client orders are electronically done. Brokerage approval to trade, and the opinions of the brokering activity, are performed by the computer.

The computers on the exchange track all the commercial activities and marks matching bids and offers. The information is immediately relayed to brokerage houses and compensation. In a few seconds, the prices are known throughout the world.

But, sound research and thorough economic judgments are useful tools to get involved and be successful in this market.

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Forex Technical Indicators - Are They Confusing You?

Forex Technical Indicators are a series of tools created primarily to measure volatility, like the stochastic indicator, or to smooth the zig zag of the market, like a MA or moving average. It is important to realize that all indicators are trailing indicators. They are excellent at telling us what the market just did, but they will never be able to tell you what a market is about to do.

Many fail to understand this distinction. An indicator is used primarily as a tool to assist in the traders pattern recognition. Not to predict the market. Let me explain further.

When you spend large amounts of time, manually back testing with a pad and pencil. (And if you are not performing this at least 2 or 3 hours a day, you are missing out on training that is worth its weight in gold) You begin to develop a bit of sixth sense. My own back testing is set up, so I can scroll one bar at a time to the right (the future) this allows me to play a little game of recognize a pattern and predict what the price will do next.

After just 5 to 10 hours of this type of self training, you really begin to discover patterns in the pricing chart that are predictable. Leading indicators like the EMA (exponential moving average) are excellent to have up along with the pricing, because it gives you a visual point of relevance. For example, when the price is very far above or below the EMA, you know the price is in an extreme state, compared to where it was, your gut immediately tells you the following price action will at some point be coming back to the EMA This is a type of pivot point trade.

As you manually back test, you will find many types of "set ups" in the price action. These set ups are typically cataloged and recorded by professional traders who actively look for certain price formations that have a high probability of doing what the formation predicts.

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Forex Trading - Make Money Fast With These Simple Tips

If you are trading Forex and making mediocre gains or simply want to improve your overall profitability then this article is for you. The tips we are going to list here are not conventional - but most traders don't make money fast in Forex trading so don't let that worry you!

These are simple yet powerful tips any Forex trader should consider to improve their profitability. A good place to start is with classic investment book - the Zurich Axioms by Max Gunther. The wisdom is simple, profitable timeless, unconventional, funny and its one of the most inspiring and essential investment books ever written.

Several of the Axioms are not accepted wisdom - however the Swiss investors who wrote them became rich, while most investors are not.

Let's look at some of them.

"Resist the allure of diversification"

Diversify your investments is accepted as a way to make money longer term and reduce risk - but all it does is dilute profits. You will read about risking 2% per trade and spreading your trades around - but if you are like most Forex traders and trading a small account of around $2,000 you won't make much money risking $40.00!

The Zurich Axioms encourage you NOT to diversify.

Look for the big potential winners and risk more. This does not mean you are being rash, you are simply risking more on the high odds trades and ignoring marginal trades - many traders simply trade too much.

In currency trading you don't get paid for how much effort you put in or the amount of trades you make - you get your reward for being RIGHT with your trading signal.

The Pareto Principle - 80 / 20 Rule

The above philosophy of trading less is related to famous the 80 / 20 rule or Pareto principle. The rule states that 80% of your results come from 20% of your activities. This is true in many areas of life in sales, business and trading.

The rule postulates that by concentrating on the best investments, and ignoring the others, you can improve your profitability. By only focusing on a smaller number of good trades.

This is really a common sense rule, yet very few Forex traders think about or practice this rule. Most Forex traders are obsessed with trading - they think if their not in the market they will miss a move.

Other traders try trading in ways that simply offer them no chance of success like Forex day trading or scalping. I know traders that make triple digit annual gains and only trade once every few months and I know other traders who trade every day and lose.

Keep in mind - the aim of Forex trading is to make money - nothing more.

Love Risk!

The major reason traders don't win is they are frightened of risk.

Does this mean you should act in a rashly or in cavalier manner?

No it doesn't:

However - to make big gains you have to take calculated risks when the time is right and a good trade presents itself and load it up with a meaningful amount of money.

In the Zurich Axioms Gunther states:

"Worry is not a sickness but a sign of health...If you are not worried, you are not risking enough" and "Always play for meaningful stakes. If an amount is so small that its loss won't make any significant difference, then it isn't likely to bring any significant gains either".

If you want to make money fast in Forex trading then you need to risk meaningful amounts on the right trades at the right time.

So if you want to make money fast seek out the high odds trades and load them up with as much as you can afford and aim for and achieve higher returns.

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Calculating the Probability and Possibility of Success of an Investment

The probability of a specific outcome and presumption that the outcome result is measured in terms of the odds is fine providing the odds are the true odds.

The odds are numbers designed to show, what the speculator will receive for his outlay when betting on a certain event. It does not matter whether the event is a horse race, or price fluctuation on the foreign exchange currency market.

To be guided by odds formulated by bookmakers is to be guided by their necessity to balance their books because of the public weight of money invested for a particular result to happen. This is their key to the measurement of the odds. To presume that odds formulated this way is a pointer to a winner is a delusion. Only true odds can do that.

So what are the true odds as opposed to just odds created by the market/bookmaker?

