Finding the Best Trading Platform

Foreign Exchange business or known as Forex trade is one of the large market in the world. Forex trading platform is software used by the people who are into the business. It basically served as the interface between the trader and the broker. There are different business platforms available in the market today. For some, choosing the best platform is difficult. Choosing the right platform depends on what business strategy you are using. The platforms will allow you to do business easily and effectively.

There are many things you need to consider in choosing the right business platform. You have to identify its benefits because different software can give you different features and advantages. One of the things you need to consider is the ability of the software to provide real time data such as your account balance and other movements in the market. This will also allow you to check the business charts. Choose also the platform that can give you convenience every time you enter and leave the deal. Another feature you need to consider is the trailing stops wherein you can lock your profit as soon as the profit is desirable. Lastly, you need to check if the software has an automatic dealing feature. This automated deal allows you to trade even in your absence. Most of the platforms have the ability to place deals automatically base your forex business preferences. However, in case your existing platform doesn't have this feature, you can set-up forex robot software. It functions the same with the automated deals and you can definitely use it along with your existing software.

Traders used platform because it can also help in increase the profit because they can perform faster and perform business with no error. Before you buy your own business software, it is better to consult other traders, make some research and establish comparison of the other platforms available in the market. In order to check how a system works, it is better if you use a forex demo account first. This will allow you to see the different features and determine if it is the right software you needed. There are different types of business software available for stock buy and sell, commodities and mutual fund business. There is a wide range of business platform - from easy to operate software for novice traders to advanced tools for sophisticated traders. Choose the right platform that suits to your needs.

Please visit our official website here to know more about the Forex trading platform. Providing quality reviews, articles and writings on forex online.

Importance Of Forex Forecasting And Forecasting Long Term Prices

Forex trading is one of the most difficult things to do. Trading itself is not hard, but the real issue is the risk that is involved in trading. The risk involved in trading primarily originates from the unpredictable price movements. Forex market keeps on moving and it never stops for a single moment. Prices change and market moves from one point to another. Price movements can either be instant or there can be a gradual shift from one point to another. And these price forecasting never come without risk.

The way to trade successfully is to predict and forecast price movements in advance and then prepare yourself for those movements in advance. Price forecasting is very important for several reasons. How could you invest in a currency about which you have no idea how it will act in next couple of hours? It is never advisable to trade in a currency pair without future prediction of prices.

Those who join forex market and do not use any forex tool, chart or analysis and keep on trading, it is possible that they win a few trades and make some money without forecasting future price, but in the long-run, they cannot survive. It is not necessary that price will move in the same direction what you are thinking. Hence, forecasting future prices is very important from this point of view. It is advised to use all possible price forecasting tools before investing in a currency. And you will only do that if you realize and know the actual importance of predicting price movements.

Importance Of Prediction In Forex Trading

- It is not possible to trade without knowledge of the market and currency. As mentioned, there are chances that you might win the trade, but it will not happen all the times.

- Trades based on forecasts are safe and secure. If you know that the price of a particular pair will move down, you can plan to tackle with such a change in advance.

- Risk is significantly reduced if you properly plan, forecast and predict future price movements. Price forecasting helps you in judging future price movements, so you can plan accordingly.

- If you do not predict prices in advance, and do trading without ample knowledge, you can never become a good trader. You will never learn anything from trading no matter how many years you spent in the market.

- If you have the knowledge about market, everything will become easy for you. You will love trading when everything will move as expected. Otherwise, trading will give you a hard time.

- Proper forecasting can help you in saving a lot of your capital. This is because when you will predict prices and plan in advance, you will win most of your trades. This way, you can save a lot of your hard earned money.

Predicting and forecasting is not hard. There are hundreds of tools that you can use to predict price movements. These include forex indicators, technical charts, fundamental analysis, technical analysis, signals, market trends and much more. You can find all these tools and charts with your broker, and it is strongly recommended to use all of tools to make trading easy for you.

Contact us if you are searching for good forex brokers to guide you in forex trading. Providing quality reviews, articles and writings on forex online.

Forex Online Trading? How to Improve Your Forex Trading With Visualization Techniques

The Forex market is a market the traders cannot control. It is a market where the price is determined by demand and supply. The traders have to accept the market conditions and plan their trading strategies in connection to the market. In a market likes the Forex market the traders have to be in control over themselves.

Traders in control over themselves are traders who have set a plan for their trading. They have goals and want to achieve them. The goals are realistic, attainable and measurable and they trade in their "own best interest". In their mind they have been through all kinds of trading situations. An example could be how to stop a trade that is not a winning trade and how to accept that they have made a wrong decision.

Traders in control over themselves are human beings with discipline and a self-image that convince them that they are good traders. A self-image is a picture all human beings have of themselves in their mind. It is a picture that is built on experiences and beliefs in life. The image controls our behavior in all life situations.

A self-image is "how I am" and as it controls how we act in our lives it is import to affect our self-image to be successful in our lives and in Forex trading. A part of trading Forex is that some trades go wrong. Some traders just accept that they have made a wrong decision. Others will continue to think of themselves as a bad decision maker and start to fear that they will make bad decisions on future trades.

The different behavior in the mentioned situation illustrates the importance having a "leave past behind" attitude in Forex trading. The first group just continues trading and looks for new opportunities in the market. The second one starts to fear they are badly Forex traders. The two groups' picture of their behavior as a trader is clearly different and clearly that the first groups' attitude gives them better chances to be successful as they use their energy on the next trade and not that they made a bad decision.

The second groups' attitude can easily be changed. They have to use a visualization technique and visualize the situation where they made a wrong decision. The situation can be a real trade or a trade that is made up. It is important that the picture of the situation is as detailed as possible. The more detailed the picture is the easier it is to achieve the goal. In this example is the goal how to get a "leave past behind" attitude.

Using a visualization technique and go through the picture over and over and over again prevent you from making the same mistake again. The mentioned example of a visualization technique is just one example. The technique changes all kinds of bad habits and thought processes. Scientific experiments have shown that a bad habits and thought processes can be changed if the technique is used in 21 days in a row.

An alternative method to improve your trading skills is to visit my Forex website and copying successful Forex trader trades.

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Forex Market and Technical Analysis

Technical analysis, as the name suggest, is the use of technical data to interpret a present or past market scenario. It is one of the two main forms of market analysis; the other one is the fundamental analysis which uses fundamental data like company history and management or growth or GDP. Sometimes referred as statistical analysis, technical analysis includes tools known as technical indicators or technicals to validating existing market conditions and/or to predict future market conditions.

From the beginning of trading and innovation of patterns and indicators there is a very active dispute on the effectiveness of technical analysis for traders. Traders and experts concentrating on fundamental analysis question technical data and those on the opposite side support the same. But most traders agree on some advantages of technical analysis like.

They make analysis of market movements interesting. Knowledge of past market scenario and price changes help traders to profit. Knowledge of patterns and trading signals help traders to better position their trades. They tend to work better if you are day-trading or short-term trading. They help traders to minimize risk, especially when there is much negative sentiments.

Today, forex traders and brokers are the most prominent promoters of these technical analysis systems. And in a general observation one can say that these systems works better with forex market especially over equity, futures and commodity markets. There are different reasons for this including,

The continuity of global forex market: The currency market is a continues market open 24 hours on weekdays. This reduces the over-night position holding risk and trading gaps. Inter-dependence of currencies: The globalization has tremendously increased international trades and currency exchanges. One can always find some patterns in currency price changes even when the nations are far apart from each other. Predictability of some currencies at certain levels: the central banks of different nations tend to actively engage the market to keep the currency exchange rates at an optimum level. So one may predict the reversal to some optimum range, when it is broken. The high popularity of trading systems and trading: forex is now world's leading financial market and modifications/innovations of trading systems and indicators is a common phenomenon here. So the systems are tested, corrected and modified to better results.

Now traders can find a vast number of different forex trading technical indicators to facilitate and automate the trading procedure. Most of these systems are web-based, meaning they are accessible from any desktop, laptop or handheld computer having internet access. Today's systems come with sophisticated and advanced technical indicators to identify/predict/analyze/validate trading signals, formations, patterns and market conditions.

In all forms of trading, it is always a good practice to use more than one technical indicator to get better and accurate results. And it is also good to use technical analysis together with fundamental analysis.

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Forex Online Trading? How To Be A Successful Forex Trader

The Forex market is the market where currencies are traded. The traders' sign up for an account and place their capital on the account. Some of them have success and some of them realize how difficult Forex trading can be. The focus in this article is to describe how to be a successful Forex trader and describe some of the common mistakes in Forex trading.

