الأربعاء، 28 مايو 2008

Forex Training


by: Raul Lopez
Should new Forex traders take Forex trading courses or join a Forex training program? Definitely yes; by now you have probably heard that only 5% of traders achieve consistent profitable results when trading the Forex market. The main reason for this is the lack of education. Don’t get me wrong here, taking a Forex training program or a Forex trading course won’t guarantee profitable results, nothing can, but choosing the right Forex training program or Forex trading course will definitely put the odds in your favor. Before spending any amount of money on any Forex trading course or Forex training program there are some important aspects you need to take in consideration. There are many training programs available, but not every one of them suits the needs of every trader. The first thing you should be looking in a Forex training program is the content of the material. Unfortunately, most courses or training programs focus or spend most of the time on basic concepts. Though these basic concepts are important, spending most of the course on them won’t help the trader to make consistent results. The following subjects are what I consider the most important aspects of trading and every training program or trading course should address: Forex trading basics. Review basic concepts such as: margin, type of orders, a little background, bid/ask, rollover, etc. You need to make sure you understand every single concept to perfection. Main drawbacks of Forex traders. Being aware of the common mistakes made by Forex traders and knowing how to handle them will prevent new traders from making those mistakes. Technical and fundamental analysis. These are the two main approaches adopted by Forex traders. Knowing how to properly apply each concept will definitely put the odds in your favor. The three pillars of Forex trading. I consider that these three subjects have the most impact on every trader trading account. Forex trading system development. Having the right system is a must if you want to have consistent profitable results. Having a system that doesn’t fit you will cause a series of problems that will make your trading account vanish away (second guessing the system, not following your system, etc.) Money management. This is considered by many successful traders to be the most important single aspect of trading. Money management helps to increase your profits geometrically and at the same time limit your losses (i.e. a good risk reward ratio of about 2:1 will make you money in a Forex trading system that is right only 38% of the time.) Trading psychology. Being aware and knowing hot to handle the psychological barriers that affect every trader decision will put the odds in your favor. Other important aspects every training program should include are: Developing habits for success (such as discipline patience, taking responsibility of every action, commitment, etc.,) understanding and taking our trading as a business, risk and trade management. Another important aspect you should take into consideration when choosing a Forex training program is the mechanics of it, getting to know how the training program works. A good course will have the following: A live conference room, where you can apply everything learned under live market conditions. One-on-one feedback, every trader has different needs and requires special attention. For instance a trader wanting to improve the system and requires individual feedback from the instructor about it. Online trading course, a course that could be accessible through internet. A plus is a course where you are able to access the course at the convenient time for you, so you don’t have to change your lifestyle. A forum, where members can talk just about everything related to the Forex market and the Forex training program. Trading the Forex market is no easy task. It requires a lot of hard work. Making the right decision will definitely put the odds in your favor. Take your time when doing your diligence because it is a big and important step in a trader’s trading career. About the author:Raul Lopez is a full time Forex trader and founder of
http://www.straightforex.coma high quality Forex training company