Supposing there is a horse running in a race which is called Father Xmas, and because it is Xmas time, a lot of people will back it, liking the name. Their money will create a demand, and the odds will shorten. These are not true odds representing the winning chance of the horse. These odds are market oriented odds which do not represent the actual capability of the selection.

So what are the true odds needed in your corner to point to achieving a good result?

It is the process of weighing up what will not happen rather than what will. Finding out the real form of the selection based on a series of past performances under various conditions and a host of other data will direct us in the right direction. It means engaging serious attention to any minute point and having the ability to go by that.

Applying this to foreign currency, means that one cannot be constantly under the spell of how the market behaves, but must take the numerous circumstances into account to form an overall picture.

There are times when governments support their currency which might appreciate as a result, but often only for a very short time. That sort of thing does not necessarily signal to buy that currency, and does not represent true odds. However, a temporary following of a trend can often be productive, and spotting it early can mean getting true odds in your favour.

Realizing that certain currencies tend to behave differently at holiday times is most important. Currencies even tend to behave differently at certain times of the day. Learning to spot this is helpful, and is a plus. The days when certain important data is being released are imperative to bear in mind. Also are the days, when important people are due to make a speech.

Negative news about the currency you wish to beat can be positive news for the currency you are holding.

Looking for the negative points about the currency you are opposing can be sometimes more productive than looking for the good points about the currency you are holding.

Ideal conditions are when the positive data lifts your currency, and the negative data drags down the other currency at the same time. Now, you are set to fasten your safety belt with great pleasure. That is also the time, when the foreign currency exchange game is like any other game, only more so. I have often maintained that bookmakers seek to have the odds in their favour, and I do not know of any poor bookies. It is prudent to always follow their example.

The foreign currency market is very strong and full of players. There is never a shortage of money to take out for the well informed, and there is a bottomless black hole for the reckless punters to throw their money into, especially the ones with certain systems. I used to know a fellow who rarely wrote letters home to his folks, but did send brief telegrams saying system going well please send more money.

Remember, that one of the odds in your favour is to deal with the foreign currency exchange companies who are cheaper than the high street banks. You can bet on that.

Paul Dubsky is director Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates - http://www.foreigncurrencyexchangeservices.co.uk

We believe we are the only company which offers special rates to Senior Citizens.

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Chart Pattern Recognition - The Secret Art Of Flipping A Coin

Technical Analysis can be a confusing topic for many traders. With a large array of indicators to back test, for many traders, after all that work, they realize that no indicator really will consistently and convincingly let you be right more than maybe 4 or 5 times out of 10

The other side of the coin is that, the nature of reality is chaotic. I refer back to the pareto principle which states that reality and the course of events occur in a random and "stacked" fashion. They will not be evenly spaced in a neat and predictable way. That 4 or 5 out of 10 system may be wrong 20 or 30 or even 40 times in a row, then suddenly you will get a streak of winners.

This type of behavior can be psychologically painful for many traders and typically the temptation is to cut corners or tweak the system mid flight. Essentially to be a good trader, you need discipline. Of course, you need a good and reliable system first. But essentially it will be your money management that will be responsible for your wealth and income.

If you can resist changing things and second guessing your system when that inevitable streak of losers comes along, you will get your money back providing your stops are small and your wins are large. The real danger occurs in the following scenario (and believe me, I know, I have done it to myself several times)

You get many losers in a row. You are feeling your incredible and exciting gains disappearing before your eyes. Every day for 2 weeks you experience nothing but losses. Then the wins come back, so you throw away all your discipline and trade big to try and recoup your losses fast. The losers return, but you keep your trades big, knowing in your heart the market owes you, and at this point all you are doing is gambling. The large trades stop you out to the tune of 10 stop losses of value per trade. Your account dwindles miserably. You finally quit being so cavalier and go back to your original trading system, only now, following your own rules, the trades are tiny and of course thats when the winners come back strong.

What do you do? Be cavalier again? Or stick to your system trade sizes. Of course you do, you're whipped, you took a nasty beating and now you are humble again. Of course now you are behind 15 weeks of trading effort and virtually starting again. Technical analysis is only part of the story.

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Foreign Exchange Trading - How To Use Economic Indicators to Predict Price Movements

When you start foreign exchange trading, one of the main things you have to learn, obviously, is how to predict price movements of currencies.

There are two types of analysis that can help you with this. One is Technical Analysis, which is concerned with exact charting of markets and price movements. The other is Fundamental Analysis.

Fundamental analysis is much less precise, but goes much more deeply into the causes of currency movements. It involves a whole range of factors including political situations, government policies, company takeovers, even natural events such as earthquakes or floods.

Of all the factors studied in fundamental analysis, few are more exact or provide better information for foreign exchange trading than economic indicators. These are sets of economic statistics published on a regular basis by government or private sector agencies. When taken together they can help you judge fairly accurately how a country's economy is doing.

Obviously there are a huge number of economic indicators used in any given country. They are divided into leading indicators and lagging indicators. Leading indicators take place before major changes in the economy become apparent, so can be used to signal that these changes are taking place. Lagging indicators signal that the changes already have occurred.