The most traded currency pair is the EURUSD, USDJYP and GPBUSD. It does that a lot just trade one of these currency pairs. But what if the market is moving sideways and there is no trend in the market. Would it be better to find a market where there is a trend? Of course it would. But a lot just stick to the same currency pairs and miss the opportunity to gain a profit from a trend-following market.

Success in the FX market depends on a good strategy. A strategy is a set of rules the trader stick to. A good day could be defined as a day where the strategy is achieved and followed as planned. A common mistake and reason falling in the FX market is that the strategy is not followed or there is no strategy.

How to be a successful Forex trader? One of the characteristic being successful in general is that they know their personality. They know their strengths and weaknesses and can explain them in detail. Successful traders in the FX market know their personality and therefore they only trade with strategies that fit their personality. They have patience and wait for the right trade as quality is better than quantity. In other words wait for the right entry and if the entry is missed wait for the next one.

Few indicators or techniques are used and the trading is kept as simple as possible. The indicators are used over and over and over again if the indicators or techniques are successful. They trust the indicators but are also aware of that other factors may have influences on the currency curve's direction. If the market conditions are changing and it is necessary to adjust the strategy the adjustment will be made.

They have realized having a break and clear their head is a key to their success. A stop-loss level is also a key in gaining profits as they do not hold a position in hopes that the currency curve will start to rise.

If you don't think you are a successful trader visit my Forex website and watch the video about how to follow and copying successful trader trades.

Watch the video and click on the JOIN NOW button. At the next site is another video explaining the idea of copying successful trader trades. The video is at the top to the left. Providing quality reviews, articles and writings on forex online.

Sleeping With the Enemy

Many beginning Forex traders believe that they will be successful because they have read all the books. Not necessarily. Then there are those that foresee their success simply because they have had much practice. Again, not necessarily. The main enemy of the Forex Market for most newbies is not the lack of knowledge; neither is it the lack of practice, there is an even greater enemy of even the most experienced trader. Trust me; I know this for a fact.

Friends of mine, the greatest enemy you will have in Forex trading will be when you are battling against yourself; yes, that's right, yourself. I have discovered that the greatest enemy in Forex is against the inner emotions that every trader experiences from day to day. The worst enemy you are going to face in the very beginning is not going to be found hiding behind the walls of some global currency trading center, neither will it be lurking in some far country - the worst enemy is inside of you!

All experienced Forex traders will tell you that the most dangerous foe is hiding deep inside of you. That enemy is so powerful that you will be amazed how quickly it will wash away all of your carefully considered decision. Those emotional enemies that you need to fight off are Fear, Greed and Hope; these are the names of three beasts that will haunt and rob you of all economic gains in Forex.

The number 1 beast is Fear. He will tell you to sell near the bottom and buy near the top. He is the one that causes trades that don't make any sense whatsoever. His big sister is Greed. She isn't a bad lady, but she is a very domineering woman. She forces you to get out of the market prematurely. Sometimes she even causes you to forget your training altogether. Then there is their cousin, Hope. Hope is really a sweetheart, most times, but she will keep you involved in the trade until you lose everything. Fear, at times, may save you, but Hope may wreck you completely. Greed will NEVER make you rich!

So now that you know, I would like to encourage you to tame your inner emotions before seriously entering the Forex world. My advice is to get a GREAT education and an even better coach. Learn from some experienced trader(s) and be sure to follow their instructions. And above all, stay committed.

Happy trading.

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As always, happy trading. Mr. Brewer, Founder - NBC Exchange. Providing quality reviews, articles and writings on forex online.

Day Trading Forex Tips

A written trading plan or agenda to begin forex trading is the best thing you can do.

When you spot a possible trade set-up, calculate the risk/reward, look at your support and resistances levels, check your indicators, study the chart, decide if you would enter into a long or short-term trade. If all signals align and you feel comfortable placing the trade - then write down the entry price and stop-loss and place your order.

Some may think why should I write down my entries and stops? Well, studies have shown that people who write down their goals accomplish more in life than those who mentally set their goals. The same happens in trading. From personal experience - when a trade was not going well, I would mentally move the stop loss. Whereas when I wrote my stop loss on paper and on my order, it was executed. This helps build and maintain trading discipline. FYI - I use a yellow legal pad to write my trading entries. Studies have shown that the color yellow promotes better thinking. Just a thought.

Watch your trade closely, if need be tighten the stop or take profits. If the market is going your way and your trade makes new highs, keep your position. You may choose to add to your winning trade.

Day trading is great! You can trade forex from anywhere. To trade forex live, you need to maintain a positive mind and attitude. Let's go over some things you may have not considered which can help you stick to your trading plan.

Concentration - make sure your trading space or office is private and quiet.Office - preferably with a window to allow for natural light which is easier on the eyes.Desk - should be neat clear of clutter. You just need your trading pad.Do not answer the phone - that goes for email, cell phone, chat, etc.Do not leave trades without your stops.

The key to accumulating profits is to protect your trading capital at all times. Make sure your stops are always in. When trading do not over leverage, use small positions. Never trade with money you cannot afford to lose. At the end of your trading day, go over your charts and plan for the next day.

Some other things to consider is joining a forex trading room, chatting with other traders, and/or follow an experienced forex coach who can provide you with some strategies.

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Experts Suggest That Regulating Binary Options Trading Has Become Inevitable!

Trading today, is not restricted to the old methodologies, which only provided the opportunity to import and export commodities. As the new trends in trading are generating quickly, binary options is yet another wonderful trading method that has gained rapid popularity among the traders' circuit. You just got to prove your intelligence by predicting the price of various assets or commodities, and earn huge payouts upon correct prediction. As more and more traders are entering into the field of binary trade, many countries have felt that it is high time for the proposal of binary option regulations.

Why Are Binary Options Regulations Inevitable?

The popularity achieved by binary business has amazed the trading experts. This has evoked concerns regarding the frauds that might occur in an industry, and would result in complete collapse of it. Most binary scams occur due to fake binary options brokers. Experts suggest that the binary options regulations would provide security to the traders, and go a long way in earning profit to the industry. A number of other experts believe that the binary regulations would also boost the sales for the binary options brokers all in all.

The Need To Regulate The Financial Market

Binary trade also takes place rigorously in the financial markets such as the stock. The traders, who trade binary options in stock exchange, do not require help of professional binary brokers, and what they desire are proper binary regulations that guarantee the transparency of the market. In the United States of America, the Securities and Exchange Commission strictly monitors that the binary brokers, as well as all exchanges, strictly adhere to the security laws. It is believed that very soon the regulatory bodies would provide the institutions with an authoritative stamp needed to secure customers and their valued investments.

Significance Of Strictly Monitoring The Online Sites By Providing Them License

It is a matter of extreme importance to license the binary trading platforms. A number of countries are endeavoring to educate the traders to trade only on the licensed site that abides by the binary regulations. This will certainly reduce the risk of potential frauds and also benefit the government of any country. With the reduced risks of potential frauds, the taxes that are gained via binary trading can also be funneled to the country's bank of financial resources. As the binary trading regulations have already been implemented in many nations, other countries are still designing them to control the frauds.

IntelliTraders is a free Binary options trading community to help traders to learn and start trading with best brokers. Providing quality reviews, articles and writings on forex online.

Scalping Forex

Scalping Forex is a popular quick trading method involving swift opening and closing of trade positions. In this method the traders keep their positions open only for a few seconds or at the most 2-3 minutes. A majority of scalpers hold their positions for as short as one minute. The basic idea behind scalping is to make small chunks of profit consistently and thereby increase the overall profit. The swift opening and closing of the trade exposes the trading account to lower levels of risk. Scalping is done with huge amount of funds. So, even a mild pip movement creates significant profits.

Following are the tips, tricks & necessities for effective Scalping:

1. A professional scalper needs to have a broker, who provides the best automated processing platform and allows scalping.

2. The scalper needs to be very attentive, patient and meticulous person. He should clearly absorb the value of reaping small profits to transform into larger proportions. Patience is the key aspect in scalping. This type of trading would not gel with rash and highly excited individuals.

3. A conventional scalper has to open and close hundreds of positions during a day. He has to keep a very strict stop-loss to ensure that the losses are capped. The scalper has to give equal importance to all his positions and can't afford to be slack at any moment.

4. Forex Scalpers are only concerned about the shorts bursts of unpredictability. They need to understand the market behavior at a micro level so that they can take advantage of even the slightest fluctuations to realize their profits.

5. Successful Forex scalpers need solid focus and tremendous devotion. They need to possess strong dedication and ability to stand by their plans religiously.

