Mar 9 2010
The forex market is a financial market set up for the purpose of trading currency. It enables traders and businesses to convert one currency into another with the aim of making profit in the transaction. Find out more at
Forex Torpedo.
It was not possible for the average person to get involved at one point but with the arrival of the internet it is far easier for anyone to set up a trading account. Just because it is possible to get started easily you should be cautious and not risk anythin in the process.
Forex Torpedo.
You may have noticed that there are some websites which allow you to set up a practice account before you make the step to proper trading. This is a good place to start but you will not get the exact same experience until you start putting your own money on the line. It is simple to take big risks when you don't have anything resting on it.
One of the main factors of trading when you have gained some knowledge is discipline. If you listen to anything then you should listen to this. If you can follow a consistent plan and not giving in to poor discipline you can be profitable. This is a defining part of becoming profitable. You may make some gains but sooner or later you will lose everything.
Forex Trading Systems.
Start to watch how the market works and something very complicated will start to make more sense. Get used to this first before you even think about investing money. Rather than investing money you can get a feel for how things work, at least at the beginning.
You should also consider what you will base your trading on. Some people like to look at the political and economic factors and analyse this in great depth. Or you may prefer to study currency charts and use them as your reference point. You could also use a combination of both if you prefer.
And finally you will want to do what the majority of people never do and actually do something to further your potential.
Feb 16 2010
Learn this powerful secret
Fibonacci Retracement method FREE that pulls 500+ pips per trade. Watch this Fibonacci Strike Video FREE and see this powerful method in action. Get these
Forex Scalping Cheatsheets FREE. These forex scalping cheatsheets give you the five best forex scalping methods plus the best times for scalping. Watch these
Triple Threat FX Trading Psychology FREE Video Series by Todd Brown that reveal the secrets of making millions in forex trading. Bruce Kovner was a NYC Taxi Cab driver who borrowed $3,000 on his credit card in 1977 and started trading forex. He ended up making $11 Billion.These FREE Trading Psychology video series will explain the secret that psychology and mental discipline is far more important than the method or for that matter the strategy in trading.
One of the Forex Day Trading Strategy that is often used by day traders is to buy and sell the same currency pair, same lots same time. In other words, you are taking both long and short positions in the same currency pair at the same time.
For example, buy 1 lot of EurUSD at 1.4239 and sell 1 lot of EurUSD for 1.4234. Note the difference between the buy and sell rate. This is the spread. Why pay the spread? The reason for buying and selling the same currency pair, same lots, same timing is that you are hedging your position. The up or down movement of the currency pair will provide you the opportunity to make profit. Place a stop loss of 5 pips and take profit of 15 pips on both the orders.
Suppose the rate goes up. The take profit order will close your long position (buy order) when it reaches a profit of 15 pips. For the sell order, the stop loss ensures that you only lose 5 pips. Your net gain 15-5= 10 pips. In this case, the winning buy order provides the foundation of 15 pips. By placing the stop loss you lock in your profit of 10 pips. 10 pips gain means $100 profit on a $1000 deposit with 1:100 leverage.
Never ever trade without a stop loss otherwise you can lose your deposit in no time. If the EurUSD rate goes down, stop loss closes your buy order at 5 pips loss while the take profit order closes your sell position when you reach 15 pips. Your net gain: 10 pips. This forex day trading strategy works very well in a yo-yo market. How to get a yo-yo market? Time your orders with a fundamental announcement.
Now, you can practise with this forex day trading strategy on your demo account. Do at least 10 trades. This day trading strategy does not need more than 10 minutes for you to implement. With practise you can increase your pips to 20,30,40 or even more.
The days of manual trading are almost over. With the introduction of the metatrader platform and the use of MQ4 robotic script, most of the forex traders now use expert advisors also known as robots to trade automatically. People are making thousands of dollar on autopilot with forex trading robots.
Jul 17 2009
For a while I have noticed string correlation between the DJI and the Fx trading market, I spent countless ours studying this phenomena until I finally had an idea to sum it all up in a 32 MB multimedia package summing this
Forex Strategy that explains in details how to use this strong correlation to trader advantage. This package shows the average trader two ways to win in Forex and one of these two way is via the close watch of the Dow Jones industrial average.
currencies valued by dollar move in the same direction following the Dow Jones Index, meanwhile US dollar valued by other international currencies move in the opposite direction of the Dow Jones movement with strong correlation specially while the London and New York sessions are still overlapping. A trader can take advantage out of this relation, because currencies and the DJI are so correlated and the delay time is only a fraction of a second, no one can really use the index to expect what the currency prices will be in the next second, however, there are observations that I noted in my book that will allow any trader spot the best BUY and SELL opportunities during the Europe and USA overlap trading period.
Forex Scalpers are the ones who can benefit the most from this package and by the end of the NYC London overlap they can spot as many as 5-10 great trading opportunities where they can attain 10 to 15 pips in quick profit based on this
Forex system
Also in this package I provided another system for Forex trading and I tested it on hundreds of Forex accounts, another strategy based on daily patterns where the trader does not have to sit all day watching his trades. He simply makes only 2 trades a day or 1 trade every 12 hours. he sets a profit limit and checks back after 12 hours. Out of 100 days back that I tested, the strategy wins 96 times if the profit limit is under 15 pips. If you are to be satisfied with the great 10 pips per trade then you could have 99 winning trades in raw if you follow the daily pattern as directed in this multimedia Forex tutorial.
The package also comes with free trading open source software All famous Metatrader built in, so to start a demo practice account all you need is a click with no additional downloads and no web forms to fill out. Demo accounts will be automatically setup with a good broker where demo accounts mimic live accounts almost 100% except for extremely large orders.
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