There are some leading economic indicators in the USA that are particularly important for foreign exchange trading. These include:

• GDP - Gross Domestic Product - represents the monetary value of all goods and services produced by the economy over a stated period. In the USA it is published quarterly. It includes the pace at which the country's economy is growing or not growing.
• CCI - Consumer Confidence Index. This is published monthly in USA and is seen as a big market mover - it is looked at closely by the Federal Reserve when determining interest rates.
• CPI - Consumer Price Index - published monthly in USA. Again this is seen as a major market mover and an extremely important indicator of economic health.
• NFP - non-farm payrolls. This is published monthly in the USA and records changes in the numbers of employees apart from farm, government and private household workers. It represents about 80% of US producers and is one of the biggest market movers.
• PMI - Purchasing Managers Index - a monthly composite index of manufacturing conditions in the USA. It is seen as important, especially the section that deals with the growth in new orders.

There are many more economic indicators, but these are some of the ones that carry the most weight. But how can you be expected to know all of these?

The most important things you need to do for the purposes of foreign exchange trading are:

• Know when each leading economic indicator is due to be released in the country whose currency you are trading.
• Understand which aspect of the economy is focused on in the data - e.g. inflation, economic growth, confidence, etc.
• Remember that the crucial issue is not the actual data, but the extent to which it falls within the expectations of the market. For example, the fact that there is a rise of 0.3% in the CPI would not be as important as the fact that the market had been expecting a fall of 0.1%.

This can provide you with vital clues for foreign exchange trading. The sooner you can make use of them after they appear, the more profitable your trading will be.

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The Process of Trading Currencies Online

The existing foreign exchange, forex, or currency trading market is worth of nearly $2 trillion of transaction daily. This is, unquestionably, the largest and most lucrative financial market to lure any investor.

The processes of currency exchange to take place, a robust, proven, and efficient infrastructure is required that will rapidly process the huge volume of orders, receipts, and carry away all other assorted computational tasks. There are innumerable types of parameter working together and influencing the global trading process.

The logistics behind modern currency exchange has evolved over several centuries and mostly driven by a series of conventions. Thanks to advances in modern technology, the process of exchanging currency has progressed from a slow, cumbersome, paper-based effort into a dynamic, computer-driven marketplace. It has opened up to the small and medium level investors with increasing potential and complexities.

There are approximately 164 different global currencies that are traded. The majority of transactions involve a small subset of this group. The most popular are USD (United States dollar); EUR (European Union euro); GBP (Great Britain pound); and JPY (Japanese yen). The global market is virtual and open round the clock.

Most trades take place on cash market, where prices are quoted in "pips," which is the last significant decimal of the given exchange rate. Because the number of decimal places varies by currency, knowing the typical exchange rates for major currencies can help in avoiding confusion. An exchange rate of 1.1582 is quoted either as 82 for small figures or as 15 for large figures.

The two types of trades on the cash market are the spot market and the forward market. In spot trades, the transactions are considered to be immediate, as it must close within 2 days after the trade is matched. In the forward market, the transaction closes any time beyond 2 days. It can be several months but you must remember that the longer the close, the greater the risk of a currency fluctuation.

One extremely important concept for the process of currency trading is the bid and the quote prices. Bid is the price offered by a buyer. Quote or ask or offer is a price placed by a seller. The difference between these two prices is known as the spread, and it is quoted in pips.

When the buyer and seller agree on the transaction, a trade is executed, and currencies are exchanged. This exchange not a physical one but involves a series of accounting entries made by the two parties, which is recorded as the new positions.

Every process of currency trading involves two elements: buying one currency; and simultaneously selling another currency. So it is buying cheap and selling dearer that ensures a profit.

So you will have to consider the constantly fluctuating exchange rates to book a profit. But never underestimate the potential of a risk management feature that can save you from losing your investment in the process of currency trading.

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Forex Currency Trading - The Latest Vogue

Forex currency trading is something that is almost becoming a sort of fad in many parts of the world. Before you take a plunge into forex trading it is always preferable that you equip yourself with at least the basics of it. Such knowledge is always bound to stand by you in the long run. You should for instance always educate yourself about the currencies that you intend to trade. You should always know a lot of things in detail about the country whose currency that you intend to deal with in the forex market. Such knowledge will help you in predicting the market tendency much more accurately.

Experts in the field always recommend beginners to initially go in for smaller accounts and then gradually move on to higher accounts. It is because in the field of forex currency trading it is only through practice that one gets perfect. Starting off with a mini forex account for example is a good option which lets you minimize your losses while you also get to learn about the intricacies of the forex market.

It is only through constant practice and with experience that you will be successful in the forex market. This is one reason why there are more successful corporations than individuals when it comes to the forex market trade, unlike the case of the stock market. Experience teaches you a lot of things in the field of forex currency trading. For instance margin trading by beginners is bound to make them lose a lot of money. Until and unless someone is sure about the entire process of forex currency trading, you should stay away from things such as margin trading.

Forex currency trading is a complex field involving a lot of players such as dealers, global money managers, international brokers and multinational corporations. There are many instances when even the governments of several countries intervene or get involved in the process, particularly when there is a need to provide stabilization to their respective currencies. It is for this reason that you should first of all equip yourself with the adequate knowledge before you deal with forex currency trading. Experts therefore always recommend that you test forex trading strategies initially with a demo account before shifting to bigger accounts. You should always remember that there is a significant amount of risk of loss involved in forex trading. A realistic evaluation of your expectations is what you need when you deal with forex currency trading.