6. Forex Scalpers need to realize that not all currencies are best suited for Scalping. They need to choose the ones where scalping is painless and rewarding.

7. Scalping Forex is not encouraging at all the times. Scalpers need to find out the correct times that would allow them to take fruitful positions and convert them into sizable profits.

Forex scalpers devise various strategies that help them in Scalping. Every scalper has his own strategy and technique to generate profits. There are different price models and price formation patterns that make scalping more lucrative.

a. Breakout Scalping - Some scalpers verify various breakouts to carry their trade. Breakouts can happen due to some macro-economic, policy or domestic business news that provides a new direction to the market. Technical breakouts happen when the currency price closes above the specific resistance price.

b. Range Scalping - Some Scalpers believe that a specific market range is best fit for scalping. These scalpers choose to operate within that range.

c. Trend Scalping - Some scalpers analyze the overall trend and then participate in scalping Forex. Trends are generally unstable and many scalpers like to follow the trend with strict stop-loss to minimize the risk of heavy loss.

Scalping Forex is not suitable for everyone. Only those who understand the market movements quickly and perform rapid trading by following the rigorous principles of discipline, focus and patience succeed in their endeavor.

Nicu Lucanu is a finance analyst in scalping Forex as well as he made a lot of investigation about this topic. Discover more in his review site regarding Khaleej Times Forex. Providing quality reviews, articles and writings on forex online.

What Does Online Forex Trading Mean?

When you are curious about what is online Forex trading, you have to know that it is just the same as traditional trading of Forex but it is done online. Forex trading, in general, is an act of trading currencies of many different countries. When we say Forex, it is only an acronym for Foreign Exchange. This type of trading is usually done through a market maker or a broker. If you are a Forex trader, you will have the chance to choose the currency pair which you expect to gain value change and you can accordingly place your trade. In Europe, the circulation of currency is called the EUR or Euro while in the United States their circulation of currency is the USD or US Dollar. How does it work?

Example, if you purchased one thousand Euros in January last year, it should have cost you about one thousand two hundred US dollars. Throughout last year, the value of Euro versus US dollars has increased. Therefore, at the end of last year your one thousand Euros was worth about one thousand three hundred US dollars already. If ever you have chosen to end the trade you made on that point, you should have an increase of about one hundred dollars.

Forex trades can also be placed by a market maker or a broker. With only a few clicks, the orders can be put and the broker will then pass the order together with a partner on the interbank market so your position will be filled. When you are going to close the trade you made, the broker will also close the interbank market position and will credit your account with the gain or loss. It can all literally happen in only less than a minute or a few seconds.

Making your trade in Forex is just a simple process; you should also take note that it is something that must be done cautiously. Foreign exchange trading is about managing emotions and risk. If you are entering into Forex business of trading and you are feeling nervous, emotional, or anxious, you need to have a look on what you are doing. Many of the traders that have known issues with their nerves did all either waste their money, trading with much amount of leverage, or even both. You must take a look at some basics of risk management of trading in foreign exchange and start making things like reducing the leverage you make and setting a reasonable stop in the process.

If you are a beginner and want to know more about what is online forex trading, you can visit our website here. Providing quality reviews, articles and writings on forex online.

Two Account Killing Errors

It's easy to learn to become a successful Forex trader, but you need to know what Forex trading is and how to trade to be successful in the Forex market. Many beginning traders think they can teach themselves to trade successfully and become wealthy in a short period of time. While, it is true that with enough time and effort you can teach yourself to trade, it is much cheaper, quicker and more effective to learn from a trusted professional trader and it will take quite a bit of time effort just to become familiar with proper, wise trading tactics. As you learn Forex trading, you have to be very conscious and cautious of two common, important trading errors, they often sneak up on you without you really being aware you are making them. Error number one is over-trading and error number two is over-leveraging one's trading account. These two miscalculations are probably the two biggest and most regularly committed trading mistakes. When you start your Forex trading it is essential that you figure out your trading plan and style; before depositing any of your hard earned cash into any account. When trading the Forex market it is important that you do not over-complicate your trading strategy.

Many online Forex brokers will let you open a demo account for you to practice and become familiar with Forex. There are many Forex courses available and these are also a top-notch way to learn Forex trading as you can refer to these courses and you have the opportunity to gain more confidence in your trading and nail down your style of trading. There also several mentor and protégé designed programs out there but they can be rather expensive. As you learn Forex trading, you need to make sure that you don't fall prey to one of the many internet scammers out there who are trying to sell some trading software system or lagging indicator system. The best way to learn Forex trading without becoming emotional is to become calm and calculating in every interaction you have with the market. Many traders learn by watching and following other successful traders. Yet, most traders simply do not have a trading plan and they don't have trading journal, they trade in a very haphazard and unorganized way, thus opening their minds up to become emotional. It is best to be patient, study your market and learn everything you can, from everyone you can about trading successfully in the Foreign Exchange Market and you can "trade happy."

A great thank you from John Veith, the author of this article. For more articles and great resources please visit eforexforbeginners.com. I am putting together a free guide to Forex trading which will be available in 1-2 weeks so check my site often. Trade Happy! John Veith Providing quality reviews, articles and writings on forex online.

Slow and Steady

I have had many traders ask me, either during our training sessions or afterwards, if I have other systems that will get them 50, 100, or even more pips at a time? Let me ask you which you would prefer; chasing the big 100 pip trades or realizing continual 20 pips at a time? Well, anyone who has EVER done one of our training sessions knows my answer - "bird in hand is way better than 2 in a bush," especially when it comes to Forex.

When I first started trading Forex, my mindset was "get as much as you can, as often as you can." That is OBVIOUSLY the newbie's mentality. As you grow and mature in Forex, you will discover that the key to winning this game is not who has more money. The true Forex business owners don't chase after the big numbers at all. As a matter of fact, anyone who suggests that you should is probably not that successful. Forex is too large to try to be the "guru of many pips." My advice is to take some educational courses or training sessions from companies that stress "slow and steady" as their training model.

Over the last few years of trading, I have discovered that it is useless trying to trade every trade as if you were going to get guaranteed 100 or 200 pips. Even if you aren't trying to get 100 pips per trade, continually aiming for certain high numbers of pips isn't always what it is cracked up to be. Think about it; what did it benefit you to trade 100 pips in one day then loss another -100 pips or even loss -200 pips on the very next day! As you can see, making the money is one thing - keeping your money is quite another. The key in Forex has always been the same thing - money management! Do it right, you'll live to trade another day.

Those who we have trained over the years, with proper money management, have learned to turn the 20 or 30 pips per day that we suggest into thousands of dollars - daily. Slow and steady, my friend, remember that! Once you learn how to use your own money management techniques that fit with your trading style, you will become a believer that it was worth it to chase after the little money, slow and steady, than chasing the mega big pips!

Happy trading...

NBCX is now offering FREE eSignals. That's right, we will give you an opportunity to receive veteran trader's FREE eSignals. Visit us at NBCExchange.com for more details.

We want to show you how to get more out of your investments. NBCX is giving away a FREE book to help you learn the Market and how to become more financially independent. For more information or if you would like to join our FREE Learning Center and begin taking classes for FREE, be sure to visit NBCX online TODAY!

As always, happy trading. Mr. Brewer, Founder, NBC Exchange. Providing quality reviews, articles and writings on forex online.

Basic Tips for a Forex Trading Novice

The Forex market is a very serious market to enter. For a novice, it is very necessary to gain some Forex trading for beginner tips and advice. It is very important that you are equipped, if not with experience, with enough knowledge on how things work in the market.

As a beginner, there are many things you need to consider and you must do in order to gain money in the market. First, you have to practice before participating in the actual trading. There are trading demo accounts available online for you to try. These various accounts are available for free. Thus, you spend nothing for this trial account. Demo accounts allow beginners to practice trading process virtually using fake money. In addition, you can use and test different strategies on this account. You are given the opportunity to know the different platforms and strategies in trading. The demo account is available for free. Thus, take time to use it and do not worry too much on the outcome of your practice trade. This will allow you to sharpen your knowledge as well as your skills in trading.

Another thing beginners should do is to understand how things work in the market. You must be able to understand the trade charts and the financial data. The decisions you have to make during the trading process solely depend on the charts and data. Thus, you must be able to determine which data are favorable and which are not. Do not depend on the software you have. Though the software has the capacity to calculate the data for you, it is also wise to know how and what strategies to use. With this, you will know when is the right time to buy and sell.

