Skip to main content

Posts

Showing posts from February, 2017

Forex Trading 101 - The Pros And Cons

Forex Trading 101 - The Pros And Cons

Are you new to forex investing? Well, there are some things you need to know about this type of investing so you will understand better why a lot of people do it – from the big companies to individual investors.


There are three major reasons why people trade in forex: for money, enjoyment and a sense of achievement. It's obvious that people can earn a lot of money through forex, but some people do it simply because it is fun and they feel a sense of satisfaction from making a trading system work for them.


All three reasons aside, people do forex because, unlike the stock market, the currency trading market never closes. Thus, no matter what time of the day and wherever they maybe in the world, anyone can benefit from trading currencies. You can even earn money in your sleep if you set up your trading system to work automatically.


It also does not cost much to get started. Some trading companies only require as low as $25 as an initial investme…

Forex Tips For Beginners

Forex Tips For Beginners

Are you thinking about getting started with Forex trading? There are a few things you should know before investing on the Forex market. Take a few minutes to review the following article for some useful information on Forex.

Do not spend anything on Forex until you have spent at least a few months educating yourself about trading. Becoming a successful trader takes many years of practice and you will eventually get there if you start by learning as much as possible about Forex. You could for instance read some books, watch some tutorials or talk to other traders.

Choose a broker you can count on. Some brokers have a bad reputation for a reason. You should also avoid brokers that were created very recently. It is best to choose a broker with several years of experience and an excellent reputation, even if they charge more. Do not hesitate to call different brokers so you can ask a few questions about the services offered or find out how much opening an account …

Forex Short Term Trading

Forex Short Term Trading

I love forex short term trading. I know and often preach about not trading short term for beginners but I do know that you will trade short term anyway. Short term trading is fun, it's high energy, and it's exciting. I love to do it and I love the game of trying to outsmart the market. The problem with trading is that boring trading is good trading. Yes, if you've read my posts before you know that I always say that. What we gain the excitement of short term trading, we lose in profitability and stability. My goal with this article is to give you a short term trading method  that will be more profitable that anything that you are currently doing.

The technique that I will show you is very simple and easy. Because it is so simple, we will first focus on the extra things that will make you profitable. The extra thing that will help you is having the right mindset. The thing about day trading and intrday trading is that it should be done infrequently.…

Forex Scalping Success

Forex Scalping Success

I am not bragging or boasting when I claim that I am one of the few successful Forex scalpers. It's a fat that most people never earn any money trading Forex, they can spend thousands of dollars on trading courses, they can ready every book on the subject but they will always fail.

These people fail because they don't understand the pure basics that you have to discover on your own. They come to Forex lacking discipline and their lack of discipline is often the source of their failure.

Successful Forex scalpers have self-discipline a lot of other qualities that Forex losers do not possess.

How did I come to possess these qualities. Let me tell you something, I was an undisciplined person my entire life. I always made average grades, I was fat and I never finished what I started. All of that had to go out the window for me to succeed in Forex or anything else in life.

Why is discipline so important when you scalp Forex? It's important because you can …

Learn A Language

Would you like to learn the Chinese language? Many people find that learning another language is very hard. Sometimes they put off learning another language because they just do not think that they are able to do it. And some languages are a lot harder to learn than others. Take Mandarin Chinese for example. Do you think that learning Mandarin Chinese would be an easy language to learn?


The answer may surprise you. To learn Chinese language such as Mandarin Chinese can be done quickly and easily. But where would you go to learn Mandarin Chinese? To learn any language, the method that is probably the best is to have someone qualified to teach you. There you would gain fluency in everyday speech and proper grammar. It may seem hard to believe, but if you spend just 10 minutes per day that should be enough for you to learn to speak Chinese and to gain a large vocabulary.


To learn Chinese isn't as hard as you might imagine. At most internet sites that teach Chinese you'll see tha…

How To Deal With Toxic People

We all know them. Everyone has at least one toxic person in their lives. They may be close relatives or friends, which is why it may be impossible to get away from them. They can be draining, upsetting and make you feel bad about yourself. However, there are some things you can do to deal with these toxic people. Keep reading for more information.