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Forex Trading - Can Anyone Succeed?

Can anyone succeed in forex trading? Absolutely - as long as that person has the ability to accurately predict market swings and trend, and act upon them precisely for minimum risk and maximum gain. Forex trading uses currency form a large variety of countries and forms a trading marketplace where trillions of dollars are exchanged every day. It is important to understand the different parts of the market, in order to accurately interpret it.

The majority of money traded on the forex marketplace takes place between governments, banks and large financial institutions. International banks make up 50% of the forex market. The reason being they have millions of dollars of their customer's money to invest and profit from.

More recently commercial financial companies such as UBS, Deutsche bank, and Citigroup and HSBC have done extremely well on the forex market. In fact a large portion of their revenue is created through trading their investors money.

To get back to the initial question, yes anyone can succeed, but it is recommended to trade via a forex broker. The reason for this is that an individual will be able to achieve more leverage if trading through a broker- they will be able to accumulatively invest larger amounts and therefore achieve greater profits for their clients.

Savvy individual traders also achieve significant success on the currency trading marketplace. The key to success as an individual is minimizing risk (as most individuals will have a set amount to invest, and fall back upon) and conducting medium term trades where profit potential is at its highest. The key to most individual currency trader's success is forex trading software. Software such as the Forex Killer System allows trader's to accurately predict market trends, and exploit them for profit. The beauty of such systems is they usually have a 'demo feature', which allows the capabilities to be tested without having to invest any real money.

Conclusion

Anyone can succeed in forex trading provided they have access to as much data and trends as possible, know how and when to act upon these trends, and can consistently achieve profitable trades- no matter how small they are. The idea is to have consistent small profits, rather than large profits and large losses.

Want to learn an amazing breakthrough forex trading system which will help skyrocket your trading profits? Please visit:

http://www.forextradingsoftwarereview.com/Forex_Killer.html

Currency Trading Success - Getting the Right Knowledge for Success

One of the biggest myths of currency trading and achieving currency trading success is knowledge is the key, while knowledge is of course important, this is not the hard bit of currency trading. Anyone can learn currency trading yet 95% of traders lose - Why?

Anyone can learn currency trading its easy but traders make two fatal errors.

1. They learn The Wrong Information

When I talk to traders I am bemused at what they think it takes to be successful and they learn information that is guaranteed to make them lose.

For example - they want to try day trading, think you can predict currency prices or that buy low sell high is a great strategy and of course they lose. These are just 3 examples but there are many more.

Forex trading is all about learning the right information and avoiding the myths.

Most traders think they can take short cuts and believe making money is easy, in forex trading but of course its not and you wouldn't expect it to be, with the rewards on offer. The good news is its not hard either, if you know how to get the right forex education and apply it.

2. They Think Working Hard Will Help.

Other traders I speak to think that the more information they have the better and the more complicated their forex trading strategy is the better it will work

Wrong again.

You don't get paid for effort in forex trading you only get paid for being right with your trading signal.

Furthermore, complicated systems do not work as well as simple ones as they have too many elements to break - all the best currency trading systems are simple.

Let me give you an example about working smart rather than hard and achieving forex trading success.

In 1983 trading legend Richard Dennis conducted an experiment that set out to prove anyone could learn currency trading. He took a group of people of all ages, both sexes and of varying levels of education and taught them to trade in 14 days.

None of them had ever traded but after 14 days, they went on to trade, made Dennis $100 million and many became trading legends.

In two weeks they learned all they needed to know which leads me onto the next point

3. Discipline is the hard part

Trading is as much about mindset as it is about method.

Dennis focused on teaching them a method but he also made it simple and easy to understand which ensured they could trade with discipline.

If you don't have the discipline to follow your method through the bad periods - then you have no method.

Discipline comes from inner confidence which comes from understanding and these three key areas are the ones all successful traders have.

Learning forex trading is easy, if you focus on getting the right forex education - if you do that you then need to conquer your emotions to trade with discipline and win.

The equation for success is really

The right Knowledge = Simple Robust Trading System + Applied with Discipline = Forex trading Success.

Acquiring discipline is not easy - this is the hard part of achieving currency trading success.

We will look at this key area in more detail in part 2 of this article.

PROFESSIONAL FOREX TRADING COURSE and FREE ESSENTIAL TRADER PDFS

For free 2 x trading Pdf's with 90 of pages of essential info and an exclusive Currency Trading Course visit our website at: http://www.learncurrencytradingonline.com/index.html

Forex Trading Strategy - Why You Can Never Predict Forex Prices

Many new forex traders think the core of a forex trading strategy should be predicting where forex prices will go. Try it and you will lose, you will win if you trade in a different way so why is prediction not the way to make money? Let's find out. If you are predicting you are in effect hoping or guessing which is not a way to make money in any venture let alone forex trading. You cannot predict the future and if you try, your predictions will be as accurate as your horoscope.