Further, as beginner, you must also know how to control your emotions. Your emotion has an important impact on every decision you are going to make. Do not allow your losses to dictate your decision. You must rely on facts and available trading data and not purely on emotions. If you want to achieve your goals then, all your actions should be logical. Learn to deal the psychological impact from the market.

As the popular motto goes "practice makes perfect," you have to keep practicing to be able to succeed in your chosen field. Take time to learn things. You can do it slowly but surely. Most importantly, never allow your emotion to control and affect your decisions.

Read another helpful article here: forex for beginners. Providing quality reviews, articles and writings on forex online.

What Is Forex? An Introduction for Every Forex Beginner

So What is 'Forex'?

The word 'Forex' is simply a shortening of 'Foreign Exchange'. Forex trading is when traders buy and sell different currencies from one currency to another.

So, for example, if you were to buy the European currency (the Euro, EUR) with US Dollars (symbol USD), then you would be 'buying the Euro' and at the same time 'selling the US Dollar'. You would effectively be betting that the value of the Euro compared to the Dollar would increase to have any chance of receiving a profit. Another way of thinking about this trade is that you are going 'Long' on the EUR/USD.

Many people find this concept a little tricky to understand. Why would this particular trade be selling the Dollar? Well, if the Dollar were to drop in value compared to the Euro (remember that you have bought your Euros with US Dollars), then you would be able to buy back more Dollars than you started with, using the Euros which have become more valuable in relative terms. In other words, you would have profited from the decline of the Dollar.

Base and Quote Currencies

The first currency quoted in a currency pair is called the base currency and the second currency is called the quote currency. In the above example, the base currency is the Euro and the quote currency is the US Dollar.

So you may see a quote like this:

EUR/USD = 1.2288

This means that 1 Euro (the base currency) is presently worth 1.2288 US Dollars (the quote currency).

Forex traders usually place a trade through a broker who have direct access to the fx market via an associated partner in the Interbank Market. When you close out your trade, your broker will close the position with this partner and calculate the loss or gain on the trade, which is then applied to your brokerage account. These days, high speed communications and technologies which link all players in the FX market mean that trades can be opened and closed in a matter of seconds.

Forex Trade Example

Here's an example of a currency trade. Suppose you thought that the Euro was going to weaken compared to the US dollar in the coming weeks (note that forex traders can trade on timescales ranging from minutes to years). This time, going short on the EUR/USD assuming this belief turns out to be correct would be a smart move.

There are no 'shorting' restrictions in the forex market (unlike the stock market) so this trade would be very straight forward to place through your broker as long as you had the required deposit.

So the quote today might be:

EUR/USD = 1.2288

You think the Euro will decline in value against the USD, so you place a short order on this currency pair and purchase 1000 Euros. This costs you $1228.80 US Dollars.

The next week, the quote is now:

EUR/USD = 1.2008

1 Euro is now only worth $1.2008 US Dollars. Having shorted this currency pair (which is the same as going long on the USD/EUR opposite currency pair), you will have made a profit of $0.0280 x 1000 = $28.

Note, it is important to realize that your broker will take a brokerage fee from both placing the trade and closing out the trade, whether or not you make a profit.

Forex currency pairs are usually traded on futures markets such as the Chicago Mercantile Exchange (CME).

Want to learn more about how to start as a forex trader? Don't know where to start?

A strong understanding of the basic principles for success in FX trading is ESSENTIAL, or you risk losing your trading capital FAST (like some people who think they don't need Forex trading training).

Check out this FREE article series all abou the basics of foreign currency trading, developing a best forex system for you, and forex strategies. Invest in your FX learning BEFORE you start earning. Providing quality reviews, articles and writings on forex online.

Forex Online Trading? How To Test a Forex Trading Strategy

There has been a rise in trading Forex online the last couple of years. The traders have access to a lot of trading tools like the Bollinger Bands, the Stochastic Oscillator, Parabolic SAR, Linear regression, Williams %R etc.

But which provides the best results? Which gain most profit? Do the tools gain different profits in different market situations? Etc.

My focus in this article is to describe how to test these tools as a Forex trading strategy and how the test results can be written in a table.

A test is several trades with the same indicator. A test could be 20 trades with two indicators as it is unusually just to use one indicator. A test could also be 20 trades with three indicators.

The advantage testing and note the test results in a table are that it provides an overview of which of the indicators that fit the trader and which one gain the most profit. The goal of the test is to improve skills and profit margin.

An example of a test could be 20 trades with the Bollinger bands as the primary indicator and the Stochastic Oscillator as the secondary indicator. If a third indicator is needed it could be the Alligator as a secondary indicator.

Each time a trade is made the trader makes notes in a table. The table consists of five columns with the following headlines

Date

Currency pair

Strategy

+ Pips

- Pips

Notes

In the example the notes in the table could look like this.

Date

22 of august 2012

Currency pair

EURUSD

Strategy

Primary

The Bollinger bands

Secondary

The Stochastic Oscillator

The Alligator

+ PIPS

20

- PIPS

N/A

Notes

The trade was stopped as the price line is outside the upper standard deviation and the candle stick was red.

The tests tell the trader how he has done in the past and with which trading tools. In the column Notes he could have noted how he felt during the trade. An example could be if he felt stressed or relax. If the 20 trades showed that he was relaxed it could look like he had found a trading tool that fits him.

As mentioned the goal of the test is to improve the skills and profit margin. But it is still important to keep in mind that a past performance of any trading system or methodology is not necessarily indicative of future results.

Visit my Forex website and pick the trading area Forex. Download the simple and user-friendly trading platform for free and start testing the Bollinger Bands and the Stochastic trading strategy. It only takes a few minutes to download. The indicators are at the f (x) button above the currency pair graph.

The trading platform offers a free bonus for registering. Providing quality reviews, articles and writings on forex online.

Forex Trade: The Basics of Currency Trading

Currency trading is a type of investment vehicle that is conducted in the Forex or foreign exchange market. It is also referred to as FX for short and is one of the most exciting and fast-paced investment markets that you can get involved in. Up until the past decade, currency trading was primarily reserved for central banks, corporations, extremely wealthy individuals, hedge funds, and large financial institutions. However, the onset of the Internet has changed the investment landscape in the Forex market over the past 10 to 12 years.

Anyone can now engage in this business, whether he is purchasing or selling, with a simple mouse click at an online brokerage and without ever having to deal with a broker or paying a commission. As long as you have access to a computer connected to the Internet, you have the ability to trade currencies. What you want to remember first and foremost is that fluctuations in currency values are usually pretty small and may move less than a penny in either an up or down direction. This means that the daily change could be less than one percent. The benefit to you is that the currency trading market is far less volatile than others.

The individual who invests in currency trading in the Forex market typically relies on leverage in order to increase the return on their investment. Leverage is defined as the use of a small initial amount of borrowed funds, credit, or investments that are used to gain a high return relative to the investment made. Leverage is also used to control larger investments and reduce your liability or risk of loss. Be careful when using leverage in currency trading as the losses could be as great as the gains.

The availability of high leverage as well as the extreme liquidity involved in currency trading has helped to attract more individuals into the Forex market and enhance how rapidly this market has grown in the last few years. The Forex market has quickly became the ideal location for a larger number of investors. One of the primary benefits of currency trading is how flexible it is. In other words, you can open and close your position in a matter of minutes or, if you prefer, hold it for months. The risks of Forex trading can be minimized significantly with some level of self discipline and good money management skills.

Forex trade has gained a lot of popularity in the last years. Millions of people are exchanging currencies for profit. Before you enter this business, make sure you search for easy Forex tips and educational articles about currency trading. Providing quality reviews, articles and writings on forex online.

How to Make Consistent Profits in the Forex Market

A lot of beginners will look for more short-term profits in the Forex market, but after you build up some Forex trading experience you will realize that short-term profits don't really mean anything; it is the profits in the long run that you should look forward to and aim to gain.

Forex traders shouldn't see the market for currencies as a way to get rich quickly; they should take a professional approach to Forex trading and aim to make consistent profits. The problem is that Forex traders are just like any other people and they can get greedy. This is why the psychology of Forex trading is also important and you should understand the impact that your emotions can truly have on your trading behaviors, if you want to be a consistently profitable Forex trader.

Firstly, you should understand that very modest but consistent profits are a lot better than huge, short-term profits. Yes, big profits are lovely to have, but they don't always last. You should never get greedy; you should aim to build up your Forex trading account up gradually one step at a time. It might take you a year to start profiting consistently, but however long it takes you, you should always try to take your Forex trading career one step at a time; there is no logic in greed as greed will only increase the likelihood of you blowing your whole account away, which can be a huge waste of not only your money but your time as well.