The first thing you can do, if at all possible, is to cut down time that you spend with these people. They usually are the ones calling you all the time and trying to be in your company a lot of the time. You need to be able to tell them no. If they call more than once a day, let their calls go to voicemail. If they want to see you multiple times a week, cut that down to one. If you can't avoid them altogether, do your best to restrict interactions with them.


The next thing you might want to do is to examine why they are so toxic to you. This is something you can do on your own. You need to ask yourself why they trigger your bad feeling…

Family And Personal Development

Your family and friends can either be a great resource to your own personal development or they can be detrimental to your growth.

When I speak about family, I generally consider these to be people who are related to you and with whom you have close contact. They can include your mother, father, siblings, grandparents, uncles, aunts, cousins, etc. Your own children as well as your spouse or life partner are also considered family.

It is so important for you to have the support of these familial relationships on your journey of growth. You will however find that people have very different views to self development. While some just may not seem to see the need for growth others may consider it a waste of time.


On the other hand you may find a family member who seems to want to hijack your journey. There is a very fine line between being supportive and becoming over involved. The key word here is SELF development and as important as support is, you must not include people at your own de…

Forex Trading 101 - The Pros And Cons

Are you new to forex investing? Well, there are some things you need to know about this type of investing so you will understand better why a lot of people do it – from the big companies to individual investors.


There are three major reasons why people trade in forex: for money, enjoyment and a sense of achievement. It's obvious that people can earn a lot of money through forex, but some people do it simply because it is fun and they feel a sense of satisfaction from making a trading system work for them.

All three reasons aside, people do forex because, unlike the stock market, the currency trading market never closes. Thus, no matter what time of the day and wherever they maybe in the world, anyone can benefit from trading currencies. You can even earn money in your sleep if you set up your trading system to work automatically.


It also does not cost much to get started. Some trading companies only require as low as $25 as an initial investment. The good thing about it is that y…

Forex Momentum Scalping

I am going to teach you a very risky strategy that is either going to make you a lot of money or lose you a lot of money. I am the type of person who likes to takes risks. As semi-professional poker players, I was always a super aggressive player who would bully all of the other players. I was what they call loose aggressive. My approach to trading Forex isn't much different. I take a lot of chances, I gamble, but I never lose my shirt. Yes, I lose money sometimes, but I never lose my shirt.


Never Lose Your Shirt

Before I go into the details of momentum scalping, lets first discuss the meaning of, never lose your shirt. In any game of risk, you must use proper money management. As a scalper, we are making tons of trades a day. We are basically making 100's of gambles a day, so if we use too much leverage or two much of our account on each trade, we will go broke. Money management allows you to live to play another day or live to trade another day. Without money management, I w…

Understanding Internet Marketing Strategies

Understanding Internet Marketing Strategies

All over the world, people are trying to do their best when it comes to their finances. The economy is not the best that it has ever been, and finding supplemental forms of income is definitely on top of everyone's to-do list. Internet Marketing is something that has taken the world by storm in recent years. The advent of the Internet has made it possible for people to stay at their homes and earn a good living off of products and services that they market on the web. In this article, we will help you understand a couple different Internet marketing strategies that you may find useful if you are aspiring to be an online entrepreneur.



Making money on the web is not as difficult as it would seem. In fact, most people make it much more difficult than it actually is. They spend so much time trying to perfect a product or a service before releasing it, they failed to launch what they have to offer before someone else copies their idea. Even w…

Can You Make Millions With Internet Marketing?

Can You Make Millions With Internet Marketing?

If you've been doing any research on Internet Marketing, you've probably come across so-called gurus who claim to have earned millions online. And you might be wondering, can you really make millions on the Internet?


Well, it is possible, but don't think you can get there by simply buying some guru's product. You get there by consistent correct effort. And by consistent correct effort, we mean that you learn a method for promoting things online and you stick to it until you master it and earn money from it. And when you start to earn,  scale up your efforts so that you multiply your current income.


Too often, people get into Internet Marketing with ultra-high hopes about income with little thought about what it really takes to get there. They try one method for sometime and when they don't see results immediately, they try another method and then try another method... There is no end to the cycle.