There is however a big market in people who say they can predict and many theories that say you can such as Elliot wave, Fibonacci and Gann. They argue that as human nature is constant so the markets must be as well. However if you think about it this logic is obviously not true, because if markets were predictable with science, we would all know the answer in advance and there would be no market.

Markets move based upon uncertainty and while human nature is constant, it is not predictable with science - trading is a game of odds not certainties. If you want to win you trade the reality of price change and don't try and guess in advance.

For example if you see a market testing a level of resistance you do not simply enter a trading signal - if you do you are trading against the trend and you could be wrong. Instead you wait for prices to test resistance and wait for prices to turn back the other way. Sure you miss the turn - but you couldn't predict that anyway, so there is no point trying!

How do you know when to trade.

The secret of correct market timing is using momentum oscillators. There are many you can use and three of the best are: RSI, ADX and the stochastic indicator. We don't have time to go through exactly how they work here simply look at our other articles and make them part of your essential forex education.

The key advantage they give you with your forex trading strategy is they allow you to gauge shifts in price momentum. You can use these shifts, to allow you to trade the reality of a price change to achieve better market timing and more forex profits.

The forex traders who rely on prediction lose and are generally na? or greedy traders who think forex trading is simply a walk in the park - its not and neither would you expect it to be. The real pro forex traders don't rely on hope or guessing or attempting to buy market tops or bottoms they look at and trade the reality of price change.

The way to succeed in forex is simply to look at support or resistance and time your entry on shifts in momentum and you should not just do this with a view to these levels holding. You also need to buy or sell breakouts of new market highs or lows. It's a fact that most markets develop their best trends from these highs and lows and you need to learn to go with them and enter the market.

It may look like your getting in at good levels and its tempting to wait for the pullback - but these moves tend to not pull back and accelerate and offer the biggest profit potential. The market price is the right place and if you cut out prediction and trade the reality, you can have the basis of a forex trading strategy that can make big consistent 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 a great currency trading course visit our website at: http://www.learncurrencytradingonline.com/index.html

Forex Trading - Why You Should Invest

Forex trading is an extremely lucrative investment option where money can be made 24 hours a day via investing in foreign currencies. The forex marketplace is simpler in terms of product (currencies) you can invest in when compared to other investment options such as the stock market.

As mentioned the foreign exchange market is constantly trading- as the sun sets in one country, it rises in another. What happens to one currency, directly affects another- and the gains are not always inherently good or bad.

Banks are most commonly the source the source of currency trading, as millions of dollars are traded daily. So the question must be asked, should you get involved in forex trading? If you are already trading in the stock market, you would have a reasonable grasp of concepts you need to trade successfully

Trading on the stock market essentially involves investing money in companies and watching how they consequently perform. In foreign exchange you are basically buying and selling foreign currency, and monitoring swings and trends giving you signals when it is profitable to buy and sell. Using forex trading software is a great way to get a feel for the marketplace. You will almost always be supplied with a demo account which will allow you to be involved in the market without risking any of your own money.

Software such as Forex Killer allow you to create such demo account's, but also supply users with credible trends and signals, which literally tell you when to buy and sell on the stock market. You can see the software in action via the demo option, to see if your trades are going to be profitable. Further to forex trading software, broker's most certainly have a place in currency trading.

To be involved in the foreign exchange market as an individual you require a broker or institution to represent you.. Individuals are also called spectators, as the amount of money they invest is tiny compared to governments and institutions. Having only a small amount of money is not a reason to not invest, a forex broker can assist in determining what your best options for investing are. Specifically in the US there are strict guidelines as to who can operate as a broker. Always be wary and careful of scams- specifically on the internet.

Conclusion

The foreign exchange market is a fantastic investment option from every angle. The main reason being there are not too many options for investment on the market, simplifying the process of making profitable decisions. Further to this the use of forex trading software and broker's can greatly assist trading, and further increase profitability.

Want to learn an amazing breakthrough forex trading system which will help skyrocket your trading profits? Please visit:

http://www.forextradingsoftwarereview.com/

Understanding Interest Rate Influence On Forex Market

Forex traders around the world are waiting for the last US Federal Reserve interest rate announcement for the year on Tuesday, December 11, 2007 at EST 1415hrs. Most Forex market traders are anticipating at least a quarter point cut from the current 4.5%.

Interest rates are simply defined as the amount of money a borrower must pay to a lender in order to hold their money. The lender provides money to the borrower which is the bank and in return, after specific time duration, will receive interest in conjunction with the original sum he or she lends.

For newbie entering the Forex market arena, you may not fully understand how significant this decision can affect the foreign currency market. In reality, interest rates play the most important role in moving the prices of currencies in the Forex market. A country interest rate dictates the flows of money. As currency represents a nation's economy, differences in interest rates affect the relative worth of currencies in relation to one another

When a country's central bank raises their interest rates, naturally, investors will want to capitalize on the higher interest rate returns by shifting money and asset into the country. Hence, as a country interest rates rise, their currency is seen as being stronger than other currencies. An increase in interest rates encourages traders to invest within that market and causes the demand for the currency to rise. As demand rises, the currency becomes scarcer and consequently more valuable.