Making consistent profits in Forex trading is easy; find what works and repeat. If you want to make consistent Forex trading profits, you need to work out a system that allows you to make profits overall and then continue with that system, scaling it up gradually and stopping once the system ceases to work effectively. When a system starts to lose its effectiveness, you simply move onto another system that works. It is likely that you will have to change your system too and probably quite often, depending on your Forex trading strategy though of course, due to the fact that the Forex market and its conditions are always changing. The bottom line is though, if you want to make consistent profits in the currency markets, you need to find something that works for you and repeat (whilst maintaining good money management, because without introducing good money management techniques into your trading you will most likely fail in the long run).

In conclusion, there is no single way of making consistent profits in the Forex market; you just have to find what works and repeat, whilst maintaining good money management. Remember that the market for currencies does change frequently, so remember to always have a demo account available by your side so you can do some risk-free experimentation on the side of your live account, so that you can prepare yourself for any changes. Consistent profits aren't actually particularly difficult to make, it is just profits in general that are difficult to acquire. Once you have devised a system that works, all you need to do is to take some care and ensure that you are consistent with your trading behaviors. Too many Forex traders get greedy, typically newbies who make some good short-term profits, but greed as already mentioned usually leads to failure in the long run.

How Forex Trading Works is a resourceful website that serves to deliver free, online content relating to Forex trading, to anyone and everyone. Providing quality reviews, articles and writings on forex online.

Advice On Improving Your Forex Trading Skills

One of the things that you can do in order to make good money in the foreign exchange market is to implement a proven plan, one you will follow no matter what. Avoid risky strategies. Consistency is something that can help you make money in the long run. It is the safest way to make a decent amount of money.

Forex is very unique in that it is one of the few international exchanges in existence. It is open twenty four hours a day and you are competing against people from all over the world, many which may have higher intelligence and experience than you at the game. Make sure you are completely comfortable with how things work before you "step into the ring" as it can be a financial downfall for you if you aren't prepared.

Don't ever be afraid to pull out of a winning trade in FOREX, if you feel that something indicates a market is about to decline. Even if the market does top out higher than you expected - you haven't lost anything - you just gained slightly less than you might have otherwise. You only lose if the market goes into decline and you can't get out in time.

Forex, though open 24/7, has good times and bad times to trade. You may make the common mistake of believing that because it is open all the time that trading is a good idea all the time. This is simply not the case. The best times to trade are midweek.

You should put aside money regularly to trade in the Forex market. You should not trade Forex if you can't pay your bills or put food on the table. Decide what you can afford on a monthly basis and set that money aside. The more stable your entire financial situation is the more calmly you will trade.

Use stops strategically. You can minimize your losses and maximize your earnings by placing stops at the right positions. The last thing you want to do, is let a losing trade spiral out of control or fail to take the profits from a good trade before the market trend reverses.

Keep a very detailed journal about what you have done on the market. It will help you learn your tendencies so you can better understand what your weaknesses are and how to avoid loss. You will benefit by maximizing your strengths in a more efficient manner which will in turn make you more money.

Forex Website

You don't need to purchase anything to demo a Forex account. You can just go to the Forex website and look for an account there.

Now that you know a few pointers on Forex, you can either get your feet wet or get back into the game armed with new knowledge. Apply what you have read in this article and you are sure to be making better trades and exchanges, in no time at all.

Others find that more information about exchange foreign currency helps them reach their goals faster. Providing quality reviews, articles and writings on forex online.

All About Forex Trading System

What is Forex trading system? It is a trading Forex method that is based with a number of analyses in determining whether to sell or buy a currency pair in a given amount of time. Forex trade system can be also be based on set of signs or signals that are derived from charting tools with technical analysis or in news-based events that are fundamental. A trader's currency trading system can be usually made up with technical signals that create a sell or buy decision if they are pointing in a historically led decision to a type of trade that is profitable. The system of Forex trading may be done manually or automated.

A manual trading in Forex will involve sitting in front of your computer screen, waiting or looking for any signals, then interpreting whether you will sell or buy. In an automated type of system for trading in foreign exchange, the trader will teach the computer trading software on what signals to find or look for as well as how it will be interpreted. It is believed that the automated type of trading removes the psychological and emotional components in trading which often leads to a negative or bad judgment. Both of the manual system for trading, the automated system, and the signals are usually available for purchase. It will be very important to note regarding the system of the trade that there is no truth about the so-called "holy grail." If the type of a trade system is perfect in moneymaking, the seller will obviously not want to give a share with it. That is why big financial firms always keep their so-called "black box" trading system program under key and lock.

In Forex trading, you must remember that the Forex market is the biggest and also the financial market that is most accessible all over the world. Although there are a lot of Forex investors out there, truly successful investors are only few. Many of the Forex traders fail with the same reasons that they fail in some type of asset classes. The high amount of leverage that is provided in the market and the small low amount of margin that is required in trading the currencies will deny the traders an opportunity to create numbers of low-risk mistakes. You can find factors that are specific to currency trading which can cause some of the traders to expect a higher return of investment than the actual market can offer.

Visit us to know about the forex Prodigy Trading Platform of Ikon Markets here. Providing quality reviews, articles and writings on forex online.

Why Forex Traders Often Switch To Third Party Signal Providers

New people enter the forex trading industry every single day, often as individual traders who attempt to generate profits all by themselves. The trouble is that even highly experienced traders often find it difficult to turn a profit, so the novice trader has very little chance of making money in the long run.

There are always some exceptions. I know several traders in the UK who earn either a full-time or a part-time income from trading the currency markets. However as forex firms can themselves testify, the majority of traders end up losing money in the end.

It is for this very reason that more and more people are giving control of their money to other more experienced traders, in the hope that they will make a better fist of it than they can. This sounds like a risky strategy but right now in 2012 it can be a viable way to generate consistent returns if you know what you are doing.

Unless you have the privilege of knowing a profitable trader yourself, you can go down this path by making use of third party signal providers. These come in a few different forms.

There are the old fashioned providers who operate on a subscription basis. In other words you pay a monthly fee, and in return they will send you signals to open and close positions (hopefully for a profit) in real time. The drawback is that you still have to actually place the trades yourself, which can be quite an inconvenience if you are in full-time employment.

The other option is to hand over complete control to another trader (or group of traders) and let them enter and exit positions on your behalf based on their own signals. Many people are choosing this option right now because there are now some very good websites that have made all this possible.

They work by bringing together signal providers and signal subscribers, and both groups of people (along with the host website) have the potential to make some excellent returns.

It all depends on the ability of the signal providers of course, but if you manage to choose the right ones after doing lots of research, there is no reason why you cannot make long term profits from third party forex traders.

It is certainly a lot easier to do your research based on past results and pick out the genuinely profitable traders who generate solid returns without taking adverse risks, than it is to try and make money using your own strategies. Many people try doing this but ultimately fail, which is why third party signal providers are only going to become more and more popular in the coming years.

James Woolley is the owner of theforexarticles.com. Here you will find Marketclub reviews, as well as a full review of the Zulutrade signals website at theforexarticles.com/zulutrade-review/. Providing quality reviews, articles and writings on forex online.

Learning TradeStation And How To Build A Platform

TradeStation has established itself as a revolutionizing factor in the brokerage sector. This online brokerage service has enabled people to conduct their brokerage activities from the comfort of their homes. As such, it has proved convenient for traders since they can undertake their activities at their appropriate time. It boasts of a platform that comes embedded with several features. This includes the direct-access electronic execution order.

Through this online brokerage platform, people can design, optimize, monitor, automate or test their custom equities. They can also work on their forex trading methods, options or futures. It is a trading platform that allows online traders to keep an eye on various markets at the same time. Its live trading feature is simulated to enable traders to see how their strategies would pan out.

For beginners, this online brokerage platform may be challenging to master. It would take some time to come to grips with the twists and turns involved. The first step is to formulate a time frame, budget and set of goals. Beginners should ask themselves some fundamental questions. For example, they must be ready to allot some of their time to learning this technology. The learning process could cost a couple hundred dollars within a maximum duration of six months.

As part of the learning process, it is important to visit the firm's website. Here, learners can get tidbits on how to use the service. The website contains various learning aids such as, free courses and tutorial videos. The company regularly updates the learning materials and lesson contents. This ensures that learners are always at par with the latest features of the online brokerage service.

For people who may need further tutoring, a guidebook exists for this purpose. It is free and contains all the written instructions on how to use the platform. Alternatively, attending a seminar could prove helpful. Those who do not mind spending would have to part with about $100 as attendance fees. This is besides extra expenses like accommodation and airfare. These expenses could however be eventually worthy since these seminars equip people with hands-on experience. Once again, the online brokerage's website lists all the seminars that are set to occur.

