Jul 26 2010
In this article we wish to share our Forex trading knowledge with every
Singapore trader who has no or little Forex trading experience.
1. If you are going to start real trading in Forex, deposit the available money only. Never invest your last money for currency trading that you cannot afford to loose. If you don’t have available money, it is better not to start real trading at that moment in order to avoid the psychological pressure from yourself and your family. You must feel emotionless when trading in Forex market.
2. Don’t expect always win and make profit while trading Forex. Even the most experienced traders have losses. The thing is to know to carry your losses and increase the number of profitable trades.
3. Don’t go against your own trading tactic. Experience shows that you should not change your trading position every time when the quotes jump or make a rapid movement. Not following your trading strategy may lead to the unsuccessful trading.
4. Don’t follow the majority of traders. Professional traders are often feel uncomfortable when they see that their positions are the same as that of the most of traders. Experience shows that the majority is often mistaken and the opinion of the crowd will be in most cases wrong. There are many advisers, signals and analytics around. It is clear that in many cases these instruments give wrong recommendations so sometimes it is smart to act controversially.
5. Take control of your emotions. Keep yourself unemotional when you trade. If during long practice you got enough skills and developed good trading method, uncontrolled emotions can desroy everything and make you much looses.
6. Don’t follow advices of other traders.
Trading in Singapore is an personal work and no one knows for sure where the market is going to head. Practice as much as possible to develop your best trading tactics that will help you have more profitable trades than losses and follow it.
7. When trading, concentrate on few currency pairs and check their price changes. Always analyze the rates of the group of chosen currencies to have chances on successful trading. For example if one of the currencies becomes stronger it makes the other one weaker and makes the price changes. The experienced traders always try to buy the stronger and sell the weaker currencies. Many
Singapore brokers provide their traders with the complex charts where you can see the graphs of few currency pairs at the same time.
8. Always analyze your trades and look for the way to improve your trading technique. There is no existing strategy that provides with 100% profit. But if you manage to create a strategy that gives for sure at least 55% profit, it is already a great success!
Feb 20 2010
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This Next Video will help with some much needed Emotional Trading Rehab. You're trading decisions should be boring and emotionless as you Stick To Your Trading Plan! If a circumstance arises throughout the trading day that you do not immediately and effortlessly know how to react to...
You will almost always make the wrong choice and convince yourself you did the right thing. If it was not within your plan, you were wrong. Trade Smart, Trade with a Plan
This Video Answers All of Your Questions…Must See! You Can't Afford To Miss This Video! Trading Myths Debunked! The Raw Truth About Your Trading! Awesome Video - This Video is a Must See! No Opt In Required. Sometimes the Truth Hurts, but you know you need to hear it. Inside is nothing but the raw truth when it comes to your trading. Todd sat down over the weekend and recorded a new video that Debunks the Five Biggest Trading Myths.
It even gives you a behind the scenes look into how the famous "Head Turtle Trader" turned $400 into $200 million, and then taught 13 others to do exactly the same. TAKE THESE LESSONS! They're Free, Apply them to your Trading TODAY! Todd is holding a special webinar on Thursday Night and the link is right under the video. But just in case, you can register here as well. This webinar will max out so be sure to register early to secure your seat.
Bill Poulos: You're invited to a special trading educational webinar I'm hosting with 14-year market veteran Todd Brown called:
5 Keys To Developing Profitable Trading Strategies
Here's what you'll learn live with Todd:
* Proven trading systems that you'll be able to immediately access & deploy...
* Programming your "trading mind" through neuro-associative conditioning...
* Trading plan "must haves"...
* Why you need the "TA_TI Trading Model" & how it can change your trading forever...
* Todd's trading "rules of engagement" (where to enter, where to set stops, and where to take a profit)...
* ...and much, much more...
It all happens this Thursday, February 18th, at 4pm Eastern. To secure your private seat, enroll here (it's "on the house")... That will get you the password that will let you in this "closed-door" training session. See you Thursday!
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