Up till now, the whole discussion is focus on what will happen if a nation's central bank raises its interest rate, but what if the central bank decides to lower their interest rate? Take the above scenario, if Fed decides to further lower their interest rate, US dollar will weaken. But will it falls further against other major currencies? The outcome is unknown as only the Fed will know by many basis points they decide to lower. If this time round, the cut is a mere quarter point, anything much may happen as most traders already factor in this cut. This is called "market expectation". If the US Fed decides to take a more drastic cut of 0.5% basis point, I am sure the dollar will becomes even more bearish and will continue its fall against most major currencies.

Forex Trading beginners may be wondering why the US Fed wants to continue to lower their interest rate. The US Fed has been lowering interest rates to encourage borrowing and stimulate the sluggish US economy. In Forex Trading, a major side effect of a lower US interest rate is that lower rates make dollar-denominated securities less attractive to global investors.

JoonTrader is the owner of forexdiscover.com. For further recommended resources on how to make money in Forex Trading. Click here to grab the secret to consistent pips.

Guide to Choosing Your Perfect Forex Trading Broker

It is not so straightforward to find a forex trading broker that can meet all your needs. There is no perfect dealer. Maybe as long as your broker can meet your criteria, they are considered "perfect" to you. With more than 100 trading platforms online, going through each broker one by one can be confusing if you do not know what to look out for in a reliable, professional and reasonable forex trading broker. If you are reading this, you just found yourself some golden tips here.

By now, perhaps you are fully aware that the foreign exchange market is not regulated by any central body. Since this is so, it can be subject to fraudulent or less than ethical and professional practices by some dealers. Read the tips below and make sure you apply them and you can prevent falling into scams and end up with a professional forex trading broker you can work with for a long time to come.

1. Do not be embarrassed to ask the prospect for references.

2. While the currency market is not controlled by a central body, each country may have its own regulatory body or watchdog organization to exercise certain control over the business activities of these forex trading brokers. If the dealer is based in the US, do a check at Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) to see if the dealer is registered with these two organizations. Find out if there is any bad report or complaints against your prospect.

3. Make a comparison of the account specifics of each prospect. You should compare the minimum opening deposit, spreads, leverage, commission charges and more. Always be sure to ask the prospect if there are any other charges other than what was shown on their websites. They are obliged to inform you. This step is helpful as not all brokers who say they offer the lowest rates on their websites are truly honest about it.

4. An easy to navigate trading platform is important especially if this is the first time you are trading currency. This is why it seems puzzling why some trading platforms that are created are so difficult to use. If the prospect offers a demo account, sign up with them.

5. Requoting can really cost you big time. While some brokers entice you with the "lowest bid/ask spreads and commissions", they may practise requoting. This means that when you carry out a buy/sell order for a currency pair, the price you see is not what you get. In short, you are charged at higher prices if you buy, and at lower prices if you sell. Either way, the odds are against you.

Do not undermine this requoting matter. Some currency dealers may requote on a difference of more than 8 pips. That is a lot if you are trading on small price ranges. There have been complaints from traders about many which requote whenever they are profiting. Avoid these and try finding one that does not do so or at least not so often.

With these golden tips, you are now equipped to search for a professional broker to open an account with. Currency trading is not for the faint hearted. They can be risky but with controls and certain good investing habits, the profit potential is huge. Discover from my website which forex trading broker has scored well for each of the aspect we spoke about earlier and pick up more useful tips on foreign exchange trading today.

Learn everything about forex trading from Davion's wildly popular Forex Trading Made Easy blog - from mastering the basics of foreign exchange trading to discovery of new trading tips, strategies, tools and more.

Why Gold Should Be Part Of Your Stockmarket Portfolio

One of the great advantages of CFD trading is that it permits you to seamlessly move within asset classes at little cost, and opens up a wealth of new contracts not just in stocks, but across a range of investment classes. Clients of Blue Index will be aware that we carry out analysis of the gold price on a daily and weekly basis, and our track record in pinpointing the regular movements in the price of the metal has been excellent.

Our long term stance has been bullish since gold ended its 20 year bear market at the turn of the millennium, and for those CFD traders who are not aware of the big picture, this article updates our rationale for long term investment in gold. It should be noted that since we began daily coverage two years ago, gold is up 80% in dollar terms, and over 50% for sterling based investors. We think there is a lot more to come.

Why the outlook for gold is so bullish

The starting point for the analysis of any commodity is supply and demand, and for gold the simple fact is that supply is declining and demand rising. As it stands, and because of the previous lack of profitability in exploiting new mines, most major sources of supply are declining and the global gold market currently faces an annual supply shortage of about 600 tonnes.

The gold supply

World mine production began to level off in the 1990s as gold traded a wide range but remained significantly lower than previous peaks, and by 2004, production was falling at a rate of 5% p.a. according to the World Gold Council. This as yet has not changed significantly and is a long term factor because it can take almost a decade for a rise in gold prices to generate exploration and eventual exploitation of new mines.

In terms of the existing supply, much of this has come from ongoing central bank offloading of gold, and here many developed countries have now stopped both official and unofficial sales of gold. Previously, and as a result of the need to diversify, central banks carried out regular gold sales, but in some cases (see below) the reverse is happening as finance ministers see the need to protect against the inflationary consequence of fiat monetary policies that are rampant across major western economies.