The success of these lessons will depend on the astute planning of prospective online brokers. It is their duty to stick to their set schedules. This involves booking their flights and hotels at the earliest instance. Regardless of their tight routines, they should exhibit sheer dedication to their learning programmes. This requires that they must set some hours aside to indulge in some online lessons.

Prospective online brokers should also remember to practice regularly. Practice makes perfect; practicing how to use it would give them a comprehensive understanding of the market. It also prepares them for the pitfalls of online brokering and how to maneuver them. After coming to grips with this service, it is time to get to business.

One of the must-dos is the construction of a trading platform. It is through this platform that online traders can access the real-time data and integrate their trade orders. Building such a platform is a simple process that begins by visiting the platform's website. Here, they can build their platforms while setting up their desired charts. Thereafter, they have the option of selecting their own brokers. The most appropriate TradeStation brokers are those who use electronic platforms to allow direct access to the trade floor.

As an eager blogger as well as TradeStation trading enthusiast, Tim Spears possesses an incomparable passion for the actual complexities inside of dynamic financial industries. In order to find out exactly how to identify the most beneficial TradeStation indicator options. Providing quality reviews, articles and writings on forex online.

Dear Investor, Are You Trend-Following Material?

Yes, We Can't! Or Can We?

Just like there's a major difference between theory & practice, reading trading books & trading the markets are hardly the same thing. Otherwise, just reading a good investment book would instantly put a load of money in our pockets.

Similarly - there's a big difference between who we want to be & who we really are, otherwise we'd be living in a much better world.

Just like the market discounts everything, in trading who we are discounts who we want to be.

The markets are not an environment for guesswork.

You can't predict the market, and you can't control it.

But you can control yourself, and to a large extent, by knowing how you function you can predict your actions quite accurately. Moreover, no one else can do this better for you than yourself. This is an edge for you, the trader.

So let's get personal. Starting from a few facts about who you are, let's try to determine your basic psychological profile & whether trend trading is really for you or you should be a knife-catcher instead;)

Patient vs. Fast & Jumpy

Are you a patient fellow? Everyone talks about "respecting your trading plan" & "being disciplined" in your trading & indeed, patience is one essential individual quality associated with discipline in trading. While patience is required for BOTH approaches, it is much more important in trend-trading, due to the necessity to stay longer in the market following the trend, cut your losses short & keep your profits running.

Got itchy fingers?:) When you are trading counter-trend, you have less time to react & enter a trade (if you are slow, you miss the train). Trend-trading requires less speed of reaction, since a trend you're planning to "ride" is not something that disappears from one minute to the next, while opportunities against the trend are by nature less in number & more limited in time.

Rational & Organized vs. Emotional & Erratic

Are you a reason-driven person? Against common belief, there's more pressure on a trend trader than on a counter-trend trader. Think how many times you closed a trade too early, and you will immediately understand why. Being able to understand all elements of the trading plan & act on them in a lucid, coherent way will help you in following the discipline of the trend. Trend-following trades need to work like surgeons, cutting their way through the trend at precise moments.

Do you allow Emotions to take over? When trading against the trend, you will usually go for SHORTER trades (compared to the length of the trend). There will be less time to crack under pressure, and knowing your trade will soon be either in profit or closed for a loss should keep you from interfering with it (thus increasing the chance of respecting your trading plan). if you know yourself to make emotional decisions at times when reason should prevail (when trading, that's always!) then you may want to seriously consider counter-trend trading, as trend-following action may not be your cup of tea.

Risk Taker vs. Safety Freak

Do You Enjoy a Good Thrill? Human nature drives us towards safety (closing realized profits, even small) and away from the unknown (unrealized profits, on the table, at risk), even if we do have a trading plan and the desire to follow it. Most traders I interacted to (up to 95%, give or take) have at least for some time in their trading career cut their trades too early thus losing good potential profits in equity. As a trend trader, you will need to beat this obsession with safety, and allow your trades to be exposed to controlled risk (since you have the advantage of probability on your side). You will need to by psychologically strong enough to take a risk without blinking (controlled & calculated risk, of course - according to your rational & organized personality), as breaking the dynamic of the trend can kill your strategy in the long run.

Not Comfortable in Risky Situations? Trend trading is increasing the odds of closing trades too early, while counter-trend strikes are less psychologically burdening. Besides, stop losses can be moved to break even much faster when being in a "right or wrong" scenario (thus putting the trader's mind at ease faster about having to take a loss), while when riding a trend stop loss placement can be problematic due to the large stops associated to high probability trading (trend trading has in general higher probability of success, although it may not always have equally good risk/reward). So, if you're not the kind of guy who enjoys living on the edge, counter-trend trading may be your thing.

Conservative vs. Aggressive

Not the Adventurous Type? if you don't mind walking the beaten path (which is also safer, clearer & more predictable!), then you are probably more of a trend-trader than a counter-trend trader. if you don't mind taking your pips in the middle of a trend - as long as it's very clear you are on the right direction - you're a trend lover at heart. If you like doing things the proven, "right" way, if you prefer a known "good" to an unknown "possibly better" & don't like being the first at a party, then the trend can indeed be a good friend to you.

Are you bold & daring? Some people like the trading adrenaline just as much as they like profits. That's OK, as long as they don't love it MORE than the profits & start trading for thrills instead of cash. If you think that just jumping on a trend after it started & after it's been confirmed is just too boring for you, then forcing yourself to do just that will not help & may eventually bring you to acts of indiscipline. Stick to counter-trend trading & you will constantly experience the pleasure of being in a move before everybody else - the satisfaction of doing what you love can help you stay "in the zone" & enjoy your hours of trading.

Modest vs. Proud

Like Keeping a Low Profile? If you don't mind taking 3 losses for 1 win - if the win makes 4-5 times more than a loss - then you're definitely well-cut for trend trading. If you're not interested in proving yourself to yourself or anyone else & what matters is the overall equity curve, not having a large number of winners & being "wrong" will not matter & won't put unnecessary pressure on you. The trend will give you sustained rides, much larger than your initial risk, moves than can easily cover for 2, 3 or even 4 of your losses. Consistently scoring a 40% win rate on a 2:1 risk/reward strategy will make you very profitable in the long run, although you will be wrong more often than not.

You Enjoy Saying "I Told You So"? Some people just like being right & sticking it to others. While this is something every trader should constantly try to fight against (because the market is the only one right all the time!) it is nevertheless a feature of our personality that we should try to acknowledge & - why not? - even use as an edge if possible. A positive mindset (given by a high number of wins) can help you stay motivated as long as it doesn't turn into outright cockiness. If you know yourself to be proud & you often count the winners against the losers then you must look for a strategy with a high winning rate, even if the risk to reward may not be more than 1:1. It's likely a counter-trend system may give you just that, while a trend-following strategy could bring up feelings of frustration as you would tend to focus more on the negative side of things (wins vs. losses) instead of the positive (a profitable equity curve).

Conclusions

The markets are a challenging environment & trading is a highly sophisticated activity. We really don't need to add in our own personal weaknesses to make our job more difficult. We should all do our homework before we trade, learn about our strengths & weaknesses & come to the battlefield prepared & well-armed.

Ee need to understand & fully use ALL OUR EDGES to prevail on our competition. Other traders are NOT our enemies - the market is an objective, perfect entity, remember? We are our worst enemies, and our indiscipline is our enemies' leader. The market does not take our money, we give it away ourselves through our actions.

We are not perfect entities, and knowing ourselves, admitting our personal personality biases is CRUCIAL for improving our trading results (whether we are newbies or pros).

Carefully analyze your personality before creating your trading plan, and come up with something will work for you NATURALLY. Always think about WHO YOU ARE, not WHO YOU WANT TO BE! If you are into self-improvement (and you should be!), do that outside your trading hours. You may not be perfect, but while you are in front of your platform you should strive to become a perfect entity too: a machine that perfectly follows a pre-designed trading plan.

Some of you are fully "automated" traders (with or without robots), strictly following rules & only rules, leaving nothing to discretion or real-time subjective evaluation. That's great, because while you may be missing out on some action every now & then, you will be much less likely to be hit by a bad drawdown (usually created by indiscipline).

If on the other hand you are a DISCRETIONARY trader, you must carefully define the limits of your discretion. You don't want to be discretionary to the point of doing whatever you want whenever you want, overriding your entire trading plan. This approach can lead to nothing but failure. Again: discretionary or mechanical, trend-following or counter-trend trading - there's no right or wrong answer.. But when it comes to YOU, there is a better way to do things, that comes out of knowing yourself & giving the markets (as well as everything else) the best of who you are.