This is the reason wh…

Avoiding Shiny Object Syndrome In Internet Marketing

Avoiding Shiny Object Syndrome In Internet Marketing

Internet marketing is all about using current technology and trends to create a plan and outsmart the competition online. It takes lots of research and paying attention to what today's audience is looking for in a particular niche to decide what goes into a strategy. Unfortunately, many marketers fall for "shiny object syndrome." This means that they are attracted to new buzzwords, trends, and channels and feel that they must use them on their target audience. Here are some things to think about before adding these new concepts to your marketing plan.



While "shiny object syndrome" can be fun, exciting, and unexpected, the problem lies with the fact that the marketers that jump at a chance to use them don't take time to see if these are things that the target audience is really interested in. Just the fact that they are new and  "shiny" means that they are "hot" and should be used to bl…

Strategies For Forex Beginners

So you have decided that you want to trade currency but you might not know how to get started. The key to becoming successful at anything that you invest your time into is to create strategies that can increase the likelihood of your success. You cannot hope to make any real money with Forex or any endeavor you become involved in if you do not create guidelines to follow. Forex beginners can find this article helpful in their efforts to start trading currency.



How much money do you plan to invest? Realistically you should have at least $500 or more to begin investing. Ideally, $1,000 is a good amount to start with when you begin to invest with Forex. Make two or three different well informed investments to increase the chance of producing profit. Since you are not required to trade until you are ready take some time to wait until you know you have the money to invest into Forex. If you do not have at least $500 saved then wait awhile until you can spare the extra money towards invest…

How To Trade On Forex

How To Trade On Forex



You have probably heard about Forex trading but do you actually know how this platform works? Forex trading is relatively easy and anyone who is properly motivated can become a trader. Go over the following article to learn more about Forex trading.


Investing on the Forex market right away is a mistake. You need to do a lot of research on Forex trading first and fully understand how this market functions. Do not hesitate to spend a few months reading books or taking online classes on Forex trading. Make sure the material you use to learn about Forex is developed by successful traders. If you find a book or a class that presents Forex as a quick and easy way to get rich, use another resource.


Practice by using a demo account or paper trading. Once you feel that you know enough about Forex to understand how the market works, get as much practice as possible. You should start reading about the current trends on a daily basis and familiarizing yourself with the funda…

Placing Orders With Your Foreign Exchange Broker

Placing Orders With Your Foreign Exchange Broker

You need to know how to appropriately place orders with your brokers.  This will avoid any misunderstandings regarding your entry and exit strategies.  It is important that you place orders according to your trading method.


Market Orders


Market orders are the most common type.  It is used if you want to place the order at the market price at that precise moment.  The market price is the ask or the bid price that you see on your screen.  It is possible to use this type of order to either enter or exit a position.


Limit Orders


A limit order is used if you only wish to enter a new position or leave a current position at a stipulated price.  Your order will be completed once the trades reach the specified price or a better price.  A buy-limit order issues an instruction that a currency pair is to be bought when your specified price is reached and that price is lower than the market price currently.  A sell-limit order instructs the sale of…

Tips to Successful Forex Trading

Tips to Successful Forex Trading

When you start trading on the forex market you may wonder how you can be successful.  There are certain things that successful traders do to ensure that they make a profit with as many trades as possible.  Knowing what these things are will help you in your trading venture.



The first thing you have to do is know your approach to the market.  You need to know what timeframe you are comfortable trading in and the trading strategy you are going to use.  There are a number of different strategies for each timeframe.  You need to use one that you completely understand and that you feel comfortable using.



When you look at your approach you also have to consider the analysis techniques you are going to use.  For short-term trading technical analysis is best while long-term trading requires more fundamental analysis.  Of course, you can mix the two analysis techniques together to get the best view of the market.



The second thing that a successful trader does i…

Trend Trading Forex

Trend Trading Forex

I was an idiot when I first started trading Forex. Like most new traders who eventually lose all their money, I started off as a day trader. I was sitting in front of the computer for 4 hours a day trying to make pips. I was even waking up at 3 AM to trade the London open. I loved the action and the speed of trading on a short time frame but it was very stressful. Not only was it stressful but it wasn't really profitable. I lost more money than I made and at one point I was just happy to break even.