Another aspect of supply that is changing is forward selling from gold producers, where output prices were traditionally locked in to protect against potential future falls in gold. This was a normal part of commodity hedging, and to some extent it might have helped keep the price down, but given the ongoing bull market, mining companies now run the risk of losing potential future profits if they hedge into rising prices. It is estimated that global gold producers have reduced forward sales by over 40%, which would result in a drop in supply of almost 1000 tonnes.

Demand for gold

A big change in demand has come from central banks in China, Japan, India and Russia as a result of the need to diversify their vast US dollar reserves to some extent. The Russian central bank has hinted more than once that it plans to double its gold reserves, and the subject has regularly been mentioned by the Chinese central bank. All this is mainly as a result of the high proportion of trade-related US dollars flowing into their coffers, which has made them proportionately more reliant on the value of those dollars held.

As an example of potential demand, Japan and China have the eighth and tenth largest gold holdings in the world, but their current gold holdings are equivalent to just 1% of respective reserves. An increase of 50% in their gold reserves for just these two central banks would be the equivalent of buying over 600 tonnes, which is around a quarter of world annual mine production. Russia and India's gold as a percentage of total reserves is slightly higher but stands at just 4%, so there is scope for additional demand here.

Asset allocation and investment in gold

Back in the 1970s commodity investment was an essential part of asset allocation for diversified portfolios, but despite the long term bear market ending just after the turn of the millennium, many investors continue to shun gold stocks. The two biggest gold stocks in the world are Barrick Gold Corporation, now valued at $36bn, and Newmont Mining, worth ?21bn, and the total value of the top ten gold stocks is less than $150bn. If you compare this with the current value of Exxon Mobil at $505bn and it can be seen how insignificant gold stock valuations remain given the continued potential of this sector.

The total market for physical gold is also small, and stands at around $3.5 trillion, but the total value of the US stock and bond markets alone is close to $40 trillion. For asset allocation purposes, a 1% move into gold and gold stocks would equate to the purchase of eight times the annual production of gold worldwide.

M3, inflation and the gold price

With M3 money supply growing rapidly in most of the developed economies, the only outcome other than drastically higher interest rates, which looks unlikely, is a devaluation of currencies as has been the case throughout the last century. Should the dollar continue to move to lower ground as measured by the dollar index, which looks likely, further diversification into gold and other asset classes as a protection against the falling value of dollar reserves is likely to accelerate.

In 1980, the gold price peaked at $850 in times of raging inflation and 27 years later it is still below that peak level. For it to get back to those levels, which might be seen as extreme at the time, it would now need to be closer to $2000. In real terms though it looks dirt cheap, and long term investors should view $1000 as a realistic target in the next couple of years, which is 25% higher than the price right now.

Mike Estrey is the Head of Research for Blue Index, the Day Trading specialists in Contracts for Difference. Foreign Exchange Trading also forms part of their extensive services.

Make Money Fast - A Simple Plan for Big Profits

If you want to make money fast you can and you don't need much to start with - but you do need a plan and a proven method and this is what this article is all about.

It's about becoming a forex trader from home - Before you say I couldn't do that or it's to expensive, check out the following facts below.

- Forex Trading is a learned skill and anyone has the potential to get the right knowledge to succeed - in just a couple of weeks.

- Its not to expensive either, you can open an account online with $500.00 or less and while you wont make big gains quickly on a small amount like the above you can Leverage this cash and that's why the opportunity is so lucrative

Leverage the key to big profits

If you put down $500.00 with a broker, they will let you trade 100 times this amount - $50,000.

That makes things a little more interesting!

Of course leverage is a double edged sword, it can work for or against you - to make it work for you, risk control is essential.

The best way to trade forex is with forex charts and follow trends, (if you can read a graph and recognize patterns you can trade successfully). It's a proven fact that currencies trend for long periods up or down as they reflect the economic health of the country.

You aim is to lock into these profits and follow them and simply liquidate your losers quickly. Let me now give you a story that will inspire you.

Fact - ANYONE Has the Potential Here's Why...

In 1983 legendary trade Richard Dennis, set out to prove that anyone could learn to trade. He gathered a group of people of all ages, both sexes and of varying educational skills, he then taught them a simple trading method in just 14 days.

The result?

He set them up with trading accounts and they went on to make him $100 million dollars and become some of the most famous traders of all time. In fact many still trade today.

Now you may not get as rich as the above group of traders - but it shows you that anyone can make money with a plan.

Is it that easy?

The answer is yes and no.

Forex trading is easy to learn - but you must adopt the right mindset and that means the discipline to cut losses and run profits - if you can do this, then you are on your way to currency trading success.

You can educate yourself on the basics of using forex charts quite easily it is then a question of having the discipline to apply your method. Do not be fooled into thinking discipline is easy it's hard to follow a plan when money is on the line - but again it's a skill anyone can learn.

If you want to win at forex trading all you need is a desire to succeed, a willingness to learn and the discipline to follow your plan - if you do this forex markets offer you an opportunity to build wealth and change your life.

The Real Question is:

Do you have the desire and are you up for the challenge?

If you are welcome to the worlds most exciting business opportunity - trading global FX For profit.