Forex Trading Online - 7 Reasons


Forex Trading Online - 7 Reasons You Should!
by: Keith Thompson
Copyright 2005 Keith ThompsonForex trading online is a fast way to use your investment capital to it's fullest. The Forex markets offer distinct advantages to the small and large traders alike, making Forex currency trading in many ways preferable to other markets such as stocks, options or traditional futures. Here are seven reasons why you'll want to look into Forex Trading online.1 - Forex is the largest market.Forex trading volume of more than 1.9 billion, more than 3 times larger than the equities market and more than 5 times bigger than futures, give Forex traders nearly unlimited liquidity and flexibility.2 - Forex never sleeps!You can execute forex trading online 24/7, from 7AM New Zealand time on Monday morning, to 5PM New York time on Friday evening. No waiting for markets to open: they're open all night! This makes Forex trading online a very attractive component that fits easily into your day (or night!)3 - No Bulls or Bears!Because Forex trading online involves the buying of one currency while simultaneously selling another, you have an equal opportunity for profit no matter which direction the currency is headed. Another advantage is that there are only around 14 pairs of currencies to trade, as opposed to many thousands of stocks, options and futures. 4 - Forex Trading online offers great leverage!You can make the most of your investment resources with Forex trading online. Some brokers offer 200:1 margin ratios in your trading accounts. Mini-FX accounts, which can typically be opened with only $200-300, offer 0.5% margin, meaning that $50 in trading capital can control a 10,000 unit currency position. This is why people are flocking to Forex trading online as a way to highly leverage their investments.5 - Forex prices are predictable.Currency prices, though volatile, tend to create and follow trends, allowing the technically trained Forex trader to spot and take advantage of many entry and exit points.6 - Forex trading online is commission free!That's right! No commissions, no exchange fees or any other hidden fees. This is a very transparent market, and you'll find it very easy to research the currencies and the countries involved. Forex brokers make a small percentage of the bid/ask spread, and that's it. No longer any need to compute commissions and fees when executing a trade.7 - Forex trading online is instant!The FX market is astoundingly fast! Your orders are executed, filled and confirmed usually within 1-2 seconds. Since this is all done electronically with no humans involved, there is little to slow it down!Forex trading online can get you where you want to go quicker and more profitably than any other form of trading. Check it out and see what Forex trading online can do for you!About the author:Keith Thompson is the webmaster of
http://www.forex-trading-today.com,a site focusing on the latest Forex news and resources

Forex: Benefits of Trading

Forex: Benefits of Trading the Forex Market by: Raul Lopez
Trading the Forex market has become very popular in the last years. Why is it that traders around the world see the Forex market as an investment opportunity? We will try to answer this question in this article. Also we will discuss come differences between the Forex market, the stocks market and the futures market.
Some of the benefits of trading the Forex market are:
Superior liquidity.
Liquidity is what really makes the Forex market different from other markets. The Forex market is by far the most liquid financial market in the world with nearly 2 trillion dollars traded everyday. This ensures price stability and better trade execution. Allowing traders to open and close transactions with ease. Also such a tremendous volume makes it hard to manipulate the market in an extended manner.
24hr Market.
This one is also one of the greatest advantages of trading Forex. It is an around the click market, the market opens on Sunday at 3:00 pm EST when New Zealand begins operations, and closes on Friday at 5:00 pm EST when San Francisco terminates operations. There are transactions in practically every time zone, allowing active traders to choose at what time to trade.
Leverage trading.
Trading the Forex Market offers a greater buying power than many other markets. Some Forex brokers offer leverage up to 400:1, allowing traders to have only 0.25% in margin of the total investment. For instance, a trader using 100:1 means that to have a US$100,000 position, only US$1,000 are needed on margin to be able to open that position.
Low Transaction costs.
Almost all brokers offer commission free trading. The only cost traders incur in any transaction is the spread (difference between the buy and sell price of each currency pair). This spread could be as low as 1 pip (the minimum increment in any currency pair) in some pairs.
Low minimum investment.
The Forex market requires less capital to start trading than any other markets. The initial investment could go as low as $300 USD, depending on leverage offered by the broker. This is a great advantage since Forex traders are able to keep their risk investment to the lowest level.
Specialized trading.
The liquidity of the market allows us to focus on just a few instruments (or currency pairs) as our main investments (85% of all trading transactions are made on the seven major currencies). Allowing us to monitor, and at the end get to know each instrument better.
Trading from anywhere.
If you do a lot of traveling, you can trade from anywhere in the world just having an internet connection.
Some of the most important differences between the Forex market and other markets are explained below.
Forex market vs. Equity markets
Liquidity
FX market: Near two trillion dollars of daily volume.
Equity market: Around 200 billion on a daily basis.
Trading hours
FX market: 24hr market, 5.5 days a week.
Equity market: Monday through Friday from 8:30 EST to 5:00 EST.
Profit potential
FX market: In both, rising and falling markets.
Equity market: Most traders/investor profit only from rising markets.
Transaction costs
FX market: Commission free and tight spreads.
Equity market: High Commissions and transaction fees.
Buying power
FX market: Leverage up to 400:1.
Equity market: Leverage from 2:1 to 4:1.
Specialization
FX market: most volume (85%) is made on major currencies (USD, EUR, JPY, GBP, CHF, CAD and AUD.)
Equity market: More than 40,000 stocks to choose from.
Forex market vs. Futures market
Liquidity
FX Market: Near two trillion dollars of daily volume.
Futures market: Around 400 billion dollars on a daily basis.
Transaction costs
FX market: Commission free and tight spreads.
Futures market: High commissions fees.
Margin
FX market: Fixed rate of margin on every position.
Futures market: Different levels of margin on overnight positions than day time positions.
Trade execution
FX market: Instantaneous execution.
Futures market: Inconsistent execution.
All this makes the Forex market very attractive to investors and traders. But I need to make something clear, although the benefits of trading the Forex market are notorious; it is still difficult to make a successful career trading the Forex market. It requires a lot of education, discipline, commitment and patience, as any other market