I remember reading the Market Wizards series of books and reading about Richard Dennis, the guy who created the turtle traders. The turtle traders were a group that Richard Dennis put together after a bet with his trading partner. Richard Dennis believed that anyone could learn trading if they had the right rules. He put an ad in the paper and he taught people from all walks of life how to become traders. Many of the people he taught became millionaires and some are…

What Is Forex?

With the crazy markets of today it is very important for investors to diversify and keep their eyes open to new markets. One of the biggest markets right now is forex. What is forex? it stands for FOR-eign EX-change. It is basically the trading of one currency to another.


Many large corporations and even countries simply need to exchange their local currency for another in order to do business. For example most countries must pay for their oil with us dollars, which means they need to exchange their currency for dollars before they can but oil. Another example is with multinational corporations that need to pay expenses in different nations where they do business.



A large part of the foreign exchange market, however, consists of currency traders. Currency traders basically speculate on which direction currencies will go then they buy and sell currencies in order to make a profit.



On your own you may need a significant change between two currencies in order to make a good profit, howe…

Forex Why I Use An Empty Chart

Forex Why I Use An Empty Chart

I am one of the few traders who doesn't use any type of technical indicators. I trade using a raw candle stick chart with nothing on it. I don't even use moving averages. How did I come to trade like this? I came to trade like this after losing my money over an over again. The methods that called for using these indicators didn't work for me and it didn't fit the way I think and trade. I find that those lagging indicators just get in the way of what truly matters in the market, price.


Price is the only thing that matters when you trade Forex. The only thing you should care about is where was the market, where did price go and where do you think it will go. Trading is not a science and it is far from a solved game. Everyone is using guess work to make their trades. The only difference is that some have advanced computers and mathematicians who create predictive algorithms that help them guess without human subjectivity and others are makin…

Forex Trading Tips To Help You Get Started

Have you ever thought about becoming a Forex trader? You could become a successful trader as long as you are ready to work hard and educate yourself about Forex. Go over the following article to learn more about Forex trading and the efficient strategies you can use to get started.



The best way to become a successful Forex trader is to educate yourself about efficient trading strategies. You can easily learn everything you know about Forex thanks to the Internet. Purchasing educational material is a good option but you need to choose material developed by professional traders.



Practicing with a demo account is an excellent way to get some experience without losing money. You should learn more about different brokers and purchase a demo account from a reliable one. Using a demo account will give you the possibility to make very small investments or to practice on a virtual trading platform.



Start a trading journal. You should record your progress at the end of each trading session. Th…

Forex Mistakes That You Should Avoid

Forex Mistakes That You Should Avoid

All forex traders make mistakes, but the successful traders learn for the mistake they and others make.  It is important that you know about some of the common mistakes made by traders so you can learn to avoid them.  One you know what these common mistakes are you will be able to trade around them and lose less when you are trading.



The first mistake that many traders make is averaging down.  Averaging down is a technique that many traders come across where a position is held even when it starts making a loss.  The trader will increase the amounts in the trade and wait for a turn in the trend.  This technique is dangerous and often leads to more losses than gains.



The second mistake that many traders make is pre-positioning their trades before economic news is released.  There are certain economic new reports that affect the way the forex market works.  It is recommended that trades be closed before the news is released because of the fluctuations…

Forex Is For Disciplined People

I am not going to focus on the technical aspect of trading in this article. I think that too many people focus on the mechanics of trading and not on the mental side. It is my experience and belief that the mental side of trading is where most people need work. Sure new traders don't use a proper trading strategy but they also don't know how to think about the business of trading. They have faulty beliefs that will keep them in a state where they are losing money. Lets fix their head then their trading.




So what do I mean by lets focus on the mental side of trading? What I mean is that trading for many involves too many emotions. These emotions are would causes trader to make bad decisions in Forex. The more bad decision you make, the more money you will lose as a trader. It is my goal to teach traders to think about the game and how to think about each trade. By changing their internal representation of what good trading is first, then we can easily teach them winning trading…