This is a personal re-writing of Mihai's recent webinar on trend-trading psychology. As I found it extremely interesting, I used an audio transcript of the session & Mihai's own notes to make it available to other traders. It's also my way of saying thank you to a great trader & teacher for the dedication & patience he put in my education & all the long messenger chats over the past 4 years:) For over 3 years I am successfully trading both trend-following & counter trend strategies & make a really good living as a trader & recently as a fund manager.

I can warmly recommend Mihai's educational program if you are looking for an A-Z training (it's not advertised, you'll have to contact him via his website). I loved it because the approach was very personalized & he followed-up closely with me after the training until he saw I was able to consistently make money. He still checks on my trades weekly. If you are an already established trader, I highly recommend the live trend-following system (his website offers Free Forex Signals Live with direction, levels & other tools, so you can check them risk-free). If you are looking for professional money management feel free to contact me directly. Providing quality reviews, articles and writings on forex online.

3 Simple Intraday Trading Strategies

It is generally accepted that intraday trading is where the action is. The adrenaline rush of making the right decision under a pressure cooker is like no other. Beside, practitioners of this approach concedes that they do not like to leave their position overnight. The financial crash of 1987 served a painful lesson evens when most brokers were raking in thousands of dollars per month before that. The fact that the market now is open 24 hours a day also leaves a lot of room for vulnerability. You just do not know what is happening with the rest of the world whiles you were sleeping. But if you are not careful, or knowledgeable enough, this is also the fastest way to lose your money.

Know your position

There is no single system that can guarantee returns. Two people may use a different tactics and may end making the same number of profits. It's important that you develop your own tactics that is backed with a lot of research and trial-and-error. You can buy a day trading software for this. The goal of trading is to sell high and buy low but that is putting the cart ahead of the horse. You have to know how to make a position first, which simply means how much money is you going to risk. There are many methods to determining your position size but the most common is to multiply your account size with the risk per trade, which ranges from 1-3%, and factoring in the stop-loss margin. The total will be your position size.

Do not be afraid to change your system

Do not ever think that you already have the perfect system just because you made a few bucks. You should always subject your strategy to rigorous tests to find gaps in the process. The system does not only include the tool that you use for trading but also your mindset. Are you quick to the draw when you find an opportunity to sell? Or will you leave the leveraged position for a much later time to make an even bigger profit? When assessing your intraday trading tactics, the weighted measure should not be how much your profit margin is. Rather, do you trust your system with your money evens when all the odds are against you?

When it's time to cut losses, do not hesitate

What you need to understand is you will not always win. In fact, when you are just beginning, you will lose more than you will earn. That is why the failure rate is high because beginners walked away just when they were about to turn a corner. With that said, one of the most crucial day trading strategies knows when to cut your losses. One way to do this is to determine the stop-loss point that you are most comfortable and sticking by it.

Easy-forex.com offers for trading strategies through expert. For details click here Intraday Trading and Day Trading Software. Providing quality reviews, articles and writings on forex online.

What Is A Forward Contract

If you regularly utilise the services of a bank or foreign exchange broker, it is important for your personal or business finances to try to get the best deal on your foreign currency exchange rate. What happens if you find yourself keeping an eye on the markets and the exchange rate for the currency pair you generally trade, is looking favourable now? Wouldn`t it be great if you could ask you bank or broker to give you that exchange rate at some point in the future? Well you can and this is where a 'Forward Contract' comes into play.

How does this work in practice? In effect you are asking your bank or broker to honour the exchange rate at that particular point in time and to save it for you to use at some point in the future.When you advise your bank or broker that you wish to enter into a forward contract, you must stipulate a date when you want to complete the transaction. The benefit to entering into a forward contract is you know exactly what exchange rate you will get on a particular day. If the rate is favourable then this could mean making some significant savings. However, it is important to remember that the markets may fluctuate against you and that you are entering into a financial agreement. If you decide to pull out of the contract then you will be expected to meet the costs to the bank or broker. Furthermore, your bank or broker may ask for a deposit upon agreeing the contract and there may be a limit as to how far in the future the contract can be held open for.

A further type of forward contract is a 'drawdown forward contract'. With a forward draw down contract you can take a portion of funds at intervals throughout the contract. Each withdrawal is termed a 'forward drawdown'. With a forward drawdown you can take as small or large a portion of the funds as you require, however each withdrawal may be subject to a fee. As with the forward contract, there may be a deposit required upon set up.

Many institutions are now developing their own style of forward contracts with various features, however, they are generally variations on the aforementioned forward contract types. The most appropriate type of contract for the individual or business will depend upon their personal requirements.

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Forex Trading Tips, Techniques and Strategies

Learning how to navigate the choppy waters of the forex market means having access to plenty of tricks and tips to improve your trades. These tips and tricks will come from a wide variety of sources, some of which you trust and others you're willing to risk if it'll improve your daily forex trades.

Since the foreign exchange market is growing larger by the day, the plethora of available information can be daunting for new traders. The key is to focus only on forex trading tips that are important to you now. Don't worry about information that you don't understand yet, because it won't help your trades today.

Look for tips regarding forex basics until you become a more skilled trader.

Strategy Tips

Don't let yourself get bogged down with complicated currency trading strategies that have no meaning to you as this will only confuse you. Focus on trading strategies that are important for beginner forex traders. There are plenty of complicated trading systems out there intended for those well versed in the foreign exchange market, but implementing trade strategies that are beyond your current skill level can spell disaster.

Your best bet is to find forex trading strategy courses and videos to help you understand the basics of trading. Once you have these tips safely stored in your brain, you can begin to focus on advanced trading strategies.

Economic Indicators

Any tips to forex trading that help you identify significant economic indicators is worth exploring as these tips have the best chance of helping you make successful trades. Many new forex traders have no idea what factors are important to a trade, but tips that encourage you to learn more about the economies of your currency pairs are worth following.

Whether you choose to get regular alerts or you simply want to research the information for yourself, any trading tips that help you identify important economic data can improve your trades.

Practice First

When it comes to implementing forex trading tips the most important piece of advice for you to follow is practice first! Never implement a potentially profitable forex trading strategy into a real money account without first testing it out on a demo account.

The internet is full of free forex demo accounts that will allow you to test out any forex trading tip, strategy or technique before risking real money on a whim. This is the best way to see if a strategy tip is legitimate or another scam looking to part you from your money.

Additionally, demo forex accounts will let you know how well you understand certain trade strategies. Some trading strategies are difficult to comprehend and practicing following the trends is your best bet at trading profitably each day on the foreign exchange market.

With a little patience and plenty of research you can be making profitable forex trades in no time at all!

Andrew Daigle is the owner and author of many successful websites including ForexBoost.com, a Forex educational site to learn Forex Trading Basics and Profitable Forex trading strategies. Providing quality reviews, articles and writings on forex online.

Forex Trading and Forex White Label

Forex is a market where in buying and selling of different currencies are involved. Since it is a wide market and competition is high, you need a Forex white label program. This will allow you to build a brand name and maintain your presence in the market. You will have your own brand or logo. This is very essential to maintain your business even if you are in a market where competition is high. By having this kind of partner you can maximize all the functions and administrative support you need in trading.

There are many benefits you can get you engage in this kind of trading program. You can use the easy to operate trading technology and you can participate in the trading for 24 hours. It can also minimize the risk you can have. You can also enjoy the online real time reporting and automated trading system.

This program is very ideal for those who want to reach the international audience. The customers for this service are given the convenience of selecting different languages since trading platforms are available in different languages. Aside from this, customers are given a detailed and on time reports and advisories that are very beneficial for the business to succeed. Another thing these partners can offer to its customers is the extensive back office support. Thus, it allows users to concentrate more on increasing their profit and not on the generation of reports.

There are different types of platforms available in the market today and their services may vary. This service is ideal for financial services firms, trading firms and brokers and other companies that are into Forex trading tools and services. It will allow financial firms to operate trading online in a very effective way. This will also allow you to offer wide range of products to your clients conveniently and eventually increase your profit. In order to enjoy all the benefits, you need to use the right solution and service to cater your needs. With this program, users are also given the opportunity to customize trading solutions that will cater to a specific need and criteria such as margin and leverage requirements.

Thus, it allows you to create your own trading business under your own business name using a specific platform. There are different companies offering different types of business partnership services and their service features may vary from each other.

Would you like to know more about the Forex White Label? Visit us here. Providing quality reviews, articles and writings on forex online.