السبت، 3 مايو 2008

Forex Trading - the Proof That you Can Enjoy Trading Success

You have the desire to succeed. If you have the desire to succeed and are serious about winning at forex trading you can. It's a fact that anyone can learn currency trading if they want to and to inspire you, I am going to give you an example.It has long been argued whether traders were made or born to be - so is it an innate gift or is a skill anyone can learn?Well consider this: A baby does come out the womb saying buy "euro sell yen" he has a long way to go in life, he has to learn to walk talk and many choices to make and has it all to learn. The world is truly his oyster. Some argue that intelligence is genetic - but you don't need more than a basic education to trade and one person set out to prove this, in his famous turtle experiment. The trader was a legend by the name of Richard Dennis. He gathered a group of people with no knowledge of trading of all ages, different sexes and varying levels of educational ability together and taught them to trade in just 14 days - the result? They made him in excess of $100 million dollars in just 4 years and went into trading history. So Dennis proved that anyone could learn to trade, with the right forex education and a simple robust forex trading system but there is a paradox: If anyone can learn to trade, why do 95% of speculators burn their money and lose? The answer is they simply get the wrong education. The core of the turtle experiment was to teach an inner understanding of strengths and weaknesses of the pupils - it's not the market who beats the trader - the trader beats himself. Dennis based his teaching on 3 core points 1. A simple trading system that the traders could understand and have confidence in. He taught them the trading basics they then had to make them work, his tuition stopped after 14 days.2. He taught them that if they wanted to win long term, they would have to keep executing their trading signals through long periods of losses and this is why understanding of the system and themselves was so important to achieve long term currency trading success.3. Finally, he taught them to play great defense and take lots of small losses and run their few profits. They had far more losers than winners but still came out on top.Most traders don't ever get an understanding of what they do and they never acquire confidence and discipline, because they blindly follow someone else. Most traders also let their losses get out of control. You can perhaps see from the above that the trader who under estimates the mental side of trading (the turtle method was very simple) are destined to lose. The conclusion is: If you have desire, chances are you will learn and digest the above realize success is within your grasp. If you learn the right knowledge and unlock the key to mental discipline at the same time, you have the combination of method and mindset to pursue your goal. Can you become a successful forex trader? The answer is yes. You may not become as rich as the turtles did - but there is nothing stopping you from making serious money in the world's most exciting business of global forex trading