LIVE THE DREAM
BECOME A PROFESSIONAL FOREX TRADER FROM HOME!

Even if you have never traded before you can trade like a pro so get 2 x free trading guides and an exclusive Forex Trading Course visit our website at: http://www.learncurrencytradingonline.com/index.html

Tips for Online Currency Trading

Did you realize that currency trading is the world's largest business? Yes, it's true. Over three trillion dollars worth of transactions take place each and every day in the world's currency markets and online currency trading is now available to everyone.

The markets are extremely volatile and fortunes can be won and lost in mere minutes. But please understand that currency trading is anything but some sort of get rich quick scheme. It is like any other investment and can be compared to the stock market. Be warned, if you are interested in participating in currency trading you had better get a sound education or you will surely lose your money.

The currency market is an informal, unlike the formal stock exchange, market where dealers buy and sell currencies in order to make a profit. Currency trading is open 24 hours a day, 7 days a week because it is a global exercise. To borrow a phrase from the British Empire, the sun never sets on the currency markets.

To invest in online currency trading, you need to open an account with one of the many reliable firms that you will find on the Internet. You must deposit a minimum amount of money and fill out the requisite paperwork before paying allowed to trade such currencies as the French franc, German mark and Eurodollars. I would strongly recommend to the newcomer to take it very slowly as he embarks upon the world of online currency trading.

The market operates on a very high margin-trading basis. That means you can control a great deal of money by putting down only a fraction of it. It is called leverage and you are usually allowed approximately 10 times your cash position. That can be a big advantage for making profits. It can also cost you a lot if your trades go against you, so you have to be on top of the situation. This is not a game.

If you are going to venture into online currency trading, study the trading and the markets. Many of the larger online currency trading firms offer information and training materials that are extremely helpful. It would also be beneficial to learn about technical trading as that is what most short-term traders use to help make their buy and sell decisions. There are mountains and mountains of information available on the Internet.

Online currency trading is not gambling but you need to know what the investment is all about and how it works before you consider trading. Look for a company that has been established for a long time and has a solid track record. If you are not sure about something and by all means ask as many questions as you need.

Also, note that online currency trading is not for everyone but for the people that take the time to learn the business, it can be very profitable and rewarding. You should only use money that you can afford to lose and never trade with the mortgage or tuition money. If it's done right they can be quite exciting and lucrative. The market moves quickly and if you enjoy fast paced action, nothing beats online currency trading.

About The Author

Morgan Hamilton offers his findings and insights regarding online currency trading. You can get interesting and informative information here at http://www.bestxchange.com/financial-information/finance/online-currency-trading.html

 

Forex Currency Trading Systems

While the market is swamped with websites and books offering advice on the 'best' and 'newest' forex currency trading systems, it is important to do a thorough check of the system to ensure that it really works. There are a large number of such forex trading systems that are completely fraudulent or simply do not work, and have been created with the sole intention of making a quick buck. But despite this, there are plenty of forex currency trading systems out there that do work and can be quite reliable if used in a disciplined and consistent manner.

Everyone is looking for a forex trading system that works and gives them high and continuous profitability over a period of time. One must be realistic in searching for a good system, and keep in mind some essential factors when selecting a forex trading system. Firstly, it is critical to fully understand the logic on which the trading system is based. Only a complete understanding will enable you to use the system effectively over a long period of time. Not only grasping the basic logic, but also agreeing with the forex trading system it is important. The forex trading system of your choice must seem logical and intuitive to you or else you will find it impossible to stick with it.

Secondly, you should embrace a good forex currency trading system for the long term, and put in the appropriate amount of research and trial based on this idea. A solid system will tap in to long term patterns and the potential for sustained success of any system in the short term is negligible. Thirdly, be ready for a hit. Be financially prepared for a downturn and based on the assumption that at some point you will face this event, plan for your staying-afloat strategy. Emotionally and money-wise, be ready for the big one when it comes.

When you commit to a forex currency trading system, ensure that you give the system adequate time to start showing profitability. This may be not be months, but possibly years, since every system experiences a time when it produces losses or lowered returns. Give your selected system a fair trial and try to trade consistently and logically. Additionally, some systems will not offer real trading data, but will be simulations that are based on a particular logic and work with historical data. As long as the logic is solid, there is no reason to reject these systems outright.

The simplest forex trading systems tend to work most effectively in a rapidly shifting market place. Just because a system seems complicated, there is no reason to think that it will perform better. Pick something user friendly and intuitive that appeals to you. Identify the major trends that affect a currency and select a forex trading system that works in tandem with it. Finally, a cardinal rule of the trade: Always use on a trading system that is disciplined and rational. Do not be swayed by emotions. This has spelled the downfall of some of the most influential and successful forex traders, including the pros, and must be avoided at all costs. While it may seem unlikely to you now, once you are in the midst of your forex trading experience, you will find it easy to be moved by your emotions.

The biggest advantage of a forex trading system is that it works completely without emotions and if it can be followed mechanically, it will be the key towards a long term profitable career in forex trading.

 

About The Author

Andrew Daigle is the owner, creator and author of many successful websites including a free forex trading and educational website called ForexBoost at http://www.ForexBoost.com and http://www.cashcurve.com, a website for learning about other online business opportunities.