Trading Technical Chart Patterns With Help Of Forex Trendline Tool

In currency trading, the movement of currency prices creates distinctive formations that are known as chart patterns. Common points or lines are connected over a period of time in order to define a technical pattern. Closing prices, highs, lows, etc. are connected by these lines of points or what we commonly use know as a Forex trendline tool available in Metatrader 4 platform.

In order to predict an underlying currency pair's future price movements, these chart patterns are used in technical analysis in conjunction with the forex trendline tool. The tool available is a useful feature that assist trader in identification of key price levels and also to mark out elusive patterns that traders may often miss out on.

Identifying these chart patterns on the currency chart for a new starting trader will take some time. It is definitely going to take time and experience to understand market movement and pattern formation.

While starting traders may often identified the patterns too early in their formations, due to their excitement may as a result place trade entries too early based on the lack of pattern confirmation which may leads to false trading signals. Therefore it is great if there is a customized forex trendline trading tool that can help in the execution of trade entries based on proper trading signals and the monitoring of the trade process all on automation.

Going back to the five most important trading technical chart patterns in currency trading that all traders should be familiar with:

- The Wedge

- Head and Shoulders

- Channels

- Descending Triangle

- Double top

The Wedge

The wedge pattern has two variations. The wedge pattern actually is a reversal pattern, which indicates the occurrence of a reversal of the pattern within the wedge's boundaries. Thus, the bullish reversal pattern is the falling wedge and the bearish reversal pattern is the rising wedge. The lows and highs of the candlesticks are connected to form the wedge, as a result of which a pattern is produced. In the wedge chart pattern, the slope formed by the upper trend line is sharper than the falling wedge and the slope formed by the lower trend is sharper than the rising wedge.

Head and Shoulders

As the name suggests, this trading chart pattern resembles a head flanked by shoulders on both sides. When the highs of the candlesticks are connected by a trend line forming tow troughs and three peaks, then the head and shoulders chart pattern is formed. The head refers to the larger price peak and the shoulders refer to the smaller price peaks. The head and shoulders chart pattern is a bearish pattern. For sellers, a favorable break in occurs when a small descending triangle starts appearing.

Descending Triangle

The descending triangle is a bearish pattern is formed when lower highs form an upper trend and the lows form a lower horizontal trend line, both of which converge with each other. Eventually, a bearish breakout occurs at the lower horizontal forex trendline.

Channels

Ascending channels, descending channels and horizontal channels are some of the variations of channels. Channels are defined in the same way regardless of which variation is seen on the chart. Channels are defined as technical ranges with prices that have traded in for the time being. When the price range trends upwards ascending channels occurs, when the range trends downwards descending channels occurs and when the range consolidates sideways a horizontal channel occurs.

Double Tops

Double tops, is a bearish reversal trading technical chart pattern by one trough in between two successive peaks. The level of the peaks is almost the same. The trough acts as a temporary support and the neckline is formed by a horizontal line that is drawn at this point.

Out of all these chart patterns the head and shoulders and the double tops patterns also have reverse patterns known as the Reverse Head and Shoulders, and the Double Bottom patterns. As mentioned, traders get a signal from these trading technical chart patterns that it is profitable for them to buy or sell certain currency pair. Thus, these were five of the most important currency trading chart patterns every trader should be aware of.

In addition, all traders should have a look at a simple method like forex trendline tool to trade these technical chart patterns on full automation based on the traders' personalized trading plan efficiently and effectively.

Warren Seah is the co-founder of Flagforex business. Flagforex develops trading software for the currency trading industry. Trading software such as how a forex trendline tool software can help a trader by automating trades using forex trendline tool. Providing quality reviews, articles and writings on forex online.

Teach Me Forex, Peer To Peer Trading. What Is ZuluTrade?

ZuluTrade is an online system to connect people who trade forex with others who want to learn to make money in forex. It works by using a signal provider and signal follower system. This means forex traders can sign up to the service and offer their skills to others. Signal followers are free to choose any signals.

It is free to use any system on ZuluTrade and the provider of this system earns money from broker commissions. For every trade the provider makes a broker will pay them a commission for the signal followers business. In this way the good trader is able to attract a good following and make substantial money. To follow a signal follower you need a forex broker and It is easy to join a broker from ZuluTrade itself.

How it works?

ZuluTrade ranks all of the signal providers from 1 to over a 1000+. The lower the number the better the system provider has performed. If the provider reach the top rankings they can earn a very decent living.

As a signal follower you need to open your ZuluTrade account. If you are new to forex trading chose a demo account to start with. You will then be able to select who you want to follow. Have a look at the system providers pages and see who you like.

At the beginning just chose one signal provider. When you get more familiar with the system you can add more. Once you have selected your provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.

Automatic means you set your risk and the ZuluTrade terminal sets your lot sizes for you. It is better to select a low risk settings. It is tempting to set the risk high as you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.

Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skills than the automatic system but if you can learn how to use it, it provides great control over ZuluTrade.

For people who are new to forex trading you should select automatic. You can then start to learn how to use the functionality of ZuluTrade. This means you can start to understand how trades happen and how this can effect you emotionally.

For those who are more adventurous and/or experienced use the custom setting. One of the best things about the custom setting is the backtest facility. This allows you to add in the lot size, take profits etc. Looking at these results show you how your account would have performed if you had used the signal provider with those settings.

By using the back testing feature you can learn about lot sizing and stop losses. This will help you chose the correct settings for your accounts.

ZuluTrade offers a hands free way of trading and ZuluTrade offers a gateway for many people who wish to make money in forex.

ForexTradingTutorial.biz offer a training course to show how to use peer to peer trading successfully. Providing quality reviews, articles and writings on forex online.

Teach Me Forex, The Carry Trade

Forex is the foreign exchange market and measures the relationship between currencies. A currency can be viewed as economic indicator of a countries economic strength. The forex market reflects the relationship between countries.

Traders all over the world look at these relationships and place trades that hope to capture the price movements between currencies. These traders are either long or are shorting the market. This ability to trade both directions without penalty is attractive for many traders.

Currencies are traded as pairs and each part of the pair represents a country. The USD/CAD currency pair shows the relationship between the US economy and the Canadian economy.

All commodities are bought and sold in US dollars. Because of this relationship the US dollar is the worlds reserve currency. Non reserve currencies will usually move in the opposite direction to the dollar. This inverse relationship can be exploited by currency traders.

Say the dollar devalues through excess money printing. Wealth is transferred from cash to assets that will hold their value. This protects the owners wealth. As the dollar declines the prices of commodities rise in relation to the number of dollars now needed to buy them. This allows you to trade by shorting the US dollar and by keeping your money safe by buying commodities.

Another way forex traders make money is on the difference between interest rates. This is called the "Carry Trade" and involves borrowing money from low interest rate countries and investing this borrowed money in a country with a higher bond yield. The difference between the bond yields are the profits on the trade.

As a private trader you do not have access to credit this cheap. You have to be able to borrow at the Libor, the London Interbank Offered Rate which is currently at 1.07%. This is only accessible by large finance companies. Without this access to cheap money it is should be impossible for the private trader to take advantage of this trade..

The good news is a private trader has a few different ways to capture the difference between bond yields. First you can use an exchange traded fund (ETF). The ETF is a fund that has been divided into shares and these shares are traded on the on the open market.

If you buy an ETF you will be paid a dividend payment for holding the ETF. Which comes from the difference between the bond yields. A trader could also expect capital growth on the ETF as the currencies value changes in relation to each other.

As money moves from the country with the lower bond yield to the higher bond yield country. This starts to increase the value of the currency in the higher bond rate country. This causes a trend in the currency pair.

Another way to take advantage of the difference between bond yields is to use a forex broker. You look at the bond yield charts to see who is paying the highest and lowest interest rates. Choose a currency pair that mirrors the high/low interest rate.

You would buy the currency pair if the first currency in the pair has a higher bond rate, You would sell if the first currency in the pair is the lower interest rate. You would use the 10 year bond yield to work out bond yields.

Example

AUD/JPY
2.72%/0.875% (10 year bond yields)

In the above example you would buy the AUD/JPY because the AUD has the strongest bond yield. If the % rates were the other way around you would sell the trade instead.

By using a forex broker you can earn the difference between the yields. Every time you hold a trade past 12 midnight you are either paid or you have a payment deducted from your trading account. Whether you receive money or not depends on the yields for the currency pair you are trading.

With this carry trade set up you are aiming to be paid the interest every day and also capture capital growth by trading with the trend. Which is trading with the flow of money.

I hope you found this useful and let the forex profits flow.

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