Forex Trading - the 3 Keys to a Winning Trader's Mindset

Forex trading is simple to learn, and anyone can acquire the skills - so, why is it that 95% of traders lose money? Many traders lose money because they have poor methods, though some have sound methods but still lose - because they lack the right mindset to succeed.Here we’ll look at the three keys for getting the mindset of the millionaire traders.1. Desire and PassionIf you want success in anything - including forex trading, then you must desire success. If you have the desire, then you’ll do what’s required to succeed. If you look at any of the legendary traders, they all had desire - and they loved what they did with a passion.You must also have desire and passion for what you do. However, that’s not enough - you must also avoid worrying about risk and setbacks. Currency trading success doesn’t come easily – so, if you can’t build up the strong desire and passion required for successful trading, then you should find something else to do - as you’ll lose your money trading in the currency markets.If however, you accept that it’s not any easy road - and you’re prepared to put in the effort, then forex trading can earn you an income that most people can only dream of.2. ConfidenceYou hear traders talk a lot about discipline when forex trading - but you don’t hear them talk much about confidence. However, confidence is a vital component of your forex trading strategy - confidence in yourself – not in some mentor, or guru you’re following.If you want to succeed in currency trading, then you have to have rock solid confidence that your currency trading system – this will lead you to currency trading success. You must retain your confidence, even when you’re losing money - and there’ll be periods when you lose money, for weeks, or months on end.If you don’t have unshakeable confidence that you’ll ultimately succeed, then currency trading will break you – and you’ll throw in the towel before you become a winner.To have confidence, you need to understand exactly how, and why your forex trading strategy works. This will give you a trading edge - and ultimately, success. If you don’t know what your trading edge is, then you’ll be joining the majority of traders - the ones who lose money!3. DisciplineYou’ve probably heard that discipline is vital to trading success - and if you think that following a system with discipline is easy – then, think again.Lets look at an example of just how hard currency trading with discipline really is: In the eighties, legendary trader Richard Dennis taught a group of traders with no previous experience, how to trade - and he gave them a method they could all use. In 14 days, these traders were given trading accounts - and collectively, they quickly made over $100 million.They were all successful traders - yet there was a huge variation between the results of the individual traders. In Curtis M. Faith’s great book “The Way of the Turtle”, he discusses this in depth – and the lesson is: Learning a successful trading system is not enough! You need the correct mindset to execute the system correctly – and nothing can prepare you for this. You simply have to experience it yourself - and it’s tough trying to stick with a currency trading system, when the pressure is on - and you’re losing money. Money is on the line and emotions are involved.Many forex traders try to prepare for trading, with demo accounts - and making big percentage wins. However, there’s no pressure - it’s practice, and it’s easy – try doing it for real, with real money – that’s when if becomes difficult!Now you have them - the three keys to adopting the right mindset, in order to achieve currency-trading success. It’s not easy to achieve the winning traders mindset - but when the rewards are as great as they are in FX trading, you wouldn’t expect them to be.If you can adopt the right mindset, the world of currency trading will give you immense rewards for your effort. Good Luck!Grab 5 FREE Trader PDF's and get the support you need to trade like a pro with our user-friendly multi-lingual learn forex trading. Get up to date financial news, real-time market prices, tight pip spreads, built-in risk management system, and 24-hour professional support

Forex Trading - Becoming a Pro Trader and Live the Dream

Many new forex traders see the huge profit potential that forex trading offers and dream of becoming financially independent and building long term wealth - no more boss, lots of free time and wealth. Anyone can do it but they have to be aware of a few points and there listed below. The first point to stress is that anyone can learn to trade and be successful but it's a fact that 95% of traders lose. This may sound paradoxical and it is but becomes clearer with some explanation. Forex traders who lose have the following traits:1. They shoot from the hip without learning the basics2. They get the wrong forex education3. They have the wrong mindset to succeed. Point 1 is pretty obvious and a huge number of traders think it's easy and lose their equity. Point 2 obviously means you have to get education but you need the right education and point 3 means you have to get the right mindset to apply your education. Forex trading is not just getting the right information but knowing how to apply it correctly. Let's examine this combination more closely. When you trade forex you don't just take on the market you take on yourself and your emotions. You need a sound logical method but you need to have rock solid confidence in it to apply it through periods of losses and aim for long term currency trading success. If you can't apply a method with discipline then you really have no method at all and your forex trading system will cease to exist. Successful forex trading is based upon: Simple logical method + Understanding = Confidence = Discipline = SuccessIn forex trading simple methods work best and the most time efficient way to learn is to use forex charts and technical analysis. You need to acquire confidence in your system and then you will have discipline. Now let me tell you a story...In 1983 legendary trader Richard Dennis taught a group of 14 people who had never traded before to trade and in 14 days he had them ready to trade real money. These people were of all ages, both sexes and had various levels of education. The result? They made $100 million in 4 years and went on to become some of the most successful traders of all time. Dennis taught them the method but he taught them to apply it in their own way with discipline - he knew the method was not easy to apply and several of this group have commented on this in interviews. The method was easy to learn but the discipline required relied on the confidence they had acquired. I am not saying you will become as successful as this group, life simply isn't like that but it does show you it's possible for anyone to become a successful trader and is an inspirational story for any new trader when devising a forex strategy for profit. So why is discipline so hard to achieve? Most people are followers not leaders and cannot accept responsibility for their actions. Furthermore, their used to operating in a structured environment and following rules whereas in the currency markets your in an unstructured market where you have to live by your own rules. A method however can be learned confidence obtained and discipline can be a trait any trader can make - but it requires you do your homework and learn to apply what you have learned. Anyone has the potential to live the dream and build wealth and forex markets represent the final frontier of the free market economy, its not easy ( and you wouldn't expect it to be with the rewards on offer ) but for the amount of time you have to put in to learning currency trading the right way the rewards are immense and you can do it if, you have a burning desire to succeed. The real question is: Do you like a challenge and are you prepared to do what's necessary to succeed? If you are - welcome to the world of online forex trading and the opportunity for currency trading success and the possibility to live the dream, of becoming a professional forex trader from home

Forex Trading Strategies for Profit for Profit

There are many different forex trading strategies as there are many different ways of achieving forex trading success but if you are devising one for yourself there are some key elements the best forex trading strategies incorporate and that the subject of this article. 1. They are Simple There is a big myth that science can help you trade and the buzz words are neural networks and artificial intelligence systems and other complicated trading systems. The problem is complex forex trading systems with to many inputs mean there are more elements to break and these systems fail in real time. The base of your forex trading strategy should be a simple trading system that will be robust in the face of ever changing brutal market conditions. 2. Objectivity The best forex trading strategies tend to be based around objective criteria and rules that are clear and do not have too much subjectivity. For example, a moving average cross over is an objective forex trading signal - Elliot wave and cycles are not and involve subjectivity. By keeping your strategy objective rather than subjective, you will keep your emotions out and stay disciplined. 3. Trade Valid Data If your forex trading strategy involves technical analysis and forex charting then you need to use valid data. Forex day trading systems don't work, as volatility in short time frames is random and prices can and do go anywhere. You need to get the odds on your side and that means trading longer term - swing trading or long term trend following.4. Breakouts Most of the top trading systems use breakout methodology, as it's a fact most major moves start from new market highs not market lows. Traders who want to get in at a lower price miss these moves - breakout traders know that the odds favour a continuation of the move when a significant level of support and resistance has been penetrated. 5. Money Management The best forex strategies know there is risk involved in any trade and manage not just the risk per trade but have their eye on the overall risk to the account and the risk of ruin. You need to take care of the losses first and if you have a sound robust currency trading system the profits will look after themselves. 6. Acting on Confirmation Many forex trading strategies liked to try and base themselves on so called scientific theories of market movement but the fact is trading is a game of odds NOT certainties and this is obvious. If markets did move to a scientific theory we would all know the price in advance and there would be no market. While this is obvious many traders like to trade far out theories like: Gann Fibonacci and Elliot wave. None of them are scientific by nature and all involve subjectivity from the user - this is a contradiction in terms of a scientific theory. Predicting means you are hoping or guessing and that won't get you far in life and certainly not FX trading. 7. Realism The best forex trading strategies have realistic aims in terms of profits and while many can make triple digit profits in short periods of time over the longer term the best do 30 - 50% compounded and if you had one that did similar you would quickly compound a lot of money and be very wealthy. If you understand the above you will see that forex trading strategies that are successful tend to be simple, robust, objective and have strong money management linked to realistic goals. If you do the same in your forex trading strategy you can make a lot of money in global forex markets
 

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